Category Archives: Inner Mission

Five White-Hot Districts In A Red-Hot San Francisco Real Estate Market

July 2013 Special Report

Virtually every area of San Francisco and the Bay Area has been experiencing dramatic home-value appreciation in the past 12 to 18 months. Some that were hard hit by distressed property sales, which experienced the largest price declines, have surged in price but remain 20% – 30% below previous peak values reached in 2006 – 2008. As a state, California is still about 25% below its 2007 pre-crash median home price. And in San Francisco itself, many if not most neighborhoods now appear to have re-attained or moved slightly beyond previous high points.

But in this past quarter, a handful of neighborhoods and districts in the city have leapt well beyond the highest average home values achieved in the past. Interestingly, comparing these white-hot areas with one another, there are often huge differences in property type, era and style of construction, and neighborhood culture or ambiance. But all of them have been very affected by affluent – often newly affluent – high-tech professionals of one age group and level of affluence or another. Naturally, these neighborhoods are highly desired by other buyers too – often professionals in finance, bio-tech, medicine and law – but the high-tech-buyer dynamic has generally super-charged these markets in particular.

However, please note that the difference we’re talking about between these neighborhoods and the rest of the city is between white hot and red hot: Quite honestly, they’re all very hot markets right now.

The Inner Mission 

Super hot, super hip, generally young: this neighborhood has seen very dramatic changes since the early nineties as a classic process of gentrification occurred — changes which have recently accelerated. Houses here are often large, classic Victorians, while the condos are mostly modern, built within the last decade or so. This area has a large, vibrant and diverse commercial district centered around Mission and Valencia Streets, but is still close to Noe Valley and the Castro. This chart focuses on the condo market, in which values are approximately 15% above the previous peak.

Noe Valley – Eureka Valley (Castro) – Dolores Heights 

These neighborhoods are part of a district that includes Cole Valley, Ashbury Heights, Clarendon & Corona Heights, Duboce Triangle, Mission Dolores and Glen Park, all of which have seen enormous recent appreciation. Housing here is typically older, built in the first 4 decades of the last century; there are many parks for kids and pets; the streets are tree-lined and the ambiance of the neighborhoods is relaxed and family friendly. This district surged in popularity and price in the mid-late nineties, was one of the last to peak in value in 2008, and has been at the forefront of the market rebound which started early here, in 2011. Among other advantages, it has relatively easy access to highways south to Silicon Valley. The district also has a large condo market, but this chart focuses on house values.

South Beach & Yerba Buena 

After the Embarcadero freeway came down in 1991 and then AT&T Park built in 2000, this area changed from a place for B-class offices and car stereo installations to the home of some of the most dramatic and expensive condo and loft buildings in the country. More condos are now sold here than anyplace else in the city and high-floor units with staggering views often sell for millions of dollars – one sold for $28 million. It’s popular with a number of demographics – high-tech and bio-tech workers working in offices nearby in SoMa and Mission Bay, financial district professionals, and empty-nesters who want to enjoy city life and have all the amenities, but without the responsibility of maintaining a house. Affluent foreign buyers are also a significant segment. Its neighborhood ambiance is very urban. This chart is for condos below the price of $1,800,000, but the dynamic for ultra-luxury condos is also white hot, with an average dollar per square foot value of over $1200.

Bernal Heights 

Like Noe Valley and Glen Park, Bernal Heights was originally a blue-collar neighborhood filled with Victorian houses. Noe Valley soared in value first, becoming wildly popular, and now people who want a similar family-friendly neighborhood ambiance, but at a more affordable cost, have increasingly turned to Bernal Heights. It also has easy access to highways south to the peninsula.

 

Hayes Valley-North of Panhandle (NoPa)-Alamo Square

This condo market is made up of two totally different types: Edwardian flats that have been turned into condos and brand new, ultra-modern condo developments. The Hayes Valley commercial district is very hot and hip, similar to, but still different from the Mission’s Valencia Street. Buyers who are priced out of the nearby Cole Valley-Haight Ashbury condo market often look here for a similar neighborhood ambiance at lower cost. Hayes Valley is also close to the Civic Center cultural cluster of museum, opera, symphony, ballet and other performing arts, which appeals to another buyer demographic as well.

To put all of these charts into one simple suggestion: It’s a great time to sell your property in San Francisco, and our market desperately needs the inventory!

If you have questions or would like information regarding a neighborhood not listed above, please contact us.

San Francisco Real Estate Market Update, Recent Sales, And IPO Madness

Another week, another issue of sfnewsletter sent. All kinds of great market info and real estate p*rn for you to peruse. Including many off market opportunities I’ve already mentioned here.

Have a great weekend!

