Coming Soon! Russian Hill, remodeled charming unit with parking

Coming Soon! Russian Hill, remodeled charming unit with parking

Not in MLS! $735,000 This unit is located in a 6 unit building and has assigned parking, shared garden with deck and BBQ. The unit was remodeled a few years ago. The kitchen has granite counters, stainless appliances, breakfast bar. The living, dining and kitchen are in one large space, great for entertaining. The remodeled, marble bath has a deep tub and glass shower screen. Low dues make this the perfect Russian Hill unit. Photos and website coming the end of August. If you want to preview the unit prior to formal marketing contact listing agents. Angelica...

Transformed by the Boom: SoMa Finds Itself at a Major Crossroads

It’s a daunting task to keep tabs on all the construction in San Francisco’s South of Market neighborhood. Along all of the neighborhoods’ major thoroughfares – South Van Ness, Mission Street, Fremont and Market Street, to name a few – change is coming rapidly. Up until the recession, SoMa was a car-centric neighborhood; auto repair shops, gas stations and car washes were on every corner. These days, though, that is changing. SoMa is shedding its gritty, industrial past, and the neighborhood is evolving into a dense, high-tech, and, surprisingly, more residential corner of the city. Just look at the number of SoMa automotive businesses – one of the most common types of businesses here – that are set to be replaced with condos and office buildings. There are nearly a dozen or so projects like that in the works, including a transformation of the Chevron station at Howard and 9th. Plus, major redevelopment projects like the Transbay Terminal and Rincon Hill infill are completely changing car-friendly neighborhood. Compared to other areas in San Francisco, the scale and the pace of transformation in SoMa is unparalleled. Here, there are so many opportunities for infill and for higher density projects than anywhere in the city, and San Francisco’s Planning Department has noticed. The city has already streamlined massive redevelopments like the Transbay Terminal, and now, the planning department is in the process of rezoning the entire neighborhood, increasing height limits and rezoning for mixed-use and residential properties. In other words, we’re just at the tip of the iceberg of the SoMa development rush. By the end of the decade, the neighborhood...
Transformed By the Boom: Dogpatch Is Now Firmly On the Map

Transformed By the Boom: Dogpatch Is Now Firmly On the Map

San Francisco’s Dogpatch neighborhood wasn’t always a trendy, happening neighborhood. Chances are, until recently, most San Francisco residents wouldn’t have been able to point it out on the map. But beginning in the 1990s, developers began in earnest, transforming the neighborhood’s former industrial space into housing and commercial space. In fact, according to a recent report from the San Francisco Planning Department, more industrial space is being converted to housing in the Dogpatch than in any other neighborhood in the city. This rapid evolution has put Dogpatch squarely on the map. It’s now a favorite up-and-coming neighborhood, or as Huffington Post called it in 2013, “San Francisco’s newest indie neighborhood.” That rising popularity makes sense. Not only has the Dogpatch added loads of housing since the Dot Com boom, now trendy cafes, off-beat shops, and pop-up farmers markets are sprouting up on every corner. The rate of develop doesn’t seem likely to slow any time soon either. At least five condo buildings are set to rise in the next 18 months, the mega development at Pier 70 is hoping to break ground in 2017, and many of the neighborhood’s historic properties are being slated for conversion to lofts and upscale condos. Simply put, the up-and-coming Dogpatch is coming into its own. A Changing Landscape Dogpatch wasn’t much of a neighborhood prior to the 1990s. There were few residents, and the neighborhood was mostly home to warehouses and industrial facilities. Until recently, that gritty, industrial past was still visible, but with the recent spate of development, Dogpatch has mostly shed its working-class roots. This rapid change is causing property values...
Off MLS Property!

Off MLS Property!

