Category Archives: Condos

What The Heck is HO-6 Condo Insurance?

You might have HOA insurance coverage when buying a condo, but you have to purchase your own “walls-in” coverage during escrow.

Lenders require what’s known as HO-6 insurance. Otherwise known as hazard or individual unit coverage, HO-6 insurance provides personal property and liability coverage for whatever happens within your unit’s walls. Continue Reading

The Best Way To Screen Condos Before Scheduling a Showing

The real estate community is still working within corona limitations when it comes to showing property. Open houses won’t be returning anytime soon. Home-buying is all about qualified, ready-to-write-an-offer buyers who thoroughly screen homes via virtual tours with their agent prior to even thinking about seeing the property in person. Continue Reading

What You Can Buy: With Outdoor Space

The shelter in place has done its part to help many prospective buyers realize that they want outdoor space in their next home. The thought of having a garden or a big deck sounds extremely appealing right now.

I’ve rounded up some homes that have lovely exclusive-use outdoor space. Give me a shout at eileen@insidesfre.com | 415.823.4656 if you’d like to see any of these in person:

375 Moncada
Ingleside Terrace

5BR/3BA, 2 pkg
$2,495,000


375 Moncada is a big Mediterranean-style house with a landscaped front yard and sprawling rear garden. The kitchens and baths could use updating, but the home is certainly in move-in condition. And when Stonestown Galleria opens again, you’ll be in walking distance. (Photos courtesy of Keller Williams Realty) Continue Reading

Meeting Minutes Key in Evaluating HOA Financials

Most condo associations in large buildings have a homeowners association (HOA) board or general membership that meet at least annually to discuss and vote on a variety of items. One of the most important aspects to note when evaluating a condo HOA is whether there are any upcoming, approved expenditures.

Upcoming special assessments are always the big question, but you shouldn’t stop there because those assessments won’t be dipping into the current reserve account. A portion of HOA dues typically goes to the reserve account so there’s some money on hand. Lenders like to see healthy reserves in larger buildings, and having good reserves means the HOA won’t immediately be hit up for a special assessment if, say, the roof needs to be replaced. However, it’s not always evident based on the other disclosure documents whether a large expense is imminent. Though there’s a condo financial disclosure, it only asks about upcoming special assessments. Continue Reading

Q1 2019 Quick Fix: The Latest on House and Condo Sales

We’re in the midst of the busy Spring market, and everyone is referencing comparable sales from the first quarter of 2019. Sellers are using this information to price their homes, and buyers are basing offer prices on this data.

Here’s a rundown on how things shook out in the first quarter:

Single-Family Homes
# homes sold 382
Average price $1,911,273
Avge price per square foot $959
# cash sales 59
Most cash sales happened in: Eureka Valley, Pacific Heights, Bernal Heights, Noe Valley
# homes sold for $1M or less 59
Most competitive neighborhoods (25%+ overbids) Outer Parkside/Sunset; Parkside; Central Sunset; Eureka Valley; Potrero; Portola; Mission Terrace
Craziest overbid 3825 19th Street at Church, right at Dolores Park. This mid-century 4BR/3BA, 2360-square foot house has two-car parking and multiple outdoor spaces. List price: $2,995,000 | Sold: $3,500,000 Continue Reading

Top 10 HOA Issues in Condo Sales

You’ve finally found a great condo to buy that hits on all your preferences, is in a good location and has affordable homeowners association (HOA) dues. Now it’s time to review the disclosures, particularly when it comes to the HOA. What restrictions exist or could lead to potential problems?

Here are my top 10 HOA issues to vet when it comes to condo living:

1. Flooring restrictions.. Are there serious restrictions against having hardwood floors? In most cases, HOAs require that owners cover a certain percentage of hardwood floors with area rugs or carpet. But some HOAs mandate that bedrooms have wall-to-wall carpet. If this isn’t your thing, make sure you know about it before you write an offer. Continue Reading

The ABCs of HOAs

The ABCs of HOAs

Condos are a popular option for many home buyers in San Francisco. Prices for condos are more affordable, and there’s less upkeep involved. For busy professionals, condos are generally a better fit than single-family homes.

The residents within a condo building are part of a homeowners association (HOA). In larger buildings, there’s usually an HOA board, too. These entities make decisions about the property with respect to expenditures, special assessments and other issues that arise. Continue Reading

Budget for HOA Dues During Loan Preapproval

You’re thinking about buying a condo in San Francisco, and the first thing on your checklist is loan preapproval. Along with mortgage payments and property taxes, your lender tells you that you need a rough idea of how much your homeowners association dues (HOA) will be. But you don’t know what you’ll be buying, so how are you supposed to know how much the dues will be? Continue Reading

What’s Selling Now: New Construction Condos

The new construction condo market is constantly changing as new properties hit the market, developers revise pricing, and projects simply sell out. It can be a part-time job keeping track of available inventory throughout San Francisco.

