Category Archives: Potrero/Dogpatch

Noe, Potrero Condos Looking for Qualified Buyers

My two condo listings in Noe Valley and Potrero Hill are looking for qualified buyers to make these properties their homes!

148 Duncan is a gracious, top-floor 2BR/1BA condo with a formal dining room, private deck, shared yard, independent parking and storage. It’s in a great Upper Noe location that’s near BART, the J Church, shuttle stops and freeways—not to mention the restaurants, cafes and services in Noe, the Mission and Bernal Heights. List price is $1,195,000.

Here are two of my favorite rooms at 148 Duncan:
148Duncan LR1 Continue Reading

Just Listed: 310 Missouri in Potrero

Just Listed: 310 Missouri in Potrero

I love my new listing at Missouri and 18th in Potrero Hill. It has everything everyone is looking for—two bedrooms, two bathrooms, and an extra room for work space, nursery or guests.

There’s also that great-looking kitchen (left), light-filled dining area and view deck. Other amenities include one-car tandem parking, abundant storage and deeded attic space.

But back to that Missouri and 18th location. When people say they want to live in Potrero, this is where they want to be. You’re literally next to Chez Maman, and around the block from a multitude of shops, cafes and restaurants. Easy access to public transportation downtown, tech shuttles and 280 for South Bay commutes.

This property is currently a TIC in a two-unit building. The lower unit owners will be refinancing, and both the sale of 310 Missouri and the lower unit need to close escrow simultaneously to complete the condo conversion process. So you’ll be owning a condo.

List price is $1,095,000. Check out our Web site here!

Coming Soon and Off-Market Opportunities: November 12, 2015

Off-market land is quiet this week, but that’s probably because inventory is slowing down in general. Here are my picks for this week’s up-and-comers:

216 Yerba Buena / Monterey Heights
2BR/2BA home with expansion potential, 2 pkg
$995,000

130 Vienna / Excelsior
4BR/3BA + two bonus rooms up, 1 pkg
$799,000

Sunnyside Single-Family Home
2BR/1BA Marina-style home, huge garage
Price upon request Continue Reading

Just Listed and Sold: Off-Market Home in Potrero

Just Listed and Sold: Off-Market Home in Potrero

I just represented the seller in an off-market sale at 1133 Wisconsin in Potrero Hill. One of the neighbors was interested in purchasing the house, and my client decided to forego the disruption of staging, painting and preparing the house for sale in favor of a private transaction.

The home has two bedrooms, one bath and a deck with Bay views. There’s also a large garage, and the location gets some of the best weather in San Francisco!

Special thanks to Pacific Union’s Rob Costabile, who represented the buyer. Kudos, as well, to Michael Ostby at First Republic for handling the loan, and First American’s Kevin Thompson for a stellar escrow.

Final sales price was $895,000.

Price Reductions Creep Into San Francisco Market

Price reductions aren’t too common in the go-go market we’re experiencing in San Francisco right now. But they do happen occasionally. Savvy buyers know that price-reduced properties could be great opportunities to avoid multiple-offer situations and way-over-asking bids. Behind every price reduction is a motivated seller.

Of the 284 houses available now, only five have had recent price reductions. And only 14 of 354 active condo listings have chopped their list prices.

Here are my picks for three condos that are ready for offers now. Continue Reading

Modernist Potrero Home Breaks Sales Record for Neighborhood

Modernist Potrero Home Breaks Sales Record for Neighborhood

The off-market sale at 1740 20th Street at Wisconsin in Potrero Hill is the most expensive home ever reported sold in the neighborhood.

Quietly sold in mid-September for $9,500,000, the 3BR/2.5BA home originally built in 1950 has just under 3,000 square feet, pano views and a commanding 50 x 100 corner lot in a prime location. And yes, that breaks down to about $3,100 per square foot that the buyer—Atom Holdings LLC—paid for this property. Continue Reading

What You Can Buy: Condos Under $1,000 Per Square Foot

It’s no secret that the list price per square foot for condos is topping $1,000/square foot these days—with actual sale prices rising above that. And while I’m not a huge fan of relying completely on price-per-square foot as a data point, I do reference it when it comes to home values.

