New Waterfront Development Coming to Pier 70

A major new development broke ground in May at Pier 70 with plans to rehabilitate several historic buildings and create thousands of new homes. This is an exciting project that brings to life an area of the waterfront that has been underutilized. Plans include commercial and residential development of the 35-acre site, and will bring new public waterfront parks, spaces for artists and plenty of new housing to the city’s east side. The project is said to cost $2 billion with the Port of San Francisco working in partnership with a private developer, Forest City, known for their innovative approach to building community. Forest City is the developer responsible for such adaptive reuse projects like the award winning Presidio Landmark and the 5M Project which will be transforming the iconic Chronicle Building.

   

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STYLISH AND SEXY VIEW CONDO IN NOB HILL

If Sex in the City and Mad Men had a love child, 10 Miller Place would be the product of their union. Located in prestigious Nob Hill, 10 Miller Place #1202 is a stylish and fun 1 bedroom, 1 bathroom condominium that was renovated in 2013 by noted San Francisco designer Benjamin Dhong. Mr. Dhong’s work has been featured in Architectural Digest, Elle Decor, House Beautiful, and the Wall Street Journal. The home showcases high ceilings, a large balcony, and stunning views of San Francisco landmarks including downtown, the Transamerica Building, the Bay Bridge, Treasure Island, and Coit Tower.

   

The living room has several designer touches such as coffered ceilings with elegant wallpaper; a mirrored wall; and custom built-ins with sliders that cleverly hide the TV. The kitchen is open to the the living room for maximum enjoyment of the breathtaking views and has marble countertops, a breakfast bar, a mirrored backsplash, a Blomberg refrigerator, a Bosch dishwasher, a Fagor oven, a Miele cooktop, and a GE Monogram microwave. Although an urban dwelling, this home has 2 storage closets in the entry way and a pantry/closet at the end of the breakfast bar as well as a large closet in the bedroom. The bathroom has a marble-top vanity and stall shower. Hardwood floors, crown molding, paneled doors, custom lighting, and 1-car parking complete this home.

  

 

10 Miller Place is a boutique high-rise building with a full-time doorperson (8 am – 11 pm, Monday to Friday) and common laundry facilities. Current HOA dues are $969 per month and include water, garbage, basic cable, wireless internet, gas, and property management as well as a portion towards reserves.

Located in Nob Hill just a few blocks from the Fairmont, the Mark Hopkins, Huntington Park, Chinatown, North Beach, and the Financial District, this is exactly where you want to be.

Being A Homebuyer Can Be Challenging

Being a homebuyer can be challenging, but there are some things you can do to be sure you will succeed. First time homebuyers often come to the table unprepared and with misconceptions. Don’t let that happen. Here are some things to consider:

  1. Time is of the essence! When the market is active it is particularly important to move fast with a decisive offer right in the beginning. If you don’t you will definitely not have a good chance on winning the bid.
  2. Don’t expect a property to be perfect. There is no such thing as a perfect property. Try to look at the pros and cons and weigh the good with the bad. You can always turn a property into your version of perfect once it is yours.
  3. You maybe can’t have it all, so be prepared to compromise. It is unlikely you will find a property that has everything you want in a home. Think about the things you absolutely must have and the the items it would be “nice to have”. Make lists.
  4. Stay in your budget. Do not pay attention to what others are saying or doing. You know how much you can spend. Don’t forget that in addition to paying your mortgage you will need to factor into monthly expenses your taxes, utilities and maintenance.
  5. Understand what you need from a new home, verses what you want or would like to have. Communicating with your agent about your needs will help the process of finding a new home move along more quickly.
  6. Educate yourself about the Financial Process. Your agent and lender can help you with that. Buying a home may be the biggest financial event in your life. Don’t let yourself be intimidated. Start the process early by gathering information and documentation about your finances. Be sure to get a trustworthy loan officer.
  7. Make sure you get pre-approved for a loan before you start shopping. That way you will know exactly how much you can spend. You will never have to  experience being turned down for a mortgage. It would be very frustrating to fall in love with a house you can’t have.
  8. Forget about low ball offers. You run the risk of insulting the seller. Let your agent determine a fair market value by running the comparables and advising you on a strategy that will win you your new home.
  9. Be ready. Educate yourself about neighborhoods, commute times and anything about location which may impact your life. When the time comes you will have done your homework and will be ready to perform.
  10. Determining a home’s current market value is not something that Redfin or Zillow can provide with any accuracy. It is worlds better to have an agent who is familiar with your market. Have them visit the property to understand the full scope of the situation. They will be able to run a more true-to-life market analysis that will be more telling than any algorithm.

