All Blog Entries by Leslie Bauer

Please check the link before for new information pertaining update regarding the Esprit Phase Development.

http://espritpark.com/2011/09/25/were-in-7x7-esprit-parks-gorgeous-housing-development-ignites-the-spark-of-the-dogpatch/

2010 saw a very strong spring market turbo-charged by federal and state tax credits, a much slower summer, and then a strong finish from Labor Day on. The 4th quarter of 2010 had more accepted offers than the 4th quarters of 2009, 2008 & 2007. Comparing 2010 to 2009, overall median sales prices for SF houses and condos barely budged. The luxury home market woke back up. Interest rates jumped at the end of the year, but are still very low. Of those homes that did sell in 2010, most sold relatively quickly, without price reductions, at or a little above or below list price: the market identified them as good deals. A minority of sales sold after one or more price reductions, taking much longer and at a substantial discount to the original price. And many

If you believe your home may be eligible for a reduction in property taxes based upon a decline in value, there are two ways you might proceed: an Informal Review by the San Francisco Assessor's office and/or a Formal Appeal with Assessment Appeals Board. The Formal Appeal, in particular, can be a complicated and time consuming process. Generally speaking, homes purchased 2005 through mid-2008 (the time of peak values in most SF neighborhoods) have the best cases for a property tax reduction. Declines from peak value in the city generally range from 12-25%, though it all depends on the exact time, location and terms and conditions of your purchase. If your appeal is successful, the reduction

By Kelli Galippo • Dec 15th, 2010 •

California communities with a high volume of foreclosures are struggling to maintain the appearance of their neighborhoods as the influx of renter-occupants invests less time in the upkeep of their homes.

When investors buy up foreclosures and rent them out, the increased renter-to-homeowner ratio means neighborhoods are occupied by fewer homeowners motivated to spend time mowing their lawns and making repairs. Even worse, many foreclosures become vacancies, without even a tenant to hold accountable for overgrown or dead lawns.

Those remaining as long-time residents in foreclosure-plagued neighborhoods are legitimately concerned the increase in rentals will lead to a decrease in the community’s curb

FDIC Reports High Volumes of Delinquent Construction Loans
By Kelli Galippo • Dec 13th, 2010

Nationally, one out of every six dollars of construction and development (C&D) loans issued by banks, roughly 16% of all C&D loans, are at least 90 days delinquent as of September 30, 2010. Another 2% are 30 to 90 days delinquent.

Fourteen percent of all C&D loans in the 12th Federal Reserve District (Alaska, Washington, Oregon, California, Idaho, Nevada, Utah, Arizona and Hawaii) are more than 90 days delinquent. 3.7% of all types of bank loans in California are more than 90 days delinquent.

This trend in delinquencies has remained largely unchanged in the last three months. The rate of delinquency on C&D loans is eight times greater than the rate of

Robust Pending Sales Activity Presages a Stronger Housing Market for San Francisco
Posted on December 19, 2010

SAN FRANCISCO–Pending sales activity in the San Francisco housing market jumped 22 percent from November 2009 to 2010, according to the latest Market Focus report, published jointly by the Rosen Consulting Group and the San Francisco Association of REALTORS®.

“Robust pending sales activity should lead to a rebound in closed sales activity in the coming months in San Francisco”

Of these sales, 48.1 percent were single-family homes priced at less than $700,000—a significant increase when compared with November 2007, when 26.7 percent of pending home sales were in this price segment.

“Robust pending sales activity should lead

San Francisco City Overview

Alamo Square

Anza Vista

Bayview

Bayview Heightsv

Bernal Heights

Buena Vista Park

Central Waterfront

Clarendon Heights

Cole Valley

Corona Heights

Cow Hollow

Crocker Amazon

Diamond Heights

Dolores Heights

Downtown

Duboce Triangle

Eureka Valley

Excelsior

Forest Hill

Forest Hill Extension

Forest Knolls

Glen Park

Golden Gate Heights

Haight Ashbury

Hayes Valley

Ingleside

Ingleside Heights

Ingleside Terrace

Inner Richmond

Jordan Park / Laurel Heights

Lake

Lake Shore / Lakeside

Marina

Merced

Midtown Terrace

Miraloma

Mission

Mission Bay

Mission Dolores

Nob Hill

Noe Valley

Despite mostly negative reports from other parts of the country, the San Francisco home market has performed relatively well since the autumn market began after Labor Day. Indeed, the number of listings accepting offers in November was well above last year’s and the median home price is at its highest since the April tax-credit crush. Typically the market slows down dramatically from mid-November to mid-January, but so far it is slowing far less than usual.

Generally speaking, 30-40% of San Francisco new home listings accept offers within 30 days of going on market (i.e. quickly). They are perceived as good values, often attract multiple offers, and the sales prices for such homes are still, on average, slightly above the list price. (Houses perform

Unusual Buyer Need: (thinking about selling?)

Price Range :< $1,100,000 Neighborhood: Potrero Hill N. Slope Brief Description: Buyer seek 3BR home well located on Potrero Hill. Moderate fixer OK. Must have yard or reasonable outside space.

Price Range :< $850,000 Neighborhood: Inner Mission & Park Areape Brief Description: Buyer seek 3 bedroom home well located on Potrero Hill. Moderate fixer OK. Must have yard or reasonable outside space .

Price Range :< $699,000 Neighborhood: District 5 Brief Description: Buyer seeks Condo or TIC, 2 bedroom/1bathroom, Balcony…

Upcoming listing: $899,000 // Liberty Hill/Castro // 614 Noe Street BR/BA: 1/1PKG: Brief Description: Development Opportunity perfect for owner occupier. Awesome block in Liberty Hill/Castro. Great opportunity for end user, architect or someone to build dream home. Tear down cottage with preliminary plans for 3000+ sq. ft house. 4 bedroom/3bathroom. Property been through historical review and found not to be historic. Property not habitable. Lot is gigantic (over 3400 sq. ft) and there are panoramic views to the West, North and East.

Price Reduction: $699,000 Old Price: $717,000 // Inner Sunset // 1244 6th Ave. BR/BA: 2/1 PKG: 1 Brief Comments:

The monthly Market Charts Dynamics newsletter will come out next week (after all November’s data is in).

Here is the updated ROI Chart comparing major stock indices with SF home values since January 2000. Comparing stocks with real estate is like comparing apples with bagels, but still it’s kind of interesting.

Weekly Activity Charts through November 28th.

Listings Accepting Offers by Week: big drop off for short Thanksgiving week, but still more activity than several weeks during the summer, and only 16% below the weekly average for the past 6 months. Buyers still seem to be out there making deals.

Listings Actively for Sale: continuing to drop as is common as the holidays begin. The lowest number in the past 6 months, but still