Category Archives: Noe/Eureka Valley

What You Can Buy: Condos with Deeded Gardens

Finding a condo in San Francisco with a private, exclusive-use garden is not all that common. After all, who wouldn’t want a yard of their own for grilling, dining, kids and dogs?

Four terrific condos with deeded gardens just hit the market, and I’m anticipating they’ll sell quickly. Check them out on the open house circuit this weekend, and start thinking about where you’ll be planting the raised vegetable beds:

2447 Vallejo
Pacific Heights

2BR/1BA, 1314 sq ft. 1 pkg
HOA dues: $475/month
List price: $1,649,000

2447 Vallejo is located on a flat, tree-lined street in a six-unit building. The living room has French doors that open on to the stairs that lead to the large, south-facing garden and patio. The unit itself has an open floor plan, in-unit laundry, deeded storage and garage parking. (Listing courtesy of Sotheby’s International Realty) Continue Reading

Buyers Exceed Seller Expectations with Extreme Overbids

Buyers Exceed Seller Expectations with Extreme Overbids

It’s one thing to list a property lower than the targeted price, but 95% of the agents I know who do significant business in San Francisco (including myself) don’t typically list a property for hundreds of thousands of dollars less than expected. So it boggles my mind when I see extreme overbids of 50% or more.

But it’s easy to rationalize a crazy selling price in a hot market with inventory that doesn’t meet the demand. Here’s a look at the latest head shakers for 2018 so far:

100 Teresita | 4BR/2BA, 1833 sq ft | Miraloma Park
List: $1,199,000
Sold: $1,950,000
62.5%+ Continue Reading

State of the TIC Market: February 2018

State of the TIC Market: February 2018

Buyers snapped up tenancy-in-common (TIC) interests in San Francisco’s most popular neighborhoods over the past six months, proving that the TIC market is alive and well despite its inherent ownership risks.

TICs represented a fairly small percentage of overall sales from August 2017-January 2018. Though almost 1100 condos sold in that timeframe, only 118 TICs did. The TIC median price was $1,017,500—closer to $1.2M for TICs in two- to four-unit buildings. But more than half of all sales were for TICs in buildings with five or more units, notable and surprising because these properties won’t be eligible for condo conversion if the lottery indeed resumes in 2024. Continue Reading

What You Could’ve Bought for Below The List Price

Yes, most San Francisco homes sell for more than their list price. But not always, especially when there are some challenges involved. Busy locations? Poor overall presentation? Those factors end up thwarting sellers every time. Here are three properties that didn’t slam into contract for way over the list price:

688 Clipper
Noe Valley
List Price: $2,250,000
Sale Price: $2,150,000
Days on Market (DOM): 128

688 Clipper technically shouldn’t be here, as it was originally listed for below $2M. The story is that the property came on the market in August 2017 for $1,999,999, and the sellers raised the price to $2.3M twenty days later. No buyers came along, so they reduced the price to $2,275,000 and received an offer shortly thereafter. That fell out of contract, and the price then slid further to $2,250,000. Challenges here were a very vertical floor plan, a location on a trafficked street that’s more Diamond Heights than Noe Valley, and a lack of staging that other properties at this price point often have. Continue Reading

What You Could’ve Bought in Late 2017 for Below The List Price

San Francisco inventory has generally been low when you consider how many people want to buy homes here. That’s why I was surprised to see a fair number of sales that closed last week for under their list prices.

A few data points: Most under-asking sales were only two- to three percent below the list price, and most spent a fair amount of time on the market. Very few single-family homes sold for less thank asking, but I wanted to highlight three condos that I think were good deals for buyers:

44 Sharon
Eureka Valley
List Price: $1,150,000
Sale Price: $1,000,000
Days on Market (DOM): 50

44 Sharon is a top-floor, 3BR/1BA condo in a five-unit building located between 15th and 16th Streets/Church and Sanchez—very central and walkable. Though the bedrooms were small and there was a bit of an awkward floor plan, the unit came with one-car parking. And did I mention the location near all modes of public transportation, tech shuttle stops and plenty of shops and restaurants? Continue Reading

SF Condo Market Mixed in 2017

The San Francisco condo market was not quite as jubilant as its single-family home counterpart in 2017. Yes, there were the random instances of 25%+ overbids, and an eight percent, year-over-year increase in the average condo price. But we basically saw a repeat of 2016, with prices flatlining.

