How’s the Market In: NoPa

“NoPa” and “NoPa market” have been popping up quite frequently lately in my blog stat search terms. That means many of you are looking for info on the subject, so it’s time to let you all know what’s going on in the North Panhandle neck of the woods.

A total of three single-family homes has sold in NoPa since the beginning of the second quarter, ranging in price from $1,012,500 to $1,353,000. They all sold for less than their original asking prices. On the condo front, 19 such properties sold for an average of $786,184 in the same time period. And nine of those homes sold for less than asking. The rest were predominantly above asking—dramatic case in point was at 2247 Turk, a 3BR/2.5BA condo with parking originally listed in January at $899,000, and which sold in May for $789,000. TICs are a big part of the real estate market in NoPa, but only three TIC interests sold in NoPa in the same time period, ranging in price from $529,000-$612,000.

There are currently two single-family homes, 15 condos and three TIC interests on the market. Days on market (DOM) for houses has been 69, and about 60 for condos and TICs. My favorite new NoPa listing at at 284 Shrader at Hayes, a top floor, 2BR/2BA condo with parking being offered at $699,000.

Prices for NoPa houses and condos have been pretty steady over the past three months.

Buyers looking in NoPa are typically in search of a spacious flat or house with proximity to parks and public transportation—not to mention hip cafes and restaurants. I listed the neighborhood as one of the best for dog owners in San Francisco, and most homes generally have high Walk Scores (for example, the aforementioned Shrader property has a 95 Walk Score). The vibe in NoPa is laid back, and I can attest to that because the sale processes in the homes I’ve sold there have usually put me in touch with very nice, down-to-earth people. There is a bit of negative street activity surrounding the Panhandle itself, but that’s probably more of an issue at night and in the early mornings.

Good Deal: Remodeled Edwardian Haight Condo

One of the ways to sniff out a good deal in the San Francisco market is to measure the average price against the subject property. And then factor in all the amenities and “value attributes” involved (location in the neighborhood, top floor vs lower floor, parking type, etc). A property you find that’s less than the average price can be a good deal. And today there’s one at 1385 Waller, a 2BR/1BA, top-floor condo with one-car independent parking located at Ashbury. Yep, quintessential Haight.

The average price since January for two-bedroom condos in what’s known as District 5 (most of the areas that lie in the central part of the city) is $777,263. 1385 Waller is listed at $750,000 and is nicely remodeled; it also has great period detail. Bedrooms are on the small side (the unit is about 1,063 square feet). But I think the property is an excellent one for a first-time buyer who wants to be in a highly walkable location (Walk Score is 95).

Another nice point is that there are only two units in the building—definitely a factor that contributes to overall value. HOA dues are $182/mo, and you also have a private laundry room.

Haight House Morphs into Luxury Condos on Page Street

The 2BR/1BA house at 1860 Page Street (above) was officially sold in 2003 for $675,000. It appears that permits were issued sometime in 2007 for constructing four units on the site. And it now looks like the project is done:

There are now four luxury condos in a modernist building on Page at Shrader, from a $449,000 garden-level studio to a 3BR/2BA listed at $1,089,000 (the other two 3BR/2BAs are priced at $1,049,000 and $1,059,000). All the bells and whistles are there—radiant heat, “professional” kitchens, white oak flooring, Marvin windows and full marble baths. Let’s not also forget the double crown molding, open living/dining areas with stone-mantled, gas-burning fireplaces, and custom paint.

First open next week, but contact me if you’d like to get in sooner.

Open House Spotlight: Haight Eastlake Stick Vic

If you’re out and about this weekend, check out the 3BR/2.5BA, 3600-square foot single-family home at 1322 Masonic (at Frederick) in the Haight-Buena Vista Park area. I sold a multi-unit building recently further down Masonic, so this listing caught my eye. It’s on a much quieter stretch of Masonic than that of my past listing.

The property is listed at $2,395,000 and is one of six “Victorian sisters” built by architect Richard Cranston. The owners have expanded and renovated the home over the past twelve years (they paid $550,000 for what was originally a five-unit building in 1998, and are listing with the same agent who sold it to them—props for loyalty). There’s a two-car garage, lovely garden, 480-square foot bonus gym/studio, and twin master suites. Here’s a look at one of them:

But back to that five-unit building history. The owners were able to do two things back in 1999 that would probably be unthinkable now. They changed the building from four studios and a one bedroom to a single-family house, and installed a garage. All with permits. Talk about seizing the day.

1322 Masonic will be open from 2-5 on Sunday 3/21.

Alamo Square Painted Lady Gets a Price Chop

It doesn’t have the cache of its neighbor one block up at 722 Steiner, but 850 Steiner is a 3BR/2.5BA “gracious grand dame with potential” that’s just become more affordable.

