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Blog Archives: November 2014

Buying a Home with a Mortgage? A Quick Guide to Closing Costs and What to Expect

November 28, 2014
Whether you’re just starting to shop for a new home or you’ve already found the perfect new house and you’re ready to submit an offer, if you’re taking out a mortgage loan to cover some of the home’s purchase price you should be aware of the various closing costs you may encounter. In today’s blog post we’ll share a quick guide to closing costs and what you can expect to pay when you buy a new home. What Closing Costs Do Buyers Typically Pay? As you move forward in the home purchase process you’ll incur a variety of fees that cover ...

Median List Price for San Francisco Condos is $989,500

November 26, 2014
The median list price in SAN FRANCISCO, CA this week is $989,500. Inventory has been decreasing lately but the Market Action Index is falling also. With days-on-market climbing, these are relatively negative implications for the market. In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory.  However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb. The market seems to have ...

Case-Shiller Home Prices: Price Growth Slows in September

November 26, 2014
According to the Case-Shiller National Home Price Index, annual home price growth slipped to a seasonally-adjusted rate of 4.80 percent in September. This was 0.30 percent lower than August’s year-over-year reading of 5.10 percent. Cities posting the highest year-over-year gains in home prices were Miami, Florida 10.30 percent, Las Vegas, NV with a gain of 9.10 percent, San Francisco, California posted a gain of 7.90 percent, Dallas home prices gained 7.40 percent and home prices increased by 6.70 percent in Portland, Oregon. David M....

You Ask, We Answer: Should I Consider a Warranty when Buying a New Home?

November 25, 2014
Are you buying a new home? If so, you’ve likely pondered whether or not you should invest in a warranty to protect your investment. In today’s blog post we’ll briefly explore home warranties including some of the pros and cons of buying one and how they differ from homeowner’s insurance. The Benefits of Buying a Home Warranty Home warranties are an excellent solution if you’re buying a brand new home which has a lot of new appliances and fixtures inside of it, or if you’re not really the “do it yourself” type and would prefer to make a ...

Tuesday Tour Schedule Released – 10 Pages_11.25.2014

November 24, 2014
Tuesday tour (aka Broker’s Tour) is not just for brokers anymore – the public is invited and welcome to attend. In fact, it’s one of SF’s best kept real estate secrets. Many of the properties on the tour are open for the first time. For serious buyers, this is a great opportunity to get a sneak peak before the weekend crowds. Plus, many of the open houses are catered – BONUS! Click HERE for a full schedule I go out just about every week to scope out what’s hot and what’s not and report back to my clients. We had 18 pages last week. This ...

What’s Ahead For Mortgage Rates This Week – November 24, 2014

November 24, 2014
Last week’s scheduled economic news included the NAHB/Wells Fargo Housing Market Index, Housing Starts and Existing Home Sales. FOMC meeting minutes were released along with weekly Freddie Mac mortgage rates and weekly jobless claims. In addition, the National Association of Realtors® suggested that FHA should lower its mutual mortgage insurance premiums (MMI) as its fund for paying claims has normalized since recession. Homebuilder Confidence Nears Nine-Year High The National Association of Home Builders/ Wells Fargo Housing Market Index ...

The 3 Minute Guide to Real Estate “Flipping” and How to Get Moving Today

November 21, 2014
If you’ve been thinking about investing in a real estate project you may have considered buying a distressed house or two at a steep discount in order to fix them up and sell them at a higher price. This is known as “flipping”, and in today’s post we’ll share a quick guide to flipping homes and how to get started with this type of real estate investing. Assessing Your Budget and Tolerance for Risk We’ll start by stating the obvious: when you buy real estate with the intent of flipping it, losing money is a very real possibility. You’ll need ...

FOMC Minutes: Economy Growing, Housing Lags

November 20, 2014
Minutes of the Federal Open Market Committee (FOMC) meeting held October 28 and 29 were released Wednesday. The report suggests that the U.S. economy continues to improve, although the annual inflation rate remains near 1.50 percent and short of the committee’s goal of 2.00 percent. Falling crude oil prices were cited as a cause of faltering inflation rates. The minutes indicated that FOMC members expect inflation to remain below the 2.00 percent benchmark for the next year or so. The minutes did not reveal an exact date for raising the ...

Median List Price for San Francisco Condos is $974,500

November 19, 2014
The median list price in SAN FRANCISCO, CA this week is $974,500. Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market. Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks.  This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues. The market seems to have paused around this plateau. The Market Action Index is a ...

Failed Negotiations: What to Do when the Seller is an Immovable Object

November 19, 2014
Once you’ve found the perfect new home and delivered your first offer to the seller, you may find that they return with a counteroffer or a flat out refusal. Negotiation is part of the home buying process, but at times you may feel like the seller is the one holding up the deal due to their approach or attitude. In this blog post we’ll share a few ways to manage an unreasonable or stubborn home seller so you can get the deal closed. Ask Yourself: Are Your Demands Reasonable? Before trying to figure out how to work the seller from a ...

