Luba Muzichenko

San Francisco Realtor

Archives for April 2010

Getting Real – Truth in Advertising

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San Francisco Real Estate 2

On this wet and rainy Monday, I thought I’d share a refreshing little listing that put the “real” back in “realtor!” 🙂
Real estate agents are known for some serious fluff in our marketing pieces.  We use words like “cozy” when we mean “tiny”.  Or we say it has “potential” when we mean “once you rip out the kitchen, the bathrooms, the wallpaper, and that hideous statue it’ll be exactly what you want.”  
I could go on with the examples, but you get the point.
But for once, I found a little something something that was about as honest as it gets.
The listing agent’s marketing remarks:

Needs everything, not just TLC… but everything! Not to be even concidered unless you are a contractor. Still want to see it? Be prepared to walk lightly because you may fall through the floor. Nice roof just a few years old,at least something is good on the thing.

High five for a nice dose of reality!  😀
Full details on the bargain priced fixer (Just $350,000) located at 522 Athens in San Francisco can be found by clicking here.

30 Days of Sold San Francisco Properties

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San Francisco real estate

Want to know know what sold in San Francisco in the last 30 days? Sign up for The City Update(TM) – San Francisco’s Friendliest Newsletter. You’ll get the details, and then some, in your inbox (almost) every Friday.
If you just want the round numbers, you can check them out below.
Sold Listings 03/08/10 – 04/08/10

Neighborhood Total Listings Average Price Average DOM
Alamo Square 2 $1,522,500 118
Anza Vista 1 $710,000 44
Bayview 9 $330,689 65
Bayview Heights 3 $328,300 144
Bernal Heights 15 $713,800 54
Buena Vista Park 2 $4,060,000 92
Central Richmond 4 $925,750 47
Central Sunset 8 $743,500 64
Central Waterfront 3 $569,000 117
Clarendon Heights 1 $2,840,000 15
Corona Heights 5 $1,039,000 34
Cow Hollow 6 $1,975,417 48
Crocker Amazon 6 $405,877 50
Diamond Heights 2 $738,500 158
Downtown 5 $506,978 70
Duboce Triangle 2 $642,500 39
Eureka V./Dolores Hts 17 $1,033,588 60
Excelsior 10 $496,700 39
Financial District 2 $707,000 63
Forest Hill 1 $850,000 24
Forest Knolls 1 $625,000 20
Glen Park 6 $952,250 19
Golden Gate Heights 5 $871,000 33
Haight Ashbury 5 $1,145,500 37
Hayes Valley 16 $959,781 49
Ingleside 4 $433,250 46
Ingleside Heights 3 $370,000 19
Inner Mission 15 $741,200 71
Inner Parkside 2 $2,290,000 10
Inner Richmond 4 $632,375 93
Lake 9 $1,451,556 25
Lake Shore 2 $684,000 26
Lakeside 1 $789,000 134
Laurel Heights 2 $1,540,000 31
Lone Mountain 2 $872,500 29
Lower Pacific Heights 9 $741,550 75
Marina 6 $1,402,083 44
Merced Heights 4 $592,250 41
Merced Manor 1 $1,150,000 67
Midtown Terrace 2 $751,500 49
Miraloma Park 3 $645,000 36
Mission Bay 5 $833,000 170
Mission Dolores 9 $721,167 46
Mount Davidson Manor 1 $832,000 65
Nob Hill 11 $1,277,818 68
Noe Valley 25 $1,260,930 46
North Beach 1 $3,175,000 136
North Panhandle 5 $760,650 57
North Waterfront 2 $625,000 34
Oceanview 2 $460,000 37
Outer Mission 5 $592,640 84
Outer Parkside 4 $765,000 43
Outer Richmond 8 $782,375 37
Outer Sunset 3 $680,000 62
Pacific Heights 19 $2,886,526 58
Parkside 13 $837,808 52
Parnassus/Ashbury Hts 9 $1,880,111 66
Portola 4 $521,000 51
Potrero Hill 11 $716,325 85
Presidio Heights 4 $3,630,219 84
Russian Hill 14 $1,463,857 86
Sea Cliff 2 $2,875,000 170
Silver Terrace 5 $478,000 95
South Beach 20 $767,523 85
South of Market 25 $666,676 114
St. Francis Wood 3 $2,041,667 45
Sunnyside 7 $682,429 54
Telegraph Hill 6 $937,000 133
Tenderloin 3 $1,028,333 188
Twin Peaks 2 $867,000 111
Van Ness/Civic Center 5 $551,500 52
Visitacion Valley 5 $386,170 31
West Portal 3 $1,158,000 58
Western Addition 2 $530,000 146
Westwood Highlands 4 $953,750 38

