San Francisco is re-instating its DALP Program August 1st. DALP stands for Down Payment Assistance Loan Program. It is a mortgage assistance program unique to San Francisco that helps first-time home buyers buy houses and condos. They do this by offering a second loan on the property with no interest or monthly payment. When the buyer sells their home the principal and interest on loan is repaid with a share of the appreciation.

This is a great loan program for entry level buyers with less than 20% down. The second loan the city program provides allows buyers to avoid mortgage insurance and keeps their payments more affordable since they are only paying a monthly payment on the 1st mortgage. Many times this type of arrangement works out to have the monthly payment being less than what people are currently paying for rent.

There are some guidelines and restrictions for this program. Please visit their website for more infomation.

This program typically runs out of funding pretty quickly. If you are in the market for a home in San Francisco and would like more information on this program and how the home buying process works please give me a call.

Posted by:  Bill Wygant

Below are some market statistics I regularly use when working with clients to help us get a picture of the market in San Francisco. What is surprising about this last 6-months compared to other years is the amount of property that is selling and the attractive pricing. This 6-month period does not show the successive price drops in the past several years when the average price of a 3-bedroom home was more in the neighborhood of $1,400,000 than $1,190,000. In recent months there also have been some substantial increases in inventories in all categories and many again at very attractive prices. In the last week there has also been a nice interest rate drop and conforming 30-year loans are available well below 5% with a 20% down payment. Attractive financing and pricing as well as substantial inventories make this a great time to look for a home in San Francisco. Please call me if I can help you.

San Francisco Market Data as of Sunday June 30, 2010

Currently there are 609 Single Family Homes and 1319 Condos/TIC/Lofts listed for sale on the Multiple Listing Service in Districts 1-9 in San Francisco.

Last 180 Days:

937 Single Family Homes sold after an average of 58 days on the market.

• Average Listing Price was $1,199,382
• Average Selling Price was $1,189,344

1223 Condo/T.I.C/Loft sold after an average of 74 days on the market.

• Average Listing Price was $763,484
• Average Selling Price was $753,080

Same 180 day period 1 year ago

645 Single Family Homes sold after an average of 62 days on the market.

• Average Listing Price was $1,161,767
• Average Selling Price was $1,141,317

777 Condos/TIC/Lofts sold after an average of 76 days on the market.

• Average Listing Price was $821,168
• Average Selling Price was $853,149

The information is based on:

A 3 bedroom 2 bath home of approximately 2,000 sq ft. and a 2 bedroom 1.5 bathroom Condo of approximately 1,200 sq ft.

All data subject to ERRORS, OMISSIONS, or REVISIONS and is NOT WARRANTED. – Copyright: 2006 by San Francisco Assoc of REALTORS Copyright © 2007 Rapattoni

Posted by:  Bill Wygant

I feel so lucky to live in this wonderful, little town of Los Gatos. There are always so many fun things to do here. I know that summertime is finally upon us when we get the new listings for the summer concerts series for both “Music in the Park” and “Jazz on the Plazz.”

• Music in the Park is held every Sunday from June 20 – August 29 from 5:00 – 7:00 pm on the Los Gatos Civic Center Lawn.
• Jazz on the Plazz is held on Wednesday evenings from June 23 – August 25 from 6:30 – 8:30 pm at the Los Gatos Town Plaza.

Not only do you get to hear some really good music, it’s a great time to get together with friends and family. Bring your chairs, food and drinks and then just sit back and enjoy!

Below please find the first artists for both Music in the Park and Jazz on the Plazz as well as the links to their websites with all of the details.

June 20 (Sun.): Music in the Park – Elton John/Billy Joel tribute by Lee Alverson |  Civic Center lawn – 110 E. Main St. – 5:00 to 7:00 PM (Los Gatos Music & Arts 408-354-1155)

June 23 (Wed.): Jazz on the Plazz – Artist: Kathleen Grace | Park Plaza – Main St. and Santa Cruz Ave. - 6:30 to 8:30 pm 

Alain Pinel Realtors is a proud Gold Sponsor for Music in the Park as well as a Jazz Ensemble Sponsor for Jazz on the Plazz. Come visit our booth at Music in the Park on Sunday, July 25 and Jazz on the Plazz on Wednesday, July 14.

Take care, Jeff

Posted by:  Jeff Barnett

The most anticipated event of the year on the Monterey Peninsula has begun! The U.S. Open Golf Tournament played on the Pebble Beach Golf Links begins its Championship rounds Thursday and runs through Sunday (June 16th – June 20th ) after several days of practice rounds. It is expected that 37,000+ people will be coming to Pebble Beach every day to watch the likes of Tiger Woods, Phil Mickelson, Justin Leonard, and Tom Watson. For the golfers, winning the Open means prestige and a large cash prize. For the gallery, it means lots of fun and enjoying seeing their favorite golfers play against a backdrop of sunlit courses and crashing waves.

As Realtors we view these huge events that bring thousands of visitors to our area as an opportunity to showcase our properties for sale to prospective buyers. Many of our real estate sales on the Monterey Peninsula are to second-home buyers who live in other areas, but like to spend time here. We start planning our marketing months in advance by creating unique advertising for the print media and other innovative promotional efforts. Our Alain Pinel Carmel office came up with a unique idea to promote our sellers’ properties during the Open. Since many of the affluent golf enthusiasts arrive in private jets at Del Monte Aviation in Monterey, why not be there to greet them when they get off the plane with a gift bag full of goodies and promotional materials? For those who come into the terminal, we would provide an espresso bar and frozen yogurt bar so they could have a snack after their long flight.

For the last two days I’ve taken part in this promotional event and what great fun it has been! When a plane landed, we raced out to greet the passengers with our gift bags and invited them to enjoy our snacks. As our visitors sipped on a café latte we chatted with them about where they are from and what’s going on in real estate. Will some of our visitors be lured to find the coveted prize – a home on the Monterey Peninsula? Time will tell – in any case, they will remember Alain Pinel Realtors.

Posted by:  Susan Clark

Posted by:  Jeff Barnett

Considering that most of us have grown an extra appendage, namely some sort of smart phone, I have decided to share with you some of my favorite “apps.” Yes, that’s right…my extra appendage is an iPhone. Unless you have been living under a rock, you know that there are applications for just about everything you could want or need. You could spend hours or even days looking at all of the possible apps. Since I am in the Real Estate business, here are some related apps you might find useful (or just plain fun).

I use the Dragon Dictation iPhone app for a variety of things. You just press the red record button and speak into your phone and when you are done press the button again. What you have recorded is then on your screen in written form. You can make changes to your document if you need to. You can then send your results by text message, email or copy it to your iPhone clipboard.

