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Home Selling in 94123 : Real Estate Advice

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  • Local Info4
  • Home Buying2
  • Home Selling5
  • Market Conditions1

Activity 5
Tue Mar 29, 2011
Jed Lane answered:
Provosaint heh? Are you a saint from Provo? I love the names people come up with on this site.

The web page you pointed out is another example of a broker buying business. What he�39;s doing so publically is done by many agents all over the country. I know so many agents who give percentages of their income to local charities. Brokerages also have programs that give back, for example Coldwell Banker nationally gives to Habitat for Humanity. We do it on the local level by having build days and we also hold fundraisers. There is a large number of agents in San Francisco that support EARN, a non-profit that teaches financial management and mathches savings $2 for $1. In fact our association supports it too.

This giving isn't used to drum up business, it isn't touted as the reason to chose one over the other. Our giving is done from a generous heart not to buy business.
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Fri Feb 18, 2011
Paul Hwang answered:
Yes, definitely do it. 100%. There is not much inventory in the Marina. I actually have several people looking to buy in the Marina right now.
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Sun Jun 7, 2009
Jed Lane answered:
Congratulation on your coming addition. Starting a family is a wonderful thing and all the happiness.

Back to real estate. If you have equity in the condo and can leverage that into a move up property this is a very good time to do that. The rates are good as stated, you will have the required down payment to meet lender requirements, the prices for homes in the suburbs are depressed and all of these factors will not line up again or last for years to come. So with the life changing event that is coming now is a very fortunate time to move.

Depending on whether or not you want to stay in the City or not is a big factor. I run my own numbers to look at the SF market and I mean inside the City not the nine Bay Area Counties. Our median price is off 12% from a year ago and has been rising now for three months. Sales volume is down 30% from May 2008 to May 2009 but it also has been rising for three months.

Can San Francisco proper buck national trends? Yes it can and probably will. While the disparity between incomes and housing price is huge, giving fewer and fewer workers the ability to buy, it reamins a vibrant world class city attracting new industries and many of the brightest and most capable of each generation. All on a peninsula that is only 49 square miles. Single family homes are no longer being built and the yet we are creating new neighborhoods with higher density and great (hopefully) services.

I agree with you that if you are going to do this sell first then with cash in hand buy. I'd like to hear from the agents in any are you would consider if purchases are happening that are contingent upon the sale of the buyers property. We still do not see this in the City at all, except when the buyer is willing to pay a premimum price.
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Sun May 3, 2009
Rebecca White answered:
Hello SF Short Sell,

You will find plenty of information at my website: www.ShortSaleSF.com

Regarding my experience, the facts are these: 9 of my 10 listings are short sales; seven are in escrow, 2 are approved.

One has been in escrow 7 months, a few 2-3 months and 2 only 2-3 weeks.

Short sales are tough and take time. Make sure you find someone who knows what she (or he) is doing. There are only a few of us in San Francisco who specialize in short sales.

Nine out of 10 offers that I receive don’t even have a Short Sale Addendum attached. Believe me, I speak with agents everyday who are writing offers on my listings—no offense to my colleagues—but very few know what they are doing. I have 2+ years experience (with short sales—30 total in real estate). The only other people whom I know besides myself who have a lot of experience with short sales are Ildiko Pali with Princeton Real Estate and Heidi Mueller with Prudential.

You are correct in that many agents will not do short sales. Most of my friends think that I am crazy for doing so. It is not as easy as other transactions but definitely gratifying. Statistically, about 70% get approved so some agents don’t like nor do short sales as there are no guarantees and the banks almost always mess with our commissions.

My advice, talk to 2-3 agents and discuss all of your options. A short sale is NOT always an option and may not be the best one.

Good luck.

Sincerely,
Rebecca
P.S. If there are two different lenders involved, it will be very difficult for someone to assist you.
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Wed Jul 9, 2008
Jackson Gates answered:
I've been looking at 2-3 bedroom places in the Marina for the past 11 months and I can tell you that prices have been flat. For the attractive units, prices have not started falling... yet... ... more
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