Tag Archives: Bernal Heights

Ask Us: What’s The Real Estate Forecast For Bernal Heights

Where readers ask, and we (the community) try to answer.

We pulled this from Lily on Why the Fuss About Noe Valley. The question is pretty simple, the answer, however, is very complex:

What’s the real estate forecast for Bernal [Heights]?

The Fluj has already taken the bait and provided some answers on the thread, anybody else care to chime in here on Bernal Heights?

Our answer…it’s headed down along with the rest of the city and will bounce around the bottom for quite some time. We’d say the free-fall appears to be over, but the feeling of panic is definitely out there amongst buyers that the bottom is here, and there are buyers making offers across the entire city feeling the deals won’t get much better. Our advice to our buying clients, buy if you feel comfortable, then tune out for the next 5 years and enjoy your home. This applies to every nano-market the city has to offer.

Coming Soon: 613 Peralta (Bernal Heights)

You may have seen this great remodeled, two bedroom, one bath condominium at 613 Peralta in Bernal Heights on the market with another agent recently, well we’re bringing it back…at a lower price.

peraltaliv

peralta

This is a fantastic condo in an excellent location of Bernal Heights. It is close to Bernal Heights Park, has beautiful East/South East views from the deck, hardwood floors, stainless appliances, remodeled kitchen, one car parking, storage, and great neighbors! It is a small building (4 units), HOAs are low, and reserves are good. As soon as it hits the market we’ll be open every Sunday from 2-4 pm until it sells. It is also available to show by appointment, so tell your friends.

Previously priced at $569,000, we’ll be coming on under that (probably $539,000). We’re wrapping up the marketing efforts, getting photos up, statements ready, and all that good stuff, but if you’d like to get in there sooner, just give us a shout (thefrontsteps@gmail.com). Otherwise, look for it to be on MLS the first week of March.

-613 Peralta previous listing details [sfnewsletter listing page]

Choose Your Words Wisely and Reward Shall Follow

A lesson on marketing keywords: “Mill Valley style”…ding, ding, ding (think of the sound of slot machines in a casino)! “Bernal Heights”…ding, ding, ding! “On the market for the first time in almost 40 years”…ding, ding, ding! “TRIPLE LOT”…ding, ding, ding! “Cul-de-sac”…ding, ding, ding! “Shops and restaurants still a very short walk away”…ding, ding, ding!. “View home”…ding, ding, ding! “Owner will carry the loan”…ding, ding, ding, ding, ding, ding, ding, ding, ding, ding, ding!



And that is how you get 145 Bonview (3 bed, 3 bath, $1,425,000) to practically fly off the shelf (14 Days On Market). It hasn’t closed yet, but it’s damn close, and something tells us that seller financing wasn’t necessary.

Of course, if you’re more into hovering well above all that Bernal riff-raff (joking of course) we’d be happy to find some clever marketing keywords for that too.

Crime on the rise in…wait…Pacific Heights?

In response to our recent post about rising crime in Bernal Heights, a reader forwards this:

“Hey Alex,

I live in Pacific Heights and belong to a neighborhood association. Yesterday I received this email from a neighbor who is passing along a warning about a robbery in our neighborhood. It happened last weekend. So I guess it’s not just Bernal Heights that is having problems with recent increase in crime. What gives??

AK

Fwd email:

At 11:30pm on Saturday, April 26th I was walking home from

dinner with my husband and my father. It was a very warm night and we could

not get a taxi from Pres a vis in the Presidio. As we approached Green

Street while walking up Divisadero, two young men wearing bright red

bandanas that covered their faces and carrying guns told me to give them my

purse. I did and they ran away – west on Green Street.

We promptly called the police who arrived within minutes. I

am mentioning this to the group because I have received two phone calls from

the police since the incident. Yesterday when they phoned they informed me

that they still had not arrested the guys, but in fact they had struck

several more times, that they know of, along Divisadero Street. One time

they even approached two men who were walking together, so it’s not just

women by themselves or in a group that are the target.

Both times the police called it was to ask if I could

identify the criminals in a lineup. Because the bandanas covered their

faces and they were wearing hats (along with baggy jeans and dark

sweatshirts) I could not be certain of their identities. The police

officers told me that the robberies are being committed by young members of

a Hispanic gang from South San Francisco. They drive down the street,

selecting potential victims, and then plan the attack a few blocks ahead and

escape again in their car parked nearby.

Please be careful walking at night. I was only 4 doors down

from my house when this occurred.

The police officer I spoke to last night assured me he would

call and let me know if/when they make an arrest.

Darnit, we’re going to have to find a cool video to brighten this Friday! And does this also beg the question, will this make Pacific Heights real estate prices go bust?

Weekly Fluj: Inventory, is there a lot of it?

Lots of people yapping on and on about how San Francisco listing inventory is through the roof, sales volume is in the toilet, and both median and average home prices have plummeted, but the Fluj says:

Seemingly the perception is that there is a lot of inventory, but is there, really? And as for prices, come on now!

Discuss, debate, have fun.

…and kicking it off, we’ll go ahead and show you Fluj’s first comment in the thread to get you going:

Right, so, “Inventory.”

