Category Archives: Market News

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

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

Just Sold: 130 Gates in Bernal Heights

Just Sold: 130 Gates in Bernal Heights

My lovely three-bedroom house listing at 130 Gates closed this week. We worked hard in the pre-listing phase, pulling together painters, cleaners, haulers and stagers. In the end, we found a fantastic buyer who loves the house, and have happy sellers.

List price for Gates was $1,195,000, and we closed for $1,495,000. That’s just over 25% above the list price, which is the average overbid in Bernal for three-bedroom houses in good locations.

A special shout-out to Zephyr agents Sabrina Gee-Shin and Kelly Quon, who did an excellent job representing their client and were on top of every detail. Aileen Hom at Wells Fargo expertly guided the buyer’s loan along. And much thanks to Michelle Patterson at Old Republic title for her masterful escrow work!

Time is running out to get new listings ready, on the market and sold. If you’d like to talk about selling your house this Fall, please contact me. I’m also available to strategize with sellers interested in putting their properties on the market in 2016.

Queen Anne For Sale Again a Year Later, in Mid Renovation

Queen Anne For Sale Again a Year Later, in Mid Renovation

If you have $4,500,000 hanging around, would love a classic Queen Anne Victorian near Buena Vista Park and want to jump right into a renovation, look no farther than 1450 Masonic.

The 6BR/5.5BA, 6,000 square foot house was sold in July 2014 for $5,375,000. Permits were issued in November 2014 for a remodel of the kitchen and three bathrooms, and the current owners are now selling the house in mid renovation. (Hint: There’s no kitchen.)

You’ll also have to sign a waiver of liability to tour the property. So don’t count on wandering in after a boozy brunch in the neighborhood.

Modernist Potrero Home Breaks Sales Record for Neighborhood

Modernist Potrero Home Breaks Sales Record for Neighborhood

The off-market sale at 1740 20th Street at Wisconsin in Potrero Hill is the most expensive home ever reported sold in the neighborhood.

Quietly sold in mid-September for $9,500,000, the 3BR/2.5BA home originally built in 1950 has just under 3,000 square feet, pano views and a commanding 50 x 100 corner lot in a prime location. And yes, that breaks down to about $3,100 per square foot that the buyer—Atom Holdings LLC—paid for this property. Continue Reading

What You Can Buy: Condos Under $1,000 Per Square Foot

It’s no secret that the list price per square foot for condos is topping $1,000/square foot these days—with actual sale prices rising above that. And while I’m not a huge fan of relying completely on price-per-square foot as a data point, I do reference it when it comes to home values.

The good news is that the condo market currently has 125 units listed in San Francisco for under $1,000/square foot. The average list price for condos in this category is $1,144,151, with 15 condos listed for the ever-popular $899,000 price. ($995,000 is right behind that price point.)Continue Reading

SF Real Estate Summer Recap 2015

Welcome to the Fall real estate season in San Francisco, when the clock ticks down to the holidays and the serious buyers and sellers break away from the pack. And for that reason, Fall is my favorite time to sell real estate. You either get it done, or you don’t.

Buyers who have been feeling out the market and hoping for a price correction throughout 2015 will decide once and for all whether a new home or investment is in the cards for them this year. And sellers listing their houses in September and October have the better part of a year’s worth of data to help them decide whether they’re comfortable with the true selling range of their homes.

It’s a good time to recap what happened over the summer in the single-family home and condo markets, because June-August comps will influence how much buyers are willing to pay in the Fall.Continue Reading

SF Real Estate Sees Its Share of Summer Overbidding

The summer may have quieted down the market a bit in San Francisco, but that doesn’t mean prices are softening or that buyers have backed off from extreme overbidding (25%+ above the list price). In fact, we have three cases this month of irrational overbidding, too (50% or more over asking).

Of the 74 sold houses so far in August, 23 of them sold for 25% or more over asking. However, the condo market is definitely not experiencing parallel activity. Only six of the 62 units sold traded hands for more than 25% over asking.

Houses on the west side made a strong overbidding showing this month. Thirteen of those 18 houses sold for 25% or more above the list price were located in the Sunset, Parkside, Richmond and Golden Gate Heights. Buyers for the tenant-occupied house on Capp at 22nd Street in the Mission paid $1M in cash for what’s presumably a development opportunity.

Here’s how things have gone so far in August 2015:

Extreme Overbidding (25%+ over asking)
763 36th Ave / Outer Richmond
List Price: $788,038 / Sale Price: $985,000 (25%)

554 45th Ave / Outer Richmond
$1,125,000 / $1,500,000 (33%)

2080 14th Ave / Golden Gate Heights
$899,000 / $1,302,080 (45%)Continue Reading

SF Condo Market Sees Summer Softening

SF Condo Market Sees Summer Softening

The San Francisco condo market tends to hop into a hammock for a siesta around July and August. For buyers who aren’t on vacation and serious about snagging a new home or investment property before the big Fall push, summer can present a wonderful opportunity to avoid bidding wars and get a pretty good deal.

There are 200 condos on the market as of this writing, and almost half are looking at a days on market (DOM) count of 21 days or more. 38 of these condos are listed for under $1M, and 29 for $1.5M+. For once, the luxury market isn’t leading the market-sitter pack.Continue Reading

Spotlight on Russian Hill, Parks, and SF Sales

The latest Zephyr Market Tracker checks out a trio of hot listings in the coveted enclave of Russian Hill. Interested in visiting one of San Francisco’s parks—without actually going to one? We take a look at Rec and Park and Google’s joint street maps venture that lets you tour parks virtually.

We also give you the scoop on the most recent stats, plus individual sales. It’s all here in the Zephyr Market Tracker!

Get in touch:

Eileen Bermingham

Zephyr Real Estate


BRE# 01352627

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