SF Snapshots: San Francisco Living

originally uploaded on by Leiflet  

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

I’m not sure which pier this is, but I’m guessing Pier 7?  It’s just another of those random little glimpses of the City that make me fall in love with it over and over again.  Whether I’m seeing the City through my eyes, or through someone elses, I know I’ll never love another City more than I love San Francisco.   

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!

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Who Wants to Be a Farmer?

So, when I was a kid, I thought I might like to be a farmer.  The idea of living on a farm seemed very romantic.  Getting up early to till the soil and reaping the fruits of my labor.

But when I grew up, I realized two things that sort of shot that dream to bits:

1)  I’m a City girl at heart.  San Francisco to be exact.  I couldn’t imagine living anywhere else in the world.  I love the City.  I love every nook and cranny.  I love coming to the top of some seemingly boring hill on a nondescript block and being smacked in the face with a random vista – from a glimpse of the downtoan skyline to the tippy top of the Golden Gate Bridge with the Marin Headlands in the background.

2) I kill every plant.  Farmers can’t kill plants.  Seriously, I have killed every plant I’ve ever owned except for some lucky bamboo I once had.  It must not have been THAT lucky though since the plant folks at my office swiped it and decided it belonged in the office’s bathroom instead of on my desk.  For some reason, I decided not to bring that plant back to my desk for fear that cooties from the bathroom would follow it. 

Anyhow – my tangent has a point.  Really, it does.  Even though I can’t be a farmer, that doesn’t mean you can’t.  If City living has just gotten to you and you have a propensity towards doing a little growing, specifically avocados and lemons, then I may have found the place you want to call “farm” or, er, um, “home!”

Rifleman Ranch is a one of a kind property located in the Las Posas Valley in Ventura County, CA between Somis and Moorpark.

The home has ocean, island and mountain views overlooking 20+ acres of avocados, lemons and assorted family grove. PLUS there’s a 3BR/2.5BTH custom farmhouse with incredible details and wrap-around porch (what’s a farm without a wrap-around porch?) and amazing third-story lookout. And if your farmhouse isn’t enough home for you, a breezeway connects the main house to the garage with a separate office/studio apartment above.

Oh, and there’s a BARN!  (Again what farm wouldn’t be complete without one?!)  The brand new custom barn makes a great workshop or artist’s studio and the separate upstairs 2BR/2BTH guest quarters is a perfect guest home or rental. 

And what farm would be complete without a place for a horse or two????  There’s two acres that are perfect for an equestrian facility and horse arena. And you get all of this farm living just ten minutes from town, a train station and award winning schools. 

Now – if you want more info, check out the property’s website.  And if you decide to call it “home” give me a holler and I’ll come and hang out and will bring my overalls!!!

 

 

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Homebuyer Tax Information for San Francisco Home Buyers

The California Association of Realtors recently came out with a handy chart summarizing the two tax credits that can benefit first time buyers in SF(and throughout California) and/or buyers of new construction as well.  Here’s what they had to say:

For California homebuyers, tax time is now tax relief time too.  Thanks to two recent laws, a California homebuyer may qualify for $18,000 in tax credits for buying his or her piece of the American dream.  The two tax credits are a first-time homebuyer credit up to $8,000 under federal law, and a new home credit up to $10,000 under California law.  For more information on the tax credit laws, C.A.R.’s Legal Department has a legal article entitled Housing Stimulus Laws of 2009 which is available for members only.

Here’s a quick summary of the two tax credit laws:

  HOMEBUYER TAX CREDIT

FEDERAL

CALIFORNIA

Amount of Tax Credit

10% of purchase price not to exceed $8,000.

5% of purchase price, not to exceed $10,000. Maximum tax credit for all taxpayers is $100 million to be allocated on a first-come, first‑served basis.

Principal Residence

Yes.  Property purchased must be the taxpayer’s principal residence which is generally the home the taxpayer lives in most of the time (26 U.S.C. § 121).

Yes. Property purchased must be a qualified principal residence and eligible for the homeowner’s exemption from property taxes (Cal. Tax & Rev. Code § 218).

