Great article to share from SFGate. 150th anniversary of first Market St. rail line cnolte@sfchronicle.com (Carl Nolte, Chronicle Staff Writer) The Fourth of July is famous for other reasons, but today also is the 150th anniversary of the first run of the first street railway on the Pacific Coast – a two-car steam train that [...]
Archive for News
30
Jun
2010
Another Homebuyer Tax Credit?
Not quite. On Tuesday, The House of Representatives voted to extend the tax credit for three more months for those who had a contract in place prior to April 30th, 2010. The extension is to allow them enough time to close on their purchases in order to receive the $8,000 federal income tax credit. According [...]
28
Jan
2010
RALLY! Join Plan C at City Hall 2/3/10
“Please join Plan C at 8:15AM on Wednesday, Feb. 3, on the City Hall steps for a rally to support condo conversion reform! As many of you know, the condo lottery drawing happens at 9AM on February 3, and we’ll be done in time for you to attend the lottery itself.
You may have read within the last few months in the Chronicle and in the Examiner that the mayor’s office is considering again the possibility of a condo-lottery bypass initiative for qualifying TIC owners.
22
Jan
2010
10 Cities Where It’s Smarter to Buy
SF made it into the top 10 cities to buy in based upon a study done by Forbes magazine:
10 Cities Where It’s Smarter to Buy
For people who want to own a home, the premium to buy—the spread between what they’d spend to rent and what they’d pay for a mortgage—is much lower than the 15-year average in many cities.
To determine what cities are smart buys, Forbes magazine computed the premium and also identified locales where economists predict home prices will go up the most over the next five years.
Here are the top 10 cities the magazine chose as the best places to buy right now.
- Boston-Cambridge-Quincy, Mass.
- Charlotte-Gastonia-Concord, N.C.-S.C.
- Chicago-Naperville-Joliet, Ill.-Ind.-Wis.
- Cincinnati-Middletown, Ohio-Ky.-Ind.
- Denver-Aurora-Broomfield, Colo
- Minneapolis-St. Paul-Bloomington, Minn.-Wis.
- Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.
- Portland-Vancouver-Beaverton, Ore.-Wash.
- San Francisco-Oakland-Fremont, Calif.
- Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.V.
13
Jan
2010
After 5 years…
In 2009, its 5th year in business, Paragon…
- #3 in unit sales
- #4 in dollar volume sales
- Lowest in Days on Market as Listing Agent (of top 10 brokerages)
- Highest Sales Price to original List Price percentage as Listing Agent (of top 10)
- Average home sales price: $929,000
11
Dec
2009
2009 Real Estate in Review
December 2009 Newsletter: Real Estate in San Francisco
It has been an interesting year in real estate, and it continues to be a very interesting time for home buyers and sellers in San Francisco. Below are a number of charts which review the city’s market from a variety of angles.
The data below is from sources deemed reliable but may contain errors or omissions, and is not warranted. Sales not reported to MLS (such as many new-development condo sales) are not reflected in these statistics.
07
Dec
2009
The Simple Truth: Paragon Newsletter
click for larger image
|
Sales Price to Original List Price Percentage This chart shows the average percentage of original asking price achieved upon sale when acting as listing agent. It is a truism that if the property is priced, prepared and marketed well, and the purchase contract is negotiated effectively, it will sell quickly at its highest possible price. When even a half percentage point in sales price equals thousands of dollars, Paragon agents average 5.6% above the city’s average sales-price-to-original-list-price percentage. On a $500,000 home, 5.6% equals $28,000; on a million dollar home, it equals $56,000. In this analysis, the home sales assessed are capped at $3,000,000, because at the higher end, most sales prices are confidential, which distorts the statistics. |
click for larger image
|
Average Days-on-Market This chart shows the average number of days it takes the listing agent to secure an offer acceptable to the seller on transactions which then proceed to a successful close of escrow. Again, if a property is priced, prepared and marketed effectively, typically buyers feel a sense of urgency to act quickly — with strong, clean offers. Paragon’s average days-on-market figure as listing agent is 4 weeks below the city average. Price the property right; prepare it to show in its best possible light; market it comprehensively; sell it quicker; sell it for more money. |
click for larger image
|
Average Sales per Agent Founded in 2004, Paragon is already consistently in the top 3 or 4 San Francisco brokerages in both dollar volume and unit sales. This chart illustrates the fact that Paragon also has the highest average number of sales per agent of any of the top 10 companies. According to the San Francisco Business Times, Paragon also closes the highest average number of sales per agent of any residential brokerage in the Bay Area with at least 100 agents. It’s not that we have more clients; it’s simply that we’re more effective at helping our clients achieve their goals in real estate. |
click for larger image
|
Changes in Market Share Year over year, Paragon had the largest increase in market share of any of San Francisco’s largest brokerages. When the market went into a tailspin after last year’s financial markets crash, we simply kept working and stayed focused on helping our clients with the purchase and sale transactions they needed or wanted to complete, doing our best to get them the best possible price and terms. That is our fiduciary duty. |
click for larger image
|
Characteristics of a Good Agent What does a good agent actually do for his or her client? We find that most people really don’t know. Here is a link to a list of those characteristics we believe a good agent incorporates in his or her practice. We believe it is these characteristics that lead to the best possible end result for our buyers and sellers. As the above charts make clear, if we take care of you, our market share takes care of itself. Characteristics of a Good Agent |
09
Nov
2009
Senators Agree to Extend Tax Credit for First-Time Homebuyers, Expanding It to Repeat Buyers
Senator Chris Dodd, D-CT, has been negotiating for several weeks with Senator Johnny Isakson, R-GA., to craft an extended tax credit for homebuyers that would pass the Senate. Last Wednesday, they announced agreement on a bill that would extend the tax credit for first-time homebuyers and offer a reduced credit of $6,500 to repeat buyers who have owned their current homes for at least five years.
The tax credit provides up to $8,000 to first-time homebuyers but is set to expire at the end of November.
08
Nov
2009
Homebuyer Tax Credit: New Eligibility, New Rules, New Provisions
Don’t worry! This is easy to read.
NAR Homebuyer Tax Credit Chart: published by the National Association of Realtors, this is a great synopsis of the latest version of the Homebuyer Tax Credit that has been approved by the government.
There is now a provision for a “homebuyer,” not just “first-time homebuyers.” As with anything, there are restrictions and limitations. Take a peek and call me with any questions.
03
Nov
2009
Current Conforming Loan Limits Extended Through 2010
President Obama has signed a resolution passed last Thursday by Congress extending the current limits for Fannie Mae, Freddie Mac, and Federal Housing Administration (FHA) loans through 2010.
The conforming loan limits determine the maximum size of a mortgage that Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac can buy or guarantee. Non-conforming or jumbo loans typically carry a higher mortgage interest rate than a conforming loan, increasing the monthly payment and negatively impacting affordability.