-Latest issue of sfnewsletter/MarketTracker

Winner: The Best Coffee (House) In San Francisco, And The Rest

Congratulations to Philz Coffee! You have been voted Best Coffee (House) in San Francisco by the people of the internets. The competition was linked to around the world, and we have to say Philz not only got tons of nods during the first round of nominations, but they also swept the voting when thousands more hit the polls.

It’s all good stuff and we can’t wait to get a cup. We appreciate everyone’s participation and the countless links that sent people this way.

The Rankings:

1. Philz Coffee
2. Bernie’s
3. Blue Bottle Coffee
4. Four Barrel Coffee
5. Martha Bros Coffee
6. Contraband (Coffee Bar)
7. Ritual Coffee Roasters
8. Farley’s Coffee
9. Java Beach
10. Sightglass Coffee
11. Peet’s Coffee & Tea
12. Caffe Roma
13. the Beanery
14. Intelligentsia Bar (In Specialty’s)
15. Caffee Trieste
16. Stumptown (Ma’velous)
17. Henry’s House of Coffee
18. Simple Pleasures
19. Barefoot Coffee (Epicenter Cafe)
20. Café La Taza
21. Starbucks (Really?)
22. Caffe Puccini
23. Trouble Coffee (De La Paz)
24. Velo Rouge Cafe
25. Caffe Greco
26. Verve Coffee Roasters
27. De La Paz Coffee (Trouble)
28. Hearth Coffee Roasters (Brown Owl Cafe)
29. Graffeo
30. Bello Coffee and Tea
31. Quetzal Coffee
32. Jeremiah’s Pick Coffee
33. Coffee to the People
34. Piccino Cafe
35. 7-11 (Humoring you)
36. Progressive Grounds
37. Showplace Caffe
38. Castro Coffee House
39. La Boulange
40. Matching Half
41. Wicked Grounds
42. Farm:Table
43. Blue Danube
44. Cafe Reina
45. Toy Boat
46. The Coffee Bean & Tea Leaf
47. The Summit SF
48. Curbside Coffee
49. Rancho Parnassus (Thanksgiving Coffee)
50. Tully’s
51. Capricorn Coffees
52. Cavalli Cafe
53. Equator Coffees & Teas
54. Muddy’s Coffee House
55. The Coffee Roastery
56. Cup of Blues
57. Cafe Encore
58. Ecco Caffe
59. Stella Pastry & Cafe
60. Coffee Roaster
61. Manning’s
62. Dash Cafe
63. Javalencia Cafe
64. Cafe La Stazione
65. The Grove

We’ll just go ahead and stop there. There were another 25-30 one vote coffee (houses) that came in, but we gotta stop somewhere. Thank you everyone!

Mission District “Is Our Backyard”-Says Potrero Hill

[Image Source]

Every so often older posts get comments that are so good, I just can’t pass up posting them right front and center on the home page. This one came in on an old post we did about La Mission District and just how cool it is.

Sorry Mission District, according to this Potrero Hill reader you’re nothing more than their “backyard”.

Potrero Hill is SF’s best neighborhood TO LIVE IN for these reasons:

1) VIEWS – don’t have one? Step outside, you get one every time you head towards any of the other neighborhoods or just to get a cup of Farley’s coffee. Can’t do that? Watch a commercial or movie, it’s likely it includes a scene shot from here.

2) PARKING – every one of the other neighborhoods has you looking and wishing you could drink and drive while looking.

3) SUNSHINE – if we don’t have it, neither do you. If we do, you probably don’t.

4) PROXIMITY – 280, 101, 80 and trains and the #10 make getting up and down the peninsula or to the East Bay, or to the beach or along the Embarcadero or FiDi or the ballpark a snap. Bernal, Bayview, Glen Park, Mission, Noe, Castro, Soma – are all neighbors, in fact La Mission is our backyard. Every thing else is really minutes ‘cept for the Golden Gate Bridge or Golden Gate Park which really is meant for a lovely drive anyway.

5) COMMUNITY – it’s tight and effective and gets more and more inclusive vs. many of the other conformist, hands-off-the-merchandise ‘hoods. This means childless hipsters, muralist breeders, biogeneticists, game designers, street soldiers, old-timers, turistas, baristas and anything with paws come together for the Good Life. And it’s small enough that everyone knows your name, “my friend”.

Touché!

-San Francisco’s Coolest Neighborhood…La Mission, Hands Down [theFrontSteps]

“Fastest Sales-Cycle For New Home Development In San Francisco”

Generally, we shy away from posting media blitzes on our site as they usually are simply a way for us to publish a sales pitch, but this time given the state of the housing market across the nation, and here in San Francisco, we thought this PR push worthy of a mention at the very least.

