Conforming Loan Limits to Remain in Place for 2010

I predict that Fannie Mae, Freddie Mac and FHA loans will remain at $729,500 through 2010.

Ok, ok, so it’s not REALLY a prediction.  It’s an update from the California Association of Realtors.

Still good news.  The bad news – well, my psychic powers really don’t work.  Here’s the scoop from the association:

Good news to report: President Obama is expected to sign a resolution passed late yesterday by Congress extending the current limits for Fannie Mae, Freddie Mac, and FHA loans through 2010. The limits were set to expire at the end of this year. This is especially critical for California, where more than 80 percent of all loans are financed by Fannie Mae, Freddie Mac, or FHA, and will help maintain the positive signs we are now seeing in California’s mortgage market. President Obama is expected to sign the resolution today or tomorrow as part of a broader piece of budgetary legislation that will prevent a government shutdown.

While home prices in California have declined, the demand for housing has not. The market has been dominated by first-time home buyers who have faced a shortage of financing opportunities. The loan limits are set at 125 percent of local median home sales prices, up to a maximum of $729,750 in high-cost areas, including many regions in California. Sales in move-up and high-end markets have been constrained this year; the loan limits extension will help qualified home buyers in these markets to move forward with their purchases.

Although loan limits are safe through 2010, there is still work to be done. Congress has yet to act to extend the First Time Home Buyer Tax Credit past its current Nov. 30 expiration date. Yet the impact of the home buyer tax credit is clear: A C.A.R. survey of first-time home buyers shows that 40 percent would not have purchased a home without the tax credit.

In tandem with our efforts to extend the current loan limits, C.A.R. and NAR are vigorously working to have the soon-to-expire federal First Time Home Buyer Tax Credit extended, and we need your help.

I am asking every one of you to contact your congressional representative today. In the Senate, an amendment offered by Senators Dodd, Lieberman, and Isakson will both extend the program into 2010 and expand the eligibility requirements. The amendment has been attached to a bill that will extend unemployment insurance benefits. We expect the bill will pass the Senate and then be voted on by the House of Representatives.

Please call your Congressional Representative to urge them to support the Unemployment Extension bill that contains the home buyer tax credit. Please call (800) 961-3302 and enter your PIN number 166016229 when you are prompted to be connected to your legislator’s office.

Thank you for your help with this effort. Together, we can make a difference in Washington, D.C.

Sincerely,

James Liptak
2009 President
CALIFORNIA ASSOCIATION OF REALTORS®

***CORRECTION***

Loan limits will remain at $729,750!  NOT $729,500 as I previously mentioned.  Sorry for the typo!!!

See, my crystal ball IS wrong! Anyone know a good repairman???

San Francisco Real Estate – Sold!

Want to know know what sold in San Francisco in the last 30 days?  Sign up for The City Update(TM) – San Francisco’s Friendliest Newsletter.  You’ll get the details, and then some, in your inbox (almost) every Friday.

If you just want the round numbers, you can check them out below.

Sold Listings 09/30/09 – 10/29/09

Got Bags? Get Them From the Friendliest San Francisco Realtor

A while ago I noted that San Francisco had put a ban on plastic grocery bags. Since then, many cities have followed suit, or at least have contemplated following suit.

The problem is that stores aren’t using the biodegradable starch based bags and instead are using paper bags – a big problem for tree lovers and trees alike. The problem is that while a paper bag won’t sit in landfill for thousands of years like a plastic bag will, it actually takes more energy to make a paper bag than a plastic bag.

My suggestion, although probably controversial, is stop using paper bags too.

Stores can then charge anywhere from $0.10 to $0.25 a bag for the starch based bags. It’s what they do in Europre and people just accept it!!!

People will learn that you either need to pay up or bring your own bag. And stores can stop bitching that the starch based bags are too expensive and cut into their profits.

In Europe, everywhere I went I wasn’t handed a bag unless I asked for it, AND paid for it. And no one complained.

My suggestion – bring your own grocery bags to the store with you.

What? You say you don’t have any reusable grocery bags? Give me a holler - I’ll hook you up with a free canvas grocery bag while I’ve got ‘em.

I apologize, but I am no longer shipping the bags outside of the San Francisco Bay Area. In fact, I actually no longer ship the bags at all. I either drop them off locally, or leave them at my office for people to pick up.

The bags are to help people “go green” but the amount of energy it takes to ship something as small as a canvas bag across the country is very wasteful, as is the packaging required to ship it.

I hope you understand and I apologize for any inconvenience.

If Only Realtors Could Problem Solve Like THIS!

I caught this on Sellsius and thought it was a hoot!!!

It’s been a rough few years in real estate.  And I feel like San Francisco real esate agents are constantly battling fires and solving perplexing problems.

