Lisa Thompson

From CAR: “On Monday, the legislature passed AB 183 (Caballero & Ashburn) which would provide $200 million for homebuyer tax credits. The Governor is expected to sign AB 183 into law before the end of the week. C.A.R. supported this important legislation.
AB 183, formerly SB 4 of the sixth extraordinary session (Ashburn), is part of a package of four bills, passed at the request of the Governor, designed to help stimulate the economy and create jobs.  The bill allocates $100 million for qualified first time home buyers of existing homes and $100 million for purchasers of new, or previously unoccupied, homes. The eligible taxpayer who closes escrow on a qualified principal residence between May 1, 2010 and December, 31, 2010, or who closes escrow on a qualified principal residence on and after December 31, 2010 and before August 1, 2011, pursuant to an enforceable contract executed on or before December 31, 2010, will be able to take the allowed tax credit. This credit is equal to the lesser of 5% of the purchase price or $10,000, taken in equal installments over three consecutive years. Under AB 183 purchasers will be required to live in the home as their principal residence for at least two years or forfeit the credit (i.e. repay it to the state).”

The Chronicle reported that the Governor had already signed the bill.  Continue reading for more information and clarification from CAR & SFAR.

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Satisfy your longing for modern simplicity and stylish living. The Artani’s central San Francisco condo community features a contemporary exterior of stone and the maximum amount of glass allowed under city codes. The building is situated just steps away from the Civic Center, with easy access to Marin, East Bay and South Bay. Homes are light and spacious with highly functional floor plans and generous storage. Common and private roof decks overlook most of San Francisco including the Transamerica building and Twin Peaks. Each condo includes hardwood floors, first-rate appliances and high-end finishes. The Artani San Francisco is approved for FHA financing.

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Upcoming listings:

$2,199,000 //Pacific Heights // BR/BA: 3/2 PKG: 2 Brief Description: Gracious Victorian home, formal dining room w/fireplace, chef’s kitchen, large landscaped yard, sun power solar panel system, & ample storage Property Website (if any): www.2344California.com

$749,000 //Eureka Valley // BR/BA: 2/1 PKG: 1 Brief Description: Very livable 1940s condominium just across from Kite Hill. Large deeded private deck and well cared for backyard. FIRST OPEN will be Saturday March 13th

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We live in a constant storm of analysis and opinion as to what is happening and will happen in real estate. Due to national statistics in December (and other economic indicators), some have predicted a nasty “double dip” in the home market subsequent to the recovery which began last spring. But the market goes into hibernation in December: there are far fewer transactions, mostly by first-time buyers purchasing at lower price points, while families and upper-end buyers generally withdraw for the holidays. When the data is reduced and skewed, it’s less reliable. January isn’t much better because it takes a while for the market to wake up.

Therefore, the market data for February, as seen in the charts below, is of particular interest. While it’s unwise to make too much of one month’s data (a failing of many pundits), it is surprising how sharply February’s statistics indicate a strengthening market. That is not to say a double-dip isn’t possible — the state, national and world economies are still fragile — just that we are not yet seeing indications of one here in San Francisco. Those who have spent the last year waiting eagerly for further price declines have so far waited in vain. (For the record: according to the Case-Shiller index, home values in the 5-county SF Metro Area have increased 4 – 5% in 2009, but the city accounts for only a small percentage of those sales.) It will be interesting to see if the trends seen below continue, as spring gets under way — and what implications that might hold regarding price movements.

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Upcoming listings:

$2,100,000 // Buena Vista // BR/BA: 4/3.5 PKG: 4 Brief Description: Triple-parlor Grande Scale Victorian with Chef’s kitchen opening onto terraced and landscaped garden. Detached artists studio with skylight, wired…ice Excellent condition, classy renovation done by detail freaks. This will NOT be going into MLS and is available to be shown by appointment THIS WEEKEND ONLY. This is a Very small window of opportunity for you, you clients and for me.

$1,385,000 // Lake // BR/BA: 4/4 PKG: 1 Brief Description: Spacious Condo in a 3-unit built in 2008 on 26th between Lake and California; apprx. 2400 sq. ft. on 2 levels with deeded rear yard; FIRST OPEN Sunday, 3/7Property Website (if any): www.26126thavenue.com

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Paragon consistently achieves the highest average sales-price-to-original-list-price percentage & the lowest average days-on-market of the top 10 brokerages, when acting as listing agent.

When even a half percentage point in sales price equals thousands of dollars…

Paragon agents average 1.5% – 5.5% above other top SF brokers and 9.5% above the city’s overall average sales-price-to-original-list-price percentage of 88%.

Typically, when a buyer feels a sense of urgency to act quickly, they also offer more money. And when multiple buyers feel a sense of urgency, they bid against each other.

Paragon’s average days-on-market figure as listing agent is 5 weeks below the city average of 92 days.

Home sales include houses, condos, co-ops, tenancies in common, and 2-4 unit buildings. Sales over $3 are often confidential and distort the averages.

Hire an agent who knows how to: Price it correctly. Prepare it thoroughly. Market it comprehensively. Negotiate offers effectively. Protect your interests aggressively. It can make a difference of many tens of thousands of dollars.

Upcoming listings:

$2,995,000 // Ashbury Heights // Ashbury Street BR/BA: 5/4.5 PKG: 2 Brief Description: Extensively remodeled HUGE home w/big backyard. On Market mid-March.

$1,299,000 // Noe Valley // Diamond Street BR/BA: 3/2 PKG: 1 Brief Description: Beautiful 3 bedroom 2 bath peaked roof Victorian home in the heart Noe Valley. Wood burning fireplaces, outdoor space from every level, master w/a large walk-out deck, views & hot tub

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