GREEN REALTOR NEWS | Vol. 47
Market Update | Just Sold | DriveClean.CA | Photo Contest
This was a tough one. We had some good guesses but no winner. This mural is at the entry of the Casemore Art Gallery on Minnesota Street in the Dogpatch neighborhood. And now for a big announcement … Esther Vermeer, the Green Realtor News’ Artist-in-Residence since all the way back to our first issue in March, 2021, is hanging up her camera strap. After 47 amazing photos of locations all over San Francisco and Marin, she’s focusing her lens on her new full time job at HenryBuilt in Mill Valley. The Green Realtor News extends huge thanks and gratitude to Esther for her years of creativity and support. We’re so glad her new office is right next door to the Vanguard office on Miller Avenue!
Which leads to the next big announcement…the Green Realtor News is seeking photo contest submissions! Send in your surprise locations in either San Francisco or Marin and maybe they’ll be featured in an upcoming issue. Email your photos or any questions to lucinda@lucindaotto.com. Scroll down to guess the March photo.
Market Update
The market is picking up quickly in both Marin and San Francisco, signaling renewed confidence and fresh opportunities for both buyers and sellers. In Marin County the number of sold listings is up 17% over a year ago while San Francisco is up about 5%. One reason for lower San Francisco sales is less inventory. Months Supply of Inventory (MSI) is a key metric to determine whether the market favors sellers or buyers. An MSI of 4 - 6 indicates a balanced market. A seller’s market generally exists when the MSI is below three months. Currently, San Francisco single family homes stand at 1.3 months, a clear seller’s market, while condos are at 3.4 months, closer to a balanced market. Marin stands at about 2.4 months so while sellers still hold the advantage, buyers are seeing more options than before. With news about tariffs and a fluctuating stock market there continues to be some economic uncertainty, but falling mortgage rates are giving buyers a boost. Last week Freddie Mac reported that the 30 year fixed rate mortgage saw its largest weekly drop since September, motivating more buyers to get into the market.
Just Sold!
1330 Stevenson Street, Unit C201, San Francisco
2 bedrooms | 1 bath | 1 car parking | $549,000
One of the best things about working in real estate is that every day is different. Sometimes I tell friends what I’ve been up to lately and they’ll respond with, “I didn’t know real estate agents did that!” The truth is, we all do (or at least the best of us do) whatever it takes to get our deals to closing while walking alongside our clients during some of the biggest transitions in their lives. This sale required a lot of support and creative problem solving, but at the end of it all it feels great to make a real difference in someone’s life.
This unit is part of the San Francisco Mayor’s Office of Housing’s City Second Loan Program. Qualified individuals making up to $156,300 for a single person (149% of the Area Median Income for San Francisco in 2024) can get up to $500,000 in down payment assistance to purchase homes set aside for the program. There is no interest or loan payments. When the property is sold, the repayment is the loan balance plus a share of the appreciation in the amount that the down payment represents - i.e. a 20% down payment would result in sharing 20% of the profit at the time of the sale. The properties can be sold at a regular market value, so in the case of this condo that was purchased in 2002, the appreciation was significant. Even with sharing 20% of it with the city, the former owner ended up with a nest egg that he might not have had if he stayed in the rental market. Curious to learn more about the City Second Loan Program and down payment assistance? Click on the button below.
Ride and Drive Clean California
According to a recent article in the Marin Independent Journal, Marin Maintains Growth in Electric Vehicle Sales, Marin was in second place out of the 58 counties in California in zero-emission vehicle sales in 2024. The state average is 25% of all vehicle sales while Marin is at 40.1%, a rate that has steadily increased over the past several years. It’s second only to Santa Clara County. San Francisco was 35.6%, which is impressive given the challenges many apartment dwellers face with public charging. While state and local initiatives have made driving a zero-emission vehicle particularly attractive, upcoming new tariffs and the possible cancellation of the federal EV tax credit means time is of the essence for buyers considering a purchase.
Now this may surprise you, but until this week your very own Green Realtor had not yet made the switch to an electric vehicle. While our household owns a fabulous plug-in hybrid, the RAV4 Prime, my primary car was still powered by fossil fuel. Thanks to the 100th Birthday Project we have solar with a high speed car charger at home, making the switch to an EV even easier. Given the present situation with tariffs and rebates, I watched a highly recommended presentation put together by the City of Palo Alto and Ride and Drive Clean California that made it easy to plan my next steps. It showed the different EV’s available, links to calculate savings over time, available rebates, information about installing home chargers and using public charging stations, and connections to dealers for both new (Cartelligent) and used (EMotion Auto) electric vehicles.
If you are considering making a change, Ride Drive and Clean has some resources and local events that will interest you. click the button below to watch a recording of the one hour presentation.
For a live version and to participate in the Q&A, sign up for the April 22 Celebrate Earth Day and Electrify Your Ride event from 12 - 1 pm on Zoom. If you want to check out electric cars and bikes in person, visit the Ross Valley Electrify Your Ride Show on Sunday, May 4 from 10:00 AM - 1:00 PM at the Red Hill Shopping Center in San Anselmo.
Photo Contest
And finally, our photo contest. Once again the Green Realtor News extends deepest gratitude to our former Artist-in-Residence, Esther Vermeer, for her dozens of beautiful photos. Send in your photo submissions!
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!
