Just as yours truly got a sneak peek at The Century SF this week, another new, triangular-shaped condo building, is also taking shape. Here’s the latest from Linnea SF:
Delivery of Linea homes is tentatively scheduled for late Jan/Early Feb 2014 according to our contact there.
How To Get In First
The best positioning for would-be buyers is to reach out to someone like yours truly and we can then approach and secure a pre-qualification where the lender could do a rate lock. The sales office is reportedly doing a soft open this weekend and should be open to the public shortly thereafter.
Preferred Lender List
In case you don’t remember in condos and especially new condos, at least for the first half of sales — maybe even more than 1/2 the units — folks financing a purchase will have to use one of the lenders listed. From the list below, you get the usual suspects.
Why these folks only?
You might be asking yourself how come. Here’s how I understand it: other lenders will not fund on a building where one party — here, the developer — owns the majority of the units. It all has to do with debt obligations and priority of creditors should things go really South. Those other creditors may get first dibs and whatever assets can be liquidated leaving the other smaller ones with nothing.
Jackie Yi, Mortgage Consultant, Builder Division
Wells Fargo Home Mortgage
201 Mission St, Suite 2200
San Francisco, CA 94105
Carrie Mickelson, Mortgage Advisor
Opes Advisors, Inc.
435 Pacific Avenue, Suite 350
San Francisco, CA 94133
NMLS # 360829
Michael Treon, Home Lending Specialist
One Sansome Street, 23rd Floor
San Francisco CA 94104
NMLS # 339550
Deborah Byrne, VP, Retail Sales Manager
Bank of America
1455 Market Street, 14th Floor
San Francisco, CA 94103
E- Fax: 866-517-5149
Here’s the scoop on 200 Dolores
As provided to me by the listing agent for the property Anne Herrera of Sotheby’s – Thanks Anne!
This project has been in the works for quite some time. Each will come 1 car garage parking. They will be “gorgeous with exceptional finishes.”
Anne anticipates list prices at approximately $1000 per square foot, subject to a final discussion with the developer — Often times prices in new developments will depending on supply and demand.
Anne expects completion of the project at the beginning to middle of June.
Anne suggests people check out the project’s website for up to date information.
Floor plans available next week.
One – 1 bedroom, 1 bath, approximately 650 square feet.
Two – 2 bedroom, 2 bath, approximately 1015 and 1120 square feet (lower and middle units in the Victorian).
Nine – 2 bedroom, 2.5 baths, approximately 1095-1530 square feet, some with private roof decks.
One – 3 bedroom, 3.5 baths, approximately 2200 square feet, (upper unit in the Victorian).
All square footage and list prices are approximate and subject to change.
Fresh from our broker office meetings, here’s the latest word on the street about what’s been happening in SF real estate this week.
It’s a fast market with continuing price pressure due to the an undersupply of homes right now. We’re starting to see some relief though with more homes trickling out on the market. Now, more than over, it seems sales are going by word-of-mouth and off-MLS for better or worse. So, it makes more sense to see what I’ve learned from, well, word of mouth.
53 Clifford Terrace, which is as single-family craft-style home with 3 bedrooms, 1.5 baths (with a sunroom that can be converted into a master suite relatively easily), 2 car parking with garage, that’s listed at a $1.7M, pre-MLS. But a house just down the block with the same square footage also listed at $1.7M got 6 offers and sold for a little over $1.8M. The agent (whose house this is) said if he doesn’t sell off-market in the next 2 weeks he’ll paint and stage and we know what that could mean on the open market
73 Beaver Street, the small, narrow condo in the heart of the Castro received 19 offers. Who knows where it’ll close at.
352 Castro Street, a 2 bed, 2 bath top-level Victorian/Edwardian condo located near Castro and Market listed at $1.150 million was on the MLS for a mere 22 hours before receiving an offer the sellers apparently couldn’t refuse as it was in contract before its first Saturday public open house.
