Category Archives: Market Insights

Just Listed: Sweet Crocker Amazon Home

Just Listed: Sweet Crocker Amazon Home

My new listing at 73 Florentine is simply adorable. Built in 1925, the home has lovely period details like coved ceilings and picture rails. The gracious living room has multiple windows and a wood-burning fireplace, with an adjacent formal dining room separated by attractive leaded glass doors.

The bedrooms are spacious and there’s a bonus sunroom that overlooks the peaceful garden. Relax on the deck or dine alfresco outside while you’re surrounded by a lush variety of trees and plants. There’s a one-car garage with plenty of space for storage and work/hobby areas. List price is $995,000.

Check out our property Web site here for more photos and details.

We’ll be open this weekend on Saturday from 1:00-3:00 and Sunday from 2:00-4:00. Stop in and see me!

HowLoud: Great for Noise-Sensitive Home Buyers

HowLoud: Great for Noise-Sensitive Home Buyers

One of the more interesting sites I’ve come across is HowLoud. It’s a great tool for noise-sensitive buyers who want a larger, data-driven perspective on how loud a particular location is.

You can type in an address and get the SoundScore, which aggregates noise from cars and plane traffic and other “local sources.” You end up with a number from 50-100 (the lower the number, the louder the location) that rates the noise level at a given property. Continue Reading

Just Sold: 171 Wawona and 1153-55 Florida

I’m proud to announce two closings late last week:

171 Wawona
West Portal
3BR/2.5BA, 2 pkg
Sold: $2,300,000

My clients are thrilled with their purchase of 171 Wawona, a gracious home in the heart of the highly desirable West Portal neighborhood. The house has three bedrooms and two bedrooms on the upper level, with a large primary suite. There’s a remodeled kitchen and open living/dining room. Continue Reading

30-Year Fixed Loans Now Available for TICs

Tenancy-in-common (TIC) loans are no longer limited to adjustable-rate terms. It’s official: You can now get a 30-year fixed loan.

Part of the reason fractional loans haven’t moved beyond adjustable-rate mortgage (ARM) products is because the idea behind TICs was to condo convert in a few years. So you’d end up refinancing out of the TIC loan, anyway. Plus, the handful of TIC lenders out there wanted to limit their exposure in the riskier fractional financing market.

But condo conversion has long been suspended for buildings with three or more units, so that aspect isn’t really relevant anymore. And fractional loans have turned out to be successful for lenders, as there haven’t been many loan defaults among the well-qualified buyers who meet the lender guidelines for income, credit and assets.

Lenders are obviously now comfortable offering a longer fixed-rate term, and TIC owners, in turn, seem to be staying in their properties as long as condo owners do—-in many cases, beyond three or five years.

So for those who are wary about being exposed to a higher interest rate after an ARM adjusts in the future, a 30-year fixed TIC loan could be a good fit. Continue Reading

Just Listed: 400 Beale #1211

Just Listed: 400 Beale #1211

I’m proud to present my 2BR/2BA South Beach condo at 400 Beale #1211 in the BridgeView. This lovely condo has bridge and water views and is conveniently situated near the Embarcadero, Woodlands Market, Ferry Building, Chase Center, Oracle Park, Caltrain and freeway access.

#1211 features an open living/dining/kitchen floor plan, along with a spacious primary bedroom with balcony, large closet and en suite bath. The second bedroom with its French doors is perfect for guests or an office. This unit has a dedicated storage locker, in-unit laundry closet and one-car parking.

BridgeView has always been one of my favorite buildings in the neighborhood. It has a host of useful amenities like a 24-hour concierge, heated outdoor pool, well-equipped gym, and sky deck with multiple seating areas and two BBQs.

Check out our property Web site here. List price: $995,000.

We’ll be open Saturday 8/14 and Sunday 8/15 from 1:00-3:00. Stop in and see me if you’re in the neighborhood!

Mask Up for Real Estate Showings

Mask Up for Real Estate Showings

It’s official: Everyone is requested to wear a mask at open houses, broker tours and private showings.

San Francisco real estate typically mirrors city and state guidelines, and masks are no exception. Unfortunately, not everyone is choosing to get vaccinated and the latest virus variant is surging.

