Off-Market Opportunity: 1BR at The Hayes

Off-Market Opportunity: 1BR at The Hayes

Two of my Zephyr colleagues let me know about a cool one-bedroom/one bath condo that they have available. The property will go into the MLS next week, but the seller is open to an offer before then.

This 746 square foot condo is on the third floor and is an interior corner unit with an open floor plan. It has upgraded LED lighting, bamboo floors, and closet organizers by Elfa and California Closets. A large deeded patio is accessible from the living room and bedroom. HOA dues are $573.86/month. Continue Reading

Bernal Microhood Update: Big Northwest Slope Overbids, Good Value for East Slope Homes

Bernal Microhood Update: Big Northwest Slope Overbids, Good Value for East Slope Homes

The Northwest Slope microhood in Bernal Heights was a hit with buyers willing to pay hundreds of thousands over the list price to “win” their property in the last quarter of 2017. And those looking for solid value got lucky in the East Slope, where newly renovated homes sold at much lower prices than elsewhere in the neighborhood.

As my regular readers know, I created the Bernal Heights microhoods four years ago to help prospective buyers and sellers get a more refined sense for single-family home values in the neighborhood’s distinct geographical areas.

Here’s how our microhoods stacked up in the fourth quarter of 2017:

Northwest Slope
Single-Family Home Median Price: $1,510,000
Most Expensive: 18 Prospect (4BR/3.5BA, 3565 sq ft | $3,500,000)
Least Expensive: 75 Winfield (3BR/2BA, 1650 sq ft | $1,250,000)
# Homes Sold: 9
# Overbids Above 25%: 7
The Northwest Slope stood out among all the microhoods in the last quarter for having the widest gap between list and sale prices. Buyers overbid by 30% or more ($300,000-$500,000) on six of the nine houses sold, including 251 Bocana, a 3BR/2BA home listed for $1,159,000 that closed for $1,635,000. Lot value remains unsurprisingly high, as well, as the sale for $1.8M for the double-wide lot at 15 Prospect proved. Continue Reading

Why Price-Per-Square-Foot Is a Shaky Data Point

People love to talk about the price-per-square foot when comparing San Francisco property values. There’s also a tendency to reference this type of information when making a decision about how much to pay for a home.

But I don’t recommend using price-per-square foot as a reliable data point, because it has its flaws.

The bottom line is that there’s no standardized square footage source. So square footage quoted in the MLS and marketing materials is typically based on either tax records or past seller appraisals. Continue Reading

Buy the Right Insurance for Short-Term Rentals

The legalities are a work in progress when it comes to short-term rentals in San Francisco. But if you’re leasing any part of your property for fewer than 30 days via a site like airbnb, it’s critical to have sufficient insurance.

Though Airbnb guarantees up to $1M for property damage, there’s no coverage for an extremely important item—personal liability. If a guest is injured on your property, you’re on your own.

What you need to have in place is a vacation rental policy, which includes coverage called “personal injury,” says Roger Larson of Larson Insurance Brokers/TWFG Insurance Services. This protects you if a short-term tenant is injured during his or her stay. Larson says that many property owners assume they’ll be covered for personal liability on their existing policy. But liability on a primary home policy doesn’t cover any type of rental exposure. 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

Here Are My SF Real Estate Predictions for 2018

Here Are My SF Real Estate Predictions for 2018

I recently hauled out my crystal ball to take a shot at predicting what will be happening in the San Francisco real estate market in 2018.

One thing’s for sure: I’m ready to help lots of new buyer and seller clients, so don’t hesitate to get in touch if you’d like to work together this year. In the meantime, here’s what I think you can expect over the next 12 months: Continue Reading

Mission’s 1188 Valencia Half Sold Out

Mission’s 1188 Valencia Half Sold Out

Home buyers have given the Mission’s 1188 Valencia condo development a warm welcome, snapping up half of its 49 units since the project came online in December.

I stopped in to see the remaining inventory on broker tour this week, and wasn’t surprised to hear about the rapid-fire sales progress. As far as location goes, it’s a slam dunk on the corner of 23rd and Valencia—near BART and everything else along the Mission’s most popular retail corridor. 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

Just Sold: 131 Hancock

Just Sold: 131 Hancock

My two-bedroom condo listing at 131 Hancock in Eureka Valley just closed this week, a nice way to start off the new year.

We came on the market in early December listed for $1,195,000. The holiday season didn’t slow us down, as hundreds of buyers came through. We ended up with five offers after our two-week marketing campaign, and the transaction sailed through the holiday obstacles without a hitch.

I’m happy to say that we closed escrow for $1,450,000. Much thanks to Marco Carvajal at Vanguard Properties, Tony Alencar with Citibank, Paula Siegel at Fidelity National Title and Jeffrey Senkir of Senkir Design for all their efforts. And congratulations to the buyer and my seller clients!



Eileen’s Sold Properties
131 Hancock
Eureka Valley
Victorian Condo
Sold: $1,450,000
Represented Sellers

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

Happy Holidays! See You in 2018

Happy Holidays! See You in 2018

It’s that time of year, when San Francisco real estate shuts down as much as it ever will. My 131 Hancock listing is firmly in contract and I’m teeing up to work with lovely buyers and sellers in 2018.

Thank you for making Inside San Francisco Real Estate one of your regularly read blogs. I wish you a wonderful holiday season and a very happy, prosperous 2018. See you in early January!

5 Ways to Avoid Holiday Home-Buying Closing Delays

The race is on: You just got into contract in December, and are aiming to close by the end of the year. On top of the usual tight deadlines spurred by the competitive San Francisco real estate contract, you now have to dodge multiple bank holidays and everyone’s vacations to wrap up your escrow.

Ho, ho, ho. If you’re not prepared to jump on the fast track to completing your purchase, drama can ensue.

Here are five ways to avoid major closing delays between now and the end of 2017: Continue Reading

Limited Inventory in Holiday Home Stretch

We’re truly coming to the end of the line for 2017 real estate offerings. A look at what’s out there reveals very little inventory in well-established, popular neighborhoods in the more central parts of the city. But there are houses and condos available; you just need to know where to look for them. Continue Reading

Get in touch:

Eileen Bermingham

Zephyr Real Estate


BRE# 01352627

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