The good news is that the condo market currently has 125 units listed in San Francisco for under $1,000/square foot. The average list price for condos in this category is $1,144,151, with 15 condos listed for the ever-popular $899,000 price. ($995,000 is right behind that price point.) Continue Reading

SF Real Estate Sees Its Share of Summer Overbidding

The summer may have quieted down the market a bit in San Francisco, but that doesn’t mean prices are softening or that buyers have backed off from extreme overbidding (25%+ above the list price). In fact, we have three cases this month of irrational overbidding, too (50% or more over asking).

Of the 74 sold houses so far in August, 23 of them sold for 25% or more over asking. However, the condo market is definitely not experiencing parallel activity. Only six of the 62 units sold traded hands for more than 25% over asking.

Houses on the west side made a strong overbidding showing this month. Thirteen of those 18 houses sold for 25% or more above the list price were located in the Sunset, Parkside, Richmond and Golden Gate Heights. Buyers for the tenant-occupied house on Capp at 22nd Street in the Mission paid $1M in cash for what’s presumably a development opportunity.

Here’s how things have gone so far in August 2015:

Extreme Overbidding (25%+ over asking)
Houses:
763 36th Ave / Outer Richmond
List Price: $788,038 / Sale Price: $985,000 (25%)

554 45th Ave / Outer Richmond
$1,125,000 / $1,500,000 (33%)

2080 14th Ave / Golden Gate Heights
$899,000 / $1,302,080 (45%) Continue Reading

Condo Cash Buyers Back Off from Big Overbids

Cash buyers continue to make a strong showing in the San Francisco market, accounting for 20% of transactions that closed over the past three months.

But when it comes to houses vs condos, these condo buyers are pulling back from big overbids. The average overbid was only 2.32% vs 10.26% for house buyers. And only 9% of cash condo sales saw overbids of 20% or more—possibly indicating a less frothy Spring condo market. Continue Reading

Don’t Forget About Lofts in San Francisco

Don’t Forget About Lofts in San Francisco

Lofts have always been one of my favorite types of homes in San Francisco. With their high ceilings, open spaces and large windows, lofts always feel bigger than they actually are. Developers went on a loft-building spree in the late 1990s-early 2000s to create live-work housing in “transitional” neighborhoods like South of Market, The Mission, South Beach, and Dogpatch. And these properties still offer good bang for the buck. 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

The Most Competitive Condo Markets in San Francisco Right Now

One of the keys to success in the current San Francisco market is knowing which neighborhoods are the most competitive. Armed with that intel, you can more easily gauge how much to offer on a property, or what list price will work to your advantage.

As many of my regular readers know, I’ve been running a feature highlighting extreme overbidding for several months, regularly inducting new members into the SF Overbidders Club. The reality is that we have many neighborhoods in San Francisco that are showing double-digit overbid percentages, and it’s important to know what the selling patterns are when you’re determining values.

When it comes to the San Francisco market, these patterns can change pretty quickly. My sales data is based on reported MLS sales in the time period April 1 – May 12, 2014, so it’s the most current info available. Continue Reading

What You Could’ve Bought: For Under the List Price

Buyers are paying an average of 12% over asking for houses and 10% for condos in the current San Francisco market. So I always catch a little thrill when I spot properties that sell for under the list price.

A handful of homes sold for under asking in April in popular neighborhoods. Let’s take a look at some sales that were possible without overbidding and waiving contingencies. Continue Reading

Onyx in Potrero Knows Its Target Buyers

Onyx in Potrero Knows Its Target Buyers

I guess it was only a matter of time before someone decided to build a condo development with the look and feel of an Apple store. Sharing its name with an OS X utility app and saturated in white, Onyx in Potrero Hill certainly knows its buyer demographic.

I visited Onyx this week on my broker tour, and I do like the finishes and the location within the neighborhood. Onyx will ultimately house 41 one-, two- and three-bedroom condos across three stories and two buildings. (The second building will rise at the corner of 17th and Carolina, and will be completed in Fall 2015.) The two-story lobby has white porcelain flooring and “signature, ONYX stone.” You may stop momentarily to look for the Genius Bar, but the best bet is to either head up the stairs or take the elevator to the second floor to check out the available units. 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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