condos

During your escrow process, you will be asked by your agent, lender and/or escrow officer how you plan to hold title.  There are several options for California residents.  Before you choose, it is best to confer with your expert advisors, including your attorney and accountant.  How you hold title can have significant implications on your estate (if your property transfers upon your death) and on your taxes.  
The common ways of holding title for co-owners includes (but is not limited...

Recent market activity in Telegraph Hill shows signs that the market for condos is showing signs of recovery.  Although the market for condos in some of San Francisco's finest neighborhoods (including Russian Hill, North Beach, North Waterfront and Telegraph Hill) is down 16% in the last few years, it appears that the gap between supply (the number of condos listed for sale) and demand (the number of condos that close escrow) is narrowing.  What is happenning here?  Likely a number of...

Many involved with the SF Tenants Union and other tenants rights advocates have long been strong opponents of converting San Francisco housing units from rentals to anything else.  This includes 1. combining 2 units in a building, 2. converting rental units owned by one party and rented to many to units owned by many and owner occupied and 3. rental units converted to vacation rentals
I understand the objection to the third kind of conversion.  This takes housing from the market and makes...

 

I was awakened in the middle of the night to the SHRIEK of the smoke detectors in my house.  Jolted awake.  No sign of smoke or fire.  Headed downstairs quickly--no sign of anything there.  All detectors screaming downstairs.  And finally, down to my neighbors house below.  No noise, no signs of smoke or fire.  Just quiet.
I managed to shut the system by turning off all of the circuit breakers until I hit the correct combination that shut off all five alarms.  Relief.
My dog looked...

In the past week, several major banks have announced that they will stop the foreclosure process until they have more time to evaluate the process and be sure that there are no errors in their paper work.  Is this good news or bad news?  The answer of course is that it depends. 
If during this time, banks can work with homeowners to modify loans and this keeps people in their homes, then it is probably good news. Owners get to stay in their homes, and be happy (ok, the banks can't control...

 

Market activity for condos in North Beach continues at a steady pace.  In the past month, three new condos have been placed on the market, and two that were previously available have been spoken for (one has sold, while the other owner has accepted an offer from a buyer and is waiting to close escrow).  Three homes that were on the market are still available, and two of the three have had minor price adjustments.  The punch line continues to be: a property that is properly prepared for...

During the last 6 months, six condos have sold in North Beach, for an average price of $805,000.  The average days on market is 42 (a statistic that includes the marketing period, and the number of days this property was in contract before the buyer lifts their inspection and financing contingencies).

By comparison, there are four condos currently for sale, with an average days on market figure of 92 days for homes, which are on average, much smaller.  What is going on here?  Is the...

 
 

 
Two new condos are active in North Beach.  The first, 444 Francisco, #201 is a 1 bedroom condo, weighing in at just over 600 sq feet (611 per tax records).  Its marketing touts that it is a sunny, south facing unit—which in this building means that it faces the street.  This block of Francisco Street is very quiet and lovely.  This is also one of the nicest condos I have seen in this building.  It’s a good value in a great neighborhood.  The second new condo is 445 Francisco St,...

This morning, I was touring Zephyr's new listings.  I was driving to see a great condo in a great location close to cafes, restaurants and shops.  Easy access to the freeway, close to many different forms of public transportation.  Hmm, nice block with a nice mix of architectural styles represented. As I spied the facade, I noticed peeling paint. A lot of it. I had a moment's hesitation. The same hesitation that I suspect that many buyers are likely to have.

I went into the condo. It's a...

I was surprised driving by the new condos being built on the corner of Mission and Cesar Chavez.  The construction of these condos seems to be progressing quickly after a lot of controversy about the use of this site.  Neighborhood housing activists were trying to force the city to build affordable housing on this site.  The developer, who had already purchased the lot, just wanted approval from the city to develop the site. (History on the controversy at SocketSite and BeyondChron.)

The...

The San Francisco Board of Supervisors voted yesterday in favor of legislation designed to protect tenants from being evicted in case a property owner loses the property through foreclosure.  The intent makes sense--why should a tenant face huge disruption to their lives because of the mis-fortune of their landlord?  Unfortunately, the design of this legislation, in effect, creates an extension to the housing units that will be included in San Francisco's stringent rent control ordinance....

Gracious Living in San Francisco
2 bedrooms, 2 Baths Formal Dining Room Living Room Office Sun Room Private Deck and Garden Storage Room Year Built 1919, 1826 Sq Ft (per tax records, not measured or verified by Seller or Agents)
$989,000

This magnificent home is graced with large, elegant spaces and lovely period details.  Located in the rear of the building, this condo also has a private deck and garden.  The living spaces include an over-sized living room, a formal dining room and a sunroom with hardwood floors, picture mouldings and beautiful windows.  The updated eat-in-kitchen has extra cabinets and a laundry closet.  The master bedroom has a large walk in closet (and two more closets!).  A second bedroom and two baths complete the main living level.  On the lower level is a large office and an enormous storage area.  Located on stately Commonwealth Ave., this condo is convenient to restaurants, shops and public transportation.  Location, elegance, grace, and privacy (and amazing storage) are just a few of the reasons you will delight in living here.  HOA dues are $576/month.

Sold
$960,000

There are some extraordinary condos on the market in Telegraph Hill.  1360 Montgomery is an absolute gem, Built in 1936, it is a fabulous Art Deco period piece with stunning views.  You feel like you are in a movie.  In fact, this building was the setting for Dark Passages starring Lauren Bacall and Humprhey Bogart.  An amazing one bedroom condo, listed for $1.5 million.  The Penthouse at 567 Vallejo Street is still available, along with at least one other unit in the building.  This 3...

Well priced condos in North Beach continue to sell when they are properly presented to the market.  This month, two new homes that were on the market went into contract:690 Chestnut #204, a 2 bedroom, 2 bath home and 600 Chestnut #306, also a 2 bedroom, 2 bath home.  Both were well priced homes, listed at $699,000 and $739,000 respectively.  The condo at 600 Chestnut last sold in June 02 for $555,000.  Even if the selling price is below asking, it is at a healthy increase over 2002...

We've been blanketed in fog for several weeks now, and memories of summer are long forgotten.  I always enjoy Tuesdays--for Brokers Tour and seeing lots of great properties and for the wonderful opportunity to drive around the city during tour.  This morning in Telegraph Hill and North Beach it was foggy!  As I moved around the city, I hit some patches of sunshine and warmth.  I realize that this is a good metaphor for the current real estate market.  It feels like we have patches of...

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