Blog Posts By Date: December 2020
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Owning a home is a huge undertaking but a potentially rewarding one. When you buy a place of your own, you get to build equity in an asset that can increase in value over time. You also gain the stability of not having a landlord who can decide to renew your lease or not. But if you think that 2021 is the year for you to buy a home, you should know what the housing and mortgage market could have in store. Here are a few things to keep in mind:
You might pay more than you think:
According to the Mortgage Bankers Association, the average buyer took out a $375,000 mortgage to purchase a home as of late November. Home values across the country have skyrocketed in 2020, and once 2021 kicks off, they're apt to stay that way. If you're hoping to buy in 2021, prepare to pay a premium, especially early on in the year, when prices and inventory will likely be comparable to what they are now. We recommend you take some time this year to review your budget and then establish an outer limit for what you can pay. more...
This blog post will update with the most recent changes around this listing.
We are glad to announce that this attractive income property/fixer-upper in the Temescal neighborhood is now pending sale! 5425 Shattuck Avenue comes with tenants paying rent, period details throughout the home, and an incredibly spacious backyard with small cabin. This 4-bedrooms, 2-bathroom home could be a great handyman's fixer-upper or a flippers dream — Take a look at these images below:
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Photo by Irina Iriser on Unsplash.
In an unusual turn of events, the Board of Supervisors on Tuesday rejected a proposed ban on smoking or vaping tobacco in apartments that it voted for just last week. The board must approve legislation in two separate votes.
Ordinarily, the second vote is perfunctory. But not this time, as Supervisors decided not to approve Board President Norman Yee’s proposed ban on smoking in apartments on its second vote after approving the proposal last week in a 10-1 vote. This time the board split a 6-to-5 vote to send the legislation back to the committee. more...
Photo by Vlada Karpovich from Pexels
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Photo by Nicole De Khors from Burst
The Board of Supervisors approved a ban on smoking tobacco in buildings of three or more units. Introduced on November 3rd, this ordinance faced a vote before the full Board of Supervisors on December 1st. The ban makes San Francisco among 63 cities and counties in California to have smoke-free multi-unit housing and crowning San Francisco as the largest city in the country to adopt a smoke-free policy.
This ordinance amends the Health Code to prohibit smoking inside all private dwelling units in multi-unit housing complexes containing three or more units and all common areas, along with the following details: more...
The housing market has had a spectacular recovery since May, but at the same time, home prices have been surging. This post will explore the levels of difficulty for renters to achieve the dream of homeownership with the data presented by the National Association of Realtors.
38% of renters can afford to buy a home but need 13 years of savings to make a 10% down payment:
As mortgage rates have fallen and incomes have increased. The fraction of renters who can afford to purchase a home has increased from 33% in 2018 to 39% as of 2020. However, as of 2020 Q3, the fraction of renters that can afford a home has increased since 2018 to 39%. more...
This blog post will update with the most recent changes around this listing.
We are glad to announce that this newly-renovated home in Melrose at 5329 Wentworth Avenue has now sold! This fully remodeled and upgraded home features three bedrooms, two bathrooms, and a spacious backyard with mature fruit trees. This light-filled craftsman's style home also features an expansive private backyard, perfect for hosting those family gatherings or socially distanced BBQs. more...
SFBoS staff, Public domain, via Wikimedia Commons
On November 18th, 2020, the Budget and Finance Committee recommended approval of the Housing Inventory, or Rent Registry legislation. Hundreds of San Franciscans called into the hearing, with a ratio of 8 out of 10 callers opposing the proposal. Nonetheless, the committee looked to bring the approved legislation to the full Board of Supervisors at their private meeting this past Monday, December 1st, 2020 — which was approved by the full Board of Supervisors.
According to track landlord-tenant relationships, inspect and investigate housing services and rents, and better administer the rent ordinance.” more...
Seasoned home buyers know that winter is usually the right time to begin househunting since many of their competitors wait until spring. But this winter, buyers may notice that despite the cooler temps and the holidays, they’ve got company — in fact, lots of it. COVID-19 kept buyers on lockdown for most of the spring season, so many are making up for the lost time by home shopping aggressively now.
Because of that, this winter is shaping up to be a seller’s market, with low real estate inventory, high prices, and bidding wars that could give new buyers seasoned competition. But buyers should not give up on purchasing this season. They’ll have to house hunt in new ways to win their homes. Here are a few strategies that will keep you ahead of the competition to get you in a new home by the new year. more...