For the past few years our friends at SF Curbed have asked us to take part in their annual roundup of local luminaries such as architects, bloggers, urban planning folks and noted bloggers (we’re the real estate folks of course). This year was no different.
Here are the questions and answers from that coverage:
Lots of BIG houses in Pac Heights, good influxes in the Sunset and Parkside and new condos in the Central Area, but we could always use more as inventory is anywhere from 20 to 60 percent less than it was last year! Note my highlights. MLS Broker Tour for 9:25:12
Real estate tour Tuesday broker tour is always a fun time to see homes. There’s a little uptick in inventory this week. Perhaps a sign of things to come. Either way, here’s Tuesday’s tour sheet. Broker Tour August 7 2012
Get the advance on an exclusive new listing in San Francisco from Kevin K. Ho, Esq., Vanguard Properties
Built in 1887, this shotgun Victorian has seen history unfold around it. It’s painted pink so you can’t miss it – but you may miss this advance, pre-MLS purchase opportunity for this 2-unit, 1800 sq ft (approx.) home with garage, roof deck, backyard, income unit and expansion potential.
The upper unit has sweeping skylights, two bedrooms, one bath, in-unit laundry, and a spacious updated kitchen with stained-glass features, gas appliances, smart cabinetry, big island for family time – all overlooking a grassy backyard with swingset.
The lower unit is a one bedroom, one bat with kitchen income uni with approximately 800 sq ft.
There is a covered garage where two cars could conceivably fit in a tandem parking configuration as well as the driveway that would allow you to park without blocking the sidewalk.
The sellers are weighing their options carefully as their family expands; conceptional plans were prepared for a 2-story rear expansion and renovation with a new roof deck, common living area, and master suite and a completed in-law. The current downstairs tenant has verbally committed to leaving the property when a sale closes. The opportunity and potential at 473 Duboce are great as it is pink!
Offered at $1.3 million, pre-MLS
473 has just recently been re-subdivided as its own parcel. Records seem to indicate that the previous owner bought the surrounding parcels so that there were three lots held together as a tenancy in common. as such, assessor records may not yet reflect this recent development.
Interested parties are advised to consult a land use lawyer to confirm.
Downstairs tenant has no lease with the sellers currently. But downstairs tenant is a friend of sellers and has verbally agreed and understands that she will vacate unit should property sell.
The previous deck was demolished on the thought that could be replaced using over-the-counter permits. But that apparently was mistaken advice. Sellers are investigating available options.
The upstsirs home receives great light and has a wonderful San Francisco feel. The seller, recent renovation has reduced the amount of noise and vibration felt in the home.
Without knowing failure, relishing success rings somewhat hollow. In a competitive market it’s far easier to fail than it is to win. While it’s subject to change, the arbiter of success in many cases is the bottom line – the price bid. But offer terms are equally – if not more – important. Is there an appraisal contingency? How large is the down payment a would-be buyer is making? The gold standard may be 20% but what about an appraisal that falls short? It’s unlikely a seller in a competitive market would renegotiate on price as they would in 2011 for example. Instead, a buyer will be expected to cover the short fall. Keep in mind the multiple counter offer is out of fashion these days, but like fashion trends may come back into vogue.
What’s essential now is that me and my clients craft and present offers with clarity, strength and specifics.
1687 Alabama promises to be a hot, hot, hot property with its chic renovation of a typical two-level San Francisco home that really shows off the possibilities
Jim Hurley and Vanguard are known for their renovations (biased opinion acknowledged). But in this case Jim and his development partners have outdone themselves by turning a run-of-the-mill Bernal Heights home on Alabama Street (just up the block from Precita Park) at the base of Bernal’s North Slope into a demonstration piece showcasing the fullest potential for San Francisco’s classical homes.
