Category Archives: Ingleside/Lakeside

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

Think Outside the Neighborhood Box for Under $1M

The single-family home market in San Francisco is a very competitive one, and the average price for a house is above $1M at this point in time. So it takes some serious strategizing, compromising and an open mind when it comes to finding a house for under a million dollars.

Most buyers in this price range realize quickly that if they want a house, they’ll need to go beyond buyer-saturated neighborhoods like Bernal Heights, Glen Park or West Portal. Because for every ten people who’d like to live in Bernal, there are maybe five that’ll consider less obvious and familiar areas.Continue Reading

Just Listed: 2BR Ingleside Charmer

Just Listed: 2BR Ingleside Charmer

My new 2BR/1BA single-family home listing at 231 Jules Avenue in up-and-coming Ingleside just hit the market. Featuring lovely 1920s detailing throughout, the home has a living room with wood-burning fireplace. The remodeled kitchen is well-appointed, with granite countertops, window atrium, and stainless-steel appliances. Two bedrooms are at the rear of the main level and overlook the garden, which has mature fruit trees and lawn with irrigation system.Continue Reading

Up-and-Coming Ingleside A Good Bet for Buyers

Up-and-Coming Ingleside A Good Bet for Buyers

Nothing attracts home buyers more than a good, solid retail area that they can walk to from their new home. Consider all the wildly popular neighborhoods that have retail areas featuring hot restaurants, cafes, shops and services: Noe Valley, Hayes Valley, The Mission, Cole Valley, Cow Hollow, the Marina and the Inner Sunset, to name just a few. Buyers will pay dearly to be in walking distance of these strips, because if you can’t walk to anything, why live in San Francisco?Continue Reading

Where the Cash Buyer Competition Is

If you’re aiming to close on a property in 2013, it’s a good idea to size up the competition and hone your strategy at this point in the year. After all, we only have a couple months left before Thanksgiving (I know!), and inventory slows down right after the turkey leaves the table.

In very thick multiple-offer competition, the biggest wild card will be whether a cash buyer steps into the mix who’s willing to pay top dollar to buy a home. As most real estate fans know, cash sales don’t equal discounts, and cash buyers know that they have to offer a competitive price to win.Continue Reading

The Highs & Lows of SF Real Estate

The San Francisco market certainly has its ups and downs like any other. And what’s driving sales are buyers and sellers who are able to come to agreement on price. For every property that sells for under its asking price, there seems to be one that swings in the opposite direction and raises eyebrows.

So I like to periodically present snapshots of sales that exemplify our current mood swing market. I noticed a couple highs and lows this week in Noe Valley and Ingleside Terrace that are worth a look:Continue Reading

How’s The Market In: Lakeside

One of the lesser-known neighborhoods in the west part of San Francisco is Lakeside. Bordered by Sloat on the north, Junipero Serra on the east, 19th Avenue on the west/south, Lakeside is a slice of a ‘hood that’s adjacent to San Francisco State University, Stonestown Galleria, Stern Grove, and Ingleside/Balboa Terraces. Here’s a map for your reference:

The homes in Lakeside were constructed from 1936-1950, and the developers targeted buyers who were professional men (and their families).  The plan for Lakeside was explained in the October 1936 issue of California Homes: “For the Man of Means: If you are a San Francisco executive you’ll like Lakeside. Close to your executive offices in the matter of distance and in the matter of time due to the Twin Peaks Tunnel; close to your favorite golf course and bridge club; close to your heart in the architecture of your needs…” They made sure to put utilities underground, and also built out Lakeside Village on Ocean Avenue so there were some stores and services. These days, Lakeside dwellers and buyers like the area because it’s convenient to the aforementioned places, area schools, West Portal and Hwy 280.

Lakeside is a small geographical area, so sales aren’t exactly prolific year round. A total of 17 single-family homes (no condos here) sold in 2010 for an average of $913,014. All but three were three- to four-bedroom homes with large square footage. All but four sold for less than $1M.

