Danielle Lazier

Archive for the 'Home Selling' Category

Hupt two three four…Can Your Walk Score Increase Your Property Value?

What is a walk score?   Washington Post wrote, ”Walkscore.com ranks communities nationwide (and soon, globally) based on how many businesses, parks, theaters, schools and other common destinations are within walking distance of any given starting point.”

Being in San Francisco most properties have a high walk score.  We have been showing our listing’s own walk score as a marketing point.  It almost seems obvious that a higher walk score can add value to your property.  Wall Street Journal just wrote an article about this.  Check it out and look to the right to find your neighborhood’s own walk score.

The Economist says the worst of America’s real estate downturn is over and you’ve been thinking of selling your San Francisco home, what to do now?

January 2nd’s The Economist notes,

“House prices are still far above their fair value in many countries – though no longer in America.”

Of course, the article does warn that “a further downward leg is possible since past housing busts have pushed priced below their fair value…” but those of us in the San Francisco real estate market have seen time and again that SF is the last to go down and the first to go up (or, at least, amongst the last and first.)

So what if you own a home in, say, Bernal Heights or Mission Dolores and you’ve been thinking of selling your home for a little while now?

You’ve been waiting for some signs of market stabilization but are growing anxious because you really could use some more space. Or, perhaps, you want to move out of San Francisco to new pastures. Well, most agree that the worst is probably over  yet no one I’ve heard of expects home prices to appreciate anytime soon. If you’re waiting for your value to go back to where it was in 2005, you may be waiting a long time.

The truth is that no one rings a bell when the downturn is over. We must look for subtle clues and take a leap of faith. Complex real estate markets like ours today offer superb opportunities for those wanting to sell their current home and buy another one. It’s “against the herd” thinking but it’s tried and true.

For example, say home prices are down 20% off the peak in Bernal Heights or another SF neighborhood.

If you’re home was worth $900,000 at the peak of the market, it’s now worth $720,000. This is a loss of $180,000 BUT the home you want to buy in Noe Valley was worth $1,400,000 at the peak. This same house is now worth $1,120,000 which is a decline of $280,000.

Essentially, if you sell your home and upgrade in a down market, you’ll SAVE money. In this example, it is $100,000 in savings. Plus, you’ll be leveraging yourself into a nicer home that has more potential to appreciate in the future. Add in today’s interest rates and the improved quality of life you’ll have for your family and this starts to look pretty good, right? (It goes without saying that this scenario will not work for everyone. You’ll need to have stable employment and equity to qualify for the home purchase.)

If you want to move out of San Francisco, you’ll probably be in even better shape. The San Francisco market has declined much less than most of the country. Last year, I helped clients sell their Bernal Heights listing and relocate to Merced where the market has declined much more than here in the Bay Area. When you look at both sides of the transaction, they did very well.

Alright, enough already. I do want to sell my San Francisco house in Bernal Heights or Mission Dolores or maybe even Inner Sunset this year and buy a new one in another neighborhood. If I want to sell a home and buy another one, what should I do now to prepare?

Glad you asked! You should read this post about the time line of buying and selling a home.

I want to sell my current San Francisco home and buy another one either here in SF or in another area. How does this work? Is there a way to time it so I am not “in-between” homes? How do I know how much I can afford in my next home?

Question: I want to sell my current San Francisco home and buy another one either here in SF or in another area. How does this work? What is a good time line for buying and selling? Is there a way to time it so I am not “in-between” homes? How do I know how much I can afford in my next home?

Answer: Whether you want to sell your home right away or just sometime in the next year, there are some simple things which, when done ahead of time, will increase your chances of getting the highest return on your investment.

Here are the 5 main steps involved in selling a home and buying a new one.

Read the rest of this entry »

Tags: buy and sell a home, time line of buying and selling

San Francisco Home Listings & Real Estate Market Data: Are we our neighbors?

San Francisco Home Listings: Are we our neighbors?

Last Sunday, the Chronicle printed an article about a slowdown in the luxury market. As usual, San Francisco real estate listings were lumped into the broader Bay Area market. Given that I’m a big believer in all real estate is local (but you gotta understand global to interpret), I was curious to see how the market dynamics would compare between the published Bay Area statistics and just San Francisco City and County.

Let’s find out!

Read the rest of this entry »

Tags: 2008 vs. 2009 real estate, Luxury Real Estate Market, The SF Chronicle

San Francisco Real Estate Market Rebound

As stated by Hank Plante with cbs5.com, “More home sales in the last two weeks then in previous six months.”  If a property is priced right it will generate offers…42 for one Seller. 

