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Archive for the ‘Noe/Eureka Valley’ Category

Noe Valley Gets Hip with Blue Bottle Outpost

Posted by insidesfre on July 30, 2010

The mid July opening of the Blue Bottle outpost inside Spin City laundromat at 26th and Sanchez is making Noe residents feel hip. But it’s also a huge plus for prospective Noe home buyers and renters, who apparently have been stopping at what’s technically called Spin City Launderette and Coffee and asking about the neighborhood. That’s making barrista and coffee space owner Maricar a Noe ambassador of sorts. How cool is it to be able to walk around a neighborhood and find a sort of in-person Yelp to talk to?

Maricar is happy to chat about all the good aspects of the neighborhood. She didn’t hesitate to bestow some pretty cool treats upon my two Cairn Terriers, who were happy to swarm around her all afternoon:

Maricar is leasing out the space within Spin City, and I think it’s an excellent blend of the practical and the social. Noe residents have a new hub along Sanchez—not to mention access to premium, local coffee—and a small business is born. Let’s hope to see more of these types of businesses sprout in San Francisco.

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Pie-in-the-Sky Pricing Not Working in 2010

Posted by insidesfre on July 27, 2010

There was a time when sellers could say, “I’ll sell my house if I can get [insert crazy price here],” and buyers would pay it. Perhaps these buyers had gotten caught up in the housing boom, weren’t consulting comprehensive pricing sources, or were working with an out-of-area agent who was equally misinformed. It was all very pie-in-the-sky, and sellers benefitted immensely from the proceedings.

Flash forward to 2010, and this sort of thing isn’t happening anymore. It just doesn’t work to put a nutty price on your home, inconvenience yourself with keeping things neat and clean for showings and open houses, and run your agent back and forth in the hopes of finding a buyer who’ll pay your unrealistic asking price.

Case in point—1356 Dolores in Noe Valley, a modest home that sold in 2006 for $995,000, and which was remodeled by its current owners. They spent a reported $150,000 converting the basement to a bedroom/bath/study; remodeling the kitchen, bath and dining area and a few other miscellaneous items. We then had a major real estate blowout that took hold in 2008 and got worse from there. Prices dropped citywide.

So it was a little surprising to see 1356 Dolores—located on a busy downhill stretch a few doors from the Cesar Chavez/Dolores intersection—come on the market in May for $1,649,000. This price is usually reserved for homes located in better parts of Noe Valley. The property was beautifully remodeled, and had a nicely landscaped yard. But for one thing, there was no bathroom for the two bedrooms to share on the upper level. And the whizzing car factor along Dolores wasn’t going away, meaning buyers concerned with child or pet safety concerns were likely to shy away. Even the Zillow “zestimate” pegged the property at $1,280,000, which is probably still too high, given the aforementioned issues.

The owners of the property were not alone; since April 1st, a total of 261 houses and 461 condos/TICs have been withdrawn from the market. I haven’t cross referenced these homes to see if they’re back on the market at lower prices. In some cases, they are. But mostly, they belong to disappointed—and now, educated—sellers who are slowly coming to terms with the new San Francisco market.

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Neighborhoods in San Francisco with the Best Weather

Posted by insidesfre on July 21, 2010

If you’re new to San Francisco, then it’s important to be aware that our city has a variety of microclimates. One minute you can be driving around with the top down, sweating, and the next you’re turning on the seat warmers. If you’re considering purchasing a home here and are particularly weather sensitive, it’s important to know which neighborhoods tend to have the most favorable climates.

Of course, San Francisco has citywide fog and wind no matter where you go. But some areas have longer periods of time during a given day when the sun shines and the wind is at a minimum. So here’s a quick rundown:

Bernal Heights. Make a good garden space a priority in Bernal, because you’ll be able to spend a lot of time enjoying it. And the Cortland retail strip is usually pretty hoppin’ because you can wander in and out of the shops and restaurants and not have to keep zipping and unzipping your jacket.

The Mission and Mission Dolores. Bernal’s neighbor is the Mission, which also shares in the weather fun. The nice part about the Mission is that there are scattered restaurant and shops throughout the neighborhood, and you can bike or walk pretty easily. If your commute involves walking to BART at either 16th/24th and Mission, your morning and evening strolls will probably not find you confronting driving winds.

Noe Valley. I live in the part of Noe that’s defined as “Upper Noe”—the area bordered by Guerrero, Cesar Chavez, 30th Street, and up as far as Diamond. For the most part, you can avoid the high winds in Noe, but it does depend on how into the “valley” part you are. Most days when I walk my dogs in the late afternoon, I’m wearing sunglasses and have a light jacket on. However, up there in Diamond Heights, the fog hangs thick. And when I drive down, say, Clipper, from Portola in the Twin Peaks area, I typically experience a transition from no sun and heavy fog to sun. There’s a notable difference every time.

South Beach. Located right off The Bay, South Beach is blessed with lots of sun most of the time. This is conducive to a very desirable, urban lifestyle that involves walks to the Ferry Building, runs along the Embarcadero, and Giants games.

