No Car? No Problem!

San Francisco continues to head toward a transit-oriented environment, fueled by new construction residential developments that are providing one parking space for every two units (or no parking at all). Car-sharing services are also helping the anti-car ownership trend. Indeed, if you’re buying a condo in a central location near retail areas, rail or bus lines, there is not as much of a need to own a car these days.

I rounded up three great condos that are currently on the market and which don’t provide parking. [Read more…]

Modest Price Increases in SF, Spotlight on Potrero Hill

The new Zephyr MarketTracker is out, and the biggest news is that prices in the single-family home and condo markets are only up 2.8% and 3.8%, respectively, over the past six months.

We also take a look at some properties in Potrero Hill (average price, roughly $950,000 for a home), as well as note that the move-in date is coming up for Nob Hill’s Marlow development.

Plus, details on the Fairmont’s giant gingerbread house! It’s all here in the latest edition of the Zephyr MarketTracker.

Buyers Land Holiday Deals in Luxury Market

The rule of thumb in San Francisco real estate is that if you’re sitting on the market for a very long period of time—and the holidays are approaching—-it’s highly likely you’ll eventually sell for significantly less than your original list price. Though most sales in our city are closing for above list price, I did find some recent sales that wrapped up after Thanksgiving.

In other words, the sellers came to grips with the reality of their home’s worth, and got it all done before the end of the year:

21 Laidley
Glen Park

Original List Price: $1,950,000
Sale Price: $1,410,000
Days on Market (DOM): 57 days
21laidley
Views certainly count for something in San Francisco, but so do the number of bedrooms, parking availability and location. 21 Laidley doesn’t have parking, and though it’s in a nice part of Glen Park, the two-bedroom limit and a tucked-away locale didn’t quite merit an almost $2M price tag. I think the buyer paid an appropriate price for 21 Laidley.

1081 Pine #401
Downtown

Original List Price: $3,125,000
Sale Price: $2,300,000
DOM: 136
1081pine_401
1081 Pine #401 is a two-level townhome with a nicely remodeled kitchen, private balcony, three bedrooms/baths, and two-car parking. It also carries a $900/month HOA fee and is situated on a busy street. So the $3M+ starting point did seem wildly ambitious. But hey, if you’re a seller who’s not in a hurry, you can list in the summer and wait around for a buyer to pay your price. That didn’t happen, but they sorted things out in early December, probably dreading making a go of it in 2014 with an overpriced downtown condo listing. And the buyer paying all cash undoubtedly greased the wheels.

1350 Jones
Nob Hill

Original List Price: $4,500,000
Sale Price: $2,900,000
DOM: 234 days
1350jones
Located on a prime Nob Hill street, 1350 Jones is a London townhouse-style single-family home with interesting architectural details. But it basically needs to be completely updated, so the more palatable $2.9M selling price will most likely allow the buyers to invest in some remodeling and create a very cool home.

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.

So if you’re looking at a hot property in a neighborhood that’s prone to attracting cash buyers, you may be out of luck. For buyers with loans, it’s unfortunately the way it goes: Sellers are looking for a sure thing, and a quick path to their proceeds so they can get on with their lives.

Cash buyers picked up 184 condos/TICs and 98 single-family homes from July 1-September 18, 2013. Where did they appear, and which neighborhoods were hit the hardest?

Eureka Valley, Lower Pacific Heights, Bernal Heights, Portola and Ingleside attracted many single-family home cash buyers in that timeframe, with a majority of the sales prices landing in the $600,000-$1M price range. A total of 18 homes sold above $2M.

On the condo front, neighborhoods such as the Haight, Noe/Eureka Valley; Lower Pacific Heights; Western Addition; Pacific Heights; Nob/Russian Hills; Mission, SoMa/South Beach were the most popular ‘hoods for cash buyers. Sales in the $600,000-$1.2M range were the most common, though there were quite a few sales in the $1.3M-$2M range, and six sales were above $2M.

Word of advice? If you’re looking for a home in the aforementioned neighborhoods and price ranges, and the property you like already has 15 disclosure packages out, it might be a good idea to move on to something else if you aren’t willing to pay top, top dollar and waive contingencies. Buyer burnout becomes quite common at this stage of the year, and a change in strategy is one you might want to discuss with your Realtor if you want to be successful in your house hunt by year’s end.

