Category Archives: Mission

TIC Market Stays Alive During Corona

TIC Market Stays Alive During Corona

The tenancy-in-common (TIC) market in San Francisco is a small one, with about a tenth of the condo volume at any given time. Buyers tend to shy away from TICs when there’s a glut of condo inventory, as the former are a bit more complicated. But if you’re looking for more space and a better location than your condo budget allows, you may want to consider one of the TICs currently on the market. Continue Reading

Here’s Where You Can Negotiate the Best Price on a 2BR Condo

Looking to get a good price on a two-bedroom San Francisco condo? Check out a few of the 360 two-bedroom units currently on the market in San Francisco in buildings with ten or more units. These properties have been on the market for an average of 56 days, and I’m betting their owners would love to get offers from qualified buyers.

It helps to know where to look for the best deals. The neighborhoods where these condo buildings are located are Diamond Heights, Mission Dolores, Hayes Valley, Pacific Heights, Downtown/Financial District, Nob Hill, Van Ness/Civic Center, Mission, Mission Bay, SoMa/Yerba Buena, South Beach and Dogpatch/Central Waterfront. 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

SF TIC Market: Small But Mighty

SF TIC Market: Small But Mighty

Tenancy-in-common (TIC) interests accounted for a small portion of San Francisco sales in 2019. But the average price was almost $1,300,000, and there were a fair number of luxury sales in the $2,000,000+ range.

Only 262 TICs sold in 2019—a comparably small quantity compared to the 2,530 condos sold. But the fact that there is a still a solid market for a property type that involves sharing title with other building owners speaks to the risks buyers are willing to assume in their quest to become San Francisco homeowners. Continue Reading

Condos You Can Buy Near a Retail Corridor

One of the reasons people want to live in San Francisco is to be near its collection of popular, interesting retail districts that offer a diverse array of restaurants, shops, and services. Here are a few currently listed condos that are near some of our best retail corridors in popular, walkable neighborhoods.

Here’s the lineup:
168 Eureka
Eureka Valley/Castro

3BR/3BA condo, 2 pkg
$2,250,000

One block from the 18th Street corridor and only a few blocks away from Castro Street, 168 Eureka is a sexy, spacious condo with in-unit laundry, a big master suite at the rear and direct access to the nicely landscaped garden. Did I mention two-car parking, and a 2019 Range Rover included as a gift from the seller? [Listing courtesy of Vanguard Properties.] Continue Reading

Welcome To The 2019 Holiday Home Stretch

Serious buyers hit the streets right after Thanksgiving to scoop up what’s left of the year’s inventory. Yes, there are fewer homes from which to pick. But the competition thins out because a majority of the buyer pool gets distracted by holiday activities. (Why spend Sunday going to open houses when you can get your Christmas tree, attend a party or go shopping?)

There are 185 single-family homes, 388 condos and 59 TICs currently on the market as of this writing. Here’s a quick look at each category:
Single-Family Homes
Median list price: $1,850,000
Avge days on market: 65
My pick: 1086 Alabama is an updated three-bedroom home with a large kitchen that leads to a deck and yard. There’s also expansion potential on the garage level (if you don’t need two-car parking). Convenient Mission location near 24th Street and SF General. List price is $1,795,000. Continue Reading

Cash Sales in San Francisco Drop in 2019

San Francisco real estate sees its share of cash buyers, but they’re not popping up as frequently as they used to. For the past several years, cash buyers have represented a quarter of all single-family and condo sales.

However, the percentage has dropped to 16.5% for houses and 14.6% for condos in 2019.

Having the ability to pay all cash certainly gives you an advantage as a buyer. You’ll likely get a call back in a multiple-offer situation if your offer isn’t the highest. But being able to pay in all cash typically doesn’t exempt you from having to overbid like everyone else.

