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Federal Home Buyer Tax Credit Extended and Improved! Will More SF Buyers Qualify?

daniellelazier — Sat, 07 Nov 2009 16:08:12 +0000

The Federal Home Buyer Tax Credit has been extended and improved. This may mean that more San Francisco home buyers will qualify which is good news for both buyers and sellers.

Many clients have asked me what sort of impact the tax credit has had on our local SF real estate market. Given the income caps, I would have to say not too much of one. But now, this should be improved a little… I stress, a little, because the limitations continue to make the tax credit irrelevant for a large part of our market. For example, the limitation on the cost of a home is $800,000.

What are the major changes?

The timeline has been extended. You must go into contract on your home purchase before April 30, 2010 and close escrow by July 1, 2010.
Current homeowners now qualify. This is to help assist the “move-up” market. My readers know how great a time I believe it is to “trade-up” from your starter home into something more long-term (assuming you have relative job security and equity). (”Move-up” home buyers must have used their property as their “principal residence” for 5 out of the past 8 years.)
Income brackets to qualify have increased. Now, up to $125,000 for a single person and $225,000 for a married couple.
Purchase price limited to $800,000 or less.

For a complete chart of the home buyer tax credit both old and new, click here.

What is new in the Inner Sunset?

Cici — Thu, 05 Nov 2009 20:34:44 +0000

Here is this week’s real estate report for the Inner Sunset in San Francisco, CA.

Number of active properties: 13
Average list price: $983,079
Average days on market: 48
Number of sold: 7
Average sold price: $909,000

Any changes from the last post?

Want to know how much your Inner Sunset home is worth? Just send us a request.

Make sure to look back here to get acurate and up-to-date real estate news and activity.

What’s the deal with San Francisco Rent Control? Or I’m thinking of buying an investment property or renting out my home. What should I know?

daniellelazier — Tue, 03 Nov 2009 00:33:38 +0000

Recently, a client mentioned that they may relocate out of San Francisco and were considering keeping their home as rental property. She wanted to know, “What’s the deal with San Francisco rent control and what kinds of things should I know before becoming a landlord in our great ‘Republic of San Francisco’?”

To summarize: San Francisco has one of the most draconian rent control rule books in the United States. If you know of a City with stricter rent and eviction control rules, please let me know as I’m genuinely curious!

And because we’re San Francisco, the power lies with the tenant, not the property owner. Whether you own one little condo or an entire city block, the deck of cards is stacked against you in this town as a landlord. Don’t get me wrong, I adore our “San Francisco Values.” But sometimes, I think, “OMG, this is insane.” C’mon, don’t you? But then, I go back to Texas for a visit and remember just how much I appreciate it here in SF… And, hey, where are you going to find home value appreciation like ours (with or without the restrictions)?!

But, I digress. The real question from my client was how can I research the local rules and get some information so I can make an informed, good decision? Here you go!

San Francisco Landlord-Tenant, Rent Control, Eviction Control Information:

SF Rent Board
SF Tenants Union
Tenant Evictions in San Francisco
Prop H Info
Small Property Owners of San Francisco
Attorney Resources:
- Jeff Woo, MyPropertyRights.com
- G3MH.com, Attorneys & Great Resource Articles
- Daniel Bornstein, Attorney
- Brenda Cruz Keith, Attorney

Real Estate Update: Inner Mission – Single Family, Condos, Lofts and TIC’s

Cici — Mon, 02 Nov 2009 22:44:41 +0000

Here is this week’s Inner Mission real estate update.

Single-Family Homes

Number of Active Properties: 13
Average List Price: $845,295
Average Days on Market: 76
Number of Sold: 6
Average Sold Price: $593,917

Condo and TIC’s

Number of Active Properties: 38

Average List Price: $614,378

Average Days on Market: 57

Number of Sold: 17

Average Sold Price: $588,700

Loft Condos

Number of Active Properties: 5

Average List Price: $1,085,743

Average Days on Market: 74

Number of Sold: 0

Any changes from last week, take a look.

Want to know how much your Inner Mission home is worth? Just send us a request.

Make sure to check back here for updated reports monthly.

West Portal and Forest Hill Single-Family Home Listing and Sold in San Francisco

Cici — Tue, 27 Oct 2009 22:24:52 +0000

Here is this week’s report on single-family listing and sold properties in West Portal and Forest Hill in San Francisco, CA.

West Portal

Number of listings: 7
Average list price: $1,384,909
Average days on market: 55
Number of sold: 3
Average sold price: $1,321,000

Forest Hill

Number of listings: 6

Average list price: $1,516,571

Average days on market: 39

Number of sold: 0

Any changes from the last report. Take a look.

Want to know how much your property is worth? Send us a request.

And make sure to check back here for updated report bi-weekly.