The TIC at 629 Dolores – the top floor stunner across the street from Dolores Park — that was listed at $1.35 million, two-car tandem parking, respect with city views, high-end finishes, received three offers at least and is rumored to be a contract around $1.8 million. Another, lower-level TIC 2 bed, 2 bath unit (no parking) is expected to be on the market soon
Over at 6th and Harrison one of my colleagues brokered a deal whereby 36 units could be developed for more than $5M.
The beautiful, newly-built LEED-certitifed modern condo at 1456 Chestnut will set records for the Marina. The top floor unit listed at $2.095 million received various offers and is a contract well over its asking price. The middle unit is in negotiations and the lower unit is still available.
The TIC pair otherwise known as the Chinese Laundry over at Duboce and Church That didn’t sell last year just went to contract this year having been on the market for about for five weeks. The front unit $895,000 in the rear unit $1.175 million were built in 2011 and designed by noted architect Owen Kennerly is working on a few new homes at 16th St. and Albion Street with one of them being a stand-alone 5,000 sqft house in addition to condos. Funny enough each of the pair on Duboce each went to lawyers joining another who bought my listing there last summer. Rumor has it that the contract prices are the same or close to the asking price.
A multiunit building at 834 Broderick St. – four units — listed for $2 million received 11 offers and is an contract for more than $2.6 million. The buyers will redevelop these into 4 TIC units demonstrating the strength of the Divisadero/NoPa area.
A rare single-family house and cottage at 154 Julian Ave. near 16th St. received three offers and bested its $1.345 million asking price by quite a bit with an all-cash offer.
346 Hermann Street The top floor Debusse triangle/Hayes Valley two bedroom one bath condo with tandem parking listed at $875,000 received 10 offers and is in contract at nearly 13% over its asking price.
Over at One Rincon Hill for one bedroom on the 38th floor listed at $839,000 went over its asking price
Over on 27th St., only one of the TIC units remain. Another one, number nine, the large back corner home, listed at $519,000, received all-cash offer with a very short close from an investor owner who plans to rent the home out
And further proof that wealth is spreading throughout the Bay Area, a townhome in Hayward received 8 offers going into contract a significant amount over it $329,000 price tag.
The single-family fixer on Carmel Street
in Ashbury Heights listed at $1.295M went into contract for $1.855M; this was after another agent offered (and would have had it accepted) a preemptive offer for $1.5M but for a client being too indecisive.
979 Guerrero, middle-floor, Victorian condo, no parking at 22nd Street was on the market for 3 weeks but received 3 offers in the end losing over its $900,000 asking price.
501 Beale, #8B, the Waternark building, is a 1200 sqft condo that would have sold for $750K last year as the building was undergoing litigation then. But with all that resolved this year it received a $1M+ all-cash offer (among several), which put it well over its $899K list price.
Exclusive listings and advances
901 De Haro St. at Southern Heights Ave. This beautiful newly redone four-level high-end, chic finish home with four bedrooms, three bathrooms and a fantastic roof deck overlooking the City the highest point of Potrero is on the market for $3.25 million
Three new construction homes at Broderick and Grove Streets, two and three bedrooms, parking, high level of finishes, elevators, custom barrel sinks and smart layouts will be on the market starting from $1.285 million through $1.4 million.
1648 Fell Steet at Masonic – two level, top unit of a two- unit condo Victorian building, with tandem parking, four bedrooms, 2 1/2 baths, beautiful finishes, huge kitchen in an open layout floorplan, quiet, shared backyard, exclusive back deck, which won’t last very long, 2500 ft.²+ listed at $1.495 million.
224 Hermann, top-floor condo, completely redone with high-end finishes and smart design, 2 bed, 2 bath, tandem parking, right near Duboce Park/Lower Haight/Mission/Castro/Hayes Valley and everything else the area has to offer. Expected in 2 weeks, expected price $1.2 million.