Click here to learn more with a cbs5’s video report.

And read any/all comments posted regarding this report at FrontSteps.com

 

 

Tags: CBS5.com, Hank Plante, real estate rebound, video real estate report

Yeah, it’s a great time to buy but is it a great time to buy…for YOU?

Yes, friends, that is the real question.

I don’t  have to tell you that right now is an uber-fantastic, once in a generation real estate buying opportunity because you already know that!

The combination of LOW mortgage rates and declining prices makes a perfect storm for first time buyers and “trade-up” buyers (those who have owned their starter homes for 5+ years and are ready to move up the food chain). Yeah, you’re tuned in. You know this part.

What you may not know is that just because it’s a great time to buy, in general, does NOT mean it’s a great time to buy for you.

Experience has shown time and time again that owning real estate, especially in desirable cities like San Francisco, will be a smart move in the long-run….regardless of WHEN you buy.

Yup, even us crazies (myself included) who bought in the “Go-Go 2000s” will make a great ROI after living in our homes for a few years. Plus, we get the many “joys” of home ownership and the many tax benefits in the meantime.

In any type of market, folks are buying and selling real estate. Some are making money and some are not. This is true in a buyer’s market, a seller’s market or anything in between.

Whether or not it is a good time to buy or sell real estate depends on your individual and very specific situation.

Where are you financially, emotionally, psychologically? What is going on in your life? Where are you headed? Is your job stable? Are you moving out of town? Do you want to live here comfortably for at least the next 5 years? Are you getting hitched? Having a baby? Have you out-grown your home? Is it too big or too small? And on and on.

Let me tell you a story.

Okay, so I answer questions on Trulia from time to time. If you’re looking at my blog page, see the feed to your right. While you’re at it, follow me on Twitter!

Recently, a couple asked a question on Trulia about their situation. They owned a house in District 10 and were wondering if they could sell that house and buy a another home in Bernal Heights or Glen Park.

Guess what? Most of the agents answered that the real estate market in District 10 is too tough. Don’t sell. It’s a terrible time. You gotta wait it out. Etc etc.

These agents gave their “knee-jerk” reactions to the market and to the idea of selling a home in District 10. They didn’t ask these folks any questions! They just told them what to do!

My approach was to offer a few scenarios of when it works to trade-up in this market while also including some cautionary tales. But, mostly, what I suggested is that we talk “off-line” about THEIR particular situation.

In reality, these folks had owned their home for 10 years. Even in today’s market, it had pretty much doubled in value. They had also saved money on the side. They were ready to “move on up”: financially, emotionally and logistically.

Guess what? They bought a gorgeous new home at a discount and sold their old home quickly and for a pretty darn good tax-free profit. They’re psyched.

The moral of the story: Figure out what makes the most sense for you on an individual basis. It may be the right time to buy. It may not. For that matter, it may be the right time to sell. It may not.

Make sense?

Tags: great time to buy, San Francisco Real Estate, trading up

Follow SFHotlist on Twitter

Follow us on Twitter and get even more info on SF real estate!

C’mon, it’ll be fun. I may even throw in random real estate agent embarrassing tidbits to keep it interesting.

For example, did you know that Zephyr agents attended an etiquette class last Friday? Well, they called it “Image Consulting” but it felt a lot like the etiquette I learned at my snotty all-girls prep school in Dallas!

Sign up now!

http://twitter.com/SFHOTLIST

or look to your right and down.

Tags: SFHotlist, twitter

San Francisco Real Estate in 2009: Signs, Signs, Everywhere Signs

“Signs, signs, everywhere there’s signs…”

So, what are the signs we should look for to help us forecast San Francisco real estate?

I’m gonna “KISS” 2008 good-bye with 4 “Keep It Simple, Stupid” topics to keep an eye on.

The 4 Pillars of 2009 San Francisco Real Estate Forecasting

1. Foreclosures, Short Sales, Bank-Owned Properties (REOs): Loan modification programs
2. Ease of Credit: Jumbo Loan Options and Availability
3. Interest Rates
4. General climate: What’s the “feeling” on the street, at your local cafe, at the table next to you at Beretta?

Read the rest of this entry »

Tags: 2009 forecast, 4 pillars, signs of the market

2008 was gr8 but 2009 will shine.

