Archive for November, 2007

Amazing Staircase designs…

November 30, 2007 at 9:41 pm · Filed under Home Designs, Living ·Tagged , ,

I came across a few interesting designs for staircases. As you know, the city is filled with condos and flats with many staircases. Most of you also know that space is an expensive commodity in the city, hence if we can make use of any space we have, we should…

staircase storage

Since we’re on the topic of stairs, here are some interesting designs…

Multi-millionnaire Scott Jones decided to splash his cash on a spiral staircase-slide and instantly made a lot of people jealous. Local craftsman Rodney Miller was called upon to create this 17 ft mahogany toy, a job which took a whopping 15 months to finish. The slide also includes fiber-optic lights which can change to 8 different colors.

stair SLIDES

Nice Stairs… London-based designer Thomas Heatherwick created this amazing 55 ton steel staircase for the opening of the new Longchamps store in NY last year and has since received praise from all angles. The construction of the staircase was apparently a logistical nightmare, each of the 17 seperate units having to be installed precisely, stretching up to the ceiling.

fancy stairs…

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San Francisco listed as recent top 10 housing markets nationwide

November 29, 2007 at 3:25 pm · Filed under Money, Real Estate, Real Estate Buyers, Real Estate Sellers, SF Local ·Tagged ,

Just like stocks in the stock market, where some stocks go up and some stocks go down, and companies of alike can also have different performances, the real estate market and performance is something you also can’t generalize…  Based on the recent report from the Forbes magazine, the below is a list of the top 10 best performing housing markets based on:

  • 2007 Q3 median home sale price
  • percentage change compared to 2006 Q3
  1. Salt Lake City; Median Home Sale Price: $246,700; Percent Change:14.1 percent
  2. Charlotte, N.C., $220,000, 11 percent
  3. San Jose, Calif., $852,500, 9.4 percent
  4. San Francisco, $825,400, 8.6 percent
  5. Raleigh, N.C., $229,500, 7.5 percent
  6. Austin, $188,200, 7.2 percent
  7. Pittsburgh, $127,700, 6.1 percent
  8. Seattle, $394,700, 6 percent
  9. San Antonio, $154,700, 5.7 percent
  10. Portland, Ore., $299,700, 5.2 percent

Source: Forbes, Matt Woolsey (11/21/2007)

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October 06/07 Condo sales in San Francisco

November 28, 2007 at 9:51 pm · Filed under Real Estate, Real Estate Buyers, Real Estate Sellers, SF Local ·Tagged ,

Below are the statistics on condo sales in San Francisco broken down by districts. For the names of the district, feel free to check out our district map. Data provided by California Association of Realtors.  And as you can see, San Francisco is definitely a market that cannot be generalized, because it really depends on the property itself, the block the property is on, yada yada.  It’s safe to say, however, that if you are looking to buy a HOME (not speculative investment, although your home in the long term will be the biggest investment and the biggest reward), this is a good time to look for that opportunity to get a property you wanted at a potentially a very good price.

Condominiums

     
District 1

October 2006

October 2007
Number of Sales

15

7
Median Selling Price

701,000

779,000
Average DOM

33

25

District 2

October 2006

October 2007
Number of Sales

0

2
Median Selling Price  

752,500
Average DOM  

27

District 3

October 2006

October 2007
Number of Sales

3

0
Median Selling Price

595,000

  
Average DOM

22

  

District 4

October 2006

October 2007
Number of Sales

2

5
Median Selling Price

466,500

600,000
Average DOM

47

30

District 5

October 2006

October 2007
Number of Sales

28

31
Median Selling Price

785,000

891,000
Average DOM

34

37

District 6

October 2006

October 2007
Number of Sales

15

28
Median Selling Price

692,000

742,500
Average DOM

40

36

District 7

October 2006

October 2007
Number of Sales

20

28
Median Selling Price

950,000

1,400,000
Average DOM

46

35

District 8

October 2006

October 2007
Number of Sales

38

30
Median Selling Price

782,500

772,000
Average DOM

45

45

District 9

October 2006

October 2007
Number of Sales

34

46
Median Selling Price

702,500

669,000
Average DOM

49

39

District 10

October 2006

October 2007
Number of Sales

2

8
Median Selling Price

454,299

353,500
Average DOM

24

39

District 11

October 2006

October 2007
Number of Sales

6

4
Median Selling Price

447,500

495,000
Average DOM

74

66

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Sustainable Living… A true green home built by a family, lived by a family

