Archive for the ‘Real Estate’ Category
Tenancy In Common Dispute Resolution
“Over the past 20 years, residential Tenancies In Common (TICs) established themselves as an affordable pathway to home ownership in an otherwise unaffordable San Francisco marketplace. TIC ownership offered a solution to the City’s vexing condominium conversion rules, which allow for easy and affordable conversions, but require a waiting period before conversion can begin. As [...]
Continue Reading...Mayor Gavin Newsom 2010 Budget Includes New Condo Conversion Fees – A Brilliant Idea Whose Time Has Come
Kudos to Mayor Gavin Newsom for submitting a balanced budget to the San Francisco Supervisors today!
The $6.48 billion budget proposal will close the City’s budget deficit. One of the Mayor’s most brilliant plans is to allow owners of TIC’s (Tenancies in Common) to convert their properties to Condominiums and pay a fee for it. This proposal is a win/win for the city and for property owners and it deserves our support. The City will generate extra fee revenue from TIC owners who want to convert to Condo. The TIC owners will realize appreciation in value as they complete the conversion to Condo status, which is more valuable.
Under the existing rules, there is an annual lottery that TIC owners must submit to. This lottery limits the number of TIC-to-Condo conversion winners to only 200. According to SocketSite.com, there were over 2000 applicants for those 200 slots in the January 2010 lottery. With those odds and a number of other property-unfriendly rules imposed by the San Francisco Board of Supervisors, a TIC owner must wait for many years to convert to condo.
Remember to tell your Supervisor that you support the Mayor’s proposal to accelerate the conversion of TIC’s to Condo!
Master Mind at the Four Seasons
Once a month, I meet with a Master Mind group of top agents who work in the Bay Area. We exchange creative ideas, discuss successes and challenges and share referrals. Yesterday we met at the Four Seasons Residences at 765 Market Street #22F, a stunning 3 bedroom, 3 bath prime corner unit. This unit is listed with Esty Lawrie with Diana Nelson & Associates and the list price is $4,395,000.
The Artisan Group Luxury Listings
The Artisan Group is a strategic alliance of locally-owned, high image real estate companies who have joined forces to create a greater level of service for our clients. We offer individualized local service through an expanded network of professional, meticulously managed real estate brokerages. Our dedication to building relationships in the local and extended communities is a time-proven asset to our clients. Through our alliances, we are able to provide top-quality service in an expanded market area.
No matter where you decide to buy or sell, we connect you with an agent from a company that offers you the personalized service you expect. The Artisan Group agents know the neighborhoods, schools, shopping, zoning, and commuting conditions that are relevant to buying a home in any community of the greater San Francisco Bay Area and Lake Tahoe region.
Here are a few of the Luxury Listings with the Artisan Group:
Paragon Real Estate // San Francisco
336 17th Avenue, San Francisco (Central Richmond)
$1,749,000
http://www.paragon-re.com/ParagonListingDetail.aspx?ID=2911
2777 Pine Street, San Francisco (Lower Pacific Heights)
$1,850,000
http://www.paragon-re.com/ParagonListingDetail.aspx?ID=2924
$18,000 in Combined Homebuyer Tax Credits for a Limited Time
From CAR: “On Monday, the legislature passed AB 183 (Caballero & Ashburn) which would provide $200 million for homebuyer tax credits. The Governor is expected to sign AB 183 into law before the end of the week. C.A.R. supported this important legislation.
AB 183, formerly SB 4 of the sixth extraordinary session (Ashburn), is part of a package of four bills, passed at the request of the Governor, designed to help stimulate the economy and create jobs. The bill allocates $100 million for qualified first time home buyers of existing homes and $100 million for purchasers of new, or previously unoccupied, homes. The eligible taxpayer who closes escrow on a qualified principal residence between May 1, 2010 and December, 31, 2010, or who closes escrow on a qualified principal residence on and after December 31, 2010 and before August 1, 2011, pursuant to an enforceable contract executed on or before December 31, 2010, will be able to take the allowed tax credit. This credit is equal to the lesser of 5% of the purchase price or $10,000, taken in equal installments over three consecutive years. Under AB 183 purchasers will be required to live in the home as their principal residence for at least two years or forfeit the credit (i.e. repay it to the state).”
The Chronicle reported that the Governor had already signed the bill. Continue reading for more information and clarification from CAR & SFAR.
Investment Opportunities: Three Properties to Watch
Seeing 25-30 properties per week, as I do, gives me the opportunity to spot great values. Especially In the current market, I’m always looking for outstanding properties for my clients. What makes a home outstanding? The essential elements include light, location and style, either in realized or potential form. Here are three properties that have recently caught my eye.
Bernal Heights: 251 Bonview is a 2 bedroom, 1 bath single family home listed at $568,000. Just a short walk from the charming Cortland Street shopping district, this home is a “fixer upper” in need of your creative imagination. Tax records say this barrel-front home was built in 1930 and comprises 1200 square feet of interior space.
Sell with Confidence, Hire a Realtor®
Saving on broker commissions is the most common reason that FSBOs, “For Sale by Owners”, give for attempting to sell their home without using a real estate broker.
So why have the number of FSBOs declined in the last 18-24 months? Clearly, selling a home or condominium has become much more difficult since the market downturn. It used to be that some sellers could put up a For Sale sign, post a craigslist ad, host an open house and wait for offers to come in. Those days are gone.
There are several reasons to explain why it pays to consult a Realtor when you’re selling your home:
Continue Reading…
Condo Report: Nob Hill, Marina, Presidio Heights Condos for around $1.8 million
It’s always fun and informative to see what you will get for the same amount of money in different San Francisco neighborhoods. If you can spend around $1.8 million for a San Francisco condominium, here are three selections in Nob Hill, Marina and Presidio.
Nob Hill: 1045 Mason #302 is a 2 bedroom, 2.5 bath condo listed at $1,795,000. This place is DONE, DONE, DONE. The owner reportedly spent over $400,000 in the renovation of this half floor flat in an exclusive 9-unit building, built in 1993. Approximate square footage: 1,960 square feet. HOA dues: $981.26 per month. If this unit sells for anywhere near the asking price, it will be a record price for the building. Currently the highest sale in this building is unit #301, which sold for $1,460,000 in May 2008.
Today Show 3/16 – Barbara Corcoran: SF is #1 for Housing Recovery
After 5 years…
In 2009, its 5th year in business, Paragon…
- #3 in unit sales
- #4 in dollar volume sales
- Lowest in Days on Market as Listing Agent (of top 10 brokerages)
- Highest Sales Price to original List Price percentage as Listing Agent (of top 10)
- Average home sales price: $929,000
MyHomeinSF.com
John Solaegui
You Can Count on Me
DRE# 1398160
415.999.0673
John Solaegui | 415.999.0673 | John@MyHomeinSF.com | DRE #01398160
Paragon Real Estate Group | 1400 Van Ness Avenue, San Francisco, CA 94109
©2010 MyHomeinSF.com
