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Lance King's Blog

By Lance King-Founder/Broker | Managing Broker in San Francisco, CA
  • King Realty featured on the Cover of Top Agent Magazine

    Posted Under: Home Buying in San Francisco, Home Selling in San Francisco, Financing in San Francisco  |  August 3, 2014 11:42 AM  |  20 views  |  No comments
    When you consider who you want to hire to represent you on the purchase or sale of real estate, how do you figure out who is the best? One way is to look at Top Agent Magazine and see who they think is best.

    I am truly honored to be featured on the cover of this Month's Top Agent Magazine for Northern California - http://www.topagentmagazine.com/top-agent-magazine-northern-california/

    If you would like to find out some of the reasons why we should be your top choice, contact me at lance@king-realtygroup.com or 415.722.5549

    Sincerely,


    Lance King - Broker/CEO
  • New Condo Lottery Bypass Legislation is Seriously Flawed

    Posted Under: Home Buying in San Francisco, Home Selling in San Francisco, Property Q&A in San Francisco  |  July 17, 2013 7:07 PM  |  1,163 views  |  No comments
    So what is the real impact of the new legislation regarding TIC conversion to condos?

    There seems to be a lot of confusion about this, and there should be – it’s one of the worst pieces of legislation we’ve had the misfortune to have affect our clients and our industry. Here’s a short summary of what has happened and what some potential issues are:

    • The condo lottery as we have known it in San Francisco that has allowed 200 units annually to convert to condominium will be suspended for a minimum of 10 years regardless of any legal challenges to the law.
    • Upon resumption of the lottery 5 and 6 unit buildings formed as TICs will no longer be eligible to convert.
    • 3 and 4 unit TICs will need to meet increased owner occupancy requirements in order to become eligible for future lotteries, making it harder for these groups to convert.
    • The fee set at $20k per unit to convert, reduced by the number of years a building unsuccessfully participated in past lotteries, was effectively increased. The reduction is now based upon the number of years each applying TIC owner has unsuccessfully participated.

    Tenant activists said the trade-off for these restrictions was that the thousands of TIC units would be able to bypass the annual condo lottery and convert their units to condos. While it is debatable whether these additional restrictions represent a fair compromise, it’s only a compromise if TIC owners actually get to bypass the lottery. Whether or not that will happen is a huge if, because tenant advocates also put in “poison pill” language in the legislation that will suspend the bypass program and the normal condo lottery if anyone files a lawsuit challenging the legislation, until the lawsuit is resolved. So there is a very real possibility that few, if any TIC units will be able to convert under the bypass program – and that the normal lottery will be disabled for a long time. Brilliant.

    I spoke with a real estate attorney today who owns a TIC and is hoping to bypass the lottery, and according to him the planning department doesn't even have the applications yet.

    And what happens to the $20K in fees of all those who put down their money to convert and a lawsuit is filed (I can’t imagine there aren’t people lined up to file them)? Nobody knows, but I can see how all those funds might very well sit in limbo while everything gets sorted out, and we all know that lawsuits, especially ones on issues as contentious this, do not get resolved quickly.

    This legislation makes no sense. It likely offers nothing to TIC owners and suspends the lottery while doing so. Tell your supervisors to fix this horrible legislation as it does no one any good.

    For more information on TICs or other Real Estate matters contact:
    Lance R King - Broker/Owner
    King Realty Group
    50 California Street Suite 1500
    San Francisco, CA 94111

    415.722.5549 Cell
    lance@king-realtygroup.com
    www.king-realtygroup.com
  • Sellers: Even in a Sellers' market it still matters who you hire.

    Posted Under: Home Buying, Home Selling, In My Neighborhood  |  June 11, 2013 12:43 PM  |  1,224 views  |  No comments
    Lots of Sellers hire their friends or the agent who helped their parents buy 20 years ago or some other off handed means without really vetting that agent/broker because it's a sellers' market and doesn't really matter - right?

    Wrong. In a market like this just about anyone can get you into contract, even with the shoddy marketing we see all too frequently. But even in a Sellers' market almost every deal hits at least one bump in the road, and how your representative handles that bump(s) is usually the difference between a closed sale and a property that goes back on the market.

    And if your representative doesn't handle those bumps well and it does go back on the market, most likely the next offer (s) that come are going to be lower so who you hire is of paramount importance IN ANY MARKET.

    If you are thinking about selling, find out how our team approach to real estate and business model can not only frequently get you better offers faster, often without even going on the MLS, but save you money, too.