South of Market. The blocks are long in SoMa, but that’s okay because if you’re running, biking or walking, you’re not being blown into traffic. The neighborhood is always developing, and it’s definitely the most urban area in this list. But having good weather is key to enjoying those shared rooftop decks that pervade SoMa living.

Mission Bay. This is the newest area in San Francisco, and it’s still developing. Amenities like Mission Creek Park, the ballpark, and outdoor dining at places like Kelly’s Mission Rock are all available. What I like about Mission Bay is that developers are making sure to take advantage of the on-the-Bay setting by incorporating as many deeded outdoor spaces as they can—and roof decks.

Potrero Hill and Dogpatch. Potrero is a well-established neighborhood offering a mix of residential and industrial properties, and Dogpatch (a.k.a. the Central Waterfront) has truly been transformed over the past decade into a hub for local businesses, restaurants, wine bars and the like. The new T Muni line connects Dogpatch to downtown, and the freeways are extremely convenient to access.

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Dolores Heights Colonial Seeks Deep-Pocketed Buyer for Revival

Posted by insidesfre on July 12, 2010

If you’re looking to drop $2.5M on a really unique property a couple blocks from Dolores Park, look no further than 3493 21st Street in the Dolores Heights area.

The 3,000+-square foot Colonial home sits on the northeast corner of 21st and Dolores, and has six bedrooms, three baths, and a rear deck off the master suite. (Sorry, no enchanting Thomas Church garden here.) “Revive this Colonial,” says the listing agent, and we’ll see who’ll step forward to do so. This is a busy corner hosting a home that needs updating, as evidenced by the kitchen:

Recent comps may or may not indicate that the Colonial will get its asking price. Nearby 418 Liberty was a similarly sized Spanish Mediterranean home that sold in March for $2,650,000. And 3971 20th Street was a grand-scale home that sold for $2,150,000 in January and didn’t need work. There are nine other estate-level homes in Eureka/Noe Valleys, so buyers have their pick of the luxury litter. A sale at 3493 21st will rely on a buyer really falling in love with that location and house style. And if that’s you, please contact me and we’ll set up a showing appointment pronto.

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Eureka Valley Inventory Waits for Buyers

Posted by insidesfre on July 2, 2010

If you’ve been in the market for a single-family house, condo or TIC in a central part of San Francisco, go where the inventory is and check out Eureka Valley.

There are currently 15 houses, 15 condos, and 19 TICs on the market here in all price ranges—quite a lot to choose from. Here’s a quick breakdown of price ranges in each property category:

Houses: $599,000-$4.8M
Condos: $429,000-$1,795,000
TICs: $459,000-$799,000

Properties worth checking out are 169 Yukon, a very cute cottage that’s now down to $599,000 (but needs some work), as well as 245 Collingwood, a 2BR/2BA top floor condo listed at $899,000 that has up to two-car parking and a great indoor-outdoor feel.

And note that market action has dropped off recently, meaning sellers are eager to do business with all interested and qualified buyers making reasonable and serious offers:

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Good Deal: Sweet Noe Condo with Awesome Garden

Posted by insidesfre on July 1, 2010

It’s a condo, not a TIC, and it has direct access to the idyllic garden pictured above. The 1BR/1BA, 787-square foot unit at 3915 26th Street is listed at a seemingly reasonable $565,000, and it also comes with one-car tandem parking.

Last sold for $405,000 in 2006, the property was on the market at the end of April for $579,000. It never sold, so the owners are giving it another try. The unit also has a little office area, nice period details and built-ins and a large storage space. Seven one-bedroom condos have sold in Noe this year, ranging in price from $525,000-$768,000. The upper unit at 3913 26th—a 2BR/1BA with 982 square feet—just sold in May for $708,000.

The big selling point for 3915 26th Street is location—you’re right off Church Street, which is highly convenient. And for the buyer who wants direct access to a nice garden, this is a great fit. Who knows? Maybe there’s room to move in the price.

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How’s the Market In: Noe Valley

Posted by insidesfre on June 25, 2010


The reality about the San Francisco housing market is that there are multiple micro markets that experience their own local activity. I’m often asked by current/prospective clients, friends, and neighbors how particular neighborhoods are faring in the current economy. And with that, a new regular feature is born.

The way I’ll be selecting neighborhoods to profile will be based on how often I’m asked about a given area. So if you’re interested in how the market is doing in, say, Pacific Heights or Potrero Hill, drop me a line and I’ll put it on my list for a future blog post.

In the meantime, we’ll start with one neighborhood that’s near and dear to my heart: Noe Valley. I’ve lived here since 1998, so it’s the obvious place to start. (Oh, and about two people have asked me in the past week how the market has been doing in Noe.)

Noe has been holding up well, unsurprisingly, as it’s still the neighborhood of choice for young families, Silicon Valley commuters and downtown workers due to its proximity to freeways, public transportation and increasingly new restaurants. The fact that Noe has more sun and warmer temperatures than other parts of the city only serves to increase appeal. The streets are clean, architecture generally more appealing, and there’s a real sense of community there.