Marlow 70% Sold Out, Sight Unseen


One of the fastest-selling condo developments has been the 98-unit Marlow at 1788 Clay in Nob Hill, which kicked off sales in the Spring . The building is 70% sold out, according to the sales office, and buyers continue to make purchasing decisions without actually seeing the condos in person. Instead, they’re referencing floor plans and the model in the sales office.

Marlow is one of the rare new developments in the north end of town, so that makes it a popular choice among buyers who are looking for an easy commute downtown or to the North Bay, as well as to 101 via Van Ness. The building is also situated in the heart of the Polk retail corridor, which makes things extremely convenient for residents who want to be able to walk to shops, restaurants and cafes.

So it’s not surprising that buyers are committing to purchases without physically seeing units first. The best condos sell quickly; in this case, higher floors facing north, south & east have been popular.

Interior framing is complete up to the seventh floor, and window installation is almost complete on all floors. Progress is also being made on the courtyard, interior painting, and elevator system.

Nine 1BR condos remain, ranging in price from $725,000-$837,000, and 11 2BRs are available, from $984,000-$1,510,000. In general, you’re looking at just over $1,000/sq foot for the 1BRs, and between $1100-$1200/sq foot for the 2BRs. Parking is included in these prices, though you can knock $40,000 off the price if you don’t want the space.

Give me a shout if you’re interested in exploring your options at Marlow. I’d be happy to negotiate the best deal possible for you.

What You Can Buy in August: 21 Days & Counting

New listings got you down? Well, I found two condos and one single-family home that have been sitting on the market for more than 21 days. And that means potentially writing an offer without having to compete with other buyers and pay way over the list price. Here’s what I have to show you this time around:

251 Upland
Mt Davidson Manor

Days on market (DOM): 33
3BR/2BA, 2134 sq ft
2 pkg
List Price: $995,000

Where can you find a 2,000+ square foot house with three bedrooms, two full bathrooms and parking in a nice neighborhood for under $1M? 251 Upland fits the bill. Though it doesn’t have much outdoor space, the home occupies a corner lot and has lovely 1930s period detail. The kitchen is spacious and has a breakfast nook, and the lower level includes a bedroom, den/media room, laundry area and storage. 251 Aptos is right near Ocean Avenue, Lakeside Village, Whole Foods and Stonestown Galleria.

226 Ashbury
NoPa

Days on market (DOM): 24
2BR/2BA, 1300 sq ft
1 pkg
List Price: $899,000

226 Ashbury is a condo that had a brief foray into contract before coming back on the market earlier this month. It’s obviously gotten lost in the newer inventory shuffle. Situated only half a block from Golden Gate Park, this Victorian condo features a large master suite that can also accommodate a sitting area or office, remodeled kitchen, exclusive-use deck and direct access to the common paved yard. You’re on the first floor of a three-unit building, but for the location and overall unit scale, the list price seems like a deal to me.

1244 Jackson
Nob Hill

Days on market (DOM): 25
3BR/1BA, 1,332 sq ft
1 pkg
List Price: $1,299,500

1244 Jackson is located right on the cable car line, which is charming (but could also be noisy). The building was constructed in 1910 and has all the gracious interior details to show for it. Yes, you only have one bathroom, but if you can get past that, you’ll enjoy an eat-in kitchen with Golden Gate Bridge views, and parking.

What You Can Buy: North End Condos for Up To $1M

It can be a challenge to find a 2BR condo with parking in classic San Francisco neighborhoods such as the Marina, Nob Hill, and Pacific Heights. Today we look at three properties that fit into that price range:

1655 Chestnut #302
The Marina

2BR/2BA, 1100 sq ft
HOAs $523/month, 1 pkg
$965,000

The Scoop: One of the few properties that isn’t in a liquefaction zone in the Marina, 1655 Chestnut #302 boasts a top-floor position in an 11-unit building, along with neighborhood views from the living/dining areas. Well appointed with Brazilian cherry wood floors throughout, the unit has a remodeled kitchen with high-end appliances, and skylights. The building has a roof deck, garden/BBQ area, storage, and an elevator.

The Location: 1655 Chestnut is about three and a half blocks from the heart of the Chestnut Street retail area, so you’re out of the fray a bit and don’t have to deal with constant activity outside your door. It’s also an excellent location for North Bay commuters, who can jump on Lombard and head to the bridge. Many bus lines run nearby to downtown, as well.

Background Check: The unit last sold in 2007 for $951,000.