Union by Palisades, a new residential condominium and loft development at 2125 – 2101 Bryant Street, “has concluded the fastest sales-cycle for new home development in San Francisco this year, and at an average price that exceeded many luxury high rise properties. Between January and September of 2010, Union closed transactions on all 76 homes…”

That’s pretty impressive, and great to hear buyers are out there, loans are funding, and deals are closing.

-Union by Palisades [website]

Art Studios Can Be Hockey Rinks Too

It’s for sale ($2,950,000 from an original $3,295,000), or rent ($15,000 per month). It has 3 bedrooms, 5 baths, a wood-burning fireplace…and is that a hockey rink?

hockey

It’s not a hockey rink (duh!), but it sure as hell looks like that guy is getting ready for a mean slap shot (or painting with a long roller! Come on, you think we’re that dense?)

-1417 15th Street, $2,950,000 [sfnewsletter.com listing detail page]

A Worse Punishment for Sisyphus: Policing Noise in a Metropolis

Hello out there, theFrontStep Readers! You may (or just as likely, may not) know my name from my blogs for Redfin. I’ve kindly been invited to write also for theFrontSteps, so here I am, on the steps, with my first blog.

So here’s the setting: last night, 2:00am, sultry night, people walking up from the bars, falling down, giggling. That noise doesn’t bother me much. I’d have to be a hypocrite if I tried to pretend I’ve never, after closing time, made too much noise under someone’s window as I staggered home. But another noise does bother me: some a-hole flooring his car and slamming on the breaks as he reaches the stop sign in front of my house. Then, from fully stationary, he floods the car again, tyring to go from zero to sixty instantaneously. Then he screeches off, circles the block, and comes back to do it again.

But we all live in a city. We can’t really expect quiet, can we? We can hope for it, and maybe in some areas, get it most of the time. But in the end, we’re sharing with a lot of people, some of them loud and possibly crazy. That’s why this new law aiming to curb SF noise interests me. Continue reading

18th & Mission: a reader asksed…

Quite a while ago, we put this post up, and actually received a fair bit of insight. But we finally got a bit more scoop from the source, so here it is again, update below.

“What’s up with the building at corner of 18th & Mission? Work has recently started again. This project sat dormant for about four years. There was formerly a Vietnamese veggie market there. The owner told me years ago he was developing condos there. Anyone know what caused the four year construction shutdown? And what is the final project to be? Great to have something on this blighted corner.”

18thmission.jpg

Photo: Intersection of 18th & Mission

I know nothing, have no pictures, and need some help from the Stammtisch or anyone else that cares to enlighten us.

Update: “There are 23 condos being built and we’ll begin marketing them in a few months. The original market owner is still developing the property (after lots of trouble) and will be opening a new and improved market on the ground floor.”

Can’t wait for the pictures and tour! Thanks Josh!

“not much siren noise” at 960 Potrero

We love when our readers (AMinSF) come through with quality finds such as this at 960 Potrereo asking $949,000:

960potrero.jpg

so, does this listing deserve the retarded RE agent of the year…err…month award? (we’re barely into mid-january!) somebody needs to enlighten the agent that there is a difference between honesty and stupidity. the leading agent remarks are priceless:

OK, it’s on a busy street and across from SF General, AND you get a lot of house for the $$. E. R. is at other end of the hospital and not much siren noise.”

It definitely doesn’t help sell the property, but at least they have pictures, lots of them. Since “the General” is the only trauma hospital in the city, we’d have to disagree with the “not much siren noise” statement…you’ll get plenty.

Sunset Idea House a.k.a. 1303 Alabama

by Tiffany Elston:

sunset In the spirit of keeping tabs on San Francisco’s green housing inventory, it seems only logical to draw attention to a green 2 unit TIC in the Mission: 1303 Alabama. The main unit is being retained by the owners. The second unit is a 1,200 SqFt home. The project is the result of a collaboration between Sunset Magazine and Meridian Builders and Developers Inc. and was designed to “take the magazine’s Idea House Program into a dense urban area for the first time, and demonstrate how to maximize construction on a compact site.” Interesting.

I got to preview the 2 bedroom 2.5 bath two Sundays ago during the Build It Green San Francisco Home Tour.

In terms of green building features, the house gets a high score: solar PV, recycled glass tiles, reclaimed wood floors, double insulated windows, dual flush toilets, rooftop garden, and the first residential windmill in the city (On a 1-year variance to see how the birdies fair with spinning blades.)

The unit is on the market for $1,089,000.

How long will it be before someone swoops in on this green baby? Wagers, anyone?

[Editor's notes: It'd be fun to see what "A" and "M" think it will sell for. I know "A" is reading, but what about "M". And WTF is up with the MLS photos of this place! You'd think better quality would be demanded of the agent.]

-Info on the Sunset Idea House

-1303 Alabama [MLS]