Misc

The first time homebuyer’s tax credit is looking very likely to be extended for another year, and also include current homeowners. The homebuyer tax credit article from Yahoo says first time homebuyers would still get an $8,000 tax credit, and buyers who have owned their current home for at least 5 years would get a $6,500 credit.  From the article:

Buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500. First-time homebuyers — or anyone who hasn’t owned a home in the last three years — would still get up to $8,000. To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30.

Our local association of Realtors has been working hard to create high quality videos to help buyers and sellers better understand the real estate market and process.  Click the icon below to take a look at some of the latest San Francisco real estate videos they’ve created… because knowing is half the battle.

(Learn more about buying, selling and financing
real property. Click on the link to view video
features on contemporary real estate subjects.)

SF Blu interior

I’ve had a couple requests for the latest pricing at Blu, and as I was just there with a client this Thursday, I thought now would be a great time to provide it!  I was amazed to see how quickly their lower priced listings have been moving… in the span of a few short weeks they seem to have sold almost all of their listings under $700,000 except for 12E!  Without further ado:

Blu May 2009 Pricing:

Residence 7A……….Starting from $879,000
2 bed/ 2 bath………..HOA Dues $664.29

Residence 11B……….Starting from $800,318
2 bed/ 2 bath…………HOA Dues $651.21

Residence 10C……….Starting from $774,000
2 bed/ 2 bath…………HOA Dues $651.42

Residence 8D………..Starting from $839,400
2 bed/ 2 bath + den….HOA Dues $685.15

Residence 12E………..Starting from $686,700
2 bed/ 2 bath………….HOA Dues $623.49

Residence 6F………….Starting from $799,050
2 bed/ 2 bath………….HOA Dues $676.44 

Penthouses……………Starting from $2.9 million
3 beds/ 2.5 baths…….HOA Dues from the mid $800’s

$1,125,000 | 1 Bedrooms | 2 Bathrooms | 1 Car Parking | 1,050 Square Feet

My Featured Listing: 690 Market St. #1605…
This 1BR/1.5 BA at the Ritz Carlton offers the best value of any unit available in the building. The marble entry foyer transitions to a dark hardwood floor throughout the living room, dining area and kitchen. The bright living area offers nearly wall to wall windows with city and bay views. The kitchen is fully upgraded with all viking appliances and includes a separate wine fridge, along with granite counters, upgraded fixtures, and dark wood cabinetry. A separate island provides space for a breakfast area. All furnishings can be included at additional cost, making this a great turn-key property or corporate rental.??Amenities include valet-attended garage parking, business and conference facilities, private fitness center and a Residents’ Lounge. In addition, your 24-hour, full service Concierge can help arrange in-residence dining, reserving the services of a private chef, twice-daily housekeeping, dry cleaning, child care or virtually anything you might need.

Single Property Website is from My Single Property Websites

From Altos Research:

The median single family home price in SAN FRANCISCO this week is $921,500. The 614 homes have been on the market for an average of 105 days.

 

Inventory is up and Market Action is trending down recently. While days-on-market appears to be trending lower, the overall conditions are weakening a bit.

Photo from flickr by forstonsr

An article on CNN today titled “Signs of Life in California Real Estate” was positive overall, though they’ve learned from the past to hedge their bets when it comes to predictions. In short, the article was pointing to first time buyers coming into the market, lured by low prices, along with investors lured by returns (19% was the return for one investor in the article buying a townhome in Sacramento).

The Good:

Low prices have brought out droves of buyers. In February, they purchased more than 600,000 homes, some 80% more than they bought in February 2007, according to CAR. And most of this activity is where prices are off 40% to 60% from their peaks.

The Bad:

Most analysts foresee continued price declines in California, according to Nicholas Retsinas, director of Harvard’s Joint Center for Housing Studies. “But [there'll be] a slowing of that decline, which portends the end of price drops.”

 

CNN:  ”Signs of Life in California Real Estate“

For any realtors and real estate agents reading this, or even homeowners looking to sell on their own, I also have a blog about real estate marketing and strategy, www.resonantblog.com. I’ve posted a few examples of work I’ve done marketing my past listings, a tutorial on using google maps, and more.

News about the Stimulus plan From Realtor.com:

 - To promote green jobs and energy independence, ARRA invests significantly in efforts to make homes and buildings more energy efficient.  The bill provides state and local governments with $6 billion in energy efficiency and conservation grants for energy audits, retrofits and financial incentives.  Through 2010, homeowners will be able to claim a 30% tax credit (up from 10%) for purchases of new furnaces, windows and insulation.  Another $5 billion will be available to modernize the nation’s electricity grid and install smart meters on homes that help to save consumers money.  There is also $5 billion for weatherization assistance for low income households and $2 billion for federally assisted housing ( section 8 ) efficiency efforts. 

The latest real estate pricing for SF BLU in San Francisco:

• 6A, two bedroom two bath condo with city views: $958,500
• 15A, two bedroom two bath condo with city and west views: $1,162,400
• 7B, two bedroom two bath condo: $832,550
• 9B, two bedroom two bath condo: $860,000
• 2C, two bedroom two bath with private deeded outdoor space: $915,000
• 14C, two bedroom two bath with city and west views: $1,026,350
• 6D, two bedroom plus den, two bath overlooking the urban garden on 2nd floor: $934,550
• 18D, two bedroom plus den, two bath with bay, ballpark and west views: $1,276,083
• 3E, two bedroom two bath overlooking the urban garden on 2nd floor: $739,800
• 11E, two bedroom two bath: $821,312
• 5F, two bedroom two bath overlooking the urban garden on 2nd floor: $905,300
• PHA, Penthouse three bedroom, two and a half bath with incredible city and bay views: $3,395,000