November 26, 2007 at 10:14 pm · Filed under Cradle to Cradle, Living, Real Estate ·Tagged , ,

I found this website about a family that built a eco-friendly home. It’s not one of those modern architecture buildings with solar panels. What I am talking about is a truly organic home that will leave very little eco-footprint in the world.Front of House

The short story goes like this. A financially constrained family that are committed to being full-time parents to their 2 children, with deep concerns and convictions about the earth, had an offer from a landlord to move to his woodland in west Wales to build an eco-house. There was no security deposit collected or long term ownership, but £2000 was available for materials. The family went on their way to design and build their organic home, and here are some pictures… Inside

I’m very touched by the voice of this family. What they stand for, and the choices they are making.  Needless to say, this looks like a beautiful, beautiful home.

wide.jpg

Take a look at the website and the interview by a student to this family.

http://simondale.net/house/

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Interested in Foreclosures?

November 23, 2007 at 11:53 pm · Filed under Real Estate ·Tagged ,

If you want to know about foreclosure statistics, check out the recent quarterly report from realtytrac.com.

Looking at Bay Area regions, Stockton, Fresno, Sacramento, Oakland are all places that have a lot of foreclosure homes.  For those of you keeping your eyes on the market for a good deal, make sure you add www.ForeclosurePulse.com to your favorite links.  

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Are we really richer or poorer now?

November 20, 2007 at 12:00 am · Filed under Living, Money ·Tagged , , , , , ,

Did you know…

1. The median family net worth in 1983 was $49,700. In 2004, it was $99,300?

2. Consumer spending per household was $37,900 in 1973 and $47,900 in 2005?

3. The total assets in mutual funds (in-inflation-adjusted) was $59.8 billionin 1972 and $10.4 trillion in 2006?

4. The average life expectancy for men and women born in 1972 was 71.2 years and is 77.9 years born in 2004?

5. The average size of a single family home in 1973 was 1,700sqft. In 2006, it’s 2,500sqft?

6. Female MBAs were 4 out of 100 in 1972 and 42 outof 100 in 2004?

This means we are wealthier, acquire more, invest more, living longer, have more space, and women prospered…

BUT!!!!!! Did you know…

7. The ratio of median home price to median income was 2.4 in 1972 and was 3.9 in 2005?

8. Credit card and other revolving debt per household in 1972 was $600, and was $7,300 in 2006?

9. Annual college tuition fees average at $2,200 for public, $9,000 for private during 1976, but is $5,800 for public, $22,200 for private in 2006?

10. Employer and individual paid insurance plus out of pocket spending per household on healthcare was $3,400 in 1972, and is $8,300 in 2005?

11. Family income increase between 1972 o 2005 using 2005 dollars indicates that the real progress in earnings are happening in the 95th percentile earner?

12. Private sector workers covered by defined benefits plans went from 43.7% in 1974 to 168% in 2004?

That means… Homes are a bigger burden now, our debt has gone up, college tuition have soared, healthcare costs are rising, much more money is made by the rich while the average earner is not making more today compared to yesterday, and pensions are fading…

In the end, we must think about what is important, what makes us happy.  Maybe sometimes less is more…

data source by Money Magazine October 2007.

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San Francisco Transfer Tax Rates are based on Sale Price!

November 18, 2007 at 3:46 pm · Filed under Real Estate, Real Estate Sellers ·Tagged , ,

Not sure if all you sellers are aware, the transfer tax in SF is based on the purchase price. Here is how it’s calculated…

Housing Price Range : Calculation

$100.01 – $250k : $5/$1000 of property value

$250,000.01 – $999,999,99 : $6.80/$1000 of property value

$1 mil + : $7.50/$1000 of property value

As a note, in San Francisco, it’s customary for the seller to pay the transfer taxes.  Rarely buyers may pay if it’s a new construction.

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San Francisco Buyers: note to self about homeowner’s insurance

November 18, 2007 at 1:33 pm · Filed under Real Estate, Real Estate Buyers ·Tagged , , ,

first of all, it’s important to know that buyers of real estate need proof of insurance is needed to obtain mortgage financing. Due to losses from earthquakes, etc. there had been many insurance companies that are withdrawing from California.

So here are some things to keep in mind as note to self when looking to buy a real estate property.
1. make sure you request the sellers to provide disclosures of any known insurance claims made against the property during the seller’s ownership.