Evernote takes your notes, ideas, snapshots and recordings from your iPhone and syncs them directly to your MAC or Windows desktop. A great way to stay organized!

Real Estate Headline News gives you daily updates of all of the latest Real Estate news and information.

Real Estate Investment Calculator – This app tells you what a property is worth based on its cash flow.

You can even go house hunting by phone! There are various apps out there with info on open houses, current listings, home amenities, school info and much more. Alain Pinel Realtors has a great smartphone application for any web phone. Go to www.apr.com/mobile

I’d love feedback on your favorite apps. If you need further information, please feel free to contact me.

Take care, Jeff

Posted by:  Jeff Barnett

I was reading an article the other day on this subject and thought it was worth revisiting. Of course there are some obvious things about keeping our homes safe from burglars such as always locking your doors when you leave the house and be creative when it comes to hiding the spare house key (you don’t really hide it under the front door mat, do you?).

Burglars look for homes that appear to be unoccupied so when you go on vacation have someone pick up your newspapers and mail daily. Have them move your car to different places in the driveway and put your interior and exterior lights on timers.

You don’t ever want to leave an outgoing message on your home phone message machine stating that you will be out of town. For that matter, you don’t want to shout it to the world on your Facebook page either!

Keep in mind that burglars want to get in and out as quickly as possible so you might want to think about fencing in your yard or planting low shrubs or hedges around your property to cause a barrier. Burglars know where you keep your jewelry (jewelry box, bedroom or bathroom counter, hidden in your sock drawer…) so even though it may be an inconvenience, lock up your valuables in your safe when you’re not using them. Which brings up another point; burglars also know that safes are often set to open with a half turn or an easy 123 access code for convenience sake so it’s in your best interest to use a difficult password or change it frequently.

Finally, if someone comes to the door and says they are with the phone company, for example, don’t just let them into your home, and always check their identification. Call their company for verification. The same thing goes for someone claiming to be with the police department. Get their badge number and call the station to make sure. It’s much better to be safe than sorry.

Stay safe and take care.

Jeff

Posted by: Jeff Barnett

Is it really May already? I can’t believe that in just about one month the kids will be out of school and starting their summer vacation. Even as summer approaches, if you are thinking of moving to a different school district or if your child is moving up from one school to the next, now is the time that you may want to do some research on your neighborhood schools. Some important information that you may want to look at is: the school ranking, test scores, class sizes, credentialed teachers, core academic courses and activities. If you are moving to a new area, you will also want to find out about registration requirements for the new school your child will be attending. There are plenty of places where you can get your school information. Of course my favorite is www.apr.com where an agent will be glad to help you. I have also listed a few other links for you to check out: School-ratings.com, GreatSchools.org, SchoolDigger.com. As always, if you have any questions, please feel free to contact me.

Take care,

Jeff

Posted by:  Jeff Barnett

I want the people I work with to know in writing the scope of services I’m committed to providing my clients looking for homes is San Francisco:

• Explain agency relationships in the State of California as required by state law.
• Outline the home buying process and provide a clear calendar timeline of the escrow process once your offer is accepted.
• Agree on a way of continuing our ongoing communications in a way that fits your lifestyle i.e. phone, e-mail, SMS.
• Review the costs involved in a home buying purchase.
• Using my experience help you create a picture of the property you are looking to call home.
• Provide a free home buying tool called Clean Offer that provides the most up to date information on properties available for sale in San Francisco as well as other utilities that will make your online home search more efficient.
• Make available a weekly market snapshot of San Francisco to show how home prices are trending on a city wide basis.
• Organize and coordinate property tours on your schedule whenever possible. I normally only show 5 properties at a time to allow you to absorb what you are seeing.
• Provide resources to obtain information about the area you are moving into, such as location of health studios, gyms, places to walk your dog, schools, or nearby recreational facilities.
• Help you write your offer to obtain the best possible price and terms.
• Use e-signatures and a secure transaction website for all paperwork when it meets your needs and preferences.
• Negotiate strongly for you as your representative on all offers. I present all offers to the seller if possible, something not all agents are comfortable doing.
• Read and review all documents, contracts, disclosures and inspection reports prior to asking you to sign them. Answer all of your questions about the property. In certain cases I may as a result refer you to other professionals to obtain a clear picture of the property you are purchasing.
• Schedule and attend all property inspections and appraisals.
• Monitor your loan approval process and advise you of your options.
• Accompany you on the property walk-through inspection prior to closing as provided in the contract.
• I provide all clients with a 1-year Home Warranty at close of escrow.

Posted By: Bill Wygant

Being a self described wine connoisseur and wine collector I thought I would share one of my favorite activities with you – Wine Tasting! When you think of wine tasting you generally think of Napa Valley. I am here to tell you that you don’t need to go that far for a day of wine enjoyment. Here in Los Gatos we have many wonderful local wineries. There are over a dozen to visit! Please go to LosGatosChamber.com/Wineries.html for information on the wineries, their locations, wine tasting and upcoming events.

Don’t forget the upcoming community events for this weekend:

Sierra Madre & Graham Family Vineyard Release Weekend
Date: May 1, 2010 – May 2, 2010
Time: 11:00 AM – 04:00 PM

Children’s Fantasy Fair
Date: May 1, 2010 held on the Los Gatos High School front lawn
Time: 10:00 AM – 04:00 PM

Cheers!
Jeff

Posted By: Jeff Barnett

Union Street runs east-west through the classically San Franciscan neighborhood of Cow Hollow. Rather than large chain stores, the street is full of small merchants who treat customers with the wonderful personal quality San Francisco is famous for and very familiar to people who live in the north part of the city.

Ricky Fishman has operated an integrative healing center there called ChiroMedica for over 20 years. He’s a widely regarded specialty chiropractor and has gathered around him a team of Acupuncturists, Massage Therapists and Medical Doctors all under one roof. The effect is a cutting edge personal healing practice that also reflects the intimate personal quality of the area it is located in.

Here’s just one of his Yelp reviews:

“Ricky comes highly recommended so I made an appointment and went to see him today. He’s a very skilled, informative, passionate and professional chiropractor who made my back feel better on the first visit. He asks good questions and is a very genuine guy. I recommend Ricky with enthusiasm!! Oh and a good location too.” Ally G. from San Rafael

Here’s a short YouTube Video where Ricky talks a bit about his work:

There’s some more information on him on his website too: RickyFishman.com

Here’s the google map show the location of his practice at 1700 Union St. in San Francisco.

Dr. Fishman is extending a 50% discount on an initial visit that includes a history, exam and first treatment if you mention my name, Bill Wygant, when making the appointment.

