Eileen Bermingham's Blog

Sales Rise for Big Units in Hip 'Hoods

Posted On: Friday, September 16, 2011 - 6:00am
Topics: Buyers and Sellers

One trend I'm seeing this year is an increase in sales for large condos and TICs in hot neighborhoods like the Haight, Hayes Valley, Mission Dolores, and NoPa.

What I think is happening---and which I've also heard from some of my colleagues---is that buyers are snapping up these properties due to their need for more space to accommodate existing or growing family needs.

How Neighbors Can Affect Property Values

Posted On: Wednesday, September 14, 2011 - 6:00pm
Topics: Buyers and Sellers

So I had clients who stopped in at an open house I recommended they see over the weekend in the Lake neighborhood. They were interested in one of the units in a two-unit building that was pretty great. The building had a nice floor plan, was located on a lovely stretch of Lake Street and parking was included. The garden was cute and private.

They basically liked everything about it—except the bee hives in the yard next door (see above).

In a city as dense as San

Announcing The TIC Workshop

Posted On: Thursday, September 8, 2011 - 6:00am
Tags: seminars, tenancy-in-common, TICs | Topics: Buyers and Sellers

Tenancy-in-common properties (TICs) aren't always the most straightforward of property types. I get regular inquiries from confused home seekers who've come across a large remodeled flat in, say, NoPa, that seems like a good deal. And it might be.

But it's not a condo, it's a TIC. And there are big differences between condos and TICs.

Wanted: Cash Buyer for Mission Dolores Units

Posted On: Wednesday, August 24, 2011 - 6:00am
Topics: Buyers and Sellers

I walked through the three-unit building at 3883-3885 20th Street yesterday on broker tour. This is a vacant, 3,280-square foot building with two main units and one housekeeping unit that fronts the south end of Dolores Park.

Listed at $1.3M, the sale will include approved plans and permits to remodel and legalize the property as a two-unit building

Clarendon Craftsman Makes Comeback

Posted On: Monday, August 22, 2011 - 6:00am
Topics: Buyers and Sellers

The 4BR/4BA double-wide Craftsman home at 53 Clarendon in Clarendon Heights was last sold in a court-confirmed sale for $2,210,000 in October 2008. The new owners then fully renovated the property in 2009, and promptly put it back on the market in May 2009 for $3,485,000. That didn’t work, and another failed sales attempt was made later that year with a list price of $2,999,999.

It’s almost a year later, and the price hasn’t dropped much. 53 Clarendon is now listed

State of the TIC Market: August 2011

Posted On: Monday, August 8, 2011 - 6:00am
Tags: fractional loans, sterling bank, tenancy in common, TICs | Topics: Buyers and Sellers

The tenancy-in-common (TIC) market in San Francisco has seen its share of ups and downs. I'm happy to say that this market is alive and well---and actually thriving---despite economic uncertainty.

That's because the rise of fractional loans has enabled buyers to purchase a building together without having to be on the same loan. The latter has always been the inherent huge risk in a TIC situation. The goal of purchasing an interest in a 3+ unit building was always that of

Wanted: Deep-Pocketed Developers in Jordan Park

Posted On: Friday, August 5, 2011 - 6:00am
Topics: Buyers and Sellers

For all those smaller San Francisco developers looking for a unique, large lot on which to construct a mansion or a multi-unit project, there's somethin' goin' on for ya at 46 Cook. Located on a private cul-de-sac off Geary, the property encompasses the 3BR/1BA Victorian cottage you see above on a triple lot with a 75' frontage and a 120' depth. Each lot

Challenged Pac Heights Vic Closes Escrow After All

Posted On: Monday, August 1, 2011 - 6:00am
Topics: Buyers and Sellers

First listed back in September 2010 for $2,995,000, the 5BR/3.5BA Victorian single-family home sans garage at 2679 California Street closed escrow last week. That's 305 days on market (DOM) for this baby, and the road to closing the chapter on this home sale wasn't exactly smooth.

The property went through multiple price reductions, as well as three stints in contract that didn't work out. The sellers were obviously sensitive to their ultimate price, as they paid just over

The Top 5 Biggest Seller Mistakes

Posted On: Wednesday, July 27, 2011 - 6:00am
Topics: Buyers and Sellers

We're approaching the busy Fall real estate season, so I thought it might be a good time to give a shout out to all those prospective San Francisco home sellers out there who are thinking of putting their homes on the market in September or October.

I've been doing my job long enough to recognize good and bad seller strategies and decisions. So I thought I'd round up the bad ones to potentially make things smoother for some sellers this year.

Here are my top five home

Approved Short Sales Worth the Effort

Posted On: Wednesday, July 20, 2011 - 6:00am
Tags: short sales

Many buyers in San Francisco either shy away from short sales because they seem too complicated, or gravitate toward them with the goal of getting a good deal. The reality is that short sales can be lengthy, disappointing, and simply facilitate the bank getting market rate for a property.

But properties being sold through short sales can sometimes be decent deals. Lenders want to minimize their losses, but they're not going to get emotionally involved. So they will typically

Eileen Bermingham

Eileen specializes in representing buyers and sellers of single-family homes, condominiums, TICs and multi-unit buildings in San Francisco.
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