2. you can add in the purchase contract to request the seller to provide a “CLUE” (comprehensive loss underwriting exchange) report on himself/herself and the property. This report tracks the loss history for persons and properties for the past 5 years, and is used by insurance companies to make decisions on whether to issue homeowner’s insurance to a person or property.

3. if necessary, you can make the contract contingent on the insurance reduce the risks of not being able to get a reasonable homeowners insurance.

4. If you have to get earthquake insurance, make sure it covers the following: 1. dwelling coverage (essentially the cost to rebuild the structure on he property) 2. contents coverage 3. additional living expenses (“LAE”)

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Real estate title and possession

November 18, 2007 at 8:06 am · Filed under Real Estate, Real Estate Buyers ·Tagged , , ,

There are two important definitions I thought I would share with new buyers out there that may need to decide on how to take title to a property when purchasing property with another individual. How a buyer takes title can have impact on financing, estate planning, tax implications.

Obviously if you are buying this as a sole owner, then it’s pretty simple in terms of how you take title. But when purchasing a real property with another individual, you can choose the following ways to take title.

1. Tenancy-in-common: key here is any tenant-in-common owner can sell his/her interest in property as see fit or designate someone to inherit the his/her share of the property if something happens.

2. Joint tenancy: This is used mainly by husband and wives, where the main difference is that if one joint tenant dies, the surviving joint tenant immediately becomes the sole owner.

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Real Estate is still a solid Long-Term Investment

November 15, 2007 at 11:56 pm · Filed under Real Estate, Real Estate Buyers ·Tagged

Despite the recent slowdown of the housing market, a closer examination of the data reveals that on average, these same markets appreciated in value by more than 50 percent over the past five years.

It’s important to keep things in perspective, because the current housing price correction is most pronounced in the once super-heated markets in California, Nevada, Florida and Arizona. However, while home values in Los Angeles fell 5.7 percent in the last year — even with this loss prices in L.A. are up 88.9 percent since 2002. In Miami, home prices dropped 7.8 percent between August 2006 and August 2007 while showing a price appreciation of 89.2 percent during the past five years.

The same pattern holds true in Phoenix and Las Vegas, which each posted yearly declines of 8 percent and 7.6 percent, respectively. However, home values surged 80.2 percent in Phoenix during the past five years and 83.2 percent in Las Vegas.

While housing is a cyclical business, experience shows that over time, home values will stabilize and then move upward with the next recovery.

Homeownership as a long-term investment has a track record that is virtually unmatched by any other purchase in terms of its real benefits. Home owners today have a combined $11 trillion in equity in their homes, against which they can borrow to help pay for college tuition, medical expenses and other needs. And housing offers important tax incentives to make owning a home more affordable

.Home Price Indices

 

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November 2007 SF election results!

November 14, 2007 at 1:27 am · Filed under SF Local ·Tagged , ,

After delays in official announcement of election results due to the equipment issues from last week, the overwhelming absentee ballot count has put Gavin back in the office for the next 4 years! For those of you interested in ballet measure results, here they are!

San Francisco Voters Pass All But Two Local Ballot Measures

San Francisco voters were confronted with 11 measures on the municipal ballot last week. As of the writing of this article, the results of the voting reported by the city’s Department of Elections were as follows:

A – Municipal Transportation Agency funding increase
267 of 580 precincts reporting

YES 38,259 NO 33,119

B – Commissioner term limits
267 of 580 precincts reporting

YES 48,449 NO 20,371

C – Public hearings for ballot measures
267 of 580 precincts reporting

YES 49,614 NO 21,208

D – Library Preservation Fund renewal
267 of 580 precincts reporting

YES 52,778 NO 19,048

E – Mayor, required question time
267 of 580 precincts reporting

YES 34,508 NO 36,964

F – Airport police retirement
267 of 580 precincts reporting

YES 34,546 NO 32,911

G – Golden Gate Park Stables maintenance
267 of 580 precincts reporting

YES 38,413 NO 31,852

H – Parking spaces increase
267 of 580 precincts reporting

YES 25,849 NO 45,671

I – Small Business Assistance Center
267 of 580 precincts reporting

YES 40,492 NO 29,287

J – Free citywide wireless Internet access
267 of 580 precincts reporting

YES 44,998 NO 25,532

K – Limit advertising on bus shelters, city property
267 of 580 precincts reporting

YES 43,488 NO 27,512

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