InsideSFRE Makes the Nightly News

My seller clients and I were interviewed last night on KTVU’s ten o’clock news about the Zillow acquisition of Trulia, and how online real estate sites continue to play an important role in the real estate industry.

I’m a big fan of Trulia, Zillow, and Redfin, and believe they are key in helping buyers and sellers do their research. As I mentioned during the broadcast, most of my clients have done their fair share of online research before I even meet with them for the first time. As a result, they’re up to speed on values and we can get right to in-depth market discussions.

You can watch the broadcast here.

And look for our Bernal Heights listing later this week, especially if you’re in the market for a three-bedroom single-family home in a fantastic neighborhood location.

Market Softens for $2M+ Homes, Condos in Big Buildings

The media and local blogs love to grab headlines by touting the latest crazy overbids made by buyers who don’t think much of throwing hundreds of thousands of dollars at sellers. (Yes, I cover these overbids occasionally, as well, because they’re an intrinsic part of the current market here.) Homeowners love those headlines, but would-be buyers cringe.

But the latest news is that there are certain segments of the market that are softening, as evidenced by several July sales. [Read more...]

What You Can Buy: 21 Days & Counting

Properties in San Francisco commonly go into contract within a week or two of being on the market. Which means that things move quickly. However, there are many homes that have been on the market for three weeks or more. In my never-ending quest to unearth buyer opportunities, I wanted to profile a trio of properties that are available with no offer date—and potentially, no competition:

424 28th Street
Noe Valley

Days on Market (DOM): 24
3BR/2BA, no parking
List price: $1,595,000
424_28th
Finding a spacious, detached single-family home in a good location in Noe Valley for less than $2M is a bit of a challenge these days. That’s why I’m surprised no one’s snapped up 424 28th Street. Yes, this house is a little quirky, with bedrooms scattered among three levels, and no, there’s not a garage. But you can take it upon yourself to add parking (there’s an estimate on file for $120,000 for a garage installation). The sellers have secured a leased parking space in the interim that’s only half a block away. You also have front and rear backyards, views, and a family room. The house is situated two and a half blocks from the J Church Muni station and the shops/restaurants in the south end of Noe. [Read more...]

Let’s Start Pushing for “Blue” Construction in SF

Two things are certain right now: Our California drought doesn’t have an end in sight, and construction is booming in San Francisco.

The push for “green,” or eco-friendly construction erupted several years ago. But what I’m wondering is whether architects and builders can start including “blue,” or drought-friendly features in future renovations and new construction.

A recent piece on NPR discussed how Australia—which has a nine-year drought in its history—began addressing its water shortage problem by revamping home plumbing systems. Consider Melbourne, which gets 23 inches of rain annually (similar to that of San Francisco in a typical year). Half the homes in Melbourne now have systems to capture and store rain, and newer homes are being built with dual plumbing systems to recycle graywater. For example, rinse water from the washing machine goes to the toilet for flushing.

Melbourne is now down to 40 gallons per person per day, including outside watering. Californians average two to four times that amount.

Green construction is great, and should continue. But it would be awesome if, in the future, homeowners and builders would take the lead from Melbourne and create “blue” construction properties.

Real Estate Near Fort Mason, Twist in Latest Sales

There are plenty of events happening in Fort Mason, the Marina outpost that hosts food truck gatherings, the city’s best vegetarian restaurant, a music school and other more interesting enterprises. Welcome the Epic Foodie Festival to the mix, which is sponsored by the Golden Gate Restaurant Association and features multiple events such as The Grand Tasting.

And if you’re interested in real estate that’s in walking distance of Fort Mason, we profile three new listings that fit the bill.

All that plus a market overview that shows that not every sale in San Francisco sells for way over the asking price. In fact, this batch has several sales that show under-asking prices.

It’s all here in the Zephyr Market Tracker!

Hard Hat Tour: Amero in Cow Hollow

Exterior_Amero
I went on a hard hat tour of the new Amero condo building at 1501 Filbert between Van Ness and Franklin last week. Featuring 27 two- and three-bedroom units, Amero also includes one parking space per unit. (Many other properties only provide one space for every two units.) There are four penthouses, as well.

Units range from just over 1,000 square feet to 2500 square feet. Finishes will feature natural stone countertops, walls and flooring; carpeting in bedrooms; European grey oak/wide plank flooring. The kitchen will be fully stocked with Italian cabinetry, Bertazzoni ranges and Thermador refrigerators, along with polished quartz countertops. [Read more...]

Q2 Goes Out Like a Lion for SF Real Estate

Has San Francisco real estate hit its peak for 2014? That’s the word on the street among many of my colleagues, and the second quarter stats certainly point to a buyer frenzy over the past three months.

Let’s hit up the single-family home and condo markets and see how they stack up against first-quarter numbers. [Read more...]

Happy Independence Day!

fireworks
Thank you for continuing to read and support my blog! Best wishes for a Happy July 4th and great holiday weekend.

Please stop in on Monday 7/7 for my second quarter market update!

(Photo courtesy of Brandon Ku)

Ignore the “Homestead” Scam

It’s inevitable that after you complete the purchase or refinance of your home, you receive a notice in the mail from a company with a random name like “TRS” offering to prepare a Declaration of Homestead for you. They typically request anywhere from $25-$75 to draw up the declaration and send it back to you so you can take it to City Hall to record the document.

When you get the letter, throw it out. It’s a scam.

A homestead declaration, in a nutshell, is a legal document that protects the equity in your home from creditors. The reality is that homestead protection is automatic in California, so there’s no need to pay anyone to create it for you. These companies target first-time home buyers who may not be aware of all the facts.

Just Sold: 3BR Bernal Condo

267a_anderson
My clients just purchased a spacious three-bedroom Victorian condo on a prime Bernal Heights street, just half a block from the popular Cortland Avenue neighborhood hub.

Featuring lovely period detailing, a living room with gas fireplace and an open kitchen/dining area, 267A Anderson also has three good-sized bedrooms. There’s a private deck, independent parking and storage. List price was $899,000.