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Amie Chilson's Blog

By Amie Chilson | Broker in San Francisco, CA
  • Renting Instead of Selling Your Home

    Posted Under: Home Selling, Rental Basics, Rent vs Buy  |  May 16, 2013 5:36 PM  |  465 views  |  2 comments
    Depending on your circumstances, plans and current market conditions, renting one’s home instead of selling it may certainly be an option worth considering. Owning rental property may be a viable investment choice for you. However, there are additional factors to keep in mind as you make your decision.

    1. In San Francisco, renters often reduce property value for the following reasons:

    • Rental properties rarely show as well as owner-occupied properties and renters often neglect basic upkeep and maintenance.
    • If your property is subject to SF rent control/eviction limitations – which most properties built before 1979 are – evicting tenants or paying them off to move without eviction in order to sell the home later may be prohibitively expensive, take long periods of time or even be impossible. (You should consult a landlord-tenant attorney.)
    • SF tenants under the rent control ordinance are now owed relocation fees upon eviction – thousands of dollars per tenant. Buyers will want to be compensated for that cost.
    • If it’s impossible to evict the tenants, then you have to show it while tenant occupied, which can bring up multiple issues pertaining to appearance, showings, open houses, and tenant resentment and lack of cooperation. It also makes it virtually impossible to perform any staging of the home to make the property show in its best possible light.
    • Many buyers don’t want to buy tenant occupied homes and those buyers willing to deal with the issue usually expect a significant discount on the price.

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  • Gentrification Trend in SF

    Posted Under: Quality of Life in San Francisco, Market Conditions in San Francisco, Rent vs Buy in San Francisco  |  March 9, 2013 9:20 AM  |  256 views  |  No comments

    Gentrification is no longer a dirty word.

    A citywide surge in trendy restaurants. Runaway rental and housing rates. Construction cranes dotting the skyline. The Twitter-ization of blighted Mid-Market. Conversions of old buildings to new market-rate housing, even in the stubbornly seedy Tenderloin.

    Gentrification. And it’s happening with surprisingly little grumbling.

    “Or,” says 30-year real estate veteran Joske Thompson, “I think it is a different kind of grumbling. Even the long-termers in neighborhoods are appreciating the changes. Those people in the Mission like the fact that they can walk the neighborhood and feel safer.”

    The difference this time is that the push is coming from the bottom up. Rather than fat-cat developers promoting ugly skyscrapers, the demand is coming from young techies who work here or in the Silicon Valley and want to preserve the feel of unique neighborhoods. Their presence is being felt not only in the Mission, but also in areas that were once considered downtrodden.

    “This is a small city of 800,000 people,” says Supervisor Scott Wiener, who chairs the Board of Supervisors’ Land Use and Development Committee. “And 2 to 3 million people want to live here. We just need to make sure we don’t kill that quirkiness and uniqueness.”



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  • The San Francisco Metro Area Apartment Building Market

    Posted Under: Rent vs Buy in San Francisco, Rentals in San Francisco, Investment Properties in San Francisco  |  March 2, 2013 2:00 PM  |  416 views  |  No comments

    The Reis Reports Update Provided by the Paragon Real Estate Group for the Metro Area of San Francisco, Marin & San Mateo Counties.





    MARKET OVERVIEW:
    The economy of the West Bay area of metro San Francisco (aka the San Francisco Metropolitan Division) had one of the most dynamic economies in the country in 2012, and is attracting more people from across the globe than its housing market can accommodate. “Having left the heavy-lifting to technology companies until early this year, San Francisco’s non-tech employers are playing a growing role in the city’s labor recovery,” Bloomberg News reported. The dollar value of qualifying single-property apartment sales in San Francisco in 2012 was $879.2 million in 176 deals according to Reis Transaction Analytics. For the fourth quarter of 2012 Reis reports 57 deals for $253.3 million at a mean price of $230,512 per unit. A shortage of properties for sale is holding back deal volume, as demand is enormous.

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  • Happy First Time Home Buyer Experience

    Posted Under: Home Buying, Financing, Rent vs Buy  |  January 9, 2013 12:31 PM  |  283 views  |  No comments

    When I first started looking for a home to purchase, I had no idea where to begin. After meeting with a lender friend, I was introduced to Real Estate Agent Amie Chilson. Wow, what a great match! After a brief first meeting…

    …”Amie knew exactly what I wanted, needed, and where to start.”

    On a cold winter morning, Amie and I proceeded to set out on an adventure weekend in search of the perfect home. Although skeptical initially, I was instantly comfortable with Amie. She was so reassuring, and just pleasant to be around. Her professionalism was outstanding.

    Amie was diligent in returning my telephone calls, met with me in-person with any and all concerns that I had, and I truly believed that Amie’s heart in assisting me in finding a new home was in the right place.

    Through cold rainy weekends, disappointment in missing out on a home I wanted, through an injury, Amie had an injured foot during this time, Amie stood by my side, or rather hobbled by my side.

    Amie’s determination in helping me find my first home was an experience that I will never forget. In fact, I not only found a great place to settle my roots but I also made a fantastic friend in the process. I highly recommend my friend, Real Estate Agent Amie Chilson, to assist YOU in finding the perfect home. www.amiechilson.com

    - Jabari L. (Buyer)

 
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