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Policy Change by Wells Fargo Home Mortgage on 203k permit fees etc.... San Francisco

02-11-12
Mike Young, 203k Consultant Northern CA
Mike Young, 203k Consultant Northern CA: Real Estate Trainer in Vacaville, CA
  • view my blog
  • Office: (707) 812-7668 x203k
  • Mobile: (704) 451-1599
  • Secondary: (877) 207-6565

Once things are going well it seems like you would leave them alone and enjoy the ride. Not so with so many of the larger banks, however.

Wells Fargo has decided that the permit fees which are estimated, if not used for that purpose will be paid donw on the mortgage now and no longer will be moved to the contingency which has been the policy of all of the lenderws so it could be used on other improvements that may be needed.

The borrower is borrowing the money for 30 years and this money quite often can go to paying on items of construction that would keep the borrower from having to come out of pocket and pay for. The indication is that any line item savings will now be paid down on the mortgage as well and not be moved to contingency to pay for something that was an overrun. Too bad as this will create additional burden on the borrower's from time to time.

I know we have had many projects that would have gone south except we achieved savings that were used to put it back on track, This will bite you later.

Thank goodnes all lenders haven't gone this way... M

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Open House schedule, San Francisco, 02/12/12

02-11-12
David Ames
David Ames : Real Estate Agent in San Francisco, CA
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  • Office: (415) 552-9500
  • Mobile: (415) 271-2071

interactive district map of san francisco

Open Homes

in San Francisco

February 12th, 2012

Click on the interactive map link on the left to narrow specific searches

or use the quick search buttons below for all open homes within the 10 major districts of San Francisco


NOTE: The buttons below are "real time" links. Once the Sunday Open House times have passed, the links will revert to a "default" search.

district 1 buttondistrict 2 buttondistrict 3 buttondistrict 4 buttondistrict 5 button

district 6 buttondistrict 7 buttondistrict 8 buttondistrict 9 buttondistrict 10 button

6 Comments
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A Winter's Day in the Mission District, San Francisco

02-10-12
Peggy Hughes - SF NYC LA
Peggy Hughes - SF NYC LA: Real Estate - Other in San Francisco, CA
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  • Office: (310) 497-6916
  • Mobile: (415) 846-0569
  • Secondary: (917) 771-2276

A Winter's Day in the Mission District, San Francisco


Mission District - Winter 2012

Cloudy, gloomy, rainy and grey... just another winter's day

but that's ok

I know the sunshine will be back my way...

maybe tomorrow

or perhaps the next day



Photo taken at the corner of Dolores St and 14th Street... my house is on the left, barely noticable behind the tree...

11 Comments
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Precita Park Cafe In Bernal Heights Is Now Open!

02-10-12
Frank Castaldini
Frank Castaldini: Real Estate Agent in San Francisco, CA
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  • Office: (415) 338-0169
  • Mobile: (415) 846-1899

Precita Park Cafe In Bernal Heights Is Now Open!

The long awaited opening of the Precita Park Cafe is over. I stopped by last week and was delighted to see it open and as vibrant as you can hope for. Many of my clients, those who I've helped own a home in Bernal Heights, have also been waiting with excitement. I know that it will be a great addition and focal point to Bernal Heights and especially to those who live near Precita Park, which is how the name of the cafe comes about.

Precita Park Cafe photo by Frank Castaldini

The owner of Precita Park Cafe is no newcomer to running cafes. She has successfully opened and operated some of the most desirable cafes in San Francisco. Dolores Park Cafe was the first and it may have been responsible for a great turnaround and rejuvenation of Dolores Park. Needless to say, it is anticipated that Precita Park Cafe will have a similar impact on Precita Park and nearby.

Precita Park Cafe Interior

Precita Park Cafe photo by Frank Castaldini

As you can see there is a great use of the space here. High ceilings and open areas. Patrons standing in line ordering beverages and food. There is wifi internet access as well. The menu offers great quick-to-prepare selections that are sure to delight the palate and the belly. I, on this day, actually ordered some coffee to go and also purchased some chocolate for myself and a friend.

Great logo painted on the wall of Predica Park Cafe in Bernal Heigths.

Precita Park Cafe photo by Frank Castaldini

It's a great place for what you usually look for in a cafe. It's across the street from Precita Park which will make spending the afternoon in Bernal Heights, in this wonderful section, the north end, a great experience. I am sure I will be meeting with clients at this cafe and helping new buyers discover how great it is to live in Bernal Heights. If you are looking for home for sale in Bernal Heights I'm your guy. Let me buy you some coffee and a snack and lets talk about it.

View of Precita Park from the cafe

Precita Park photo by Frank Castaldini

Imagine having some wonderful coffee or snack sitting in Precita Park Cafe and viewing this lovely park. This is what is in store for you.

Frank Castaldini - 415.846.1899

Leading San Francisco Realtor and Trusted Advisor

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San Francisco Real Estate Values by Neighborhood

02-10-12
Simone Koga
Simone Koga: Real Estate Agent in San Francisco, CA
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  • Office: (415) 738-7209
  • Mobile: (415) 706-1586