 

Year Over Year Home Prices Are Increasing

Year over year home prices have been increasing throughout the Bay Area. Single-family homes and condos continued to perform well in the first quarter of 2018. In San Francisco the median sales price was up 23.8% for single family homes and 4.6% for condos and lofts. Listings spent less time on the market than in the first quarter of 2017. Take a look at my office’s exclusive data covering the entire Bay Area:

Both Ends Of The Spectrum

San Francisco has a complete range of options when it comes to housing and you will find properties at both ends of the spectrum. Like the townhouse-style one bedroom TIC condo that recently came on the market in the Mission district. Located at 1384 Florida Street #B, it’s super cute and feels like a cottage, and is listed for  $799,000. Originally built in 1900 the unit is a standalone building that sits at the rear of the property. It’s main level consists of an open living/dining/kitchen area with a contemporary natural feeling. It has warm wood floors and double doors opening onto a garden with a charming brick patio. There is a spiral staircase that leads to an upstairs bedroom suite. It’s in a great location in the city near the Inner Mission’s trendy 24th Street, and at the same time the home is far enough away from the street to be like private, urban oasis where you can really get away from it all.

And if you really want an urban retreat consider living at 22 Portola, something at the opposite end of the spectrum. The home in Diamond Heights also recently became available, offered for $3,349,000. It’s a four-story, single family row home designed by J. Lloyd Conrich, a San Francisco native.  With its four bedrooms, three and a half baths and dazzling views of the city, it looks much as it did when it was built in 1948,  from the outside at least. Inside the home has been beautifully remodeled and expanded. The whole-house is engineered for earthquake safety and has a fire suppression system. Solar panels supply most of the home’s electrical supply. From the great room on the second level broad windows frame views of the city and bay. There is a fabulous modern chef’s kitchen and a large family room that doubles as a home theater with sound-insulated walls, and 7-channel surround sound. From the moment you enter the house in the foyer, you get a glimpse of one of the home’s most unique features, the grand staircase. Custom-designed out of glass and steel by Oakland artist John Lewis, it is a four-story work of art. Rising from the ground floor to the skylight-capped top level, the planes of rippled, textured glass create a stunning waterfall of light. Remote-controlled windows at the top of the stairs create cross-ventilation that cools the entire house on hot days, and when San Francisco’s famous fog rolls in, 7-zone programmable radiant heating keeps the rooms snug and warm. Tucked at the back of the fourth level, the grand master suite is a serene oasis of its own, adjacent to the “Solarium lounge” opening onto a large deck. There are breathtaking panoramic views of the city. And while the cottage in the Mission seems like worlds away, it’s not so far. The city has something to offer everyone, so long as you venture to believe you can achieve your dreams.

 

