Danielle Lazier

SFHotList’s Real Estate Realities in the Inner Sunset

Here is SFHotList’s real estate realty for San Francisco in the Inner Sunset neighborhood.

• Number of active properties: 9
• Average list price: $953,400
• Average days on market: 51
• Number of sold properties: 5
• Average sold price: $904,200

Make sure to look back next week for any changes.

What to know how much your Inner Sunset property is worth?  Send us a request.

Tags: Inner Sunset, San Francisco Real Estate

In Recovery? Home Buying and Selling in San Francisco: What is Up with Our Market?

First, I want to share a fun blog post on San Francisco & our crazy food culture. As a full-time Realtor and a part-time foodie, of course, I love Anthony Bourdain and his show, No Reservations. In case, you missed it, he recently visited SF (no, not for a home tour). Whether our obsessive, borderline militant, food-culture is appealing or just freaks you out, you’ll enjoy this read: No Reservations San Francisco!

Now, for an update on our local real estate market. What’s going on in the San Francisco real estate market? Is it true that there is a Seller’s Market again? What should a home buyer do? If you’ve been considering selling your SF home but were afraid… Generally, what is up with our SF real estate market?

Read the rest of this entry »

Tags: Market Updates, No Reservations San Francisco, San Francisco Real Estate, SF agent blog, SF Home buying, SFHotlist

What is the new conforming loan limit in San Francisco?

The new conforming loan limit for San Francisco is now $625,500 which is up from $417,000 but down from this year’s briefly enacted $729,750 limit. Conforming loans usually offers better rates and borrower qualification guidelines…

I’m told by my mortgage broker friends that rates look really good for buyers who want a loan amount of up to $625,500. With a 10-20% down payment, this could be a really nice condo or house. First time buyers….listen up! This is the best opportunity for you.

General announcement from the San Francisco Association of Realtors:

FHFA Announces “New” Conforming Loan Limits

The Federal Housing Finance Agency (FHFA) on Friday announced that the “new” conforming loan limit for 2009 will remain at $417,000 for most areas in the U.S., unchanged since 2006. Loan limits for high-cost areas, including California, are capped at $625,500, down from the previous $729,750 limit. Loan limits for many areas of the state do not reach this lower threshold and are dramatically reduced from 2008.

“Although price declines mean that the total number of homes eligible for conforming financing has increased, we’re disappointed that the $729,750 limit stipulated in the Economic Stimulus Act of 2008 signed in February was not made permanent,” said 2008 CAR President William E. Brown. “The reduction in the loan limit to $625,500 will negatively impact both the interest rates and the availability of funds for jumbo mortgages. We hope Congress will make the $729,750 limit permanent before the end of the year as one of the provisions in an economic stimulus package.”

The conforming loan limit determines the maximum size of a mortgage that Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac can buy or guarantee. Non-conforming or jumbo loans typically carry a higher mortgage interest rate than a conforming loan, increasing the monthly payment and negatively impacting affordability for households in California.

Tags: conforming loan limits, San Francisco Real Estate

Does Warren Buffett’s comment on housing apply to our local San Francisco Home Sales?

Berkshire Hathaway’s Annual Meeting dubbed “Woodstock” for Capitalists by the Wall St. Journal was full of insights and even a game of bridge between Warren and Bill. Warren Buffett and Bill Gates, that is!

Does Warren Buffett’s comment on housing apply to our local San Francisco Home Sales? You bet!

“In the last few months you’ve seen a real pickup in activity although at much lower prices,” Mr Buffett said, citing data from Berkshire’s real estate brokerage business, Home Services of America Inc., which is one of the largest in the U.S.

In California, medium and lower-price homes – under $750,000 – have been selling more, though there hasn’t been a bounce back in sale prices, Mr. Buffett said. “We see something close to stability at these much-reduced prices in the medium to lower part of the market.”

