Category Archives: SoMa/South Beach

New Listing: Big SoMa Loft

My new tri-level loft listing clocks in at 1778 square feet and has two bedrooms and two-and-a-half baths. If you’re a natural light lover, you’ll truly appreciate the floor-to-ceiling windows and skylights. Your entire main level is the entertainment space, with a classic loft bedroom/full bath upstairs. The fully enclosed, first-floor master has a separate media/family room, full bath and lots of closet space. There’s also in-unit laundry. Continue Reading

Buyer Pool for 1BR Condos Smaller, But Strong

One-bedroom condos generally have a smaller buyer pool in San Francisco. Empty nesters, investors, single people or couples are typical buyers, with the latter two groups being first-time buyers looking to get their foot in the homeownership door.

But there’s certainly a strong market for a one bedroom, especially if it’s in a prime location and has all the amenities. I’ve been watching this segment of the market for a while now, as I have a beautiful one-bedroom condo listing at 1818 Broadway #306. And I was not surprised to find that prices are climbing for one bedrooms; in some cases, buyers are getting into extreme overbidding at very high price points. Continue Reading

What You Can Buy: My Picks for This Week

Inventory is starting to hit the market, and I’ve been scouting around for properties for my buyer clients. In between, I get to see properties that aren’t quite a fit for my buyers, but would work for my blog readers who may be house hunting. Here are some cool properties in varied price ranges. If you’re interested in taking a look, give me a shout at 415.823.4656 and we can schedule a showing just like that.

500 Masonic #2 / NoPa
2BR/2.5BA, 1220 sq ft, 1 pkg
$1,299,000
500masonic_2
The two-level condo at 500 Masonic #2 has what many buyers are looking for—two bedrooms upstairs, an open kitchen/dining/living space, in-unit laundry, and secure garage parking for up to two cars (tandem).
Pros: Large, deeded rooftop space easily accessible from the elevator. Smaller, seven-unit building. 94 Walk Score!
Cons: One bedroom and the main living space front Masonic, which is a heavily trafficked street. (Note that a major streetscape improvement project is planned.) Continue Reading

Buyers and Sellers: Use October Sales as Your Guide

We’re well into the Fall real estate season, and the holiday home stretch is just around the corner. October numbers will be the best guide for buyers and sellers as they respectively decide how much to offer and how much they want for their homes.

Here’s where we are right now in the market. Continue Reading

SoMa’s Sapphire Slashes Prices

SoMa’s Sapphire Slashes Prices

The sales team at 252 9th Street in SoMa, known as Sapphire, has been marketing its 15 well-appointed new condos since September. Though some of the units are in contract, there are still plenty available. And prices are about to be slashed significantly.

Savvy buyers, take note: Sapphire offers one- and two-bedroom condos that feature European oak hardwood floors, high ceilings, kitchens with Bertazzoni gas ranges, and washer/dryer hookups. Amenities include patios or balconies in select units, a fantastic roof deck with amazing city views, bike parking, storage lockers, and elevator service to all levels. HOA dues are in the $400-$500 range. 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 Condo Market Sees Summer Softening

SF Condo Market Sees Summer Softening

The San Francisco condo market tends to hop into a hammock for a siesta around July and August. For buyers who aren’t on vacation and serious about snagging a new home or investment property before the big Fall push, summer can present a wonderful opportunity to avoid bidding wars and get a pretty good deal.

There are 200 condos on the market as of this writing, and almost half are looking at a days on market (DOM) count of 21 days or more. 38 of these condos are listed for under $1M, and 29 for $1.5M+. For once, the luxury market isn’t leading the market-sitter pack. Continue Reading

The Scoop on South Beach’s 72 Townsend

The Scoop on South Beach’s 72 Townsend

I took my clients on a hard hat tour last weekend of South Beach’s newest condo development, 72 Townsend. Boasting a prime neighborhood location and city/water views from many of the balconies, 72 Townsend is currently under construction with no actual finished units just yet.

The building sits at the corner of Townsend and Colin P. Kelly Jr. Street, and the lobby entrance will be on Colin P. Kelly Jr. It was formerly a historic grain warehouse that survived the 1906 earthquake, and part of the original facade remains. There will be about 5,000 square feet of commercial space on the ground level.

72 Townsend is a block from the Embarcadero, two blocks to the Giants’ ballpark, and many restaurants, cafes and major San Francisco employers are scattered within easy walking distance. Caltrain is a few blocks west on Townsend, and the 280 entrance is also a quick drive away. The bottom line is that this is a great location for buyers looking for a modern home with all the conveniences. Continue Reading

Condo Overbids Calm Down in June

I received a lot of comments and emails on my post earlier this week about house sales in San Francisco that didn’t require overbidding in June. The big question: “What about condos?”

The good news for buyers is that even more condos are selling for less than or at their list prices. But do note that these sales aren’t happening in the most popular neighborhoods. If you’re open to areas that aren’t Noe Valley, the Mission, Pac Heights or NoPa, there are plenty of opportunities out there—particularly in high-rise buildings where there are many units.

Here’s the lineup of resales reported in June that were marketed through the MLS: Continue Reading

21 Days and Counting: Luxury Homes Wait for Buyers

Buyers in the $2M+ range should be checking out properties that have been sitting on the market for three weeks or more. That’s because there will likely be less competition, and you might also end up with a pretty good deal.

There are currently 47 houses and 30 condos on the market in this price range. Here are three of my favorite properties in the pack: 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

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

Noe Houses, Cow Hollow Condos Lead Price Per Square Foot Pack

Heads up, San Francisco house hunters: If you’re looking to get into hot neighborhoods like Noe Valley, NoPa, and the Marina, be prepared to potentially pay more than $1,000/square foot.

Noe Valley has truly jumped the shark with its price per square foot average for single-family homes: It’s now just above $1400. And thanks to the new Amero condo development in Cow Hollow, that neighborhood’s price per square foot average leads the pack for condos in the city. Continue Reading

New Condo Listings, Holiday Activities in SF

Have you planned to hit up any holiday activities in the city yet? The latest Zephyr Market Tracker rounds up the newest condo listings, and also takes a look at what’s on tap for San Francisco’s holiday activities.

We also check out the deets behind the potential subway extension to Fisherman’s Wharf. All this, plus the latest sales and stats. It’s all here in the Zephyr Market Tracker!

Contact Eileen for Real Estate Help

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

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