A total of 25 single-family homes has sold since April 1st, and quite a few for over their asking prices. The median sales price is $1,150,000. There are 19 active house listings, with 22 in contract (11 are awaiting contingency removals, and 11 are pending). Recent high drama in this segment of the Noe market occurred at 4015 26th Street at Sanchez, an unrenovated 4BR/1.5BA home listed at $1,449,000, but which sold for $1,710,000. (I know.)

Here’s a quick look at the single-family home absorption rate in Noe—meaning how quickly current inventory is being purchased by buyers—in the two zip codes that cover the neighborhood (94131 and 94114). It’s kind of a mixed bag at the moment, statistically speaking:

Condo sales have been a little softer in Noe. There are 23 available listings, 17 in contract/pending, and 23 sold since April 1st. The median condo price is $768,000. A majority of units are selling for under their asking price. But condos in the Noe zip codes have seen either increased or very steady absorption rates very recently:

The luxury Noe market is somewhat glutted, with 13 houses and one condo currently available for $1.5M+. Properties in this price category aren’t exactly flying off the shelves; only three such homes are in contract. Indeed, of the 23 expired or withdrawn house/condo properties since April, a majority were listed above $1M. Nine luxury properties have sold since April, including three houses and one condo for above the $2M price point. Boosting things a bit are the Nove condos on Guerrero (queue Spanish guitar music). If you’re a buyer in this range, you certainly have your pick of inventory.

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Round Bed, Pool and Fire Kick It Up a Notch in Luxe Eureka/Noe Home

Posted by insidesfre on June 11, 2010

I toured 775 Sanchez when it sold in 2006 for $3.7M. The 4BR/4BA only had three bedrooms and three bathrooms then. The location is one of the best on the Noe/Eureka border due to its nice cul-de-sac, view position.

The property is back on as 775-777 Sanchez, and is listed at $4.8M—quite a hefty price tag (not to mention considerable appreciation). Here’s another look at the round bed:

And when the sun goes down, you can break out the marshmallows and wine, and hang on the deck:

I remember the infinity lap pool from four years ago, too. It appears to be holding up well:

At any rate, we’ll see how this sale goes. There are eight other homes in the Eureka/Noe neighborhoods listed for $2M+, and six such homes have sold there since January. Market activity in the luxury market has definitely slowed a bit in the south part of the city.

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Noe Valley Condo Inventory Spikes for Summer

Posted by insidesfre on June 7, 2010

Not only have Noe Valley residents busted out their grills for summer, but several of them have decided to break out the For Sale signs on their condos, too.

A total of nine condos hit the market in Noe Valley over the past week, ranging in price from $669,000 to $1,038,000. And you can add these to the other 21 condos in Noe that are already on the market. But it seems like buyers aren’t hesitating to make purchases in this property category and neighborhood; a total of 35 condos have sold since January, with a median price of $848,000. The most expensive unit sold was at 1068 Sanchez, a3BR/3BA, 1,753-square foot property that sold for $1,625,000. In fact, twelve of the sold properties had $1M+ selling prices—buoyed by four luxury condos sold at the new Nove project on Guerrero—which tells you that Noe Valley is still attracting affluent buyers.

And it seems like listings are being absorbed at a pretty good pace. Here’s a look at the sale absorption rate for the 94114 and 94131 zip codes, which cover Noe Valley. It seems like sales really started to match inventory around the third week of May:

If you’re a buyer looking to get into Noe, you have a lot from which to choose. I wouldn’t necessarily say it’s a genuine buyers’ market in the neighborhood, but over the next few weeks, it could spin in that direction.

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Dolores Mansions Search for Deep-Pocketed, Hip Buyers

Posted by insidesfre on June 2, 2010

It’s not often that two grand-scale properties come on the market along Dolores. But the holiday weekend really ushered them in. First up is the 5BR/3.5BA residence at 1148 Dolores:

This one is on my dog-walking route when I’m feeling ambitious and want to walk straight up the hill along Dolores. I’ve admired it for a while, and was thrilled to see it come on the market. The Mediterranean-style manse clocks in at 3,250 square feet, and also has a garden studio (located on 14 Jersey). Of special note, according to the listing agents, Italian craftsmen were brought over to complete the house at the time of its construction. So you have custom plaster work and tile work, and a very unique aesthetic quality.

I’m digging the garden:

But I’m not hot on the master bath, “periodic” as it may be:

There are buyers out there who would love all the 1930s details, pink bath and all. Hopefully they’ll have $3M worth of purchasing power, ’cause that’s the list price.

And further north is the return of 601 Dolores:

You know this one—the “castle on the park” that was on the market throughout 2009 listed at $9,950,000. It’s a single-family home converted from a church, located directly across from Dolores Park. The 3BR/2.5BA property was not previously staged, but now they’ve brought in some furniture so you can figure out where the heck to put everything:

The price has come down to a much more affordable $7,490,000. For that you get a living room with soaring, hand-painted ceilings (with seven chandeliers) as well as stained-glass windows. The main level has a chef ‘s kitchen, large formal dining room, two fireplaces, marble bath and yes, a stage. So if you’re a rock star who hasn’t quite warmed to the Warfield condos, think about 601 Dolores. You’d be right across the street from all the action at the park.

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