Type of Property

House, condominium, townhome, manufactured home, apartment cooperative, houseboat, houstrailer, or other type of property located in the U.S.

Single-family residence, whether detached or attached, condominium, cooperative project unit, houseboat, manufactured home, or mobilehome.

First-time Homebuyer

Yes. The buyer (and buyer’s spouse if any) must not have owned a principal residence during the three-year period before date of purchase.

No. The buyer need not be a first-time homebuyer.

Unoccupied Property

No.  Property may have been previously occupied or not.

Yes. Property must have never been previously occupied as certified by the seller.

Minimum Occupancy Requirement

Must be the buyer’s principal residence for 36 months after purchase, otherwise credit must be repaid.

Must be the buyer’s principal residence for 2 years after purchase, otherwise credit must be repaid.

Income Restriction

Yes. Tax credit begins to phase out if modified adjusted gross income is over $75,000 (or $150,000 for joint filers). No tax credit at all if modified adjusted gross income is over $95,000 (or $170,000 for joint filers).

No.

Date of Purchase

January 1, 2009 to November 30, 2009, inclusive.

(Note: A repayable $7,500 tax credit is available for purchases from April 9, 2008 to December 31, 2008.)

March 1, 2009 to February 28, 2010, unless $100 million funding runs out.

Refundable

Yes. Any amount of the tax credit not used to reduce the tax owed may be added to the taxpayer’s tax refund check.

No.

Repayment

The buyer need not repay the tax credit if the buyer owns and occupies the property for at least 36 months after the purchase.

The buyer need not repay the tax credit if the buyer owns and occupies the property for at least two years immediately following the purchase.

Multiple Buyers

(not married to each other)

The $8,000 tax credit may be allocated between eligible taxpayers in any reasonable manner.

The $10,000 tax credit may be allocated between eligible taxpayers based on their percentage of ownership.

Maximum Credit for All Taxpayers

N/A

$100 million.

When to Claim

Full tax credit may be claimed on 2008 or 2009 tax returns.

1/3 of total tax credit may be claimed each year for 3 successive years (e.g. $3,333 for 2009, $3,333 for 2010, and $3,333 for 2011).

Tax Agency

Internal Revenue Service (IRS).

Franchise Tax Board (FTB).

How to File

First-Time Homebuyer Credit

(IRS Form 5405) to be filed with 2008 or 2009 tax returns

Specific procedure for claiming credit includes completing an Application for New Home Credit (FTB Form 3528-A).

When to File Form

Form 5405 must be filed with 2008 or 2009 tax returns.

FTB Form 3528-A must be faxed by escrow to the FTB within one week after close of escrow and filed with the buyer’s 2009 or 2010 tax returns.

Exceptions

Acquisitions by gift or inheritance, acquisitions from related persons as defined, and buyers who are nonresident aliens.

Credit allowed is not a business credit under Cal. Tax & Rev. Code § 17039.2.

Legal Authority

26 U.S.C. section 36.

Cal. Rev. & Tax Code section 17059 (as amended by Senate Bill 15).

Date of Enactment

February 17, 2009.

February 20, 2009.

More Information

IRS website at http://www.irs.gov/newsroom/article/0,,id=204671,00.html.

FTB website at http://www.ftb.ca.gov/individuals/New_Home_Credit.shtml which includes a tally of the $100 million original funding that is still available.

 

 

 

 

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March 2009 San Francisco Home Sales Data is Here!

Yet again, Luba’s San Francisco Real Estate Blog brings you latest San Francisco Real Estate market report here. (You can also view previous market updates by selecting the archives on the upper right portion of the screen).

Heres’s a little glimpse of the report:

Sales of single-family, re-sale homes and condos continued rising last month as we enter the Spring selling season. Home sales were up 21.2% from February, off 14.3% year-over-year. Year-to-date, home sales are off 20.3%.

Condo sales were up 27.3% month-over-month, but off 34.5% compared to March 2008. Year-to-date, condo sales are off 40.2%.