The average citywide price of a condo in the fourth quarter of 2017 was approximately $1.3M—up from $1,210,000 in Q4 2016. We also saw the average price-per-square foot end up at $1,052, which was a four percent increase year over year. Continue Reading

SF House Market Soars (Again) in 2017

A strong local economy coupled with high buyer demand fueled the San Francisco single-family home market in 2017 amidst a backdrop of concerns about things like the new presidential administration, North Korea and a possible real estate bubble.

2017 was basically a continuation of the 2016 market—high prices, multiple offers, extreme overbids, discouraged buyers and happy sellers.

The good news for homeowners is that the average price of a house in the fourth quarter of 2017 was almost $1.9M. The bad news—if you can call it that—is that the average price rose less than 2.5% over Q4 2016. Given that we’ve seen double-digit growth over the past few years, this minimal increase is worth noting as we head into 2018. Continue Reading

Just Listed: 131 Hancock

Just Listed: 131 Hancock

My gift to holiday home buyers is over at 131 Hancock. This extremely well-appointed condo is all about San Francisco and ticks all the boxes for the most demanding city buyer: Victorian period detail, extra half bath, private outdoor space, charming front and rear gardens, on-site laundry, and an amazing location near the Mission, Castro and Dolores Park.

131 Hancock is no cookie-cutter home. It’s in a neighborhood where very little new housing is constructed, and this is the type of property you buy when an A+ location and classic San Francisco architecture are your top priorities.

Check out our Web site for photos and details.

Stop in and see this beautiful home this weekend. We’ll be open on Saturday and Sunday from 2:00-4:00!

What You Could’ve Bought for Below 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. November brought with it some sales that veered from the typical pattern, in neighborhoods where it absolutely is the norm to overbid. Congrats to these buyers and sellers who wrapped it up before the end of the year:

136 6th Avenue
Lake Street
List Price: $3,125,000
Sale Price: $2,650,000
Days on Market (DOM): 39

136 6th Avenue was a single-family house with a legal one-bedroom apartment down (used as an office by the former owners). The location at 6th and Lake was excellent, and perhaps this home suffered from less-than-stellar marketing (no word yet if the red tea kettle and the pepper mill were included in the sale). Continue Reading

What You Can Buy: Condos With Walker’s Paradise Scores

Location counts for a lot in San Francisco, and most condo buyers want to live in neighborhoods that offer services, restaurants, shops and public transportation in walking distance. I thought I would highlight a few of my favorite properties currently on the market that have excellent Walk Scores. Here are my picks:

77 Jersey
Noe Valley

3BR/1BA, 1 tandem pkg
HOA dues: $473.33/mo
List price: $1,349,000
Walk Score: 96

77 Jersey is an ideal location for buyers who take BART, and want to be a block from the 24th Street corridor that runs through both Noe Valley and the Mission. The condo itself is a handsome, first-floor unit with a formal dining room, eat-in kitchen and a nicely remodeled bathroom in an Edwardian building. Continue Reading

The 5 Best Neighborhoods for NY Transplants

I moved to San Francisco from New York twenty 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 worried 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. Continue Reading

Just Sold: Vacant View Edwardian Duplex in Noe Valley

Just Sold: Vacant View Edwardian Duplex in Noe Valley

My client closed last week on the purchase of two vacant units at 4151-4153 23rd Street, and he is thrilled!

Situated on in a prime location on 23rd Street between Castro and Diamond, the building has a two-bedroom/one bath upper unit with beautiful southern views from the rear bedroom. The lower two-bedroom unit spans two levels and has its own private deck. There’s a huge yard with tons of potential, a one-car garage and an amazing neighborhood location near all the shops and restaurants that line nearby 24th Street.

4151-53 23rd Street sold for $2,100,000.

And I thought I would toss in the testimonial my client, Andy, wrote about his experience working with me (click on the review for a larger image):

Congratulations, Andy, and it will be great to have you in the neighborhood!

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

Sunset, Pacific Heights Hot Spots for Cash Sales in 2017

Almost a quarter of this year’s single-family homes and condos were purchased by cash buyers, with neighborhoods like the Sunset, Parkside and Pacific Heights seeing the most such sales.

The Sunset and Parkside have been going full speed this year as house buyers priced out of the more interior neighborhoods head west in search of their next home.

Noe and Eureka Valley single-family homes were also big cash magnets, where sales ranged from $2,000,000-$5,000,000. However, such buyers also scooped up houses for $1,000,000 or less in the city’s southeastern neighborhoods of Bayview, Excelsior, Visitacion Valley, and Silver Terrace. 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

Get in touch:

Eileen Bermingham

Zephyr Real Estate


BRE# 01352627

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