939 Jackson #202
Nob Hill

2BR/2BA, 1088 sq ft
HOAs $397/month, 1 pkg
$939,000

The Scoop: 939 Jackson #202 is perfect for the Nob Hill buyer on a budget. Though you don’t get views, you do get decent space in a newer, 2005-built property. The unit has nice finishes and an open kitchen/living/dining room floor plan. Bedrooms aren’t huge, but are nicely painted. Jackson is right on the cable car line (though the unit is located at the rear of the second floor, so it’s quiet). And there’s a great roof deck with 360-degree views.

The Location: The only problem here is that you may have more house guests than you might want; you’re in walking distance to North Beach, Russian Hill, Chinatown, downtown, and Union Square.

Background Check: #202 just sold in June 2012 for $903,000. #301 in the building is currently in contract with a list price of $949,000; that unit had views from every room and was one floor up.

2315 Divisadero, Unit S
Pacific Heights

2BR/1.5BAs, 1115 sq ft
HOAs $432/month, 1 pkg
$879,000

The Scoop: My favorite of this trio, 2315 Divisadero unit S has newly reinvigorated common areas and gets great natural light. It’s on the top floor of a nine-unit building constructed in 1962, and has an open dining/living area. The kitchen is on the small side and is tucked at the rear of the unit, but it’s totally workable and clean. The master has only a half bath, but it’s better than one bathroom for the whole place. The unit’s hardwood floors have recently been refinished, there’s a wood-burning fireplace, and designer lighting fixtures. And don’t forget about those common areas, they’ve been painted, had carpet replaced and new front doors for each unit installed (with plantation shutters for the hall windows on the way). There’s an elevator in the building.

The Location: Though you’re right on Divisadero, the unit is quiet with the windows shut and you can’t beat the central location.

Background Check: Six of the nine units are rentals, so your choice of lenders will be limited to First Republic. No 30-year fixed loans available, but you can get a 15-year fixed at a low interest rate.

What You Can Buy: Two-Unit Buildings

Two-unit buildings in San Francisco that are eligible for one or two owner occupiers are one of the most desirable multi-unit property types in San Francisco. Two buyers interested in partnering up and living in both units while they pursue a fast-track condo conversion are great prospects for such a building, as is an owner occupier who wants to reside in one unit and rent out the other. (The latter doesn’t allow that owner to circumvent the condo lottery, but it can be an excellent way to afford a home that you otherwise may not have been able to purchase without factoring in rental income.)

I wanted to highlight three two-unit buildings that I think are great prospects. If you’d like further details on any of these properties, or would like to talk more about the ins and outs of purchasing two units, please contact me. I’ve owned my two units in Noe Valley for many years, living in one unit and renting out the other. So I can tell you firsthand about the ins and outs.

Here are my two-unit picks at the moment:

2583-2385 Greenwich Street / Divisadero
Cow Hollow

$1,379,000

This is an excellent opportunity to purchase a pair of flats which will be delivered vacant, as the owner resides in one unit and will be moving. There are two 2BR flats with a combined square footage of 2240. This is the first time 2583-2385 Greenwich has been on the market in 30 years, so you can expect a need for cosmetic updates—not a bad way to increase value right away. The property has its original 1930s detail intact, from a large fireplace to crown moldings. There’s a three-car garage that provides three independent spaces, one of which is rented. For buyers seeking outdoor space, this isn’t the property for you, as the building takes up the entire lot. But you can certainly look into the possibility of adding a roof deck, which would pave the way to Bay, Golden Gate Bridge and Alcatraz views. This location is central to Union and Chestnut Streets, North Bay commutes, and Muni lines.

17-19 Ford/Sanchez
Eureka Valley

$1,785,000

17-19 Ford is a prime two-unit building in a great Eureka Valley location. Each flat has 2BR/1BA, and are roughly 1500 square feet each. The property has been improved with refinished floors, double-paned windows, new electrical and plumbing and seismic upgrades. Kitchens in each unit have been remodeled with new appliances. There are southern views from the bedrooms, plenty of storage, large bonus rooms, and both units will be delivered vacant. This is an excellent fit for two TIC partners looking to condo convert—and who’d rather not be bothered doing their own renovations. Though the location is technically Eureka Valley, Ford is only a block and a half to Dolores Park, three blocks to Castro Street, and is an easy stroll to the heart of the Valencia corridor.

