The MAIN HOUSE was completed in 2008 with approximately 3300 sq ft with 4 bedrooms, 4.5 baths and 3+ car garage parking. This detached home is light, bright, and luxurious. Master Suite has walk in closet, Jacuzzi tub and separate shower, and outdoor deck area with views. Downstairs, a custom Chef’s kitchen/family room combination opens to a large formal dining room. Coffered 9 ft ceilings and large double pane windows marble, granite, and mahogany hardwood floors surround elegant living areas throughout. Extra wide lot (35′ wide X 95′ deep).
The CABANA House: The LEGAL detached COTTAGE (approximately 1000 square ft) with 2 bedrooms, 2 bathrooms including a full kitchen with breakfast area, wine refrigerator, family room with fireplace, and den area. Opens directly to the outdoor patio area. The cottage was rebuilt from within the footprint of the original structure. Great for entertaining and house guests or can be used as an income producing legal rental unit. A separate entrance and separate meters allows for the maximum privacy and access to the cottage from the street.

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1. 1350 5th Ave., San Francisco

First time on market since 1953! Grand old 1910 Edwardian. Approx 2204 square feet of living space with beautiful hardwood and softwood floors, PERIOD DETAILS, and 4 large bedrooms upstairs, living room with fireplace, large formal dining room, and den area off kitchen. Potential to expand or add extra bath. Nice yard & patio area. Large 2 car garage. Close to UCSF Medical Center, UCSF, N-Judah, Golden Gate Park & Ninth Ave corridor with shops and restaurants. Walk score is 94/100=WALKER’S PARADISE!

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1. 1240-1244 5th Ave., San Francisco

If you didn’t have a chance to go to this years KFOG KABOOM! fireworks event – here it is.  ENJOY!   The songs these fireworks are set to are the following:
Superman Theme Song – John Williams
It’s the End of the World as We Know It – R.E.M.
Revolution – Beatles
Say Hey (I Love You) – Michael Franti
Human – Killers
Flirting With Disaster – Molly Hatchet
Respect – Aretha Franklin
C’mon Get Higher – Matt Nathanson
Big Balls – AC/DC
I Wanna Be Sedated – Ramones
Eve Of Destruction – D.O.A
Let’s Go Crazy – Prince

You should watch it in Full Screen mode to get the full effect.

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Click here to view the embedded video.

The FORMAL APPEAL PROCESS FORM: The next open filing period for the City and County of San Francisco will be July 2, 2009 to September 15, 2009 to file a formal appeal for the 2009/2010 assessed value of your property. To timely file a formal property appeal for the 2009/2010 tax year, a completed Application for Changed Assessment form must be submitted or postmarked to the Assessment Appeals Board no later than September 15, 2009, regardless of whether or not you have requested an Informal Review of your property through the Assessor’s office. This is a simple one page form and can save you thousands of dollars if you are successful with your property tax appeal. For more information or to obtain comparable sales, please contact me and I will provide you this information at no charge.

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Short video on upside and downside of buying Bank foreclosures.

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Market Downswings offer Buying Opportunities. Short Term Sellers take the HIT!
We are all challenged with the market undulations. At times, it feels like we are on a rollercoaster ride and we are helpless to do anything but HANG ON. But for many long term homeowners, the paper loses on the market fluctuations will have little or no effect.
And here is why:
Real Estate always follows trends and market cycles. Market corrections are inevitable. We have been on an upswing market trend in San Francisco since 1999. The good news is that after the market corrects itself, the 50 year market performance statistics reveal that the market eventually recovers and, in time, the prices go even higher than the last high.
FOR FIRST TIME BUYERS: The reduced prices in the market allows for many FIRST TIME BUYERS to afford home ownership. There is also a $8000 first time buyer credit available for those that qualify.
FOR SELLERS: For sellers trading up, what you lose based on past higher values on the sale of your home, you will pick up on the now lower values if you purchase of another home.
SHORT TERM SELLERS take the hit: The people who get hurt in market swings are the short term buyers and sellers. If you are a recent home purchaser and if you are forced to sell because of financial needs, a job transfer to another area and you do NOT replace this property with another property in the area, then you may suffer financially from the downturn.
Some of you remember, as I do, the real estate market in 1980 when interest rates peaked over 18% interest on FHA 30 year Loans. There was recession, and then there was recovery. Then there was the up market swing in the 1980s with yet another correction. In the 1990’s we had the DOT COM boom and then another correction.
The TRUTH about real estate markets is this:
There is ALWAYS a market…good or bad.
There are ALWAYS buyers and sellers.
Any given market is determined by an offer from a willing buyer and acceptance from a willing seller.
Buying opportunities occur when there is less competition and increased inventory.
And such is our present market.