Imagine how many problems could be solved if EVERY Realtor was THIS creative when faced with problems! 

And yes – I am joking!!!  MOST agents in the City I’ve had the pleasure of running into have just been amazing!  But I thought a little Friday fun was in order.

San Francisco Halloween 2009

So it’s time for another Halloween.

For me, it’s another year where I didn’t make it to Half Moon Bay for the maze, I don’t have a pumpkin and haven’t bought candy yet for trick-or-treaters.

I did manage to order a costume WEEKS ago, on eBay, which still hasn’t arrived yet.  So I had to spend 4 hours wandering up and down Haight street fighting every other person looking for a last minute costume.  I managed to find SOMETHING to wear, which by San Francisco standards is truly BLAH,  but due to my eBay fail, it’ll have to do.

So then came the hard part?  WHAT TO DO????

I grew up going to the party in the Castro, when the worst thing I ever remember happening was the time I accidentally stepped on a guy’s tail (he was dressed as a beaver) and it ripped off.  (Beaver guy, if you’re reading this, I’m still sorry!!!)

And this year, my choice is pretty simple, a good friend puts on an EPIC haunted house in the Outer Sunset full of props from the Old Wax Museum and Haunted Gold Mine.

But if you don’t like Haunted Houses, or feel like making a trek to the Outer Sunset, there are other things to do in San Francisco even without the Castro Street celebration.

FunCheapSF and Metrowize are two great places to start planning your Halloween shenanigans.  And SF has its OWN site www.homeforhalloween.com that may provide some other alternatives as well.

Just make sure to be safe, to have fun and to have a designated driver if you’ll be drinking.    (Or GET A FREE TOW HOME!!!!)

Oh, and P.S. – Zillow came up with the best neighborhoods in San Francisco to go Trick or Treating- but I grew up going to the Sea Cliff to get MY candy – and just have to wonder whether it’s as good these days as it used to be.  (mmmmm…….. sugar……)

According to Zillow, the top 5 Trick or Treating SF ‘hoods are:

Top 5 San Francisco Neighborhoods to Trick-or-Treat

1. Presidio Heights
2. Noe Valley
3. Richmond
4. Haight-Ashbury
5. Sunset

Zephyr Real Estate Wants to Keep you Swine Flu Free

I just got an email from one of the wonderful folks on Zephyr’s management team.  And it shows once again, they care about us, they really do.

And since Zephyr Real Estate cares about me, and I in turn, care about you, I thought I’d also pass on the memo about keeping yourself free of Swine Flu/H1N1:

Here are a few common sense and easy to take steps, provided via UCSF Medical Center, to reduce the risks of H1N1 flu infection at home and around the office:

The only portals of entry are the nostrils and mouth/throat. In a global epidemic of this nature, it’s almost impossible to avoid coming into contact with H1N1 in spite of all precautions. Contact with H1N1 is not so much of a problem as proliferation is.

While you are still healthy and not showing any symptoms of H1N1 infection, in order to prevent proliferation, aggravation of symptoms and development of secondary infections, some very simple steps, not fully highlighted in most official communications, can be practiced (instead of focusing on how to stock N95 or Tamiflu):

1. Frequent hand-washing (well highlighted in all official communications);
2. “Hands-off-the-face” approach. Resist all temptations to touch any part of face (unless you want to eat or bathe);
3. Gargle twice a day with warm salt water (use Listerine if you don’t trust salt). *H1N1 takes 2-3 days after initial infection in the throat/ nasal cavity to proliferate and show characteristic symptoms. Simple gargling prevents proliferation. In a way, gargling with salt water has the same effect on a healthy individual that Tamiflu has on an infected one. Don’t underestimate this simple, inexpensive and powerful preventive method
4. Similar to 3 above, clean your nostrils at least once every day with warm salt water. Blowing the nose hard once a day and swabbing both nostrils with cotton buds dipped in warm salt water is very effective in bringing down viral population;
5. Boost your natural immunity with foods that are rich in Vitamin C (especially citrus fruits). If you have to supplement with Vitamin C tablets, make sure that it also has Zinc to boost absorption;
6. Drink as much of warm liquids (tea, coffee, etc) as you can. Drinking warm liquids has the same effect as gargling, but in the reverse direction. They wash off proliferating viruses from the throat into the stomach where they cannot survive, proliferate or do any harm.

Happy flu proofing!

Is Asbestos as Spooky as it Sounds?

There’s all sorts of hazards that a home might contain.  You might be in earthquake territory (which is pretty much all of San Francisco), you might be in a high radon area, and you might have two of the MOST common hazards we see here in the City – lead and asbestos.

