1) Good Price: 737 Cole hit the market about 14 days ago and struck us as being aggressively priced. With ~1/2 of San Francisco’s listings being grossly overpriced (in our humble opinion), it’s refreshing to see a home like this where the seller is realistic. The catch? Offers were due yesterday (Monday the 16th) and we think it’ll go over. The price? $1,895,000 for 4BR/3.5BA/2car parking in a fantastic location.
737 Cole is a well-priced beaut.
2) Good View: Read the rest of this entry ?
As many of you know, I used to be a real estate appraiser (and in a way, always will be). Appraisers are paid for their professional opinions, honesty, and expertise. If they are lacking in any of those three areas, well, they’re just not cut out for the job. I’ve heard a few stories about appraisers lately that made me cringe.
The Good: [Honest and expert] Appraisers not only protect banks from lending more than a home’s value, they also protect the buyer. Let’s say that a buyer is in contract on a home for $500K and the appraisal comes back at $400K. As a result, the buyer does not get their loan and they get angry with the appraiser. In actuality, they should be extremely thankful that the appraiser saved their butts from overpaying by 25%, but appraisers are rarely thanked. Instead, the appraiser gets bashed from the real estate agent (thanks for killing my deal), the buyer (hey, thanks, I lost my home), the seller (you imbecile, I was just about to cash in), and the loan officer (thanks pal, I’m not going to get my fee). If the appraiser is truly an expert, there should be nothing stopping them from doing honest work, including pressure from any of the aforementioned parties. Unfortunately, appraisers can be coerced and threatened (we’re not going to use your services anymore if you don’t hit our number!). This is the reason new regulations are in effect that limit who can talk to an appraiser.
The old days: "If you don't hit my number we're never using your services again!"
Let’s face it, if you have three different appraisals on a property, you’ll get three different values. Read the rest of this entry ?
Another light week on the Tuesday tour… which is the calm before the post-Labor Day storm. Only four properties made four stars this week and one posted five.
Back yard of the week was a tie between 1871 Green and 946 Elizabeth. We had trouble deciding which one we’d rather be chilling in. 1871 Green is definitely a little more, well, green, and 946 Elizabeth has a fantastic patio with better sun. Both have their strong points and are pictured below.
1871 Green's back yard is something out of a fairy tale.
This photo under-represents the back yard at 946 Elizabeth, but we'll attest, it's gorgeous.
Sun drenched patio at 946 Elizabeth.
For the four and five star ratings of the week, continue reading. Click the bold address for additional info on any given property –>
Check out this article written by Amy Hoak via RISMedia. The article is entitled “Homes in Walkable Neighborhoods Sell For More“, and sheds light on the growing popularity of walkability as a desirable attribute for real estate (and real estate values).
This
..or this. You make the call.
RISMEDIA, August 22, 2009-(MCT)-Homes located within walking distance of amenities such as schools, parks and shopping aren’t only more convenient for their owners, often they’re also worth more than homes in neighborhoods where driving is the rule, according to a new study.
The report looked at 94,000 real-estate transactions in 15 markets. In 13 of those markets, higher levels of “walkability” were directly linked to higher home values. Read the rest of this entry ?
A couple of listings hit the market during the past few days that got us feeling blue. Here, have a look:
115 Nevada in Bernal Heights
115 Nevada is a cute little 1940′s home located in Bernal Heights. The 2 bedroom, 2 bath home is listed at $799,000. We’re partial to the paint job, which reminds us of the house in My Big Fat Greek Wedding. Throw in a few Ionic columns, marble statues, and a fountain, and let the bids roll in!
The actual house from My Big Fat Greek Wedding (note the blue and white Greek paint job-- classic!)
Our next blue home belongs to Read the rest of this entry ?
What is a pocket listing? A pocket listing is a home that is not being advertised to the general public through the MLS or a listing that will come on the market in the future but right now is still a secret. Many homes in San Francisco sell while off the open market, so pocket listing culture is a big deal. Each week, we’ll be sharing info about pocket listings that we know of (most of them anyway- some have to remain completely confidential).
Information on pocket listings is sparse and secretive, so pardon us if we seem short on details for the purposes of our blog. If you are interested in learning more about a particular listing you can click HERE to contact us. Without further ado, here are this week’s pocket listings:
To see this week’s pocket listings, continue reading –>
Pacific Heights and cheap… the two terms really don’t go together. That is, until now. We’ve searched active listings in the neighborhood and are here to tell you about the 5 cheapest condos. And by cheap we mean “least expensive”, not “poor quality”. Pac Heights currently shows 29 condos as “Active” in the MLS.
1909 Green seems like a good one... we'll have to check it out.
Some common themes amongst these five listings? Well, you’re not going to get any more than 1 bedroom, and you’ll be lucky to get parking. If you want to be in a quaint 3 or 4 unit building, that’s not gonna happen either, as most of these are in large buildings.
From a property value perspective, it can be a good thing to buy cheap in an expensive market area. That’s not to say that all of these homes are good investments… we’d stay away from a few of these units (sorry, not going to call them out on a public forum). But overall, the idea is a good one if you know what to look for and what to avoid.
Here are the 5 Cheapest Condos in Pacific Heights, in no particular order: Read the rest of this entry ?
From the local accounting firm Bertorelli, Gandi, Won & Behti:
Economic and tax considerations make right now a super-favorable time for parents (and grandparents) who are willing and able to help their adult children make first-time home purchases. Home prices are low, interest rates are low, and the tax factors are almost unbelievably beneficial. How long this ultra-good scenario will last is anyone’s guess, but we would bet not too much longer.
