Category Archives: Noe/Eureka Valley

TIC Inventory Poised To Grow in 2021

TIC Inventory Poised To Grow in 2021

The tenancy-in-common (TIC) market slowed to a crawl in the last quarter of 2020, with almost 100 cancelled or expired listings laying by the MLS wayside. With the condo market cooling due to Covid, it was no surprise that the less conventional TIC took a bit of a hit, as well.

But 87 TIC interests did end up selling (up from 70 sold in Q4 2019) despite these challenges. Buyers snapped up TICs in popular neighborhoods like Noe/Eureka Valleys, the Haight, Hayes Valley, NoPa, Marina, Russian Hill and the Mission in search of prime locations and more space than condos can typically offer for the same price. 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

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

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

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

SF Single-Family Homes Not Immune To Price Reductions

Houses in San Francisco are always in demand among buyers. And this property type has stood its ground during our current recession—in fact, the average price of a house from June 1 – August 15th has increased by 6.7% to $2,141,356 in comparison to the same time in 2019.

But single-family home sellers are no strangers to the dreaded price reduction decision. Some homes come on the market with high prices in comparison to their comparable sales; it’s no secret that there’s a tendency for homeowners to believe their house is superior for one reason or another.

I took a look at all the houses that sold from June 1 through August 15th and discovered that 17% sold after having at least one price reduction. Continue Reading

Cash Sales Decline in SF Corona Market

Cash Sales Decline in SF Corona Market

Cash buyers appear to be receding into the background these days as the San Francisco market adjusts to corona’s financial fallout.

It wasn’t so long ago that a quarter of single-family home and condo buyers paid cash. However, cash sales represented only 14% of all house and 12% of condo transactions from April to early August. Continue Reading

Challenged Condo Market Still Sees Overbidding

Challenged Condo Market Still Sees Overbidding

It’s no secret that the San Francisco condo market has plenty of inventory right now, especially in large buildings in South Beach, SoMa, and Mission Bay. But I’m still seeing some condos close for above the list price.

Buyers continue to pay top dollar for remodeled condos with classic architectural styles, and which also include parking and in-unit laundry. Location is key, of course. Two-bedroom units in the Inner/Central Richmond, Inner Sunset, Lake district, and Cole/Noe/Eureka Valleys were most commonly sold for over the list price in July. Continue Reading

Don’t Get Sucked In By Super-Underpriced Properties

Don’t Get Sucked In By Super-Underpriced Properties

Heads up, home buyers: Super-underpriced homes are popping up in the market again. It’s a good time for a refresher on how this particular list price strategy works, so you don’t waste time on homes you can’t afford.

The coronavirus and ensuing shelter in place (SIP) temporarily influenced list prices in San Francisco, with many sellers and their agents going with transparent, closer-to-value asking prices. The idea was to limit property access to qualified buyers who could purchase the home at market value. Continue Reading

Preview: SF Homes Coming Soon

Inventory is slimmer this Spring, but there are plenty of homes coming soon with owners who may be open to selling before officially going on the market.

I’ve rounded up a few of my picks below. Give me a shout at eileen@insidesfre.com | 415.823.4656 if you’d like more details or would be interested in seeing any of these homes in person:

439 16th Avenue
Central Richmond

3BR/3BA, 1 pkg
$1,900,000

439 16th Avenue is a gracious home with lovely period detailing like box beam ceilings. The upper level has three bedrooms and full bath, and the spacious master has two large closets. There’s a one-car garage, storage, and unwarranted one-bedroom inlaw. Large, flat, fenced yard. (Listing courtesy of Compass) Continue Reading

“End Users” Snatch Up Fixers for Dream Home

“End Users” Snatch Up Fixers for Dream Home

The “fixer” buyer pool no longer exclusively consists of contractors and small-scale developers. Instead, deep-pocketed buyers looking to purchase a fixer and turn it into their dream home are increasingly becoming the dominant players in this property category.

A small Noe Valley Victorian recently hit the market (see above photo, left) and attracted multiple offers within a week. The listing agent reported that all offers were from “end users”—industry speak for buyers who will eventually owner occupy the property as their primary residence. There was a time when the only purchasers for a property like this would’ve been contractors looking to flip. Continue Reading

Best Neighborhoods for Dog Owners in San Francisco

San Francisco is one of the more dog-friendly cities in the country, and many of its neighborhoods offer ideal environments for dogs and their owners.

I’m a dog owner myself, and frequently meet clients looking for a home in a neighborhood that will provide what we all need for us and our pets. That means proximity to open space, dog-friendly cafes and shops, and a community of dog owners who support each other and their ‘hood. 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

Contact Eileen for Real Estate Help

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

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