This 2 level, house-like condo located in a coveted, walkable location on Russian Hill is a perfect full-time residence or Pied-terre. Part of a small 4 unit association located in an elegantly designed 1920’s European style boutique buidling. The unit has been renovated with high-end finishes and attention was paid to preserve the architectural detail including rich hardwood floors, moldings and high ceilings. The kitchen is a work of art with Arclinea Cabinetry, gourmet appliances and has been featured in California Home and Design Magazine. The 2 bedrooms suites are located on separate levels, for privacy, and each have ensuite bathrooms with marble floor, large amounts of storage, and contemporary fixtures. The upper level features a large formal entry, guest bedroom and bath, living area, large formal dining and modern kitchen.  The living area and guest bedroom have views of the private garden.  The lower level has a media/family room, separate office, master suite and access to the private garden and a separate BBQ area. Offers reviewed as received.  $2,795,000 Amenities Off-MLS Opportunity! Beautifully renovated house-like condo 2 levels, with bedrooms on separate levels 2 bedroom suites Den with accesss to private outdoor BBQ area Separate office Private deeded garden In-unit laundry 2 car parking Arclinea Gourmet Kitchen High-end appliances Stunning bathrooms Oversized open double master bathroom shower Perfect full-time residence or pied-terre 4 unit, well-run HOA – See more at:...

Exploring the Future of San Francisco’s Mission Bay Neighborhood

Since its initial approval in 1998, the Mission Bay redevelopment has completely transformed what was once an underutilized corner of the city. Thousands of housing units – market-rate condos, rentals and affordable housing – have risen from the empty lots, and office, commercial spaces and a state-of-the-art hospital and research center now call the neighborhood home. In many ways, the redevelopment is indicative of San Francisco’s recent boom in construction, swift new condo sales, and rapid growth in housing prices. Here’s proof: The median sales price for homes in Mission Bay was nearly $1 million in the first quarter of 2015, up more than 20 percent compared to the same time last year read the full info here. That’s spectacular year-over-year growth, and it’s been noticed elsewhere in San Francisco. Plus, new developments are selling out faster than ever. Arden by Bosa a 267-unit project sold out in months when it hit the market in 2014, which followed on the heels of the record sales at Madrone, another neighborhood Bosa development. But now, the pace of transformation is slowing, and the largest projects are complete or nearing completion. It’s been nearly two decades, but Mission Bay is no longer a redevelopment area. It’s one of the hottest neighborhood’s in the city. A Look at Mission Bay’s New Skyline The maddening pace of development has made it a challenge to keep up with all the developments in the neighborhood. Which projects are complete? Are there any notable projects under construction? Today, the neighborhood looks nothing like it did just a few short years ago. Here’s a look at the most...
Transformed by the Boom: Noe Valley’s Evolution

Transformed by the Boom: Noe Valley’s Evolution

All across San Francisco, neighborhoods are quickly evolving, with multi-unit buildings replacing underutilized parcels and single-family homes. The transformation is most evident in a select set of neighborhoods, like the Mission, Dogpatch, and SoMa, to name a few. Yet, established neighborhoods aren’t immune to the development rush, and the transformation is playing out in these iconic SF districts in more subtle ways. Noe Valley is a prime example. As recently as the 1990s, Noe was a rough-around-the-edges community; home and commercial spaces sat vacant and in disrepair. But thanks to the Dot Com years, the neighborhood rapidly evolved into what we know it today – an upscale, family-oriented neighborhood – Stroller Town as it’s now colloquially known. That evolution is continuing in this latest real estate boom. Noe has long been one of the hottest neighborhoods in the city, with listings sparking a bidding wars and aging single-family homes undergoing multimillion-dollar flips. Noe’s Victorian and Edwardian row houses – one of the largest concentrations in the city — are being replaced with modern, mega-square-foot castles. And retail property owners are looking to add square footage and housing along the neighborhood’s 24th Street corridor. The question remains: How will Noe Valley fare during the latest real estate boom? Will the neighborhood retain its quaint, manicured Victorian charm? Noe Valley’s Latest Transformation In recent years, Noe Valley has become a prime neighborhood for new home construction. Aging Victorian and Edwardian homes are being demolished and replaced with luxury mansions, at the chagrin of neighboring homeowners. Some of these projects are truly eye-popping: A 1,050-square-foot two bedroom was recently replaced by a...
A Modern Guide to Potrero Hill by 7×7

A Modern Guide to Potrero Hill by 7×7

This sunkissed San Francisco neighborhood invites you to have sweeping skyline andBay views, while browsing the eateries and shops of 18th Street. Still in the making and mostly undiscovered by tourist and locals alike, Potrero Hill life moves at its own pace, yet it has potential to become the city’s next top neighborhood.   Read the...

