Author Archives: insidesfre

The Highs and Lows of SF Real Estate: April 2015 Edition

Our real estate market is moving at a brisk pace, so I thought it would be a good time to reflect on the least and most expensive houses and condos sold so far this month.

Single-Family Homes
Least Expensive House:
80 Seneca
Mission Terrace
80seneca_missionterrace
Listed for $499,000 and sold nine days later in a cash transaction for $555,000, 80 Seneca was the rare house for well under $1M in San Francisco. The 750-square foot property needs a “full rehab” and only has one bedroom. But with the average house price in the neighborhood holding steady at just over $1M, these buyers can do their renovation and most likely end up with a property that holds its value.Continue Reading

What You Risk When You Waive Contingencies

Inventory hasn’t kept up with buyer demand for a while now in San Francisco. That’s led to very competitive offer situations and high sale prices. Most multiple-offer situations end up with a handful of buyers waiving all contingencies (e.g., conditions of the sale) in order to make their offer as attractive as possible to the seller.

But do all buyers realize what’s at stake when they waive all contingencies? Sometimes I’m not so sure.Continue Reading

Another 5-Star Yelp Review from a Happy Seller!

It’s always gratifying to have happy clients at the end of a transaction. My latest unsolicited Yelp review comes from my client who recently sold her Eureka Valley condo (click on review to enlarge):

yelpreview_michelle

Please get in touch if you’re getting ready to sell your San Francisco property. I am ready to guide you through all phases of the process, from managing prep work to negotiating the best possible deal for you. I’m at 415.823.4656 / ebermingham@zephyrsf.com

Sales Volume Down, Prices Up in Q1 2015

The big news for the first quarter of 2015 is that sales volume dropped like a rock compared to Q4 2014.

But prices edged up even higher.

Bottom line: There were 41% fewer single-family home and 28% fewer condo sales in the first quarter of this year. Of course, the first quarter of any year is typically slower due to buyers and sellers recovering from the holidays. But given the frothy nature of the market right now, I would have expected a touch more volume.

Here’s a snapshot of how things went down in the two most popular segments of the real estate market:Continue Reading

Just Sold: Miraloma Park Charmer

Just Sold: Miraloma Park Charmer

I am happy to report that my clients were the successful buyers of an utterly charming 3BR/2BA house in what’s called “old” Miraloma Park. Tastefully remodeled and fully detached, 830 Rockdale has breakfast room views of Twin Peaks and the Marin Headlands. The lower level features a large family room and second bath, with direct access to the huge yard.

Listed for $1.1M, 830 Rockdale sold for $1.4M. Hats off to Marco Nevarez at First Republic for expertly guiding us through the loan process. And much thanks to listing agent John Beeney at Paragon and escrow officer Heather Shiffer at First American for their professionalism and ability to get things done.

My clients were gracious enough to refer me to friends of theirs who are currently interested in a home purchase. In doing so, they wrote this testimonial that I wanted to share. If you’re thinking of jumping into the San Francisco market this spring, please don’t hesitate to contact me!

“We have been tremendously impressed with everything Eileen has done for us. I’m not easily impressed, but I honestly think Eileen takes the long view and represents the best interests of her clients at every stage. She has lots of contacts…. the referrals she has given – insurance, loan brokers, etc – have all been excellent.

This was my first time buying a house in the US, and so I’ve had a lot of questions….Every single one, no matter how insignificant, she has patiently answered.

I whole-heartedly recommend Eileen as a guide through the crazy SF real estate market!”

Short List of Eileen’s Sales

830 Rockdale
Old Miraloma Park

1920s Single-Family Home
List Price $1,095,000
Sale Price $1,400,000
Represented Buyer

My Top 5 Condo Deal Breakers

You’ve spent three hours looking at various real estate Web sites and have narrowed down your favorites for this weekend’s open house touring.

In the end, three of those units have HOA dues that are well above what you can afford, and another two have serious pet restrictions that won’t work for your two yellow Labs.

