Let’s face it: If you don’t like kitchen and bath finishes, you can change them fairly easily. Ditto that for, say, flooring, windows and even the size of a garage. But a bad floor plan is baked into a home’s design. Fixing it can mean gutting the interior and reconfiguring rooms to create a more livable layout—a costly and often complicated undertaking.

I recently toured a large house with what I consider to be a bad floor plan. The bedrooms were on the garage level and didn’t get much natural light. The kitchen and dining room were on a separate level from the living room. The only way to really fix this would be to start from scratch—and maybe include an elevator in the mix.

I’ve also been through condos where the bathroom is accessible only through a bedroom. Or houses that have hallways with poor circulation and create awkward detours in order to reach certain rooms. I could go on.

Some floor plans are not necessarily inferior, but they can turn into dealbreakers for the main demographic looking for a home in that particular neighborhood. For example, families with small children aren’t typically clamoring to buy houses with bedrooms scattered across multiple levels.

If you’re a homeowner preparing to sell, take an honest look at your property’s limitations and set your price expectations accordingly. It’s also worth tailoring your marketing to buyers whose needs and lifestyles are a good fit for the home’s layout.

The post What’s One of the Biggest Dealbreakers for Buyers? first appeared on Inside San Francisco Real Estate.

For those of you unfamiliar with the Presidio Wall, it’s a long stretch on the south end of the Presidio that backs up to the park. So the homes along the wall essentially have the Presidio in their backyard, which is a unique benefit.

20 Cherry is a 10,000-square foot mansion built in 1966 on a 13,446-square foot lot, which is just over a quarter of an acre. What’s interesting about this sale is that the interior is ready for an overhaul. For example, here’s the current kitchen:

But buyers for these types of homes know that the ultimate objective is to secure a desirable lot and location.

Listed for $18,500,000, 20 Cherry closed yesterday for $28,500,000 in an all-cash transaction.

The post The Power of the Presidio Wall first appeared on Inside San Francisco Real Estate.

A total of 1,196 single-family homes have sold year-to-date, with 42% of those transactions completed in cash, according to the San Francisco Multiple Listing Service. This marks a significant increase from the historical norm of approximately 25% cash sales over the past several years.

The average price for all these cash transactions was $3.5M, so it’s fair to say that many cash buyers are not looking for cut-rate prices on houses here. Buyers and their agents know that cash transactions provide a huge advantage because of the lack of complications connected to appraisals and loans.

The highest concentrations of cash sales took place in Bernal Heights, Eureka and Noe Valleys, the Richmond, Sunset and Parkside.

And that photo above? That belongs to 628 46th Avenue in the Outer Richmond, which just closed for all cash at $3.4M.

The post Cash is King for Competition, Not Discounts first appeared on Inside San Francisco Real Estate.

Sold: $6,351,000

Congrats to my clients on their new home!

The post Just Sold: 346 Duncan in Noe Valley first appeared on Inside San Francisco Real Estate.

Set to take effect in 2032, the law will require HOAs to allocate at least 15% of their annual operating budget to reserves. Here’s some background: HOAs are required to conduct reserve studies every few years. These studies assess a building’s major components, estimate their remaining useful lives and project repair and replacement needs over a 30-year period. The results help determine how well-funded an HOA’s reserves are relative to its anticipated expenses.

If a reserve study indicates that an HOA may not have enough money to cover projected expenses over that 30-year period, the new law will require it to set aside at least 15% of its separate operating budget for reserves each year. If the HOA cannot maintain adequate reserves, it may need to levy a special assessment, requiring homeowners to contribute additional funds to cover the shortfall.

In all likelihood, this new law will put upward pressure on monthly HOA dues, which are already at historically high levels in San Francisco due to rising insurance premiums and other operating costs. Most condo HOAs today fall well short of being 100% funded. It’s also worth noting that reserve studies are estimates, not definitive predictions of future repair and maintenance needs. They rely on formulas and assumptions to project when major expenses are likely to arise.

That said, I believe larger buildings should maintain reasonable reserves to cover ongoing maintenance and repairs. In my opinion, an HOA that is more than 50% funded generally shouldn’t be cause for emergency-level concern, although every building’s circumstances are different.

Regardless, HOAs will need to comply with the new law. If you’re considering buying a condo in the next few years, keep in mind that you may be asked to help build up the association’s reserves at some point during your ownership—particularly if the HOA is currently underfunded.

The post New Law Targets HOA Reserve Funds first appeared on Inside San Francisco Real Estate.

The living room is an inviting place to relax, with a decorative fireplace, built-in shelving, and leafy outlooks. Pocket doors open to a double-parlor bedroom with a custom closet system. Two additional bedrooms include a spacious primary and a front room well suited to an office, nursery or guest room.

A formal dining room offers an elegant setting for dinners and gatherings, while at the rear of the home, the remodeled eat-in kitchen features a center island, custom cabinetry, stainless-steel appliances, and direct access to a sunny private deck with built-in bench seating. Stairs from the deck lead down to a shared patio and yard.

Two full baths include one with clawfoot tub, oversized shower and ample storage. Additional amenities include in-unit laundry, central heat with Nest thermostat, newer windows, independent garage parking and exclusive-use storage room. HOA dues are $500/month and include building insurance, water and trash.

