Home Buying in SoMa : Questions & Answers

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John Hicks, Real Estate Pro in New Albany, OH
John Hicks answered:
What should my target purchase price be for a SFH with $550k cash, and 250k salary, no debt, excellent credit 800? 1st time buyer.
Great question! You should be able to afford a very high mortgage. You will want to speak with a lender who will go over monthly payments to see where you are comfortable. I would love ... more
0 votes Share Flag Fri Nov 28, 2014 Home Buying in SoMa
Brian Nguyen, Real Estate Pro in Mission Viejo, CA
Brian Nguyen answered:
What should my target purchase price be with 150k cash and a 250k salary? Excellent credit 760 , no debt. Single. No kids.
With that much cash and excellent credit scores and salary like yours, you should be able to qualify for a very high amount. Have you considered taking out a mortgage or jumbo loan for ... more
0 votes Share Flag Fri Mar 7, 2014 Home Buying in SoMa
Brad Neumann…, Real Estate Pro in Downers Grove, IL
Brad Neumann - NMLS 948036 answered:
Hi, am contemplating on buying a condo in SOMA (Harrison betw 4th and 5th st). Is it a safe neighborhood? What is expected $ for sq/ft?
That is a nice but expensive neighborhood. For mortgage help, call or email for a free pre-approval in less than 10 minutes. We lend our own money and are licensed in 49 states.

We ... more
0 votes Share Flag Wed Oct 30, 2013 Home Buying in SoMa
Gabriel Rojas, Real Estate Pro in 94107
Gabriel Rojas answered:
Will the new Bay Bridge light show raise SOMA property values?
Personally, I would not link the new installation with elevated prices at all. It's a nice for the entire city to enjoy for the short time it is here but don't think that people would c ... more
0 votes Share Flag Sun Mar 17, 2013 Home Buying in SoMa
Michael Cheng, Real Estate Pro in San Jose, CA
Michael Cheng answered:
How does buying an auction property work?
You'd show up with cash in hand or for certain auctions, your documents to qualify for financing. Then, the highest bidder wins and you'd close either that day or soon after.
0 votes Share Flag Sat Feb 2, 2013 Home Buying in SoMa
Faye Dibachi, Real Estate Pro in San Francisco County,...
Faye Dibachi answered:
Which neighborhoods are most accessible from SOMA?
It depends what your looking for in a neighborhood. For more urban: mission, hayes valley, south beach. For less urban: poterero hill, noe valley, bernal. Your options open up if you d ... more
0 votes Share Flag Fri Jan 13, 2012 Home Buying in SoMa
Sean Aggarwal, Home Buyer in Los Gatos, CA
Sean Aggarwal answered:
what is the average cost to rent an 800 sq ft apt around norfolk and harrison?
Alexander, I just went though this last month. I ended up renting a one bedroom apartment, about 750 square feet, in one of the high rise building in SOMA . I will share what I saw with ... more
0 votes Share Flag Fri Nov 25, 2011 Home Buying in SoMa
Kevin Olson…, Real Estate Pro in Colorado Springs, CO
Kevin Olson and Jessica Laude answered:
if i pay cash, wil there be a price chaNGE.
Cash is always better, but don't forget about the terms. The terms (closing date, earnest money, contingencies, etc.) can have just as large of an effect a cash offer can. Cash off ... more
0 votes Share Flag Wed Oct 6, 2010 Home Buying in SoMa
David 'TAP'…, Real Estate Pro in Burlingame, CA
David 'TAP' Tapper answered:
we signed a contract and gave $5k escrow back in MAY 2010, THEN we were told the house is in probate, we are out $2 k in storage so far, help
OK Teresa, let me get the disclainer out of the way and say I cannot give you legal advise, you should talk with a real estate attorney.

