Grand SoMa Development Takes Leap Forward

The four-acre development planned for Fifth and Mission in SoMa has grand plans—1,200 new residences and 150,000 square feet of retail, for starters. But there are renderings online now, and the project could break ground in 2016 if approved.

Moving north west across town, we take a look at what’s on the market in uber-hot Hayes Valley, from a loft to a Victorian condo.

Plus, news on Coit Tower’s murals and the most current San Francisco sales and stats.

It’s all here in the Zephyr MarketTracker!

Just Sold: 2BR Mission Bay Condo

300Berry1010 lr3
Marketed throughout the Giants’ World Series games, my listing at 300 Berry #1010 was a popular unit at the Arterra. We worked around game days and managed to get a ton of prospective buyers, agents and neighbors through. #1010 was a southwest-facing corner unit with two bedrooms, one bath, in-unit laundry, storage and parking. List price was $979,000.

We received six offers, and ended up accepting a cash offer with a seven-day close for a sale price of $1,080,000, Chalk it up to a hot Mission Bay market!

Luxury Market Going Strong in Fall 2014

250cumberland
San Francisco real estate in the $2M+ price range continues to experience a healthy sales volume. There doesn’t seem to be a shortage of buyers, particularly those paying in cash. Chalk it up to two factors—tech company stock options, and buyers’ desire to live in large homes in prime neighborhoods.

Case in point: 250 Cumberland (above), initially sold in 2012 for $1,775,000 as a major two-unit fixer that had been partially gutted by a fire. Flash forward to 2014. Rebuilt as a 5BR/4.5BA, 3,974-square foot single-family, the home was purchased by cash buyers for $6,000,000 at the end of October. [Read more…]

Holidays Approach, Time To Make Your Move

We’re speeding toward Thanksgiving, which only means one thing when it comes to San Francisco real estate: Inventory will decline after turkey day, and serious buyers need to take a second look at what’s been sitting on the market.

There are 255 single-family homes and 288 condos currently available, a good portion of which have been on the market for three weeks or more. Take 7 Burnett ($1,695,000), a beautiful 3BR/2BA Twin Peaks condo with this view:

view_burnett

Or for something more quirky with amazing curb appeal, look at 10 Carmel ($3M) in Cole Valley–a 1909 firehouse that’s now a very cool pad for a buyer who likes entertaining and living in a unique home:
10carmel_exterior

It’s definitely time to buckle down and work with current inventory. Our market moves so quickly that you can sometimes get obsessed with new listings and completely miss out on homes that won’t involve tedious multiple offers and overbidding. Give me a shout if you need some help finding the right place. I’ll be in town and ready to work!

Just Sold: Cole Valley Condo

286Parnassus LR1
My one-bedroom condo listing at 286 Parnassus in Cole Valley closed last week. Listed for $579,000, the property was very popular with first-time home buyers looking to get into a well-maintained unit in a great location. We received five offers and the condo sold for $630,000.

If you’re planning to sell or buy a similar type of home, please give me a shout at 415.823.4656 / ebermingham@zephyrsf.com. I’m currently lining up business for 2015, and would be happy to talk with you about how I can help you with your real estate goals.

Live the San Francisco Lifestyle in Mission Bay

300Berry1010 lr3
We’re in our second and final weekend of showings for my 2BR/1BA view condo at 300 Berry #1010 in fast-growing Mission Bay. Situated in the southwest-facing corner on the tenth floor, this unit has it all—amazing outlooks, in-unit laundry, gas range, fantastic finishes and parking/storage.

Arterra also has excellent amenities like a view roof deck, community lounge, fitness room, 24/7 attended lobby and guest suite. The building is LEED Silver-certified, a huge plus on the green construction front. HOA dues are $505/month, which is below average for the neighborhood.

List price is $979,000, and our Web site is here.

And we’re just down the street from AT&T Park. So stop in on Sunday from 2:00-4:00, and hit the Giants store before or after for your tee shirts, caps and Christmas gifts. Hope to see you on Sunday!

Just Sold: Big House in the Excelsior

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My clients just closed on a great house at 648 Lisbon in the Excelsior. Not only does the house have four legal bedrooms, two updated bathrooms and an updated kitchen, there’s also a spacious third level that can be used for guests or a family room. Lisbon has big views from all levels, too. The other night when we were at the property for a walkthrough, I took this photo of the stunning sunset from the back deck (no filter here, either):

lisbon_view

List price was $929,000, but we got the property for less than asking—even in this competitive seller’s market. Much thanks to Chris Pessy and Kyle Garner at HomeStreet, who expertly guided us through the loan process.

Just Listed: View Condo at Arterra in Mission Bay

300Berry1010 2br1
Just down the street from all the World Series action at AT&T Park is my new two-bedroom condo listing at Arterra (300 Berry Street). This corner unit has fabulous views of Twin Peaks, The Bay, Mission Creek and more. And it has all the amenities—parking, storage, in-unit laundry, as well as 24/7 lobby attendance, a gym, guest suite, and view roof deck.

Arterra is LEED Silver certified and also has reasonable HOA dues in comparison to other buildings in the neighborhood. List price is $979,000. For more details, photos and showing schedule, please visit 300berry1010.com

Next open will be Sunday, 10/26 from 12:00-2:00. Stop in and see me. Go, Giants!