Make sure you negotiate a good interest rate. And for God's sake, clean yer room!!
To view the entire article, continue reading –> Read the rest of this entry ?
Nob Hill… it’s one of those quintessential San Francisco neighborhoods. No matter where you are in the country, people have heard of it. And they know Nob Hill’s reputation for attracting San Francisco’s elite.
[Cue the Brahms] A classic full-floor condo has just hit the market through the Brachman Group of Sotheby’s International Realty at 1001 California @ Mason. This exquisite French-style residence boasts views of the City, Huntington Park, amazing interior woodwork, and a type of elegance rarely found. Two bedrooms, two and a half baths, and over 3,600 square feet await a new owner who knows how to throw one-heck-of-a cocktail party. Unit #3 at 1001 California is asking $7,250,000.
Photos:
1001 California - Exterior
Unit #3 - Interior
For more interior photos, continue reading –>
Welcome to another edition of Tuesday Tour Show-Stoppers! This week was a little light on new listings but we saw a few goodies out there. Let’s start off with the View of the Week winner.
289 Chestnut is a multi-unit TIC building situated on Telegraph Hill. The view from unit #3 was quite spectacular, but it’s the roof deck on the building that wins this week’s award. A small sliver of the view is pictured below, the Golden Gate looking larger than life. The views at 3785-87 16th Street came in a close second.
The roof deck at 289 Chestnut wins view of the week
The Backyard of the Week Award goes to 2221 Baker in Pacific Heights. This grand home has a very peaceful setting out back, including a patio, hot tub, lush lawn, and beautiful landscaping. The sound of a trickling fountain meets your ears as sun shines down on the deck. Second place was 2339 Green, which also has an incredible backyard, but not the number of features of 2221 Baker. If you’re after privacy however, 2339 Green would be the choice.
2221 Baker wins backyard of the week
Now for those 4 and 5 star ratings. Keep in mind, just because we think a home’s got a lot of great attributes doesn’t necessarily mean we agree with the price. Four stars = Excellent and Five stars = Superb. On with the list!
A gorgeous Haight Ashbury Victorian continues to stand out in my mind from last week’s Broker Tour. Why? Quite simply, it’s the price tag.
1424 Page Street
1424 Page Street hit the market on July 24th for $1,089,000. “So what”, you might say. Well, this single family home boasts 4 bedrooms, 3 full baths, an in-law suite downstairs, and close to 2,500 square feet of living space. The home is situated on a tree-lined portion of Page. And the price? Well let’s just say Read the rest of this entry ?
Just a friendly reminder if you really want the $8,000 first time home-buyer tax credit but have been dragging your feet lately… it might be time to ramp things up again. The deadline for the tax credit is November 30th. That means you’ll need to have closed on your home by then if you want the incentive. With normal escrow periods taking 30-45 days, you’ll need to be “in contract” by mid-October (and that’s going to be cutting it close). Those applying for FHA financing or purchasing a short sale should build in even more time, perhaps a 60-90 day cushion before November 30th.
And don’t be surprised to see log jams at lending institutions and title companies around November 30th, which could add complications for those trying to squeeze in. Good luck!
You snooze, you lose (regardless of how cute you are)
For more buyer tips, click HERE.
To share this post, continue reading –>
What is a pocket listing? A pocket listing is a home that is not being advertised to the general public through the MLS or a listing that will come on the market in the future but right now is still a secret. Many homes in San Francisco sell while off the open market, so pocket listing culture is a big deal. Each week, we’ll be sharing info about pocket listings that we know of (most of them anyway- some have to remain completely confidential).
Information on pocket listings is sparse and secretive, so pardon us if we seem short on details for the purposes of our blog. If you are interested in learning more about a particular listing you can click HERE to contact us. Without further ado, here are this week’s pocket listings:
To see this week’s pocket listings, continue reading –>
Closing costs? Yikes. Complicated subject. That is, until now. One of our all-time favorite real estate related websites is www.closing.com and it provides answers to the most detailed of closing cost scenarios. Here’s how it works:
Plug in some basic info...
That’s it. Closing.com will spit back a monthly payment estimate, and it knows the tax rate for the zip you entered. Next, it will lead you to some title insurance and home warranty providers. Select (or shop) policies to arrive at the final screen, your Estimated Closing Costs Report. Handsomely laid out, this report will detail Read the rest of this entry ?
Greetings and welcome to another edition of Tuesday Tour Show-Stoppers! It was a light week out there for new, striking listings. But that’s par for the course during July and August. There will be a rush of new inventory in early September, but that’s still a few weeks out. In any case, we were able to tour 17 homes today and came back with a couple of keepers. Before we hand out our 4 and 5 star awards, let’s take a look at the winner of “View of the Week”.
733 Sanchez wins view of the week
733 Sanchez narrowly beat out 195 Beacon for View of the Week. Priced at $1,450,000, it seemed like quite a good deal for the location, size of yard, view, open layout, curb appeal, and its 3BR/3BA floorplan. A luxe master suite upstairs and 3 sunny decks complete the package. We’ll have our eyes on this one.
Time to hand out some stars, and keep in mind we are not judging prices. We are simply highlighting what we believe to be quality real estate in quality locations. 4-stars = Great and 5-stars = Superb. Click the bold address on any property for more details.
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