1027-1029 Washington/Powell
Nob Hill

$1.2M

1027-1029 Washington is a two-unit building that will be delivered vacant and could use updating, so this is another one perfect for TIC partners looking to condo convert. There are two 2BR/1BA units that are around 1,000 square feet each, and a one-car garage. The building is situated in a busy part of Nob Hill/Chinatown, about two blocks from the top of Nob Hill and three blocks from the Financial District. So that makes it a good prospect for buyers who work downtown and want to be able to walk everywhere. There’s also plenty of public transportation nearby.

Nob Hill’s Marlow Launches Condo Pre-Sales

I visited the sales office for Marlow, the 98-unit condo development currently under construction at the corner of Van Ness and Clay in Nob Hill. The building will be move-in ready in early 2014, but the sales office has started selling units and already has ten units under contract.

Marlow is a mix of one- and two-bedroom units, as well as three-bedroom townhomes across eight stories. Floor plans include either units with or without dens, which is the main distinction.

Finishes include white quartz countertops, natural walnut cabinets, porcelain backsplashes and tiling, and stained maple floors. (Refrigerators, microwaves, and washer/dryers are not offered in the purchase prices.) The kitchen counter features a media station for charging your electronic devices:

Bathrooms have equally nice finishes:

Amenities include independent parking for each unit, bike storage (but no additional storage), three carshare spaces, air conditioning (in San Francisco, no less), and half of the homes have some sort of balcony for outdoor space. Windows are “double-, triple- and quadruple-paneled,” as per the sales office. And the common area is “Marlow Park,” which is an open space on the ground level that will feature a bocce court, grill, and firepit. There’s no roof deck.

Pricing is at a premium, ranging from $922-$1200/square foot. Units being offered now range in square footage from 671-1267 square feet, with the least expensive condo being a 746-sq foot 1BR + den on the second floor listed at $689,900, and the most expensive being a 1231-sq foot unit on the fifth floor listed for $1,232,900. Monthly HOA dues are $540-$667.

Buyers who want first pick of the available units will have to be content making their decisions based on floor plans and depicted views and other details via the sales office’s touch screen display. Those ten buyers already in contract are betting that Marlow’s condos will be worth current prices when the building is finally ready for occupancy in early 2014.

I like Marlow’s design and amenities, and believe that the units facing north, east and south will be the best ones. West-facing units that front Van Ness are the ones with the quadruple-paned windows, no doubt, and will require buyers who are less sensitive to noise—or ones who’d be happy running air conditioning and keeping the windows closed. The location is extremely central to the Polk Street corridor’s shops and restaurants, and is in walking distance of the Financial District. Given the limited new development opportunities in the well-established neighborhoods of Russian/Nob Hills, Marlow offers a good opportunity for buyers looking for shiny, new finishes in a convenient location.

If you’re interested in independent representation at Marlow, please contact me and I will schedule a visit to the sales office for us. The sale process in new construction is unique, and I can use my experience in this area to help you make the right decisions, as well as navigate all the ins and outs of the process.

Inventory Down, But Don’t Overlook Older Listings

It’s no secret that San Francisco housing inventory is pretty low right now. The above graph shows you how inventory levels have steadily decreased over the past two years.

So in one corner, we have prospective buyers out there who are feeling an urgent need to make a purchase, fueled by high rents and low mortgage rate. But in the other corner, we have a limited supply of homes to meet the need. What’s a buyer to do?

Answer: Don’t fall into the trap of only considering new listings. It may take a little more work and negotiating, but hunting down a home that’s been on the market for 30+ days may turn out to be the solution. With that in mind, I’m going to regularly feature trios of these types of listings across all property types and price ranges. Sometimes calling such listings to buyers’ attention gets the wheels turning.

939 Jackson #303 / Nob Hill
List Price: $869,000
2BR/1.5BA, 1131 sq ft / Built 2005
Days on Market (DOM): 75

Background: 939 Jackson #303 is one of those centrally located condo listings that makes me wonder why a buyer hasn’t yet snatched it up. The unit features an open floor plan, city views, nice finishes throughout and a limestone-tiled gas fireplace in the living room. One-car parking is included, and there’s also a shared roof deck. There are nine units in the building, and HOA dues are $396/month.

Location: Two cable car lines pass by, and the building is in walking distance of North Beach, Russian Hill, Chinatown, Financial District and downtown.

Market perspective: The average 2BR condo sale in Nob Hill from June-November 2012 clocked in at $970,758 for an average of 1280 square feet, and the most relevant comp is the 2BR on the same floor with similar square footage that sold in August for $905,000. Current list price is $869,000, down from $888,000.

