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!

Just Sold: 7 Bennington in Bernal Heights

Ext2
My seller clients just closed on the sale of their lovely home at 7 Bennington. Situated on a prime Bernal block just one block from Cortland Avenue, 7 Bennington was listed for $899,000 and featured an open living/dining floor plan, all three bedrooms on the main level and an updated kitchen and bath.

We received multiple offers and the sale price was $1,150,000. The lucky buyers are now the owners of a fabulous single-family home in an excellent neighborhood location. Congrats all around, and special thanks to buyer agent Joy Liu at Vanguard Properties, as well as to the buyers’ lender, Judy Stern at Opes Advisors.

Big Excelsior House with In-Law Seeks Buyers

648lisbon
For San Francisco home buyers looking for a lot of bedrooms and a large in-law apartment (that could potentially offset the mortgage payments) for under $1M, 648 Lisbon in the Excelsior may be a great fit. [Read more...]

New Listing: 7 Bennington in Bernal Heights

19Ext1My new listing on one of the most desirable blocks in Bernal opens its doors this weekend. 7 Bennington is a sweet single-family home that features an open living/dining area, three good-sized bedrooms all on the main level and an updated kitchen and bath. This is a great house for entertaining, as the deck and stairs off the kitchen lead to a lovely yard that’s perfect for enjoying Bernal’s sunny microclimate while you fire up the grill and hang with your friends.

Oh, and did I mention a two-car garage and laundry area with a top-of-the-line washer/dryer?

All this only one block from a prime stretch along Cortland Avenue, and also near public transportation, tech shuttles, and freeways.

List price is $899,000.

We’ll be open Saturday & Sunday from 2:00-4:00, so stop in and see me!

For more details & photos, please visit our 7Bennington Web site.

Just Sold: 3BR Bernal Condo

267a_anderson
My clients just purchased a spacious three-bedroom Victorian condo on a prime Bernal Heights street, just half a block from the popular Cortland Avenue neighborhood hub.

Featuring lovely period detailing, a living room with gas fireplace and an open kitchen/dining area, 267A Anderson also has three good-sized bedrooms. There’s a private deck, independent parking and storage. List price was $899,000.

Inventory for Every Price Point in Bernal

The Bernal Heights market is experiencing a jolt of inventory, and not just in $1M+ dollar single-family houses. There’s something for everyone, and I wanted to point out some of my favorites. Whether you’re looking to spend up to $500,000 or $2M, here are some good choices in prime neighborhood locations:

515 Eugenia
Tenancy-in-common
1BR/1BA, no pkg
$395,000
515eugenia
515 Eugenia is one TIC interest in a newly renovated, three-unit property at the corner of Bonview and Eugenia. This is a great location because it’s only a block to Cortland, as well as a few short blocks to Mission Street and its public transportation. 515 Eugenia is small, but well appointed. The kitchen is a good size and has reasonable counter and cabinet space, and there’s shared laundry and exclusive storage. The unit is located over the two-car garage, so this may not work if you’re sensitive to the noise of garage doors opening when your fellow building owners are coming and going. But overall, 515 Eugenia is a good package for this price point. (Also available are 199 Bonview #A, the other 1BR unit listed for $495,000, and the two-story main house unit at 199 Bonview for $995,000.) [Read more...]

The Most Competitive House Markets in San Francisco Right Now

If you’re aiming to buy or sell a single-family home in San Francisco, it’s important to take note of the selling patterns in the city’s various neighborhoods. You’ve probably read my blog post from earlier this week on the hottest condo markets, but when it comes to overbidding on houses, the landscape looks slightly different.

The neighborhoods where buyers are overbidding most intensely are varied, and there are many. [Read more...]

House Flippers Hit 2014 Market

Many contractors and small-scale developers who snapped up properties with their cash in the last two years in San Francisco have completed high-end renovations and are now listing those homes for sale. They were able to buy at a time when the market wasn’t quite as hot as it is right now. And we all know that the successful flip largely depends on timing.

Here are three flips that recently came on the market, with their before and after renderings:
212 & 212A Chattanooga
Noe Valley

3BR/3.5BA (front) / 2BR/2BA (rear)
List Prices: $2,495,000 / $1,595,000
212chattanooga_before
212chattanooga
212 Chattanooga is the front house on a lot that holds two renovated houses. The front (above) was purchased in September 2012 for $750,000. It’s now a three-level home with a tiered main level that has direct access to a west-facing yard.

The rear house, 212A Chattanooga, was sold in the same timeframe for $450,000 as a tenant-occupied cottage. This property is accessed via a walkway that runs alongside 212 Chattanooga. There’s no parking for the rear house, but the idea of a “Vespa pad” is cute:
212achattanooga_before
212achattanooga
I liked both houses, though the downside to the rear property is that it’s oriented toward a large, unattractive rental building. Getting to and from the property isn’t glamorous via the narrow walkway. But the location is excellent, and I think it’d be ideal to purchase the entire property as a family compound. [Read more...]

Bernal Renovations, South Beach Condos Getting Ready to Sell

The latest Zephyr Market Tracker is showing property prices up around 8% across the board over the past six months. (In most neighborhoods, though, the increase from 2013 to 2014 is much higher.)

We also take a look at Lumina, the upcoming 655-unit condo development at 201 Folsom that’s best known as phase 2 of the Infinity. Plus, a close-up on Bernal Heights and some cool renovations happening there. And let’s not forget the annual Decorator Showcase that will be held in a 9,000-square foot mansion on Jackson Street.

It’s all here in the Zephyr Market Tracker!

Another Jaw Dropper in Bernal

315coleridge
The San Francisco market has been somewhat off the hook in 2014, with eye-popping sales happening in full force in seemingly every neighborhood in the city. But even I’m caught off guard by some buyers’ willingness to fork over disarming amounts of money on certain properties.