Here’s how things have shaken out in 2019: Continue Reading

The 5 Best Neighborhoods for NY Transplants

I moved to San Francisco from New York twenty years ago, and frequently work with many New Yorkers who have relocated here. New York is definitely a world of its own, and I must admit that I was a bit worried when I moved to San Francisco; in my mind, I’d have to drive everywhere, and things wouldn’t be as central. After all, San Francisco’s layout is different in that downtown feels like Manhattan, but everywhere else seems like outer borough neighborhoods strung together—at least, at first. It takes some time to realize that many San Francisco areas are little New Yorks unto themselves. Continue Reading

Spring 2019’s Most Competitive Neighborhoods for Buyers

The selling pattern in San Francisco has eternally been all about listing lower than the target price, and expecting well over asking. Spring 2019 has been no different. But some neighborhoods see clusters of overbids in the 20% or more range more than others.

If you’re a buyer looking for a house or condo in the city, it’s important to know where these hot spots are so you don’t spin your wheels in areas you ultimately won’t be able to afford.

I looked at house and condo sales from April to mid June 2019 to see where the big overbids have been happening the most frequently. Continue Reading

Do San Francisco Properties Have Air Conditioning?

I remember hosting an open house circa 2003 in Noe Valley and meeting two buyers from San Diego. Their first question was whether the property had air conditioning. I smiled and told them that we didn’t typically need air conditioning in San Francisco due to the The Bay’s natural cooling system.

Flash forward to 2019, and that question doesn’t seem so humorous anymore. Climate change has definitely altered things. My updated answer: Though older houses and small condo buildings don’t often have central air, many large, newer construction buildings do—especially in Mission Bay, South Beach, South of Market/Yerba Buena, Financial District, the Mission and Hayes Valley. Continue Reading

Which Neighborhoods Have the Best Weather?

If you’re new to San Francisco, you may be learning that our city has a variety of microclimates. One minute you can be driving around with the top down, sweating, and the next you’re turning on the seat warmers. If you’re considering purchasing a home here and are particularly weather sensitive, it’s important to know which neighborhoods tend to have the most favorable climates.

Of course, San Francisco has citywide fog and wind no matter where you go. But some areas have longer periods of time during a given day when the sun shines and the wind is at a minimum. So here’s a quick rundown: Continue Reading

What Neighborhoods Have the Most Inventory?

It’s no secret that San Francisco is notorious for having low inventory. We’ve been complaining about it for years, and there simply isn’t enough housing for everyone who wants to buy property in the city.

We’ve even got data to prove it. Yes, there were a few times over the past several years when inventory peaked, 2018 has been a lackluster year (click on image to enlarge):

I surveyed currently available single-family homes and condos to see which neighborhoods have the most inventory available. Continue Reading

Top 5 Food Neighborhoods in San Francisco

Near the top of most San Francisco home buyers’ wish lists is proximity to restaurants. After all, our city is one of the top food cities in the world, so who wouldn’t want easy access to fine eats?

I’ve put together a list of my top five neighborhoods that offer standout and diverse restaurant choices. Here you go (not listed in any particular order): Continue Reading

Buyers Exceed Seller Expectations with Extreme Overbids

Buyers Exceed Seller Expectations with Extreme Overbids

It’s one thing to list a property lower than the targeted price, but 95% of the agents I know who do significant business in San Francisco (including myself) don’t typically list a property for hundreds of thousands of dollars less than expected. So it boggles my mind when I see extreme overbids of 50% or more.

But it’s easy to rationalize a crazy selling price in a hot market with inventory that doesn’t meet the demand. Here’s a look at the latest head shakers for 2018 so far:

100 Teresita | 4BR/2BA, 1833 sq ft | Miraloma Park
List: $1,199,000
Sold: $1,950,000
62.5%+ Continue Reading

Vacant Two-Unit Building in Mission Offers Many Options

Vacant Two-Unit Building in Mission Offers Many Options

The pair of vacant flats at 1183 Hampshire in the Mission is perfect for a variety of buyers, from TIC partners to investors or owner occupiers looking for rental income.

I went through 1183 Hampshire on broker tour this week and was impressed by the space and overall condition. The finishes are a bit dated, but it’d be pretty straightforward to do cosmetic kitchen/bath remodels down the line. The important thing is that both units are in move-in condition. Continue Reading

Get in touch:

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

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