Located in the vibrant Mission, this home is close to the restaurants, cafés, and shops along 24th Street and Valencia. Well connected for commuters, with easy access to BART, freeways and tech shuttle stops.

List price is $1,295,000

See more at 279bartlett.com

We’ll be open this weekend on Saturday 10/10 (2:00-4:00) and Sunday 10/11 (1:00-3:00). Stop in and say hello!

The post Just Listed: Victorian Condo in the Mission first appeared on Inside San Francisco Real Estate.

We received multiple offers and closed for $1,575,000. Congrats to my client, with whom this was my fourth transaction. And best wishes to the new 224 Bowdoin owners!

The post Just Sold: Charming Portola Home first appeared on Inside San Francisco Real Estate.

Construction defects are unfortunately pretty common in new buildings—everything from water intrusion (the most common one) to inadequate ventilation or faulty sewer systems. It’s actually quite common for homeowners associations (HOAs) to investigate any and all building components and their potential issues within the first ten years of construction. That’s the timeframe HOAs have to report defects to the developer if there’s any hope in getting repairs done, as per what’s called SB 800.

SB 800 is a law that went into effect in 2002. It’s applicable to all newly constructed single-family homes or condos intended to be sold as individual dwelling units where the purchase agreement was signed by the seller on or after January 1, 2003. (But it doesn’t apply to condo conversions.) Here are the law’s key points​:

There are seven building components covered under SB 800. Defects you discover related to water intrusion, structural, soils, fire protection, plumbing, sewer and electrical are all included.

There are different statutes of limitation for different claims. There’s a general ten-year timeframe for reporting construction defects. More specific items in categories like paint, plumbing/sewer systems, earth-to-wood contact, and what’s called “fit and finish” (cabinets, flooring, and the like) have a one- to five-year warranty, depending on what category you’re talking about.

If you discover a defect, you can’t immediately file a lawsuit. One of SB 800’s goals is to reduce litigation between builders and homeowners. The law outlines a detailed pre-litigation procedure that a homeowner has to follow before filing any lawsuits—stuff like giving written notice of the defect to the builder via certified mail. Builders have a specific timeframe in which to investigate and respond to the claim. Mediation can be involved. If you don’t file your complaint according to these procedures, you may end up with no resolution.

When you’re signing a purchase agreement for new construction property, make sure you read the fine print. Again, it’s wise to consult a qualified real estate attorney who can review the contract and addenda.

And if you’re purchasing a condo in a building that’s nearing its 10-year statue of limitations, do inquire about potential HOA defect claims reported to the developer. It’s good to know what’s on the horizon if repairs are on track to be done, and whether the developer will be covering those costs.

The post The 411 on CA’s Construction Defect Law first appeared on Inside San Francisco Real Estate.

Here’s a checklist of things to monitor:

Roof leaks. Check for staining or wetness around vents, exhaust fans, and skylights. Make sure your flashing is not corroded or in disrepair. If you have an attic, it’s a good idea to get up there and make sure everything is dry.

Damp areas on garage floors. Water can enter underneath doors and overwhelm interior drains, leading to standing water that can do damage. Make sure all drains are cleared. You also might notice cracks in the concrete where water is coming up through the ground. There are many reasons for this activity, but I recommend consulting a contractor who knows his or her way around a foundation.

Pools of water at the back of the building. Many homes in San Francisco are on hills or inclines. Water can run toward the house as a result. It’s important to have adequate drainage to divert water away from the building so it doesn’t ultimately undermine the foundation or get through doors.

Dry rot around windows and doors on the interior and exterior. Most leaks happen at the joints and corners. This can be an easy fix with caulk or another type of waterproof sealant.

It’s all about having a sound roof, functional drainage system and sealed windows/doors. Hit me up at eileen@insidesfre.com if you’d like recommendations for inspectors, roofing companies or plumbers.

The post Watch Out For Water Intrusion first appeared on Inside San Francisco Real Estate.

How exactly do conforming loans benefit buyers? In short, you’ll get a better interest rate and lenders will be more flexible on credit scores and down payment amounts. If you borrow more than that $1,267,500, it’s considered to be a jumbo loan, which doesn’t offer as favorable interest rates and terms.

Multi-unit buyers will also get more loan leeway. The maximum conforming loan limits are:
2 units: $1,622,925
3 units: $1,961,700
4 units: $2,438,025

Quick background: The Federal Housing Finance Agency sets the loan limits each year and applies to mortgages that government-sponsored agencies Fannie Mae and Freddie Mac acquire. These two agencies stabilize our housing market by buying and packaging up mortgages, and then selling them to investors. This creates a secondary mortgage market, keeping things moving and resulting in lower interest rates for consumers.

It’s an excellent time to consult with a mortgage lender to see what you can qualify for in 2027. I think this new conforming loan limit will motivate buyers to get into the San Francisco market next year, and I’m happy to connect you with a trusted lender if you’d like to speak with one. Get in touch with me at eileen@insidesfre.com and I’ll hook you up.

The post Conforming Loan Limit Will Again Rise in 2027 first appeared on Inside San Francisco Real Estate.