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Tag Archives: San Francisco Luxury Homes
As you know inventory in San Francisco is at its lowest mark in more than seven years. With such a low supply comes steeper competition which can put 1st time homebuyers at a disadvantage. I like to look at it as an opportunity to be informed and prepared. (Tips at the end)
Evaluating property and the market.
With low inventory the first time home buyer may be going up against investors who are also targeting the bargain-priced or lower priced homes that are in the same pool in which you are looking. Investors and contractors come to the table with buying power, large down payments and/or cash, which can edge you out of the deal. One strategy is to prepare to compete.
In a Sellers market, a strategy that is often employed by listing agents, are to list the homes for well under the market, in hopes of attracting a large number of offers. This means each home must be individually evaluated against the market to see if this is the case. If so, the buyer must be prepared to bring their offer in at the regular market price which can be substantially, sometimes $10k-$100k or more over the inappropriately low asking price. Just because a price is listed, it does not reflect the market value or the actual final purchase price range. Conversely, some homes do not require an overbid and your agent will be able to advise you accordingly. Continue reading
I just SOLD Unit #12 to my ecstatic Buyer for $535,000. Only 2, Two Bedroom Units are left! #9 is offered for $519K. What? Make sure to stop by and soak up these chic and beautiful, fresh remodels featuring hardwood floors, recessed lighting, new stainless appliances, parking and storage.
Enjoy a Modern | High Tech Open Living, Dining Kitchen Floor Plan filled with light from oversize double pane windows. New Stainless Steel Fridge, dishwasher, range and microwave. Your two huge bedrooms are on either side of a spa like bathroom and the home features an in-home laundry with new machines. Take in the famous & enormous Downtown and Twin Peaks Panoramic Bay views from your private balcony.
A Few blocks from Molly Stones , Glen Canyon Park and centrally located in the middle of San Francisco for North or South commutes. Set beneath a green median and upon the hillside makes it private and accessible. A tremendous value for the location and comparable units currently on the market. Everyone who has purchased is delighted with their “find”. Just right for the first time home buyer, student, professional, bachelor or bachelorette or a light and bright pied-a-terre. Come and See me!
Showing by: Erika Burke 415.321.7076, [email protected], DRE#01386234
Listing Agent, Vanguard Properties, Jonathan Deason
As Reported by the San Francisco Association of Realtors (SFAR), April Market Focus Report.
Reporting on Single Family Home and Condominium Sales in San Francisco and the state of our current market plus future projections. Low Inventory, rising prices, lots of buyers, high end is moving. Sellers should feel confident to list during this opportune Seller’s Market.
As Inventory Remains Low and Unchanged,
San Francisco Homes Sell Even Faster
Just as last month, many new home sellers continue to have confidence that the market is on an upswing and that housing prices will soon accelerate. As a result, the vast majority of them have decided to hold off on listing their properties for sale, keeping the city’s inventory low. Making matters worse, the flow of distressed properties from the banks has lessened, making it more difficult for buyers to find properties even though interest rates have remained low. The congruence of all these economic factors occurring at the same time is resulting in the current seller’s market, where sellers have more leveraging power over buyers who are competing against a limited pool of properties.
Single-Family Home Sales
While the city’s inventory of single-family homes for sale dropped by 29.4 percent compared to March 2011, it did not exceed February’s level this year. Still, despite the low inventory, the number of homes under contract continued to improve by as much as 19.9 percent compared to this time last year, while the number of homes sold fell by only a slight margin of 2.8 percent.
For homes that were priced below $700,000, the months of supply inventory fell by 65 percent to one month. For higher-priced homes between $700,000 and $1.2 million, the months of supply inventory fell by 56.1 percent to also one month. It comes as no surprise that a number of real estate web sites currently rank San Francisco high among the nation of cities where homes sell the fastest.
One region of the city which continues to experience healthy sales activity is the area in the mid-western part of town, known as Twin Peaks West. Since March 2011, the number of homes under contract here has risen by 14.7 percent. Twin Peaks West has a total of 16 neighborhoods, with Mt. Davidson, the highest natural point in San Francisco, at its center. With its elegantly landscaped streets and a variety of architectural styles, including Craftsman bungalows, Mediterranean, and Mid-century, homes here are very desirable. The median price for a home in Twin Peaks West is about $837,500.
Yesterday, I toured San Franciscos’ Luxury Tower, The Millenium with my colleague, Uche Nchekwube, M.B.A., Realtor at Vangaurd Properties. We were greeted by the valet as we drove up and met by the buildings’ concierge who escorted us to our private showing appointment.We had the luxury of viewing the gorgeous homes currently offered for sale.
Our showings consisted of a visit to the City View residences, loft like urban dwellings with seamless finishes like marble bath and kitchen, soaking tub, sleek cabinetry, picture windows, and urban views! Very modern, streamlined and sophisticted. The hallways are quiet, plush and serene. Then we were escorted to model homes at the ‘Residences’, 1 and 2 bedroom homes on the lower floors and the slightly larger, Grand Resdiences with stupdendous views, on the upper floors. They have numerous floor plans to choose from, for each Residence group. We saw Floor Plans A, C and F, each featuring something specical, an extra walk-in closet, a guest room/office, a den, more square footage, a commanding view, a new and different lay out! It’s easy to see why the most exclusive buyers are making the Millenium their home. It’s fresh, clean, beautifully designed and luxurious. Everything has been thought of for you in terms of surroundings, service and comfort.
There are enormous views available of the City and the bay and our colorful urban landscape. In our busy lives, the Milleniums’ Owners’ level offers the relaxation, socialization and comfort that one would book a resort stay for. Spanning the entire lower level, you will find a temperature controlled wine storage locker, a wine tasting room shaped like a wine barrell, an owners lounge with the latest magazines & periodicals with a fireplace, private dining room, and a snack/coffee bar. If that’s not enough you can take advantage of the movie theater, the indoor swimming pool, the private spa rooms and lounge by the enormous fireplace on the outdoor terrace. Wanting to exercise, there is a workout room, pilates studio and fully equipped gym, plus a play room for the kids. The concierge on this level can arrange any private party or event in any room on this level for you.
At every turn The Millenium offers an air of luxury and sophistication that is evident from the moment of entry. These homes demonstrate the exclusivity that is sure to appeal to the most discerning city dwellers and home owners. Allow me to fill you in on some of the features and benefits of these homes and schedule your private showing. Reach out at 415.321.7076 to view at your convenience.
Dress for Success truly puts on an elegant show and knows how to entertain us while we loosen our purse strings, bid on the auction items, pick up a few holiday gifts while giving to a good cause.
The Lovely Ms. Rodriguez, having benefited from the programs tutelage, was our guest speaker, letting us all know how DFS helped her define her career goals, spurned her to “get in shape” and has made her want to give back in her own life! Truly inspirational. Continue reading