SFMike's Blog - SF Real Estate

The San Francisco Real Estate Market is a changing again...

You know the market has changed when prepping for an open house means you've hit the copier button to run another twenty statements just to be sure you have enough.  Yes it may be a Superbowl Sunday  and the Saints and Colts be on the field, but the real buyers are setting up their DVR's and Tivo's to record the game so they can get out and see what new listings have sprung up on the market since the rains!  

Yes Spring is definitely here in San Francisco.  The "official" groundhog may not have seen his shadow, a harbinger of six more weeks of Winter, but as far as our San Francisco Real Estate Market, Spring is NOW.   Our buyers are starting to compete against other offers and a flurry of activity is seen at our past two sales meetings.  Mortgage brokers and direct lenders I regularly speak with are letting me know they're busy again.

We currently have a few listings out there and I better get away from the computer to run some more property flyers.  If you or someone you know is looking to buy or sell real estate in San Francisco, please do not hesitate to call upon us.

A sampling of our three properties we're holding open this Superbowl Sunday:

Excelsior Single Family Home  -   Noe Valley Condo  -  Eureka Valley Condo

 Michael Ackerman - Oliver Burgelman - Zephyr Real Estate - San Francisco - February 7, 2010

If you are out there looking at property in the Noe Valley or Eureka Valley you may have to move a little faster to committing an offer in writing.  We've been seeing an increase in activity particularly in the $600,000 - $900,000 price range.  As always location and proximity to the commercial corridors such as 24th Street, Church Street, Castro and Market Street.

We've just recently seen a few properties garner multiple offers on both sides of Liberty Hill!

You may wish to view our newest listing along the Church Street corridor in Noe Valley.



Open Sunday, February 7th from 2 - 4 pm

147 Day Street # 4@ Church, San Francisco, CA 94131
Click on the link and enjoy the video!


Michael Ackerman / Oliver Burgelman 
Zephyr Real Estate - Noe Valley Office
4040 24th Street, San Francisco, CA 94114
415-695-2715
ABZ@ZephyrSF.com

Nöel Valley’s Fourth Annual Holiday Block Party!

San Francisco’s Noe Valley holds it’s 4th annual holiday event, the Noel Stroll on Saturday, December 5, 2009.

Noe Valley's 24th and Church Streets unique mix of boutiques, gift shops, restaurants and cafe's will be hosting a blissful late afternoon and early evening of holiday events to help you get all your shopping done. Enjoy local carolers, special instore promotions and festive libations during Nöel Valley’s Fourth Annual Holiday Block Party.

Santa at Zephyr Real Estate will be available from 11 am to 2 pm for photo opportunities and 4:30 pm to 7:30 pm for wishes at Zephyr Real Estate - 4040 24th Street.

Holiday Wagon Ride

4:30pm

7:30 pm

Loading at Walgreens on Castro Street.

"Noel Stroll Official Website"

Join us for a festive evening in Noel Valley!

Check out the YouTube of the Noel Stroll

The other day I received this question in my mailbox...

To which my answer is clearly - Why yes of course you can buy a house in San Francisco with an FHA loan!

Point yourself in the direction of your 'favorite' bank with whom you already have a relationship. If you don't really have a 'favorite' bank then search out a good mortgage broker, I have several names I'd be happy to send you without obligation. FHA is restrictive with whom they certify, so make sure whomever you speak with is certified! The good people at Guarantee Mortgage are my favorite! (www.gmwest.com)

In addition, FHA loans have substantially more complexity to them, but the reward is great when it means you can realize the goal of homeownership as a first time buyer with as little as 3.5% down.

Believe it or not, you can even buy 2 - 4 units with an FHA loan as the loan amounts step up with the addition of each unit up to 4 total. Honestly you will be surprised after talking with a lender at what YOU CAN AFFORD!

One-family Two-family Three-family Four-family
FHA Limits $729,750.00 $934,200.00 $1,129,250.00 $1,403,400.00

In some cases, FHA will allow you to count up to 95% of the income of rental property to quality. FHA is a complex program and NOT everyone is conversant in it's complexities and nuances. You definitely want to speak to a lender who knows the rules, after you are pre-approved, then you are in a position and ready to SHOP for your first home. }:-)

Mike Ackerman, CRS, e-Pro
Zephyr Real Estate - Noe Valley
415-695-2715
ABZ@ZephyrSF.com

www.zephyr-realestate.com

CAN YOU HEAR ME NOW???  FHA must now be the new Sub Prime!!!

Last week by a show of hands at our Wednesday sales meeting of nearly 200 agents it was anectdotally confirmed that the majority of our deals at our 7 offices were FHA deals??? 

How did that happen?  FHA was a language, not unlike Sanskrit, long forgotten in the San Francisco real estate market as loan limits were too low for anyone to really use. ($417,000 - the 'old' conforming loan limit.)  Now that the the jumbo conforming loan limit is up to $729,750 any number of properties are within range of buyers who have less than 20% down.