Seemingly the conventional wisdom is that there is a lot of it. Why the disparity between what buyers in the field are actually excperiencing and the media/blogs then?

I did a search for available properties. I used a metric that I believe to be extremely common for San Franciscans. This is a search for a couple or a small family who hope to buy something with room to grow into.

The parameters are: 750K to $1.205M, 3 brs, 2 bas, 1 car parking. I limited the search zones to only generally safe(r) areas. Essentially I included everthing except Ingleside, Ingleside Heights, and Oceanview, all of 9 save Bernal and Potrero Hill, and all of 10.

I turned up 82 properties.

1. Of the 8 Richmond properties, only one was east of Funston, and it is a cosmetic fixer on 7th Ave for 899K. (On the market for 7 days, offers Tuesday, you best to hurry if interested IMO)

2. Twenty-seven are in the central or outer Sunset.

3. For areas 3, the Arch st. listing appears to be a nice little Merced Heights home for 559 a foot. Many searchers will not entertain areas 3.

4. For areas 4, if they are not on a very busy street or a fixer, only Forest Knoll, and Miraloma Park areas 4-D and 4-H have properties for 550-600 a foot. Like 3, many buyers will not entertain areas 4 as it is not particularly central.

5. Surprisingly, for areas 5, there are only two Glen Park listings. In Noe, there is only 4120 22nd, a permitted fixer in need of at least 600K in capital. In Ashbury Terrace, only one cosmetic fixer I know to have received two offers already. And there is one large fixer property up on Grand View — and it doesn’t have any views.

6. There was nothing in 6. This was surprising.

7-8. Nothing here. Not surprising.

9. Eleven are in Bernal Heights and will not appear in the search perameters of many groups. Two in Potrero Hill. The Wisconsin listing is a total fixer on a corner with very little southern exposure and an entrenched tenant. The Rhode Island property at $1.195M and 663 a foot appears to be a decent deal for North Slope.

So is that a lot of inventory? I really don’t think it is.

Crime on the rise in Bernal Heights?

It seems to be the week of getting edumucated on theFrontSteps. First chickens, now rising crime in Bernal Heights? We have no factual evidence to support what we’re saying, but the information has come to us from a very reliable and trustworthy source. We’re hoping you (the reader) can shed some light on the matter. We know some of you in particular might have better knowledge on the matter than we, so please share.

It also begs the question, could this make Bernal go bust? (And it reminds us, we’re about due for another Battle Royale.)

Isolated Panic amongst some San Francisco Realtors, or something larger?

Recently, we’ve been contacted by more than a dozen Realtors asking if we could “plug” their listings. Typically, this is not something we do as it defeats the purpose, honesty, and transparency of this blog, but we got to thinking…why not? We could make a little $$ from it, and help get the word out about some pretty cool properties that happen to still be available. Truth be told, a lot of “tips” from “tipsters” are essentially “plugs” anyway. Right?

Well, don’t worry, we’re not going to start whoring ourselves out…yet. But what has us thinking is the increase in requests to do so for properties that have only been on the market 2-6 weeks. In any other part of the country having a listing for 4 months is normal, and panic usually sets in around the 6th month that it is not sold, so why such alarm after 2-6 weeks? San Francisco Realtors are so accustomed to homes flying off the shelf, and when they don’t…they PANIC! Remember, a listing isn’t a “Stalefish” until 100 days have passed, so why all the panic?

We still say it all comes down to pricing, pricing, pricing, and location, location, location, and there is no need for panic across the board. We’re still hearing many more reports of multiple offers and properties flying off the shelf than we are of properties sitting, but is the national trend finally starting to hit San Francisco on a broader level, not just the southern districts? We’ve heard reports of homes in the Inner Richmond, Cole Valley, Westwood Park, Bernal Heights, Inner Sunset, Noe Valley (Gasp!), Parkside, Potrero Hill, and a few other nabes getting a bit stale. Properties that previously would have sold in the blink of an eye. So what gives?

We want your thoughts, especially you Realtors. Go ahead and comment anonymously, we won’t tell. And we certainly hope to hear from the Fluj, who, in case you missed it, we caught.

[If you'd like to check out what we've written about other neighborhoods in San Francisco, look to the right hand column and "Browse Site by Category".]

Ask Us: What’s up with Bernal Heights?

Where readers ask and we try to answer:

What is going on now with the real estate in Bernal [Heights]? I am concerned about the houses on the Cesar Chavez side, which are newer. One under a million, one 1.25 mil, and one for 2 mil?

We’re not quite sure which properties EXACTLY you are referring to, so here’s a list of the most recent Bernal Heights activity (listings) in the price ranges you mentioned. Feel free to elaborate more in the comments, and we might be better able to answer your question.

Kenny, Greg, and Garrett, isn’t this right up your alley?

Tis the season of giving…from sfnewsletter

We stole the sfnewsletter code for their last “cocktail” issue, because they apparently kill old issues each week. Since we just linked to it and now learn it won’t be there, we pasted it here. Make sense? Happy Holidays.

