Real Estate Update: 12/18/2011 – 2012 Upward Forecast
What’s Going on in San Francisco Real Estate? Upward Bound
Vanguard Properties is proud to report that we’re number 1 in Districts 5 and 9 in sales volume, units sold and new listings. In a ‘down’ time our office sales volume increased 25 to 30 percent from last year! We’ve whether the storm better than other places – where else will a company simply announce that it is going to hire hundreds of new employees? And where will all those people live? Housing is short and housing remains a commodity. Rents have never been higher and the costs of owning are becoming more attractive than renting.
The trend will only accelerate: With LinkedIn’s IPO followed by Zynga and one expected from Facebook in 2012, money is out there. A childhood friend of mine is a co-founder of Jive, which just IPO’d this week. They’re now worth many, many zeroes. We’re already seeing this take hold: Consider that more than 30 percent of San Francisco transactions are all-cash with short, short escrow periods. And, last week’s Pick of the Week (857-859 Castro, listed at $649,000 for a 2-unit fixer between Hill & 22nd) received 17 offers! That’s 16 buyers who didn’t get that property. Don’t be fooled into thinking things aren’t humming.
At the San Francisco Association of Realtors’ Member Day, an economist with a proven track record who predicted the real estate bubble bursting in 2007, predicted that there’s no second dip coming and that 2012 is going to the best year yet in recent history for real estate. Time to get aboard.
Open Houses of the Week:
Toward the Bay….
$839,000 – 757 North Point St #5, San Francisco, CA 94109
This stylish Russian Hill condominium is conveniently located just above Aquatic Park. The sophisticated two bedroom, two bathroom home has a large living room with hardwood floors and wood-burning fireplace and built-in shelving/storage. The remodeled chef’s kitchen with stainless appliances, hardwood floors and granite counters opens to a spacious dining area and deck with partial bay views. The master bedroom has an en-suite bathroom and a large walk-in closet. This unit has abundant light, in-unit laundry, a large separate storage room, elevator and deeded parking. Serene common outside back area has three levels. Don’t miss!
- Type: Condominium Beds/Bath: 2/2.0 Parking: 1 Approx. Sq. Ft.: 0 (Not Available) MLS: 392197
$895,000 – 2546 Hyde St, San Francisco, CA 94109
This residence is located on a little walkway off of Hyde, in a very romantic garden setting. It has straight on Alcatraz views & south-facing patio. One-of-a-kind home is set like a SFH but is part of a small homeowner association & is classified a condo. This very San Francisco property is on 2 levels, features period details throughout including moldings, hardwood floors & fireplace. First level has a living room with window seats, formal dining room with fireplace that opens onto back patio through French doors & eat-in kitchen. Second level features 3 good size bedrooms, views of Alcatraz from master & 1 bath. The property comes with a full basement that could be used for storage or could be developed. Located in desirable Russian Hill
- Type: Condominium Beds/Bath: 3/1.0 Parking: 0 Approx. Sq. Ft.: 0 (Not Available) MLS: 389221
East of Twin Peaks…
$499,000 – 21 Delmar St, San Francisco, CA 94117
Inviting, well-maintained Edwardian flat is move-in ready! Spacious 4-room flexible floor plan. Ample space in front parlor for den or second bedroom. Sun room suitable as office, pantry or private laundry room (in-unit hook-ups). Updated eat-in kitchen and split bath with permits in 2011. Fresh paint, wood floors, 2 fireplaces, high coved ceilings and classic details. Large exclusive use storage room. Shared laundry room and covered outdoor space. Condo conversion in 2010. On a serene tree-lined street. Walker’s Paradise – close to public transportation, Haight Ashbury & Cole Valley neighborhood conveniences, Google & Apple shuttle stops.
- Type: Condominium Beds/Bath: 1/1.0 Parking: 0 Approx. Sq. Ft.: 0 (Not Available) MLS: 392108
$499,000 – 137 Elsie St, San Francisco, CA 94110
Opportunity knocks. First time on the market in over 80 years. Nice home, with two bedrooms and one bath, full basement, in great location. Needs real TLC or contractor. A great street in a hot neighborhood near shops, cafes, restaurants and transportation. Hurry!