Knowing the fundamentals about a condo and its HOA can save you time when it comes to targeting your search. Here are my top five deal breakers to help you narrow down your prospects. Because let’s face it, you can only see so many homes between 2:00 and 4:00 on a Sunday:Continue Reading

Opportunities Abound in High-End Market

Opportunities Abound in High-End Market

There are plenty of homes that have been sitting on the market in San Francisco for 21 days or more—especially for home buyers in the $2M+ range.

Of course, the buyer pool is smaller in this range. And in the same way that some sellers in lower price ranges set a list price that misfires, high-end homeowners can do the same thing. Buyers at all price ranges can be price sensitive; just because you’re ready and able to spend $6,000,000 doesn’t mean you’ll fork over that amount for a house that isn’t worth that price.Continue Reading

Location is #1 Priority for 1BR Condos

The one-bedroom condo is a popular choice in San Francisco. Of course, one bedrooms have their limitations and aren’t for everyone. Because of the narrower buyer pool, you can increase your chances for good resale value by purchasing a unit in a desirable neighborhood central to services, public transportation, and restaurants/cafes.

The average price for a 1BR condo has jumped in recent years. It’s $791,306 as of the time period from December 2015-March 16, 2015. 14% of the 182 1BRs sold had price tags in excess of $1M. Continue Reading

Defer Paying Taxes with a 1031 Exchange

A 1031 exchange is an excellent option for investors looking to cash in on the San Francisco market. You can defer paying big capital gains taxes, move up to a bigger and better investment property, and build your wealth in the process.

The Internal Revenue Code Section 1031 allows investors to reinvest proceeds from the sale of one investment property into another similar property while deferring capital gains that would otherwise be due on the sale.

Here are the four simple guidelines for exchanges, as per the Asset Exchange Company in San Francisco:Continue Reading

Thanks for Another 5-Star Yelp Review!

It’s always a pleasure to receive an unsolicited Yelp review from happy clients. The latest is from the sellers of a house in Ingleside, which closed escrow a few months back. My clients were a pleasure to work with; I consider myself fortunate to have met and helped them. (Click on the review to enlarge.)

yelpreview_dax

If you’re thinking about buying or selling in 2015, please get in touch with me at ebermingham@zephyrsf.com or 415.823.4656. I am actively seeking new clients and would love to chat about your plans. Check out my other 28 Yelp reviews if you’d like to read more about how I work with clients.

Just Sold: Edwardian Condo in Eureka Valley

Just Sold: Edwardian Condo in Eureka Valley

I just sold my two-bedroom condo listing at 4527 19th Street on a great block in the Castro. Loaded with period detail, a handsome exterior and only a few blocks away from the heart of the Castro, Mission Dolores and more, the condo was very popular with buyers. List price was $899,000.

We received multiple offers, and the final sale price was $1,150,000.

Big shout-out to the buyers’ agent, George Limperis at Paragon Real Estate, and their mortgage broker John Ebner of OPES Advisors. We also appreciated the always-stellar work of Michelle Patterson at Old Republic Title. Thanks, everyone!

Condo Cash Buyers Back Off from Big Overbids

Cash buyers continue to make a strong showing in the San Francisco market, accounting for 20% of transactions that closed over the past three months.

But when it comes to houses vs condos, these condo buyers are pulling back from big overbids. The average overbid was only 2.32% vs 10.26% for house buyers. And only 9% of cash condo sales saw overbids of 20% or more—possibly indicating a less frothy Spring condo market. Continue Reading

Today’s Buyers Love “Done” Homes

The real estate market is booming, and many potential home sellers are wondering if it might make sense to do some remodeling for sale purposes. The answer? Yes. A little sprucing up can go a long way with today’s buyers—and maximize your selling price.Continue Reading

Get in touch:

Eileen Bermingham

Zephyr Real Estate

415.823.4656

ebermingham@zephyrsf.com

BRE# 01352627

Back to Top

Back to Top

Show All
Marina
Mission