2 of the 10 escrows I currently have open are FHA and they for some reason are closing easier and faster than the escrows with 20% or more down.  Hmmm... What does this say about lending?  

Apparently:

If you have 20% or more - you will be asked for additional documentation as to where the down-payment came from, in addition it seems that 20% or more borrowers are subject to greater scrutiny.

If you have less than 20% down and are willing to pay mortgage insurance you can PURCHASE a qualifying home up to the limits allowed with less documentation and if you have extra $$$$ - YOU can hold onto it for reserves and repairs.

If packaged right under the FHA-203(k or b) guidelines you can even finance repairs and wrap it all into one loan under FHA guidelines.

In short - FHA loans have become our new sub-prime mortgage market as it fuels a bottom up recovery of our housing market.

So my advice to listing agents who are skittish about accepting an offer from FHA buyers - THINK AGAIN!!!  The loan process apparently is smoother as only FHA CERTIFIED mortgage brokers or direct lenders may originate these loans.  Typically in SF - the FHA CERTIFIED lender is more experienced, has a bigger pool of resources and can get possibly even get the loan with less hiccups than the conventional lender/mortgage broker.  Wow - I've since learned to speak Sanskrit - er uh FHA since it's now the de-facto language of properties selling up to about $800k in San Francisco.

If you're a buyer interested in contacting an FHA Certified Mortgage Broker or Direct Lender - let me know and I'll put you in touch with three that have performed well for my clients! 

Michael Ackerman, Zephyr Real Estate, 415-695-2715

ABZ@ZephyrSF.com

Garfield Square Homes - SOLD OUT!

All Units SOLD OUT over the past month!  Indicating a revitalized interest by today's buyers who want to live in the Sunny Mission.

It helped of course that these units were refinished in the spririt of the period's Victoriana!  These exquisitely remodeled flats located across from Garfield Square Park feature; period fixtures, wainscoting, polished softwood floors, huge kitchens with carrera marble countertops, stainless appliances and huge pantries.  In addtion the lovingly restored mantels framed gas hearth fireplaces in many of the units.  Each unit was complete with washer/dryer hookups, additional storage, intercom and alarm systems.

Across the street from Garfield Square complete with swimming pool and just steps from trendy Mission shopping, restaurants, BART, MUNI and freeway access. 

• 1286 Treat - 2 Br 1 Ba - $419,000 - 1,018 sq ft* - Sold!
• 1288 Treat - 2 Br 1 Ba - $369,000 -    907 sq ft* - In Contract! 
• 1290 Treat - 2 Br 1 Ba - $359,000 -    907 sq ft* - In Contract!
• 1292 Treat - 2 Br 1 Ba - $419,000 - 1,018 sq ft* - Sold!
• 1294 Treat - 3 Br 1 Ba - $499,000 - 1,275 sq ft* - Sold!
• 1296 Treat - 3 Br 1 Ba - $469,000 - 1,204 sq ft* - In Contract!
• 1298 Treat - 3 Br 1 Ba - $419,000 - 1,120 sq ft* - In Contract! 

* Square footage per Surveyor - Agents nor owner warrant square footage. 

*  Sold Out - We know TIC's/Condo's in the Mission *

Let us help you find your new home!

Hayes Valley Victorian Elegance...

Downtown Views, Polished Wood Floors, Remodeled Kitchen & Baths
- All Coming Soon...

Imagine your very own San Francisco Victorian Flat set amongst a whole row of Victorians, looking across to City Hall's grand renovated dome. Enjoy the closeness to everything - You can walk everywhere and yet up the stairs away from it all you'll find this beautifully detailed and elegant Victorian home awaits.

Big Scale = Three large bedrooms and a Double Parlor make Four! Two and half fully remodeled bathrooms. Live large in this grand scale living room with decorative fireplace. The bay windows capture afternoon light and views to City Hall's dome and SF's Financial District.

Entertain in style from this formal dining room complete with bay window and decorative fireplace. A real chef's kitchen and a quarry of beautiful granite countertops is designed for real living and adjacent to the covered deck. Here you can enjoy Southern exposures, views over the beautiful green belt and shared garden every season of the year...

Watch for it! Showing Soon! This recent condo conversion complete with parking awaits it's new owner!

Check out the following links for more neighborhood info:

- SuppenKuche Restaurant
Discover: Excellent German cuisine presented in classic central european setting.

- La Boulange Bakery - Cafe'
Discover: Fresh baked breads, pastries and a sidewalk cafe'.

- Patxi's Pizza
Discover: Pizza Chicago Style. A friendly place where the pizza is an art.

- Stack's Restaurant
Discover: American comfort food; Breakfasts and Lunch. As much a delight to eye and pallette.

- Il Borgo Italian Restaurant
Discover: Northern Italian cuisine in a authentic atmosphere and reasonable prices.

- Hayes Valley Neighborhood Association
Discover: The Hayes Valley! Local neighorhood association.

