Category Archives: Bernal/Excelsior

Sunset, Pacific Heights Hot Spots for Cash Sales in 2017

Almost a quarter of this year’s single-family homes and condos were purchased by cash buyers, with neighborhoods like the Sunset, Parkside and Pacific Heights seeing the most such sales.

The Sunset and Parkside have been going full speed this year as house buyers priced out of the more interior neighborhoods head west in search of their next home.

Noe and Eureka Valley single-family homes were also big cash magnets, where sales ranged from $2,000,000-$5,000,000. However, such buyers also scooped up houses for $1,000,000 or less in the city’s southeastern neighborhoods of Bayview, Excelsior, Visitacion Valley, and Silver Terrace. Continue Reading

The Most Overbid House ‘Hoods in San Francisco Right Now

Buyers have had no qualms about dramatically overbidding for single-family homes in West Portal, Westwood Park/Highlands, the Central Sunset, Ingleside Heights and Miraloma Park this year.

Those neighborhoods are seeing an average overbid of 20 percent. West Portal actually had five homes sell for between 30 and 50 percent over list price this year.

The selling pattern within individual neighborhoods is a useful data point for sellers when it comes to setting a list price—and for buyers as they decide how much to offer for a property. The traditional pattern in San Francisco has been to list low and sell for more. In general, single-family homes in popular neighborhoods and at price points under $2M tend to get the highest overbids.

I did a quick analysis on the single-family home market and flagged the neighborhoods that are experiencing the highest levels of overbidding. Here are the hot spots now, according to the average overbid percentage year to date:

West Portal 22%
Westwood Park/Highlands 21% Continue Reading

Spring’s Overbidding Trend: Pay $500,000+ To Get That House

Spring’s Overbidding Trend: Pay $500,000+ To Get That House

The list low, sell high pattern in San Francisco real estate has been going on for years. But a trend surfacing in April points to the willingness of some buyers in the $2,000,000-$3,000,000 range to pay anywhere from $500,000-$800,000 over asking for a single-family house to “win” their personal bidding wars.

That’s what five sets of buyers did last month, in neighborhoods as varied as the Central Richmond, Forest Hill, Forest Hill Extension, Ingleside Terrace, Eureka Valley/Mission and Bernal Heights. Let’s take a look: Continue Reading

Single-Family Home Market Kicks Off 2017 With a Bang

There were no winter doldrums for the San Francisco house market this year. Low inventory and strong buyer demand fueled the first quarter—activity that promises to continue in 2017.

Possibly motivated by the threat of rising interest rates, buyers frequently waived contingencies in competitive situations, foregoing inspection, appraisal and financing safety nets to increase their chances of landing a single-family home.

The average price for the 381 homes sold was $1,761,226, up five percent over the first quarter of 2016. Continue Reading

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—two Cairn Terriers, a mother-daughter team—and frequently meet clients looking for a home in a neighborhood that will provide what we all need for us and our pets. That means proximity to open space, dog-friendly cafes and shops, and a community of dog owners who support each other and their ‘hood. Continue Reading

What You Should Know About the SF Fixer Market

What You Should Know About the SF Fixer Market

Driven by high buyer demand for single-family homes, the fixer market is going gangbusters in San Francisco.

There are generally two categories of what you’d call “fixers” in San Francisco real estate. The first is the contractor special—not habitable, needs work on the foundation, roof and everything in between. Then there’s the habitable house with a clunky floor plan and expansion potential that could be transformed into someone’s dream house. Continue Reading

SoMa Condos, High-End Houses Top Year-End Inventory

We’re approaching Thanksgiving, and that means we are officially in “year-end” territory. Buyers looking to get a deal are likely to find one in South of Market, or in the single-family home luxury market if they can spend $2,000,000+.