First listed in October 2009 for $1,850,000, 850 Steiner’s price was reduced to $1,749,000 for the holidays, but Santa didn’t bring a buyer. The seller has just reduced the price significantly to $1,495,000. The kitchen and bathrooms could use some work, but at this price, such expenses may make sense. The seller is only the third owner in the house’s history, which is kind of nice. These properties don’t turn over often.

NoPa Renovation = Two Luxury Condos

The low-key, pale blue 2BR/1BA single-family home above on Broderick between Hayes and Grove was sold in 2005 for $910,000 (listed at $799,000 at the time). It’s now resurfacing as two luxury condos with a far different exterior:

Welcome to the new incarnation of 526-528 Broderick. We now have 526 Broderick’s 1776-square foot, 4BR/3.5BA, two-level lower unit listed at $1,150,000. And upstairs is 528 Broderick, which is a 3BR/2.5BA, 1383-square foot unit all on one level.

The top level living area is pretty spacious, and they’ve even included a piano with the staging to emphasize that fact:

Most 3BR+ condos in the neighborhood have sold in the $700,000-$800,000 range. But none quite match the finishes and floorplans of 526-528 Broderick. 1696 McAllister, a 5BR condo with 3,000+ square feet and two-car parking sold last year for $1.4M. If today represents a slightly different market, the Broderick developer may be in luck. My sense is that bringing on these units now vs. Spring will work to their advantage. First open is Sunday from 1:00-4:00. (Working on finding a Web site, as there doesn’t seem to be one online yet.)

Lone Mountain Homes Worth a Look

Lone Mountain isn’t a neighborhood a lot of buyers consider when they start house hunting. The University of San Francisco is located there, and the area is surrounded by the Richmond, Panhandle, Laurel Heights and Anza Vista. For downtown commuters, the 31 and 28 buses run on Geary and Balboa. And for park lovers, Lone Mountain is perfect. It offers close proximity to the Presidio, Golden Gate Park and the Panhandle. Depending where you’re located, you can get a neighborhood membership to the USF Koret fitness facility. Your best bets for restaurants/retail areas are Clement Street in the Richmond, California Street in Laurel Heights, and, a bit further south, Haight Street.

I stopped in at three single-family homes currently on the market in Lone Mountain this week. I think the neighborhood definitely offers more bang for the buck, and the homes tend to be pretty spacious. Here’s a look at what’s out there:

190 Ewing Terrace
3BR/2.5BA
1978 sq ft
1-car parking
List Price: $1.2M
This spacious home just came on the market at the beginning of February. It needs updating, but is in otherwise clean and solid condition based on appearance. It’s located on a cute circular block and has sizeable bedrooms, including a master suite with Golden Gate Bridge outlooks. There’s the expected wet bar in the garage (typical for the area), a garden with a Koi pond (needs to be cleaned) and nice Japanese landscaping.

I liked this house because it has good bones. A buyer could come in and blow out the kitchen, create a nice master suite and connect to the hall bathroom, and update the bathrooms. But the average price for a 3BR home in Lone Mountain is $1.2M, so I’m thinking a more realistic selling price is more in the $1,050,000-$1.1M range.

25 Tamalpais Terrace
2BR/1BA
1565 sq ft
2-car parking
List Price: $995,000
I liked this house, and it’s also located on a very nice street, within what’s known as the University Terrace area. I love the Rousseau architecture, and the center patio feature within. The owners qualify for a USF Koret gym neighborhood membership, too. Only drawback is that the property is tenant occupied, and it’s a conservatorship sale—identical to a probate sale—that will require court confirmation. And keep your eye on the parking situation in the University Terrace area, as USF is contemplating adding new science labs that could attract more students (and drivers) to the neighborhood.

2539 Turk Blvd
3BR/1BR
1700 sq feet
List Price: $1.3M
The most remodeled and “done” house of the bunch, 2539 Turk is situated opposite USF and its lovely greenery. Turk is a busy street, but having that view outside your window is pretty sweet:

The home was sold in January 2008 for $1,250,000, and came on the market earlier this year for $1,395,000. It’s now down to $1.3M. The current owners spent about $175,000 renovating the property, but are now being transferred and would like to sell. They did a nice job, fabulously updating the kitchen and bath, and even incorporating a 650-bottle, acclimatized wine room on the garage level. The garage fits three cars, which is not a claim most houses in the city can make. A couple issues: The third bedroom is accessed through either of the other bedrooms (meaning it’s more of a sunroom), and the yard is covered by the third bedroom/sunroom overhang.

The Best Neighborhoods for Dog Owners in San Francisco

San Francisco is one of the more dog-friendly cities in the country, and many of its neighborhoods offer ideal environments for dogs and their owners.