Posted By: Bill Wygant

As a longtime resident of Los Gatos, I am always amazed that there is always something new and exciting to do here. Whether you want to shop at the antique stores, dine at one of the many wonderful restaurants, walk through a museum or go wine tasting there truly is something for everybody!

Here are a few of our upcoming events:

Rivers of Chocolate 2010!
This event consists of chocolate and wine tasting, Hors d’ouevres, a silent auction and live music. The event will be held at The Mountain Winery in Saratoga, CA on April 25th from 1:00 – 5:00 pm. Tickets are $95.00 and the proceeds go to programs that benefit EHC LifeBuilders. For more information, please go to: ehclifebuilders.org/roc

A Week of Wine and Fashion in Los Gatos
This event runs from April 26th – May 1st and will be held in Downtown Los Gatos. This event includes daily luncheon fashion shows and much more. For all of the details, please go to: losgatoschamber.com

Enjoy and take care,
Jeff Barnett

Posted By: Jeff Barnett

A National Geographic article in 2006 talked about dogs in San Francisco’s Marina District having appointments with masseurs, acupuncturists, sitting on command to have their portraits taken and of course having their star charts read by their astrologers.

It was estimated that San Francisco at that time had 745,000 residents and 110,000 dogs packed into a 49 square mile area of land.

If you have just relocated to San Francisco and have a dog it is safe to say that San Francisco is still just as dog-friendly as it was in 2006. The North side of town made up of Pacific Heights, Cow Hollow and the Marina has several off-leash dog parks and dog play areas that may be of interest to you if you already have a dog, or plan on joining the crowd now that you are in town.

• Crissy Field – located at the end of Mason St in the Marina has 100 acres of walkable terrain that offers seacapes and also some unique views of this city by the bay at nearby Ft. Point.
  Note: California beach areas have some restricted access due to endangered species- click here for more information
• Mountain Lake Park – Located at 9th and Lake St.and built in 1875 by Willliam Howard Hall the architect of the Golden Gate Park, the dog walking area is located at the east end of the park. The park is home to small birds and ducks and at one time housed a white alligator someone once took for a walk there and left behind.
• Alta Plaza Park – a former rock quarry that was built in 1888. It is bordered by Clay St., Steiner, Jackson St and Scott St. and has 12 acres of dog walking area, public restrooms and is very popular with people who live in the area.
• Also located nearby, but not an off leash dog walking area is Lafayette Sq park that is popular with dog walkers. During some parts of the day in the tall Eucalyptus trees at the east end of the park you can find the famed “Parrots of Telegraph Hill” who were featured in a movie by Judy Irving, a well known San Francisco filmmaker.

On a sunny day in the Marina, Cow Hollow, or Pacific Heights you will find dog’s not only in the parks chasing frisbees, but also lounging in cafes along Union, Fillmore, or Chestnut street, because for a lot of San Franciscan’s dogs are really part of the family.

Posted By: Bill Wygant

With all of the short sales and deed in lieu of foreclosures (DIL) that are happening now, I am happy to be able to provide the following information from the Treasury Department regarding HAFA – Home Affordable Foreclosure Alternatives Program. HAFA provides incentives used to avoid foreclosures. This program went into effect April 5th, 2010. Please click on the link below for all of the details.

http://www.realtor.org/governmentaffairs/shortsales_hafa

Please contact me for more information. Take care.

Jeff

Posted By: Jeff Barnett

As an Alain Pinel Realtor I am a member of the largest network of independently owned real estate companies in the world. We have over 5,000 offices in over 44 countries. So any of my listings have a strong and powerful international network behind the sale of your home.

For instance take our internet marketing as an example. Over 91% of buyers begin their home search today on the internet. As part of my service to home sellers I offer a free Luxe-Tour video, which is a 60 second guided tour of your home distributed to YouTube the world’s largest video sharing website.

Here’s an example of the video.

I also have the ability to generate analytical reports to show you how effectively our complete internet marketing plan is working to market your property.

This is just one element of a focused marketing strategy I can employ to help you sell you home at the highest possible price today’s market will provide.

Please call me today for more information on how tools like the Luxe-Tour video can help you sell your home.

Posted By: Bill Wygant

Become a sponsor for the New Veteran’s Memorial Building in Danville, California. This will be a great resource center for not only our Valley’s Veterans but for our community. There will be many meeting rooms available for use by the community. Every donation makes a difference. Please visit their website at www.srvveteranshall.org!

Posted By: Celeste Pacelli

The town of Los Gatos is in Santa Clara County approximately 60 miles south of San Francisco. It’s a quaint little town located at the base of the Santa Cruz Mountains. Its surrounding cities are Saratoga, Campell, San Jose and Monte Sereno. It’s just minutes away from the fast paced Silicon Valley. Los Gatos is made up of wooded hillsides, residential neighborhoods, businesses, shops, restaurants, walking and biking trails, creeks and streams. It even has its own Lake!

The town is a community with a mix of ages, income levels and family sizes. It boasts a beautiful downtown with many shops and restaurants. Downtown Los Gatos is listed on the National Register of Historic Places. Because of its small town image, Los Gatos continues to be a favorite of community members as well as visitors.

The month of April is Keep Los Gatos Beautiful Month: www.losgatosca.gov/keeplosgatosbeautiful

For more information, please contact me. Take care.
Jeff Barnett

Posted By: Jeff Barnett

The annual Easter parade festivities along Union St. will begin at 10 am on April 4th. The parade begins at 2 pm along Union St. between Gough and Fillmore. Besides the parade there will be live music, a petting zoo, outdoor dining, pony rides, vintage cars on display between 10 am and 4 pm. Awards for the best hat will be given out at 3:30 pm.

Many merchants along Union St. have special promotions during this time of year:

Jest Jewels – 1869 Union St., 415-563-8839: 30-70% off selected items. They sell an eclectic mix of jewlery and accessories. The Union St. store is one of 3 stores the owner Elenor Carpenter operates.

Lucy Active Wear – 1974 Union St, 415-292-6274: 30-50% off selected items. Lucy’s sells active wear that make women feel good about themselves while exercising. The store also offers FREE yoga classes the first Friday of every month.

Fog City Leather – 2060 Union St, 415-567-1996: 20-50% off selected items. Fog City sells handmade leather jackets. Many of the coats and leather accessories are made by Peter the owner in his Union St. store. Very unique products that can be personally tailored to the customer.

Bar None – 1980 Union St, 415-409-4469: on Thursday’s $2 Coronas and $1 Sliders. This is one of San Francisco’s world famous watering holes.

