Real Estate Update for San Francisco Homebuyers and Sellers
courtesy of:
Eileen Bermingham
DRE# 01352627
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In This Issue…

Most Recent Sales
San Francisco Market Overview
Property Tax Update
Dolores Park and Stow Lake Improvements
Glen Park is Heating Up
San Francisco Market Overview 
  Single Family Homes Condos/TICs/Lofts 2-4 Units
Median Sales Price, last 180 days
% Change from prior 180 days
Avg. Days on Market, last 180 days
% Change from prior 180 days
Property Tax Update 

San Francisco property owners will have to dig a little deeper into their pockets come December and April when Property Taxes are due. Before you panic, call your Realtor and head for cheaper pastures, read the details!

The city is raising property tax in accordance with Proposition 13 which allows for a cost of living adjustment of property values. This year the state has approved a .753% increase. (The only other time property taxes change in San Francisco is upon the sale of a property when the value is re-assessed).

The property taxes in San Francisco will increase to $1.1718 per $100 of assessed value. This is expected to boost the total property tax revenue in SF to $1.33 billion this fiscal year.

For example, owners of a $500,000 home will see an increase of $82.57 over the fiscal year.
Dolores Park and Stow Lake Improvements 
As we enter the sunny season in San Francisco, let's take a quick peek at two park projects:

Dolores Park: Clearly the most talked about renovation of a park since we broke ground on what now is AT&T Park! As you well know, Dolores Park is undergoing a major renovation and the daily battles being waged between different interests have galvanized the community. Park and Rec has released their latest plan and it includes the following:

• A large soccer field for youth soccer, which will be closed to the public from 3-6 pm daily for soccer games.
• A Bike Polo court. You read that correctly -- apparently Bike Polo is as hot as skinny jeans!
• A very large children's playground that cuts into the eastern half of the "shelf" -- an area used by a sunbathing crowd not typically accustomed to interacting with children!
• A 12 foot wide road to accommodate walkers and maintenance vehicles.
• Two new restrooms!
• The 19th Street Muni station will be demolished and sodded over.

Stow Lake: For 68 years the same company has been running the Stow Lake food and boat business. That's about to change! On Monday the business closed its doors and by the 15th the McLellan family is expected to fully vacate the premises. Ortega -- a New Mexico based company -- is hoping to open their new business later in September and promises new rowboats and paddle boats and a much larger, robust cafe. They are going to turn the current boat repair shop into a cafe and upgraded snack bar and move boat maintenance operations to the backside of the space.

Sounds great, but many are fearful this will make the lake far too commercial and it will lose it's 1940's feel. We'll wait and see -- and paddle!
Glen Park is Heating Up 
We're focusing on Glen Park in this edition. About the only constant in Glen Park over the course of the last 30 years is the BART station. This neighborhood might be unrecognizable to those who lived there in the 60s. A bustling Chenery Street now hosts several destination restaurants and cafes. The neighborhood has a high-end grocery store, a bustling commercial district and condo projects -- something that didn't exist until the late 90s. Here's a peek at some hot properties:

Single Family Homes

The High
102 Conrad Street - $1,997,000
4 bed, 4.5 bath, 2 car parking
Light-filled multi-story modern home with City and Bay views. Media room, wine cellar, multiple decks and a grass yard highlight this home.

The Low
293 Surrey Street - $699,000
3 bed, 2 bath, no parking
Remodeled kitchen and bathrooms, new deck and a great Glen Park street. On the market for over 200 days--make an offer!

Open Sunday
378 Arlington Street - $799,000
3 bed, 1.5 bath, 3 car parking
Updated kitchen with French doors leading to a large yard. Radiant flooring, new roof and clean pest inspection.

Condos - The only one!

168 Everson Street - $879,000
3 bed, 3 bath, 2 car parking
PRICE REDUCTION - 1,916 square feet, remodeled from top to bottom, 2 fireplaces, incredible downtown views and a gourmet chef's kitchen.

Eileen Bermingham • 415.823.4656 • ebermingham@zephyrsf.com
Recent listings, sales, and market data are based on information from the San Francisco Association of Realtors MLS for the periods shown.
Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS.