I’m often asked what types of properties are available in San Francisco in the $300,000-$350,000 range. And I have to say that there aren’t many. But I thought I’d profile a couple different offerings that have sold recently in this range. Of course, in other parts of the country you can buy yourself a sweet house for this amount of money. But as usual, things are different in San Francisco, particularly if you want to be in a desirable neighborhood with a lot of restaurants and services nearby.

First up is 1452 Waller #2:

This Cole Valley studio is in a great location at Downey, and has nice Victorian detailing throughout, such as high ceilings and oversized bay windows. The unit has nice light, a lovely shared garden, hardwood floors, ample closets and cabinets, and HOA dues of $99/mo. (There is no garage in the building.) There are also only two other units in the building, which makes things manageable. This unit sold for $330,000 last week, and was listed at $275,000. Keep in mind that Cole Valley is one of the most desirable neighborhoods in the city, and home prices are typically very high.

Another recent sale was over at 2 Fallon Place #9, in Russian Hill:

This studio is about 500 square feet and is located in a 60-unit complex built in 1980. The kitchen and bath have been remodeled, and the unit has expansive views toward Coit Tower. One-car parking is included. HOA dues are $466/mo and property amenities feature a tennis court, roof deck with panoramic views, laundry, twelve overnight guest parking spaces, and earthquake insurance. Here’s a very cool shot of the tennis court against the backdrop of San Francisco’s skyline:

This property sold in August for $345,000, and the list price was $299,900.

Keep in mind that you can get more space (and potentially, a parking spot) for your money if you’re flexible on your selection of neighborhoods. In San Francisco, that’s what it all comes down to.

Not ones to let the grass grow under their feet, the sellers of the six units at 83-85 Brady just reduced the prices on five of the six condos.

The units came on the market around August 6-7 with two studios; two 1BR+/1BAs, one 1BR+/2BA, and one 2BR+/2.5BA. Prices ranged from $285,000 for a studio to $825,000 for one of the two bedrooms.

But buyers haven’t bitten, and prices have just been slightly reduced. Here’s the lineup:
Studios
#2: Was $375,000, now $349,000
#4: Was $285,000, now $275,000

1BR+
#1: Was $575,000, now $549,000
#6: Remains at $749,000
#3: Was $585,000, now $549,000

2BR
#5: Was $825,000, now $799,000.

If you have any interest in these condos, you may be able to get a pretty decent deal. (And I’m talking about further negotiation on price. If you ask me, that #6 should’ve had a reduction, too.)

If you’re an east coast transplant looking for that perfect New York-style condo in a tony, walkable neighborhood, 2785 Jackson #2 may be perfect for you. But if those walks involve your dog, keep moving.

The CC&Rs of this six-unit homeowners association prohibit dogs. Cats are okay, but no dogs. If you don’t have any canine companionship, you can take solace in the unit’s John Wheatman-designed kitchen, and spacious floor plan that includes three bedrooms and three bathrooms. There’s also a small private deck off the kitchen that could be a perfect place for your feline’s naps, as well as one-car parking and storage. List price: $1,745,000.

True to form, the San Francisco real estate inventory spiked after Labor Day weekend. A total of 157 single-family homes, 167 condos and 45 TICs hit the market, in a variety of price ranges.

Of course, many “new” offerings weren’t really new—just brought back on at revised prices, with new listing agents, or revised staging.

Given that the most popular price range in the city has been anywhere from $400,000-$800,000 this year, the new inventory in the higher price ranges isn’t helping matters for existing high-end home sellers. Of those 157 single-family homes newly listed, 38 are priced at $1.5M or more. And of those 167 condos, twelve are in that range. Prior to Labor Day, there were 132 houses and 61 condos listed at $1.5M or more, so those properties may have to take a back seat for a little while as buyers turn their attention to the latest and greatest offerings.

But those buyers who have been looking for a little while should revisit homes that were on before Labor Day. Those sellers may be most willing to negotiate, especially as the end of the year looms.

Featuring four fireplaces and more “fire brick” than you can shake a stick at, the 3BR/3.5BA single-family home at 2076 Grove is perfect for those buyers interested in doing their share to wear down the ozone layer.

The entry fireplace lets you know right away that Christmas in this household may be over the top when it comes to hanging stockings:

And let’s not foget about the living room fireplace:

Or the dining room one:

In short, you won’t need to tune your television to the yule log on Christmas Eve. The house is around 3600 square feet, and also has separate guest quarters and expansive formal gardens. List price: $1,925,000. (Open Sat 9/18 and Sun 9/19 from 2:00-4:00 for those of you who like to plan ahead.)