Posted By: Bill Wygant

Hot off the presses. Governor Schwarzenegger has signed new legislation for a new tax credit for California residents. Please spread to the word to anyone you know who could benefit from up to a $10,000 Tax Credit on their California State Taxes.

The credit is for up to $10,000 and is for both new AND existing homes. The California credit takes over May 1 right after the Federal Credit expires on April 30.

It’s similar to the state credit from last year but the budget has been doubled to $200,000,000. Last year’s budget of $100,000,000 was used up 8 months before its expiration so buyers should hurry and buy their home before the entire $200 Million is used up.

Click here for full details.

Posted By: Bill Wygant

This morning I was talking with Jennifer Marshall from First Capital Group Inc and she mentioned that the HARP (Home Affordable Refinance Program) had been extended until June 2011. Jennifer has used this program successfully over the last year to lower the interest rate for homeowners who have less than 20% equity in their property and subsequently unable to refinance their home loan. The HARP program is part of the Stimulus Recovery package and it allows a homeowner to refinance their loan up to 125% of the appraised value IF the current loan is a Fannie Mae, or Freddie Mac loan. Without this program homeowners were left with few options, most of which could lead to foreclosure and loss of their home. If you want to know if your loan is owned by Freddie, or Fannie, please call me 415-593-8622 and I can show you how to look it up.

Posted By: Bill Wygant

While shopping at the Marina Safeway near my home I talked with a recruiter for the U.S. Census Bureau looking for people to help with the 2010 Census. They had hoped to have 300 people signed up by the end of March. Currently they have only 30 people from the Pacific Heights area of San Francisco signed up to take these jobs that pay between $22-$25 an hour.

The census is of course essential to determine how federal monies are spent for many things that matter most to people including:

• Health Care
• Education
• Jobs
• Home ownership
• Community Safety
• Community Services
• Aid for children and seniors

So it is important that San Francisco be fully and accurately represented in the 2010 census. Perhaps if census taking is not your cup of tea you could pass this information along to someone else?

You can get more information at www.2010censusjobs.com or the toll-free hotline 1-866-861-2010.

Posted By: Bill Wygant

I recently returned from a meeting at our local MLS where I attended a very exciting demonstration of a product from our National Association of Realtors called Realtor Property Resource. We are the first MLS in the country to be able to beta test this new product which is for Realtors only. It is a software program which allows the Realtor to pull any property address in the United States for their clients. By doing so, they will get an automatic evaluation of what the property is valued at.

Agents can also use Realtor Property Resource to pull reports, comparable sales, property and tax records, school scores and much more. This is such a valuable tool for Realtors because it allows them to share their search results with clients.

Silicon Valley will be the first to roll out this program in the next 120 days. I will keep you updated as this proceeds. For more information, please call me.

Take care,
Jeff

Posted By: Jeff Barnett

(click for full size flyer)

You’re invited to attend an informative seminar regarding options! The objective of the seminar is to “get ahead” of the situation so that you can control what occurs. Tim Joyce and Celeste Pacelli of Alain Pinel Realtors will be presenting material relating to the foreclosure process and short sales. Both Tim and Celeste are certified as short sales specialists by the National Association of Realtors.

Don’t miss this opportunity to hear from one of your lender’s authorities.

Sponsored by the Pacelli/Joyce team of Alain Pinel Realtors

When: Tuesday, March 23rd or Wednesday, March 31st

Time: 5:30pm to 7:00pm

Where: Danville Community Center, 420 Front Street, Danville, Ca.

To register, click the desired date below:

3.23.10 event

3.31.10 event

For further information, contact me at celeste@apr.com or 925.395.1511.

Posted By: Celeste Pacelli

I just returned from San Diego where I attended the National Association of Realtors Issues conference. The conference is an excellent way for Realtors to share and exchange ideas, examine market trends and cultivate relationships with Congressional leaders.

On the agenda were discussions about the top ten legislative priorities for 2010:

1. Mortgage Interest Deductions
2. The future of Freddie Mac/Fannie Mae and other GSA
3. Short Sales
4. Commercial Real Estate
5. Eminent Domain
6. National Flood Insurance
7. Small Business Health Coverage
8. Depreciation – Tenant Improvements
9. Wetlands/Clean Water Act
10. Transportation Reauthorization

The National Association of Realtors (NAR) volunteer leaders are given the opportunity to work with congressional leaders, their staff, and congressional political and policy experts. They are working together to try and make a difference on key federal issues affecting the real estate industry and the consumers it serves.

At this three day conference we covered a lot of issues and had a variety of speakers. My favorite speakers were Senator Johnny Isakson from Georgia, who is also a Realtor, and The Honorable Gary Miller – US Representative from California. They both spoke about the abysmal mess of the political system in Washington. Very interesting!

As a political contributor for NAR, I am fortunate to be able to attend these very informational meetings and I look forward to bringing you updates as I get them. As always, please feel free to contact me for more information on anything I’ve discussed.

Posted By: Jeff Barnett

HouseLogic.com – A Homeowners free source of information and tools supplied by the National Association of Realtor’s.

I wanted to share a great website that the National Association of Realtors has supplied to you, the homeowner. It is HouseLogic.com. HouseLogic is a free source of information and tools that can help you increase and protect the value of your home.

You will start by creating an account tailored specifically to you and your home. Once you sign into your account you can: plan and organize home projects, create “to do” lists and reminders, save important articles and information as well as set goals and measure your progress.

HouseLogic also provides information on such things as home maintenance, improvements, tax information, green remodeling, financing and insurance.

You will also receive continually updated relevant news about: the housing market, community, home energy, and much more. It’s a great way to protect the value of your home so log onto HouseLogic.com today.

Posted By: Jeff Barnett

Have you made a New Year’s resolution to try a healthier lifestyle in the new year? How are you doing so far? Perhaps you should consider moving to an area that promotes a healthy way of living – and makes it easy and convenient. In a previous blog entry, I extolled the virtues of the Brookdale/Quail area of Carmel Valley. Not only is this incredible area just 5 minutes from the coast, it boasts numerous ways to lead a robust life.

• Eat healthy. Close by is Earthbound Farm where you can buy farm fresh organic salads, fruits, and vegetables. They also have many educational programs to promote wholesome eating.

• Exercise and stay fit. Down the road is Carmel Valley Athletic Club (CVAC) where you can play tennis, swim, work-out, and take advantage of the many fitness classes from Yoga to Zumba.

• Golf. Numerous golf courses are close by such as Quail Golf Club, Carmel Valley Ranch and Rancho Canada. Golf provides “mental” exercise as well as physical.

• Hiking and Horseback riding. Experience the miles of hiking and horseback riding trails in the 4500-acre Garland Park. Not only will you get great exercise; you’ll enjoy the great outdoors!