The folks from www.asbestos.com contacted me to see if I’d be willing to share their advice on asbestos with you… and since it sounds spooky and scary, and it IS almost Halloween, I couldn’t think of a better time to post this.

From the writers at www.asbestos.com:

Living in the 21^st century, many cities are adapting to the new green paradigm, updating old homes and buildings to suit the needs of a healthier environment and home. With a growing amount of education and technology in eco-sustainable resources, the state of California is leading the way towards a green paradigm of building and construction. It is important to take note of the consequences of improper building materials and environmental degradation.

Many homes, buildings and public facilities built prior to 1980 may still contain asbestos and other hazardous materials. The mineral’s flame resistant and durable qualities once made it an ideal choice for insulation, piping and roofing by manufacturers. Asbestos exposure can be easily prevented by taking simple precautions. This obsolete building material can easily be replaced with green methods of insulation that can even reduce annual energy costs!

Asbestos Tips and Info

If any asbestos is suspected or located in the home, the best advice is to leave it un-disturbed and un-touched until a professional can determine the proper course of action.  Many times the simplest and easiest way of dealing with asbestos IS leaving it undisturbed, and better yet, encapsulated. Disturbing asbestos in good condition may cause its fibers to be released into the air. Prolonged exposure to airborne asbestos fibers can potentially lead to the development of related lung ailments such as asbestosis and mesothelioma.

Mesothelioma is an aggressive form of asbestos cancer that accounts for three percent of cancer diagnoses in the United States. Due to the fact many mesothelioma symptoms are similar to less serious ailments, Diagnosis of mesothelioma is one of the more difficult tasks physicians encounter.

If asbestos should be removed, it is recommended homeowners have licensed abatement contractors perform the removal. They are licensed and trained in handling hazardous materials.

More Animal Spotting – Tigers in the Haight

Tiger House in the Haight

I’ve been on a roll snapping pictures of houses with a little more character in the City.  But this one comes to me from Wolf Davidson, who has asked me to identify him as “a VERY pleased client.”    (I helped him sell his home last and he now lives in Oregon with his fiancee!!!  Congrats, Wolf!!! )

I’m not sure when Wolf snapped this photo, but it seems to be a home on Frederick Street in the Haight District.

If you’re got more unique homes to share with readers of The Friendliest San Francisco Real Estate Blog, send them over!

In fact, if you have ANY awesome San Francisco events, details, pictures, tips, etc. you want to share, send THOSE on over too… other blog readers want to hear from YOU!

Realtors Under Attack and Fighting Back

We’ve all heard stories of REALTORS getting attacked by weirdos.  Folks in our business have been robbed, raped, beaten and even killed.

And while the worst thing I’ve heard recently was an iPhone stolen from a fellow SF Realtor’s open house, it seems agents in other parts of the country have a lot more to worry about than a stolen phone.

In other parts of the country, especially where foreclosures are high, agents have taken to wearing bullet proof vests, carrying tasers and even guns, YUP, guns.

I can’t say I haven’t thought about my own personal safety from time to time when I’ve shown up at a creepy looking house with a creepier looking seller on a listing appointment that doesn’t feel quite right.  Unfortunately, it’s still illegal for us to pack heat to our listing appointments, but don’t think I still don’t take precautions when I get out there and risk my life in the pursuit of doing my part of helping those that need San Francisco real estate assistance.  I still got a trick or two up my sleeve. 

For the full article, click here.

San Francsico DPW Map from 1997

SF Department of Public Works Map from 1997

I was digging through emails that I meant to get to “one day” on my quest to someday address all the things on my “to do” list when I stumbled upon an awesome map that Mark Pfeiffer, reader of The City Update(TM) – San Francisco’s Friendliest Real Estate Newsletter, sent to me MONTHS ago!!!  Geez – I knew I was behind, but not THAT behind!!!!

Mark wrote:

Hi Luba,

I like your newsletter.  I thought you might be interested in the attached map of San Francisco Neighborhoods that was put out by the Department of Public Works in 1997.  My wife has worked for “the city” for 35 years, in DPW and now PUC, and she gave me a copy of  this map when it first came out.  I’ve searched the DPW web site and have been unable to locate it, so I scanned it.  I’m sorry about the cropping, but my copy is in 8^1/4”x17” format.

v/r Mark

Thanks, Mark!!!  The map is AWESOME!  And I haven’t had time yet, but I’d like to see how it lines up with the SFAR map.

San Francisco Association of Realtors Map

I’d also LOVE to know if anyone has a more current map???  Anyone in DPW now???  Email me if you do!

And for that matter, email me if you come across ANYTHING cool and San Francisco related! Readers don’t just want to read about San Francisco Real Estate, they want to read about San Francisco!  Right?