Tag Archives: Condominium

22 Loyola Terrace: A Single Family, NOPA Alternative With Real Big Views For $1,095,000

Have aspirations to live in the oh so hip NOPA district of San Francisco? Been searching for a single family home in NOPA, but just can’t afford one? You’re in luck, as thankfully San Francisco always has an alternative for you, and 22 Loyola Terrace is no exception.

Technically mapped in San Francisco’s Lone Mountain neighborhood, 22 Loyola Terrace is one cute cul de sac practically in NOPA, close to Haight, down the hill from USF, around the hill from Laurel Village, and a short par 3 away from Golden Gate Park. It’s most definitely stumbling distance to Bistro Gambrinus, 1/2 block from Papalote, and certainly walking distance to Matching Half Cafe (because Starbucks on the corner of Fulton and Masonic should be avoided). It gets better…there is a new place to try on the corner of Geary and Masonic called The Corner Store (Remember the Hukilau? Right there.) They serve brunch, lunch, dinner, and have a soda fountain (such the rage).

This top floor, two level, three plus bedroom condominium could easily trick you into thinking it’s a single family home, but alas…it is not. Homeowner’s dues are an incredibly low $193/month, the wood floors sparkle, the kitchen and baths have been updated, the decks and views are tremendous, the garage is massive (2 cars easily fit), there is additional storage, washer & dryer in the unit, and the creme de la creme…radiant heat, no hot air blowing in your skin to dry you out!

So if you, or anybody you know, has been looking for a single family home, or condominium anywhere near NOPA, Lone Mountain, Haight, Laurel Village, Cole Valley, or even Hayes Valley, this is one property you won’t want to miss. Spread the word far and wide, 22 Loyola Terrace is officially on the market, and ready for a new owner. Me thinks it should be you!

-22 Loyola Terrace, 3+ bed, 2 bath, 2 parking, 2 decks, 2 levels, 2 cool, $1,095,000 [MLS]

It Is Certainly Brisk Out, And We’re Not Talking Weather

Somebody has certainly turned the tap on with regards to San Francisco real estate. Case in point (like we need to see more), 1998 Broadway #1007.

I just called on this Pacific Heights property to get an appointment for a client to take a look at it next Tuesday. How foolish of me to think it’d still be available! They accepted offers yesterday, received five, and will certainly not be looking for another by next Tuesday.

That’s a two bedroom, one and one half bath, 1030 square foot condominium asking $750,000, gone in seven days.

-1998 Broadway #1007, $750,000 [MLS]

TIC Versus Condominium, Which Holds More Value?

Answering the oh so common question in San Francisco real estate, “How much more valuable is a Condo than a TIC (Tenancy In Common)”, RealDataSF.com takes us there in a chart:
[Update: If you saw a chart before that was different than this one...that was the wrong one. This is correct.]

Click Image for Larger Version

[Update 2: From "Garrett" in the comments below: "what this chart doesn’t measure is opportunity costs. it is a PAIN IN THE ASS to buy/sell/manage a TIC. i don’t care if it’s a 2 unit building or a 6 unit building, TICs always come with drama… if you want to condo convert it will cost money and you’ll have to deal with your partners and the city. if you want to sell, you’ll have to deal with equity/liquid cash issues. the drama/potential problem list goes on and on and on. so, not only is there a difference in “value” there is an even greater discrepancy between TICs and Condos when it comes to time, headaches and just general pains in the ass." Now how many Realtors are going to be that honest with you? Hats off to Garrett!]

RealDataSF is Misha Weidman…and we thank him for the graph. More details at his site.

Condominium Versus Single Family Homes (The Data)

Misha Weidman is back and he brings us this little nugget (also posted on his site):

Condos vs. SFDs All Districts Chart

…and this quote to go along with it:

Until June 2008, condo and home prices were in lock-step in terms of price appreciation and decline. Thereafter, homes fell first and further. In March 2009, the delta between condos and home prices was a whopping 13%. Since then, however, home prices have recovered smartly: as of June, homes are about 4.5% further off their all-time highs than condos.

What does this all mean? First of all, I wouldn’t take too much consolation just yet in the upward spike in both condo and home prices since the beginning of the year. If you take a look at the chart, this happens every Jan/Feb when people start buying out of the winter doldrums. I wouldn’t predict a bottom until we see what happens this winter.
Still, the current delta of only $100,000 between median condo and median home prices seems rather small. If people are just begging to know what the historical average is, let me know and I’ll find out.

Thank you! And we’d bet there are a few that would love a little historical average.

-Misha’s Blog and place for more data crunching

Ask Us: Color Me Condo!

We get all kinds of questions in every shape and size and this one has got to rank right up top with one of the most off the wall, but we love it nonetheless and will coddle it like one of our own:

Which Condo complex in the City has the nicest hallway color scheme, in your opinion?

graffiti460

One short answer…no frickin idea! We have seen so many condos, so many homes, so many different colors of paint in different rooms that they all blend together. But, we’re not looking at color palettes, we’re looking at numbers, size of rooms, location, proximity to public transport, and so on. Painting can easily change the look and feel of a home or building, so we always try to look past it. With that said, go neutral. Colors that are too wild one way or the other can bring down the overall feel and kill a deal the moment someone walks in the hallway. You might have a look at the Millennium Tower website for a good idea of what we think is a good choice.

Hope this helps. Guess we did have an idea after all (since you forced us to think about it).