Category Archives: Sunset/Parkside

Just Sold: Modern Inner Sunset Condo

Just Sold: Modern Inner Sunset Condo

My clients close today on their purchase of an awesome, two-level modern condo in a prime Inner Sunset location at 307 Moraga.

This 3BR/2BA has an open living/dining/kitchen area with large windows overlooking Moraga. There’s in-unit laundry, and two bedrooms with one en suite upstairs. One flight down is another bedroom/bath and family room. Both lead out to the private, deeded yard. 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

Coronavirus Isn’t Stopping Overbidding in San Francisco

Coronavirus Isn’t Stopping Overbidding in San Francisco

Limited inventory during the shelter in place (SIP) market seems to be motivating many buyers to overbid on properties—particularly when it comes to single-family homes.

Of the 186 houses sold from March 17th-May 5th, approximately 70% closed for above list price. Clusters of homes in the Outer Mission, Bernal Heights, Miraloma Park, Outer Parkside and Central Sunset saw overbids of well above twenty percent. 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

Low Inventory SF Market Will Continue In 2020

High buyer demand and low inventory were the hallmarks of 2019. And it’s a good bet these conditions will fuel another year of high real estate prices, multiple-offer situations and overbidding.

The good news for homeowners is that the average price of a house in the fourth quarter of 2019 was $1,960,000. But it’s worth noting that the average price was roughly the same in Q4 2018. Given that we’ve seen double-digit growth over the past few years, it looks like home prices in San Francisco have hit a long-awaited plateau. 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

Set Your Strategy Before You Start Your Search

Set Your Strategy Before You Start Your Search

I know it’s fun to skip around Redfin and other home search sites, hit open houses after brunch and request a disclosure package here and there when you get the urge to dip your toes into the San Francisco real estate pool. But if you’d rather cut to the chase and kick off a serious home search that will produce results, I have a few tips for you. 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

Flip Market Falters in 2019

Small-scale contractor-developers seem to be having a little trouble this year when it comes to flipping their renovated properties. At least half a dozen such homes have been sitting on the market, failing to garner multiple offers and sky-high prices.

It might be time to consider these homes if you’re looking for a newly renovated home. Spring promises to bring fresh inventory—as it always does—and flip sellers may be a bit anxious about falling through the cracks. Here are a few to check out:

2631 Ulloa
Parkside

Days on Market (DOM): 46
4BR/4BA, 2087 sq ft, 1 parking
List price: $1,488,800

2631 Ulloa is a spacious, 1920’s-era home. The story here is that the sellers—an LLC—purchased the property in January 2018 for $1,050,000, with subsequent renovated encompassing a new kitchen and baths, bedroom addition and more. They hit the market in February for $1,688,800 but have found no takers. The home has nice curb appeal, but the drawbacks are that there’s not really a yard, and the living/dining/kitchen areas are tight. But you’re one block south of Taraval and the L Muni rail line, as well as one block north of Stern Grove. (Ignore the pictures of the Giants’ ballpark and Kearny Street, I think those were accidentally included in the mix. 2631 Ulloa is nowhere near those places.) [Listing courtesy of Real Estate Investment Experts, Inc.] Continue Reading

Bernal, Sunset Top List of Most Competitive Neighborhoods for Buyers

San Francisco’s real estate market has long operated under the “list low, sell higher” approach. I’ve been a full-time Realtor since 2002, and it’s basically always been that way. If you’re a buyer or seller, it’s important to get a grip on how this selling pattern will affect the types of offers you write—or the ones you can expect to receive.

One of the ways to figure out which neighborhoods are the most competitive when it comes to multiple offers and interest levels is by seeing where the most extreme overbids are happening most frequently. Continue Reading

What You Can Buy That Has a Pool

San Francisco weather doesn’t easily lend itself to taking a dip in the pool. I mean, this isn’t L.A., and the fog tends to keep us pretty cool. However, properties periodically come on the market with pools.

And I don’t mean just the condos in South Beach in large complexes like The Brannan and The Towers. I mean the pools that pop up in smaller, unique properties. I found some condos and houses that fall into this category. So let’s dive in:

1478 12th Avenue
Inner Sunset

4BR/3BA condo
$2,228,000

Of all the neighborhoods in San Francisco, the Inner Sunset is probably the last one I’d think of for an outdoor pool. Nonetheless, 1478 12th Avenue has a deeded yard with a heated lap pool. This unit and the other one in the building at 1480 12th Avenue ($1,628,000) hit the market at the start of 2018 with slightly higher prices, so the lap pool hasn’t convinced anyone to pay what the seller wants just yet. But the location is pretty convenient and you just might want to jump in after you go for your run in nearby Golden Gate Park. Listing courtesy of West & Praszker] Continue Reading

Central Sunset Sees Latest Sky-High Sale

Central Sunset Sees Latest Sky-High Sale

The modest, barrel-front home at 1330 22nd Avenue in the Central Sunset was a big hit with San Francisco home buyers. Listed in mid April for $1,395,000, the house had a remodeled kitchen, two bedrooms with an attached sunroom and a bedroom downstairs. Did I mention there was only one bathroom?

But it was a single-family home in what’s become a hot part of the city. Here’s a look at a few other rooms of the house, as well as the yard:



[Photos courtesy of Park North/Zephyr Real Estate]

The winning bidder paid $2,250,000 in cash.

Though this sale may seem out of bounds for the neighborhood, it’s worth noting that seven homes have sold in the Central Sunset for $2M or more since 2015. Most recently, the sale at 1246 23rd Avenue raised eyebrows for its $2,195,000 sale price. (That one, however, was listed a bit higher at $1,695,000.)

If you’re looking for a home in the neighborhood, know that the average price for a house in the Central Sunset is around $1.6M year-to-date.

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

SF House Market Soars (Again) in 2017

A strong local economy coupled with high buyer demand fueled the San Francisco single-family home market in 2017 amidst a backdrop of concerns about things like the new presidential administration, North Korea and a possible real estate bubble.

2017 was basically a continuation of the 2016 market—high prices, multiple offers, extreme overbids, discouraged buyers and happy sellers.

The good news for homeowners is that the average price of a house in the fourth quarter of 2017 was almost $1.9M. The bad news—if you can call it that—is that the average price rose less than 2.5% over Q4 2016. Given that we’ve seen double-digit growth over the past few years, this minimal increase is worth noting as we head into 2018. Continue Reading

What You Could’ve Bought for Below The List Price

The selling pattern in San Francisco continues to be list low, sell for more. However, it doesn’t always work out that way for some sellers. November brought with it some sales that veered from the typical pattern, in neighborhoods where it absolutely is the norm to overbid. Congrats to these buyers and sellers who wrapped it up before the end of the year:

136 6th Avenue
Lake Street
List Price: $3,125,000
Sale Price: $2,650,000
Days on Market (DOM): 39


136 6th Avenue was a single-family house with a legal one-bedroom apartment down (used as an office by the former owners). The location at 6th and Lake was excellent, and perhaps this home suffered from less-than-stellar marketing (no word yet if the red tea kettle and the pepper mill were included in the sale). Continue Reading

Get in touch:

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

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