Case in point: The 3BR/2BA, 1358-square foot home on 315 Coleridge. Sold in January 2012 for $850,000, the house had two bedrooms and one bath on the main level, a remodeled kitchen and a bedroom/bath on the garage level. Outdoor space consisted of a small patio area just outside the main level, with stairs going up to a deck with views.

Fast forward to March 2014, when 315 Coleridge was listed for $1,150,000. The selling price? $1,501,000. I would have liked to been at the table when that winning offer was revealed.

Microhoods Key to Bernal’s Home Values

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Bernal Heights has many distinct areas within its neighborhood. From the hip enclave of Precita Park to the winding streets on the East Slope, the price of real estate literally varies depending upon which part of Bernal you’re in. So it’s important to lean heavily on sales in your particular part of the neighborhood when you’re accurately trying to determine property values in Bernal.

To help buyers and sellers with that task, I’ve deconstructed Bernal Heights into seven unofficial microhoods, complete with their respective price averages and low/high prices, as well as recent sales volume.

A few ground rules: My geographical boundaries are rough approximations, and there will be some overlap with streets that fall on microhood borders. Also, sales information is for single-family homes sold from September 2013-March 10, 2014.

North West Slope
Average Price: $1,195,589
Low: $699,000 High: $1,688,888
Number Sold: 10
northwestslope
The North West Slope has quaint tree-lined streets, hidden staircases and lots of charm. It’s near Mission Street’s bus lines and not far from the 24th & Mission BART station/30th & Church J Muni, as well as The Front Porch, Emmy’s Spaghetti Shack, Cole Hardware and Safeway. Five homes on the North West Slope sold above $1.3M over the past seven months, including a 2BR/2BA at the top of Bocana listed for $1,095,000 that sold for $1,610,000. [Read more...]

Excelsior in the Spotlight, SF Gets Dynamic

The latest Zephyr MarketTracker shines the spotlight on the Excelsior neighborhood. Recently profiled in The Chronicle for its residents’ desire to build up the retail area along Mission, the Excelsior continues to attract first-time home buyers.

We also take a look at which American cities are considered to be the most dynamic based on a variety of factors. Guess which city tops the list?!

Plus recent sales and stats. It’s all here in the Zephyr MarketTracker!

What You Could’ve Bought: For Under List Price

It’s unusual in the current San Francisco market for buyers to be able to purchase a home for less than the list price. Most of the time, a property has to be on the market for at least a couple months, and even then, there’s no guarantee the seller will be willing to take less. But here are three homes that changed hands for substantially less than asking:

1966-68 Greenwich
Cow Hollow

List Price: $3,900,000
Sale Price: $2,650,000
Days on Market (DOM): 99
1966_68greenwich
1966-68 Greenwich was billed as a family compound, and consisted of two condos. There was a 3BR/2BA home with two-car parking at the front of the lot, and a rear 2BR/1.5BA cottage with one-car parking (which the seller was renting on a short-term basis for an income of $100,000/yr). Both buildings were extensively remodeled, and the cottage had its own private entrance. The seller also included plans for enlarging the rear unit by 2500 square feet. Great location near Union Street shops and restaurants, as well as 101. [Read more...]

Lots of Love for Bernal + Latest SF Sales

Is Bernal’s north slope the best neighborhood in the United States? According to Redfin, that’s apparently the case, and you can find out why in this edition of the Zephyr MarketTracker. We also take a look at some of Bernal’s current listings.

And San Francisco is the best place to…have a baby? Yes, as per the folks at What To Expect. No explanation from that group as to why most families seem to move out of San Francisco for the ‘burbs, but I’ll go with it.

Find out what citywide properties sold over the past 21 days, and get the most current sales stats.

It’s all here in the Zephyr MarketTracker!

SF Overbidders Don’t Disappoint in October

Though overbidding activity in San Francisco this month has been somewhat run-of-the-mill, a few sales are noteworthy for the trends they represent. These buyers are officially inducted into the SF Overbidders Club for paying 25%+ above the list price:

88 Hoff #109
The Mission

1BR/1.5BA
List Price: $775,000
Sale Price: $975,000
Overbid Amount: 26%
Closed Escrow: 10/4/13

The sale of 88 Hoff #109 shows you just how much buyers are willing to pay for a loft space in what is now considered to be a prime Mission location. Situated on a street bordered by 16th & 17th and Valencia and Mission, this loft has that ginormous private patio (above), as well as a den area. Lofts continue to have their limits with respect to privacy and enclosed space. But with the average price for a 1BR loft in the Mission being $753,333 since August, it’s clear that something really resonated with this loft buyer.

514 Precita
Bernal Heights

2BR/1BA
List Price: $995,000
Sale Price: $1,255,000
Overbid Amount: 36%
Closed Escrow: 10/7/13

Bernal Heights’ single-family home market has been off the hook for a while now. So it’s no surprise that this 2BR home with bonus room, nicely done yard, and two-car garage right on Precita Park attracted multiple offers. The cash buyer who purchased this home actually didn’t pay top dollar; that honor goes to the buyers of three other 2BR Bernal houses which sold in 2013 for $1,325,000-$1,525,000.

239 14th Avenue
Central Richmond

3BR/2BA
List Price: $999,000
Sale Price: $1,600,000
Overbid Amount: 60%
Closed Escrow: 10/4/13

What does a big contractor special in the Central Richmond cost these days? If 239 14th Avenue’s sale is any indication, you’re looking at around $1.6M. (And it doesn’t hurt to have cash, which was the case here.) This 2580-square foot home on 14th at California has a huge basement, period detail throughout, and large yard. These all translate into renovation potential, and 14th Avenue’s buyers have already gotten their permits underway for the job.