Every once in a while, a particular street will see a spate of For Sale signs. Today we look at four recently listed luxury properties on Elizabeth, a desirable street in the heart of Noe Valley.

First up are two single-family houses. 760 Elizabeth is a 3BR/2.5BA Edwardian with three parking spaces listed at $2,295,000. The property was converted in 2002 from a two-unit to a single-family dwelling.

A few doors down is the ultra modern 729 Elizabeth, a 4BR/3.5BA, 2,750-square foot house with an open floor plan, beautiful finishes, and lots of natural light:

729 Elizabeth is listed at $2,495,000. Recently signed-off work on this home includes vertical and horizontal rear additions involving new bedrooms and baths.

And finally, we have two newly renovated condos at 489 and 485 Elizabeth. 489 Elizabeth has 4BR/3.5BA and 3,113 square feet and is listed at $2,095,000:

The unit also has a top-floor office mezzanine space, five outdoor spaces, and ample natural light.

Lower-unit 485 Elizabeth has 3BR/2.5BAs, and 2,384 square feet. It also has a deeded yard:

List price for the lower unit $1,775,000. Both condos have elevator access, radiant heat and two-car parking.

So readers, if you had around $2M to spend, which property would you buy?

It’s always disappointing when one of my reputable, experienced and hard-working colleagues brings on a potentially overpriced listing and gives it his or her best shot for half a year—only to have the listing yanked and given to another agent.

Such is the case at 1322 Masonic, which hit the market earlier this year. The 4BR/2.5BA, 3400-square foot house was initially priced at $2,395,000 and then was reduced by $100,000 in June before the sellers withdrew the listing in July.

The house is now back on the market, with—you guessed it—a new agent, similiar price of $2,295,000, and new staging. I thought the floor plan was a little funky in terms of flow when I toured the home (probably due to the fact that the property was previously a five-unit building). However, I’m sure there’s a buyer out there for this home; it’s just a matter of timing. But sellers, before you spin your wheels changing staging, agents, and anything else you can think of, consider this basic tenet: A realistic price will do wonders for helping to snag a buyer, and close your sale.

I have many clients who live in Bernal, and am often asked how the market is doing in the neighborhood. The Bernal real estate market is usually pretty healthy; buyers like the favorable weather, as well as the close proximity to the Cortland retail strip and freeways. First-time home buyers typically target Bernal because the homes are generally smaller and thus more affordable in comparison to other nearby areas like Noe Valley.

Bernal Heights is divided into a few key areas—the north slope, which is arguably the most desirable; west slope, which is closer to Mission but is also very desirable; the east slope, which is a little more remote and can come a little too close to Bayshore and Hwy 101; and the south slope, which features the appealing Holly Park area (but can get a bit less desirable the closer you get to Hwy 280). Architecture runs the gamut, and includes Victorians, Edwardians, and boxy 1940s offerings.

Many homes change hands in a given year in Bernal, so inventory is not usually a problem. To date, 96 single-family homes have sold at an average price of $753,805, with a 1,370 average square footage. Thirteen of those homes sold for more than a $1M, but this price range is usually in the minority. Your dollars at the higher end in Bernal will get you more house than in nearby Glen Park or Noe Valley.

There are currently more than 40 single-family homes and eight condos on the market in Bernal. Though condo sales aren’t as common in Bernal, they do happen. Condos usually don’t rise above the $700,000 price point; however, Bernal isn’t where most buyers go to purchase condos. (More likely neighborhoods for condos would be the Mission or Noe.) Notable homes currently available include 91 Winfield, a 2BR/1BA with a bonus room, listed at $629,000, as well as a very nice Edwardian listed at $949,500 at 212 Banks that has 3BR/3BA and 2,385 square feet.

I think Bernal is the type of neighborhood that will continue to perform pretty well throughout this economic downturn; its average sales prices are smack dab in the middle of the range where most homes are selling in San Francisco. Add to that the fact that you can own a house for what a condo would cost you in more pricey neighborhoods, and it’s no surprise that many homes on the west/north slopes sell with multiple offers.

When I last blogged about 2846 Fillmore in June, the home had been sitting on the market for about a month. Its original list price of $3,475,000 had just been reduced to $3,249,000.

And last week, the property sold for $2,975,000–half a million below its seller’s original expectations. I think this particular sale was worth noting, because it shows you what’s possible on the luxury level in the current market. And more importantly, it demonstrates why some buyers in this price range are sitting back and anticipating further price declines. After all, if a seller is truly motivated—as in the case of Fillmore—and is genuinely willing to accept a price at what the market will bear, a buyer can get a good deal.

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