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There is an old saying that “too many cooks ruin the stew” and such is often the case with short sales. The problem is there are too many people involved with self-serving interests and trying to hold the deal together can be challenging. Short sales are a moving target and the buyers and sellers can be left hanging out to dry with nothing to show for their efforts but frustration and wasted time, not to mention money spent on appraisals, inspections, and other reports. Statistics show that only about 30 -35% of short sale offers are accepted and only about 10% to 15% of short sale offers actually come to fruition. With changing market conditions and the time delays, buyers may be better off purchasing property on the open market. In years past, many lenders have been receptive to short sales.  But my experience last year (2008) was that most lenders were so buried with short sale requests (mostly in other counties) that they did not even respond to short sale offers in San Francisco. The lenders chose to take distress property into inventory through the foreclosure process, vacate the premises (absent the homeowner or tenant), then list and sell the property to the highest bidder on the open market.

However, all this being said, the process has now been streamlined to make short sale offers easier to accomplish. Some of the big players, Bank of America and Wells Fargo have announced new cooperative programs to help expedite the SHORT SALE process. BofA has increased staffing, updated training and created a dedicated short sale call center at (866) 880-1232. Of course, MONEY is always an incentive. On May 14, the Treasury Department announced a PLAN to “provide incentives for servicers and borrowers to pursue short sales.” Treasury will pay a servicer $1,000 for completing a successful short sale, it will pay the borrower $1,500 to assist with relocation expenses, and it will pay second-lien holders who release their claims up to $1,000. Lenders are now giving the short sale process a second look as a less costly means to rid excess inventory and many sellers are finding a quicker and potentially less self-destructive way to get out from under over-encumbered property.

On February 18, the Obama Administration announced the Making Home Affordable (MHA) Program, a comprehensive plan to stabilize the U.S. housing market. As promised, two weeks later on March 4, the Administration published detailed program guidelines.

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Click here to view the embedded video.

It may also be prudent to start the formal appeal process as well as filing the quick online  property tax appeal forms on the links listed below.

Here are the direct internet links to the San Francisco Assessor’s Office for property tax appeals of  SINGLE FAMILY HOMES and CONDOS or for TIC units ONLY.

Questions and more options about the propery tax appeals process:

Do I have any recourse if I disagree with the valuation placed on my property by the Assessor?

Yes. If you disagree with the assessed value of your property you may contact the Office of the Assessor/Recorder at (415) 554-5596. They can provide you with information on how the value was established.

If you still disagree with the assessed value of your property after reviewing it with the Office of the Assessor/Recorder, you may contact the Assessment Appeals Board for the purpose of appealing your assessment.

If you choose to appeal your assessment, you must still pay your property tax in full by the appropriate deadlines; otherwise, you will incur penalties while the case is on appeal. If your appeal is granted, a refund will be issued to you.

Appeal applications and further information about the appeal process can be obtained by contacting the Assessment Appeals Board. Please call if you have any questions. I can also provide you with recent sales to support value changes in your area.

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1. San Francisco Appeals (Process & Dates)
2. Lower your property taxes??
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