San Francisco Real Estate Sales Data – January – March 2010

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In case you haven’t noticed, I’ve been a little behind on my blog posts as of late.  I’m a San Francisco Realtor first, and a blogger second.  So priority has been taking care of my buyers and sellers.  But there’s a teensy calm in the storm (the kind where the forecast is still calling for rain, but you peek outside and see a rainbow knowing that by the time you take off your galoshes, the rain will be back!) 
So since I’ve been behind in getting you the data you so desperately crave, here’s three months of it all at once.  Hopefully, it’ll be enough to make ammends.  And if not, I promise I’ll be around more often for you all.   
So here’s this wuarter’s summary of home sales pulled directly from the MLS. Remember, these are all closed sales and not pending sales.
Check back monthly to get the latest facts and figures – and if you have any questions about these statistics, or the market in general, feel free to give me a holler! I’m always happy to talk “real estate!” ;-)
Here’s a quick snapshot of the market from January 1 through March 30, 2010:
JANUARY
Single Family Homes

  • 119 Homes Sold
  • Median Sale Price was $718,000
  • Minimum Sale Price was $150,000
  • Maximum Sale Price was $6,500,000
  • Median Selling Price was 103% of asking price
  • Median Days on Market was 61
  • Median Selling Price for homes that sold within 30 days was 103.5% of asking price

Condominiums, Lofts & Co-ops

  • 93 Homes Sold
  • Median Sale Price was $620,000
  • Minimum Sale Price was $208,700
  • Maximum Sale Price was $1,750,000
  • Median Selling Price was 99% of asking price
  • Median Days on Market was 72
  • Median Selling Price for homes that sold within 30 days was 99% of asking price

TIC’s

  • 22 Homes Sold
  • Median Sale Price was $584,000
  • Minimum Sale Price was $330,000
  • Maximum Sale Price was $895,000
  • Median Selling Price was 101% of asking price
  • Median Days on Market was 108
  • Median Selling Price for homes that sold within 30 days was 100% of asking price

 
FEBRUARY
Single Family Homes

  • 120 Homes Sold
  • Median Sale Price was $701,250
  • Minimum Sale Price was $200,000
  • Maximum Sale Price was $3,362,500
  • Median Selling Price was 101% of asking price
  • Median Days on Market was 33
  • Median Selling Price for homes that sold within 30 days was 104% of asking price

Condominiums, Lofts & Co-ops

  • 120 Homes Sold
  • Median Sale Price was $660,000
  • Minimum Sale Price was $115,000
  • Maximum Sale Price was $4,100,000
  • Median Selling Price was 97% of asking price
  • Median Days on Market was 54
  • Median Selling Price for homes that sold within 30 days was 100% of asking price

TIC’s

  • 23 Homes Sold
  • Median Sale Price was $549,000
  • Minimum Sale Price was $250,000
  • Maximum Sale Price was $870,000
  • Median Selling Price was 102% of asking price
  • Median Days on Market was 104
  • Median Selling Price for homes that sold within 30 days was 97% of asking price

 
MARCH
Single Family Homes

  • 210 Homes Sold
  • Median Sale Price was $790,000
  • Minimum Sale Price was $130,000
  • Maximum Sale Price was $13,500,000
  • Median Selling Price was 100% of asking price
  • Median Days on Market was 31
  • Median Selling Price for homes that sold within 30 days was 103% of asking price

Condominiums, Lofts & Co-ops

  • 182 Homes Sold
  • Median Sale Price was $683,500
  • Minimum Sale Price was $235,000
  • Maximum Sale Price was $2,450,000
  • Median Selling Price was 101% of asking price
  • Median Days on Market was 40
  • Median Selling Price for homes that sold within 30 days was 99% of asking price

TIC’s

  • 22 Homes Sold
  • Median Sale Price was $560,000
  • Minimum Sale Price was $370,000
  • Maximum Sale Price was $980,000
  • Median Selling Price was 99% of asking price
  • Median Days on Market was 53
  • Median Selling Price for homes that sold within 30 days was 101% of asking price

First Time San Francisco Homebuyers? HGTV wants YOU!

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I guess I’ve always sorta wanted to be on TV. 

I’m not very photogenic – I always get caught with expressions that look like I’m smelling something rotten, or in some ridiculous shot where I am devouring piles of snow, or where I look like I’m actually taking a nap. 

But I figured that as long as the camera keeps rolling, maybe those expressions won’t get frozen in time – unless someone pauses the screen on their DVR, in which case, well… you can’t win them all.

Now, I’ve been talking to the casting folks over at HGTV’s show “My First Place” and they are ready and willing to work with my first time home buyers clients.  🙂

So, if you’re ever wanted to be on TV like me, and aren’t afraid of your expressions being frozen on someone’s paused DVR, then read the details from the HGTV folks.   And if you want to have your homebuying experience taped (and get a nice little housewarming gift at the end to boot) shoot me an email and I’ll get you hooked up with an application!