Here’s how to apply to San Francisco listings:

1. If you’re a buyer in the medium and lower price market, be prepared for competition but you’ll get a great deal.
2. If you’re a seller in the medium and lower price market, be realistic about your home’s value and it will sell quickly.
3. If you want to move-up from a lower price home and into a more luxury condo or house, you’re in the driver’s seat. Your “starter” home should sell quickly and you’ll have bargaining power for your next purchase. Make money on the buy this time!

Tags: Berkshire Hathaway, California medium home prices, San Francisco Real Estate, Wall Street Journal, Warren Buffett

Inner Mission Real Estate Report

Here is this week’s Inner Mission Real Estate Report

Single Family Home

• Average Price of Active Property: $1,082,988
• Number of SFH’s listed: 8
• Average Days on Market: 79
• Number of Sold: 0

Condo / TIC

• Average Price of Active Property: $624,139
• Number of Condo/TIC Home Listed: 66
• Average Days on Market: 61
• Average Price of Sold Property: $771,500
• Number of Sold: 4

Loft Condo

• Average Price of Active Property: $594,488
• Number of Loft Condo Homes Listed: 8
• Average Days on Market: 55
• Number of Sold: 0

Any changes from last week’s report?  Take a look.

To get a full report on Inner Mission real estate activity just send us an email.

And, if you want to know the value of your home, ask us for the free report.

Tags: Inner Mission Real Estate Report, Real Estate Reports, San Francisco Real Estate, What is my home worth

West Portal Real Estate Report

Here is this week’s West Portal Real Estate Report

• Average Price of Active Property: $1,090,667
• Number of SFH’s listed: 3
• Average Days on Market: 30
• Number of Sold: 0

Forest Hill Real Estate Report

• Average Price of Active Property: $1,427,750
• Number of SFH’s Listed: 5
• Average Days on Market: 60
• Number of Sold: 1 ($800,000)

Any changes from last week?  Take a look. 

To get a full report on Forest Hill or West Portal real estate activity just send us an email.

 

Tags: Real Estate Report, San Francisco Real Estate, West Portal Real Estate, What is my home worth

It’s your moment, first time home buyers. CARPE DIEM.

I’ve said it before and I’ll say it again, “Get off your tushies and buy a home.” RIGHT NOW is THE time for both first time home buyers and move-up buyers. Seize the day. Cheap money and cheaper homes will NOT last forever.

Using FHA home loans, you can get purchase money up to $729,250 with LOW DOWN PAYMENT (3.5% down plus/minus) and even spotty credit. Yes, you have to document your income. These are SAFE government backed loans.

Recently, my clients, a young engaged “techie” couple, purchased a San Francisco single family home for just over $600,000. They got a 30 year fixed interest rate loan of 5%. Are you kidding, me? This is insanely fabulous.

Plus, more and more condo buildings are being approved for FHA financing.

The Chronicle reported today on what those of us in the real estate trenches already know… It’s a great time for first time buyers. The homes that are selling are at the lower end of the market. Buyers are taking advantage of the chance to get super cheap financing on homes that have decreased in value 10-20% (in SF; more outside of the City).

Check out the article and let’s talk.

Tags: fha, First Time Buyer, San Francisco Real Estate

Bernal Heights Real Estate Report

Here is this week’s Bernal Heights Real Estate Report:

• Average Price of Active Property: $763,422
• Number of Active: 44
• Average Days on Market: 57
• Average Price of Sold Property: $678,250
• Number of Properties Sold:  4

How does that compare to last week.  Take a look and stay turned for any changes next week.

To get a full report on Bernal Heights real estate activity just send us an email.

And, if you want to know the value of your home, ask us for the free report.

Tags: Bernal Heights Real Estate, Real Estate Reports, San Francisco Real Estate, What is my home worth

It’s Official!

If you have not heard Danielle is now the Assistant Sales Manager at Zephyr Real Estate in West Portal.  See the official press release as posted on LuxuryRealEstate.com.

Congratulations Danielle!!

Tags: San Francisco Real Estate, West Portal Real Estate, Zephyr Real Estate

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