- Type: Single-Family Homes Beds/Bath: 2/1.0 Parking: 0 Approx. Sq. Ft.: 875 (Per Tax Records) MLS: 392180
$639,000 – 333 Main St #5F, San Francisco, CA 94105
Extra large 1 bedroom + den overlooking Bamboo garden. Quiet, peaceful and private. This central city home is ideally located along the waterfront Embarcadero, within an easy walk to the Financial District and Union Square. The Infinity is a 24 hour luxury doorman building with underground parking, pool, 5000 sf gym, theater, and concierge services. An EZ walk to shopping, restaurants, the Ferry Building, Financial District, Union Square, and Public Tranportation.
- Type: Condominium Beds/Bath: 1/1.0 Parking: 1 Approx. Sq. Ft.: 841 (Per Builder) MLS: 392094
$679,000 – 451 Kansas St #558, San Francisco, CA 94107
West facing top floor 2BD/2BA residence has lovely hardwood flooring in the living room/dining room. Enjoy the homes numerous upgrades including upgraded carpeting, high-end wooden slat window coverings, full size in-unit washer and dryer, glass shower doors, and completed with a large ceiling fan. The kitchen features honed granite counter tops and stainless steel, energy efficient appliances as well as a large pantry. Attached to the Master Bedroom, the Master Bathroom features side by side sinks and a large walk in closet. The split floor plan with 2 en suite bathrooms offers flexible living for an owner occupant or a perfect rental unit for current or future investment purposes. 1 Car Parking is included in the price.
- Type: Condominium Beds/Bath: 2/2.0 Parking: 1 Approx. Sq. Ft.: 932 (Per Tax Records) MLS: 391975
$779,000 – 361 29th St, San Francisco, CA 94131
Charming 2 bedroom, 1 bath Edwardian flat on level block close to everything Noe Valley has to offer. Living rm with fireplace, open dining rm, breakfast bar to remodeled kitchen, large master bathed in sunlight, large guest room, custom closets. Spacious period tiled bath. Bonus room down. South facing garden, one car side by side parking. $200 HOA. Sound proofed, seismic upgrade, very serene, tray ceilings, hardwood floors, nice details. Ez access 24th Street & Church Street, shops, restaurant, Penninsula commuter bus, 101 & 280 S. freeways. Fantastic opportunity to own in Noe Valley!
- Type: Condominium Beds/Bath: 2/1.0 Parking: 1 Approx. Sq. Ft.: 0 (Not Available) MLS: 390724
$829,000 – 257 Lexington St, San Francisco, CA 94110
A Classic Edwardian 2bedroom/2ba top floor condominium in a recently condo converted two-unit building located on the famed 200 block of Lexington Street in the Inner Mission. Newly remodeled kitchen w/ granite countertops & stainless steel appliances opens onto a beautifully restored Arts & Crafts Dining Room w/ box beam ceiling and built-in leaded glass serving buffet – great for entertaining! Double parlor, fainting room, hardwood floors, period fireplace and mantel. Laundry room w/ in-unit washer/dryer; sxs garage parking and addt’l deeded storage. Great Inner Mission location, close to all the restaurants, bars, and boutiques that the Mission is famous for yet located on a leafy residential street w/ a real sense of community.
- Type: Condominium Beds/Bath: 2/2.0 Parking: 1 Approx. Sq. Ft.: 0 (Not Available) MLS: 392087
$998,000 – 826-828 Central Ave, San Francisco, CA 94115
Ideal for owner occupy vacant lower unit w/rental income from upper to help w/pymts – or hold as investment. Buy this remodeled NOPA duplex w/approx $70K down & assume existing loan or get own loan. Two nicely remodeled & spacious 2BR 1BA units w/high ceilings, nice light, wood floors, granite counters, & great location – just blks to USF, GG Park & restaurants/shops. No OMI/Ellis evictions w/potential fast track condo conversion. Huge basement. EZ street pkg & leased pkg avail for $220 mo.
