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Archive for the ‘SoMa/S. Beach/M. Bay’ Category

Just Sold: Stylish SoMa Condo at Flower Market Lofts

Posted by insidesfre on July 23, 2010


I closed escrow on my listing at 590 6th Street #309 yesterday, and we had a very smooth transaction. We received two offers after our third Sunday open house, and my client accepted the stronger of the two. There were no problems with the buyer’s loan process, including the appraisal and final loan approval. The 2BR/2BA, 1,235-square foot property closed at its $649,000 asking price.

SoMa is definitely in a steady state of recovery. I saw this firsthand with my 6th Street sale, but am also working with very enthusiastic buyers who are ready to purchase in the neighborhood. There are more and more foreclosure-free sales coming on the market, and some sellers are getting with the program and pricing their homes at market value. There are currently 103 condos/lofts on the market in SoMa, and 32 in contract. A total of 75 units sold in the second quarter, at an average of $689,472 (and at an average of $658 per square foot).

Market activity in the SoMa west area has dropped off pretty recently, as this chart suggests:

But this isn’t surprising, given that it’s summer and market activity usually takes a dip in August.

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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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Mobile Barcode Technology Gives Buyers and Sellers a Boost

Posted by insidesfre on July 20, 2010

Remember the days when the most information you could access when driving past a home for sale was—maybe—a flyer in a plastic holder attached to the For Sale sign? They gave way to accessing Web sites on a smartphone, which isn’t always ideal because surprisingly, not every listing agent creates a property-specific Web site. And there’s only so much you can glean from your Redfin app.

What I think is going to revolutionize home buying and selling is Microsoft Tag’s 2-D barcode technology for use in marketing materials and signage. BLU at 631 Folsom in SoMa is using the technology now; it essentially lets you snap a barcode placed on the building frontage and view, in this case, a video of one of the units. I think the technology fits hand in hand with the need for buyers to see the inside of a property anytime they happen to drive by. These days, many buyers explore neighborhoods on their own before working with a Realtor. The barcode technology lets these same buyers get a feel for what’s inside a building without having to deal with setting up a showing. If they like what they see via their mobile app, they’ll most definitely want to make time for a showing appointment.

I tested out the app on my iPhone, and found it to be quite easy. You just go to gettag.mobi and then you’ll be directed to the download page for the App Store. Once you download the free app, you simply hold your phone up to the barcode through the automatic viewer and the app will snap it. Check it out by snapping the above barcode. It’s pretty cool technology, and has great potential for the real estate industry.

Posted in Buyer/Seller Tech Tips, New Developments, SoMa/S. Beach/M. Bay | Tagged: , , | Leave a Comment »

Just Sold: Hip, Modern Studio in South Beach

Posted by insidesfre on July 13, 2010

My client closed escrow earlier today on a studio in one of my favorite South Beach buildings at 88 Townsend. Listed at $469,000, #123 is well appointed and also has its own private outdoor patio.

Buyers are certainly snapping up homes in the South Beach and SoMa neighborhoods lately. In the second quarter alone, a total of 137 condos/lofts were sold, at an average price of $749,130. Call me if you’re interested in 88 Townsend; a new junior one-bedroom just came on the market at $529,000.

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Open House Spotlight: SoMa Townhome on Scott Alley

Posted by insidesfre on July 9, 2010

If you’re looking for a place that definitely feels more like a home than a unit, check out 14 Scott Alley, off Fifth Street between Folsom and Harrison. Listed at $649,000, the corner townhome has two bedrooms on the lower level, and the living/dining areas on the main level. There’s also an office area, private patio, wood floors, closet organizers, shared courtyard, and private garage. HOA dues are $210/mo.

There are 30 units in the building and the property has a nice gated entrance. Open Sunday, 2:00-4:00.

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Mission Bay Making a Comeback

Posted by insidesfre on June 28, 2010

It’s been a while since I’ve come across a sale worth talking about in Mission Bay. Sales have generally been flat there since the economic downturn hit. But things seem to be changing. Case in point: The recent sale at 255 Berry #515.