There are presently three listings available for sale in Lakeside, ranging from $695,000-$749,000. Three other homes are in contract. The market has held up well in this neighborhood, and there’s probably not sufficient inventory for all the buyers who might like to reside here.

Given that Lakeside has such a limited inventory and sales history, sellers (and buyers) can use sales in the neighboring areas of Merced Manor; Balboa Terrace; Stonestown; Merced Heights; and even Lakeshore and Pine Lake Park. Those neighborhoods tend to share a similar feel, but it’s important to note that comps should involve homes of similar architecture, number of bedrooms and adjust for remodeling and overall condition.

What You Can Buy for $1M

There’s a wide variety of properties in San Francisco, and we take a look today at three very different homes at the $1M price point:

3569 Pierce
List Price: $995,000
2BR/1BA, 1575 sq ft
1-car pkg
HOA dues: $250/mo
This first-floor condo in a two-unit building has a gourmet kitchen, wood-burning fireplace, formal dining room and hardwood floors. There’s also a shared, landscaped garden. Location is prime Marina, close to Marina Green and the Chestnut Street retail area.

65 Borica Street
Ingleside Terrace
List Price: $998,000
4BR/2BA, 1719 sq ft
2-car parking
Fully detached and built in 1923, this Spanish-Mediterranean single-family home has a Mayan fireplace, formal dining room, spacious kitchen with a garden view, and rear decks. The price was reduced in mid May from $1,129,000 to the current $998,000 list price.

472-474 Pennsylvania
Potrero Hill
List Price: $995,000
Two units
2-car pkg
Consider this two-unit building that will be delivered vacant. There are two 2BR/1BAs, a terraced yard, and two-car side-by-side parking. Good Potrero location, in walking distance of both Potrero shops and restaurants, as well as the Dogpatch cafes and restaurants (and about five blocks away from the Muni line that runs up & down Third Street). You’re a little close to 280 here, but how much that will bother you is a personal choice. This is a good option for someone with a decent down payment who wants to owner occupy one unit and rent out the other. Or, go in with a friend and keep your costs manageable.

Ingleside Terrace Home Sells for a More Earthbound Price

The 4BR/3BA home at 112 Lunado Way in Ingleside Terrace first came on the market in February at $1,650,000—potentially ready to ride the coattails of the April 2009 sale of neighbor 25 Mercedes. The latter had sold for $1,765,000 after 112 days on the market. But it was also the most expensive home sold last year within the confines of Ingleside Terrace.

However, no buyers materialized for Lunado at its initial list price, and after a series of reductions, the property sold last week for a more realistic $1,289,000. Indeed, the median price for the area over the past year was $1,083,800.

So buyers, it goes to show you that, given enough time and sufficient reality doses, some sellers will sign on the dotted line for significantly less than asking. But it just may take time (about four months, in the case of Lunado). And make no mistake: There are seemingly plenty of buyers looking for $1M+ homes in San Francisco. But many of them are sitting on the sidelines, waiting to make the right move at the right time.

Entry-Level Price Range Explodes in San Francisco

There was a time when it was pretty challenging to find properties with decent space in San Francisco for up to $650,000. Now that the market has softened a bit—and some of the buyers who sat on the sidelines last year (saving money in the interim) have jumped back in the game—there’s a perfect first-time home buyer storm sweeping over the city.

Bad metaphors aside, I’m really encouraged by activity in this market segment. A look at the properties listed for up to $650,000 that have gone into contract recently or are pending is indicative of its strength. To date, 110 such condos have gone into contract since January, at an average price of $467,943. Of these, 61 one-bedroom units were listed at an average of $463,841, and most interestingly, 29 two-bedroom condos were listed at an average of $525,921. There was a time when it was virtually impossible to find a two-bedroom in this range, but that seems to be fortunately changing. And 78 condos are pending that were listed for up to $650,000.

I should note that not every neighborhood will have two bedrooms in this range. The most likely possibilities are areas such as the Mission, South of Market, Diamond Heights. Things open up for one bedrooms, with neighborhoods like the Van Ness corridor, Mission Bay, South Beach, South of Market and the Central Waterfront (Dogpatch) popping up.

