Category Archives: Market Insights

Just Listed: Miraloma Park Urban Retreat

Looking for a stylish, comfortable single-family home in San Francisco? My new listing at 250 Los Palmos Drive is a good possibility for you.

This turnkey residence has all three bedrooms on the main level, along with open living/dining/kitchen space and full bath with skylight. Off the rear primary bedroom is a walkout deck that overlooks the naturally landscaped hillside garden.

Downstairs is a beautifully finished family room with built-in projector for streaming movie nights, as well as a wet bar with Sub-Zero beverage refrigerator and bespoke cabinetry. There’s a full bath with black and white tile work, shower and towel warmer. Enclosed in custom cabinetry, the LG side-by-side washer/dryer is also located in this generous lower space.

The yard has a hot tub with lighting scheme and is a nice place to unwind. Finished garage with one-car parking, workout area and plenty of storage round out this beautiful home.

Miraloma is a popular neighborhood with home buyers these days, as it offers easy access to a variety of schools, hiking trails, Mollie Stone’s, freeways, and more.

List price is $1,295,000. Visit our Web site for photo gallery, 3D walkthrough tour, video with drone footage and floor plan at 250lospalmos.com!

Just Listed: Noe Valley Victorian Top-Floor Condo with Incredible Gardens

Just Listed: Noe Valley Victorian Top-Floor Condo with Incredible Gardens

Looking for a top-floor condo in a charming Victorian building situated on an enormous lot with a wrap-around garden? My new Noe Valley listing at 241 Duncan has all that and more.

Perfect for working from home and enjoying rarely available outdoor space, 241 Duncan features two bedrooms plus office/guest room, one bathroom, spacious kitchen with built-in dining area and high-end appliances and a private walk-out deck with peaceful outlooks. Here are a few pics:

The garden has plenty of room for socially distanced gatherings, fountain, chicken coop and a huge date palm.

It’s not often you see a condo building detached on three sides, and that means plenty of natural light through the tall windows. And the high ceilings add to the airy feeling throughout.

Check out our Web site here, which has a 3D walkthrough tour, floor plan, complete photo gallery and more.

List price is $1,295,000.

Big Condo Overbids Return in 2021

Big Condo Overbids Return in 2021

Condos with two or more bedrooms, all the amenities, and desirable neighborhood locations are currently very much in demand by San Francisco buyers. As a result, there are increasing numbers of large overbids and sellers receiving many, many offers.

You’ll read about this trend a couple months from now in the mainstream media, but I am officially seeing the return of the list-low, sell-for-more pricing strategy for these properties.

A look at February’s closed and pending condo sales point to a trend in rising buyer demand for condos in popular neighborhoods near parks and retail areas. A condo that also features an exclusive-use outdoor space is at the top of everyone’s list. Even better if that condo is remodeled, and has two bathrooms, in-unit laundry and parking. Continue Reading

Condos Heading for Property Tax Break?

The San Francisco Assessor’s office may be on track to consider reassessing condos that may have lost value since the pandemic hit, reports the San Francisco Business Times.

The city is currently surveying large commercial property owners this month about how their rents and expenses have changed in the past year. The assumption, according to the Business Times, is that office buildings saw a reduction in revenue in 2020.However, this data review effort may also extend to condos if it becomes clear that such properties have lost value. Continue Reading

Be A Strategic Buyer in a Tight Inventory Market

It’s easy to put your home search on auto pilot, looking constantly at online search sites for the latest new listing. But if you’re seeking a single-family home in San Francisco, it will become quickly obvious that there’s a low inventory of houses—and you have to do more than just wait for new listings.

Home buyer tip: Don’t bypass existing listings that may be spending more time on the market than their owners would like. These homes could be opportunities for buyers to avoid overbidding and competitive offer situations. If a house has been on the market for 30 days or more, it means that seller will likely not be seeing crazy overbidding and multiple offers. And there may also be room to negotiate a lower price. Continue Reading

Prop. 19 Changes Inheritance Tax Rules

Prop. 19–which won voter approval in the November election–changes the game for children inheriting property from their parents. Effective this February 16th, Prop. 19 will disqualify transfers of business property, rental buildings and other property that’s not the “family home” from reassessment protection.

Additionally, for transfers of their principal residence from parents to their children, the property tax base will be reassessed unless the children meet residency requirements and the market value isn’t more than $1 million higher than the tax base value just before the transfer. Continue Reading

Median Condo Price Down, Houses Up in December 2020

The latest numbers are in: Single-family homes were the overall winner during the holidays in San Francisco.

