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Blog Archives: May 2015

Put Your Game Face On: How to Negotiate with a Home Seller and Their Real Estate Agent

May 29, 2015
All real estate transactions come with at least some negotiations, and some transactions are heavily negotiated from start to finish. As a home buyer, you understandably want to negotiate the best overall deal possible while successfully reaching your goal of closing on the home you have fallen in love with. To be truly successful with this process, it is important that you understand how to negotiate with the seller and the seller’s real estate agent. Understand The Seller’s Position In order to be successful with negotiations, you will ...

Buying a Classic Older Home? Three Upgrades You’ll Need to Make Immediately

May 28, 2015
While some home buyers only want to live in a brand new home and will custom build a home to their specifications, others are drawn to the historic character and charm of a classic home. Older homes may have incredible architectural detail and special features that you simply do not want to change. However, there are some essential features that should be upgraded as soon as possible after you take ownership of your classic home. The Electrical Panel Many older homes were built at a time when electricity use was at a minimum, but the ...

Median List Price For Condos $1,099,000

May 27, 2015
The median list price in SAN FRANCISCO, CA this week is $1,099,000. 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. Supply and Demand While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We currently in a Seller’s market so prices will likely resume their climb should this trend persist. Price The market seems to have paused around this plateau. ...

Real Estate Investing: Why Buying Raw Land Can Be an Excellent Long-term Strategy

May 27, 2015
When many people think about investing in property, they think about purchasing income-producing real estate such as a residential property or an office building with tenants. There are indeed many benefits associated with investing in income-producing property. For example, these properties may produce rent that can offset your ownership expenses. However, buying raw land can also be an excellent long-term investment strategy. By learning more about the benefits of investing in raw land, you may be ready to start searching for real estate ...

Four Handy Tips for Managing Your Lawn After the Spring Rains Have Arrived

May 26, 2015
In many areas, the spring months mean warmer temperatures, more sunshine and plenty of beneficial rainfall that your yard may thrive with. These are prime growing conditions for your lawn, but they can also make lawn maintenance a challenge. By following these helpful tips, you can take better care of your yard during the rainy spring season. Re-Seed or Re-Sod Carefully The spring months are one of the best times of the year to re-seed or re-sod your lawn. If you have bare spots in your yard, these spots can turn into giant mud puddles ...

What’s Ahead For Mortgage Rates This Week – May 26, 2015

May 26, 2015
Last week’s economic reports included several readings related to housing The Wells Fargo/National Association of Home Builders Housing Market Index, the Commerce Department’s releases on Housing Starts and Building Permits, and the National Association of Realtors® report on Existing Home Sales supplied mixed news on recent developments in housing. Freddie Mac and the Labor Department released their usual reports on mortgage rates and weekly jobless claims. The details: NAHB: Builder Confidence Slips, But Remains Positive The Wells Fargo/ ...

You Ask, We Answer: How Does the Escrow Process Work when Buying a Home?

May 22, 2015
When you purchase a new home, escrow is a word that you will hear numerous times from different parties. There are several types of escrow accounts that will be established, and you may be wondering where your money will go when placed in an escrow account or how it is applied to your transaction. By taking time to learn more about the escrow process, you can be a more informed buyer. Your Initial Escrow Deposit Within a short period of time after your offer is accepted by the buyer, you will be required to make an escrow deposit to the ...

Multi-Generational Living: Our Guide to Buying a Home That Suits Your Whole Family

May 21, 2015
It was very common decades ago for several generations of a family to live together, and this may have included kids, parents, grandparents and even great-grandparents in some cases. Today’s modern homes are generally designed to accommodate a more traditional modern family, which includes only parents and kids or for only a married couple without kids. When you are buying a home for other generations as well, it is important for you to pay attention to a few important points. The Right Living Spaces and Accommodations Generally, a home ...

Save Some Additional Cash with Our Guide to Lowering Your Monthly Mortgage Payment

May 20, 2015
If you are like many other homeowners, your home mortgage payment is the single largest expense in your monthly budget. This is a fixed expense that you will typically be responsible for until your loan is paid in full or until you sell your home, and you may have a 15, 20 or even 30 year term on your mortgage. If your home mortgage payment has become unaffordable or burdensome for you to manage with your current financial situation, rest assured that you may be able to save some additional cash each month without selling your home....

