Archive for the ‘Miraloma/West Portal’ Category
Posted by insidesfre on July 15, 2010
I received an email from a prospective Miraloma Park seller this week, asking me how his local market is doing. So I thought it would be a good time to drill down on the nabe.
Miraloma Park is certainly holding its own in 2010. A total of 21 homes have sold this year, at an average price of $797,762. In general, you’re looking at paying in the $600,000s for homes that need work, and generally in the high $700,000s-$1.2M or more for a nicely done 3BR home in a good Miraloma location. The market is currently in a bit of a summer doldrum, with only three homes in contract. However, there are a dozen properties available, ranging in price from the mid $600,000s-$1,099,000. The hottie at the moment is 99 Marietta, a 4BR/2BA short sale home listed at $688,000 that will undoubtedly attract multiple offers. It’s located a short distance from the Mollie Stone’s retail area, which always jacks up the price.
The median Miraloma home price has decreased over the past 90 days, and has been flatlining a bit:
But the neighborhood will still continue to be popular with buyers who need more space in a well-maintained area that’s reasonably close to freeways and retail areas like West Portal and Stonestown.
Posted in Miraloma/West Portal | Tagged: miraloma park | Leave a Comment »
Posted by insidesfre on June 29, 2010
There’s a wide variety of properties in San Francisco, and we take a look today at three very different homes at the $1M price point:
3569 Pierce
Marina
List Price: $995,000
2BR/1BA, 1575 sq ft
1-car pkg
HOA dues: $250/mo
This first-floor condo in a two-unit building has a gourmet kitchen, wood-burning fireplace, formal dining room and hardwood floors. There’s also a shared, landscaped garden. Location is prime Marina, close to Marina Green and the Chestnut Street retail area.
65 Borica Street
Ingleside Terrace
List Price: $998,000
4BR/2BA, 1719 sq ft
2-car parking
Fully detached and built in 1923, this Spanish-Mediterranean single-family home has a Mayan fireplace, formal dining room, spacious kitchen with a garden view, and rear decks. The price was reduced in mid May from $1,129,000 to the current $998,000 list price.
472-474 Pennsylvania
Potrero Hill
List Price: $995,000
Two units
2-car pkg
Consider this two-unit building that will be delivered vacant. There are two 2BR/1BAs, a terraced yard, and two-car side-by-side parking. Good Potrero location, in walking distance of both Potrero shops and restaurants, as well as the Dogpatch cafes and restaurants (and about five blocks away from the Muni line that runs up & down Third Street). You’re a little close to 280 here, but how much that will bother you is a personal choice. This is a good option for someone with a decent down payment who wants to owner occupy one unit and rent out the other. Or, go in with a friend and keep your costs manageable.
Posted in Miraloma/West Portal, Mission/Potrero, North End of Town, What You Get For... | Tagged: ingleside terrace, marina, Potrero Hill, spanish mediterranean | Leave a Comment »
Posted by insidesfre on June 18, 2010
It’s not the most attractive home by any means, but 199 Marietta does have a unique, bird’s-eye view of San Francisco. Located atop a hill with views of Glen Park Canyon/downtown, and graced with its own gated driveway (above), the 3BR/2BA home has about 1600 square feet and was built in 1956. List price is $990,000.
I haven’t seen the interior yet, but I’m betting it hasn’t changed much since 1956. And no word on structural soundness just yet. Barring any serious defects, you’re probably looking at a fairly pricey remodel to achieve fabulosity. Prices for 3BR homes in Miraloma tend to top out in the $800,000-$1M range. But they may not have such a unique location (though the property Walk Score is 71, so those who don’t want to jump in their car every time they want to go somewhere need not apply).
Posted in Miraloma/West Portal | Tagged: view home, marietta | Leave a Comment »
Posted by insidesfre on June 8, 2010
The 4BR/3BA home at 112 Lunado Way in Ingleside Terrace first came on the market in February at $1,650,000—potentially ready to ride the coattails of the April 2009 sale of neighbor 25 Mercedes. The latter had sold for $1,765,000 after 112 days on the market. But it was also the most expensive home sold last year within the confines of Ingleside Terrace.
