Charlotte’s San Francisco Real Estate Blog

There are still great opportunities if you want to Rehab a home. My very favorite after a few weeks searching is 223 28th St. Located in Noe Valley, this is either a four unit home or a single family home with two one bedroom in-laws.  The in-laws each have separate entrances. The previous owner was running these as overnight vacation rentals, and they are brand-new, although probably not what you would want if you were planning on a long-term rental as they are a bit small. The previous owner put in all new foundation, copper plumbing, separate tankless water heaters, new electric for the downstairs units, and significant drainage work around the foundation. So the really expensive, horrible stuff if you are a cosmetic rehabber is done.

 What’s left to do? The entire very large upstairs needs work- new kitchens in both of the units, or pull out the upstairs kitchenette and just have one big kitchen downstairs for a single family experience. What I love about the upstairs is the size of the bedrooms, living room, dining room, and kitchen. I don’t have square footage for you, but think HUGE, ballroom-esque for the living room. And what a great location. Also of note is that there are two gigantic redwood trees in the mature landscaped back yard, which I find to be lovely and unusual.

Email me at charlotteerwin@zephyrsf.com if you are interested in this or other rehab properties.

Did you hear about the Realtor Ants? As in the insects?

Seems that when ants need to move (which begs the question, what happened? Did they annoy their neighbor? Not pay HOA dues? What?) they consult a Realtor Ant, who finds them a new home. Weird! And though I know better than to believe it if I hear it on “Car Talk,” this was recently heard on the “Wait Wait, Don’t Tell Me” quiz show on NPR, which I do tend to believe. Possibly this changes all known thinking about the world’s oldest professions…but I digress.

I apologize for my long absence, though it is questionable if anyone would notice. I have, happily, been selling houses this month, and it has taken me from my blogging hobby. The San Francisco Market has seen a spike in activity in April that is hard to explain, other than the extremely low interest rates currently being enjoyed. The largest group of buyers are first time homebuyers.  Way to go, first time homebuyers! We have seen multiple offer situations in more of Zephyr’s sales this month than not. Not all of the multiple offers went over asking, in fact, many were below, but multiple offers nonetheless.

Hilarity from my last Open House:

A neighbor came by who was clearly happy; he mentioned that he was killing time while waiting for a plumber; the disposal was on the fritz. He liked the house, we had a cheery conversation about termites, which he knew more about than he was saying if you ask me; this because he is Dean of  a local university and California’s most preeminent entomologist is his friend and coworker. That friend’s specialty? Termites. Un-huh. I think you know where we’re heading here…or maybe not. Turns out the orange oil that is used overwhelmingly has a decidely low kill factor, which explains why it costs so much, and you get a 5 year warranty- they have built in the cost of re-doing the work. So what is so funny about that? Well, his wife walks in a few minutes after he leaves, looking decidedly less happy than her husband, though thoroughly pleasant; and after touring the house for a few moments, says, “It’s really nice. Maybe we should sell our house and move in.” I asked what was it about the house that she particularly liked and she said, “The Disposal Works!” Well, I thought it was funny. Maybe you had to be there. I attempted counseling her that with patience, her disposal too would be restored to working condition and that moving might not be necessary. At least not for that reason.

OK; so my drivel about inflation being imminent was wrong, or so says most any economist you want to ask. http://www.nytimes.com/2009/04/07/business/economy/07capacity.html?_r=1&scp=1&sq=April%207th%20article%20about%20recovery%20&st=cse (If you want to totally depress yourself, read this; if not, go on your merry way!)

Or was I? I just watched clients lose out on a delightful yet flawed and, I thought, overpriced property. They bid $60,000 under asking on an almost million dollar property. Two other buyers overbid the asking significantly and one of them walked away with it.

One home was cancelled on today’s Broker’s tour- usually a sign that the property went into contract and is no longer available. A second was open but had gone into contract just this morning. In February of 2008, there was some 15.5 months of inventory on the market. As of February 2009, it’s only 5.6 months nationally, which technically is not a buyer’s market. But given that I do read newspapers and listen to various media sources, and I don’t like being contradicted by people who actually prognosticate for a living, far be it for me to say the San Francisco market is turning. So I won’t. But I will say that if you find a property you really want to live in, I’m thinking you need to put your best foot (and offer) forward.

With that in mind, there are some amazing properties out there this week. Here are this week’s favs:

3184 Mission St. Condos-

2 Bedroom/2Bath/2 Private Decks/1Parking, 1260 Sq. Feet $560,000

2 Bedroom/2Bath/Private Deck/1Parking, 1168 Sq. Feet $549,000

If you can swing $1,000,000, here’s an “Architecturally Significant” Rousseau style 3 bedroom/ 2 Bath room home straddling Bernal and Glen Park neighborhoods. It is on a busy street, but I did not hear any street noise inside. It also sports a huge 2 car side by side garage. And please; no whining that it’s not in Noe or whatever; we couldn’t afford it if it was.

425 Bosworth Street-

That concrete has radiant heat underneath it. Cool.

Well that was it- a lot of dreck but unearthed two finds, which is a pretty good tour. Email me with your real estate questions, musings, concerns, at charlotteerwin@zephyrsf.com. I’d love to know what you’re seeing, experiencing, and buying.