Baseball season has begun and we’re starting to see buyers sliding into home. Yes, from all indications, the Bay Area real estate market is blooming just in time for spring. We were even able to squeeze a few positive headlines out of the media this week after NAR announced an unexpected increase in February sales figures, and CAR announced that sales have been increasing each month in our state for the past four months. Compared to this time last year, the reports still indicate very slow sales. But a dip in the median price, a copious selection of homes on the market in many areas and near-historically low mortgage rates are enticing buyers off of their fences. According to CAR, a number of cities in our area are starting to see increases in median prices again, which may be an indication that those markets are already bouncing back. Some who may have been waiting for the “bottom” in some areas may have missed it.
City beautiful?
28 03 2008
District 11 Supervisor Gerardo Sandoval’s legislation empowering Planning Department inspectors to issue citations for having an illegally paved-over front yard (or other planning code violations) has received initial approval by the San Francisco Board of Supervisors.
The motivation is usually to gain an extra parking space, but Sandoval said the violation reduces the beauty of the neighborhood. Also, he said, when the rain has no place to go, it will flow into The City’s storm drains, putting the area at risk to flooding.
The questions remain, will the inspectors start citing and will property owners actually respond without a bigger stick (the maximum fine of $500 is peanuts relative to the value of a parking space in the city).
Read more:
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Categories : Government - San Francisco, Real Estate - General, Real Estate - San Francisco
Banks Fail to Lower Mortgage Rates as Bernanke Cuts
28 03 2008By Kathleen M. Howley
March 27 (Bloomberg) — Marjorie Killian is eager to buy a home in San Diego and is pre-approved for a mortgage. She won’t make an offer on a property until she can get a fixed rate of 5.5 percent, she said.
Killian is just the kind of buyer that Federal Reserve Chairman Ben Bernanke needs to entice to revive the U.S. housing market and halt its drag on the economy. Lenders aren’t helping the central bank even after they’ve been given seven interest rate cuts and a new program designed to jumpstart borrowing.
Read more:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aj7MyqofI7HA
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Categories : Real Estate - General
Ugly MLS pic of the day
28 03 2008
At least the tub area looks clean, but what are they hoping to show with this?
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Categories : Real Estate - General, Ugly MLS Pic of the Day
Bay Area Market Update
26 03 2008Gold prices are dropping. Oil prices are dropping. Mortgage rates are dropping! For the first time since January, the rate for a 30-year fixed mortgage hit 5.75%. Reports this week also indicated that foreclosure rates statewide dropped in February for the first time since last summer. The Feds slashed short term lending rates again, and Fannie Mae and Freddie Mac were given the green light to pour an additional $200 billion dollars into mortgage loans. That, combined with the temporary increase in conforming loan limits for Fannie, Freddie and the FHA, is all good news for fast acting buyers and smart sellers. One other bright spot – Coldwell Banker’s bay area offices are reporting that investors are starting to come back into the market and most economists agree that the return of investor purchasing is an early indicator of a market that is ready to bounce back.
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Tags: Real Estate - General, realtor, realty, San Francisco
Categories : Real Estate - General
Ugly MLS Pic of the Day
26 03 2008
This one isn’t as bad as some others, but it does demonstrate a few “sins”. Do you get the feeling this house is in Pisa (as in “The LEANING Tower of…”)? I can’t help but tilt my head. Sadly, this is the ONLY picture that was uploaded (which is better than the numerous homes that regularly show up as “no photo available” — the ULTIMATE sin!).
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Categories : Ugly MLS Pic of the Day
Welcome!
25 03 2008Hi Everyone!
Welcome to the Foggy Views weblog. This blog is intended to be a source of useful information to the many residents of San Francisco’s “West of Twin Peaks” neighborhoods — sometimes referred to as “Realtor District-4″ (which includes Miraloma Park, Forest Hill and Forest Hill Extension; St. Francis Wood, Monterey Heights, Ingleside Terrace, etc.). It’s my hope that our friends and neighbors will make positive contributions to this site so that it becomes a frequently visited and informative resource for all.
As a realtor servicing our community, I will leverage my expertise to keep you regularly updated of the state of real estate in the area. However, all are welcome to submit postings that cover any other topic that may be of interest.
Go ahead, submit an entry. “Let’s get it started in here!” 
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Tags: Miraloma Park, neighborhood, Real Estate - General, realtor, San Francisco, West of Twin Peaks
Categories : General, Real Estate - General, Real Estate - San Francisco
