Since January 2012, has a 2br 2bath condo increased in value, and by how much, in the Buena Vista Park neighborhood?

Asked by guardpal-trulia, San Francisco, CA Tue Oct 9, 2012

I'm thinking about refinancing. I tried last year but the appraised value wasn't sufficient to support the loan. I do not want to pay for another unless there is good reason to believe that the values have increased.

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6
Alina Aeby, Agent, San Francisco, CA
Wed Oct 10, 2012
Looking at the MLS data, there are exactly 3(three) -2 bd condos sold from January 2012 to August 2012. The average sales price of these condos was $758,612. There is also one on the market right now, you should check it out and follow the final sales price. It's listed in mid 800k's.

There were probably more than 3 condos sold in Buena Vista/Haight Ahbury this year, but they are off MLS.

The lack of appropriate comps always makes refinancing difficult. Some appraisers may look into the MLS sales and also title/tax records sales, if they don't have enough data. However, even if the market is trending up, appraisers could be very particular about values for refinancing purposes, which could come in lower than if you decided to sell your condo. I understand why you are reluctant to start the process all over again...

I would be happy to help should you need further data.

Cheers,
Alina

Alina Aeby -Broker Associate DRE#01729889
Pacific Union International/Christie's International Real Estate
Cell: 415.744.4844
http://www.bestsfhomes.com
0 votes
Oggi Kashi, Agent, San Francisco, CA
Tue Oct 9, 2012
Values have increased in general and in most areas quite a bit since Jan 2012 however, the specifics of your property would need to be evaluated. It's best to contact your agent for a quick evaluation. If you don't have one, feel free to contact me.

Best,

Oggi Kashi
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
Web Reference:  http://www.oggikashi.com
0 votes
Kevin Ho, Agent, San Francisco, CA
Tue Oct 9, 2012
Yes, it depends on a lot of factors but average of 5 to 16+ percent. And one point is that inventory is very, very low right now. Call us realtors to learn how to maximize your position because remember if you buy a replacement property, you're going to have to pay more too.
0 votes
Gabrielle Da…, Agent, San Francisco, CA
Tue Oct 9, 2012
Call the agent you worked with when buying the condo or any other agent from this site and request a CMA. In order to get the best CMA, the agent will have to view your home. The agent will provide this service complimentary with the idea that you work with him or her in the future. Short of an appraisal, that is your best option.

Feel free to call me at 415-200-7202.
0 votes
Matt Ciganek, Agent, San Francisco, CA
Tue Oct 9, 2012
Hi-I'm a former certified appraiser and current sales agent here in SF with Barbagelata. Contact me if you'd like to discuss likely scenarios. It's on the house. (no pun intended) Without specifics, I can't give an exact or even a really good guess-timate. (Even former appraisers don't like to just throw out figures).

-Matt Ciganek
http://www.SFpropertyreport.com
Barbagelata Real Estate
0 votes
Astrid Lacit…, Agent, San Francisco, CA
Tue Oct 9, 2012
Yes, they have increased. Hard to pin a number down, however. And if you bought at the height of the market unless you have made some major improvements to your property you probably will not get your condo to appraise out.

May I suggest you contact the agent who helped you buy and get the most recent comps? I do that for my clients all the time. In addition, I usually meet the appraiser, discuss the comps. Reason for that is that I have usually seen the comps, can talk intelligently about their advantages, disadvantages compared to the property being appraised. The appraiser just sees numbers, selected photos on a page.

Astrid Lacitis
Keynote Properties
415 860 0765
0 votes
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