- www.Zephyr-RealEstate.com (415) 695-2715 Hotline and Message Center
mailto:ABZ@ZephyrSF.com Michael Ackerman / Oliver Burgelman - Local SF Expertise

Victorian Condo in the Castro $549,000
1+ Bedroom, 1 Bath, Fireplace

* * NEWS FLASH * *  APPRAISAL IN - and the Beat goes on...  Waiting for Bank Approval

The short sale saga continues - 5 weeks of waiting for our SunTrust Loss Mitigator to respond to our many calls, faxes and emails.  We've worked with Wells Fargo Bank and Bank of America before and thought SunTrust might be easier... Hmmm... Seems to be the same in all cases.   Hurry up and wait.  Be persistent, patient and polite.  

The bank is lucky to have a great offer and another in backup.  But what the heck is the lender doing???  We know, we know - The receive hundreds of calls, thousands of faxes and a limited staff takes their time to approve anything...   

Click to the website for more details at: http://www.238hartford.com/

Check out the slide show: SF Stylish Living in the Castro

• 1+ Bedroom, w/Den/Office/Nursery
• 1 Bath
• Living Room w/ built-ins
• Remodeled Kitchen
• Storage & Laundry downstairs
• Steps from transit
• HOA $195 per month
• Built 1911 per Tax Records

This beautiful Victorian-era condominium in a 3-unit Home Owners Association sits on a tree-lined street in the heart of the Castro. Walk just a few steps to shops, restaurants, and bars. You can't find a more quintessential San Francisco location. The condo offers one large bedroom with fireplace, plus a smaller bedroom that works great as a child's room or office. The living room and eat-in kitchen are full of light and look out onto the large yard that includes a built-in stone BBQ.

See more at: www.238Hartford.com/

Michael Ackerman - Oliver Burgelman – Rosana Vantuyl – Zephyr Real Estate
415 695 2715 or email to: ABZ@ZephyrSF.com

View our other current listings and past sales: http://www.zephyr-realestate.com/

Barrel Fronted Marina Style Home

A beautiful barrel fronted Marina style home exemplifying 1920’s detailing. 

The living room features a woodburning fireplace, built ins and western light!  A formal dining room and huge eat-in kicthen with skylights.  Hardwood floors and plenty of closets throughout. 

Parking for two or maybe more vehicles and plenty of storage.   A fenced level yard will would be a dream for any gardener… 

Close to transit, Outer Mission shopping at a condo price, opportunity is knocking! 

* * NOT A SHORT SALE - NOT A BANK OWNED PROPERTY * *

- The Broken Record Restaurant  

  Discover: A delightful bar and soul food eatery in the  Excelsior!

 - Italian American Social Club - Restaurant, Bar and Hall  

  Discover: A true taste of Old San Francisco and old Italian connections to the Excelsior!

 - North Beach Pizza 4787 Mission Street - Excelsior District   

  Discover: A taste of North Beach in the Excelsior - take out, delivery or eat here!

 - www.Zephyr-RealEstate.com 

Please view our other current offerings and past sales
http://www.zephyr-realestate.com/zephyr3_011.htm

Take a peek at our other property offerings...
http://www.GarfieldSquareHomes.com - $359k - $479k 2 - 3 Br Victorian Flats - Mission TIC Value
http://www.1026Folsom.com $729k - SOMA Lifestyle - Incredible space - Park Views - Pet Friendly
http://www.638Minna.com $699k - SOMA Central Living - 2 Br - 2.5 Ba - Roofdeck - Good Feng Shui

Michael Ackerman - Oliver Burgelman - Rosana Vantuyl
Zephyr Real Estate - 415 695 2715 - email to: ABZ@ZephyrSF.com

GOT JUNK? -- Don't know what to do? Call the Bulk Item Pick Up Program (BIC)

To Schedule Collection Service, Call:

Sunset Scavenger Company: (415) 330-1300

- or -

Golden Gate Disposal & Recycling Company: (415) 626-4000

The phone number should also be on your garbage/scavenger/trash bill

-or- You are just a click away:

San Francisco Recycling

If you call, please tell the customer service representative exactly what items are to be collected. Call by noon and arrange a next day pick up! Monday through Friday. Call by noon on Friday to schedule Monday service. Residential paying customers are entitled to two BIC collections per calendar year. Customers with more than ten items can arrange for the collection of additional items, combining with a RecycleMyJunk.com collection. Additional appointments scheduled through RecycleMyJunk.com program. Large appliances such as refrigerators, washing machines and stoves are limited to one of each type per collection.

If you see JUNK left out on the street without a "BIC" sticker, you may wish to call "311" on your phone and speak with a live City representative who can help you report an abandoned mattress, appliance or auto part!

It's important we all take responsibility in keeping the neighborhood clean as it makes for a great city to live in!

Provided as a courtesy by: Michael Ackerman & Oliver Burgelman

Zephyr Real Estate 4040 24th Street, San Francisco, CA 94114

415-695-2715 - http://www.zephyr-realestate.com/ -

Email to: ABZ@ZephyrSF.com

DRE License: 01232037 & 01388135