SFisHome Group

Have you contacted anyone to help you yet? I'm still available Sunday morning. And agree with my colleagues who recommend that you meet more than one Realtor... we all work for free unless or until you buy a property with our help... so it's important that both parties feel comfortable with the other and have a high-trust relationship.

I like to conduct a "Buyer Consultation Interview" where I interview you for your wants and needs, share market research on "your market" (which I presume are 2-unit buildings in the Inner Richmond and Lake Districts), and you can ask any and all questions about me, the market, the home buying process etc. It's a great way to jump start the relationship and get a head start on your market knowledge. If you do the same with 2 other Realtors you'll be highly educated, and probably have found a great fit for your house hunting needs.

Feel free to contact me at Rob@SFisHOME.com or 415-652-3780 to arrange an interview, or to meet at a property Sunday morning to get started that way too. - Fri Nov 14 2008, 12:32

Hi Martha - the property you referenced has an accepted offer. They haven't released their contingencies yet, so it's possible the contract could fall out so it can't hurt to see it. But for now it is in contract. And if you're interested in all 2-unit buildings in price range and area I'm happy to arrange a time to speak and see properties Sunday morning. There are 4 somewhat similar buildings that are for-sale in the area, and I know of a two other nearby 2-unit buildings that are not listed on the MLS yet, but each of their owners would be willng to entertain offers right now and I can get us in to see them too. Email me at Rob@SFisHOME.com to arrange a time or request info on each of the above mentioned buildings. - Tue Nov 11 2008, 20:42

6 areas are probably the best matches

1. Try the area around 7th Ave to 9th Ave along Irving - ie the Inner Sunset - to get a flavor for the area watch the N-Judah unload on Irving at 7th St, and grab lunch or coffee at one of the many shops.

2. Slightly east is Haight/Ashbury - well known area so i won't describe

3. Inner Richmond near Clement/Arguello - lots of bars/restaurants/coffee shops on both Clement and Geary

4. There is now a glut of rentals on the market in SOMA/South Beach as Sellers can't sell so they are renting instead. Anything from 4th Street eastward and the closer to the Embarcadero/King Street the better for restaurants/shops/bars.

5. Inner Mission - thriving night life along Valencia and Mission from 15th St or so to 25th St or so.

5a or 6 is the nearby Mission Dolores neighborhood - the closer to the Mission the more reasonable the rents

Honorable mentions.... Lower Pac Heights near Fillmore & Bush/Pine. Hayes Valley near Gough/Hayes. The western/flat part of Nob Hill along Polk near Bush/Pine. There are many other great neighborhoods, but most of them are either more expensive, or don't have as much to walk to. Whereas the above should have some of the most modest rentals and a LOT to do within easy walking. - Fri Nov 14 2008, 12:24

If you get individual fractional financing, and the TIC building is run by a property management firm, then TIC's are not all that different than Condos. People seem to forget that Condos are also shared ownership.... yes you have your own deed... but you share responsibilty for everything outside of your own walls with every other condo owner. The building has to be managed by the owners, or the owners have to hire a property management firm or other 3rd parties to help un-complicate it. Same with TIC's.

So fractional financing, HOA Boards, and 3rd parties handling things like the building's taxes (like most Condos do) end the majority of the "complication". I think the real difference is that fewer people are comfortable with TIC's... they are comfortable with Condos, so even though they are "complicated" they brush it off.

Most people do run or shy away from TIC's.... but that is your opportunity to buy a home for significantly less than a comparable condo. In today's market, where Buying has come to a screeching halt thanks to the financial crisis, you should be able to pick up a TIC for 20% to 30% less than a comparable Condo. In hot markets it can be only 5% to 10% different in price. So if you buy what no one else will in a bad market, and sell it in a strong market, you'll get a greater rate of return.

The caveat to all of the above is that Loans are harder to get and cost more for TICs... so you absolutely must pay less for a TIC than a comparable condo to make up that difference... and again, in today's market, you should bargain hunt. TIC purchases are running about 1/10th of what they were this time last year... so there is enormous opportunity to find a phenomonal deal right now. Try http://www.automated-homefinder.com if you'd like an email search service... you can request only TIC's or only Condos, or enter multiple free searches to find homes that meet your needs. - Fri Nov 14 2008, 10:48

Welcome to SF... I moved here from NYC in '97 and my family is still wondering when I'm moving back :)

1521 Sutter is a great Lower Pac Hghts neighborhood with its' proximity to Japan Town, Fillmore St shopping district and Polk St shops. Also pretty good for commuting to the highways/bridges and to downtown. 1521 Sutter are nice new costruction units - although largely on the small size. At 5 months on the market now... I think it's a great investment if you can buy it right... meaning take advantage of the long time on the market, and this "perfect storm" buyers-market, and negotiate an amazing deal.

No one is buying right now - ever since Sept when the word "bailout" hit the airwaves... but contrarians always do the best when investing... they sell when everyone is buying, and buy when no one else will. So "yes", this could be a great investment.

If you're interested in discussing the property more drop me a line . And feel free to use http://www.evaluate-my-home.com for a price analysis for any one of the condos in the building.

Rob@SFisHOME.com - Wed Nov 12 2008, 13:26

North Beach is one of the strictest neighborhoods for commercial zoning... essentially banning Chain stores. Several years ago an Italian restaurant that wasn't a well known chain, but a chain never the less, snuck through the approval process, but once found out the neighborhood action group picketed it until it shut down. So as you walk down the street you won't see Starbucks, you'll see Cafe Roma and Cafe Trieste. You won't see Domino's pizza but you'll find North Beach Pizza and my favorite Golden Boy Pizza, etc, etc.

North Beach is known as an Italian neighborhood, although it is slowly losing some of that charm, but it remains a vibrant and unique neighborhood. Yes it's lost some value in this "financial crisis market", but since it's one of the sunniest parts of town, and one of the most visited by tourists, with easy access to downtown and both the Bay and GG Bridges, among many other attributes, North Beach is likely to remain a popular and vibrant neighborhood with it's own flair for a long, long time. - Tue Nov 11 2008, 00:38