290 Dorantes / Forest Hill
List Price: $1,385,000
3BR/3.5BA, 2464 sq ft / Built 1948
Days on Market (DOM): 62

Background: 290 Dorantes is a detached, mid-century single-family home with a nicely remodeled kitchen, two bedrooms on the main level and a master bedroom up. There are three decks, as well as a lovely garden. A bonus room and bath are downstairs, with a separate entrance, along with two-car parking. (And a termite inspection on file for only $3,000 in recommended repair work.)

Location: 290 Dorantes is in proximity to the West Portal retail area, and also happens to be located on a lovely, tree-lined street.

Market perspective: The property came on the market with an initial list price of $1,450,000, so the price has come down considerably since then. The 3BR/3.5BA home next door just sold for $1,485,000.

997 Carolina / Potrero Hill
List Price: $579,000
2BR/1BA, 1067 sq ft / Built 1978
Days on Market (DOM): 104

Background: It’s a challenge to find a two-bedroom condo in the city in this price range, as some of my buyer clients will attest. Take note of 997 Carolina, a well-appointed unit with a split-level floor plan that provides a nice separation between living space and bedrooms. The unit has pano views and access to a large, private deck, as well as a shared yard and one-car parking. And there’s a fireplace in the living room, too. There’s only one other unit in the building, and HOA dues are $80/month.

Location: 997 Carolina is situated in a reasonable location within Potrero that has an 83 Walk Score.

Market perspective: The unit was originally listed for $649,000, and last sold in 2006 for $665,000. The sellers just reduced the price yesterday from $599,000 to the current $579,000. Good comps for 997 Carolina are two 2BR condos that sold in June 2012 on the 600 block of Carolina for $700,000 each.

Sellers in Parkside, Nob Hill Adjust to Market Realities

It’s always a pleasure to report sales that have finally happened after umpteenth days on market (otherwise known as “DOM” in Realtor speak). I spotted a couple such sales that closed last week, and wanted to share the deets with you.

We stop out in the Parkside for the first sale–on the Great Highway, to be precise:

The lucky buyers of 2518 Great Highway can now lay back in bed and watch HBO against the ocean view backdrop, knowing that they paid substantially less than the original list price. The 3BR/2BA single-family home at Great Highway and Vicente was first listed in March 2011 for $1.4M. The property had been nicely remodeled and feature three levels with good space. But $1.4M for the Great Highway? Buyers thought otherwise, and the house sat on the market for 112 days before a buyer paid cash and closed the sale for $990,000. You go, buyer.

Next up is 1201 California #705, a condo in the Cathedral Tower:

This 2BR/2BA unit had city, Bay and Golden Gate Bridge views, along with an open floor plan, spacious master bedroom and one-car parking (not to mention leased parking fees of $240/mo and HOA dues of $1640/month). First listed way back in November 2008 at $1,195,000, the economy progressively didn’t cooperate. The sale closed last week for $750,000. Woo-hoo.

But buyers, don’t let these sales trick you into thinking that you can easily write a lowball offer in the first couple months of a property coming on the market. In most cases, sellers with wildly overpriced properties will need much time (see the above cases) to relent. Their situations can change, and other comparative sales can end up convincing them to let go of their pipe dreams. If a home in San Francisco is priced well (i.e., in line with comparative sales over the past three- to six months), that home will likely go into contract and sell within a very reasonable period of time.

The 5 Best Neighborhoods for NY Transplants

I moved to San Francisco from New York thirteen years ago, and frequently work with many New Yorkers who have relocated here. New York is definitely a world of its own, and I must admit that I was a bit worred when I moved to San Francisco; in my mind, I’d have to drive everywhere, and things wouldn’t be as central. After all, San Francisco’s layout is different in that downtown feels like Manhattan, but everywhere else seems like outer borough neighborhoods strung together—at least, at first. It takes some time to realize that many San Francisco areas are little New Yorks unto themselves.

But as time went on, I found myself gravitating toward certain neighborhoods that either had a New York feel to them, or which had the attributes I appreciated about Manhattan life. For all you New Yorkers thinking about moving west, here are my picks for San Francisco neighborhoods that will make your transition easier:

1. South Beach. Home of more recently developed condo buildings, South Beach has a prime waterfront location and an excellent micro climate. AT&T Park and the Giants reside there, so you get your New York-level crowds whenever there’s a home game day. You can easily walk downtown or jump on the freeway to head south, and the BART/Muni stations are not far away at the Embarcadero station at Market. There are great restaurants in South Beach like Marlowe and Tres, and plenty of bars and design stores. For a Gramercy Park-style respite, you can hang in South Park and visit one of the many cafes or restaurants that line that circular refuge.

