And we’re back. We’ve been pretty busy over the past few weeks as you’ll see below helping folks buy new homes, prepare existing homes for sale and, well, selling those. Things are taking a different amount of effort, time and patience these days, just like everything else, right? 

We took a deep dive into the sales data from 2019 and 2020 comparing the first 10 months of each year and found that, for the most part, we’re still seeing strong and steady sales numbers for most parts of the City despite the Pandemic and wildfire smoke. Because of that the demand for single-family houses is, and remains, strong (more people wanting to leave stacked living buildings or realizing they want their own outdoor space) while condominium values have declined in general but only just so — both the median and average condominium sale price figure fell about $20,000-$40,000 from 2019 to clock in at $1.24 million and $1.35 million respectively. This despite that the active available inventory on the MLS is nearly twice the normal at just about 2,000 active listings for houses, condos, TICS, co-ops, parcels of land and 2-4 unit buildings as of this writing. And the purported emptying of San Francisco is a bit premature as the tragic and now more frequent wildfires have shown, there are fewer and fewer places that we can go lest we run the risk of seeing our homes go up in flames or otherwise.  

Check out the data below and, be sure to check out our latest listings below. 

The first is just a block away from Alamo Square at 1329 McAllister — a grand, top-floor, 4-bed Victorian condominium (you know the type we’re talking about). Next, we have a serene and premium condominium right in the heart of the Fillmore a stone’s throw away from State Bird Provisions at 1310 Fillmore, which is the rare full-service, modern building that’s not on the north side or east side of town; residence 609 is unlike what’s sold in the building... ever. Our perfect Potrero Perch at 875 Vermont Street is ready for someone who wants a turn-key home that’s just been updated to be catalog-perfect that has parking and in-unit laundry for under $750,000. 

Be sure to read about how another of our listings at 65 Hermann Street — a brightly updated and stylish 1-bed, 1-bath, 1-car parking condominium — sold after less than a week on the market; about how our listing at 32 Dorland Street — a 4-unit Mission Dolores income property — fared after it closed last week and our recent client wins, of which there have been many. 

Moving on, here’s what we’re seeing out there now:

• More and more agents are using Calendly or ShowingTime to book showings at each other’s listings and many of the properties we want to take clients to go see book up quickly. So, if there’s something you want to see that just hit the market, let us know ASAP. This is another indication showing that we as agents have adapted and have started using scheduling and booking tools like these as it’s pretty hectic out there. 
• Yes, there is a record amount of inventory on the MLS now — nearly twice as normal — but a lot of properties are selling fast nonetheless especially if it’s a single-family house with outdoor space or otherwise have that something extra.
• It’s touch and go for sellers (and buyers) in the SOMA/South Beach/Mission Bay area now because of all the reasons you can think of related to working from home, reduced access to amenities and businesses that made the areas attractive in the first place. But patience is the name of the game in these parts of the City now given the pandemic’s impact on where people is still evolving with many people realizing that working from home is not the optimal work/life balance that ensures a happy and productive (and sane) work force. 
• Mortgage rates are extremely low but credit requirements for mortgage approvals are also getting more scrutinized in many cases but this depends on which lender is doing the scrutiny.  
• It’s taking more time in general for properties to sell but that’s okay and to be expected given that we are still barred from having in-person open houses.
• The dynamics of real estate have become more intense of late. Sellers are getting more involved than usual (which is a combination of WFH, nerves and excitement we suppose) while buyer are being more choosy but also lacking the option of having open houses to see that helps people sort and filter what they like and don't like. This is why we’re seeing more property videos and 3-D tours for sure but this also highlights just how important open houses were and how important in-person property presentation is too (and why virtual staging is a risky proposition).  

As always, thank you for reading In the Know. We have more than 810 subscribers and our readership keeps expanding. But we can’t do it without you, your referrals and your loyalty. We know how the definition of home has take on an entirely deeper level of meaning for all of you and we are deeply honored to be able to have helped you and yours in securing yours.

We thank you for thinking of us anytime real estate comes to mind. Stay cool, safe, healthy and happy! 

 

Kevin K. Ho, Esq. 
Vanguard Properties 
Broker Associate | Attorney | Top Producer | REALTOR
DRE 01875957 | SBN 233408
(415) 297.7462 | kevin@kevinandjonathan.com







Jonathan B. McNarry 
Vanguard Properties 
Broker Associate | Top Producer | REALTOR
DRE 01747295
(415) 215.4393 | jonathan@kevinandjonathan.com


Raffi McNarry-Ho 
Vanguard Properties
Real Estate Super Dog 

A BUYER WIN: Big Views From Twin Peaks
Congrats to our Buyers Jon and Alison for getting their offer for a great 2-bed, 1-bath, 1-car parking, view TIC unit at 20 Crestline #10 into contract. Having reached out on a Saturday morning, seeing it in person on that Saturday afternoon, we were in contract the next day as we wanted to act quickly before another set of buyers went back for a return visit. The only question here was which TIC lender our very-well qualified buyers — a transparency in tech expert and a filmmaker — would pick: NCB, the Bank of San Francisco or Patelco. (Note: Sterling wasn’t on that list, ask us for details), Ultimately, NCB’s rates, professional approach and overall dedication to getting everything in place in a short amount of time is what carried the day. Listed at $940,000, we are in contract just above that for this 970+ sqft 2-bed, 1-bath home with a lot of customized updates including live-edge shelving, laundry and more. Closed a day early for $975,000 with no glitches. 