    For more information/no-strings consultation:

    Lance R King/Founder-Managing Broker
    415.722.5549 - Cell
    lance@king-realtygroup.com

    on the web:
    Website: www.king-realtygroup.com
    Facebook: www.facebook.com/kingrealtysf
    Twitter: @kingrealtysf
    Yelp: www.yelp.com/biz/king-realty-group-san-francisco


  • SF Buyers, your best shot in this market is off-market listings

    Posted Under: Home Buying in San Francisco, Home Selling in San Francisco, Property Q&A in San Francisco  |  April 22, 2013 8:13 AM  |  1,409 views  |  No comments

    Pretty much everyone understands that the market in San Francisco has really heated up over the last year. It's gotten to the point now where even properties in what used to be fringe/second tier neighborhoods are getting multiple, over asking price offers. So what's a buyer to do?

    You could just wait, but there is another option. Your best shot in the this market is getting in to see properties before they ever hit the MLS, and more and more places are going to market this way. It's less stressful for both buyer and seller, and it gives buyers a chance to make an offer without the frenzy of multiple offer chaos.

    In many cases more reasonable prices can be obtained, especially when the seller wants some extra consideration - long close, rentback, etc...

    It's important to note that an overwhelming majority of agents/brokers don’t have access to these properties, and if you are out of the off-market loop you are missing out on a lot of places as more and more properties are going to market this way.

    If you are a qualified buyer and would like access to off market and upcoming properties before they hit the open market you can reach me by cell or email:

    415.722.5549

    lance@king-realtygroup.com

    Website: www.king-realtygroup.com

  • Changes at Fixed Rate Properties

    Posted Under: Home Buying in San Francisco, Home Selling in San Francisco, Agent2Agent in San Francisco  |  March 19, 2013 2:59 PM  |  1,455 views  |  No comments
    Dear Colleagues, Buyers, & Sellers,

    Under the auspices of redesigning our website and our look, we have also decided to change the company name to King Realty Group.

    my new email: lance@king-realtygroup.com
    new website: www.king-realtygroup.com

    We will continue to provide the same excellent service to colleagues and clients alike.

    Best Regards,

    Lance R. King - Founder-Managing Broker

    King Realty Group

    415.722.5549 Cell

    License# 01384425

     


  • Great New Listing in Lafayette

    Posted Under: Home Buying in Lafayette, In My Neighborhood in Lafayette  |  December 3, 2012 7:17 AM  |  1,368 views  |  No comments
    We just put 3432 Saint Marys Rd on the market. With virtually no inventory on the market this is even more interesting of a property.

    The 3 BR 2BA main house has been completely redone to create a sunny open floor plan, and also has  a huge additional bonus room plus a separate 1BR 1BA in-law unit for rental income/au pair/guest quarters or office space. There is new plumbing & electrical in the kitchen and baths, a new master bath suite, all new kitchen and appliances, in house washer/dryer, new roof, new landscaping, new deck, new concrete & more. Comes with 2 car garage and lots of yard space. Only one block from Stanley middle school and close to downtown Lafayette shops and restaurants and BART station. Priced at $959K


    Open Tue Dec 4 from 10:30 - 1 and Sunday Dec 9 from 2 - 4 and avail to see by appt.

    for more info go to www.3432saintmarysrd.com

  • 3 New Luxury Noe Condos for Sale - First Open Tuesday 12-1:30

    Posted Under: Home Buying in Noe Valley, Home Selling in Noe Valley, In My Neighborhood in Noe Valley  |  July 29, 2012 1:14 PM  |  1,524 views  |  No comments

    Located only 2.5 blocks from the 24th Street commercial district, these new luxury condos give you easy access to Whole Foods and all the other great nearby shops and restaurants, and those working down the Peninsula easy freeway access. All units come with high end finishes, tons of sun and light, hardwood and tile floors, gourmet kitchens, parking, storage, and  private outdoor space.

    1266 Dolores - 2BR 2BA w/ 1 car parking & private yard - $899,000

    www.1266dolores.com

    1268 Dolores - slightly larger 2BR 2BA w/ 2car parking & private yard - $929,000 - www.1268dolores.com

    1270 Dolores - Top Floor 2-level 3BA+ 3BA w/3 decks, views, & 2 car parking - $1,249,000 - www.1270dolores.com


    For more info or private showings contact Listing Broker Lance R King (DRE# 01384425)
    415.722.5549
    lance@fixedrateproperties.com
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