GREEN REALTOR NEWS | Vol. 37
Market Update | Just Sold | Notable New Listing | Photo Contest
The market is hopping and spring is getting away from us here at the Green Realtor News! The winner of our March photo contest was the lucky Chris Mahoney! This photo shows the underside of the San Francisco - Oakland Bay Bridge as seen from the Embarcadero, where Chris runs every morning. The palm trees in the photo led us to wonder, why are there so many palm trees in San Francisco anyway? The only palm tree native to California comes from farther south, close to Palm Springs. Palms were originally brought to California’s mission settlements for religious services on Palm Sunday. Later, they were status symbols for the rich and famous. Finally, they were planted for their practicality in the urban environment. They do well in cold, salty wind and have shallow roots that don’t disturb sidewalks. Wherever you plant them they grow straight up, staying out of power lines. Detractors say they give San Francisco a wannabe SoCal look, but some think they make the city feel like an exotic slice of paradise. What do you think?
Scroll down to the bottom to see if you can guess the location (hint: it’s always in San Francisco or Marin) of our April photo. The first person to email me with a correct answer wins a $25 gift certificate to local green business Sports Basement!
Market Update
Things are hot out there! In the last three months single family homes and condos in San Francisco have displayed robust growth across key metrics, including median sales price, median price per square foot and the overall number of sales. The average number of days on market has dropped, indicative of heightened demand and efficient sales processes. The spring has brought a surge in buyer activity, with significant turnout at open houses and many homes receiving multiple offers. Despite mortgage rates continuing to show little downward movement, properties are selling well above asking price with multiple offers on each property becoming the norm.
However, this is not the case for every property. It’s important to underscore that dynamics vary depending on property type and neighborhood. Some areas experience fervent buyer interest while others are more subdued. Strategic property preparation and tailored market strategies are they key to getting the greatest value. Now more than ever, pricing seems to be critical. Overpriced properties sit on the market while those priced under their value typically receive multiple offers and go into contract quickly. This can be frustrating for buyers trying to purchase in a particular price range. Your best resource is a knowledgeable agent who can help you determine the true market value early in the process and structure your offer to be competitive. And remember the old adage: If at first you don’t succeed - try, try again!
Just Sold!
80 Williar Avenue, San Francisco
Listed for $1,249,000 | Sold for $1,450,000
On market for 6 days | All cash offer | 10 day closing
While it’s (almost) always a lot of fun being a Green Realtor, there are certain times that are particularly satisfying. This sale was one of those times. The owners of this home are dear friends who took a chance on me early in my career to help them achieve something they never thought was possible, owning a home in San Francisco. They settled on a property that was in probate with multiple beneficiaries. It was in rough condition and had been on the market for over 100 days. We stuck it out during a long and complicated process and they were rewarded by getting a great deal on a single family home. Over the years they lovingly upgraded every inch of it, adding custom-built cabinetry, closets, skylights and storage galore. Much to my surprise they called a few months ago to say they were ready to sell. Another opportunity had come along that they just couldn’t pass up. All of their work was richly rewarded. We carefully prepared the house for sale and got an overwhelmingly positive response, receiving multiple offers after just 6 days on the market and selling for a price that exceeded our expectations. I’m thrilled for the sellers and proud that I could play a part in what turned out to be life changing for them. The new owners are over the moon as well. The only sad part of this incredibly happy ending is that I’ll miss hanging out with everyone. Guess I’ll have to visit them in Portugal!
Notable New Listing
30 Hodges Alley, San Francisco
Perfect as an artist’s retreat, pied à terre, starter home or development opportunity, 30 Hodges Alley conjures up fantasies from Tales of the City or just a unique urban lifestyle. Tucked away on a hidden cul-de-sac at the edge of North Beach and Jackson Square, this single family home offers a cozy yet spacious interior and expansive views of the bay. Imagine sitting on the window seat next to a roaring fire, looking out at the city lights or soaking up sun on the enormous deck while gazing out at the water. Multiple sliding doors invite indoor/outdoor living while flexible spaces allow creativity. Possible expansion opportunity on the lower level and perhaps even another floor above. Want to take a look? Give me a call! We can tour the house and explore the neighborhood. It’s super fun to see something like this and let your imagination run wild. Listed by Laura Rogers and John Farnham of Compass. Click on the button below to see more.
Photo Contest
This might be a tough one! Extra points to the winner. All of the beautiful photos in our contest are provided by Green Realtor News’ Artist-in-Residence, Esther Vermeer. Esther is a Mill Valley resident with a background in branding and graphic design. Originally from the Netherlands, she moved with her family to Montreal, Canada for a while and came to the Bay Area 14 years ago, where she has since established herself in the world of interior design. She loves to journey around California and discover the lush natural beauty the state has to offer. You can reach her at esther@prevalentprojects.com.
If you know the location email me at lucinda@lucindaotto.com. The first person with a correct guess wins a $25 gift card to Sports Basement.
I hope you enjoyed the Green Realtor News! If you know anyone buying or selling, or if you are curious to hear more about the market, please don’t hesitate to reach out. I’d love to help you or your friends make moves. As one of my happy clients loves to say:
Everyone Needs A Lucinda!
