Daily Real Estate News | March 31, 2008
Shorenstein Co., a San Francisco commercial real estate management firm, is preparing for what CEO Doug Shorenstein says will be a great opportunity to buy property.
Shorenstein says tight credit markets and a declining economy will drive down lease rates and sales values, which will create a buying opportunity for those [...]
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Monica M. Pauli/TRI Coldwell Banker Recently listed 299 5th Street (at Folsom) into the San Francisco MLS. This single family home features 2 beds (both master suites)- 2.5 bath – 2 car garage parking – 3 fireplaces – a garden and a commercial space spread out over 2 stories – 3,291 square feet. List price: $2,149,000.
Michael Novia
South Beach Real Estate
415-637-2409 (24 [...]
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Daily Real Estate News | March 27, 2008
Jumbo Federal Housing Administration mortgages are likely to carry interest rates that are at least a 0.375 percentage point higher than rates on normal FHA loans, said Mahesh Swaminathan, a mortgage strategist at Credit Suisse in New York.
The current rate for a normal 30-year fixed-rate FHA loan is about 5.875 [...]
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41 Federal unit 42 located in South Beach was sold today at auction for $700,000. This property originally sold in 2006 for $835,000 – an additional $45,000 was then taken out of the property for a total loan amount of $880,000. The 100% financed loan was quickly defaulted on and the unit was eventually repossessed by the bank. It [...]
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Daily Real Estate News | March 25, 2008
Democratic presidential candidates Monday shared new positions on home foreclosures.
Hilary Clinton supported legislation proposed by Democrats Rep. Barney Frank of Massachusetts and Senator Chris Dodd of Connecticut that would “expand the government’s capacity to stand behind mortgages that are reworked on affordable terms.”
But she said a bipartisan group should determine [...]
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Daily Real Estate News | March 25, 2008
Federal prosecutors announced 19 indictments Monday in a mortgage scheme that stole nearly $13 million in home equity and victimized more than 100 home owners.
Under the scam, home owners facing foreclosure were promised lower home payments and cash up-front if they agreed to add another name to their home’s title. [...]
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Be patient. On average in SoMa you can save about 4% off the list price after a home has been on the market for 30 days or longer. This does not take into account any price reductions that may have occurred during this time. Sellers may also want to take this into consideration when determining the proper list price.
So far [...]
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Daily Real Estate News | March 24, 2008
Helping the kids buy a first home is a time-honored tradition that has become even more significant as home prices rise and incomes flatten.
Here are three ways parents can help their children:
Cash. For parents with the means, cash is clean and easy. An individual can give $12,000 a year [...]
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After 67 days on the market the 4 bed/5.5 bath penthouse at the Four Seasons sold for it’s asking price of $8,975,000. This home with city and water views has 2 master suites, maids quarters, separate service entrance, 10′+ ceilings along with a formal dining room, office and library spread out over 4,336 square feet. [...]
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Daily Real Estate News | March 20, 2008
The Federal Reserve’s rate cuts aren’t doing much to lower mortgage rate for new buyers, but they could help holders of existing adjustable rate mortgages.
Rates on home-equity lines of credit, credit cards and auto loans have all dropped. In addition, millions of homeowners won’t face higher rates as their [...]
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