Don’t Forget About Lofts in San Francisco

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Lofts have always been one of my favorite types of homes in San Francisco. With their high ceilings, open spaces and large windows, lofts always feel bigger than they actually are. Developers went on a loft-building spree in the late 1990s-early 2000s to create live-work housing in “transitional” neighborhoods like South of Market, The Mission, South Beach, and Dogpatch. And these properties still offer good bang for the buck.

The new construction coursing through the city no longer includes lofts. But it’s important not to overlook existing loft inventory, as it provides a unique, spacious form of housing that’s near downtown, freeways, public transportation and some of the best restaurants in the city. And most lofts come with parking and modest HOA dues, which can’t be said for today’s new construction condos. [Read more…]

What You Can Buy: Smart Investments for Owner Occupiers

One of the most strategic and desirable investments you can make in San Francisco is to purchase a three- to four-unit property that has one or more units vacant, a garage, and a good neighborhood location. Let’s face it, rents in the city are high, and if your rents reflect today’s market, you’ll be ahead of the game in the long run.

It’s extremely important to be well versed in San Francisco’s rent laws before you consider such a purchase. I’ve been a successful owner-landlord for the past 16 years, and there’s definitely a list of do’s and don’ts to which you’ll want to adhere. You also will want to have a large down payment or you’ll have no cash flow. Here are three properties worth a look, particularly if you’re in this for a long-term hold:

1031-1037divisadero
1031-1037 Divisadero
Neighborhood: NoPa
The Deets: Two vacant Victorian two-unit buildings on one lot with a capacity for eight-car parking. There are two 1BR/1BA units, and two 2BR/1BA flats.
List Price: $3.7M
The Scoop: NoPa’s become all the rage in the past couple years, so finding tenants for three of these nice units shouldn’t be a problem. The property was built in 1880 and has all the period details people love. You can move in to one of the larger units in the front building for your primary residence, and rent out the rest. 1031-1037 Divisadero is on a double lot and has updated kitchens/baths, and hardwood floors. The building came on the market at the end of August for $3.9M, so the current list price reflects a reduction. [Read more…]

Mission Bay is Where It’s At In October

300Berry Ext5
Just in time for the Giants and their National League playoff series comes my listing at Arterra—one block from the ball park!

My clients are selling their 2BR/1BA condo on the tenth floor, overlooking Mission Bay. This is a corner unit, so it gets great natural light. One-car parking and storage are included, and Arterra boasts amenities like a fitness room, roof deck, 24/7 concierge and more.

We’re currently painting and staging, but contact me if you’d like more details!

And Go, Giants!!

Art at Alcatraz, Latest San Francisco Sales & Market Trends

The current edition of the Zephyr Market Tracker turns the spotlight on Alcatraz and its new art installation. You have until April 2015 to see this unique exhibit by Beijing-based artist Ai Weiwei.

We also check out some hot new Bernal listings, as well as recent citywide sales and market trends.

It’s all here in the Zephyr Market Tracker!

Noe House + Income Unit = Cool Investment

676sanjose
The Victorian two-unit building with an unwarranted studio at 676 San Jose in Noe Valley is the perfect choice for buyers looking for a spacious single-family home. Because not only do you get a 4BR/2BA house with fabulous Victorian detailing throughout,but you also get a legal 2BR/1BA apartment downstairs and an uwarranted studio that’s great for guests, home office or au pair. I’ll be hosting an open house at 676 San Jose this Sunday from 2:00-4:00. [Read more…]

What You Can Buy for Under $1M with Bay & Bridge Views

If your budget is under $1M and you want a condo with views, your best bets will be neighborhoods like South Beach and Mission Bay. Real estate is roughly around $1,000/sq foot there, so if you manage to snag a property with Bay views, you’ll really be getting the best bang for your buck.

Here’s a look at three condos with views in popular buildings that are near 280, Caltrain, BART, Muni, AT&T Park, and renowned restaurants:

260 King #1515
The Beacon (Mission Bay)

1BR/1BA, 903 sq ft
HOA dues: $762/mo + $140.40 parking/mo
List price: $799,000
260King_1515
260 King #1515 in The Beacon has dead-on Bay views from every window, and that’s no exaggeration. This is the type of home where you walk in and immediately realize that the online photos don’t do the views justice. The unit features hardwood floors, a kitchen with granite counters and stainless-steel appliances, and an in-unit washer/dryer. There’s also a separate alcove if you need an office area. Constructed in 2004, The Beacon spans two buildings (250 and 260 King) and has 595 units. It’s got excellent amenities like a 24-hour doorperson, concierge services, lap pool, spa, fitness center, club house and dog park. There are currently eight condos available in the Beacon for under $1M, but #1515 offers the best views and position in the building for the money. [Read more…]

My Cole Valley Condo Listing is Going Strong

286Parnassus LR2
My lovely 1BR/1BA condo at 286 Parnassus in Cole Valley has been quite popular, and we are heading into our second open house weekend before offers are due next week.

In case you haven’t heard, 286 Parnassus has a great open floor plan, gas fireplace, remodeled kitchen and bath and amenities such as an exclusive-use washer/dryer, shared garden and storage. The phenomenal location is steps away from public transportation, restaurants, shops and Golden Gate Park.

List price is $579,000, and we’ll be open on Sunday from 2:00-4:00. For more photos & details, visit 286parnassus.com