SF Real Estate Blog Readers Ask: Is a 10% Downpayment Still a Fantasy?

SF Snapshots: San Francisco Living

Noe Valley 1, San Francisco, CA 2008, originally uploaded on by José Antonio Galloso  

It’s Photo Friday again here on Luba’s San Francisco Real Estate Blog! 

It’s supposed to be another nice weekend in San Francisco – sunny and in the mid-60’s.  Our summer weather isn’t even usually this nice, so it’s amazing to have all of this sunshine in January.  So while the weather is this lovely outside, get out there and enjoy all of the outdoor activities that San Francisco has to offer!   

Don’t forget to check back next week for another glimpse of San Francisco as seen through the eyes of Flickr’s photogs.

And if you’d like to throw your photos into the pool of candidates for my SF Photo Friday collection, tag your SF Photos from Flickr with LubaSF.

Happy Friday!

San Francisco Real Estate Facts January 2008 vs. January 2009

For those of you that like your San Francisco real estate market data without commentary, here ya go.  Take a look, check it out, come to your own conclusions. 

Or – you can always ask me questions. 

Single Family Homes

Condos

NUMBER OF UNITS is the equivalent of number of sales/transactions. For condominiums, each unit is treated as a sale. For 2- to 4-unit buildings, the “building” is treated as a sale.

NUMBER SOLD is the number of properties in the market segment that closed escrow during the month.

NUMBER FOR SALE is the number of active properties on the market for one day or more during the month.

MEDIAN PRICE (SOLD) reflects the “middle” price point of a group of properties that have successfully closed escrow on a monthly basis, i.e. half sold for more and half sold for less than the median price. Tracking the movement of median prices over time provides a good indicator of the direction market forces are moving.

If the percentage change is positive between the two periods then there is upward pressure on prices in that market segment. If the percentage change is negative between the two periods then there is downward pressure on prices in that market segment.

AVERAGE DAYS ON MARKET (DOM) reflects how long it has been taking (on average) to draw an offer on a reasonably priced property exposed to the market. The AVERAGE DAYS ON MARKET is defined as: The average number of days it took all of the properties that went under contract during the period to accept a first position offer.

MONTH’S SUPPLY OF INVENTORY (MSI) is a measure of how long it would take, in months, to sell the existing inventory at the current sales rate for the specific neighborhood and property type. The MONTH’S SUPPLY OF INVENTORY is defined as: The number of active properties on the market for one day or more during the month, less the number of properties that have been withdrawn or expired, divided by the number of properties that have gone under contract during the month.

* * * * *

Data provided by Terradatum.

Be a Part of Your San Francisco Community

So, you’re sitting at home complaining about the nuisance in your SF neighborhood… whether it’s an unsafe intersection where people speed through the stop signs going 50mph, the giant new development coming to your block that will steal half of your block’s sunshine, or the homeless camp down the block from your home, you might have plenty of good reasons to complain. But how about actually getting involved and doing something about it?

You CAN be a part of the solution. Most neighborhoods in San Francisco have a neighborhood community group, and every SF police station has a monthly meeting where you can come and meet your neighbors and bring up concerns with your local police Captain. Below is a list of of neighborhood community group information, as well as a schedule for the monthly meetings at the police stations.

Before attending the meetings listed below, please check the groups’ contacts, or check with the Mayor’s Office of Criminal Justice where this list was originally posted.

Standing Meetings

16th Street/Mission Public Safety Task Force
2nd Tuesday of the month, 10 am
1885 Walden House, 2nd Floor | Mission Street between 15th and 16th
Contact: Emily Classen: emily@micocosf.org

Alamo Square Neighborhood Association
4th Monday of Each Month, 7PM
1399 McAllister Street, Basement

Bernal Heights Neighborhood Center:
Youth Violence Prevention Group Discussion Meetings:
Every 2nd Tuesday of the month, 6:00 -7:00 PM
4468 Mission Street, Greater Mission Consortium (GMC)

Cole Valley Improvement Association
1st Monday of Each Month
Call (415) 431-1414 or email cviasf@aol.com for Time and Location.