Ok, convinced? There are many lovely homes for sale in this area that could provide you with a lively setting for your new vigorous lifestyle. Let me suggest one. Situated on an acre, 6435 Brookdale is a bright, light 4BR/2.5BA U-shaped home with an extensive outdoor patio and a huge flat backyard. The living room and family room both offer fireplaces for a relaxing evening after a day of exercise. Off one of the guest rooms, there is a private patio with a hot tub – just in case you need to soak sore muscles at the day’s end and the remodeled kitchen is perfect for creating those hearty and healthy meals. The list price is $1,195,000. Click on this link to tour the home: 6435Brookdale.com. To tour in person, call me for an appointment or come by the Open House on Sunday, February 21 between 1:00 – 4:00pm. You’re going to love it!

Posted By: Susan Clark

Don’t miss an excellent opportunity to learn more about the process of short sales and foreclosures. There are many options available to homeowners that may not be widely known. This is a chance to hear industry experts speak about what’s happening with foreclosures and short sales in Contra Costa County. For starters, we know that when most people get behind in their mortgage payments, they expect things to improve and don’t tend to get proactive with their bank. The time to get proactive is immediately! Additionally, there are strategies for selling distressed properties as well as strategies for buying distressed properties. Come learn the best way to approach this end of the real estate market.

Date: February 25, 2010

Time: 5:30 to 7:00pm

Location: Round Hill Country Club

Cost: $10.00

RSVP Today!

Posted By: Celeste Pacelli

I wanted to let you know that Alain Pinel Realtors is now offering a complete online open house website. Visit our user friendly website at Open.APR.com and get information on properties, agents, communities and more!

Posted By: Jeff Barnett

Don’t miss the Recreation Expo 2010 held on Saturday, February 20th.

Hours: 11am to 2pm
Location: Danville Community Center, 420 Front Street
Telephone for further information: 925.314.3400
Website: www.ci.danville.ca.us

This is an event you don’t want to miss as this will be your opportunity to hear about summer camps, aquatic programs, a new Daycation for adults, facilities for birthday parties and weddings, plans for the New Veterans Memorial Building, and events being held at the Village Theatre Art Gallery.

The first 150 guests will receive a free Town of Danville tote bag. Also 10% discounts will be offered on summer camp registration for some programs.

An opportunity to enjoy some treats from local restaurants that you don’t want to miss!

Posted By: Celeste Pacelli

The “Crosby Clambake”, a small tournament for Bing and his friends, has transformed into an incredible event that never fails to bring thousands of visitors to the Monterey Peninsula in early February. The Monterey Peninsula Foundation, the organization that puts on the tournament, expects 150,000 – 200,000 attendees and hopes to raise $7 million for local charities. Practice rounds began in the beginning of the week, and on Wednesday the “Birdies for Charity Shoot-out” took place. Thursday is the first day of play and the final round takes place on Sunday. What draws such a large gallery? Golf enthusiasts not only like to watch great golf, but also like to ogle the celebrities that participate from the worlds of sports, music, and the big screen. The likes of Michael Bolton, Tom Brady, Kenny G, Andy Garcia, Chris Berman, Tony Romo, Don Cheadle, Chris O’Donnell, and Vince Gill will be on the course and ready to sign autographs. Also playing, comedians George Lopez and Bill Murray will keep the gallery in stitches with their antics. I remember one year, Bill Murray was horsing around with a spectator and the poor woman fell into a sand trap!

There are two things that the players and commentators are raving about this year. First is the great weather! It’s clear and sunny and perfect for enjoying the great outdoors and the tremendous ocean views. Since the event takes place in February, some years the winter storms get the best of the tournament. Last year on Sunday a blustery storm ended play and toppled a 40-foot Monterey pine tree on the 3rd hole of Pebble Beach shortening the tournament to 54 holes. Secondly, instead of Poppy Hills Golf Course as was custom in previous years, the newly redesigned Monterey Peninsula Country Club Shore Course is one of the three courses played in the tournament (the other courses are Spyglass Hill and Pebble Beach). Pictured is the author on one of the par 3 holes on the Shore Course. The participants that are playing on the MPCC Shore course today are ecstatic and in awe of the incredible ocean views from almost every hole. The course follows along the shoreline in Pebble Beach offering breath-taking ocean views and white surf crashing on the rocks. There is no place like the Monterey Peninsula to showcase Mother Nature’s gifts!

It’s not too late, come on down to the Monterey Peninsula! If you do, you’ll leave here with delightful memories of inspiring golf, crashing sunlit waves, and beautiful clear blue skies.

Posted By: Susan Clark

It’s important to take time to understand your real estate assessments, your property tax bill, and most importantly, whether or not you are paying too much in taxes. A large amount of revenue that is raised for your local schools, libraries and hospitals, etc. comes from you – the homeowner – and the property taxes that you pay. When real estate values decline, your local government gets less money from property taxes. That said, you’ll want to keep a close eye on your tax assessment letter for any potential discrepancies or mistakes. Your tax assessment letter will show what your local government thinks your property is worth. Your assessor will normally use one of two methods to figure out that amount. The method most commonly used is that from comparable home sales in your area. If there aren’t recent comparable sales the assessor will calculate how much it would cost to rebuild your home and add that price to your land value. With so much ground to cover, many assessors rely on formulas that assess neighborhoods or streets instead of one house at a time. So read your real estate assessment letter carefully and challenge it if the amount seems too high!

You’ll also want to see if you qualify for any property tax exemptions, as this could alter your tax bill. Whether you contest your tax bill or qualify for an exemption, you could save some money. For more information you should go online or call your local tax assessor’s office or your CPA.

Posted By: Jeff Barnett

The easiest OPEN HOME guide around! No need to log onto any other site for your local open houses than our new website open.apr.com. Alain Pinel is one of the leading real estate firms in the Bay Area and as a market leader we have developed a one stop shopping Open Home Guide. This includes all open homes, not just from our firm. No need to look any further than the new Alain Pinel guide. Alain Pinel prides itself on their technology tools and this is just one more example of the dedication of our firm in helping all new, prospective and current homeowners.

Posted By: Celeste Pacelli

While I was holding my listing open on San Marcos Road, a neighbor stopped in and whispered to me “Carmel Woods is our hidden secret.” After many showings and numerous Open Houses at this property, I have to agree. Removed from the tourist frenzy of Carmel-by-the-Sea, but just a few blocks from town, this peaceful neighborhood is a treasure. Residents meander through their winding wooded streets taking their daily constitutional waving to their neighbors as they go by. Homeowners “in the Woods” enjoy a rare intimacy with their fellow residents unknown in some of the other areas.

