Buyer’s Market: New Developments Offering Limited-Time Incentives

It’s no secret that San Francisco’s real estate market has been adjusting to higher mortgage interest rates. The shift has resulted in a temporary slowdown in the pace of sales and rate of price increases. This has created a unique opportunity to buy a home, especially new construction condominiums.

› This market cooling is nothing like the mortgage meltdown of the late 2000s and shows no signs of causing a significant decline in property values. In fact, according to the latest data reported by NorCal MLS Alliance, the median price of condominiums in San Francisco is up 4.2 percent year-over-year.

› Hopeful home buyers today will benefit from substantially less competition (and can avoid multiple-offer scenarios with massive overbids). If you see a home you like, you can actually have it at the list price in many cases — and sometimes for less!

› An abundance of inventory amidst falling sales activity has sellers competing for buyers and making concessions not seen in a decade. Sellers are inclined to discount price, contribute to your closing costs, cover your HOA dues — even buy down your interest rate. To get the most out of purchase negotiations, you MUST be accompanied by an agent on your first visit to a development’s sales center: we specialize in representing new construction buyers.

› When the San Francisco market returns to its typical frenzy of too much demand and too little housing supply, today’s opportunity will be suddenly gone. Don’t miss this chance to get in while the getting is good.

Below, these six new developments are offering home an array of limited-time incentives. Some will credit 12+ months of HOA dues to new owners upon close of escrow, others will give up to $25,000 toward unit upgrades. In many cases, Bank of America — a preferred lender — will allow qualified borrowers to purchase a home with 5 percent down and give up to $17,500 in special grants. All promotions are subject to change without notice and restrictions apply.

Only a fraction of available homes in these developments is marketed to the public. If you are looking for a particular number of beds/baths, layout, floor level or other characteristic, please reach out to us.

SERIF | Tenderloin

Punctuating San Francisco’s dynamic Mid-Market Corridor with its striking contemporary flatiron design, Serif is as much a lifestyle destination as it is a starting point for living up an unrivaled urban experience. The long list of resident perks at this Tenderloin development includes a state-of-the-art fitness center, private dining room, landscaped rooftop solarium with bar and co-working space, and access to amenities offered by the LINE hotel. See a sampling of inventory.

1288 HOWARD | South of Market

Situated in bustling South of Market, 1288 Howard is uniquely designed for the new urban experience. Spanning two mid-rise modern structures connected by skybridge over an intimate pedestrian lane, thoughtfully conceived homes include an array of open-concept flat and multi-level layouts. All of the development’s indoor and outdoor amenity spaces are Wi-Fi enabled: the lobby, fitness center, business center, garden courtyard and expansive rooftop terrace with multiple firepits and barbecue areas. See a sampling of inventory.

88 AT THE PARK | Potrero Hill

Designed by BAR Architects to fuse Potrero Hill’s designer vibes and the city’s forward-thinking green sensibilities, 88 at the Park is an inspired mid-rise condominium development. Entering through a hotel-style lobby, residents find modern homes outfitted with eco-friendly technology including high-end energy efficient appliances/HVAC and solar hot water pre-heating systems. Living is easy with RFID smart locks, CAT 6 wiring, Fiber Optic internet and Satellite TV. See a sampling of inventory.

950 TENNESSEE | Dogpatch

Blending the industrial heritage of Dogpatch with a modern aesthetic, a sleek and timeless design takes shape at 950 Tennessee. From the center courtyard to the notable rooftop lounge and the Danish-inspired residences between, minimalism and warmth prevail. A short distance from Esprit Park and the neighborhood’s varied cafes and restaurants, the location also offers close proximity to Caltrain and MUNI, and easy highway access. See a sampling of inventory.

MAISON À SOMA | South of Market

Rising six stories in central South of Market, the faceted monolithic facade of Maison à SOMA makes a bold and modern statement which rivals only the design of the residences within. This boutique community of 40 homes includes a mix of layouts including flats, townhomes and penthouses with dramatic city views. At the building’s rear, an historic 1920s masonry structure fronting Langton Street is reimagined as an intimate brick-paved courtyard complete with barbecue area and lounge seating beneath a steel beam arbor. See the last remaining residence for sale.

198 VALENCIA | Mission Dolores

The gateway to San Francisco’s colorful Valencia Corridor and so much more, 198 Valencia is well-positioned within the Mission District for urbaneers on the go. Proximity to Hayes Valley, Duboce Triangle and Mid-Market places some of the city’s best local picks — award-winning restaurants, entertainment venues, parks and art-filled alleys — just minutes away. Amenities include a secure lobby, garage with parking and bicycle storage, and rooftop lounge. See a sampling of inventory.

198 Valencia is marketed and listed exclusively by cooperating broker JS Sullivan Sales & Marketing, Inc. Listing photos above courtesy of SFAR MLS.

Live chat with us to get real-time data and a qualitative take on the market. Our agents are embedded in the real estate landscape, identifying unique opportunities and making deals happen — we know what’s good!

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