The August Case-Shiller Index report released today showed a small home price decline for the 5 counties of the SF Metro Area. Autumn’s numbers will give us a clearer indication as to whether this is the beginning of a flattening or declining price trend or simply the not untypical indication of a Summer adjustment from the Spring frenzy.
Continuing to bring you all the updates on one of San Francisco’s most hyped and happening new developments, Lumina SF, I wanted to quickly follow up on the last post I did with updated pricing on the first release of units. For full details about the Lumina SF development, including amenities and finishes, check out my original post.
So how did that first release go? Was it as insane as everyone expected? I’d say yes. From a reliable source:
Lumina received about 200 offers for the 52 released units. A few were accepted and most were asked to come back with “highest and best.” Additional units were released to absorb more of the interest, resulting in approximately 80 sales. The next release MIGHT BE first come, first serve but buyers that have not prevailed will be given priority, if possible. The next release will not be for a week or more as they are swamped, getting this group of contracts written.
That’s old news. Second release is happening now, and I’d be happy to help you secure a unit in this amazing luxury building.
Paragon Real Estate Group
-Lumina SF: Pricing, Square Footage, and Timing of Sales – An Update [theFrontSteps]
-Lumina – Luxury High Rise Living In Downtown San Francisco [theFrontSteps]
Located on an elegant street in San Francisco’s Buena Vista Park District, one of San Francisco’s most coveted neighborhoods, 62 Buena Vista Terrace affords you the ability to immerse yourself in all this city has to offer, yet escape from it too. And you, dear reader, get first crack at it.
Walking distance to Duboce Triangle, the Castro, Haight, Hayes Valley, Upper Market, Mission Dolores, Alamo Square, Buena Vista Park, Duboce Park, and NOPA, this luxury residence is truly in the heart of the city, and truly awesome…yes awesome.
Top floor condominium in a small 2-unit building, 62 Buena Vista Terrace has 2 + bedrooms, 1 bath, 1 car parking, views, formal dining room, living room, beautiful bamboo flooring throughout, new double paned windows, tons of natural light, two fireplaces, exclusive deeded deck off of kitchen, beautiful lush garden, in unit Washer & Dryer, tons of extra storage, and plentiful closet space.
The designer kitchen is a chef or entertainer’s dream, complete with granite countertops, Viking Range, Amana refrigerator, custom cabinets, island with Carrera marble countertop, under cabinet LED lighting, microwave, Miele Dishwasher, and an extra room off the kitchen perfect for morning coffee or evening cocktail preparation (could be a great breakfast nook too). Trust me when I say your friends will envy you here.
The unit is approximately 1353 square feet (per tax records), HOA dues are $300/month, and we’ll be listing it for sale at $1,295,000.
-MLS Listing Information
-Buena Vista Park Top Floor Condominium
-Address: 62 Buena Vista Terrace
-1353 Square feet (per tax records)
-Formal Dining Room
-Saturday 10/25 2-4pm
-Sunday 10/26 1-4pm
-Tuesday 10/28 12-1:30pm
-Thursday 10/30 5-7pm (Twilight)
-Sunday 11/2 1-4pm
-Private showings by appointment
Other important information:
-Full disclosure package, including pest/contractor inspection available
-Offers, if any, reviewed Monday 11/3 by 12pm
Don’t delay. This one is gonna go fast. Contact me for further details or to schedule a showing.
A great testimonial from two very happy selling clients.
Thanks again for the great work on the sale of our Outer Sunset Condo.
We really never expected to get even close to the price you were able to achieve for us.
When we decided to move in Nov 2012, the Outer Sunset was trailing the rest of the city and we were told by an SF realtor friend to expect under $600K for our place.
So to come in at over $800K two years later feels phenomenal.
