Have a great week! Be safe and enjoy your friends and family. See you on Jan 2.
Michael Novia
South Beach Real Estate
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Happy Holidays
Posted on December 24, 2007 by Michael Novia
Bush Signs Mortgage Tax Relief Into Law
Posted on December 21, 2007 by Michael Novia
Daily Real Estate News | December 21, 2007
President George W. Bush signed legislation into law on Thursday that will ease the tax burden for home owners who have had debt forgiven on a mortgage due to a foreclosure, short sale, or deed in lieu of foreclosure. The bill — Mortgage Forgiveness Debt Relief Act — has been [...]
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Good Neighborhoods Keep Improving
Posted on December 21, 2007 by Michael Novia
Daily Real Estate News | December 21, 2007
What Forbes magazine calls the nation’s “blue-chip” neighborhoods have been little affected by the housing downturn.
Properties in these well-established areas have held their value and in many cases have increased just as steadily in the past two years as they have in the last 17.
These neighborhoods in the country’s 15 [...]
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Transfer Tax: Who Pays and How Much?
Posted on December 21, 2007 by Michael Novia
The Transfer Tax on Real Property is based on the total value or consideration for the property.
$100 to $250,000: $2.50 per $500 of value.
$250,000 up to $1,000,000: $3.40.
$1,000,000+: $3.75.
Who pays the Transfer Tax?
Most often in San Francisco the seller pays the Transfer Tax. Two exceptions are if you purchase property through probate or in a [...]
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2007 Top 5 Sales Prices for Mission Bay
Posted on December 21, 2007 by Michael Novia
330 Mission Bay Blvd #606 (Pending) - Estimated $2,347,900.
325 Berry St #726 – $1,947,900.
255 Berry St #610 – $1,750,000.
255 Berry St #710 – $1,680,000.
255 Berry St #609 – $1,605,000.
Radiance comes in with the with the highest sales price for the year with an estimated $2,347,900 for a 1,772 sq ft 2 bed/2bath penthouse with panoramic views of the city and bay. Park [...]
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Update: BLU
Posted on December 17, 2007 by Michael Novia
The highly anticipated opening of BLU has been postponed most likely until the beginning of March. The developer, Lennar Corporation has a few loose ends to tie up with the city, and as we all know city hall was not built for speed. Stay tuned for the “possibility” of a soft opening sometime early to mid first quarter.
Michael Novia
South [...]
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1234 Howard; Only One 2 Bed Home Left
Posted on December 17, 2007 by Michael Novia
Video of 2 bed home
One - 2 bedroom available $799,000 (second floor model unit).
Three - 1 bedrooms available: 2 on 3rd floor for $639,000 (both with outdoor space), 1 on 4th floor for $679,000.
One - Studio on 2nd floor for $399,000, now staged.
Michael Novia
South Beach Real Estate
415-637-2409 (24 hours)
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Groups Warn Seniors to Beware of Reverse Mortgages
Posted on December 17, 2007 by Michael Novia
Daily Real Estate News | December 17, 2007
The U.S. senior community is warming up to reverse mortgages, but the product’s increasing popularity also is breeding a new crop of unscrupulous brokers, lenders, and loan agents who are taking advantage of the nation’s elderly.
In general, reverse mortgages allow home owners who are 62 and older to borrow [...]
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Just Sold
Posted on December 17, 2007 by Michael Novia
219 Brannan St #1F – 1 Bed/1.5 Baths/1 Parking/1,266 Sq Ft. Neighborhood: South Beach. Days on Market: 48. List Price: $779,000. Sold Price: $779,000. No price reductions.
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Looking Good; New Condos at 1501 Greenwich
Posted on December 14, 2007 by Michael Novia
Located in Cow Hollow, these condos unless ridiculously overpriced will sell quickly. Sales and pricing due in February. Here’s a link to their website. Not much there yet. Mentions that the building will consist of 1, 2 and 3 bed homes, some with bay and bridge views and private decks. It is projected [...]
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