Carmel Woods is located just north of the village of Carmel and includes many lovely homes situated on forested lots – some having ocean views. Good values are to be had by the savvy buyer, since these homes normally sell for less than they would if they were located right in town. For instance, my listing at 24447 San Marcos recently sold for $755,000 and was a lovely 2BR/2BA home on an over-sized corner lot. If you are looking for a Carmel home, consider Carmel Woods as a great alternative to some of the more expensive neighborhoods. I think you’ll be delighted!

Posted By: Susan Clark

When we think about the economy and job loss of 2009, it’s hard to believe that in Santa Clara County we experienced a 44% rise in home sales in December.

2009 was the busiest year for real estate sales since 2006. The year also showed an increase in the median sales price which went up 15% from Dec. 2008. One of the main reasons for the increases is that the high-end home sales in 2009 exceeded those of 2008. Also, in Santa Clara County, 14% of homes sold were for buyers of vacation and second homes, or investors. The federal tax credit for first time home buyers was also a good incentive to buy. This tax credit has been extended until April 2010!

I am hopeful that 2010 will be another good year for the real estate industry. Please contact me for any other information.

Posted By: Jeff Barnett

I’d like to start the new year off with some information about possible property tax exemptions as well as some local community information for Los Gatos, CA.

Posted By: Jeff Barnett

Jeff gives some information as to why foreign buyers are buying real estate here in the US. He also talks about the existing home buyer and new home buyer tax credit and about how now is a great time to buy real estate. Jeff also gives an update on the Los Gatos community holiday events.

Posted By: Jeff Barnett

The 3rd quarter of this year showed that more than 70% of homes sold were considered to be affordable and therefore now is a good time to buy. The affordability of homes along with the $8000 home buyer tax credit helped to drive many home buyers into the market last quarter.

The President and Congress extended the original Nov. 30 deadline for the Federal tax credit which will continue to help stimulate the housing market. As reported by the National Association of Home Builders, a typical American family with the average median income could afford to buy 70.1% of all the homes sold in the U.S. during the 3rd quarter of this year which is quite a leap from the 56.1% in the third quarter of 2008.

So with the extension of the “new home buyer” tax credit of $8000 along with the $6500 “existing home buyer” tax credit, the outlook for continued affordability of homes is looking good. Now is the time to buy!

Posted By: Jeff Barnett

Los Gatos Alain Pinel Regional Manager, Jeff Barnett giving an update on the rise of the median home prices in Santa Clara County and the San Francisco Bay area. Jeff shares some Los Gatos community and holiday event information.

Posted By: Jeff Barnett

There are many wonderful neighborhoods in Carmel Valley and the “Brookdale area” close to the world renowned Quail Lodge and Golf Course is one of the most-desired. It’s just five minutes from Hwy One but far enough from the Coast to have warm sunshine in the summertime instead of the coastal fog. The weather is ideal for outdoor living so whatever your passion may be … golf, tennis, swimming, hiking, horseback riding, or walking on the beach – it’s close by.

There are numerous golf courses (Quail, Rancho Canada, Carmel Valley Ranch) to choose from within a few miles and the nearby Carmel Valley Athletic Club (CVAC) offers swimming, tennis, fitness training and classes.

Just across Carmel Valley Road is September Ranch where you can board your horse and ride on beautiful valley trails for miles. Garland Park is a treasure also with miles of trails for hikers, equestrians, and even bird watchers! The white sands of Carmel Beach are a few minutes away and if you travel south a few miles you’ll experience the phenomenal Point Lobos.

The Brookdale area is served by the Carmel Unified School District. The elementary children go to the highly regarded River School in Carmel, then to Carmel Middle School and High School. There are also very fine private schools not far from this neighborhood such as All Saints and Junipero Serra School. All of these attributes are great, but when you talk to the residents who live here the number one thing they find so desirable is that it is a “real neighborhood” with caring neighbors who look out for each other. Not always easy to find these days. If you’d like to consider living in this fabulous area, give me a call (831-320-6801); I have just the home for you!

Posted By: Susan Clark

Saturday, November 14, 2009 1:00-4:00pm

Why do so many people want to live in Carmel Valley? Come see for yourself this Saturday when Alain Pinel Realtors will have ten Carmel Valley listings priced from $799,000 – $3,800,000 open from 1:00-4:00pm. I currently have several listings in Carmel Valley and am often speaking to prospective buyers who are looking in the area. Everyone has their specific reasons for wanting to be there and nowhere else on the Monterey Peninsula. After digesting their thoughts and having a few of my own, this is what I think Carmel Valley has to offer. I will elaborate on each point in future articles. If there are other great reasons to live in Carmel Valley I haven’t mentioned, I would love to hear your thoughts.

Top Ten Reasons for Living in Carmel Valley
1. Incredible views!
2. Warmth and sunshine
3. Land – lots of land!
4. Golf
5. Great schools
6. Horseback riding
7. Tennis anyone?
8. Hiking, Biking, and … swimming!
9. Rural environment
10. “The Best of Two Worlds”

Come see the fabulous properties we have open. Call me for more information 831-320-6801 or see our ad in the Monterey Herald Friday Real Estate section. Pictured are two of the properties being held open on Saturday. In the much-desired Brookdale area just five minutes from Carmel is 6435 Brookdale Dr. listed at $1,195,000; www.6435Brookdale.com. Closer to Carmel Valley Village a fantastic view property on 11+ acres at 310 Country Club Hgts. listed at $1,895,000; www.310CountryClubHgts.com.

Posted By: Susan Clark

Just one year ago, in the midst of the financial crisis, it would have been highly implausible for most of us to imagine that we would be in an extremely hot residential real estate market today. But that’s exactly where we are, with multiple offers and overbids being the rule rather than the exception. Today’s lower prices, historically low interest rates, higher conforming loan limits, FHA loan availability, and the recently extended and expanded home buyer tax credits are giving the housing market a huge boost. Buyers have clearly recognized this period as the single best home buying opportunity in a generation – and are jumping in with both feet!

Posted By: James Sherman

As we approach the holiday season, I’m glad to be able to share this good news with you. With the best showing in the past two years, the U.S. economy grew 3.5% in the third quarter. Consumer spending on big-ticket goods rose at an annualized rate of 22.3% in the 3rd quarter as well. With the largest jump since 1986, spending on housing developments rose at an annualized pace of 23.4% nationwide!

The outlook is positive for Real Estate:
• According to the National Association of Realtors (NAR), sales activity is at the highest level in over two years.
• Existing home sales jumped 9.4 % by October.
• According to Lawrence Yun, Chief Economist, NAR, housing supply is the lowest it’s been in two and a half years.