The finishes are quality, the modern aesthetic shines. Sure there are wood floors, a kitchen with an island, bathrooms and bedrooms and even a skylight. But it’s the execution that sets this home apart. Skylights are used to cast massive amounts of light even on foggy morning. The wood floor blanks are broader. The baseboard and door framing treatments are elegant and clever. And my personal favorite the floating bathroom vanity with underlighting (sayanora pedestal sinks!) The massive walk-up open living space with kitchen and living room is flanked by two bedrooms and bath. A skylight and modern chandelier light the stairs going down (a piece of craftspersonship in itself) to the master suite level with an en suite bathroom (double floating vanities that all open and lead out to a cleverly landscaped backyard.
Listed at nearly $1.3M this home will touch the $1000/sqft price point if it sells at the price. Take a look at it while you can!
A Massive 11,000 sq ft Pac Heights Mansion listed with Pac Union at 1250 Pacific at Baker
The last of the Newhall family that owned this Cape Cod tucked away off of Pacific behind another ‘modest’ home passed away a couple of months ago willing this 7 bedroom mansion to a nearby church after living there for 92 years. Yes, 92. In the end it was her and a 24-hour caregiver left on this home with amazing public spaces complete with a replica of a cape cod shingled house – but inside under an atrium that leads into another nautical-like homage to the aft of an 19th century English sailing ship. The caregiver was given the ‘modest’ brick home across the street and the church got the house. The house has a servant wing ala Downton Abbey in addition to a massive outdoor greeting area for your dignitary of choice, working nob and tube electrical systems, antique water heaters and dryers as well as sweeping views north and of the Getty’s apparently. It’s not every day where you can look down on their home right?
Oh, and one thing, there’s no kitchen apart from the one in the basement where all the domestic staff lives. The SF real estate market is hot these days and $16.5M just doesn’t get you what it used to!
Here are some snaps taken during the 45 minutes it took to tour the house. Oh, and forgot to mention there are no showers in the house and we were pretty sure the phone worked!
1830 Page Street, Essentially a Detached House oasis in the Haight, list price $929,000
Another theme today was the house within a house – or in other words – detached bungalows. This two-story is no bungalow but rather a cute, open floor plan home with a garage space in the front of the property in the 2-unit condos facing Page Street listed with Caroline Scott at Zephyr. The home was built in the 1870s and, after the earthquake, the house was moved back on the lot and the two units built in front. In the 80s it was switched back to a single family space. HOAs are $300 and offers are due May 14, 2012.
534 Ashbury, newly refurbished top-floor 5 bedroom condo, list price at $999,000 with downstairs, street level deeded storage
This top floor (with stairs to match) that has been renovated to show off its natural lights and potential to the fullest with modern upgrades that add a lot of value. The deeded storage space could well be turned into sparking space with money and effort. Listed with Brown and Co. Offer date not yet set.
29 Hartford St., Victorian Condo, listed at $829,000
This is on one of those streets many dream about living on. Located in the middle of the Castro on Hartford Street this one has two double-parlors. There are period details, nice landscaping and great built-ins. There are three bedrooms in this bright home. Offer date not set listed with Danny Fernandez at Zephyr.
Even though inventory has been relatively slack, there was still a lot to see. The market remains mixed with bargains and very red hot properties alike.
up on the north side
Over at 2800 California St., #303, Paula Pagano of Hill and Co presented a two-level newer construction condominium located at California and Divisadero. This home is located on the upper two floors of the building. There are high 9 foot ceilings and hardwood floors. The master suite basically has its own level and has a walk out deck with panoramic views to the east. Current list price is $869,000. The offer date is Friday, May 11, 2012. According to Paula there are already interested parties.
2347 Union St., #2, condominium, List price $665,000, expected price to decline to $650,000 within the week.
For those who want to live in Cow Hollow up on the north side, 2347 Union as listed with Ron Sebahar of Hill and Company offers a good choice. This 1 bedroom home has independent parking across the St. $250 a month. HOA dues are $350 a month and cover everything but in unit water and electricity. The home is very sunny, part of a four unit building built in 1924. There’s a renovated kitchen and general upgrades throughout. The bathroom could use an update however. The seller is becoming more motivated as time goes on. This space isn’t nice one and very quiet despite its central location. It also has a nook/den that can serve the work-at-home person quite well. The kitchen was upgraded recently and has a nice greenhouse window and there’s a common area yard downstairs. Offers as they come.