I’m a dog owner myself, and frequently meet clients looking for a home in a neighborhood that will provide what we all need for us and our pets—ideally, proximity to open space, dog-friendly cafes and shops, and a community of dog owners who support each other and their ‘hood.

So here are my picks for the best dog-owner neighborhoods in San Francisco:
1. Bernal Heights. It’s got a great retail area on Cortland Avenue, with plenty of shops and cafes, including Bernal Beast pet shop. But most notably, Fit Bernal Fit opened in November 2009—a gym that invites “Bernal locals and their dogs to join us to exercise, socialize and engage in a more healthful, energetic and stress-free lifestyle.” If that’s not enough, there’s Bernal Hill itself, which has trails and off-leash areas, as well as Holly Park. The weather is superior in Bernal, so when you head out for a walk in the late afternoon, don’t expect to encounter much fog.

2. Inner Sunset. The weather may not be as desirable, but the Inner Sunset has Golden Gate Park at its doorstep. Yes, you have to keep your dog on a leash, but at least there’s a lot for your dog to smell and see. (My terriers love the gopher holes.) There’s also the Irving Street corridor, which is a great place to stop for coffee or lunch. Le Video—one of the few bonafide video stores left in the city—also lets you bring in your dog. For pet care, there’s All Animals Emergency on 9th Avenue, and Irving Pet Hospital at 15th Avenue.

3. Noe Valley. Ok, so I’m a bit biased on this one because I live here. But if there are two requirements for living in Noe, it’s that you need a dog or a kid. I’ve picked a leash over a stroller, and have plenty of company. There are two dog runs—one on 30th Street, and one up the hill at 27th and Diamond. There’s the Noe Valley Pet Company ladies at Church and Cesar Chavez, and 24th Street is the place to go if you’re in search of a dog water bowl outside a store. Le Zinc on 24th and Castro lets you bring your dog into its rear outdoor patio through a back entrance. And don’t overlook the Friends of Upper Noe Dog Owners Group, which makes sure the 30th Street dog run stays in shape.

4. Parkside. Though the Parkside doesn’t have the concentrated retail areas of the aforementioned neighborhoods, it’s near some pretty vital open spaces. There’s Stern Grove, an excellent dog-walking area. But the canine epicenter lies over at Fort Funston, a short drive away. The area even has its own Fort Funston Dog Walker (FFDW) organization that works to preserve off-leash areas and good dog ownership practices. The Parkside is also blocks away from Ocean Beach and the Great Highway, which are great places to bring your dog. The streets in the Parkside are nice and wide, so there’s plenty of sidewalk room, too.

5. NoPa. The North Panhandle neighborhood suits dog owners well, as the architecture allows for spacious flats. It’s a little more low-key than the busier Haight area, which can be stimulation overload for dogs if you decide to troll along Haight Street itself. The Panhandle is a good dog destination, as it’s a sizeable open space for walks. Nearby Alamo Square is a dog party in its own right (though you have to contend with the tourists gawking at the Painted Ladies). And check out the Dog Owners of Alamo Square and Great NoPa Yahoo group list for local resources, as well as the North of Panhandle Neighborhood Association for more general resources. There are a lot of great shops and restaurants scattered throughout NoPa to which you can walk your dog, particularly along Divisadero. Don’t forget about two key shops: Osso & Co., the pet store on Broderick, where you can pick up specialty items as well as everyday pet products, and Cats & Dogs Pet Supply, a more mom-and-pop store/groomer on Divisadero.

6. Mission Bay. Far less established a neighborhood than the others, Mission Bay is your best bet if you want to live downtown and own a dog. The Mission Creek Dog Park is up and running, which also lets you meet the other pioneer Mission Bay dwellers and their pets. If you get bored with Mission Creek, you can simply walk your dog up and down the Embarcadero, which has wide streets and provides nice Bay views. Mission Bay’s park system is still developing, and I’m betting the neighborhood will build its own very organized dog community over time.

Best Trick or Treat ‘Hoods in SF

I came across Zillow’s Trick or Treat housing index yesterday, and found its picks for Best Trick or Treat Neighborhoods to be very amusing.

You can’t argue with the winners: Presidio Heights, Noe Valley, Richmond, Haight, and Sunset. But I’ll also nominate Cole Valley (have you ever seen Belvedere Street in action on Halloween?!) and Potrero Hill.

So readers, what neighborhoods do you nominate for the best Halloween spirit? Comments, please! And have a fun and safe Halloween, everyone!

New Listing: 1750 Page Street

LR1If you have some time this weekend, stop in and see me at my new listing from 1:00-3:00 on Saturday & Sunday at 1750 Page Street between Cole and Clayton in the Haight.