On a local level, inventory is low and buyers are active. As buyers absorb the inventory, home prices are predicted to rise in the first and second quarters of 2010. I’m also seeing some multiple offers for properties that are well-priced. High end properties are still moving slowly. Now may be the time to act. Give me a call with any questions.

Enjoy your Holiday Season!

Posted By: Jeff Barnett

As a result of the number of my transactions I seem to be on everyone’s e-mail list for flyers and notices of status changes of properties in San Francisco. I began to think about what I could be doing with this flow of information and how it might work for my clients and others. Recently I began experimenting with forwarding price reductions of properties to my Twitter account. These price-tweets provide a quick, easy way to be notified of recent trends in the market. In fact I’ve begun encouraging agents to send this type of information to me to be forwarded as tweets. If you would like to receive this type of updated San Francisco price information you’re welcome to follow on my account billwygant at Twitter.

Posted By: Bill Wygant

Although a little windy it’s a beautiful day here in San Francisco.

Charlene Attard (415-608-8585 caattard@aol.com), on of our agents just finished giving our Alain Pinel office a tour of the Albion Castle, a very unique part of San Francisco. It was fun! How often do you get to tour a castle? With Parking!

Located at 881 Innes Drive in the Bayview section of the city, the Albion Castle is built over a natural spring that provides 200 gallons of fresh water daily. The property sits over several underground caves containing reservoirs. The quality of the spring water is pure enough that from 1895-1917 the Albion Ale and Porter company produced beer and ale and for a time also served as an early bed and breakfast inn.

Today the property, which is priced at $2.9 million waits for a new owner with a vision of what a very cool property could be. The access into the area on Evans Boulevard would certainly support tourist traffic coming for tours, or to sample a revitalized micro-brewery. A destination brew-pub, or B&B Inn might fit in well with future plans for a revitalized Candlestick.

Although Charlene has no plans to hold an open house, the underground caves would be a great place to tour on Halloween.

(Here’s a picture of Charlene with Tim Murray Vice-President and Regional Manager for Alain Pinel at the front of Albion Castle.)

Posted By: Bill Wygant

This week several areas of San Francisco real estate show relative gains in price and number of sales as compared to a year ago at the same time.

More Single Family Homes were sold this month and only at slightly lower prices. The San Francisco market saw increased Condo/TIC/Loft sales at about a 15% price discount. 2-4 unit sales also showed an increase in the number of sales and at a 15% gain compared year to year.

The one constant remains that days on market are faily long, mostly due to a more rigorous environment for obtaining financing.

San Francisco Market Data as of Sunday October 25, 2009

Currently there are 567 Single Family Homes, 1207 Condos/TIC/Lofts and 241 2-4-unit buildings listed for sale on the Multiple Listing Service in Districts 1-9 in San Francisco.

Last 30 Days:

225 Single Family Homes sold after an average of 56 days on the market.

• Average Listing Price was $1,104,332
• Average Selling Price was $1,158,747

283 Condo/T.I.C/Loft sold after an average of 84 days on the market.

• Average Listing Price was $731,285
• Average Selling Price was $727,276

48 2-4 Unit Buildings sold after an average of 88 days on the market

• Average Listing Price was $1,415,556
• Average Selling Price was $1,508,690

Same 30 day period 1 year ago:

135 Single Family Homes sold after an average of 48 days on the market.

• Average Listing Price was $1,151,614
• Average Selling Price was $1,164,114

182 Condos/TIC/Lofts sold after an average of 60 days on the market.

• Average Listing Price was $862,780
• Average Selling Price was $854,841

27 2-4 Unit Buildings sold after an average of 66 days on the market

• Average Listing Price was $1,307,111
• Average Selling Price was $1,307,926

The information is based on:
A 3 bedroom 2 bath home of approximately 1817 sq ft., a 2 bedroom 1.5 bathroom Condo of approximately 1,249 sq ft. and a 2-4 unit building of approximately 3,133 sq ft.

· All data subject to ERRORS, OMISSIONS, or REVISIONS and is NOT WARRANTED. – Copyright: 2006 by San Francisco Assoc of REALTORS Copyright ©2007 Rapattoni

Posted by: Bill Wygant

Five minutes ago San Francisco Supervisor Bevan Duffy introduced a motion before the City Council seeking to lift the moratorium on restaurants along 24th St. The motion now heads into a committee process and from there goes to City Planning and if approved would come back to the Council in 2-3 months for final approval. People in Supervisor Duffy’s office felt that his motion had a good chance of final approval and were looking forward to additional restaurant permits being issued along this vibrant corridor in Noe Valley.

Posted by:Bill Wygant

Yesterday I met Lou Waddell, a very talented LEED certified AIA architect waddellarchitecture.com at Starbuck’s for coffee and we ended up talking about sustainable and Green type housing.

The idea of building LEEDS certified Single Family Homes is attractive to me because you are working with existing inventory and not tearing the whole house down and rebuilding it, which defeats the sustainable environmentally friendly aspect of Green housing.

My idea was to put a review process on some of the San Francisco’s larger employers and come out with a mortgage profile of a younger employee that is about to start a family that yields the purchase price of a house for them would be. Then select an existing property, perhaps a bank foreclosure or distressed property along BART extensions that could be remodeled and LEEDS certified. My thoughts are generally centered on 2-bedroom 1 bath homes with a small yard for a garden. I’m wondering if there would even be some community money available, or special loan programs, since these homes would in a sense be anchoring these employees of the area’s larger employers into the community. Perhaps it’s time to bring into the picture the idea of “Barn Raising” events to help neighbors as communities have done in the past?

Once we had the price and the design we would then look for investors to fund each remodel and then market them not only to the general public but through the firms that shaped the vision in the first place.

Basically what we ended up with after our discussion on our Starbuck’s paper napkin (made out of recycled paper) was a picture of an environmentally friendly, affordable house for people in decent jobs in the larger corporations in the city. We also had a series of maybe’s for future discussion.

• Maybe the entire transaction would itself have to be paperless using electronic signatures and a secure transaction website to be in sync with the ethical considerations of the design.

• Maybe the energy design for the home would put power back into the grid.

• Maybe the backyard has a greenhouse to grow vegetables, a compost pile that is easy to maintain.

• Maybe the garage has hookups for electrically recharging an automobile from storage batteries attached to a windmill.

• Maybe the financing comes from investment funds whose ethics are also in line with sustainability.

• Maybe one bedroom is designed to that during the day it can be transformed quickly into an office for the worker that does not have to go to the office every day.