 

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ANOTHER BUYER WIN: The Perfect Start Line (and Finish Line) 



Congrats to our Buyer Michael on his offer getting accepted over at 2001 McAllister. Having been introduced to us by a set of physicians who bought their steal of a deal home in the Oakland Hills, Michael (also a physician) was looking for the perfect 1-bedroom that not only was move-in ready but close enough to run to (and through) Golden Gate Park as our client is an avid runner. The coincidental part here is that the clients who referred us Michael lived in the building at 2001 McAllister (by Masonic behind the Lucky’s). Having hung out with them there, Michael already knew he liked the building so when he found the listing for number 319, a top-floor, 1-bed, 1-bath, 1-car parking unit with laundry, we sprang into action so that we saw the property on a Sunday morning and were in contract the Tuesday morning after. Listed at $750,000 we closed a two days early at $775,000.
 

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A SELLER + BUYER WIN: Mission Dolores 4-Unit Building on a Quiet, Non-Power-line Street



Congrats to our Buyers and our Seller for finally closing a long-haul sale of a great, maintained, A+ location, 4-unit building that our seller bought when I was in high school (aka, a long time ago). After owning it for years, he decided it was time to leave San Francisco's apartment house market given the attention and nuances it presents. After listing it for a couple of weeks a set of buyers at the other end of the spectrum — wanting to get their first multi-unit investment property — reached out to us and it was a match. Wrapping up some tenant-related questions (our advice: be sure to get things in writing) took some time as did lining up access to each tenant-occupied unit. That being said, we got it across the line and congrats to everyone! 

1329 McAllister Street
A big grand Alamo Square, Top-Floor, Grand Victorian condominium with space, a rich mix of history and modern convenience

There are 1, 2, 3 ... 4 bedrooms and nearly 1,900 sqft at 1329 McAllister Street. Our sellers just finished a big kitchen remodel when they decided to list this amazing historic home with us. Listed at $1.695 million and a block away from the Painted Ladies at Alamo Square (which also has a playground, massive off-leash dog area that Raffi approves of, and, of course tourists) this home won’t last for long. Check out the 3D tour and video below. 
 

1310 Fillmore St, Residence 609
A Premium Home with Views and Serenity

Singularly above the rest, residence 609 is a premium + meticulously maintained home. You’ll be impressed with sweeping + gleaming views north to Lafayette Park + beyond. The newly gleaming kitchen is wrapped in new white quartz, lit with new LED lighting + equipped with new stainless appliances including a 5-burner gas range. With ample counter space for the chef + non-chef alike, dazzle your friends perched at the high-top bar area with your culinary skills. A lavishly lit pantry + laundry closet accentuates how comfortable life can be here. 609’s large bedroom has a generous walk-in closet; its bath features a treat-yourself Japanese-style toilet. Thanks to concrete construction, 609 is serene, safe + sound. 609 comes with deeded parking. And, 1310 is a modern building with a 24/7 attended lobby, massive outdoor terrace, large dog-run/play area + two elevators. Set in the vibrant Fillmore District your location is immediately central with food, groceries + shopping at your doorstep.

875 Vermont Street, Number 204
The Perfect Turn-Key Potrero Home

Speaking of homes that are unlike anything else in the buildings in which they find themselves, take a look at residence 204 at 875 Vermont Street, which is the first to have hit the market that’s located on the back courtyard side of the building, which cuts down on noise signficantly. This turn-key home has the rare combination of a fun location (less than a block away from a dog park on the curviest street in the City, sorry Lombard Street), parking, in-unit laundry, outdoor space and a space that is not only flexible but one that lives and feels larger than you would think.

65 Hermann St, Number 3
The Architect’s Home

Speaking of homes that are unlike anything else in the buildings in which they find themselves, take a look at residence 204 at 875 Vermont Street, which is the first to have hit the market that’s located on the back courtyard side of the building, which cuts down on noise signficantly. This turn-key home has the rare combination of a fun location (less than a block away from a dog park on the curviest street in the City, sorry Lombard Street), parking, in-unit laundry, outdoor space and a space that is not only flexible but one that lives and feels larger than you would think.

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For other videos and to watch one of the hundreds of property walk-throughs we’ve done over the years, visit our YouTube channel here.

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Remember, the following is based on what we’ve heard and learned from our colleagues and others in the business. While generally reliable, you all know these things can be subject to change as the darndest things can take place during escrow.
 