However, no buyers materialized for Lunado at its initial list price, and after a series of reductions, the property sold last week for a more realistic $1,289,000. Indeed, the median price for the area over the past year was $1,083,800.
So buyers, it goes to show you that, given enough time and sufficient reality doses, some sellers will sign on the dotted line for significantly less than asking. But it just may take time (about four months, in the case of Lunado). And make no mistake: There are seemingly plenty of buyers looking for $1M+ homes in San Francisco. But many of them are sitting on the sidelines, waiting to make the right move at the right time.
Posted in Miraloma/West Portal | Tagged: ingleside terrace | Leave a Comment »
Posted by insidesfre on May 27, 2010
Intrepid city home flippers are still out there, looking to make a few bucks on a quick remodel in San Francisco. The latest attempt is at 407 Myra, a 2BR/1B home that was in “very distressed condition” when it came on the market in February for $525,000:
But a buyer scooped it up for all cash at a $450,000 selling price in March. Since then, they’ve installed a new kitchen, replaced windows, and removed the vinyl siding, among other odds and ends. Back on the market at $699,000, 407 Myra does admittedly look better (though I’m thinking staging & professional photography might boost the interior shots a bit):
Will the flip be successful? In terms of location, Myra is in the more remote part of Miraloma, at the base of Mount Davidson. Homes in that location tend to sit longer. However, the obvious comp is over at 546 Myra, a 2BR/1BA with excellent views that sold for $700,000 shortly before 407 Myra closed. In terms of a flip, though, I would’ve expected another bedroom out of the effort, which would have really added key value.
Posted in Miraloma/West Portal | Tagged: miraloma park | Leave a Comment »
Posted by insidesfre on May 18, 2010
I’ve been enjoying the “median price” series of On the Block blog posts, so I thought I’d create a San Francisco version.
The median price for the 273 single-family homes sold since April 1st is $775,000. And there are 281 houses currently listed for up to that price. Here are three of them, ripe for the picking:
The first is a 2BR/1BA with an unwarranted studio in-law at 2122 47th Avenue. I sold a house in this Outer Parkside neighborhood last year that was two blocks from this property, and I can vouch for the excellent beach and park proximity. The home appears to be in nice condition, and is listed at what I believe is a very reasonable $628,000 price. It’s been on the market for about two weeks.
We move on to 1351 Plymouth,a 2BR/1BA 1920s home in Westwood Park listed at $685,000. There’s a sunroom, living room with fireplace, and a bonus room/bath down. You’re very close to Ocean Avenue and BART/Muni stations, and the house has an 88 Walk Score. There have been two price reductions since the property came on the market at $728,000 in mid March.
I blogged about 271 Nevada when it first came on the market back in February:
The one-bedroom cottage is very appealing, but it’s less than 1,000 square feet, which may explain why there is a limited buyer pool. The sellers came on at $749,000 and haven’t moved to reduce the price. But this is probably because they paid $790,000 in 2007 and may not be able to afford to sell for less than their list price. There’s a lot of that going on these days.
Posted in Bernal/Excelsior, Market Snapshots, Miraloma/West Portal, Sunset/Parkside | Tagged: outer parkside, Bernal Heights, westwood park, median price san francisco | Leave a Comment »
Posted by insidesfre on May 13, 2010
My clients closed escrow yesterday at 432 Ulloa, a 2BR/2BA single-family home with a bonus bedroom/bath and two-car parking in Forest Hill Extension. The home was listed at $699,000 and attracted significant interest due to its close proximity to the heart of West Portal.
I have to admit that I was not looking forward to the prospect of a short sale, but things went incredibly smoothly. I believe this is because the lender for both loans was Bank of America, which recently instituted a policy to push short sales through more quickly. Indeed, the sale was approved within a month’s time. The listing agent moved things along well, and kept us updated throughout the process. The seller was also very cooperative (not to mention my buyers). Look for these factors to check out if you’re heading into a short sale. The lender is key to expediting the process.