( The following is a reprint of the annual holiday letter I wrote for my clients, friends and real estate associates. A few of you suggested that I publish it on the blog so at the risk of going a little personal, here goes! I hope you find it helpful as we move forward into a healthy, happy and prosperous 2009…. )

Dear SFHotlist reader and San Francisco real estate devotee,

Every year, I write a holiday letter. And, as is my way, it is usually geared more towards the New Year and its hope of renewal, growth and change than any particular religious holiday.

This year, the letter is difficult to write, and I have procrastinated for weeks. After such a tumultuous & challenging 2008, what can I say that will be sincere, forthright, and dare I say even helpful?

Maybe I should begin with an honest assessment? My job is tougher. I work harder yet earn less money. The transactions are more complex. The sellers, buyers, agents, lenders, and everyone else are stressed.

In 2 escrows, the lender closed shop days before the closing. The competition is fierce. Desperate agents on the edge of leaving real estate are willing to do anything for a listing and are often scared to tell their sellers the truth, thus clogging up the market with overpriced properties.

(This is bad for all of us and will slow our market’s recovery. Check my blog for more info.)

I have lost money in my retirement and savings account. The value of my house is less than what I paid for it two ½ years ago. (Of course, as a SF Realtor I must point out that my stocks lost WAY more value than my house.)

Sound familiar? I know I am not alone. Most of us have faced similar challenges this year. Who has been immune to the economic meltdown? It has been broad, swift and in many ways, unimaginable in its breadth & depth even to the smartest of experts.

Yet, I remain both optimistic and grateful.  It will get better. The economy will recover. The real estate market will turnaround and prices will head back up.

(No, it probably won’t be the rabid growth of the 2000s but in San Francisco, we will see consistent appreciation, and real estate will prove, yet again, to be a wise investment.)

Buyers and sellers will get used to our more balanced playing field and work together towards mutually beneficial results.

In the face of all of these challenges, I had a very good year in real estate. (Toot, toot! Yours truly is a Zephyr “Top Producer” once more. By hook or by crook, I tell ya!)

I have helped folks successfully achieve their goals and navigated them through today’s choppy waters.

To name a few, I’ve helped first time buyers who see their golden opportunity, past clients ready to benefit from a property “trade-up”,  investors who know that it is the right time to buy & hold, sellers who have owned their homes for 5+ years and are ready to move on with a very healthy profit and families who need to sell a loved one’s home.

Some of you may be wondering what to do. Is it time to “trade-up”? Is it time to invest in real estate? It is time to “down-size”? Is it time to talk to your lender about loan modification because your situation has changed?

My pledge is to consult with you to come up with the best plan of action for you.

I will negotiate fiercely on your behalf, and oversee the transactional details so your money, time and energy are used efficiently to achieve your goals. Real estate is my profession, and I am in it for the long-haul.

Most of my clients find me through your word of mouth, and I am extremely grateful.

Please know that I continue to improve, educate, and grow. I bring my “A-game” and that game gets better every year so I can always be the best possible real estate consultant for you and for all those you introduce to me.

As 2008 draws to a close, let us dream of a fantastic 2009 full of health, recovery, happiness and prosperity for all. Happy holidays and yes, happy new year!

Your real estate consultant for life,
Danielle

P.S. I’d love to hear from you! Do you have questions about your situation or just want to know what’s really going on? I am here to help in any and every way I can. Talk to you soon!

Tags: 2008 holiday letter

Zephyr Head Honcho Makes the Cover!

Well, it’s not particularly great news but it’s pretty fair and accurate considering how not so long ago the lovely Chron real estate folks seemed to only like to trash us agents. In the slowdown, have they decided to stop biting the hand that feeds them? Yet, I regress.

I don’t have time right now to pontificate (yes, you are so sad) because I’m on my way to a signing, aka closing appointment. Yes, folks are buying homes in San Francisco. In this case, they’re buying a great single family in Bernal Heights.

It’s a good read and our very own, Bill D. is a featured contributor. Check it out here.

The moral of the story: it’s a great time to buy if 1. you are a first time buyer 2. you’ve owned your home for a few years and are ready to trade-up or 3. you want an investment property to hold.

As for sellers…It’s not the best time to sell but it’s not the worst either. Many people are successfully selling homes in today’s market.  In particular, it’s an okay time IF you’ve owned your home for a few years, are willing to price for today’s market values, and/or selling is the right thing to do for YOUR overall life and financial picture.

Moral #2. No one can time the market perfectly. Do what’s in your best interest for now and for later. We are blessed to live and own real estate in San Francisco. Compare our downturn to outside the City.

Okay, Pollyanna’s off to meet her clients!

Tags: bill drypolcher, home buying, Home Selling, real estate meltdown, sf real estate market