Archive for November 2009 | Monthly archive page

SFAR Publishes Market Focus Report for October

The San Francisco Association of REALTORS® has issued its Market Focus report for October.

The reports are issued monthly and are prepared for the Association by the Rosen Consulting Group of Berkeley. The reports are based on information provided by Terradatum which extracts and analyzes information from the Association’s MLS.

Download the PDF’s to view the full reports:
-Market Focus: A monthly analysis of the San Francisco real estate market
     File Attachment: SFAR_Press_Release_111709.pdf (370 KB)

-San Francisco Pending Home Sales Increase 58 Percent Year over Year 
     File Attachment: SF_Realtors-November2009.pdf (151 KB)

Illegally Paved Front Setbacks Can Result in Fines

Members have reported that the City and County of San Francisco is issuing citations to homeowners who are parking cars on front lawns or in rear yards. The citations reference various sections of the city’s Planning Code. Here’s a simple grid prepared by the city’s Customer Service Center (Telephone 311) describing typical minor violations of the Planning Code and the penalties that are assessed for each violation:

Are you interested in more information?

The City and County of San Francisco established 311 to provide an easy-to-remember telephone number that connects residents, businesses and visitors to Customer Service Representatives ready to help with general government information and services. One call does it all—24-hours a day, 7 days a week, and 365 days a year.

Senators Agree to Extend Tax Credit for First-Time Homebuyers, Expanding It to Repeat Buyers

Senator Chris Dodd, D-CT, has been  negotiating for several weeks with Senator Johnny Isakson, R-GA., to craft an  extended tax credit for homebuyers that would pass the Senate. Last Wednesday,  they announced agreement on a bill that would extend the tax credit for  first-time homebuyers and offer a reduced credit of $6,500 to repeat buyers who  have owned their current homes for at least five years.

The tax credit provides up to $8,000 to  first-time homebuyers but is set to expire at the end of November. (more…)

Homebuyer Tax Credit: New Eligibility, New Rules, New Provisions

Don’t worry!  This is easy to read. 

NAR Homebuyer Tax Credit Chart: published by the National Association of Realtors, this is a great synopsis of the latest version of the Homebuyer Tax Credit that has been approved by the government. 

There is now a provision for a “homebuyer,” not just “first-time homebuyers.”  As with anything, there are restrictions and limitations.  Take a peek and call me with any questions.

Current Conforming Loan Limits Extended Through 2010

President Obama has signed a resolution passed last Thursday by Congress extending the current limits for Fannie Mae, Freddie Mac, and Federal Housing Administration (FHA) loans through 2010.

The conforming loan limits determine 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.