The median condo price was $1.1M last month, down from $1.2M in December 2019. There were 672 active listings last month compared to 1209 in November. This signals that properties either went into contract with an end-of-the-year urgency, or agents temporarily withdrew listings. Interestingly, the condo days on market (DOM) didn’t dramatically fluctuate; the DOM last month was 44, up from December 2019’s 39. Continue Reading

Happy Holidays, See You in 2021!

Happy Holidays, See You in 2021!

The year is winding down, and I am ready to leave 2020 behind like everyone else.

Thank you for making Inside San Francisco Real Estate one of your regularly reads. And much gratitude to those who found me online, got in touch and gave me the privilege of working with you to achieve your real estate goals this year.

I wish you all a safe, happy & healthy holiday season. See you in early January!

No Change To SF Real Estate Restrictions With Latest Lockdown

The San Francisco Realtor Association (SFAR) has confirmed with the Mayor’s Office that agents can continue to physically show property during the stay-at-home order that’s now in effect through at least January 4, 2021.

Here are the specifics for real estate as per San Francisco’s order:
“Service providers that enable real estate transactions (including rentals, leases, and home sales), including, but not limited to, real estate agents, escrow agents, notaries, and title companies, provided that appointments and other residential real estate viewings must only occur virtually or, if a virtual viewing is not feasible, by appointment with no more than two visitors at a time residing within the same Household and one individual showing the unit (except that in person visits are not allowed when the occupant is present in the Residence).”

SFAR put its own showing orders into place after the shelter-in–place (SIP) earlier this year. This was a must, as most buyers will not purchase a home without seeing it in person. And we never lifted those restrictions, meaning we haven’t had open houses, broker tours or large-scale showings since the SIP began. We’ve also had strict safety showing protocols in place since April.

Holiday Home Stretch Condo Inventory at Peak

I started blogging several years ago about what I call “the holiday home stretch”—the time right after Thanksgiving through Dec 31st.

2020’s holiday home stretch is finding condo inventory at possibly the highest level ever, with 930 condos currently available. Compare that number to what was on the market in the same timeframe in 2014 (81), 2015 (241), 2016 (411), 2018 (417) and 2019 (388). We are literally swimming in condos in the city. Continue Reading

Welcome To The 2020 Holiday Home Stretch

2020 has been a year like no other, but I’m willing to bet that motivated buyers and sellers will follow their usual holiday season activity pattern. Buyers will aggressively write offers and try to negotiate, and sellers will be more willing to negotiate so they can wrap up their sale before year end.

There’s a healthy amount of houses, condos and TICs on the market that all stand a chance of having to return in 2021. Here’s a quick look at each category:
Single-Family Homes
Number available: 345
Median list price: $1,890,000
Avge days on market (DOM): 59
Where the inventory is: Parkside/Sunset, Ingleside, Sunnyside, Noe/Eureka Valleys, Pacific Heights, Cow Hollow, Bernal Heights, Mission, Bayview, Visitacion Valley.
Worth noting: There are far fewer houses than condos sitting on the market, with about 40% listed for up to $1.5M. That means buyers can expect to pay $2M+ for most of the homes on the market. Continue Reading

Happy Thanksgiving!

Happy Thanksgiving!

Best wishes to all my readers for a wonderful Thanksgiving!

It’s been a challenging year on so many fronts, but I’m grateful that one bright spot was the strength of our San Francisco real estate market. I’m fortunate to have had the opportunity to help many new and existing clients buy and sell homes this year, and thank them all for their business and faith in my services.

Last but certainly not least, I want to thank all of you who regularly read my blog. It is always very gratifying to meet new people through this blog, and I look forward to meeting more of you in 2021.

Stay safe and healthy this Thanksgiving, and count even the smallest of blessings.

Prop 19 Offers New Opportunities for Tax Base Transfer

Homeowners age 55 and over have a lot more options when it comes to transferring the tax base of their principal residence to a new home.

Prop 19 prevailed in our recent election, and will let these homeowners move anywhere within California and still retain their original tax base. This benefit was previously limited to a few California “reciprocal” counties, as well as the county in which you were selling. Continue Reading

SF House Market Meets Corona Challenge

SF House Market Meets Corona Challenge

Corona may be surging again, but the virus certainly hasn’t obliterated the San Francisco single-family home market. Despite limitations on showing property (no open houses or broker tours!) and many people reportedly fleeing San Francisco for more far-flung locations, our house market remained strong and steady over the past six weeks.

The average price for the 382 houses sold was $2,022,151 (October 1-November 13), with a median price of $1,650,000. The average overbid citywide was five percent. However, 50 homes changed hands for 20% or more over the list price, proving that even a pandemic can’t seem to break our eternal list-low, sell-for-more pattern in San Francisco. Continue Reading

Contact Eileen for Real Estate Help

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

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