John M Scott - Broker / Owner San Francisco Real Estate

Distressed Homeowners Targeted

In an article from The Sacramento Business Journal I read the scammers are at it again. They are calling homeowners and offering to help them keep their homes by filling out an application to Keep Your Home California, and charging them as much as $900.

The thing is, Keep Your Home California, a federally funded organization, is FREE. The article in The Sacramento Business Journal says that Keep Your Home California has helped 12,000 homeowners in the State keep their homes.

If you have had experience with Keep Your home California or know someone who has, I'd like to hear from you. So many state and federal programs seem to have had little impact or success - I'd like to hear some good stories!

Owner Move In Eviction - San Francisco

Case Study: You found just the right home to buy in San Francisco. But it is tenant occupied. And they aren't willing to just move out.

The home is occupied by a family of four, two parents and two children, plus two grandparents, both over 60 years of age. The San Francisco Rent Stabilization and Arbitration Board has the following relocation required payments.

Each tenant is entitled to a payment of $5,153.00, up to a maximum of $15,460.

In addition to that, each minor child is entitled to $3,436. Two children: $6,872.

In addition to that, each grandparent is entitled to $3,436. Two grandparents: $6,872.

Your Costs:

$15,460

+$6,872

+$6,872

=$29,204. (not including lawyer fees)

Plus, this will take up to 3 months. AND, since this household has two minor children under 18, they cannot be evicted during the school year. (unless you have minor children of your own).

Caveats:

1. If the home was built after 6/14/1979 this does not apply. Normal California owner move in eviction standards apply.

I attended a seminar today, Marketing Tenant Occupied Properties, put on by Leonard Spoto, Asset Exchange Company, and Daniel Bornstein, Bornstein & Bornstein, both exceptional and knowledgeable speakers.

San Francisco Market Focus Report - February 2012

The February Issue of Market Focus Report, issued by the San Francisco Association of Realtors brings mixed news as there are pockets of movement in the San Francisco housing market, despite the lessening inventory .

The following is an excerpt from the report and focuses in Single Family Homes. Those of you in the know, know that you can buy a home in San Francisco throughout a broad range of neighborhoods. And depending on the neighborhood, prices currently start from $164,000 to an average high in the $3 Million range, with the most pricey listing at $38,500,000. There are currently 55 active listings over $1.5 Million. The Citywide Median Sales Price currently sits at $655,000, up from last month. The Active for Sale Inventory is 517 and an average of 56.3 days on Market. Here's an excerpt from the February report:

Single-Family Homes

As inventory levels dropped in January by 32.9 percent, compared to January 2011, the number of homes under contract rose by 8.7 percent. But the low inventory seemed to also contribute to fewer completed sales, which is fairly normal market behavior for this time of year.

For homes that were priced below $700,000, the months of supply inventory fell by 47.3 percent to 1.6 months. For higher priced homes between $700,000 and $1.2 million, the months of supply inventory fell by 38.9 percent to 2.4 months. These short time frames continue to indicate a seller's market, where sellers have more leveraging power over buyers who are competing against a limited pool of properties.

Still, even with low inventory numbers, there were areas of the city that experienced healthy gains. One such area, District 10, rests in the southeastern most part of town. Compared to this time last year, the number of homes under contract has only dropped by a mere 3.8 percent. And, while the number of homes sold has fallen by 39.6 percent, District 10 saw the most homes sold of any other district in the City this past month, with 32 properties. Portola, Excelsior, and Visitacion Valley are just some of the ethnically rich neighborhoods that make up the area, whose median home prices are among the lowest in the City. A diamond in the rough is just what you may find in this suburban community forged from an industrial past of warehouses and factories.

Another area of the City which has maintained positive real estate activity, despite the drop in citywide inventory, is District 5, also known as the Central District. Compared to January 2011, the number of homes under contract rose by 25 percent, while the number of homes sold was 12.4 percent of the total number of homes sold in the entire City, at 8 properties. The Central District's natural charm and various points of interest, including Mission Dolores, the Haight-Ashbury, and Buena Vista Park, offers something unique and intriguing for just about every home buyer who would like to call San Francisco their home.

St. Francis Wood, a Secret neighborhood in SF?

I read an article on SFGate.com today in 'On The Block'. It was about the 'Best Kept Secret' neighborhoods in SF and the 'hidden gems' you'll find there. The writer was getting their information from trulia.com. It was all about what the 'out of state' searches were not looking for, but where the 'locals' knew where to look for special places to live in San Francisco.

94127, St. Francis Wood topped the list. Not surprised. It is a wonderful area rich in history as a planned community of the 1920s. Wide boulevards, beautiful large homes on tree-lined streets. And St. Francis Wood has an HOA, paid yearly that keeps the trees trimmed and does all the things the City doesn't do. St. Francis Wood is clearly a lux neighborhood, and its boundaries a very distinct.

The writer said the median price is $844,500. And the photo used as an example of homes typical in the area was of a FIXER located in Forest Hill Extension, listed at $599,000. Come on now, get your facts straight first before you write an article. If I'm not mistaken, On the Block is a local blog in a local newspaper - how could they get this so wrong!? Well, they listened to Trulia.com.....

Here's the real scoop. looking at homes sold in St. Francis Wood in the past 6 months, the median price is $1,493,525. The lowest is $1,350,000, and the highest is $2,225,000.

If you want the real facts about any San Francisco neighborhood, you need to consult with a local San Francisco Realtor. I can find those hidden gems, secret neighborhoods, and I know where the locals look!

A Dog Friendly House in the City

What makes for a dog friendly house in the City? I have a little experience in this, since I have 3 Chows. Keep in mind lots here in San Francisco aren't all that large - it's how you access them that's important. So here's my current list - I'd love to hear from more dog lovers, so feel free to add to my list!

1. You don't want a long flight of steps to your front door or out your back door. Rover's life span is shorter than yours, and when he becomes a senior citizen those steps could be troublesome.

2. There are a lot of things to occupy Spark's mind during the day, but he wants to know what's going on outside. He likes to watch you come and go too. There must be a window he can look out of and survey his kingdom. Even if it's from the back of your sofa.

3. The two most favorite things in Sasha's life are food and going for walks. For the food, there has to be an out of the way place in the kitchen or near it for the food and water bowls.

4. For the walk, well first of all remember the stairs. A quiet residential street is better than a busy thoroughfare. And it's handy to have a park nearby too. My dogs look forward to their 1 mile walk every day - in fact they literally can't concentrate on anything else until the walk happens.

5. A back yard is really a plus. And easy access to it is VERY important. My office is in a spare bedroom at the rear of the house, and it has a glass door leading to the backyard at grade. Ponche lays in front of the door keeping an eye on his domain. And when he sees a squirrel or a cat in HIS yard, he's got to get out there right away! I just get up and walk to the door and open it - it would be even better if It was next to my desk so I could just swivel over there.

6. Hardwood floors! Easier to keep clean. But you need plenty of area carpets or throw rugs too. Rico senior has a hard time getting up on those darn slippery wood floors. Rugs give him the needed traction.

I know there are more, so bring 'em on, dog lovers! If you're looking for a dog friendly Realtor, this San Francisco Realtor can help!