Category Archives: Mission

What’s On The Condo Market: February 2016

What’s On The Condo Market: February 2016

There are more than 300 condos on the market right now in San Francisco, so there’s a good chance one will be a fit for you if you’re looking to buy one. Here’s a look at what’s out there in the one-, two- and three-bedroom market segments:

One-Bedroom Condos
Number Available: 85
Median List Price: $849,000
Neighborhoods With the Most 1BRs: South Beach; Lower Pacific Heights; SoMa/Yerba Buena; South Beach; Van Ness/Civic Center
Least Expensive 1BR: 750 Great Highway #2 ($489,000) in the Outer Richmond. Reasonable floor plan, in-unit laundry & dishwasher, and located right across the street from the beach.
Most Expensive 1BR: It’s a tie! 650 Delancey (Oriental Warehouse) #416 and #304 in South Beach, both listed for $1,695,000. #416 is a top floor 1BR that could be used as two bedrooms, shiny red kitchen and parking. #304 has a master bedroom plus office, neutral color scheme, and parking. Both are clocking in at $1,157-$1,213/square foot, which is right in line with market prices.
My Value Pick: 246 2nd Street #905 ($775,000), in Yerba Buena. This unit has a walk-out terrace with city views, in-unit laundry, storage and parking. Continue Reading

Mission’s Rowan is Chock Full of Amenities

Mission’s Rowan is Chock Full of Amenities

I visited The Rowan last weekend and was impressed with the numerous amenities offered in this nine-story building. It’s what I’d call a “good value” project for home buyers.

Situated on Potrero Avenue at 16th Street on the border of the Mission and Potrero Hill, Rowan is a ten-minute walk from the heart of the steadily developing east end of the Mission. It’s also a short distance from Potrero’s design center and Whole Foods. Rowan’s immediate area has a commercial-industrial-retail feel, with a tire store, McDonald’s, the UPS building and the Safeway shopping center in close proximity. And it should be noted that there’s a prominent homeless presence in the area at the moment.

But buyers have gone into contract on 15 units, of which eight have already closed. Rowan buyers have been exclusively San Francisco residents who work within a mile of the building, in SoMa, the financial district and Mission Bay. And they’re all owner occupiers. Continue Reading

Just Sold: 652 Shotwell Street

Just Sold: 652 Shotwell Street

We just closed on 652 Shotwell Street in the Mission. The classic Victorian condo in a historically significant two-unit building was a hit with prospective buyers, who appreciated the smart floor plan, second bathroom, in-unit laundry, walk-out garden and phenomenal period detail.

Two buyers who fell in love with the property submitted a preemptive offer, which led to seller acceptance and a very smooth transaction. Listed for $995,000, 652 Shotwell sold for $1,150,000.

Special thanks to buyer agent Saba Shoaeioskouei at Zephyr, Cathy Chang at Citi for a trouble-free loan process, and escrow officer Gerrie Brindley at Chicago Title!

652 Shotwell Open All Weekend

652 Shotwell Open All Weekend

My listing on tree-lined Shotwell Street has been very popular with buyers looking for a home in a hip Mission location. The most popular aspects of the property among agents and buyers who have come through this past week are the walk-out garden, second bathroom, floor plan with “good flow,” and the high ceilings and good natural light.

We’ll be open this weekend on Saturday and Sunday from 2-4, so stop in and check us out! Our Web site is here and list price is $995,000.

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

Coming Soon and Off-Market Opportunities: October 28, 2015

A good portion of the Fall inventory is on the market, but there are some properties quietly being marketed outside the MLS. Here are my picks for this week:

507 Capp / Mission
Grand 5BR/6BA renovated Edwardian on three levels, garden, 3 pkg
$4,400,000

2771 38th Avenue / Outer Parkside
3BR/2BA remodeled house, 1 parking
$895,000

555 4th Street #513 / SoMa
2BR/1BA, 1 pkg
$1,050,000 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

Coming Soon and Off-Market Opportunities: September 23, 2015

The flood of inventory continues to hit the market. Here’s a preview of what’s to come, or what may never go into the MLS before it’s sold:

2872 25th St / Mission
3BR/2BA 1920s home, in-law down, 1 pkg
$1,295,000

2040 Fell #12 / NoPa
2BR/1BA top-floor condo, 1 pkg
$985,000

1156 Treat / Mission
2BR/1BA top-floor condo, 1 pkg
$949,000 Continue Reading

What You Can Buy: Condos Under $1,000 Per Square Foot

It’s no secret that the list price per square foot for condos is topping $1,000/square foot these days—with actual sale prices rising above that. And while I’m not a huge fan of relying completely on price-per-square foot as a data point, I do reference it when it comes to home values.

The good news is that the condo market currently has 125 units listed in San Francisco for under $1,000/square foot. The average list price for condos in this category is $1,144,151, with 15 condos listed for the ever-popular $899,000 price. ($995,000 is right behind that price point.) Continue Reading

Coming Soon and Off-Market Opportunities: September 16, 2015

New listings are popping up everywhere, on and off the market. Here are my picks for upcoming and off-market listings this week:

745 DeHaro / Potrero Hill
2BR/2BA view home, 2,000 sq ft, three levels, 1 pkg
$899,000

242 San Jose / Mission
Architecturally significant 4BR/2.5BA + guest quarters, 27′ x 175′ lot, pkg
$2,995,000

2842 Pierce / Cow Hollow
2BR/1.5BA condo, 2 pkg
$2,550,000 Continue Reading

Coming Soon and Off-Market Opportunities: August 19, 2015

Here are my picks for upcoming and off-market listings this week:

12 Winfield / Bernal Heights
2BR/1BA top-floor condo, 1 pkg
$899,000

355 Buena Vista Ave East #506W / Buena Vista-Ashbury Heights
1BR/1BA, 855 sq ft, 1 pkg
$788,000

555 Filbert St / Telegraph Hill
3BR/2BA renovated, top-floor TIC, 1 pkg
$1,695,000 Continue Reading

SF Real Estate Sees Its Share of Summer Overbidding

The summer may have quieted down the market a bit in San Francisco, but that doesn’t mean prices are softening or that buyers have backed off from extreme overbidding (25%+ above the list price). In fact, we have three cases this month of irrational overbidding, too (50% or more over asking).

Of the 74 sold houses so far in August, 23 of them sold for 25% or more over asking. However, the condo market is definitely not experiencing parallel activity. Only six of the 62 units sold traded hands for more than 25% over asking.

Houses on the west side made a strong overbidding showing this month. Thirteen of those 18 houses sold for 25% or more above the list price were located in the Sunset, Parkside, Richmond and Golden Gate Heights. Buyers for the tenant-occupied house on Capp at 22nd Street in the Mission paid $1M in cash for what’s presumably a development opportunity.

Here’s how things have gone so far in August 2015:

Extreme Overbidding (25%+ over asking)
Houses:
763 36th Ave / Outer Richmond
List Price: $788,038 / Sale Price: $985,000 (25%)

554 45th Ave / Outer Richmond
$1,125,000 / $1,500,000 (33%)

2080 14th Ave / Golden Gate Heights
$899,000 / $1,302,080 (45%) Continue Reading

Get in touch:

Eileen Bermingham

Zephyr Real Estate

415.823.4656

ebermingham@zephyrsf.com

BRE# 01352627

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