Hot Heights Market
This is the title of the Chronicle’s Neighborhood section “Ultimate Heights” last week. A page and and half was devoted to an interview with Heights Realtor, Rich Martin (yours truly) describing the current Heights market.
I described how home sales are up 20-25% over last year. More importantly though, the days on market is half of the typical 90 days it was last year. A good portion of the homes are selling within a few days. Newspaper interviews are always rambling, but home sales, market conditions and some info on pricing were given. Here is link to the Chronicle article Heights Hot Market.
The article shows the big renovation/expansion of a ca. 1900 Victorian home that HDT Builders just completed and has under contract. It also shows Dee Todd Simmons (partner with Dave Hatcher in HDT Builders) working on her next renovation at 1845 Harvard St.
Renovations in the Heights go through cycles. A few years ago there were none. Prices were too high and it was easier to tear them down. Now in historic areas (and the Heights now has 7 historic areas) you can’t tear them down. You can add-on to the rear, or add a second floor to the rear of the building, but tearing down is almost impossible. So, remodeling is popular again. Popular, but very expensive. I can show you a half dozen homes where the back half of a house has been sawn off and a big 2 story addition is being done. Finding land or homes to remodel is becoming impossible. It really is a crazy market.
Two of my clients were also interviewed for the article. Kelsey Trom just bought an old Victorian (also in a historic district) that she and her Dad are gutting and re-doing. So far, they seem to be enjoying it. Michael Crowe was also interviewed. He and his partner Steve Sim have moved several times, but they always stay in the Heights.
HDT’s renovation of 1845 Harvard will be on the market soon. It is framed, roofed and Tyvec is on. It will be stucco’d in keeping with the original look of the house.