Category Archives: Glen Park/Sunnyside

What You Could’ve Bought: Houses For Under The List Price

The selling pattern in San Francisco continues to be list low, sell for more. However, it doesn’t always work out that way for some sellers. Properties that sell for under asking typically have spent a good chunk of time on the market, and are often in the multi-million dollar price range. But that’s not always the case. Here are a few examples of homes that didn’t have a fast path to a signed contract:

148 16th Avenue
Lake Street
List Price: $4,250,000
Sale Price: $3,775,000
Days on Market (DOM): 37

Buyers are seeing the most discounts in the luxury market, and 148 16th Avenue was no exception. The home was extensively renovated in 2006, and had a nice open floor plan on the main level. Big master suite, and large yard. There was also a detached rear cottage. The property came on the market at $4,250,000 but the sellers cut the price to $3,825,000 and a buyer came in a week later. 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

Just Sold: 121 Chilton in Glen Park

Just Sold: 121 Chilton in Glen Park

My clients just purchased a Glen Park charmer on a cul-de-sac at 121 Chilton.

The 1940s home has two bedrooms, one bath and a bonus room down that’s great for a large third bedroom with a garden view. The very gracious living/dining area with wood-burning fireplace gets great natural light through an expansive front window. Big garage and yard, too. Continue Reading

Underpricing Strategy Still Works for Sellers

Underpricing Strategy Still Works for Sellers

If you’re a homeowner who’s about to list your San Francisco property this Spring, have no doubt about where to set your list price: Well below the sale price you’re seeking.

If there’s any doubt that underpricing is the best way to jack up your value, take a gander at how things played out at 1812 Church Street. The 2BR/1BA single-family home on the border of Glen Park and Noe Valley was first listed for $1,495,000 in mid February. When no buyers materialized after two weeks, the price dropped to $995,000. A week later, the house went into contract with no contingencies, and closed on March 18th for $1,445,000. Continue Reading

What You Can Buy: My Picks for This Week

Inventory is starting to hit the market, and I’ve been scouting around for properties for my buyer clients. In between, I get to see properties that aren’t quite a fit for my buyers, but would work for my blog readers who may be house hunting. Here are some cool properties in varied price ranges. If you’re interested in taking a look, give me a shout at 415.823.4656 and we can schedule a showing just like that.

500 Masonic #2 / NoPa
2BR/2.5BA, 1220 sq ft, 1 pkg
$1,299,000
500masonic_2
The two-level condo at 500 Masonic #2 has what many buyers are looking for—two bedrooms upstairs, an open kitchen/dining/living space, in-unit laundry, and secure garage parking for up to two cars (tandem).
Pros: Large, deeded rooftop space easily accessible from the elevator. Smaller, seven-unit building. 94 Walk Score!
Cons: One bedroom and the main living space front Masonic, which is a heavily trafficked street. (Note that a major streetscape improvement project is planned.) Continue Reading

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

Coming Soon and Off-Market Opportunities: October 21, 2015

Though a good portion of the Fall inventory is on the market, there are some properties quietly being marketed outside the MLS. Here are this week’s offerings:

Six Newly Rebuilt Flats on 19th Street @San Carlos / Mission
2BR +den/2BA residences, each have exclusive storage/bonus rooms
Fractional financing for TICs
$$1,100,00 – $1,195,000

3816 22nd Street / Noe Valley
4BR/3BA house, renovated firehouse, four very contemporary levels
$6,898,000

315 Arlington / Glen Park
2BR/1BA condo, garden, 0 parking
$899,000

268 Day #4/ Noe Valley
2BR/1BA top-floor condo, 1 pkg
$849,000

1257 Guerrero / Noe Valley/Mission
Bonafide Victorian bed and breakfast with 9BRs/9.5BAs, 4% cap rate, striking painted lady exterior
$4,500,000
Continue Reading

Off-Market and Coming Soon Opportunities: Week of June 22nd

What summer slowdown? Plenty of sellers are ready to move, and the spike in inventory reflects that. Getting in to a property before it hits the market is a great way to give yourself time to get your loan preapproval in order, review disclosures and write your offer without twenty other buyers breathing down your neck.

I’ll be updating this list as new opportunities come up this week. Here are my off-market and coming soon picks so far for the week of June 22nd: Continue Reading

Sales Volume Down, Prices Up in Q1 2015

The big news for the first quarter of 2015 is that sales volume dropped like a rock compared to Q4 2014.

But prices edged up even higher.

Bottom line: There were 41% fewer single-family home and 28% fewer condo sales in the first quarter of this year. Of course, the first quarter of any year is typically slower due to buyers and sellers recovering from the holidays. But given the frothy nature of the market right now, I would have expected a touch more volume.

Here’s a snapshot of how things went down in the two most popular segments of the real estate market: Continue Reading

Location is #1 Priority for 1BR Condos

The one-bedroom condo is a popular choice in San Francisco. Of course, one bedrooms have their limitations and aren’t for everyone. Because of the narrower buyer pool, you can increase your chances for good resale value by purchasing a unit in a desirable neighborhood central to services, public transportation, and restaurants/cafes.

The average price for a 1BR condo has jumped in recent years. It’s $791,306 as of the time period from December 2015-March 16, 2015. 14% of the 182 1BRs sold had price tags in excess of $1M. Continue Reading

Condo Cash Buyers Back Off from Big Overbids

Cash buyers continue to make a strong showing in the San Francisco market, accounting for 20% of transactions that closed over the past three months.

But when it comes to houses vs condos, these condo buyers are pulling back from big overbids. The average overbid was only 2.32% vs 10.26% for house buyers. And only 9% of cash condo sales saw overbids of 20% or more—possibly indicating a less frothy Spring condo market. Continue Reading

Short-Term Rental Law Goes Into Effect in SF

San Francisco’s law regulating short-term rentals has just gone into effect. Rentals for terms of less than 30 days are now allowed, with a 90-night per year max. The latest Zephyr Market Tracker gives you the lowdown on all the details behind the new law.

We also check round up San Francisco’s festival offerings and take a look at Glen Park. All this and the most recent sales and stats. It’s all here in the Zephyr Market Tracker!

Here Are My SF Real Estate Predictions for 2015

Here Are My SF Real Estate Predictions for 2015

 

It’s that time of year when I haul out my crystal ball and let you all know what I think will be happening in the San Francisco real estate market this year. One thing that’s definitely certain is that many of you will be contacting me to help you buy or sell a home. I look forward to talking with you! In the meantime, here’s how things will shake out in 2015. Continue Reading

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. Continue Reading

Get in touch:

Eileen Bermingham

Zephyr Real Estate

415.823.4656

ebermingham@zephyrsf.com

BRE# 01352627

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