The big house over at 627 Waller Street is a Queen Anne Victorian that is still, well, Victorian. Listed at $4.195 million the 5-bed, 4-bath, 3,900+ sqft house was listed as a “coming soon” listing and was on the open market for a week before they took offers. The very ornamented house was exactly what one set of buyers wanted in a house. Having lived in the area for a while these buyers had been paying attention to what was on the market and as soon as the sign went up they got in to see the property, wanting to put in a preemptive offer. After being told to wait these buyers ended up going in with a lower offer in anticipation of competition, of which there was only one other offer. In the end, these buyers wound up winning the property for less than they would have otherwise paid preemptively. As such, the property is in contract under $4 million. 

’Cause mom and dad said so... 83 Seward Street, an updated single-family 2-unit home in this small curvy street that we know well that leads to the Seward Street Slides, was listed at $2.5M having been bought and remodeled a few years ago at $2.1M. With 4 sets of offers on offer date the people who got it had to have it as there parents live across the street. In contract just above list. 

A new-build house at 209 Prentiss (right a where Cortland takes a little bend as you come up from Bayshore) is indeed unique. With an ultra-wide 50-ft frontage the lot was also very shallow, some 30 feet meaning the parcel is only 1,520 sqft big. With nice, modern finishes the skinny-wide house was listed originally at $1.995 million. After the property was on the market for 50 days on market there was a price drop for the 3 bed, 2.5 bath, ≈ 1500+ sqft house to $1.88 million, which is what one set of buyers who had been eying it for a while got it for.  

And then it came onto the market. A relatively recent build condominium was just the type one buyer had wanted for a while now. After watching and tracking the market for a while, they pounced as soon as 560 Missouri, a 3-bed, 3.5-bath, top unit with 1450 sqft hit the market with $1.795M list. Within a few days on market they visited and wrote a just-under list offer that was accepted.  

The cute house at the edge of the Inner Mission, just 2 blocks away from Precita Park, at 1420 Alabama had 25 showings in the first few days of its debut. Watch our walk-through here. The decently updated home nevertheless has potential and a slightly different layout (the top floor fit in 3 bedrooms under a pitched roof but in a line instead of the typical two-rooms-in-front and one-in-the-back approach), expansion potential on the ground floor and a cute yard. Listed at $1.695 million there was a preemptive offer that, after being asked to come back on an offer date, beat out 2 other offers that came in just about 5 percent over list. 

Over at 1951 Golden Gate at Lyon Street a ‘3’-bedroom, 2-bath condominium where the 3rd bedroom is really a detached structure classified as a ‘storage’ area was listed at $1.55 million. There’s 1-car parking and finishes are nice with some nicer touches in that transitional finish kind of way. With 1,240 sqft in the main part of the farmhouse-like building and another 250 for the third room, there were 4-5 interested sets off buyers within the first 10 days of being on the market with one stepping up to get the property at list price. 

Sometimes a property needs a receptive and especially understanding buyer, which is the case for the single-family house at 681 Peralta in Bernal Heights. Peralta is set on the eastern slope of Bernal, which is the valley above 101 (in fact, there were some houses that were picked up from 101’s path and set in new locations nearer to the southeastern slope). With 1,450 sqft, 3 beds, 2 baths and a list price of $1.495 million there was a steady stream of interest but the freeway noise proved to be too much for most folks to handle. But it proved just fine for one set of buyers who had been renters across the street in the past. After coming in at $1.45 million and a round of countering the house is in contract at its $1.495 million list. 

455 Upper Terrace, #5 at Clifford Terrace is a 2 bed, 2 bath, 1,045 sqft condominium in Ashbury Heights/Corona Heights with massive views of the skyline and northwards towards USF and beyond with a 2007 kind of feel — flagstone and Brazil wood — despite its mid-century origins. With 1-car parking, top-floor status and roof deck the condo was listed at a strong $1.499 million. After failing to sell, a reduction to $1.469 million did just the trick as the property went into contract less than a week after the adjustment. 

An upper unit with 2 levels at 1009 Caroilina in Potrero has a vaguely updated 1990s feel but, what’s more important, is that it has sweeping views the City and its surrounds. With 2 beds, 2.5 baths, 1,380 sqft and parking the property was listed at $1.249 million and with 10 showings in the first few days it was in contract in about a week at about 10 percent over its list price. 

Hrmm, if they can do it, can we? A big single-family home at 1076 Hampshire at 23rd Street is a 4-bed, 2.5-bath, 3,000 sqft house with 2 parking spaces and is one that is much bigger than it seems. Listed at $2.795 million and in contract near that figure. the more interesting part of this story is that buyers here live in a condominium they own on Bryant Street. After seeing another unit in their building go into contract they thought they may give the market a whirl and after seeing three homes in three days were in contract on this one within three days. 

Calling the question. 41 Miraloma Street, an extensively remodeled house with 4 beds, 3.5 baths and 2,400 sqft. Listed at $2.195 million it came on in August with interest tapering off as time went along. After 20 showings, 8 disclosure packages out and 3 circling buyers the agents set an offer date to drive activity and one came in at about 3 percent under list. 

Strong in Bernal. Over at 326 Virginia, a cute 3-bed, 2.5 bath, 1-car parking Queen Anne Victorian that’s been updated nicely with 2,200+ sqft came out to much ado with a $1.995 million list price. With a relatively large lot for the area two sets of buyers moved early and the property quickly went into contract 15% over list.