Prices continued the roller coaster ride they’ve been on for the past few months. After rising 17.3% in February from the month before, the median price dropped 3.2% in March, a drop of 22.9% year-over-year. This is the eleventh month in a row the median price has been lower than the year before. The average price also fell, falling 8.8% month-over-month, and down 25% compared to last March.

The median price for loft/condos in San Francisco dropped 11% from February, and was down 15.2% year-over-year. The average price for condos fell 18.2% from February.  The average price was off 23.1% year-over-year.

Read on for full details.

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San Francisco History Exhibit

Want to know a little secret?  I know where you can find the largest permanent exhibit on San Francisco History anywhere.

Distributed over 4 floors at the top of 450 Golden Gate, the program details the tales of the City from 1850’s through the construction of the TransAmerica Pyramid. Vignettes feature the Panama Pacific Exposition of 1915, the creation of the Bay Bridge, Treasure Island,the 1939 Golden Gate Exposition, the Palace Hotel, the Earthquake and Fire of 1906, the Cliff House and Sutro Bathes, Civic Center, Recreation, Districts around town, the Waterfront, transportation and cablecars, the City’s great hotels, notable characters, as well as selected content from others areas around the 9th District the Court serves. Each images has a detailed narrative telling the story behind the picture.

The program was conceived as a gift to the public from the Court, led by Judge Breyer in San Francisco and Judge Seeborg in San Jose. The intent was to express the integration of Courts with the community, providing education heritage content, foregoing conventional decorative art for the interior walls. Displays are located throughout the public space of the San Francisco and San Jose building, as well as chambers and Jury Rooms. The project started by considering the Jurist experience in the deliberation rooms, which often were windowless.

Business Image group, led by Bennett Hall, design and developed the content, accompanying narrative, refined the often faded original images and framed and install the pieces through his production company in San Francisco, Eco-Framing.  Each photograph was digitally mastered at the highest possible resolution.

Remember to bring your ID when you visit – it is a Federal building and security check-points are at the entrance

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San Francisco Real Estate Facts March 2008 vs. March 2009

San Francisco Association of Realtors District Map

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. 

(Editor’s Note: Set forth below are Supply/Demand, Sales Rate and Median Price charts for the month of March, as well unit sales/DOM/monthly supply charts for the same month for single-family homes, condominiums and 2-4 units.)

 

 

Single Family Homes

 

Condo

 

2-4 Units

 

 

 

 

 

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.

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Preserve California Beaches and Wildlife

I live out in the Outer Sunset across the street from Ocean Beach (it’s the closest you’ll get to ocean front property in San Francicso!), so maybe I am a little biased, but I feel like we all like Oceans right?  And we’d like them to be clean and pollutant free for future generations, yes? 

Well, on April 16th, you can help do something about it. 

The Monterey Bay Aquarium’s Ocean Action Team recently sent out a request that I think is worth sharing.  If you’re free on April 16th, please take a little time out of your schedule to share youro views about preserving out oceans.

Preserve our beaches and our wildlife

In December 2008, the Bush administration lifted a 27-year moratorium on offshore drilling, opening the way for oil and gas development and a potential threat to our wildlife, beaches and the coastal economy upon which California depends.

©Deborah D. Lattimore www.deborahlattimore.com

What can I do?

Send an electronic letter to your representative and support the California Ocean and Coastal Protection Act.

Many California representatives already support this bill, therefore when you enter your zip code you will be directed to either a letter of thanks, or a letter to encourage support.

The Obama administration is holding town hall meetings in four U.S. cities to hear the publics’ view on offshore drilling. On April 16, a meeting will be held in San Francisco at the Robertson Auditorium, University of California.

Can you join us there?

For more information please contact us at oceanaction2@mbayaq.org

Thank you for taking action to preserve our special coast.


Aimee David, Alison Barratt & Ken Peterson

Monterey Bay Aquarium’s Ocean Action Team



email: oceanaction2@mbayaq.org

web: http://www.oceanaction.org

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Got SF Real Estate Tools?

House in HandAre you looking to buy a house in San Francisco?  Or maybe you’re pondering selling that little SF condominium or TIC? 

Whether buying a house, condo or TIC, investment property,etc. or looking to sell any of the above in the City, you want TOOLS!