Thinking About a Major Renovation? Three Reasons to Consider Adding a Second Story

May 19, 2015
When your home is no longer fully functional for your needs, you may be thinking about moving into a larger home with a more functional floor plan. While this is one option to consider, another option is to renovate your existing home. You could build a wing onto your home, or you could add a second story to the property. There are several reasons why adding a second story to your floor plan may be the best solution for you. Use the Existing Footprint When you build a wing outward from your home, you will need to pour more foundation and ...

Tuesday Tour for May 19, 2015

May 18, 2015
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. For help with San Francisco ...

What’s Ahead For Mortgage Rates This Week – May 18, 2015

May 18, 2015
Last week’s economic reports included data from the Federal Reserve on student loan debt, job openings and retail sales. Weekly jobless claims and Freddie Mac’s survey of average mortgage rates were released as usual on Thursday. A report on consumer sentiment wrapped up the week’s scheduled economic new. Federal Reserve: Student Loan Borrowers Struggle with Payments In two reports issued by the New York and St. Louis branches of the Federal Reserve, researchers found that high numbers of student loan borrowers are behind in making ...

Thinking About Selling Your Own Home? Think Again – Why You’ll Want to Work with a Real Estate Agent

May 15, 2015
There is no requirement for a homeowner to work with a real estate agent when selling a property, and many homeowners consider saving themselves the cost of a real estate agent’s commission fee in an effort to reduce costs and to keep more money in their pocket from the sale. While this may seem to make sense, the fact is that a real estate agent’s services have true value to you, and there are several key reasons why you want to work with a real estate agent when selling your home. Assistance With Pricing The Home Before you initially list ...

Buying a Rental Property? How to Choose Between Single-Family and Multi-Family Homes

May 14, 2015
Entering into the real estate market requires time and monetary commitment. Depending on the purpose for purchasing rental property determines whether one should invest in a single family or multi-family dwelling. In either case, one should prepare short or long term goals, be cognizant of his or her financial health and monetary comfort zone, and conduct a comparative market analysis before considering a real estate investment. Short Term Versus Long Term Investments For investment purposes, a multi-family dwelling provides the owner with ...

Real Estate Roundup: The Top 5 Apps to Use When Buying or Selling a Home

May 13, 2015
Whether you are buying property, selling property or both, the process can be challenging, stressful and even overwhelming at times. Just as you may use various mobile apps to streamline and simplify other aspects of your life, you can also use some well-designed apps to improve your overall experience when you are buying or selling property. These are some of the best apps for you to use as you move forward with your real estate plans. iBank This app is not free for you to download, but the small fee that you pay to use iBank may be well ...

Bernal Heights median sales price up 24.5% over last year

May 12, 2015
Single family home median sale prices are up 24.5% over last year, with an average of 18 days on the market. For a full neighborhood profile of Bernal Heights, click HERE If you’re interested in buying or selling in Bernal Heights or anywhere in the Bay Area, feel free to contact Michael Minson at michael@michaelminson.com or 415.606.2625.

Western Addition condo median sales price up 16.4% over last year

May 12, 2015
Condominium median sale prices are up 16.4% over last year, with an average of 29 days on the market. For a full neighborhood profile of Western Addition, click HERE If you’re interested in buying or selling in Western Addition or anywhere in the Bay Area, feel free to contact Michael Minson at michael@michaelminson.com or 415.606.2625.

Civic Center condo median sales price up 11.1% over last year

May 12, 2015
Condominium median sale prices are up 11.1% over last year, with an average of 21 days on the market. For a full neighborhood profile of Civic Center, click HERE If you’re interested in buying or selling in Civic Center or anywhere in the Bay Area, feel free to contact Michael Minson at michael@michaelminson.com or 415.606.2625.

Waterfront condo median sales price up 36.9% over last year

May 12, 2015
Condominium median sale prices are up 36.9% over last year, with an average of 17 days on the market. For a full neighborhood profile of Waterfront, click HERE. If you’re interested in buying or selling in Waterfront or anywhere in the Bay Area, feel free to contact Michael Minson at michael@michaelminson.com or 415.606.2625.

Staging Tips: Let’s Talk Landscaping and How to Prepare Your Yard for the Spring Bloom

May 12, 2015
When you are preparing to list your home for sale, you may take various steps to stage the interior so that it is appealing to a potential buyer. In addition to various steps you may take with staging the interior, you want to pay attention to your yard as well. During the spring months, many yards look fresh and vibrant, but they also need some extra care in order to boost curb appeal and make a great first impression on buyers. Focus On Your Flower Beds Whether you have one small flower bed or several sprawling areas of beds, you should ...

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