If you’re dreaming of a single-family home, the entry-level range is a little sparse. For up to $650,000, you’re generally looking at two-bedroom homes in areas such as the Outer Sunset/Parkside; Ingleside Heights; Sunnyside; Bernal Heights; Excelsior; Outer Mission; Visitacion Valley; Silver and Mission Terraces. A total of 100 single-family homes are currently in contract or pending with list prices of up to $650,000. And yes, the homes are generally located in the aforementioned neighborhoods.

Heading into February, we’re looking at 244 condos currently on the market (a mix of studios, one- and two-bedrooms). Now might be a good time to get off the sidelines, take advantage of the federal tax credit before it expires in the spring, and negotiate your way to your first home.

Checking Out Q1 House Averages

With volumes and prices down, the first quarter of the year opened with a whimper. Buyers were reluctant to make purchase decisions, and sellers held back from putting their homes on the market.

Most neighborhood averages were below $1M. That just supports my theory that the most popular price range continues to be $400,000-$900,000. Here’s a look at how single-family homes fared in a variety of neighborhoods:

Inner Richmond
# Sold: 2
Avge Price: $860,000

Inner Sunset
# Sold: 4
Avge Price: $793,200

# Sold: 11
Avge Price: $719,000

Ingleside/I. Heights
# Sold: 14
Avge Price: $445,279

Miraloma Park
# Sold: 8
Avge Price: $831,375

# Sold: 9
Avge Price: $684,333

Noe Valley
# Sold: 19
Avge Price: $1,291,605

Glen Park
# Sold: 8
Avge Price: $941,625

Corona Heights
# Sold: 2
Avge Price: $1,145,000

Pacific Heights
# Sold: 3
Avge Price: $3,524,500

The Mission
# Sold: 2
Avge Price: $592,625

Bernal Heights
# Sold: 11
Avge Price: $710,455

Potrero Hill
# Sold: 6
Avge Price: $952,333

The Excelsior
# Sold: 18
Avge Price: $529,411

Stop in tomorrow for a look at condo averages!

Neighborhood Spotlight: Ingleside

An often overlooked neighborhood is Ingleside. Located south of Sunnyside and City College, east of the Stonestown area, and just west of Mission Terrace, Ingleside enjoys close proximity to Hwy 280. It’s also fairly close to the Balboa Park BART & Muni station, which provides service to downtown San Francisco.

Ocean Avenue is the retail strip that runs across the north end of Ingleside. This is where you’ll find sandwich, coffee, and produce shops, clothing stores, library, veterinarian, and even a massive 24-Hour Fitness.

And the neighborhood is priced within the first-time home buyer range. Approximately 26 homes have sold in Ingleside since October 2008, at an average price of $504,277.

Conforming Loans Lead the Way

Conforming loans are about the only option these days for those prospective buyers who have less than a 20% down payment. Though this loan amount is poised to increase to $729,750 soon, it is currently set at $625,500. Along with that down payment, you’ll need acceptable credit scores and incomes.

So what’s available for up to $695,000, assuming you’re working with a 10% down payment? Quite a bit of inventory, it seems. There are 210 single-family houses on the market, ranging in price from $179,000 for a 625-square foot, one-bedroom short sale house that’s tenant occupied in Bayview, to a three-bedroom home in Bernal Heights on College Terrace. In addition to Bernal and Bayview, neighborhood selections include Merced Heights, Ingleside, Outer Sunset, and Sunnyside.

There are 493 condos available, but it’s important to have your lender or mortgage broker review a particular building prior to even considering making an offer. Lenders are hesitant to lend on condo buildings, so there are further limitations to what you may be able to purchase.

I’d recommend considering properties priced as high as $725,000-$750,000, as your chances of negotiating for what you can afford increase the longer the property sits on the market–presuming you have a motivated seller on hand.

Get in touch:

Eileen Bermingham

Zephyr Real Estate


BRE# 01352627

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