Noe Valley


We are done with 2009. What’s behind us? In the fourth quarter ’09 the real estate market began to recover from the trauma of the financial market fallout that began in 2008. The quantity of homes and condos sold increased 5% over last year which ends a four year decline. Prices still were down however there are signs that there is competition in the marketplace again as properties sold closer to their asking price in Q4.  But talk to people that have been writing offers in 2009 and you will find many stories of buyers having to write *over* the list price to get the home.

I have detailed neighborhood reports for all districts in San Francisco. Shoot me an email and I will send it to you!

jdavis@mcguire.com

Jenn

Greetings!

Are you eligible for the $8000 “first time homebuyers” or the $6500 “move up buyers” tax credit? Read on…you may qualify but the deadline to act is April 30, 2010. Buying a home in 2010 may just fit in to your New Year’s resolutions.

The “first time homebuyers” tax credit is available for the purchase of principal homes costing $800,000 or less, meaning vacation homes are ineligible. The credit would be phased out for single tax filers with annual incomes above $125,000 and for joint filers with incomes above $225,000.

“Move-up buyers” who buy a new home don’t have to purchase a more expensive home than their previous home to qualify for the $6500 tax credit, but they need to have lived in their previous home for at least five consecutive years of the eight years prior to the purchase of the new home.

For more detailed information on this program and how to qualify,  email me and click on this link for answers. http://www.federalhousingtaxcredit.com/ I can supply you with a list of condos and homes that would be available to you under these guidelines.

Happy Holidays to you!

Jenn Davis

San Francisco Painted Ladies

San Francisco Painted Ladies

I have been working with a buyer for the past 6 months who wants to upgrade from a condo to a single family home. We all are aware the market has softened and the time is right to make a move.

My client finally found the home of her dreams last month but felt the market had not hit bottom and wanted to wait things out. See if the Sellers would drop their price. Sure enough, another buyer thought this home was their dream home too and made an offer that was accepted immediately. Surprised and disappointed, my client continued her search.

The next dream home surfaced just a week later. The listing agent set an ‘offer date’! (what year is this – 2005?) and would not entertain offers until there had been 2 Sunday open houses. The offer date arrived. Three offers (including ours) were presented. The offer that was accepted was head and shoulders above our offer. The Sellers didn’t even bother to issue a counter. The belief was it is best to accept the top offer than to take their chances in issuing a counter (what if the buyer went away? they felt).

I’ve also seen two fixer single family homes go into contract in under 10 days.

I know we are in a softer market. But it is not a market that can be generalized. The nicer properties, priced well, will go alarmingly fast. My perspective is why wait? If you see a property that fits your needs, write your best offer now. Many times, the first offer in is the best offer. Sellers know that. But even if a Seller does not know that, an agent representing you knows that. Just my 2 cents.

Jenn Davis jdavis@mcguire.com

299 Santa Paula

299 Santa Paula

Hot Properties for this week, February 10th, 2009

Starting with St. Francis Wood… 

 
 

 

Check out this Mediterrean Villa at 299 Santa Paula! A gorgeous 5Br, 5.5BA, 4 car garage home listed for $5,900,000! This is one of the more stunning homes in San Francisco. You gotta see it!

521 Hill Street

521 Hill Street

 Let’s move to

 
 

 

Noe Valley….521 Hill Street is a well priced 3BR, 2BA Marina style home located on a very desirable block in Noe Valley.  It comes with a lovely south facing yard…great light! At $1,399,000 this is a great deal.

More questions or just curious? Email me…

jdavis@mcguire.com

www.jenndavis.com