Real Estate

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 a short-term bridge to condo ownership, problems inherent in TIC ownership were tolerable, often even invisible and thousands of 2-6 unit buildings were transformed from tenant-occupied investment properties to owner-occupied homestead. However as the waiting time for condo conversion has lengthened from 3-5 years to over 20 years, the challenges of long-term TIC home ownership have become more apparent, heightening the need for a clearer understand of how TIC disputes are resolved.”

Read the rest of the article here:
2011 TIC Disputes Brochure

$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.

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Today Show 3/16 – Barbara Corcoran: SF is #1 for Housing Recovery

Visit msnbc.com for breaking news, world news, and news about the economy

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

Association Offers Services to Public, Too

Although the primary purpose of the San Francisco Association of REALTORS® is to offer business services and legislative representation to REALTORS® in San Francisco and surrounding areas, it also provides a variety of information services to the public to strengthen the connection between REALTORS® and consumers. Those services are described below.

District/Subdistrict Map

The district/subdistrict map, a longtime staple of the MLS operated by the San Francisco Association of REALTORS®, was last updated in 2009. The map defines neighborhoods and subneighborhoods, albeit unofficially, to allow listed properties to be searched by district and subdistrict, instead of street name or map coordinates. The boundary lines and district/subdistrict descriptions that were changed on the map most recently reflect changes in the nature and feel of the city’s neighborhoods. (more…)

Online Real Estate Resources

Below are links to wide variety of online resources pertinent to San Francisco real estate. Hope you find them useful.

What Style of Building Are you Living In?

San Francisco has a unique and varied architectural history, with many architectural styles and building forms represented. While this San Francisco Preservation Bulletin 18 discusses the foremost architectural periods, styles and building forms found in the City, it is not intended to be a comprehensive listing of architecture in San Francisco.

Period — Victorian (1860-1900). During this period, San Francisco’s architectural styles evolved from Mission-inspired and vernacular designs to styles of classicism and ornamentation. During the last decades of Britain’s Queen Victoria’s reign, a number of architectural styles were popularized in the United States. Loosely based on medieval prototypes, these styles are exemplified through multi-textured or multi-colored walls, asymmetrical facades and steeply pitched roofs. During this period, advances in technology resulted in the mass-production of housing materials such as doors, windows and siding, and the construction of complex shapes and elaborate detailing.

Period — Late Nineteenth and Early Twentieth Century Revivals (1890-1940). Commencing at the turn of the century and picking up steam in the 1920s, Period Revival architecture occurred amidst several great building booms. The longing for a foreign atmosphere, always a part of San Francisco culture, is exemplified during this period in which both traditional and exotic tastes found acceptance.

Period — Edwardian (1901-1910). Frequently, historic resources in San Francisco are referred to as “Edwardian,” in design and appearance. The term “Edwardian” was created to describe architecture produced in Great Britain and its colonies from 1901 to 1910, with the reign of Edward VII. Edwardian architecture encompasses a number of styles, with five main strands identified: Gothic Revival, Arts and Crafts, Neo-Georgian, Baroque Revival and the Beaux-Arts style. Interpreted in the United States and in San Francisco, the term “Edwardian” is often associated with multi-unit flats or apartment buildings constructed at the beginning of the 20th century.

Period — Modernistic (1925-1970). Beginning with the Art Deco style, the Modernistic period represented a radical departure in architectural expression. Art Deco was followed by Art Moderne, which, like its predecessor, was expressed through smooth surfaces, curved corners and the horizontality of structures. The period concludes with the International style, characterized by an absence of ornamentation and the use of rich materials, refined details and proportions.

Source:  SAN FRANCISCO PRESERVATION BULLETIN NO. 18

1995 to Present: SF Median Home Prices

Please note some neighborhoods have had very few sales.  Conclusions could be hard to draw because of this.

1995 to Present: SF Median Home Prices (PDF)