Great article to share from SFGate. 150th anniversary of first Market St. rail line cnolte@sfchronicle.com (Carl Nolte, Chronicle Staff Writer) The Fourth of July is famous for other reasons, but today also is the 150th anniversary of the first run of the first street railway on the Pacific Coast – a two-car steam train that [...]
more »Not quite. On Tuesday, The House of Representatives voted to extend the tax credit for three more months for those who had a contract in place prior to April 30th, 2010. The extension is to allow them enough time to close on their purchases in order to receive the $8,000 federal income tax credit. According [...]
more »It’s getting complicated! Here is a quick guide you can print and keep in the glove box for reference.
December 2009 Newsletter: Real Estate in San Francisco
It has been an interesting year in real estate, and it continues to be a very interesting time for home buyers and sellers in San Francisco. Below are a number of charts which review the city’s market from a variety of angles.
The data below is from sources deemed reliable but may contain errors or omissions, and is not warranted. Sales not reported to MLS (such as many new-development condo sales) are not reflected in these statistics.
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Sales Price to Original List Price Percentage This chart shows the average percentage of original asking price achieved upon sale when acting as listing agent. It is a truism that if the property is priced, prepared and marketed well, and the purchase contract is negotiated effectively, it will sell quickly at its highest possible price. When even a half percentage point in sales price equals thousands of dollars, Paragon agents average 5.6% above the city’s average sales-price-to-original-list-price percentage. On a $500,000 home, 5.6% equals $28,000; on a million dollar home, it equals $56,000. In this analysis, the home sales assessed are capped at $3,000,000, because at the higher end, most sales prices are confidential, which distorts the statistics. |
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Average Days-on-Market This chart shows the average number of days it takes the listing agent to secure an offer acceptable to the seller on transactions which then proceed to a successful close of escrow. Again, if a property is priced, prepared and marketed effectively, typically buyers feel a sense of urgency to act quickly — with strong, clean offers. Paragon’s average days-on-market figure as listing agent is 4 weeks below the city average. Price the property right; prepare it to show in its best possible light; market it comprehensively; sell it quicker; sell it for more money. |
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Average Sales per Agent Founded in 2004, Paragon is already consistently in the top 3 or 4 San Francisco brokerages in both dollar volume and unit sales. This chart illustrates the fact that Paragon also has the highest average number of sales per agent of any of the top 10 companies. According to the San Francisco Business Times, Paragon also closes the highest average number of sales per agent of any residential brokerage in the Bay Area with at least 100 agents. It’s not that we have more clients; it’s simply that we’re more effective at helping our clients achieve their goals in real estate. |
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Changes in Market Share Year over year, Paragon had the largest increase in market share of any of San Francisco’s largest brokerages. When the market went into a tailspin after last year’s financial markets crash, we simply kept working and stayed focused on helping our clients with the purchase and sale transactions they needed or wanted to complete, doing our best to get them the best possible price and terms. That is our fiduciary duty. |
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Characteristics of a Good Agent What does a good agent actually do for his or her client? We find that most people really don’t know. Here is a link to a list of those characteristics we believe a good agent incorporates in his or her practice. We believe it is these characteristics that lead to the best possible end result for our buyers and sellers. As the above charts make clear, if we take care of you, our market share takes care of itself. Characteristics of a Good Agent |
Friday, November 27, 2009 (SF Chronicle)
Ruling jeopardizes some affordable housing laws
Robert Selna, Chronicle Staff Writer
Housing developers in San Francisco and across the state appear to have won a major victory in the battle over whether they must provide affordable housing as part of new projects.
Late last month, the California Supreme Court declined to review and therefore let stand a lower court decision precluding the city of Los Angeles from enforcing affordable housing rules on a new apartment development. read more »
Senator Chris Dodd, D-CT, has been negotiating for several weeks with Senator Johnny Isakson, R-GA., to craft an extended tax credit for homebuyers that would pass the Senate. Last Wednesday, they announced agreement on a bill that would extend the tax credit for first-time homebuyers and offer a reduced credit of $6,500 to repeat buyers who have owned their current homes for at least five years.
The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November. read more »
Don’t worry! This is easy to read.
NAR Homebuyer Tax Credit Chart: published by the National Association of Realtors, this is a great synopsis of the latest version of the Homebuyer Tax Credit that has been approved by the government.
There is now a provision for a “homebuyer,” not just “first-time homebuyers.” As with anything, there are restrictions and limitations. Take a peek and call me with any questions.
President Obama has signed a resolution passed last Thursday by Congress extending the current limits for Fannie Mae, Freddie Mac, and Federal Housing Administration (FHA) loans through 2010.
The conforming loan limits determine the maximum size of a mortgage that Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac can buy or guarantee. Non-conforming or jumbo loans typically carry a higher mortgage interest rate than a conforming loan, increasing the monthly payment and negatively impacting affordability.