Community Leadership Alliance
Community Advocacy Commission, Monthly meetings, City Hall Room 034
Tenderloin Public Safety Committee, and Informational Forums, Monthly meetings. Tenderloin Police Station Community Room.
For further information contact: David Villa-Lobos at (415) 921-4192 or admin@CommunityLeadershipAlliance.net

Duboce Triangle Neighborhood Association
2nd Monday of EVERY OTHER MONTH, 7PM
CA Pacific Medical Center, Davies Camps, 45 Castro Street

East Mission Improvement Association
2nd Tuesday of the month, 7-8 pm
SF General Hospital, 1001 Potrero Avenue – Hospital Bldg. Room 2A6
Judy Berkowitz (415) 824-0617, sfjberk@mac.com| Milt Gaines, miltgaines@comcast.net

Friends of Boeddeker Park
2nd Tuesday of the month, 3:30-4:30 pm
Boedekker Recreation Center, 240 Eddy Street
Plan Park events, activities and improvements.
Contact: Betty Traynor
Btraynor@rcn.com; 415-552-4866

Haight Ashbury Improvement Association
3rd Wednesday of Each Month, 6:30PM
Urban School, 1563 Page St.

Hayes Valley Neighborhood Association
3rd Thursday of Each Month, 7:00 PM
First Baptist Church, 7 Octavia St.

Haight Ashbury Neighborhood Council
2nd Thursday of Each Month, 7PM-9PM
Park Branch Library, 1833 Page St

Haight Ashbury Service Association
Contact Caitlin Henry caitlinh@safetynetwork.org for Time & Location

Inner Sunset/Haight Ashbury Senior Central
3rd Thursday of Each Month.
Call (415) 682-2810 for time and location (Park or Taraval SFPD station).

Inner & Outer Sunset District Advisory Council (DAC) Meeting
Thursday, July 26, 3:00 pm – 4:30 pm
Taraval Police Station Community Room, 2345 -24th Ave.@ Taraval St.
Get together with service providers and community members in the Sunset District to voice out your concerns and opinions, and get informed district news!

Japanese Cultural Community Center
Last Wednesday of Each Month, 7PM
1840 Sutter Street, 3rd Floor Exhibit Hall

Japan town Merchants Association
3rd Thursday of EVERY ODD Numbered Month, 11AM
Kimochi Building, 1715 Buchanan

Lower 24th Street Association
1st Monday of the month, 6:30 pm
L’s Caffe, 24th Street @ Bryant
Contact: Erick Arguello: lower24thst@aol.com

Mid-Market Project Area Committee (PAC)
Second Wednesday of the month, 5:30-7:30 p.m. (canceled in November)
Ramada Plaza Hotel, 1231 Market St @ 8th St
Addresses Market Street redevelopment and improvement issues from 5th to 8th Street
Contact: Carolyn Diamond, 362-2500

Mission Merchants Association
3rd Tuesday of the month – Rotating location
www.missionmerchants.com

Mission Parents
Last Saturday of the month, please contact for more information
The Mission is for families. The Mission Parents Group brings together parents, neighbors, and friends commited to making the Mission a healthy place to raise kids.
To subscribe email: missionparents-subscribe@yahoogroups.com
For more info: Email Kate Pavao at katepavao@yahoo.com

North of Panhandle Neighborhood Association
3rd Thursday of Every Other Month 7:30PM
Cafe Neon, 1801 McAllister Street

Oak Fillmore Neighborhood Association
2nd Tuesday of Each Month, 7PM
Call (415) 255-0665 for Location

Richmond Community Coalition Quarterly Breakfast
Every fourth Tuesday of each quarter, 8:30 am to 10 am
Richmond Community Coalition, St. James, California St. @ 9th Ave.
Sample topic on April 25: “Please come hear the results of the Richmond District YMCA’s recent Community Needs Assessment. This will be an opportunity to learn about the most recent demographics of the community and find out what you, the community, identified as our greatest needs. Light refreshment provided.
Please call Kitty Ha at 415-668-5955 x 375 for more information

Rincon Point South Beach Citizens’ Advisory Committee
Third Monday of every other month, 5:00 p.m.
South Beach Harbor, Embarcadero at Pier 40
The ballpark is a standing item on the agenda, and representatives from the ballpark attend every meeting.
To be added to the mailing list: e-mail Deborah Lucero: Deborah.lucero@sfgov.org

SF-5 Together
1st Wednesday of Each Month, 7PM-9:30PM
Northern Police Station, 1125 Fillmore St.