BUYING YOUR FIRST PLACE?
Then HGTV is looking for you!
MY FIRST PLACE, HGTV’s hit series, is coming back for an eighth season and we’re looking for first-time homebuyers (and their agents!) in the Greater San Francisco area RIGHT NOW!
We are looking for fun, high-energy people who are just starting the home-buying process for their first place and would like to share their story with HGTV! Our goal is to capture all the trials and tribulations of looking for, bidding on and buying your first place.
Taping takes place this spring and summer.  Ideal candidates will be enthusiastic buyers with a great story to tell and a desire to share their experiences. Singles, couples and families are all invited to apply!
Candidates who complete taping will receive a surprise housewarming gift as part of the show and also a DVD copy of their episode to document their first home buying experience for all time!

Here is the links to apply from the HGTV and High Noon websites:
High Noon  
HGTV
Oh, and don’t forget to select your favorite Realtor to join you! 🙂

$18,000 in Free Money for San Francisco Home Buyers

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You read that right!  First time home buyers that get into contract before May 1st and close between May 1st and June 30th get a big fat tax credit! 
I could rehash the details, or I could give you the skippy straight from the horse’s mouth (and by horse, I mean the San Francisco Association of Realtors.)  You’re getting the latter:

$18,000 in Combined Home Buyer Tax Credits for a Limited Time
Californians have a brief window of opportunity to receive up to $18,000 in combined federal and State home buyer tax credits. To take advantage of both tax credits, a first-time home buyer must enter into a purchase contract for a principal residence before May 1, 2010, and close escrow between May 1, 2010 and June 30, 2010, inclusive. Buyers who are not first-time home buyers may use the same timeframes to receive up to $16,500 in combined tax credits if they are long-time residents of their existing homes as permitted under federal law, and they purchase properties that have never been previously occupied as provided under California law.
Under the federal law slated to soon expire, a first-time home buyer may receive up to $8,000 in tax credits, and a long-time resident may receive up to $6,500, for certain purchase contracts entered into by April 30, 2010 that close escrow by June 30, 2010. Additionally, under a newly enacted California law, a home buyer may receive up to $10,000 in tax credits as a first-time home buyer or buyer of a property that has never been occupied. The new California law applies to certain purchases that close escrow on or after May 1, 2010 (See Cal. Rev. & Tax Code section 17059.1(a)(4)). California law generally allows buyers of never-occupied properties to reserve their credits before closing escrow, but buyers seeking to combine the federal and state tax credits will not be able to satisfy the timing requirements for such reservations (see Cal. Rev. & Tax Code section 17059.1(c)(1)(A)). Other terms and restrictions apply to both tax credits.
For more information, CAR has prepared a Home Buyer Tax Credit Chart with a side-by-side summary of the federal and California laws. The State Association also has prepared a legal article entitled Home Buyer Tax Credit Update which might be of interest 

So, while I wouldn’t suggest running out and buying a home if you weren’t planning on doing it already, if you are already on the fence, $18,000 in dollar bills in one hand might be enough to tip you to the homebuying side.  🙂

A San Francisco Studio Condo for $220,873!

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Some of you may have heard about the San Francisco’s Below Market Rate Housing Program.  It allows would-be homebuyers with income that is somewhat restricted to actually buy a home of their own. 

The purchase price and resale price of these units is restricted by the City, so you’re not going to earn as much appreciation as you would in a a market value unit, but you ARE able to purchase something when otherwise, you might not be able to do so AND you are paying yourself instead of a landlord.

The studio condo in the picture is ready and waiting for a new buyer for the bargain price of $220,873!

Only 1 occupant is allowed to live in the unit and the income MAXIMUM is $67,750.  For more pictures and more details on the unit, visit the public link on the SF MLS.

But the listing agent does a pretty good job of describing the condo on her blog:

Built in 1906, the stunning brick and limestone facade reminded me of the timeless beauty of the historic brick buildings that I grew up with back east.   
The building’s interior has elegant original details interspersed with stylish modern murals.  For relatively low HOA fees, residents enjoy a rooftop deck and a gym in addition to other common meeting spaces and laundry facilities.
Inside the studio, the light from a large, street-facing window gleams off of beautiful hardwood floors and a modern stainless steel countertop.  Although small, the studio is smartly designed with space-maximizing storage solutions. 
The best features of this condo are the location and the price.  Busy professionals and students will appreciate how close the building is to all major forms of transportation that will quickly take them anywhere in San Francisco and allow them easy access to the East Bay, Peninsula and the South Bay.  Additionally, there are several spacious common areas that allow a party to continue when the last guest has nowhere else to stand but in the bathroom.

So if you’re in the market for something small, but efficient and your income doesn’t exceed $67,750 – this might be the home for you!