These are in addition to other potential properties such as a single-family 2500+ sqft home in the Richmond with City and Ocean views ($1.3M+) ; a 2-unit income property in Russian Hill with 2 flats and parking with strong rents ($1.4M+) ; a Duboce Triangle top-floor 2 bed/1 bath, 1200 sqft condo (approx $1M) among others.
If you want to learn more, contact me right away.
Kevin K. Ho, Esq.
Broker Associate | Vanguard Properties | Attorney
DRE 01875957 | SBN 233408 | kevinho.co
Office: 415.875.7408 | Cell: 415.297.7462 | Your Trusted Real Estate Professional
Our weekly meeting just wrapped up today and here are some listings I thought you should know about, some of which you should take note of (noted in BOLD), given your search that we’ve discussed way back when. Take note of them and you are now in the know before anyone else, which, in this market, can mean scoring a deal as timing is everything!
- 627 Castro at 19th St, Castro, top-floor TIC, 3 bedrooms, 2 baths, 2 parking spaces (!) recently renovated Edwardian flat, with 1600 sq ft. approx. Seller will pre-sell, and there’s a viewing appointment TODAY at 1:00 p.m. Expected list price is $1.250M
- 352 Richland at Andover, Bernal Heights single family home fixer with APPROVED, shovel-ready plans for a 2300 sq ft expansion/addition to an otherwise large 1 Bedroom, 1 Bath, deep lot with yard, listed at $795k. Listed this week generally on MLS. Expected construction costs $250k – $300k So, you could buy now and have it started and before you know it, it’ll be done. And yes, there are such things as construction loans.
- 355 Buena Vista Ave, #301, 1 bed, 1 bath, extra storage, TWO parking space, condo, 774 sq ft, HOA dues around $400/month, expected list price $599k
- 1610 Sacramento, Nob Hill condos, eight recently renovated condos, each with independent parking spaces, 2 beds, 2 baths each either at 1150 sq ft or 1500 sq ft, prices range from $900k – $1.3M on within a week.
- AXIS SF building at Bush and Taylor. 6th floor, corner unit with 2 Bed, 2 Bath coming on soon.
- 17th St at Douglass/Eureka/Market. Really posh condo coming, 3 Bed, 2 bath, 1 car garage (maybe 2), it’s a handsome building, top floor, details to come but prob on in 2 weeks at around $1M.
Let me know what you think!
With one in contract, another prime unit on the top floor of 788 Minna will be on the market in a few week….
ADVANCE FOR SALE: Sunny Dolores Condo on the 400 block of Dolores, $1.098 million
Mission Dolores Condominium with 2 bedrooms, + den, contemporary oasis inside an Edwardian 3-unit building with garden, side-street covered garage parking, steps from Dolores Park across Mission Dolores
Listed by Kevin K. Ho, Esq. – PRIVATE APPOINTMENT ONLY
I am pleased to present a hidden and elegant architecturally remodeled space behind an Edwardian facade with original gingerbread molding that is exclusively available pre-MLS.
The 1st floor condo was redesigned and updated for a contemporary living style with just the right amount of 1907 craftsmanship retained. There is turn of the century charm in the refurbished home with built-in dining room cabinetry, detail wood moldings, wainscoting and beautiful oak inlaid flooring. Recent kitchen and bath remodels include custom cherry wood cabinets, limestone counters, stainless appliances, European faucet fixtures, glass tiles, and flamed granite floors. Creative and custom lighting fixtures accent hallway cable sliding doors, built-in shelving a curved-bay windowed sitting room. There are 2 or 3 bedrooms (i.e, a side office or third bedroom) and 1.75 bathrooms.
Home also has an in-unit laundry room with convenient built-in storage shelves and cabinets. Heavyd-duty secure Marvin sliding doors lead directly to a shared yard with lemon tree and back entrance to a sturdy detached garage with side by side deeded parking space and storage cabinet. Easy in and out parking entrance from cul-de-sac side street means no noisy garage door under the home! Seller is considering corporate rental so this is an extremely limited window of opportunity.
Call for a showing today!