South of Market Project Area Committee (SOMPAC)
Third Monday of the month, 6:00-8:00 p.m.
SOMPAC Office, 1035 Folsom St, between 6th and 7th Sts.
SOMPAC provides advice, recommendations, and direction to the San Francisco Redevelopment Agency for the revitalization of the South of Market Redevelopment Project Area (roughly 5th to 7th and Harrison to Stevenson Streets).
Contact: 487-2166 or www.sompac.com

SOMA Leadership Council Meeting
Third Wednesday of the month, 6:00 p.m.
The Arc of San Francisco, 1500 Howard St @ 11th St.
The SOMA Leadership Council hosts a monthly discussion of good planning and good government, particularly as they apply to the South of Market. The membership of the council includes a broad spectrum of stake-holders. Meetings open to the general public. Contact: Jim Meko, 624-4309 or visit web.mac.com/jimmeko/iWeb/SoMaLeadershipCouncil/Welcome.html

Sunset District Neighborhood Coalition
Where: Taraval Police Station, Community Room, 2345 24th Ave
The Sunset District Neighborhood Coalition (SDNC) meets monthly to discuss local issues, share neighborhood resources and plan community projects such as the Sunset Community Festival , the Rebuild Sunset Playground Campaign and the Pedestrian Safety Project.
Contact Susan Suval for more information: call 415-665-5579 or email: sunsetfestival@sbcglobal.net

Stanyan Fell Neighborhood Association
2nd Thursday of Each Month, 6:30PM.
Call (415) 221-5567 for location

Sunset Heights Association of Responsible People
Last Tuesday of the Month, 7:00 p.m.
173 9th Ave (Between Moraga and Noriega)

Tenderloin Futures Collaborative (TFC)
Second Wednesday of the month at 10:00 a.m.
Tenderloin Police Station Community Room, 301 Eddy St
TFC is a network of residents, non-profit organizations, and businesses that share information and address neighborhood development issues.
The Tenderloin Futures Collaborative has a new website at www.tlfutures.org.
Contact: Tomiquia Moss, 358-3909, or Glenda Hope, 928-6209

Waller Street Association
1st Thursday of Each Month
Call (415) 252-1550 for Time and Location.

West of Divisadero Emergency Preparedness Committee
4th Tuesday of Each Month, 6:30-8:00 p.m.
Boys & Girls Club, 1950 Page St.

Westside Neighbors to End Homelessness Monthly Meeting
First Monday of the month unless otherwise noted 6:30 p.m.
Sunset Neighborhood Beacon Center, 3925 Noriega Street
The Westside Neighbors to End Homelessness is a coalition of residents from the west side of San Francisco (Richmond and Sunset districts) which advocate for and serve the growing numbers of homeless individuals in the districts.

SFPD Community Forum Calendar

Over, Under, At – SF Home Sales: January 19-25, 2009

Welcome back to the “Over, Under, At” weekly feature. It’s a simple breakdown taken from MLS data that shows the number of closed sales that sold Over Asking Price, Under Asking Price or At Asking Price. 

*Just a reminder that new construction sales are rarely included in this list since they don’t get posted on the MLS.

Happy Monday folks. A few changes from last week… Single Family Homes increased in number and the number of homes that sold over asking increased a good bit (in fact, more homes some over the asking price than “at” and “under” combined), but condos sales slipped and TIC sales stayed flat. Properties are still selling – I mean, it IS San Francisco after all. 

Keep in mind that these reports are meant to be helpful for potential buyers and sellers – but to really understand the pulse of the SF real estate market, talk to a local real estate agent. We’re in the trenches and these closed sales went into escrow a month ago (sometimes less, sometimes more). We are much better in tune with what’s going on in the market TODAY and can give you much more in depth information than any set of statistics can. If you need advice from a San Francisco Realtor, feel free to contact me. I’m always happy to talk real estate.

