sellers

"Working with Stacey and Jane was such an amazing gift during such a hectic time in our lives! My wife and I were transferred to the East Coast just after we got married. We were incredibly stressed with all that we needed to do to move our lives and our careers to a new City. ..." [read more]

Michael and Suzanne Haskell

We're often asked by our clients, "How much should we offer?"  This is an excellent question.  The answer is not straight-forward, especially in a market like ours. 
Pricing, in the late 1990s through the mid 2000s was a bit of a no-brainer.  Most agents advised their sellers to price homes very low, suggesting that this would draw multiple offers to the property.  In most cases this was true.  Depending upon the time frame, houses priced low would draw multiple offers and would sell not...

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...

Searching through my desk, I found a copy of an article entitled, Here are the Buyers, Where are the NICE Homes? Today's environment feels very similar to that of March 2007:  "I have several buyers wondering why there is no inventory that fits their criteria. They aren't being picky.  Many of them are able to afford what they are lookiing for in their desired neighborhoods in the city.  In fact, they are quite realistic.  The problem seems to be a real lack of inventory.  Every...

Last year, Congress enacted legislation called the Home Valuation Code of Contact designed to create distance between appraisers and lenders.  New companies emerged as intermediaries between lenders and appraisers, called Appraisal Management Companies.  The result? Higher costs to consumers (the appraisal is paid for by the Buyer), and often a reduction in quality (many AMCs put the appraisal orders out to bid, awarding the work to the lowest priced bidder and keeping the rest of the...


 
I have always had a difficult time understanding certain cycles in the San Francisco real estate market.  In many markets across the U.S. the market is strongest in the spring and summer as families who are moving want to get their kids settled in a new home or community before the start of a new school year.  Sellers put their homes on the market in anticipation of this need.  In snowy areas, I've heard many agents say that they prefer to start a marketing period after the snow and...

So, you are ready to list your home, and you have decided with your agent that you are better off moving out, painting and making minor repairs before putting your home on the market.  I learned of a great new service for people on the move Zippgo.  The company rents boxes and sells moving supplies to those who are moving.  The boxes are made from recycled plastic (from things like caps of soda bottles) and can be used up to 400 times.  At Zephyr, we have had an informal network of box...

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...

On Friday, I received an alert from the California Association of Realtors indicating that the revisions proposed to truth in lending laws, also known as Reg. Z will be going into effect on July 30th.  These rules have required that lenders disclose to buyers within a few days of application, the costs of their loans.  For homeowners who are engaged in refinancing their loan, they had a three day right of recision.

The new rules, which apply to both purchases and refinances, require that...

What a difference a year makes.  I am sitting with two reports next to my computer--the first, a snapshot of the North Beach Condo Market that I prepared last July.  The second, a report that I created this morning.  Both reports look at all condos currently on the market--the ones for sale and those in contract, as well as all condos that have sold in the past 6 months. 

In 2008, there were 8 condos for sale or in contract, with prices ranging from $699,000 for a 2 bedroom condo that...

It started last summer during the slump in summer line-up (real estate, that is, not TV).  I went on a series of listing appointments--to the homes of friends, clients, friends of clients and homeowners who found me through the internet.  The theme of these meetings were mostly the same.  The homeowners wanted to sell.  They were convinced that their homes were worth WAY more than current market value (even before the stock market slide), and they typically thought that repairs and...

Here is an article that Paula Siegel, a wrote, published in the For Buyers section.  It explains what happens from an escrow officer's point of view.  Of course, the Buyers will be conducting inspections and working with their lender or mortgage broker to obtain financing, too.  This article describes the escrow process

This entry was written by Paula Siegel, Escrow Officer with Fidelity National Title.  She can be reached at psiegel@fnf.com

You’ve done all the hard work – if you are the buyer, that means weekend drive bys, selecting a realtor and negotiating the financing. The sellers will also have selected a realtor, decided on the asking price and spent time preparing the property for sale. Suddenly your offer is accepted and you are in escrow! Congratulations! So what does that...

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