Author Archives: insidesfre

Happy Thanksgiving!

Happy Thanksgiving!

Thank you to all of you who’ve been reading my blog faithfully over the years, as well as to those who have connected with me and have done business with me this year. I am truly grateful for those opportunities.

May you have a fantastic Thanksgiving, and I’ll see you back here next week!

Extreme Overbidders Place High Value on the Potential

Extreme Overbidders Place High Value on the Potential

Prices for single-family homes that need work or have great development potential are hitting all-time highs in San Francisco. Buyers looking to fix up properties for themselves are duking it out with developers, particularly if the properties are in desirable neighborhoods.

With prices soaring well past $4,000,000 for large, newly renovated homes in areas like Noe Valley, buyers feel justified paying $2,000,000 or more for their project house.

Take 818 Douglass in Noe Valley (see photo), a Victorian fixer listed for $1,095,000 and snapped up by a developer for $1,810,000. He’ll undoubtedly go on to vertically and horizontally expand the property and flip it for $5,000,0000 or more, justifying the 65% over asking paid.

And then there was 43 Everson in Glen Park, a 4,000-square-foot view home that needed updating and featured this kitchen:

Cash buyers just forked over $2,350,000 for that one.

One of the popular properties on the market now—taking offers today, about a week after coming on the market—is 51 Mirabel ($895,000) in the hot Precita Park area of Bernal Heights. The Victorian home’s kitchen and bathroom are situated at the front of the house, with a bedroom on the main level and an additional room downstairs accessed via the back staircase. Though some may think Mirabel is move-in ready, it’s likely the prevailing buyer will be paying money for a major renovation project.

What You Need to Know About SF Property Taxes

In honor of property tax season, I wanted to round up property tax basics for all of you future homeowners. There’s a lot to know, and property taxes are something you don’t really think about until you’re scrambling around trying to pay them on time.

And if you’re a current homeowner, be aware that your payment will be delinquent after December 10th!

Here’s what you need to know, in a nutshell:
Property taxes are based on a percentage of your home’s value. The property tax rate changes slightly each year. For example, for the tax year 2011-12, the rate was 1.1718%. But for 2012-13, it’s 1.1691%.Continue Reading

Coming Soon and Off-Market Opportunities: November 12, 2015

Off-market land is quiet this week, but that’s probably because inventory is slowing down in general. Here are my picks for this week’s up-and-comers:

216 Yerba Buena / Monterey Heights
2BR/2BA home with expansion potential, 2 pkg

130 Vienna / Excelsior
4BR/3BA + two bonus rooms up, 1 pkg

Sunnyside Single-Family Home
2BR/1BA Marina-style home, huge garage
Price upon requestContinue Reading

Buyers and Sellers: Use October Sales as Your Guide

We’re well into the Fall real estate season, and the holiday home stretch is just around the corner. October numbers will be the best guide for buyers and sellers as they respectively decide how much to offer and how much they want for their homes.

Here’s where we are right now in the market.Continue Reading

Just Listed and Sold: Off-Market Home in Potrero

Just Listed and Sold: Off-Market Home in Potrero

I just represented the seller in an off-market sale at 1133 Wisconsin in Potrero Hill. One of the neighbors was interested in purchasing the house, and my client decided to forego the disruption of staging, painting and preparing the house for sale in favor of a private transaction.

The home has two bedrooms, one bath and a deck with Bay views. There’s also a large garage, and the location gets some of the best weather in San Francisco!

Special thanks to Pacific Union’s Rob Costabile, who represented the buyer. Kudos, as well, to Michael Ostby at First Republic for handling the loan, and First American’s Kevin Thompson for a stellar escrow.

Final sales price was $895,000.

SoMa’s Sapphire Slashes Prices

SoMa’s Sapphire Slashes Prices

The sales team at 252 9th Street in SoMa, known as Sapphire, has been marketing its 15 well-appointed new condos since September. Though some of the units are in contract, there are still plenty available. And prices are about to be slashed significantly.

Savvy buyers, take note: Sapphire offers one- and two-bedroom condos that feature European oak hardwood floors, high ceilings, kitchens with Bertazzoni gas ranges, and washer/dryer hookups. Amenities include patios or balconies in select units, a fantastic roof deck with amazing city views, bike parking, storage lockers, and elevator service to all levels. HOA dues are in the $400-$500 range.Continue Reading

Which Neighborhoods Have the Best Weather?