Selling Your Home? Give Your Bathrooms a Facelift with These Three Quick Tips

November 18, 2014
Are you getting ready to sell your home? As soon as your listing goes live you’ll begin entertaining potential buyers who will be inspecting your home from top to bottom to ensure it meets their needs perfectly. Your bathrooms will be a key area of focus and you might be surprised to learn that the look and feel of these small rooms can make or break a sale. In today’s blog post we’ll share three quick tips for renovating or upgrading your bathrooms to freshen up their look before potential buyers start viewing your home. Clean Your ...

Tuesday Tour Schedule Released – 18 Pages_11.18.2014

November 17, 2014
Tuesday tour (aka Broker’s Tour) is not just for brokers anymore – the public is invited and welcome to attend. In fact, it’s one of SF’s best kept real estate secrets. Many of the properties on the tour are open for the first time. For serious buyers, this is a great opportunity to get a sneak peak before the weekend crowds. Plus, many of the open houses are catered – BONUS! Click HERE for a full schedule I go out just about every week to scope out what’s hot and what’s not and report back to my clients. We had 20 pages last week. This ...

What’s Ahead For Mortgage Rates This Week – November 17, 2014

November 17, 2014
Last week’s housing related news was lean, with no scheduled reports released other than Freddie Mac’s primary mortgage market survey. We’ll start with some good news. The University of Michigan / Thompson-Reuters Consumer Sentiment Index reported its highest reading in more than seven years. November’s reading of 89.4 surpassed the expected reading of 88.0 and was higher than October’s reading of 86.9 Mortgage Rates Near 4.00 Percent, Weekly Jobless Claims Up Freddie Mac reported a one-basis point drop in the average rate for 30-year ...

How to Use a Mortgage Calculator to Determine Your Monthly Payments, Interest and More

November 14, 2014
Are you thinking about using a mortgage to buy a new home? Buying your own piece of local real estate is a major financial investment and one that can require some pretty complex math to fully understand. In this blog post we’ll discuss mortgage calculators and how to use one of these tools to determine your monthly mortgage payments, interest charges, amortization periods and more. Determining Your Principal and Down Payment Amounts To get started with a mortgage calculator you’ll need to know how the price of the home and how much you ...

Median List Price for San Francisco Condos is $995,000

November 13, 2014
The median list price in SAN FRANCISCO, CA this week is $995,000. With inventory and days-on-market basically unchanged and the Market Action Index increasing, the market is not sending strong directional signal for the near-term outlook. Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks.  This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues. The market seems to have paused around this plateau. The Market Action Index is a good ...

Save Money on Your Home Energy Costs This Winter in Just Three Easy Steps

November 13, 2014
It doesn’t matter if you heat your home with electricity, natural gas or some other energy source; prices continue to rise and that means increased heating costs for most of us. In today’s blog post we’ll share three easy ways that you can save money on your home energy costs this winter. Install and Use Programmable Thermostats Now that Nest and other companies have brought Wi-Fi enabled, programmable thermostats on the market there’s very few excuses to avoid using them. At bare minimum you’ll want a digital thermostat that can be ...

Yard Staging: How to Stage Your Front and Back Yard to Appeal to Home Buyers

November 12, 2014
Whether you’re just listing your home for sale or you’ve already started entertaining potential buyers, focusing on your “curb appeal” can drastically increase your chances of a quick and successful sale. In today’s blog post we’ll discuss how to stage your front and back yards in order to make them seem more inviting and welcoming to home buyers. It All Starts with a Great Lawn Whether you’re standing on the street looking at the front of your home or you’re on your patio looking out over your back yard, your lawn sets the tone and is one ...

Bernal Heights Median Home Value is at $1.1M

November 11, 2014
The median estimated home value in Bernal Heights was $1.1M. The median home value in San Francisco was $975K. Most homes sold were over 105 years old and had two or three bedrooms.  However, there is a considerable amount of variation. For a full neighborhood profile of Bernal Heights, click HERE. If you’re interested in buying or selling in Bernal Heights, don’t hesitate to call.  I specialize in helping buyers and sellers here.  Contact Michael Minson at michael@michaelminson.com or 415.606.2625.  

Inner Richmond Median Value is at $1.45M

November 11, 2014
The median estimated home value in Inner Richmond was $1.45M. The median home value in San Francisco was $975K. Most homes sold were between 100-125 years old and had two or three bedrooms.  However, there is a considerable amount of variation. For a full neighborhood profile of Inner Richmond, click HERE. If you’re interested in buying or selling in Inner Richmond, don’t hesitate to call.  I specialize in helping buyers and sellers here. Contact Michael Minson at michael@michaelminson.com or 415.606.2625.

Hayes Valley Median Value is at $1.1M

November 11, 2014
The median estimated home value in Hayes Valley was $1.1M. The median home value in San Francisco was $975K. Most homes sold were between 10-20 years old and had two bedrooms.  However, there is a considerable amount of variation. For a full neighborhood profile of Hayes Valley, click HERE. If you’re interested in buying or selling in Hayes Valley, don’t hesitate to call.  I specialize in helping buyers and sellers here. Contact Michael Minson at michael@michaelminson.com or 415.606.2625. ​  

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