San Francisco Real Estate Values by Neighborhood

Paragon Real Estate Group

Paragon Real Estate Group
What Costs How Much Where in San Francisco
San Francisco Home Values by Neighborhood
February 1, 2011 - January 31, 2012
The first set of statistics apply only to non-distress homes that include at least 1 car parking. Distressed homes (bank-owned/foreclosures) tend to sell at a much greater discount for a number of reasons and can skew the numbers for neighborhoods. While there are distress sales spread everywhere across the city, they are concentrated in the less affluent neighborhoods. Any "bonus" areas (bedrooms, baths, etc.) that were done without permit are not included in this table. If a price is followed by a “k” it references thousands of dollars; if followed by an “m”, it signifies millions of dollars. Sales unreported to MLS are not included in this analysis, and where abnormal “outliers” were identified that significantly distorted the statistics, these were deleted as well. Please see the definitions and caveats at the end of this report.
Trends in Dollar per Square Foot Values for Houses in Selected San Francisco Neighborhoods Prestige Northern San Francisco Neighborhoods: House Values
Sea Cliff, Lake Street, Jordan Park/Laurel Heights, Pacific & Presidio Heights, Marina, Cow Hollow, Russian Hill, Nob Hill, North Beach, Telegraph Hill
The MEDIAN SALES PRICE is that price at which half the properties sold for more and half for less. It may be affected by “unusual” events or by changes in buying trends, or seasonal trends, as well as by changes in value. Low Price & High Price are self-explanatory, but the low price might be for a property that needs significant work just to be habitable. Within a single neighborhood, it is possible for the low and high prices to be millions of dollars apart – the difference between a small, dark 2-bedroom condo above a Laundromat, and a lavishly appointed, full-floor, 2-bedroom penthouse with spectacular views in a prestige high-rise.
AVERAGE SALES PRICE is calculated by adding up all the sales prices and dividing by the number of sales. It is different from median sales price, but like medians, averages can be affected by other factors besides changes in value, such as fluctuations in average unit size. Averages may also be distorted by a few sales that are abnormally high or low, especially when the number of sales is low. Average sales prices are usually higher than median sales prices.
DOLLAR PER SQUARE FOOT is based upon the home’s interior living space and does not include garages, storage, unfinished attics and basements; rooms and apartments built without permit; decks, patios or yards. These figures are typically derived from appraisals or tax records, but can be unreliable, measured in different ways, or unreported altogether: thus consider square footage and $/sq.ft. figures to be very general approximations. Generally speaking, about 60-80% of listings report square footage, and dollar per square foot statistics are based solely on those listings. All things being equal, a house will have a higher dollar per square foot than a condo (because of land value), a condo will have a higher $/sq.ft. than a TIC (quality of title), and a TIC’s will be higher than a multi-unit building’s (quality of use). All things being equal, a smaller home will have a higher $/sq.ft. than a larger one. The highest dollar per square foot values in San Francisco are typically found in upper floor condos in prestige buildings with utterly spectacular views.
The AVERAGE SIZE of homes of the same bedroom count may vary widely by neighborhood: for example, the average size of a 4-bedroom house in Pacific Heights is much larger than one in Noe Valley; and the average of a Marina 2-bedroom condo is larger than one in South Beach. Besides the affluence factor, the era and style of construction often play large roles in these disparities. Some neighborhoods are well known for having additional
ROOMS BUILT WITHOUT PERMIT, such as the classic 1940’s Sunset house with “bedrooms” and baths built out behind the garage. These additions often add value, but being unpermitted are not reflected in $/sq.ft. figures. Many aspects of value cannot be adequately reflected in general statistics: curb appeal, age, condition, views, amenities, outdoor space, “bonus” rooms, parking, quality of location within the neighborhood, and so forth. Thus, how these statistics apply to any particular home is unknown. In real estate, the devil’s always in the details. SAN FRANCISCO REALTOR DISTRICTS
District 1: Sea Cliff, Lake Street, Richmond (Inner, Central, Outer), Jordan Park/Laurel Heights, Lone Mountain
District 2: Sunset & Parkside (Inner, Central, Outer), Golden Gate Heights
District 3: Lake Shore, Lakeside, Merced Manor, Merced Heights, Ingleside, Ingleside Heights, Oceanview
District 4: St. Francis Wood, Forest Hill, West Portal, Forest Knolls, Diamond Heights, Midtown Terrace, Miraloma Park, Sunnyside, Balboa Terrace, Ingleside Terrace, Mt. Davidson Manor, Sherwood Forest, Monterey Heights, Westwood Highlands
District 5: Noe Valley, Eureka Valley (Castro, Liberty Hill), Cole Valley, Glen Park, Corona Heights, Clarendon Heights, Ashbury Heights, Buena Vista Park, Haight Ashbury, Duboce Triangle, Twin Peaks, Mission Dolores, Parnassus Heights
District 6: Hayes Valley, North of Panhandle (NOPA), Alamo Square, Western Addition, Anza Vista, Lower Pacific Heights
District 7: Pacific Heights, Presidio Heights, Cow Hollow, Marina
District 8: Russian Hill, Nob Hill, Telegraph Hill, North Beach, Financial District, North Waterfront, Downtown, Van Ness/ Civic Center, Tenderloin
District 9: SoMa, South Beach, Mission Bay, Potrero Hill, Dogpatch, Bernal Heights, Inner Mission, Yerba Buena
District 10: Bayview, Bayview Heights, Excelsior, Portola, Visitacion Valley, Silver Terrace, Mission Terrace, Crocker Amazon, Outer Mission Some Realtor districts contain neighborhoods that are relatively homogeneous in general home values, such as districts 5 and 7, and others contain neighborhoods of wildly different values, such as district 8 which includes both Russian Hill and the Tenderloin.
Statistics such as these are generalities, subject to fluctuations due to a variety of reasons (besides changes in value). Average figures in particular may be distorted by a few sales substantially higher or lower than the norm, especially where the sample size is small. Generally speaking, the fewer the sales, the less reliable the statistics. New-development condo sales not reported to MLS – of which there are quite a few in San Francisco – are not included in this analysis. All information herein is derived from sources deemed reliable, but may contain errors and omissions, and is subject to revision.
Contact us anytime for assistance, information and resources regarding San Francisco real estate.
Simone Koga-Paragon Real Estate Group 415.706.1586 | www.simonekoga.com

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