The 2BR/2BA, 1225-sq foot unit fronting Mission Creek was listed on May 20th at $799,950. Five buyers competed for the property, an offer was accepted, and the sale just closed on Wednesday for $870,000.

This is good news for Mission Bay residents, who’d flocked to the assessor’s office over the past two years in bids to readjust their property tax bases due to falling values.

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Just Listed: Flower Market Loft in SoMa

Posted by insidesfre on June 4, 2010

Fresh on the market today, my new listing at 590 6th Street #309 in the Flower Market Loft building is an excellent, spacious unit with a flexible floor plan and wonderful natural light.

The main level features a guest/media room, washer/dryer, full bath, kitchen and dining/living space. There’s a master suite upstairs that leads to a deeded patio, as well as a separate office area. This is a loft, so rooms aren’t enclosed. But you definitely get distinct areas that will work for whatever living spaces you need. There’s also one-car parking and some adjacent storage.

List price is $649,000, and our first open is this Sunday, June 6th from 2:00-4:00. Stop by and say hello!

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What the Median Price Will Buy You in SF: Condo Edition

Posted by insidesfre on May 20, 2010

We take a look today at the median price in the San Francisco condo market, and what you can get for your money at this price point.

The median price for the 247 reported condo sales since April 1st is $689,000. Here are three properties that are listed for exactly that price:

The first is a 1BR/1BA at 25 Hotaling, a new project in the Jackson Square district downtown. I really liked Hotaling; it’s excellent for buyers looking for a pied-a-terre in an area that gets pretty quiet at night.

We move on to 3919 21st Street in Eureka Valley. I toured this property when it was listed back in mid March. It’s about 700 square feet, and is located on a secluded part of 21st Street, at the rear of the lot. There’s no parking, but there is a lot to walk to in the neighborhood (as well as lots of ZipCars nearby):

The owners paid $645,000 in 2006, so the list price is obviously designed to cover selling costs.

And finally, here’s 301 Bryant #D31, a 914-sq foot 1BR/1BA in great South Beach location:

One glitch here is that the unit is tenant occupied, which is something to consider if you’re not looking to purchase investment property. This is a bright corner unit with a spacious bedroom. HOA dues are $442/mo.

Posted in Downtown, Market Snapshots, Noe/Eureka Valley, SoMa/S. Beach/M. Bay | Tagged: , , , | Leave a Comment »

Tiny Prefab Units on Track for SoMa

Posted by insidesfre on May 18, 2010

I spoke with The Chronicle’s Robert Selna about a new project being planned for South of Market—a prefab building on a parking lot at 38 Harriet (at Howard). The eco-friendly concept is appealing, as well as the idea of affordable housing ($200,000-$275,000/unit). However, these units will be 310-340 square feet. Read today’s Chron article for all the details.

Are these microcondos big enough for the average San Francisco buyer? Perhaps. I can’t, however, put aside how things turned out for Cubix—the building that featured tiny units in the same price range. The project fell victim to foreclosure, but is somewhat back on track. Still, not exactly a stellar model for 38 Harriet to follow.

Will 38 Harriet come out on top?

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SFMOMA-Like SoMa Home at 464 Tehama Still Up For Grabs

Posted by insidesfre on May 10, 2010

The stark SoMa abode over at 464 Tehama is all buttoned up and still waiting for a suitor. It was listed in mid March for $3.6M, but no one has stepped forward yet. Designed by Jim Jennings & built by Ryan & Associates in 2002, the 4280-sq foot, two-story property features 3-4BRs, four bathrooms, as well as mahogany floors, moveable pocket walls, and wine cellar—all ensconced within 23-foot poured concrete walls. The property was last sold in 2007 for $3.2M.

There’s also a cool patio, and a guest cottage. Here are some shots of the kitchen, living room and patio:

464 Tehama is considered to be a condo, as per tax records, but is really a standalone property. If it sells for around its asking price, that’ll answer everyone’s question about how soft the market has become in SoMa for luxury properties since the economic downturn hit.

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