GREEN REALTOR NEWS | Vol. 38
Market Update | Coming Soon | 100th Birthday Project | Photo Contest
No one was able to guess the location of our April photo! I thought the position of the hands on the clock would tip you off! In the spirit of “it’s always 5 o’clock somewhere” the hands of this clock are permanently stopped at 4:20 PM which is always the current local time at the corner of Haight and Ashbury in San Francisco. (Why, you ask? Reach out and I’ll fill you in.)
Scroll to the bottom to see if you can guess the location of the May photo. The first person to email me with a correct answer wins a $25 gift certificate to local green business Sports Basement!
Market Update
The May real estate market has been mixed. The good news is that in the past month inventory has increased considerably. The number of properties on the market in Marin topped 300 for the first time in about 18 months, finally giving buyers more choices. At the same time, there has been an increase in higher end single family homes for rent, suggesting that sellers are waiting for a change in the market and buyers may be holding off before committing to a mortgage. There are a lot of buyers looking, but properties that appear to have strong interest during the marketing period are receiving fewer offers than we would otherwise expect. Overall the average number of days on market continues to be low, just 13 days compared to 11 days in April 2023, but there have also been some price reductions for properties that would have sold quickly last spring. In San Francisco, single family homes are up in all key metrics - total price, price per square foot, and number of properties sold. Condos have dropped in price but the total number of sales is up significantly over last year at this time. As we come to the end of our typically busy spring season I’ve seen some relative bargains out there. For a buyer who has cash, or who can qualify for a loan at today’s rates with an eye to refinancing when they come down, opportunity may be knocking.
Click the buttons below for the full market reports
Coming Soon!
1330 Stevenson Street, #201C, San Francisco
Did you know that the San Francisco Mayor’s Office of Housing has a Below Market Rate housing program that allows first time homebuyers to purchase a home at bargain prices? Purchasers have to make under a certain amount for their household size based on the area median income (AMI).
The highest limit for a one person household is $151,300 per year.
1330 Stevenson, #201C, features two bedrooms and one bath in 739 square feet, plus a bay window and a private balcony. The building features a secure entry, elevator, and bike parking in the garage. The unit comes with a deeded parking space. Ideal central location close to numerous transit options, shops, bars, cafes and restaurants. The popular SOMA West Skate Park and adjacent dog park are right down the block. The best part? While we are still waiting for the MOHCD to give us the listing price, similar units have sold for $425,000 - $450,000. That’s right - two bedrooms with deeded parking in the middle of San Francisco for under $500,000!
Know anyone who you think might qualify? Send them my way. This motivated seller is ready to make a deal. Prospective buyers must complete a homebuyer education course and get prequalified with an approved lender, so it’s best to start the process early. Click on the button below for full details on the Mayor’s Office Of Housing and Community Development’s Below Market Rate program.
This is it! The 100th year of our California bungalow in Gerstle Park, San Rafael. We’re working on a number of projects including repairing the wiring on the drip irrigation system, planting Shasta daisies to replace a hedge of fire-prone rosemary bushes and installing a high-efficiency electric heat pump heating and cooling system in the garage. The detached, one-car garage was upgraded by a previous owner with insulation, drywall, recessed lighting and a solar light tube, but it had no heating or cooling. Now that it’s used full time as an office plus moonlighting as a music studio, space heaters and fans are not doing the job. We can’t wait for our Mr. Cool DIY mini split to be installed before summer really heats up. A dedicated electrical circuit is now in place and the unit should be here soon!
And now for the big news…the 100th Birthday Project is going to be featured on the 2024 Marin Green Home Tour! As some of you know, I was a sponsor for the first two years of this remarkable event. A project of Sustainable Marin and guided and promoted by a network of regional partners, The Marin Green Home Tour shines a light on strategies that residents can adopt for healthier, more comfortable homes, smaller energy bills, and cleaner air. In celebration of her 100th birthday, the organizers chose to showcase our home along with five others who have done unusual or innovative projects (they call us “sustainable trend-setters!”) so others can see what their neighbors have done and learn how to do it themselves. The 100th Birthday Project focuses on incremental projects that did not require major remodeling in order to preserve and improve on an older home.
Later this summer the film crew will be arriving for the video part of the tour, then I’ll be live and in person (on Zoom) for the virtual tour itself on October 24, 2024, from 6 - 8 PM. Save the date and more info to come!
Did you know that your very own Green Realtor is a certified green business, part of the California Green Business Network? Click on the image to the left to find a green business near you.
Photo Contest
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!