This two-bedroom, one-bath Victorian top-floor condo has great period detail and has a 100 Walk Score. There’s one-car tandem parking plus a deeded storage room. You’re around the corner from the Panhandle, and all the shops and restaurants on Haight Street—not to mention a stone’s throw from Golden Gate Park. List price: $749,000.

New Listing: 1006-1010 Masonic Avenue

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Welcome to my new listing at 1006-1008-1010 Masonic Avenue.

This Edwardian property features three spacious units with two vacant and one tenant occuped (at $2,444/mo). Fabulous period details abound in all units, including original built-in cabinetry, bay windows, and high ceilings. The top unit has seven rooms, and the middle and lower units have six rooms. That breaks down into three bedrooms per unit.

There’s a large basement with ample storage, and the location has a 94 Walk Score—close to Haight/NoPa shops, restaurants, Golden Gate Park and public transportation. List price: $1,295,000.

Three 3BRs for $800,000

There was a time when it was a challenge to find spacious, three-bedroom condos for $800,000. I saw three such properties on my broker tour yesterday:

buchanan
425 Buchanan
Hayes Valley

3BR/2BA
1,843 sq feet
$300 HOAs; $250 for leased pkg
This unit features five walk-in closets, two bedrooms with fireplaces, and a nicely remodeled kitchen. The unit was on the market initially back in April, asking $863,000. By June, the current agent took over and reduced the price to $849,000. The most recent price reduction is what’ll probably sell the unit. Plus: Large square footage, very separate bedrooms. Walking distance to heart of Hayes Valley retail area and Market Street. Minus: One block from housing projects; somewhat rambling floorplan that dead ends in odd places; leased parking.

haight
974 Haight
The Haight

3BR/2.5BA
1,778 sq feet
$429 HOAs
1-car pkg
You get two master suites in this condo, and two levels, which makes it feel house-like. The front of the property faces Haight Street, and the rear faces a courtyard. A good fit for a buyer who wants a roommate to offset costs. Plus: Large square footage, very separate bedrooms. Walking distance to Divisadero retail area & Buena Vista Park. Minus: Built in 1987, and not the most appealing exterior/interior in the architectural spectrum.

tiffany
156 Tiffany
Mission/Bernal Heights

4BR/2BA
1,975 sq feet
$185 HOAs
2-car pkg
This condo spans two levels and provides the most square footage of the three. Good closet space, remodeled kitchen. The lower unit, 154 Tiffany, is a 2BR unit pending at a $739,000 list price. Plus: Two-car parking; house-like floorplan; legal two bedrooms and bath upstairs; walking distance to public transportation & lots of restaurants, grocery store. Neighbors are tight. Minus: Some of the neighboring properties are not wildly attractive.

What You Get for: $500,000

Here’s a look at what’s available in three distinct neighborhoods in San Francisco at the $499,000 price point:

724cole724 Cole at Waller is a 1BR/1BA condo in the Haight with about 628 square feet, one independent parking and $225 HOAs. The building isn’t the most charming architecturally speaking, but this four-unit property is on the Cole Valley/Haight border and has a 98 Walk Score.

Then there’s 856 Green #A at Taylor, in the coveted Russian Hill area:green

You’re paying for the pano views from this 1BR/1BA unit. The property, however, is tenant occupied, with a lease in place until the end of the year. There’s no parking. HOA dues are $275 monthly. Couldn’t find square footage anywhere.

Finally, there’s South of Market’s 940 Natoma #4 at 9th Street, a 1BR loft with 682 square feet built in 1994.
natoma

There’s a private patio, bamboo floors, one-car parking and extra storage. HOA dues are $265 per month.

3BRs for Under $800k in NoPa, Cole Valley

Two condos I saw this week struck me as being good values for their asking prices:

452017th4520 17th Street is a 1352-square foot 3BR/2BA top-floor unit on two levels. It features two patios, a common fitness area, and low $152 HOA dues. There’s parking and storage, and views from the front patio. Located almost at the top of 17th Street, the property is not far from the Castro and Cole Valley’s retail area. List price: $789,000.

941 Broderick in the North Panhandle is a generously proportioned 3BR/2BA condo with an exclusive patio and yard. The unit is located within a three-unit building, and is in good proximity to the NoPa restaurants and retail areas. List price: $759,000.

There was a time when finding a three-bedroom condo for under $800,000 was rare. Now, the opportunities are out there for buyers.

1 Baker #4A Bags a Buyer

baker3bThe two condos over at 1 Baker have been battling it out for the last few months in search of buyers.

Big news: #4A landed in contract at the end of April. Its last list price was $679,000 for this 2BR/2BA unit with about 1337 square feet. Is there a buyer for #3B out there (photo above)? That list price was just reduced to $675,000. Not sure what the hold up is; this is a nice Haight location right off Buena Vista Park, identical in the number of bedrooms, bath and square footage.