Category Archives: Ingleside/Lakeside

What You Can Buy in January: 30 Days & Counting

I thought I’d bring you in on one of my strategies for finding homes for my buyer clients: Look for homes that have been sitting on the market. In keeping with my most recent post about long days on market properties, this is a fun way to find homes without as much competition and overbidding.

Here are four properties that have been on the market for 30 days or more—and are worth a look:
1283 Portola
St. Francis Wood

Days on Market (DOM): 55
4BR/3.5BAs, 2498 sq ft, 2 parking
List price: $2,878,000

Here’s your chance to get into tony St. Francis Wood. This large, nicely updated home has the coveted three bedrooms on the upper level, an open kitchen/dining/family room area, and a convenient location walkable to West Portal retail. The hitch is that you’re on Portola, which is a multi-lane roadway, and you’ll hear traffic. But if you can work with that drawback, 1283 Portola may be the one for you. [Listing courtesy of BarbCo] Continue Reading

What You Can Buy: Small San Francisco Houses

Buying a small house in the city may be the route to go if your budget maxes out well below our single-family citywide average of $1.9M. Yes, I know you can find a mansion in the midwest for that price, but the reality is that there are a whole lot of folks who want to live in San Francisco. And this competition pushes many people to revisit how much space they really need within a budget they can afford.

I’ve rounded up a few new single-family home listings that I think will make excellent starter homes. They’re each in good locations within their respective neighborhoods, and offer very livable spaces:

530 Grafton
Ingleside
1BR/1BA, 664 sq ft
$725,000

Located three blocks from Ocean Avenue’s retail and Muni line, 530 Grafton is a classic condo alternative. The interior is laid out very efficiently, and there’s some space for an office area. I love the Spanish Mediterranean architectural style, and there are 1930s period details throughout. The house is built to the lot line, so the outdoor space is actually an enclosed area at the front of the house. One-car parking is also included. Continue Reading

Just Sold: Ingleside Heights Condo

Just Sold: Ingleside Heights Condo

We closed escrow on my one-bedroom condo listing at 8200 Oceanview Terrace #409. We had strong interest in this well-appointed, top-floor property, which had a den, bamboo floors, in-unit laundry and independent parking. The location was within walking distance to the BART station, and also had easy freeway access.

We listed #409 for $648,000 and received two offers. Final sales price was $665,000.

Congrats to my seller, who is now living in a larger, two-bedroom condo within Oceanview Terrace. And kudos to the new owner, his agent, John Santiago of All Bay Properties, lender Michael Lum at Wells Fargo and Connie Choy at Chicago Title. Go, team!

Think Outside the Neighborhood Box for Under $1.5M

We’re still in a super sellers’ market in San Francisco when it comes to single-family houses. And the average citywide house price, year-to-date, is just above $2M. So it takes some serious strategizing, compromising and an open mind when it comes to finding a house for under $1.5M.

What’s the key? Go beyond buyer-saturated neighborhoods like Bernal Heights, Glen Park or West Portal and hit up the less obvious areas. But make no mistake: Homes in these neighborhoods are fetching multiple offers and over-asking prices. Continue Reading

The Most Overbid House ‘Hoods in San Francisco Right Now

Buyers have had no qualms about dramatically overbidding for single-family homes in West Portal, Westwood Park/Highlands, the Central Sunset, Ingleside Heights and Miraloma Park this year.

Those neighborhoods are seeing an average overbid of 20 percent. West Portal actually had five homes sell for between 30 and 50 percent over list price this year.

The selling pattern within individual neighborhoods is a useful data point for sellers when it comes to setting a list price—and for buyers as they decide how much to offer for a property. The traditional pattern in San Francisco has been to list low and sell for more. In general, single-family homes in popular neighborhoods and at price points under $2M tend to get the highest overbids.

I did a quick analysis on the single-family home market and flagged the neighborhoods that are experiencing the highest levels of overbidding. Here are the hot spots now, according to the average overbid percentage year to date:

West Portal 22%
Westwood Park/Highlands 21% Continue Reading

Think Outside the Neighborhood Box for Under $1M

The single-family home market in San Francisco is a very competitive one, and the average price for a house is above $1M at this point in time. So it takes some serious strategizing, compromising and an open mind when it comes to finding a house for under a million dollars.