I’m not talking hammers, table saws and drills – I’m talking about tools that provide you with HONEST and UNBIASED information about the San Francisco Real Estate Market!

So – you want to know what kind of tools you can get your hands on?

 

The City Update(TM) – San Francisco’s Friendliest Real Estate Newsletter

The City Update(TM) is a little SF real estate newsletter delivered straight to your inbox (almost) every Friday.  It has ALL sorts of awesome features including:

  • San Francisco Market Reports from the Altos Research folks
  • All of the NEW San Francisco real estate listings from the last 30 days
  • All of the SOLD San Francisco real estate listings from the last 30 days
  • Links to SF Open Houses, SF Foreclosure Listings, and more
  • Commentary about the SF Real Estate market from yours truly
  • SF Property “Pocket Listings” that I hear about (properties that AREN’T available to the general public!)

You can SIGN UP HERE or you can check out the site (just keep in mind that frankly, the site sucks – but I created it myself and since my HTML skills are LACKING, I’m just happy I got THAT far with it!)

 

SF Real Estate Market Updates

If you just can’t get enough San Francsco real estate market updates between this blog and The City Update(TM), you now have one more option when it comes to getting the latest deets on what the market is doing. 

Again, brought to you by the Altos Research folks, you can narrow down your reports by zip code or property type AND you can sign up for as few or as many zip codes as you like (you just have to reenter your info for each new zip code/property type). 

Go ahead, get your SF real estate data fix on!  You can SIGN UP HERE.

 

100% Complete Access to the San Francisco MLS

Know everything that’s on the San Francisco market in real time.  Just like a REALTOR, you’ll get access to ALL of the listings in the MLS. 

Unlike other Real Estate search sites, Zephyr MLS Direct gives you the most complete, accurate and up-to-date listing information available, which lets you find properties as soon as they hit the market. 

It also lets you save your searches and new listings that match your criteria emailed to you as soon as they hit the market!  And you can save your favorite properties, watch them go into escrow, and if they’re in your “favorites” folder, you can even see the price they sold for (which we all know is super secret data.)  You also get notified of any changes that occur to the property listings that match your criteria AND Friday Open House reports.  Cool or what?

You’ll have to give up some personal info, and “agree” to work with me as your REALTOR (it’s a technicality that the MLS requires), but I NEVER EVER EVER hold you to it.  To really build a client/agent relationship, we have to meet in person to decide if we’re a good fit to help you achieve your real estate goals.  And you’ll have to CONTACT ME to make it happen.  WHY?  Because I’m just not into stalking and I’m easy to find

Want your own MLS access?  You can SIGN UP HERE.

 

So, go ahead, get your SF real estate information fix on!  Sign up for one, two or all three of the San Francisco real estate tools above! 

And if you think you’d like me to represent you in the sale or purchase of a property, call me at 415–307–1392 or shoot me an email.  I’m happy to schedule a free consultation with you to see if we’d work well together.

Oh, and as a reminder, should you sign up for any of the tools above, as always, your info will not be sold, rented, shared, abused, danced on, or in any other way misused. Just thought you’d like to know.

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SF Snapshots: San Francisco Living

Palace Hotel Carriage Entrance.gifPalace Hotel Carriage Entrance.gifCarriage Entrance of the Palace  Hotel by Taber

Carriage Entrance of the Palace Hotel, originally uploaded on by Bennet Hall

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

This photo is sort of a early-days shot of valet service.  According to SF Images “the Carriage Entrance of the Palace Hotel was used for grand entrances upon its opening in 1876. The area was renovated to become a restaurant due to guests’ complaints over the smell of manure.”

I’ve had bad valet service before, but never did the valets smell like manure.

This week’s photo was brought to you by Bennet Hall but if you love the image, or a variety of other historical SF Images, you can get them yourself, in a variety of sizes, to hang on your very own wall.   

Don’t forget to check back next week for another glimpse of San Francisco.

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!

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30 Days of Sold San Francisco Property Listings

We’re starting a new feature here at Luba’s San Francisco real esate blog. 

It’s a rolling average of the last 30 days of sold listings. 