If you’re new to San Francisco, then it’s important to be aware that our city has a variety of microclimates. One minute you can be driving around with the top down, sweating, and the next you’re turning on the seat warmers. If you’re considering purchasing a home here and are particularly weather sensitive, it’s important to know which neighborhoods tend to have the most favorable climates.

Of course, San Francisco has citywide fog and wind no matter where you go. But some areas have longer periods of time during a given day when the sun shines and the wind is at a minimum. So here’s a quick rundown:Continue Reading

Price Reductions Creep Into San Francisco Market

Price reductions aren’t too common in the go-go market we’re experiencing in San Francisco right now. But they do happen occasionally. Savvy buyers know that price-reduced properties could be great opportunities to avoid multiple-offer situations and way-over-asking bids. Behind every price reduction is a motivated seller.

Of the 284 houses available now, only five have had recent price reductions. And only 14 of 354 active condo listings have chopped their list prices.

Here are my picks for three condos that are ready for offers now.Continue Reading

Coming Soon and Off-Market Opportunities: October 28, 2015

A good portion of the Fall inventory is on the market, but there are some properties quietly being marketed outside the MLS. Here are my picks for this week:

507 Capp / Mission
Grand 5BR/6BA renovated Edwardian on three levels, garden, 3 pkg

2771 38th Avenue / Outer Parkside
3BR/2BA remodeled house, 1 parking

555 4th Street #513 / SoMa
2BR/1BA, 1 pkg
$1,050,000Continue Reading

Where PG&E Gas Lines Are in San Francisco

Where PG&E Gas Lines Are in San Francisco

It’s been a few years since there have been high-profile PG&E gas line fires in The Bay Area. The San Bruno disaster happened in 2010, and a street went on fire in Oakland due to a gas line eruption in December 2013. Earlier this year, a natural gas pipeline in Fresno exploded, injuring eleven people.

San Francisco has fortunately not been the site of a similar fire recently. However, the gas lines do run underground in the city, and it’s important to be aware of their locations as part of your due diligence when buying a home. You can easily consult the pipeline map on PG&E’s Web site. Just click on the map, and zoom in on San Francisco until you can see the actual street names and gas lines. You can also type in a property address to see which lines are potentially nearby.Continue Reading

Just Sold: Ingleside Heights Condo

Just Sold: Ingleside Heights Condo

I’m extremely pleased to let you know that my client just closed on the purchase of a lovely condo in the Oceanview Village community in Ingleside Heights.

Oceanview Village is within walking distance of BART, has useful commercial spaces (like a 24-Hour Fitness) and is also near 280 for South Bay commuting. It’s become a popular spot for first-time home buyers looking spacious, well-appointed condos with parking.Continue Reading

Engine No. 44 Hits Hot Luxury Market—Again

Engine No. 44 Hits Hot Luxury Market—Again

The former firehouse at 3816 22nd Street that was transformed in 2007 into a modern home on a prime Noe Valley block is back on the market.

Engine No. 44 was originally built in 1909, and was sold by the San Francisco Fire Department in 1959 to well-known local artists, Mark Adams and Beth Von Housen. The building was sold in 2006 for $2.1M ($600,000 under the list price) and completely renovated in 2007.Continue Reading

Coming Soon and Off-Market Opportunities: October 21, 2015

Though a good portion of the Fall inventory is on the market, there are some properties quietly being marketed outside the MLS. Here are this week’s offerings:

Six Newly Rebuilt Flats on 19th Street @San Carlos / Mission
2BR +den/2BA residences, each have exclusive storage/bonus rooms
Fractional financing for TICs
$$1,100,00 – $1,195,000

3816 22nd Street / Noe Valley
4BR/3BA house, renovated firehouse, four very contemporary levels

315 Arlington / Glen Park
2BR/1BA condo, garden, 0 parking

268 Day #4/ Noe Valley
2BR/1BA top-floor condo, 1 pkg

1257 Guerrero / Noe Valley/Mission
Bonafide Victorian bed and breakfast with 9BRs/9.5BAs, 4% cap rate, striking painted lady exterior
Continue Reading

Get in touch:

Eileen Bermingham

Zephyr Real Estate


BRE# 01352627

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