2. Nob Hill. Perched above downtown, Nob Hill is old San Francisco at its best. It has the most New York feel of all the neighborhoods listed, and has some excellent little restaurants. It’s also in close proximity to Chinatown and North Beach, and Russian Hill. Big bonus are the views, which come naturally due to the elevation. In other words, if you can’t afford a view condo, you can at least see views when you walk around outside.

3. Mission Dolores. With a more hipster feel to it than that of the other neighborhoods, Mission Dolores is a hotbed of cafes and restaurants. You’ll feel right at home waiting on line behind the cordons for BiRite’s ice cream on a weekend afternoon. Muni rail lines and BART whisk Mission Dolores dwellers to any point in the city. Though you might miss Central Park, Mission Dolores Park is not a bad substitute if you’re looking for a place to lay your blanket. And it has excellent city views from some points in the park. Head east past Valencia, and you’re in the heart of the Mission District’s restaurant kingdom. 

4. Noe Valley. I’m a little biased on this pick, as I live in Noe now. Actually, I’m in what’s called Upper Noe, which means I can walk to the Mission/Bernal Heights, as well as the 24th Street retail strip in Noe Valley. We’re ten minutes’ walk from BART, and nearby Church Street hosts the J line that runs downtown. There’s also a nice microclimate, particularly when you’re located in the east portion of the neighborhood. Noe is big on kids and dogs, but having them isn’t a requirement.

5. Lower Pacific Heights. Fillmore Street’s retail strip runs right through Lower Pac Heights, and the housing stock is varied. You can find large buildings with spacious floorplans, or Victorian-era properties that smack of quintessential San Francisco. It takes about 15-20 minutes at the most to drive from the area to any other neighborhood in the city, and there are plenty of bus lines that run in all directions. You can walk to Japantown, Pacific Heights and Alta Plaza Park, and even downtown if you’re so inclined.

Give me a shout if you’re in the process of relocating. I handle sales exclusively, but also know some rockin’ leasing agents that could point you in the right direction of you’re planning to rent.

SoMa Bowling, Battle of the Avenues

The latest MarketTracker gives you the update on the Lucky Strikes bowling lane in SoMa, and takes a look at a deconstructed Nob Hill penthouse. Plus: Battle of the Avenues in the Richmond and Sunset, and sales stats for the past two weeks.

It’s all here in the Zephyr MarketTracker.

Preview: Nob Hill 2BR/2BA for $799,000

I previewed a nice condo at 66 Bernard Street #1 in Nob Hill this morning on our Zephyr broker tour.

Located on the first floor of a three-unit building, the property has 2BR/2BA, a deeded private patio and one-car parking. It’s not a huge property–square footage clocks in at just under 1,000 square feet. However, you get a master suite, remodeled kitchen, living room/dining area with deck, and a wood-burning fireplace. Plus, HOA dues are only $200/month and the building was constructed in 1987—so it’s as modern as it gets in Nob Hill without being completely new construction.

#1 was last sold in 2005 for $825,000, so the list price this time around takes the current market into consideration.

For those of you unfamiliar with where Bernard is, click here.  It’s on the Russian/Nob Hill border and you’re therefore close to North Beach, downtown and Telegraph Hill. There are plenty of services and shops nearby, and the Walk Score is 91. Give me a call if you’d like to see 66 Bernard #1, and I can get you in before the property officially hits the market.

Update: This unit was reduced at the end of January to $759,000.

Open House Spotlight: 1555A Sacramento in Nob Hill

If you’re one of the few souls staying home this weekend in the city, you might be interested in checking out some open houses. Nob Hill is a great place to do this, as you can mix in some brunch and sightseeing along the way.

So head over to 1555A Sacramento Street, where this 2BR/1BA cottage is listed at $969,000. There aren’t many places in the north end of San Francisco where you can get a two-bedroom single-family home for this price. The property is located on a shared parcel, with an HOA. But it is fully detached, and has a desirable open floor plan, private rear deck with spa, and a living area with a 16-foot, vaulted ceiling. There’s also parking for one small car. 1555A Sacramento is between Hyde and Larkin.

Open 2:00-4:00 on Sunday.