Most buyers in this price range realize quickly that if they want a house, they’ll need to go beyond buyer-saturated neighborhoods like Bernal Heights, Glen Park or West Portal. Because for every ten people who’d like to live in Bernal, there are maybe five that’ll consider less obvious and familiar areas. Continue Reading

Ingleside Settles Into $1M+ Groove

Ingleside Settles Into $1M+ Groove

Ingleside is one of San Francisco’s up-and-coming neighborhoods, but it’s coming up faster than some buyers would hope.

The neighborhood, which boasts a Whole Foods on its Ocean Avenue retail strip—along with a Muni rail line to downtown—is starting to see $1,000,000+ sales creep in. And its sales averages have steadily increased over the years. Continue Reading

Sales Volume Down, Prices Up in Q1 2015

The big news for the first quarter of 2015 is that sales volume dropped like a rock compared to Q4 2014.

But prices edged up even higher.

Bottom line: There were 41% fewer single-family home and 28% fewer condo sales in the first quarter of this year. Of course, the first quarter of any year is typically slower due to buyers and sellers recovering from the holidays. But given the frothy nature of the market right now, I would have expected a touch more volume.

Here’s a snapshot of how things went down in the two most popular segments of the real estate market: Continue Reading

Sellers Search for Build-It-Yourself Buyers

Sellers Search for Build-It-Yourself Buyers

There are at least a dozen single-family homes on the market that are being sold with approved construction permits, architectural plans, or simply positioned as “opportunities to build your dream home.”

The trend in 2015? Hand off construction to buyers, who will hopefully pay a premium for lot value and approved (or unapproved) plans. In many cases, the owners (typically an LLC or contractor) may have more pressing projects and will agree to sell if the numbers add up. Or, in the case of those selling properties without approved plans, they may be anxious that today’s market won’t be quite as strong by the time they can get plans approved and the property built. Continue Reading

The Most Competitive House Markets in San Francisco Right Now

If you’re aiming to buy or sell a single-family home in San Francisco, it’s important to take note of the selling patterns in the city’s various neighborhoods. You’ve probably read my blog post from earlier this week on the hottest condo markets, but when it comes to overbidding on houses, the landscape looks slightly different.

The neighborhoods where buyers are overbidding most intensely are varied, and there are many. Continue Reading

Think Outside the Neighborhood Box for Under $1M

The single-family home market in San Francisco is a very competitive one, and the average price for a house is above $1M at this point in time. So it takes some serious strategizing, compromising and an open mind when it comes to finding a house for under a million dollars.

Most buyers in this price range realize quickly that if they want a house, they’ll need to go beyond buyer-saturated neighborhoods like Bernal Heights, Glen Park or West Portal. Because for every ten people who’d like to live in Bernal, there are maybe five that’ll consider less obvious and familiar areas. Continue Reading

Just Listed: 2BR Ingleside Charmer

Just Listed: 2BR Ingleside Charmer

My new 2BR/1BA single-family home listing at 231 Jules Avenue in up-and-coming Ingleside just hit the market. Featuring lovely 1920s detailing throughout, the home has a living room with wood-burning fireplace. The remodeled kitchen is well-appointed, with granite countertops, window atrium, and stainless-steel appliances. Two bedrooms are at the rear of the main level and overlook the garden, which has mature fruit trees and lawn with irrigation system. Continue Reading

Up-and-Coming Ingleside A Good Bet for Buyers

Up-and-Coming Ingleside A Good Bet for Buyers

Nothing attracts home buyers more than a good, solid retail area that they can walk to from their new home. Consider all the wildly popular neighborhoods that have retail areas featuring hot restaurants, cafes, shops and services: Noe Valley, Hayes Valley, The Mission, Cole Valley, Cow Hollow, the Marina and the Inner Sunset, to name just a few. Buyers will pay dearly to be in walking distance of these strips, because if you can’t walk to anything, why live in San Francisco? Continue Reading

Where the Cash Buyer Competition Is

If you’re aiming to close on a property in 2013, it’s a good idea to size up the competition and hone your strategy at this point in the year. After all, we only have a couple months left before Thanksgiving (I know!), and inventory slows down right after the turkey leaves the table.

In very thick multiple-offer competition, the biggest wild card will be whether a cash buyer steps into the mix who’s willing to pay top dollar to buy a home. As most real estate fans know, cash sales don’t equal discounts, and cash buyers know that they have to offer a competitive price to win. 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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