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
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:
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
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
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
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
Finding a condo in San Francisco with parking can be a challenge—but two-car parking? That’s the holy grail. I rounded up a trio of condos that offer the elusive second (and even third!) parking space.… Continue Reading
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.
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
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
One of the keys to success in the current San Francisco market is knowing which neighborhoods are the most competitive. Armed with that intel, you can more easily gauge how much to offer on a property, or what list price will work to your advantage.
As many of my regular readers know, I’ve been running a feature highlighting extreme overbidding for several months, regularly inducting new members into the SF Overbidders Club. The reality is that we have many neighborhoods in San Francisco that are showing double-digit overbid percentages, and it’s important to know what the selling patterns are when you’re determining values.
When it comes to the San Francisco market, these patterns can change pretty quickly. My sales data is based on reported MLS sales in the time period April 1 – May 12, 2014, so it’s the most current info available. … Continue Reading
San Francisco properties with views of the hills, city skyline, ocean or Bay command a premium. The whole “million dollar view” tag line really does ring true for some homes.
And when it comes to condos in centrally located neighborhoods, views are the icing on the cake. View condos certainly fall under the “luxury” category, and they’ll typically cost above the $1M average for a two-bedroom unit.… Continue Reading
Let’s say you have roughly $3.6M to spend on a single-family house. Would you spend it on a home in Pacific Heights—or the Mission?
You can’t find two more different neighborhoods, quite honestly. Pacific Heights is synonymous with mansions, Bay views, well-manicured streets, and its popular Fillmore retail strip. At the other end of the spectrum is the Mission, with its edgy feel, hip restaurants and penchant for street activity.… Continue Reading
The high-end, luxury market in San Francisco (sales of $2M+) hasn’t pulled any fast ones so far in 2013. As is typical for homes in this range, Spring and Fall have seen an increase in volume, with cash buyers unsurprisingly making their rounds.
A total of 269 houses sold citywide for $2M+ in the time period January 1-October 21, 2013. And buyers for 13 of those properties paid cash. Eight of the total homes sold changed hands for $10M+.
On the condo front, 93 units sold for $2M or more, with 24 selling in cash transactions. … Continue Reading
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
A one-bedroom condo is typically not the ideal home. Who doesn’t want an extra room for guests or an office? But as prices escalate in San Francisco, first-time home buyers are finding that they can work with a one-bedroom unit, as long as it has reasonable space, isn’t tenant occupied, has affordable HOA dues, parking, and is located in a good neighborhood that’s central to retail areas and public transportation.
I set out to find some properties that meet this criteria and which I think are well worth considering for buyers in the $500,000-$700,000 range:… Continue Reading