Category Archives: Pacific Heights

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)
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

Coming Soon and Off-Market Opportunities: August 7, 2015

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

43-45 Fair / Bernal Heights
Two units, cosmetic fixer

607 Shotwell / Mission
1BR/1BA TIC with no parking, four-unit building

2905 Bush / Lower Pac Heights
3BR/3BA Victorian house with legal garden apartment–technically two units
$2,849,000Continue Reading

SF Condo Market Sees Summer Softening

SF Condo Market Sees Summer Softening

The San Francisco condo market tends to hop into a hammock for a siesta around July and August. For buyers who aren’t on vacation and serious about snagging a new home or investment property before the big Fall push, summer can present a wonderful opportunity to avoid bidding wars and get a pretty good deal.

There are 200 condos on the market as of this writing, and almost half are looking at a days on market (DOM) count of 21 days or more. 38 of these condos are listed for under $1M, and 29 for $1.5M+. For once, the luxury market isn’t leading the market-sitter pack.Continue Reading

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

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

18 Lansing #303 / SoMa
1BR/1.5BA loft, 1 pkg

72 Amber Drive / Diamond Heights
4BR/2.5BA Eichler home, needs work

475 Texas #B / Potrero
4BR/2BA condo, 2 pkg, top-floor condo with decks

4521 25th Street #1 / Noe Valley
3BR/2.5BA condo, 2 pkg, 1860 sq feet with deeded flat yard
$1,695,000Continue Reading

Condo Overbids Calm Down in June

I received a lot of comments and emails on my post earlier this week about house sales in San Francisco that didn’t require overbidding in June. The big question: “What about condos?”

The good news for buyers is that even more condos are selling for less than or at their list prices. But do note that these sales aren’t happening in the most popular neighborhoods. If you’re open to areas that aren’t Noe Valley, the Mission, Pac Heights or NoPa, there are plenty of opportunities out there—particularly in high-rise buildings where there are many units.

Here’s the lineup of resales reported in June that were marketed through the MLS: Continue Reading

What You Can Buy: Condos With Private Gardens

What You Can Buy: Condos With Private Gardens

It’s not common in San Francisco to find condos with large, exclusive-use gardens or yards. Most of the time, you’ll get a small deck overlooking a yard, or no space at all. But I’ve rounded up three great properties that have spacious gardens where you can relax, entertain and grow things. Close escrow quickly and you can still get those tomato starts going.Continue Reading

The Highs and Lows of SF Real Estate: April 2015 Edition

Our real estate market is moving at a brisk pace, so I thought it would be a good time to reflect on the least and most expensive houses and condos sold so far this month.

Single-Family Homes
Least Expensive House:
80 Seneca
Mission Terrace
Listed for $499,000 and sold nine days later in a cash transaction for $555,000, 80 Seneca was the rare house for well under $1M in San Francisco. The 750-square foot property needs a “full rehab” and only has one bedroom. But with the average house price in the neighborhood holding steady at just over $1M, these buyers can do their renovation and most likely end up with a property that holds its value.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

Sellers Search for Build-It-Yourself Buyers

Sellers Search for Build-It-Yourself Buyers

There are at least a dozen single-family homes on the market that are being sold with approved construction permits, architectural plans, or simply positioned as “opportunities to build your dream home.”

The trend in 2015? Hand off construction to buyers, who will hopefully pay a premium for lot value and approved (or unapproved) plans. In many cases, the owners (typically an LLC or contractor) may have more pressing projects and will agree to sell if the numbers add up. Or, in the case of those selling properties without approved plans, they may be anxious that today’s market won’t be quite as strong by the time they can get plans approved and the property built.Continue Reading

Noe Houses, Cow Hollow Condos Lead Price Per Square Foot Pack

Heads up, San Francisco house hunters: If you’re looking to get into hot neighborhoods like Noe Valley, NoPa, and the Marina, be prepared to potentially pay more than $1,000/square foot.

Noe Valley has truly jumped the shark with its price per square foot average for single-family homes: It’s now just above $1400. And thanks to the new Amero condo development in Cow Hollow, that neighborhood’s price per square foot average leads the pack for condos in the city.Continue Reading

What You Can Buy for the Holidays

What You Can Buy for the Holidays

There are a few intrepid sellers who have just listed their homes and would undoubtedly love to be in contract before Christmas. Here are four new listings that I think will definitely achieve that goal, if not be actually sold and closed by December 25th. If you’re a buyer, it’s time to move quickly! Be decisive, and choose your calendar timeframes strategically because banks and title companies close early on Christmas Eve/New Year’s Eve, and are closed completely on Christmas and New Year’s Day.

Here’s a look at what’s out there.Continue Reading

What You Can Buy: 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.Continue Reading

1645 Pacific: Old World Design with a Modern Touch

1645 Pacific: Old World Design with a Modern Touch

The brand new, 39-unit condo project at 1645 Pacific is officially one of my favorite new developments on the market. I toured the building this week and was impressed with developer Grosvenor America’s and Richard Beard and BAR Architect’s efforts to construct a building inspired by the old world design that’s pervasive among many homes in Pacific Heights, Russian and Nob Hills.

The nice thing about the building is that it doesn’t look like it was transplanted from SoMa, and fits in with the neighborhood’s character. From the sculptures that adorn the facade, to wrought-iron balcony rails and pre-war design elements, 1645 Pacific looks as if there was some real thought put into the overall design. The lobby has high ceilings and grand chandeliers, and all floors are serviced by an elevator. There will also be a concierge/doorman, secured bike storage, a car-sharing service and common rooftop terrace with sweeping views.Continue Reading

Get in touch:

Eileen Bermingham

Zephyr Real Estate


BRE# 01352627

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