Here’s a quick breakdown of closed San Francisco home sales for the week from January 19 – 25, 2009: 

Single Family Homes - 17 Homes Sold

Condos/Lofts/Co-ops’s - 7 Homes Sold

San Francisco Real Estate Sales – 4th Quarter 2008

If you never bothered to look at my website or to look at the little “Contact” box at the top left of this SF real estate blog, you might not know that I work for Zephyr Real Estate.  And to be honest, I don’t talk about Zephyr enough.  The agents are fantastic, the management is incredible and the support staff is second to none.  We’re the largest independent real estate company in San Francisco.  In fact, we’re THE number one real estate company in most of the City’s hottest neighborhoods. 

Where am I going on this tangent?  Well, no where really – except to tell you that Zephyr just released the SF Quarterly Real Estate Market Report for the 4^th Quarter of 2008. 

So without further adieu:

San Francisco Quarterly Real Estate Market Report for the 4^th Quarter of 2008

Well, one thing is for certain: the real estate market is never dull. With so many economic factors in play in today’s market, the tight lending standards, the flux of the stock market, the increase in unemployment, it’s no wonder so many people are sitting on the sidelines waiting to see what will happen next. Unfortunately, what often happens to those on the sidelines is that they wind up getting into the game late. There are opportunities to be found, especially in this market. Consider this:

• If you’re in the market to buy and are well-qualified, now may be a great time to swoop in and buy a great home. You will get more for your money now, and in some areas will find incredible values at prices that haven’t been seen for years.
• If you’ve always wanted to plan for retirement or build wealth through real estate investments, but never knew how, there are many opportunities to get into this market and finally get started. Rental income properties are much more attainable, and it’s possible to find some with positive cash flow.
• If you’re in the unique position as a seller to be in a sought-after neighborhood and have been there long enough to have built some equity, you are still in a strong position. You have more wiggle room for negotiation, but also have the power of location and demand on your side. If you’ve been in your home a short time and haven’t built equity, things may be a bit tighter, but it’s important to remember: if you sell for a lower value in this market, you also have the opportunity to buy more at the lower value as well.

In a City with neighborhoods so nuanced that prices can often vary block by block, it’s more important than ever to work with someone who can help you navigate through this market.

If you’d like more detailed information on your specific neighborhood or have any questions, please don’t hesitate to contact me.

 

SF Snapshots: San Francisco Living

Shoppers Delight, originally uploaded on by caribb 

It’s Photo Friday again here on Luba’s San Francisco Real Estate Blog! 

I’d like to be spending my weekend eating my way through the goodies at the Ferry Building.  But alas, I have a nasty cold.  So instead, I’ll be home in bed, catching up on work in between Nyquil naps. 

Don’t forget to check back next week for another glimpse of San Francisco as seen through the eyes of Flickr’s photogs.

And if you’d like to throw your photos into the pool of candidates for my SF Photo Friday collection, tag your SF Photos from Flickr with LubaSF.

Happy Friday!

New Construction Steals and Deals in San Francisco

I’ve been hitting up some of the newer developments in San Francisco over the last month, and it seems that every place I’ve visited, the sales people have hinted (and in some cases blatantly blurted out) that if I buyer is interested in something, to just make a lowball offer. 

At one Mission Bay development I visited, the salesperson said that the developer is pretty much accepting offers $100K under asking and it is pretty standard practice these days and was pretty much considered a done deal in many instances.  And if a buyer wanted other incentives, such as upgrades, paid HOA dues, credits and more would be considered as well.

And according to today’s San Francisco Chronicle, my observations that many sellers are ready to wheel and deal were confirmed.  Many developers are now making their discounts and incentives public and are actually advertising them.

According to the article, the City’s new developments that are making announcements that they are ready to deal are:

• The Millennium Tower
• The Radiance
• One Rincon Hill
• Artani
• Argenta
• The Highpoint
• The Cubix

But I’ve also heard of amazing deals at:

• The Infinity
• The Hayes
• The Arterra
• SoMa Grand
• Symphony Towers
• The Montgomery
• Candlestick Point

Almost all available units at the various new condo developments in SF are offering some kind of concessions on price or a variety of other bonuses.  If you’ve been thinking about buying new construction in San Francisco, you are in luck.  If you want more info, give me a holler.