Coming Soon and Off-Market Opportunities: April 28, 2016

Inventory is here! Here’s a heads up on properties that will hit the market this weekend—or might be snapped up before they hit the MLS:

118 Melrose / Glen Park
3BR/2BA remodeled single-family home; huge deck, garden, 1 pkg
$1,195,000

504 Joost / Sunnyside
3BR/1BA house, 2 pkg
$949,000

18 Colonial Way #8 / Misison Terrace
3BR/2BA top-floor condo, views, good light
$829,000

125 30th Street / Glen Park
2BR/1BA Edwardian flat, 1 pkg
$899,000 Continue Reading

What You Can Expect To Spend When You Sell

Your property presentation will largely dictate how much buyers will pay when you’re selling your home.

Today’s buyers are discerning, and expect a certain level of sparkle when they go to an open house. Want to improve your chances of getting top dollar? Don’t cut corners on the prep work.

Most homeowners aren’t aware of the average costs for fundamental prep work. The bottom line: You can expect to spend $10,000-$20,000 if your property needs a little of everything. I thought I’d round up the must-do prep work with average costs, based on all the listings I’ve readied for sale over the past several months. Cost ranges are based on a two-bedroom house or condo with 1200-1400 square feet. Prices go up or down, depending on the size of your space and how much work is needed. Continue Reading

Houses Hot, Condos Cold in Q1 2016

The single-family home market went bonkers in the first quarter of the year, but the condo market showed signs of softening.

A look at sales data from the past quarter is a great indicator of how the Spring market will do. Here’s how 2016 is stacking up so far:

Single-Family Homes: Buyers Embrace Overbidding
The average price of a house in the city stood at $1,683,935, up seven percent over Q1 2015. Though the average overbid citywide was 9.6%, a whopping 22% of all houses sold changed hands for 30% or more over their list prices. Continue Reading

It’s Up From Here for Interest Rates

San Francisco real estate buyers can expect gradually increasing loan interest rates over the next few years, says Bank of the West’s Chief Economist, Scott Anderson.

I was invited to hear Anderson present his Bay Area forecast at Bank of the West’s downtown San Francisco offices last week. He believes the Fed is at a point where it wants to raise rates, but it will be at a “slow slog” pace. Anderson’s prediction? There will be two rate hikes this year—one in June, and another after the election—followed by four in 2017 and another four in 2018. Continue Reading

Flippers Push Prices Past $1M in Crocker Amazon

Crocker Amazon is one of the few neighborhoods in San Francisco where you can buy a home for under a million dollars. Not as well known as its Excelsior or Bayview counterparts, Crocker Amazon seems to be gaining in popularity—and price. Two recently renovated properties just hit the market that promise to further cement what’s becoming a higher price threshold for the area.

The average single-family home in Crocker Amazon now costs $849,000, and two three-bedroom homes sold in the past few months for $1,125,000 and $1,135,000. A majority of recent sales were in the $800,000s, with a handful in the $900,000s. This is a big jump up from 2014, when only one four-bedroom house on Winding Way sold for just above $1,000,000, and homes were selling for a $735,000 average. Continue Reading

Sellers Need Lead Time in Spring Market

Allow yourself enough lead time for pre-sale work if you’re planning to sell your San Francisco home in the Spring.

Though some future sellers start strategizing in January or February, others wait until April or May. At that point, painters, stagers, contractors and other critical tradespeople may be booked well in advance. Continue Reading

58 Ellsworth
Bernal Heights

Victorian Cottage
Sold: $1,200,000
Represented Buyer

Just Sold: 58 Ellsworth in Bernal Heights

Just Sold: 58 Ellsworth in Bernal Heights

Congrats to my clients who close today on this lovely Victorian single-family home in a prime Bernal Heights location!

58 Ellsworth is ground zero for indoor-outdoor living at the top of the hill. The kitchen leads right out to this amazing yard, complete with fire pit and hot tub:
58ellsworth_yard

The living room has a box-beam ceiling and fireplace, and is adjacent to the large dining area and well-appointed kitchen. Best of all, 58 Ellsworth is located only two and a half blocks north of Cortland—and just below Bernal Hill. You get access to the trails and bucolic setting, yet are a quick walk away to the restaurants, shops and conveniences on Cortland.

310 Missouri
Potrero Hill

Victorian Condo
Sold: $1,290,000
Represented Seller

Coming Soon and Off-Market Opportunities: April 6, 2016

I’m seeing a lot more new listings coming on the market this week as we ease into Spring! Here’s a heads up on properties that will hit the market this weekend—or might be snapped up before they hit the MLS:

719 Avalon / Excelsior
3BR/2BA house with bonus room and bath down, 1 pkg
$849,000

5140 Diamond Heights Blvd #A303 / Diamond Heights
1BR/1BA top-floor condo facing rear gardens, 1 pkg
$599,000

147 Precita / Bernal Heights
5BR/3BA house with in law, 2 pkg
$1,700,000-$1,800,000 range

685 Peralta / Bernal Heights
3BR/2BA house with Bay views, 1 pkg
$999,000 Continue Reading

148 Duncan
Noe Valley

Edwardian Condo
Sold: $1,080,000
Represented Seller

Underpricing Strategy Still Works for Sellers

Underpricing Strategy Still Works for Sellers

If you’re a homeowner who’s about to list your San Francisco property this Spring, have no doubt about where to set your list price: Well below the sale price you’re seeking.

If there’s any doubt that underpricing is the best way to jack up your value, take a gander at how things played out at 1812 Church Street. The 2BR/1BA single-family home on the border of Glen Park and Noe Valley was first listed for $1,495,000 in mid February. When no buyers materialized after two weeks, the price dropped to $995,000. A week later, the house went into contract with no contingencies, and closed on March 18th for $1,445,000. Continue Reading

647 Athens
Excelsior

Large Renovated House
Sold: $1,050,000
Represented Buyers

Spring Break for This Blogger

Time for a real estate Spring break!

I’ll be back in early April refreshed and ready to tackle what’s shaping up to be a busy San Francisco Spring market.

Thanks for your continued readership.

Just Sold: Big Excelsior House

Just Sold: Big Excelsior House

I’m happy to report that my clients just closed on a great single-family home on a nice block in the popular Excelsior neighborhood.

647 Athens is a 3BR/2BA, fully detached home with almost 2,000 square feet and a one-car garage. Built in 1912, the house has been updated and includes a large kitchen with island, as well as a family room downstairs. Listed for $799,000 the seller received multiple offers, but we prevailed in a multiple counter offer situation. Continue Reading

Get in touch:

Eileen Bermingham

Zephyr Real Estate

415.823.4656

ebermingham@zephyrsf.com

BRE# 01352627

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