Number of Employed San Franciscans Reaches All-Time High

Recently, we posed the question on the blog, “Is San Francisco in a Housing Bubble?” Our conclusion: It’s not. Instead, the rising housing costs can be attributed to the law of supply and demand. Inventory remains extremely low, while the city’s well-paid workforce has grown rapidly since the recession. In fact, demand – i.e. more buyers and renters – is greater than ever. Here’s more proof of the growth in demand: Earlier this month, the state released updated data showing that San Francisco now has an estimated 520,900 workers – an all-time high. Consequently, the city’s unemployment rate dipped slightly to 3.6 percent, which is the lowest it has been 2000. Now, all of these additional employed residents, often in highly paid fields like technology and finance, are competing for a limited housing inventory. That’s one of the biggest reasons we’re seeing consistent overbidding, record fast turnaround, and exploding rents. Plus, at the same time, housing supply just hasn’t been keeping pace. Modest Development Leads to Low Inventory Another problem is that as the economy has recovered, the city has only produced a modest number of new units. To illustrate the point: Since 2009, the city’s workforce has grown by 20 percent, or by roughly 95,000 jobs. In that same timeframe, just 2,075 new units were added to the inventory each year, or a total of about 10,000 units. That’s a nearly 10-to-1 ratio of workers to new units. In fact, according to SF Planning 2014 Housing Inventory report, from 2011-2014 just more than 7,000 new units were added to the city’s housing inventory. Similarly, in that timeframe, employment...

Is San Francisco in a Housing Bubble?

By now, you’ve probably heard the speculation. The San Francisco real estate market is in a bubble. The speculators have their reasons. Real estate prices are climbing too quickly, they say. For instance, since 2011, San Francisco rents have risen by 50 percent, while average home prices have climbed 45 percent. Plus, they say, construction is booming. Cranes have popped up everywhere, and new developments are rising quickly in the south, around Hunter’s Pointe and Mission Bay. That’s partly true, development is ramping up. Last year, San Francisco added roughly 3,000 new units, compared to a historical average of about 2,000 units per year over the last decade. This year, new construction will outpace that 3,000-unit count. In fact, there are roughly 7,000 units under construction. So what’s the conclusion: Is this the next big Bay Area housing bubble? Or is the city’s bullish housing market being driven by deeper issues? Is this just a classic case of supply and demand? Rising Home Prices in San Francisco It’s true that home prices have exploded in the city since 2011. But homes in San Francisco are only slightly overvalued. In fact, according to Jed Kolko, an economist for Trulia, home prices in San Francisco were overvalued by 12 percent at the beginning of 2015. That may sound like a cause for alarm. But remember that at the height of the 2007-2008 bubble, overvaluation had risen to more than 50 percent. Plus, overvaluation, in and of itself, doesn’t necessarily indicate a housing bubble. It’s more complex than that, and it’s often tied to wage growth. Here’s another way to look at...
San Francisco Condo Watch: New Construction Inventory to Grow in 2015

San Francisco Condo Watch: New Construction Inventory to Grow in 2015

Several new developments in San Francisco have started selling in the last 6 months, and it’s clear that the market isn’t losing steam. It took just a matter of months for projects like 870 Harrison and Amero in Cow Hollow to sell out completely. And Arden in Mission Bay, a 267-unit development, set speed records for selling through its inventory in a just a few months. Since then, sales have been swift elsewhere, which has resulted in a dwindling supply of new construction condos in San Francisco. Fortunately, that’s likely change in 2015, as a host of new developments are coming online. Here are some developments to watch in the next few months. San Francisco Developments That Are Actively Selling The most notable development to hit the market recently was the Lumina building in SoMa. The demand for these ultra-luxury condos has been unbelievable; the first 270 appointments were booked, an hour after the sales office opened. And all 52 first-phase units were under contract in record time. Currently, 160 units are under contract, and the sales office only opened the first week of October. Other projects across the city haven’t sold as quickly, but sales remain steady. For instance, the much-buzzed-about 8 Octavia, which opened in late summer, has sold through the majority of its 47 units. Currently, there’s just a handful left. And in Mission Dolores, just off of Market Street, the majority of units at Thirsty-Five Dolores are under contract. Plus, there are about 50 units available at Vida in the Mission. Not as surprising, it appears sales have been slow at two ambitious projects that...