- Type: 2 Units MLS: 391898
West of Twin Peaks Toward the Ocean…
$599,000 – 2206 48th Ave, San Francisco, CA 94116
Welcome to your new beach house! This 3 bedroom, 2 bath home features a full level, ocean view family room! Enter from the street level to a lower level bedroom and bath. The main level features 2 bedrooms, 1 bath, a large eat-in kitchen and a living / dining room with fireplace. The oversized rear deck leads to a spacious back patio. The top floor is full of windows and dramatic views of the ocean in this full floor family room. Just a 1/2 block from world famous Ocean Beach. Area amenities include jogging and bike trails, the San Francisco Zoo, dining and transportation.
- Type: Single-Family Homes Beds/Bath: 3/2.0 Parking: 1 Approx. Sq. Ft.: 1195 (Per Tax Records) MLS: 391597
$649,000 – 2534 46th Ave, San Francisco, CA 94116
Pristine 3BR, 2BA light filled home located in vibrant Outer Parkside. Many updates & improvements throughout which increase energy efficiency & reduces noise. Bright, spacious top floor features beautiful hdwd flrs, large living room, updated kitchen & dining area with bamboo floors, 2 bedrooms, remodeled bath, & skylights. Entry level has den, bedroom, & full bath. Kitchenette (unwarranted). Sliding doors lead to lg backyard. This level has a separate entrance. Yard is spacious, flat, landscaped /w fruit trees, is child friendly and features a lovely wind protected patio. Garage has ample storage & yd access as well. Only 2 blocks to Ocean Beach. Convenient location on L Streetcar line, near GG Park, Fort Funston & walking paths.
- Type: Single-Family Homes Beds/Bath: 3/2.0 Parking: 1 Approx. Sq. Ft.: 1432 (Per Appraiser) MLS: 391939
$749,000 – 156 Galewood Cir, San Francisco, CA 94131
Lovely Galewood Circle home located in the idyllic and wooded Forest Knolls neighborhood! Home features a spacious and open living room which opens up to a beautiful patio alongside a serene and very private wooded hillside. Formal dining area leading to an open kitchen with new stainless steel appliances. Fabulous master suite with large walk-in closets and vaulted ceilings. Updated flooring throughout, recessed lighting, and custom blinds! Bonus storage room off the garage with tons of space to store! Wonderful location close to excellent schools (the desirable Clarendon Elementary!), restaurants, shops, and open space reserves. Amazing value of $ per square foot!
- Type: Single-Family Homes Beds/Bath: 3/2.5 Parking: 2 Approx. Sq. Ft.: 2085 (Per Tax Records) MLS: 391851
$849,000 – 1252 Arguello Ave, San Francisco, CA 94114
You don’t want to miss this newly converted remodeled 2-Level condo in the sweet spot between Cole Valley and the Inner Sunset. The main living level features a charming living room opening to the dining area and remodeled chefs kitchen, Additionally on this level are 3 roomy bedrooms and a lovely full bath. Ascending to the lower level a family/entertainment room, the 4th bedroom and the second full bath. This level also leads directly to a deeded deck and shared large flat yard. Additional there is 1 car parking and storage. All this just steps to Golden Gate Park, UCSF Medical Center, Inner Sunset, Cole Valley and shops, cafes and public transportation.
- Type: Condominium Beds/Bath: 4/2.0 Parking: 1 Approx. Sq. Ft.: 0 (Not Available) MLS: 392039
And last, could this be Santa’s Workshop?
$2,195,000 – 920 Ashbury, San Francisco, CA 94117
Stately light-filled, Craftsman-influenced, 3-level corner residence on wide lot. Same owner for 50 years. Classic detail, spacious and open living room & dining room ensemble. Generous second floor master suite. Dramatic third floor family/recreation room with kitchen and bath and partial city views. Legal unit down plus separate basement area with laundy room, wine cellar potential and excellent storage. Charming detached cottage with kitchen & bath at back of lot. Attractive and serene landscaped garden. Parking pad for one car inside sliding gate. Tremendous opportunity for the right buyer.
- Type: Single-Family Homes Beds/Bath: 3/3.0 Parking: 1 Approx. Sq. Ft.: 5300 (Per Graphic Artist) MLS: 390999