With that said, prior to spending the money ... more
0 votes Share Flag Sat Aug 21, 2010 Home Buying in SoMa
Oggi Kashi, Real Estate Pro in San Francisco, CA
Oggi Kashi answered:
Can someone let me know if a 2BR flat becomes available in One Rincon?
Hi,

Just use this link any time and you can see what is available as far as 2 bedroom condos at the Rincon:

http://www.mlsfinder.com/ca_sfar/oggikashi?action=newsearchsession& ... more
1 vote Share Flag Mon Jun 21, 2010 Home Buying in SoMa
Jamie Comer, Real Estate Pro in San Francisco, CA
Jamie Comer answered:
How much to rent for 6 months?
A short term rental is usually less expensive than a traditional lease. For a 1 bedroom 2000+ depending on location
0 votes Share Flag Sat Apr 24, 2010 Home Buying in SoMa
Erika Burke, Real Estate Pro in 94133
Erika Burke answered:
i own a share in a condo with siblilngs, if i die who gets my share
Don Tepper below gave the straight up answer. You can ask your favorite real estate consultant to have a title company conduct a title search for you to determine how you did receive t ... more
0 votes Share Flag Tue Apr 20, 2010 Home Buying in SoMa
Jed Lane; Fog…, Real Estate Pro in San Francisco, CA
Jed Lane; Fog City Guide answered:
I'm looking into a BMR resale in SOMA. But I don't know anything about how much tax write off I can get on mortgage interest if the sale
The reason that agents will respond to ask a tax advisor is that we are licensed by the State to act as fiduciaries in real estate transactions. We are not licensed to practice law or a ... more
0 votes Share Flag Tue Mar 23, 2010 Home Buying in SoMa
Rob Regan &a…, Real Estate Pro in San Francisco, CA
Rob Regan & Ciara Piron answered:
What happens if one wants to purchase a property (say condo) that has a tenant that is "protected"?
The word "protected" should say it all. Well, a lot of it. As everyone else say speak to an attorney - and do NOT take that advice lightly. If you attempt to negotiate or e ... more
0 votes Share Flag Mon Mar 22, 2010 Home Buying in SoMa
Get-smart, Other/Just Looking in Durham, NC
Get-smart answered:
What are your thoughts of buying a probate condo?
I know this post is old, but without knowing the actual numbers its hard to determine if you had a good deal. If the price is good then it's ok to pay a net price for the property ... more
0 votes Share Flag Sun Mar 21, 2010 Home Buying in SoMa
Paul Hwang, Real Estate Pro in 94105
Paul Hwang answered:
What is the average price /sq ft at One Rincon Hill with baybridge view? with city view?
Seems like the seller is holding more tightly lately, only one north east corner 2 br 2 ba left at One Rincon Hill through the developer.

Paul Hwang
Your SoMa / South Beach Super Br ... more
0 votes Share Flag Tue Jan 5, 2010 Home Buying in SoMa
Paul Hwang, Real Estate Pro in 94105
Paul Hwang answered:
How are closing fees, property taxes calculated for purchasing apartments in SF. What are all the costs?
Estimate 1-2% of purchase price. New Construction Developers may try to make you pay what traditionally the Seller pays. Stand your ground with them.


Paul Hwang
Your SoMa / South ... more
0 votes Share Flag Tue Jan 5, 2010 Home Buying in SoMa
Paul Hwang, Real Estate Pro in 94105
Paul Hwang answered:
Best investment/ neighborhood/ building at a reasonable price (under 500K) in a central neighborhood for young professional?
Calbgirl,

The buyer is the boss right now! I can instantly think of at least 5 better choices in SoMa / South Beach. In fact you will be just fine between $350k-$450K, although not a ... more
0 votes Share Flag Tue Jan 5, 2010 Home Buying in SoMa
Paul Hwang, Real Estate Pro in 94105
Paul Hwang answered:
Which has better resale value a Jr. bedroom with a view, or a 1 full bedroom with a lesser view?
Everything is case by case, but in general go with the full 1 BR. Usuaully I would just lever one against the other, and go with the best value (probably the full 1 br).

Paul Hwang
... more
0 votes Share Flag Tue Jan 5, 2010 Home Buying in SoMa
Paul Hwang, Real Estate Pro in 94105
Paul Hwang answered:
Can someone tell me if I can pick the parking space I like before close of escrow at Infinity? Has it already been assigned/deeded to each unit?
It's possible, but difficult. If you end up with a spot you don't like, just rent your spot out and I'll get you a better one to rent.

I've sold 40+ units at the ... more
0 votes Share Flag Tue Jan 5, 2010 Home Buying in SoMa
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