Posted in Miraloma/West Portal | Tagged: forest hill, short sale, ulloa | Leave a Comment »
Posted by insidesfre on May 5, 2010
Sales are a little off this year in what’s known as “District 4.” This is the area that encompasses neighborhoods such as Balboa Terrace, St. Francis Wood, Miraloma Park, Forest Hill Extension, Mount Davidson Manor and West Portal (as well as a few others). The areas predominantly fall into the 94127 zip code, so I put together a stat chart showing pricing trends for most of District 4:
The area has been on a bit of a downswing since the beginning of the year. Indeed, of the 52 single-family homes sold in District 4′s neighborhoods with 94127 zip codes, 27 sold for less than asking. There are currently 28 available listings with an average price of $1,381,217 and a days on market average of 66. But the 25 properties in contract have an average list price of $1,063,508. Looks like these current properties might have to move in price to attract buyers.
Buyers, District 4 may be the place to go if you’re looking for more house for your money—and some favorable negotiating.
Posted in Home Buyer Tips, Market Snapshots, Miraloma/West Portal | Tagged: 94127, district 4 | Leave a Comment »
Posted by insidesfre on March 12, 2010
It was September 2009 when 315 Santa Clara came on the market in the coveted enclave known as St. Francis Wood. The 4BR/5.5BA, 5700-square foot Spanish Mediterranean manse occupies a double lot, has an indoor pool, courtyards and terraces and was listed at $4,795,000.
The home’s price has just been reduced to $4,349,000—substantial, but consider that the property was last sold only three years ago for $2,650,000. Another case of 2010 optimism? That is one hefty chunk of appreciation. Granted, the master suite and another bedroom were remodeled by the current owners. But even at its reduced price, 315 Santa Clara would be the most expensive house sold since January 2009.
Here’s a parting shot of the pool:
Posted in Miraloma/West Portal | Tagged: santa clara, spanish mediterranean, st. francis wood | Leave a Comment »
Posted by insidesfre on March 11, 2010
There seem to be many buyers hunting for San Francisco single-family homes in District 4. In Realtors’ terms, District 4 is the area that encompasses Sunnyside; Miraloma Park; Westwood Park/Highlands; Mount Davidson Manor; Balboa/Ingleside Terraces; Monterey Heights; Sherwood Forest; Diamond Heights; Forest Hill/Extension; West Portal; Midtown Terrace; Forest Knolls and St. Francis Wood.
Many of these neighborhoods have homes that are worth less than $1M, and for single-family home buyers, that’s the sweet spot. I’m seeing a significant uptick in homes sales in the area, as evidenced by the number of properties that have gone into contract or are pending (in contract, with sale conditions removed).
No less than 37 single-family homes are on their way to closing sales, with an average list price of $1,001,451. Most were listed in the $700,000-$900,000 range. And many reportedly saw more than one offer. A total of 37 homes have closed escrow in the area since the beginning of the year, with eleven homes selling for above their asking prices (244 Santa Paula in Forest Hill was listed at $1,395,000 and sold for $1,520,000). But most sold for less than asking (most dramatically, 69 Amber in Diamond Heights listed at $1,250,000 and selling for $905,000, and Sunnyside’s 266-68 Monterey listed at $1,049,000 and selling for $700,000.)
There are 64 active listings in District 4, some of which have had significant and attractive price reductions. If you’ve been sitting on the fence for the past year but long to have a single-family home in the city, District 4′s neighborhoods will likely have something for you.
Posted in Glen Park/Sunnyside, Miraloma/West Portal | Tagged: miraloma park, sunnyside | Leave a Comment »
I received an email from a prospective Miraloma Park seller this week, asking me how his local market is doing. So I thought it would be a good time to drill down on the nabe.