I’ve rounded up my favorite new developments currently selling condos. And if you’re interested in scheduling a tour, don’t hesitate to get in touch . I’m not on the sales teams for any of these developments, but can represent you independently. This means I can get you started with a loan preapproval and walk you through the contract and the entire process—looking out for your best interests.

Here are your best bets for new construction condos right now:
One Mission Bay (110 Channel)
Neighborhood: Mission Bay

Current Inventory: 80 units of 350 available
The Prices: Studios from $575,000; 1BRs from $725,000; 2BRs from $1,250,000; 3BRs from $1.7M
Avge Price Per Square Foot: $1,237
HOA Dues: $622-$825/month
The Perks: Resort-style deck; pool, spa, cabanas and fire pit; resident lounge; library
Buy If: You’d like top-tier amenities and want to be in the midst of a constantly developing neighborhood that’s now on track to be the future home of the Warriors
Developer: CIM Group Continue Reading

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

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

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

What’s Selling Now: New Construction Condos

It can be mind numbing trying to track sales of the more than 1,000 new construction condos currently on the market. After all, there are more than 17 projects actively selling units in a variety of neighborhoods, and sales offices play things close to the vest. You’ll find a limited number of units listed on real estate Web sites; pricing is typically not public and changes continuously based on the most recent sales.

So if you’re drawn to brand new condos, where do you begin to look? With the help of my company, Zephyr Real Estate, I pulled together the vital deets on some of my favorite projects. Note: I am not on the sales teams for any of these projects, but can represent you independently. This means I can get you started with a loan preapproval and walk you through the contract and the entire process—looking out for your best interests.

So check out what’s on tap, and give me a shout if you’d like to explore your options within any of these projects:

201 Folsom (Lumina)
Neighborhood: South Beach

The Homes: 656 condos that are selling quickly
The Perks: Club lounge, private dining room, rooftop terrace, concierge, business center, children’s and game rooms, music practice room, pool, fitness center, spa, pet grooming station, screening room and market
What’s Left: Fewer than 300 units, project is 85% sold and they are now on their last release in Building B. Corner units are in short supply.
The Prices: 1BRs: $1,000,000-$1,700,000; 2BRs: $1,500,000-$3,000,000; 3BRs: $3,100,000+; penthouses: $8,000,000+
Buy If: You are looking for a luxury building with A+ amenities and views
Developer Tishman Speyer Continue Reading

What You Can Buy: Condos That Live Like Houses

The single-family home market is currently crawling with buyers, and inventory is at a low level for the number of prospective purchasers. Single-family home buyers need to be creative and flexible when it comes to landing the right dwelling, which sometimes translates into considering other types of properties.

Condos with unique, house-like features are out there—from detached Victorian cottages to two-level units. Here are a few homes that are technically condos, but that live like houses and are located in popular, walkable neighborhoods. Here are just a few I’ve seen recently:

75 Wood
Jordan Park/Laurel Heights

4BR/2BA, 1500 sq ft
Leased parking @$300/month available
$1,295,000

The Deets: 75 Wood is one of two cottages, and sits on the rear of the lot. You enter through the breezeway from the street, and there’s a nice courtyard between both cottages. The main level has two bedrooms and the living spaces, and the lower level is connected via spiral staircase and includes another two bedrooms and bath, as well as an office area. Improvements include new foundation, electrical, plumbing and roof. There is also a huge, undeveloped attic, which definitely has possibilities given that this is a standalone building and wouldn’t require messing with a unit below you when it comes to structural work. Though there’s no garage, street parking is not bad and there is also leased parking available nearby.
The Location: Commanding a 96 Walk Score, 75 Wood is an easy hop to the restaurants and shops along Clement and Sacramento Streets, the heart of the Laurel Village retail area, and is more or less situated between the Presidio and Golden Gate Park. Continue Reading

Top 5 Challenges For a Condo Sale

If you’re planning to sell your condo this year, it’s important to be aware of certain things that will seriously shrink your condo’s buyer pool. Here are five of the most common challenges—and some advice on how to handle them so you have a successful transaction: Continue Reading

Contact Eileen for Real Estate Help

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

Back to Top

Back to Top

Show All
Marina
Mission

There is no custom code to display.