Stop us if you’ve heard this one before: YIMBY groups are backing a proposed new California law by SF-based State Senator Scott Wiener that would create dense housing near major transit lines in California cities–if only they can plow through NIMBYish opposition on the way to the governor’s desk. We have indeed been down this … Continue reading YIMBY-Backed Bill Pushes For More Housing Near Transit–Again
Did you know that SF supervisors passed legislation to give non-profits the right of first offer and refusal to purchase a multi-unit building? They sure did. It was supposed to go into full effect on June 2, 2019, but it seems there are few kinks to iron out. The Mayor’s Office of Housing and Community … Continue reading Is COPA half full or half empty?
(Editor’s Note: The following is reprinted from the Real Estate Bulletin, spring 2012 issue, published by the California Department of Real Estate.) “The California Real Estate Law (Business and Professions Code §10000, et seq.) does not prohibit the sharing of commissions. Before going further, it must be understood that this section and its analysis only … Continue reading Real Estate Commissions…
We would advise, before you run outside screaming, “I need to buy a house! I need to buy a house! This $8000 won’t last!” Read the fine print, particularly question 9. From the California Association of Realtors Website (verbatim): A. FIRST-TIME HOMEBUYER TAX CREDIT Q 1. What, in a nutshell, is the $8,000 tax credit for first-time … Continue reading $8000 First Time Homebuyer Tax Credit: the fine print
I have to admit, watching the banks, AIG, the automakers, and finally, homeowners get a bail out, I did more than once cry out piteously: “But who the f— will bail out me?” Answer: Chris Daly. I didn’t really ask for this kind of bailout, but Daly’s constituents are largely renters; and hey, so is … Continue reading Being a Landlord is Such a Drag…
Recovery.gov: For the things that apply to San Francisco real estate and you, the homeowner, check this page specifically. And since we’re at it, can we get a show of hands for how many of you San Franciscans out there are looking for help under the Making Home Affordable Plan recently enacted by President Obama? … Continue reading Forget Web 2.0, We’re In Recession 2.0 …”Come Back Often”
From SFGate: ‘[Rep. Jackie Speier, D-Hillsborough] drafted an amendment so that rather than being limited to whether the loan was conforming at time of origination, it will be based on (whether it’s conforming at) the time of (modification), which will take the limit up to $729,750 in high-cost areas. This should make more people in … Continue reading Adjusting Housing Relief Plans For Bay Area Residents
From the Zillow Blog: Details have not yet been ironed out, but the proposed $15,000 tax credit amendment in the economic stimulus package that was sponsored by Sen. Johnny Isakson has been trimmed down to an $8000 tax credit, according to the NY Times. This is all very preliminary until the bill is actually signed, but here is … Continue reading $15,000 Homebuyer Tax Credit Trimmed To $8,000
The news of the day is the Senate approved $15,000 tax break for new homebuyers: -WASHINGTON — The Senate on Wednesday voted to expand the economic stimulus package with a tax credit for homebuyers of up to $15,000, a provision championed by Republicans as addressing a root cause of the recession. -Senator Johnny Isakson, Republican … Continue reading $15,000 Tax Break For Homebuyers, Good Or Bad Idea?
Good news on a Monday morning: -Waiting to go condo is San Francisco’s version of waiting for Godot [seeing that phrase a lot lately…good on ya Malcolm.] Building owners can spend years vying for one of 200 condo-conversion slots awarded annually via a lottery. But this year San Francisco is considering letting people skip the … Continue reading TIC? Got Cash? To The Front Of The Line Please…
We pulled this directly from a C.A.R newsletter: The U.S. House of Representatives passed H.R. 1, the Economic Recovery Package, by a 244 to 188 vote. Amid all the negative economic news we’re hearing on a daily basis, this is good news, as the bill contains a number of issues critical to REALTORS® and the … Continue reading House Passes Stimulus Bill, Senate What Next?
You might have already read Alex Clark’s article on the Bush plan to help homeowners, named optimistically “Hope for Homeowners.” Commenters on that post were less optimistic. Seems a lot of lenders won’t touch the program, though that might be because the program itself is new and everyone is so gun-shy right now. That leaves … Continue reading Obama Wants to Jump in on the Real Estate Crisis. Which Way should He Jump?
Prop 8 is not one that encourages sedate emotion. People are either vehemently for it, or they are just as vehemently against it. The debate between the two camps, heated as it is, often erupts into full out fighting, which we all know from our rhetoric classes is actually the opposite effect civilized, fair debate … Continue reading In the Spirit of Halloween and Election Season, Scary Technology that “Outs” Your Neighbors
Hello out there, theFrontStep Readers! You may (or just as likely, may not) know my name from my blogs for Redfin. I’ve kindly been invited to write also for theFrontSteps, so here I am, on the steps, with my first blog. So here’s the setting: last night, 2:00am, sultry night, people walking up from the … Continue reading A Worse Punishment for Sisyphus: Policing Noise in a Metropolis
BUSH ADMINISTRATION LAUNCHES “HOPE FOR HOMEOWNERS” PROGRAM TO HELP MORE STRUGGLING FAMILIES KEEP THEIR HOMES Detailed Program Eligibility Requirements Announced WASHINGTON – The Bush Administration today (10/1) unveiled additional mortgage assistance for homeowners at risk of foreclosure. The HOPE for Homeowners program will refinance mortgages for borrowers who are having difficulty making their payments, but … Continue reading Government Unveils Hope For Homeowners (H4H) Program
If you’ve been wondering what all of this Government takeover of Fannie and Freddie means, you’re hardly alone, so we just went ahead and copied what we just read to give you some different perspectives of what is being said in the real estate world. We take zero credit for this, it all came from … Continue reading Taking Over Fannie Mae and Freddie Mac, Some Clarification