Muttville Dog Adoption Fair at CitiPets – Sunday, October 18th – 11am-3pm – West Portal

daniellelazier — Sat, 17 Oct 2009 17:51:33 +0000

Muttville.org Senior Dog Rescue

Some of Muttville’s amazing pooches will be available for you to meet tomorrow, Sunday October 18th, 2009 from 11am-3pm. Consider fostering or adopting a senior dog. These dogs have a lot of spunk left in them and make fabulous companions! And you’ll feel so good about giving a dog the life he or she deserves.

View Larger Map

I’ve had my Muttvillle guy for almost a year now and am fostering another. And, no, you don’t need to foster or adopt a Pomeranian! Just because I’m obsessed with them doesn’t mean you need to be. There are big dogs, too.

Ain’t Nothing Short About a Short Sale: San Francisco Short Sale Real Estate

daniellelazier — Sat, 17 Oct 2009 17:33:18 +0000

http://www.nytimes.com/2009/06/07/realestate/07lizo.html

How do you know it’s the right time to buy a home?

daniellelazier — Fri, 16 Oct 2009 22:52:21 +0000

For San Francisco home buyers, how do you know it’s the right time to buy a home?

Real estate prices in San Francisco are down about 20% from the peak of the market (more or less depending on the neighborhood and type of property). We’ve been in the downturn for about 3 years already. There are genuine signs of life like increased transactions and the return of multiple offers. Many economists are now saying that now is most definitely the time to buy IF it’s the right time for you.

Like who? Kenneth Rosen, Chair of the Fisher Center for Real Estate and Urban Economics at UC Berkeley Haas School of Business for one!

He’s pretty esteemed and not even a Realtor, like me, whose job is to cheer-lead, right? Okay, I’m not really much a cheerleader. I was more the “alternative” type in high school. You know, smoking cigarettes, going to raves, wearing Doc Marten’s & Betsey Johnson, and generally, acting cooler than thou.

So, how do you know it’s the right time to buy?

Consider these questions: Do you like the home? Can you imagine living in it for about 5 or more years? Can you afford it? Do you feel relatively secure in your job and job prospects? If you answered yes, it is probably time. Now, hop to it!

But first, watch these neat videos! Start with “Recognizing the bottom.”

(Learn more about buying, selling and financing
real property. Click on the link to view video
features on contemporary real estate subjects.)

Tucked Away – Neighborhood Spotlight; St. Francis, West Portal

Cici — Fri, 16 Oct 2009 00:07:02 +0000

First American Title is helping us define each neighborhood in the city. As a first time homebuyer where do you want to live? Here is a brief overview into the “Tucked Away” areas in the city by the bay: St. Francis Wood and West Portal

St. Francis Wood

Quiet, residential, affluent and secluded, St. Francis Wood and West Portal are two of San Francisco’s lovely little secrets. Curving, tree-lined streets absent of overhead wires give the neighborhoods quaint, village-like appeal. The gates of the St. Francis Boulevard-Portola Drive entry and the fountain in the circular plaza on St. Francis Boulevard were designed by noted Beauz Arts era architect John Galen Howard. Many St Francis residents have chosen the location for its relative proximity to the private St. Ignatius College Prep. The neighborhood’s borders are defined by Monterey Boulevard, San Anselmo, Santa Paula and San Pablo Avenues, Portola Drive and Junipero Serra Boulevard.

West Portal offers smaller homes with neatly manicured lawns centered around a charming shopping district. The commercial zone sits in the front of the entrance to the Twin Peaks street-car tunnel. An interesting find in itself, the Goodwill Boutique is where the best of the booty collected from all of the city’s donations is presented for sale. A funky Mexican Toreador Fonda, is a great place for dinner before crossing the street to the Empire movie theatre for a flick. To find the neighborhood, follow Market Street west until it turns into Portola Drive and drops down the back side of Twin Peaks. Boundaries are 19^th Avenue, Taraval Street, Claremont Boulevard, Portola Drive and Sloat Boulevard. **Note: our office is located at 215 West Portal Ave. You can can catch us up and down the street having lunch or shopping in between clients. The Goodwill Store is the best (shoes and handbags never looked so good!) and Just Because just helped me make the cutest personalized bridal shower invitation

Bernal Heights Real Estate Listings and Solds Within the Last Month and a Fiesta!

Cici — Wed, 14 Oct 2009 19:19:22 +0000

Here is this week’s update on new real estate listings and sold properties in Bernal Heights in San Francisco, CA.

Number of Active Properties: 42
Average List Price: $769,706
Average Days on Market: 60
Number of Sold Properties: 14
Average Sold Price: $815,152

Remember the Bernal Heights Fiesta is this Sunday October 18th. This is always a great time to enjoy the neighborhood. Hope to see you there!

Want to know how much you Bernal Heights property is worth? Just send us a request.