• Maybe there is an income unit attached that allowed the owner to purchase the property using their self-directed IRA and fund a portion of their retirement portfolio off of renting their income unit out.

• Perhaps the private investment model could itself be turned into a regenerating fund that finances future Green housing.

The ultimate goal both Lou and I seemed to agree would be to form a team that designs a LEEDS certified affordable housing stream connecting workers to their place of employment using presently available public transportation….of course everyone in the group would have to ride bicycles to the meetings.

We ended our discussion when Lou mentioned he had to leave to get ready for his daughter’s 2nd birthday, showing me that somethings are always more important than saving the world from itself.

Posted By: Bill Wygant

I just came out of an Alain Pinel group meeting with Leslie Appleton Young, the Chief Economist for the California Association of Realtors. She is one person who makes real estate financial data available, and understandable with clear explanations. In fact, you can test this out for yourself if you go to www.car.org and look at the information and reports under the Economics tab in the upper left corner of the page.

One of the things that left an impression on me about the state of the California Real Estate Market is that our recovery is actually segmented along price points in the market.

Consider:

• Sales of lower priced properties hit bottom in the last quarter of 2007 and in this sector of the market there are now very decent successive quarterly price increases.
• This has resulted in upward price pressure being placed on the bottom of the market as foreclosure properties are sold off in many areas with multiple offers.
• Because of the way the government has handled how properties are foreclosed upon additional foreclosures continuing into 2010 will be spread out over a longer time line which will help this segment of the market continue to stabilize.

However:

• The surprising fact is that in the middle to higher price ranges, the actual declines in many areas in those price ranges may not be over. In fact in this segment, a recent survey found that 8 out of 10 buyers reported difficulty in obtaining financing to purchase their property.
• Despite the difficulty in obtaining financing, home buyers are taking advantage of falling home prices and buying bigger homes at some of the lowest prices per sq ft the industry had seen since 2007.

For me, the conclusion is that for first time home buyers there has been an vast improvement in the affordability of homes at attractive interest rates. But for some higher priced segments of the market, the downward push on pricing may not yet be over.

Posted By: Bill Wygant

This last week I was working with a client getting ready to sell his large condo in Pacific Heights. Due to his particular tax situation he needs to have it close after the first of the year in 2010. Since he has no immediate time pressure to sell he was interested in what type of market indicators he could use to determine the optimal time to sell his condo. Would it be seasonal? Or when prices show an upward trend? Or he asked what would I as his agent, suggest? He knew that in other parts of California home sales were increasing. However I told him a lot of that type of data does not reflect very accurately the home sales activity in a high value area of town like Pacific Heights. Indeed in the past year there have been several months where there were no sales of condominiums in his price range in the north part of town. Most of the lack of sales activity appears to be due to the lack of available jumbo-loan financing. In fact most of the slowing in sales activity in the $1,500,000 to $2,000,000 price range all over San Francisco may be due to banks tightening underwriting standards for jumbo loans (+$729,750) and fewer banks making those kinds of loans. This is important to a seller in San Francisco where according to the California Assn of Realtors 41% of the property sales here required jumbo loans since it means that fewer buyers are qualified to purchase their higher value properties.

So I spent several hours thinking about his particular situation and the San Francisco market. And what I came up with was that if he was set on trying to time the market, which is not a very reliable strategy, and to answer his direct question, he should wait until we have several weeks of declining Days On Market figures in his property’s price range as shown on a city wide basis. I felt that of all the indicators I track on a weekly basis, the Days on Market are the most susceptible to being affected by the ability of a buyer to obtain a loan. When that number begins to decrease it will mean that more money is becoming available, or lending standards have been loosened for jumbo loans and a greater number of buyers will be able to purchase his property. I felt The Days On Market indicator would actually precede increasing sales prices or decreasing levels of inventory and using it as a market timing indicator would put his property on the market when there is an increasing supply of money for loans available and yet lower inventory to compete against for a sale. I actually have no idea if I’m technically correct, but since he has some time available anyway, he and I are watching the situation for a few weeks to see if we can develop any additional correlation as a way to add to his market knowledge. If you have other thoughts on the subject, I’d love to hear from you. You can email me at bwygant@apr.com.

San Francisco Market Data as of Sunday September 20, 2009

Currently there are 598 Single Family Homes, 1153 Condos/TIC/Lofts and 251 2-4-unit buildings listed for sale on the Multiple Listing Service in Districts 1-9 in San Francisco.

Last 30 Days:

182 Single Family Homes sold after an average of 55 days on the market

• Average Listing Price was $1,084,222
• Average Selling Price was $1,106,666

244 Condo/T.I.C/Loft sold after an average of 78 days on the market

• Average Listing Price was $805,492
• Average Selling Price was $827,817

41 2-4 Unit Buildings sold after an average of 82 days on the market

• Average Listing Price was $1,158,688
• Average Selling Price was $1,181,492

Same 30 day period 1 year ago

147 Single Family Homes sold after an average of 44 days on the market

• Average Listing Price was $1,217,269
• Average Selling Price was $1,221,873

195 Condos/TIC/Lofts sold after an average of 72 days on the market

• Average Listing Price was $803,165
• Average Selling Price was $781,123

36 2-4 Unit Buildings sold after an average of 71 days on the market

• Average Listing Price was $1,334,717
• Average Selling Price was $1,344,861

The information is based on:
A 3 bedroom 2 bath home of approximately 1795 sq ft., a 2 bedroom 1.5 bathroom Condo of approximately 1,306 sq ft. and a 2-4 unit building of approximately 3206 sq ft.

All data subject to ERRORS, OMISSIONS, or REVISIONS and is NOT WARRANTED. – Copyright: 2006 by San Francisco Assoc of REALTORS Copyright ©2007 Rapattoni

Posted By: Bill Wygant

For over a year I’ve kept my eye on a 4-unit building in the Mission District of San Francisco. It is located on a small street between two vibrant corridors of the area, Valencia St and Guerrero St. The present owner has always used a property management company, the rents for the one-bedroom apartments are near market-rate and the building is well maintained.

Several days ago the price dropped $175,000 to $875,000. This is a great buy! For one thing, one-bedroom units are great rentals for an investor because there is turnover in tenants, which in San Francisco with its rent control laws means that the property can produce an adequate return for someone to be able to buy and maintain the property properly. It is also located in an area of town in which people are looking for places to rent.

If an individual or partners put 30% down the monthly payment is $4,776. The building is producing $5,600 a month in income. The GRM for the property is 13, most smaller buildings in this area of town sell at GRMs below 14.

This will make a great initial investment for a real estate investor, or real estate investment partnership. Please call me if you would like more information.

Posted By: Bill Wygant