For those of you looking for a brick and timber loft building in the hip Media Gulch neighborhood, today’s your lucky day. Unit 111 is now available in the historic Mill Building, otherwise known as 720 York. Built in 1879 as a wool mill, the property was converted in 1998 to 45 lofts. This unit has one bedroom, one bath, and parking, and is being offered at $645,000. The last reported sale in the building was in February, at which time a 1BR/2BA sold for $750,000.
Hayes, Arterra Appeal to First-Time Buyers
December 10, 2008 By Leave a Comment
I’m in the process of assisting one of my first-time home buyer clients with a purchase at Arterra, the city’s first LEED-certified green complex in Mission Bay, developed by Intracorp. There are a handful of one-bedroom units with parking still available that are priced in the high $500,000s. We managed to get into contract at a much lower price, and my client also locked in a very low interest rate, to boot. Though she’s happy with this deal, she’s also happy with the amenities Arterra offers: 24-hour hour front desk with concierge services; state-of-the-art fitness center; community lounge; rooftop sundeck with a bbq and views; and a fully furnished guest suite for homeowners’ friends and family.
Over at Intracorp’s sister development, The Hayes, there are a couple one-bedrooms with parking still available in the same range. The Hayes is a nice neighborhood location—close to restaurants and public transportation. There is also a fitness room (though not as bright and sunny as that of the Arterra). The one bedrooms don’t have a particularly great outlook. However, if your price point is around $500,000, you’re either looking at a high-risk TIC interest purchase in a multi-unit building, or a solid one bedroom in The Hayes.
Best Holiday Deals for Houses
December 4, 2008 By Leave a Comment
Where will you find the best deals between now and New Year’s Eve?
I ran a report on the number of single-family homes currently on the market in San Francisco, and came up with a whopping 604. But in which parts of the city will you most likely be able to capitalize on an abundance of inventory?
It helps to break things down by neighborhood:
1. Richmond/Sunset:
Number Available: 120
Median List Price: $899,450
Average Days on Market: 57
Note: The Central Richmond, Golden Gate Heights, and the Outer Parkside/Sunset areas are rife with single-family home inventory.
2. Ingleside/Forest Hill/Miraloma Park
Number Available: 123
Median List Price: $850,000
Average Days on Market: 72
Note: Check out some open houses in the Ingleside neighborhoods, which include Ingleside, Ingleside Terrace, and Ingleside Heights. The bulk of available homes lies there.
3. Noe/Eureka/Cole Valleys
Number Available: 83
Median List Price: $1.5M
Average Days on Market: 66
Note: Inventory is more limited here, and price points much higher. But Noe, Eureka and Cole Valleys actually have a higher ratio of available homes to qualified buyers.
4. Hayes Valley, Lower Pacific Heights
Number Available: 14
Median List Price: $1,857,000
Average Days on Market: 55
Note: Generally a low-turnover area, homes in these areas are usually larger Victorians that fetch well over $1.5M. Even so, half of these homes have had price reductions since they’ve come on the market.
5. Pacific Heights/Russian Hill
Number Available: 43
Median List Price: $2.8M
Average Days on Market: 132
Note: Simply put, the luxury single-family home market is hurting a bit right now. These two neighborhoods pretty much hold 95% of the inventory in the area. Judging by the days on market average, Pac Heights and Russian Hill sellers are probably hungering for offers.
6. Mission/Bernal Heights/Potrero Hill
Number Available: 48
Median List Price: $799,000
Average Days on Market: 64
Note: Bernal is the hands-down king of inventory in this region, with 34 homes available.
7. Excelsior/Outer Mission/Bayview
Number Available: 172
Median List Price: $550,000
Average Days on Market: 97
Note: The epicenter of the short sale/foreclosure market in San Francisco, these neighborhoods have a ton of inventory that’s been sitting for a while. Though the Excelsior district has the most single-family homes available, not far behind are Portola, Mission Terrace, Silver Terrace, and Visitacion Valley.