New Construction in Jackson Square

A new building named 288 Pacific is in its final phase of construction and on schedule for a certificate of occupancy (TCO) in late April. It’s not open to the public yet but they are allowing some agents to show clients and you could reserve a unit. Located in the architecturally interesting, historic Jackson Square district, the new building has a very Barbary coast style that sets it apart from other condo buildings. The neighborhood is well loved for its charming brick buildings and historic warehouses that have been turned into art galleries, restaurants and boutiques. There will be a total of 33 condos available, including  two Studios, seven One-Bedroom condos, a nice selection of Two-Bedrooms, and three unique penthouses with impressive great rooms and terraces. The building exhibits a high level of craftsmanship and style. Residences are luxurious, with elegant design features using exotic and hand crafted materials. Each has wide plank european oak wood flooring throughout, eleven foot high ceilings and plenty of natural light. Floor to ceiling windows frame with double or triple exposures views of downtown, with the Transamerica Pyramid to the south and bay views and bay bridge views to the east. Kitchens have natural stone countertops and back-splashes with Taj Mahal quartzite from Brazil, striking dark wood cabinetry and millwork, unique unlacquered brass fixtures, and state-of-the-art Sub Zero and Wolfe appliances. Bathrooms have awesome soaking tubs along with separate glass enclosed showers and dual vanities, incorporating Italian Grigio Fleury marble and Waterworks unlacquered brass fixtures. Two bedrooms residences have good square footage and some come with dens. Secure indoor parking is provided for each resident and the building as two rooftop terraces with sensational views. The seventh floor terrace has a fire pit and outdoor kitchen. The residential lobby has an elegant concierge desk and seating area,  with an oversized fireplace, original artworks and framed mirrors,  oak-paneled accent walls, an ornamental ceiling, and geometrically patterned marble stone floor. This is a great opportunity to live in one of San Francisco’s best historic neighborhoods, just steps away from the Ferry Building Marketplace, the waterfront, and within great proximity to downtown and the financial district.

    

While under construction. Bay Bridge View.

Thinking about buying a home or condo in San Francisco?

Thinking about buying a home or condo in San Francisco? Please join us for a free workshop at the Mission Bay Condo Store on Sunday February 25th at 6 pm. Learn everything you will need to know to be a successful home buyer. The market has been very active so far in 2018, and  we will be seeing even more activity as the season gets underway. Let us help you compete in this tough market. There are so many opportunities to purchase in San Francisco. We would be glad to help make it a smooth and enjoyable process.

Seller Confidence on the Rise

According to the San Francisco Association of Realtors housing demand in the city remained incredibly strong throughout 2017. With less homes for sale than in 2016, prices were consistently up and properties sold more quickly. Buyers may not have benefited from higher prices, but sellers did, and confidence is said to be on the rise. We are expecting to see more listing activity as the year unfolds. At least that would be the most viable prediction for an economic landscape pointing toward improved conditions for sellers. Home building and selling professionals are optimistic, despite the fact that mortgage rates are likely to increase in 2018. One of San Francisco’s leading authorities on market trends, The Mark Company, announced robust buyer activity right away as the year began. It appears as if the 2018 buying season is starting earlier than in previous years. The company’s Condominium Pricing Index indicated strengthening market conditions in December with momentum being as high as the spring market of 2017.

There were plenty of new construction condos available with the start of the new year, and still more are in the pipeline. But some new constructions which had only released units earlier in 2017 are already sold out. La Maison, 72 Townsend, Laguna Hayes,The Rockwell, and The Pacific are down to having only a few homes left. One Mission Bay, the new condominium community across the channel from AT&T baseball park, brought  270 new residences to the neighborhood, however there are only 80 homes left. The Knox and Rowan were just completed in 2017 and are completely sold out. Lumina has sold 670 of its units and has fewer than 50 homes are left. There is still plenty of opportunity to find something elsewhere however, and several new constructions will be releasing new condos in 2018. If you you are looking for a new home, don’t miss out on the opportunity to get in early and get first pick.

The Austin Welcomes Its First Residents

I just sold a unit at The Austin, part of the first round of purchase contracts to close. With over 50% of the building now sold, the new condominium community welcomes its first residents. Offering a total of 100 residences, the new construction is located in the ever-changing Polk Street neighborhood, the epicenter of the city, close to Nob Hill, Pacific Heights, Cow Hollow and Russian Hill. Now that its model homes and amenities are finished the building is gearing up for its grand opening. There are studio, junior one-bedroom, one bedroom and two bedrooms still available with pricing from $695,000 to over $2,000,000. Featuring high-end finishes, flexible floor plans, and floor to ceiling windows, residents will enjoy natural light and sweeping views of the city. The building’s amenities include everything from a Zen -like courtyard to a dog-washing facility, outdoor fire pits, bike parking and a lobby “work hub” lounge with a fireplace and coffee shop, said to be one of the city’s best lobbies.