We don’t think it was luck at all. Having read your newsletter for many years — I got hooked when you used to do profiles of the micro-neighborhoods of San Francisco, which were great — I knew that you loved San Francisco and know San Francisco buyers. I felt that you understand the modern buyer who can do their own research and come prepared, yet has limited time and is used to working through texts, emails and on-line. So when we were coming up on 2 years after moving, we knew it was time to sell and I knew that I wanted to give you a try.
From our first contact the experience has not disappointed. You have been prompt and responsive and treated us and our condo as a top priority throughout. We started the process in May and from the beginning we established a timeline and expectations. May was the perfect time to start for a sale in mid-September with a close in mid-Oct.
You went to work on our place immediately, engaging Gigi Park and getting us estimates and a timeline for the required work prior to sale. You walked us through the entire process and based on your advice we negotiated an early move-out for our tenant. We knew that there was deferred maintenance going into the project, and spent the money to bring the place into top form. Over the summer you would check in periodically to make sure everything was on track, and as the work progressed our timeline unfolded exactly as expected.
Due to the early move out we were able to market the property in mid-September which was an optimal time. With the work completed, Katrina’s staging really showed off the beauty of the location and the rooms. The brochure was beautiful and it was thrilling to see our place featured in your newsletter. Tom kept track of the Zillow hits — over 2000 views and over 25 favorites!
Offer day we were happy with the offers and then ecstatic. Adding to our comfort level was knowing that the offer we chose was from a couple who worked with an agent and mortgage broker with whom you have close ties. It helped us believe that the deal would really go through and that we were dealing with high integrity buyers who would love our home as we had.
The close went smoothly and we knew if we had questions you were just a text or a call or an email away throughout.
–KT and Tom
(See Tom’s comments below)
To add to what Katy says, I’d like to note that since we used Alex for his knowledge and skill regarding our sale, we followed all of his advice. We staged, painted, repaired and replaced fixtures as he advised and didn’t try to quibble with, or shortcut his guidance.
Congratulations again guys! Thanks for the great testimonial. So glad it worked out on such an extraordinary level. Keep in touch and let’s get you moved back to the City! Go Giants!
To say we knocked it out of the park on this sale would be an understatement. Transaction details below:
As much as I love doing a stellar job for the sellers I represent, it honestly pains me when we set a new high water mark for San Francisco real estate sales, because it makes it that much harder for the next buyers out there trying to buy the next property that comes along.
Listed at $589,000, we received 8 offers, 3 of which were over $800,000, and we just closed yesterday for $815,000. That’s $226,000 over asking for a condo in the Outer Sunset. Put another way, 38.37% over list price. When we had received an offer at $750,000, we thought that was going to be the best. Alas, it was not. We could have actually sold this property an hour after it hit MLS, but we declined the offer, and I pushed for an offer date. It paid dividends. The sellers are thrilled, as are the winning buyers, the the SF-Marin Food Bank will be getting a check from me shortly, and I got a bottle of Johnnie Walker Blue Label out of this deal. Suuuweet! Thanks John!
This fabulous top floor condominium in the oh-so popular Outer Sunset is one block from the Ocean, two blocks from Judah street shops/restaurants/N-Judah, and a few blocks from Golden Gate Park. This is an outdoor lover’s dream. The home features an open floor plan with living/dining area including a wood burning fireplace, partial views to the Ocean, kitchen with bar counter opening to dining area, in unit W&D, Master Bedroom with ensuite Bathroom, Central Vacuum, SxS parking, TONS of extra storage, and shared yard. Property was recently painted, has a new fence, and new carpet in common area. It’s an amazing property and we marketed it at an amazing price, not really knowing where it would sell.
If you have a property in San Francisco, and you’d like me to help you sell it, I have a great team and we’ll get it done just like we did on this, and many of the other transactions I’ve orchestrated in and around San Francisco.
Are you a buyer curious about the Outer Sunset? I know the area very, very well. I can help you. For a taster, check out this post by Refinery 29: What To Do In Outer Sunset (Slideshow)
1582 48th Ave @ Lawton
List Price: $589,000
Sold Price: $815,000
10 days on the Market