MARKET UPDATE

Charts, Data, Trends

In a nutshell, our market has definitely been hit by all the doom and gloom. Not nearly to the extent you’re reading in the papers, but there is a lot of hesitation for a lot of people. On the other hand, there are some that have been on the sidelines for so long, they’ve found now the perfect time to get in the mix. A+ properties are still selling quickly, the south end of town (district 10) has been hit hardest by the foreclosures, and the gazillionaires really don’t care what the rest of the country thinks…they’re snatching up multi-million dollar trophy homes like they’re candy canes. The new developments are still selling very well, and general interest in San Francisco as a place to live and own property is still healthy. We’re anxious to see what 2008 will bring, more cold wind, or a sea of change? We’ll let you know.

MAXIMUM OVERBID OF THE WEEK

You thought these were dead? So did we…to an extent. But they still exist and this one quite frankly blew our mind.

4924 17th St, a beautifully remodeled 3 bed, 3.5 bath home was asking $3,600,000 and sold for $3,900,000 on 12/10/07. The marketing remarks say it all, and give us an indication of what may have happened, “Attention Pacific Heights Buyers this is the home you have been waiting for.” Don’t get us wrong, 17th Street is a great area, but the traffic is through the roof and this was a significant sale for Parnassus/Ashbury Heights. We’ll take a gin and tonic thanks, and on to the next discussion…365 Richland a nice 4 bed, 2 bath Craftsman in Bernal Heights…asking $899,000 and selling for $955,000.

STOP! Look closer. This property was originally listed at $999,000 and didn’t sell. They dropped the price to $899,000 and look where it ended up…$955,000. This is what you need to know about our market…it’s still ticking along, and once the price gets to that “competitive” range, you can expect multiple offers and often an above asking sales price. The most important thing in this market is pricing, and we used to say staging, but apparently pink is no bother to some. ;-) Whiskey sour will do just fine.

CALLING B.S. ON YOUR HOOD!

You’ve been there before, as have we, and it goes something like this, “You don’t live in SOMA, you’re in South Beach!” Or, “I live in Russian Hill.” “No you don’t, you live on Nob Hill.” Print this out, take it to the party, throw some darts at it, and bet some egg nog on your knowledge.

Available at ORK Posters, found via Curbed SF.

STALEFISH TANK

Readers love it, Realtors hate it…our monthly list of Stalefish. What’s a Stalefish you ask? It’s simply a property that has been on the market 100+ days. Deals, deals, deals!

But what’s a Stalefish Tank without pointing out some big fish? We’ve already told you about 300 Sea Cliff.

But there are so many more Stalefish to note…we’ll take four shots of tequila please, and move on…Are you fortunate enough to have your inlaws joining you for the holidays (ahem!)? Well, when you’re walking off all that holiday gluttony, you might take them on a nice walk up to Coit Tower. When they pause to catch their breath, and take in the breathtaking views from 115 Telegraph Hill Blvd, you’ll sound so in the know when you point out that this lot could be theirs for a mere $4,000,000.

Earn extra points when you inform them it’s quite stale at somewhere around 900 days on market, and has only seen one price reduction from $4.5M in the life of the listing. Something tells us there are either some skeletons hiding in that closet, or a seller that really doesn’t care to sell. We’ll need to chase those tequila shots with four Coronas, lime and salt please.

COMPARISON SHOPPING

There is a lot of talk these days about a jolly white bearded man who lives in the North Pole, and so we thought we’d try to find you a home next to him that you can discuss over a tasty mojito. Well… we couldn’t find anything that said, “Be neighbors with Santa”, but we did find a home that, once there, tells you where to go: 3563 Go Thatta Way, North Pole, AK. We kid you not. It exists and it’s for sale for $119,900.

Since we’re on the subject of the northernmost points, we thought we’d add that upon hours of searching for the perfect North Pole home to run in this week’s sfnewsletter, we also learned that Barrow, Alaska is about as desolate as they get, and way further north than North Pole, AK. However, we’ll still take an overpriced home in San Francisco over anything in either of those towns any day. But…it’s still fun to look, and it makes an Irish Coffee that much more appealing.

SKIP ACROSS THE POND

This one just came to us from Marin (Belvedere to be exact), so we’re hastily throwing it up, but stuck pondering the possibilities of back flips we could perform into that pool. Apparently, this home is now in contract for the asking price of $65M after three years on the market. Stocking stuffer perhaps?

-Mining Magnate sets $65M Sale [Wall Street Journal]

“a total dump inside…” (4017 Folsom)

From our reader:

“Just a FYI if you’re interested or if people want to give their opinions about this house. It should be an interesting one to watch.

A house in our neighborhood [4017 Folsom] was just listed on the MLS yesterday [11/30], no for sale sign, a total dump inside and yet the house has been absolutely FLOODED with prospective buyers in the last two days. The 1st open house isn’t even until tomorrow [12/2] – and the level of hysteria around the house is already in full effect.”

It’s another one of those no photo available problems we have all too often, and if our reader is right, we know why. But how ’bout that hysteria?

4017 Folsom [Redfin Property Detail Page]