I’m simply grateful that we can continue to have open houses and broker tours. That wasn’t the case for more than a year. I’m additionally thankful that we don’t have to get Covid-related paperwork prior to entering properties.

So mask up! And get vaccinated if you haven’t done so already.

Sunset and Parkside Command Top Dollar

Sunset and Parkside Command Top Dollar

Buyers continue to snap up homes in the west part of the city at a rapid pace, a trend that started as far back as 2016 but has picked up speed ever since.

Sales in the Sunset and Parkside escalated during Covid as the need for private space and yards increased. The average two-bedroom house in the Sunset/Parkside is now $1.6M, with three bedrooms clocking in at $1,741,000. Continue Reading

Buyers Target SF Condos in May

Buyers Target SF Condos in May

Here’s how things shook out in the condo market last month:

Average Price: $1,365,896
Median Price: $1,230,000
Average Price Per Square Foot: $1,114
Days on Market: 36
Average Overbid: 5.87%
20%+ Overbids: 32 (8.8%)

My Take: The San Francisco condo market made a strong showing in May, with a similar number of sales and a slightly higher average sale price compared to April. Buyers shied away from massive overbids, with fewer than ten percent of condo sales involving overbids of more than 20%. The largest overbid was for a Bernal condo at 1593 Treat (see photo), one of two condos in a duplex that went on the market simultaneously. The 2BR/1BA, 1130-square foot unit was remodeled, had in-unit laundry and two-car parking and sold for $1,510,000—$515,000 over the list price. Its 3BR/2BA, 1760-square foot top-floor counterpart at 1595 Treat had similar results. Listed for $1,495,000, the unit closed for $1,995,000. Chalk one up for the continued popularity of condos in smaller buildings with all the amenities. [Photo courtesy of Kindred SF Homes]

Single-Family Home Market Soars in May

Single-Family Home Market Soars in May

May numbers are in, and the San Francisco single-family home market made an extremely strong showing last month.

Here’s a snapshot of what went down:
Average Price: $2,429,760
Median Price: $1,892,500
Average Size: 2,168 sq ft
Days on Market: 21
Average Overbid: 12.62%
20%+ Overbids: 102 (40%)

My Take
Buyers swarmed around the house inventory in May, with most homes selling for over the list price and going straight to pending with no contract contingencies. Seven homes sold for 45% or more over asking, with the prize going to the Parkside’s 2050 20th Avenue (see photo). The updated, two-bedroom house listed for the catch-all $995,000 price garnered tons of offers and sold for $1,660,000—66% over asking. The Sunset, Parkside and other neighborhoods west of Twin Peaks continued to go gangbusters as buyers sought houses with more space and yards. [Photo courtesy of Compass]

Just Sold: Noe Valley Cottage Condo

Just Sold: Noe Valley Cottage Condo

We just closed yesterday on my Noe Valley cottage at 210 Valley #A. Situated in Upper Noe near Muni, restaurants and retail, this condo cottage attracted a large number of showings. Our buyer ended up being a gal who grew up in the neighborhood and was currently renting a cottage nearby. Talk about finding the right fit.

210 Valley #A sits at the rear of the lot and is part of a three-unit HOA. The property is perfect for having a bit more privacy than the typical condo that shares walls with another unit. And there’s plenty of potential to develop further, add a parking space or just enjoy the space as is.

This 2BR/1BA home closed escrow for $1,075,000.

Congrats to my sellers, and best wishes to the new owner!

Open Houses Return in San Francisco (!)

I’m happy to report that San Francisco Realtors can once again host public open houses.

Our local Realtor Association announced late last week that we can resume holding opens for the first time since March 2020. We’re required to follow Covid safety protocol that requires all entrants to review and sign an Open House and Showing Guidelines disclosure, which also requires providing basic contact information. Additionally, everyone must still wear masks, use hand sanitizer, practice social distancing and avoid touching surfaces in a property. Continue Reading

Just Sold: 1208 Egbert in Bayview

Just Sold: 1208 Egbert in Bayview

My client will be closing this week on a brand new home at 1208 Egbert in Bayview. Featuring three bedrooms, 2.5 baths and more than 2500 square feet, the three-level property has ten-foot ceilings throughout, lovely finishes and wood floors. 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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