We’ll also be bringing you the last 30 days of new listings in a different blog post. 

Check back next week to see the sold properties stack up. 

 

Sold Listings 03/10/09 – 04/09/09

Neighborhood Total Listings Average Price Average DOM
Balboa Terrace 1 $1,050,000 57
Bayview 6 $506,000 39
Bayview Heights 3 $1,328,333 153
Bernal Heights 12 $766,881 56
Buena Vista Park 1 $490,000 48
Central Richmond 8 $805,000 92
Central Sunset 6 $1,125,833 65
Central Waterfront 1 $1,108,000 84
Clarendon Heights 1 $3,000,000 1
Corona Heights 2 $980,000 100
Cow Hollow 2 $657,000 45
Crocker Amazon 6 $545,983 56
Diamond Heights 2 $774,500 27
Downtown 3 $372,667 87
Duboce Triangle 2 $825,000 90
Eureka V./Dolores Hts 8 $1,093,438 84
Excelsior 5 $513,600 67
Financial District 3 $2,451,333 112
Forest Hill 2 $912,500 58
Forest Knolls 1 $849,000 23
Glen Park 6 $862,833 70
Golden Gate Heights 3 $883,000 37
Haight Ashbury 6 $1,085,000 63
Hayes Valley 1 $840,000 50
Hunters Point 1 $150,000 207
Ingleside 4 $397,000 99
Ingleside Heights 4 $331,000 32
Inner Mission 6 $722,500 52
Inner Parkside 2 $887,000 55
Inner Richmond 3 $1,149,667 79
Inner Sunset 3 $658,000 139
Lake 4 $871,250 43
Lake Shore 4 $722,500 74
Lone Mountain 3 $1,095,667 69
Lower Pacific Heights 5 $573,378 97
Marina 1 $1,100,000 25
Merced Heights 2 $533,500 54
Midtown Terrace 2 $787,500 42
Miraloma Park 4 $1,028,250 50
Mission Bay 2 $647,500 93
Mission Dolores 4 $748,000 47
Mission Terrace 1 $530,000 33
Monterey Heights 1 $1,175,000 35
Nob Hill 2 $920,000 90
Noe Valley 15 $1,031,133 62
North Panhandle 3 $1,131,000 29
Oceanview 1 $850,000 274
Outer Mission 3 $539,333 46
Outer Parkside 3 $565,000 11
Outer Richmond 2 $941,250 87
Outer Sunset 4 $727,200 48
Pacific Heights 7 $2,177,857 70
Parkside 8 $684,375 74
Parnassus/Ashbury Hts 6 $914,833 98
Pine Lake Park 2 $977,500 61
Portola 7 $589,429 86
Potrero Hill 7 $769,000 102
Presidio Heights 1 $290,000 107
Russian Hill 2 $740,000 236
Sea Cliff 3 $1,405,000 46
Silver Terrace 3 $461,333 25
South Beach 6 $1,032,650 58
South of Market 7 $1,632,129 115
Sunnyside 2 $567,500 30
Twin Peaks 1 $1,100,000 35
Van Ness/Civic Center 5 $620,500 42
Visitacion Valley 4 $457,500 69
Western Addition 5 $588,800 80
Westwood Park 2 $975,000 15

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Contact Me


Luba Muzichenko

REALTOR®

Zephyr Real Estate

415-307-1392 (cell)

luba@zephyrsf.com

www.LubaSF.com  

DRE License #01768716

 

 

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Single Family Home Stats

SAN FRANCISCO, CA
Single Family
2009-10-16
Median List Price$895,000
Total Inventory653
Homes Absorbed40
Days on Market118

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About the Blog


Luba’s San Francisco Real Estate Blog was created to share insights about San Francisco Real Estate and about San Francisco living. Written by Luba Muzichenko, an "almost-native" San Franciscan and a local Realtor® with Zephyr Real Estate, Luba’s San Francisco Real Estate Blog is meant to inform you about a variety of good things and happenings around SF and its unique neighborhoods, about buying and selling homes in the City and about the real estate market in general. If you like what you see, please tell a friend.