But there really are a variety of options out there right now. Here’s where to focus your energy if you’re aiming to purchase a condo or house before the end of 2016, along with price ranges and my picks:

Single-Family Homes
Central Richmond
What’s Available Two- to four-bedroom houses from $1,300,000-$2,500,000
My Pick 791 30th Avenue
791_30thave
791 30th Avenue was built in 1941 and is nicely updated. There are two bedrooms on the main level, and two more downstairs, with a total of 2,085 square feet. Landscaped yard and garage parking. Only one block from Golden Gate Park. List price: $1,495,000. Continue Reading

Bernal Microhood Winners and Losers of 2016

Bernal Microhood Winners and Losers of 2016

Three of Bernal Heights’ microhoods are seeing significant jumps in their median prices in 2016, with one former high flyer getting knocked off its pedestal.

Posting median price boosts of 15%, the East and Southeast Slopes lead the pack in 2016, along with South of Cortland. Precita Park took a 15% dive, with far fewer high-priced homes selling this year. That’s a big switch from 2015, when Precita Park was at the top of the hill.

As my regular readers know, I created the Bernal Heights microhoods two years ago to help prospective buyers and sellers get a more refined sense for the values behind the neighborhood’s distinct geographical areas. So here’s how our microhoods are stacking up in 2016:

Northwest Slope
Median Price 2016: $1,427,500 / 2015: $1,400,000 (+2%)
Most Expensive: 18 Montezuma (4BR/2.5BA, 2267 sq ft | $2,400,000)
Least Expensive: 57 Lundys (2BR/1BA, 700 sq ft | $855,000)
northwestslope
The Northwest Slope made a strong showing this year, bumping up its median price ever so slightly. The most expensive home sold at 18 Montezuma was a flip, and a good example of why contractors are snapping up homes in the neighborhood. Purchased as a fixer in 2014 for $1,200,000, 18 Montezuma was transformed into a showcase home listed for $2,198,000. Buyers had no qualms about paying nine percent over the list price to have that house. But not every home sold for a gangbuster price; the contemporary view home at 25 Elsie came on the market in September 2015 and finally closed escrow in April 2016 for $1,870,000. Continue Reading

Just Sold: 58 Ellsworth in Bernal Heights

Just Sold: 58 Ellsworth in Bernal Heights

Congrats to my clients who close today on this lovely Victorian single-family home in a prime Bernal Heights location!

58 Ellsworth is ground zero for indoor-outdoor living at the top of the hill. The kitchen leads right out to this amazing yard, complete with fire pit and hot tub:
58ellsworth_yard

The living room has a box-beam ceiling and fireplace, and is adjacent to the large dining area and well-appointed kitchen. Best of all, 58 Ellsworth is located only two and a half blocks north of Cortland—and just below Bernal Hill. You get access to the trails and bucolic setting, yet are a quick walk away to the restaurants, shops and conveniences on Cortland.

New Listing: Fully Loaded Noe Condo

New Listing: Fully Loaded Noe Condo

I’m proud to present my new listing at 148 Duncan Street in Noe Valley. It checks all the boxes: two large bedrooms, formal dining room, remodeled kitchen and bath, private outdoor space and charming period details.

One-car parking, abundant storage and shared garden are in the mix, too!

The condo is perfect for South Bay or downtown commuters, as 148 Duncan is situated near freeways, BART, Muni and tech shuttle stops. We’re also a quick shot away from the restaurants, shops, bars and cafes in Upper Noe, the Mission and Bernal Heights.

List price is $1,195,000, and you can see more photos/details at our property Web site.

First opens are this Saturday 2/6 from 2:00-4:00, and Sunday 2/7 from 12:00-2:00, before the Super Bowl game and festivities kick off. Looking forward to seeing you then!

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
$995,000

130 Vienna / Excelsior
4BR/3BA + two bonus rooms up, 1 pkg
$799,000

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

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

Get in touch:

Eileen Bermingham

Zephyr Real Estate

415.823.4656

ebermingham@zephyrsf.com

BRE# 01352627

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