66 Belcher Street #3 – Coming Soon
August 24, 2010 by Doors Of Your Life · Leave a Comment
Sophisticated full floor condominium located steps from Duboce Park offers all of the amenities and conveniences of city living, with the comfort of home. This stunning home has been immaculately kept since it was constructed in 2007 with a focus on indoor/outdoor living. There are 3 bedrooms, including a lovely master suite, along with 2 full baths. Entering this home you can feel the attention to detail that went into the planning and construction. The southern outlooks and spacious floor plan allow for an abundance of natural light in the home. The scale of the living space is ideal for entertaining and includes the chef’s kitchen with custom cabinets, top of the line appliances, and a breakfast island. Large dining area is perfect for dinner parties as well as formal living/sitting area, centered around the gas fireplace. The bedrooms are nestled at the rear of the condo and the master suite boasts custom cabinetry, designer finishes with a double vanity, jetted tub, and separate shower. A large deeded deck is off of the master and an adjacent bedroom.
Close to fabulous restaurants, cafes, and shops, it offers quick easy access to both downtown San Francisco and freeways. Sweeping views of San Francisco and beyond are enjoyed by the roof top terrace making this the ultimate home for entertaining!
The Essentials:
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Three bedrooms and two bathrooms
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Modern construction built in 2007
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State-of-the-art kitchen
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Master suite with designer finishes
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Deeded private deck and roof top terrace
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One car garage parking
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Walk Score of 97
Coming Soon!
August 20, 2010 by Doors Of Your Life · Leave a Comment
Check out the latest SF properties to hit the market.
Upcoming listing:
$2,225,000 //Telegraph Hill //Francisco St. BR/BA: 3/2.5 PKG: 2 BriefDescription: Spacious three level, Mediterranean villa townhome. Two fireplaces, extraordinary water views, private terraces. Located right below Coit Tower Property Website (if any): www.TelegraphTerrace.com
$985,000 //Potrero Hill // Arkansas BR/BA: 2/1 PKG: 1 Brief Description: FAB location, sweet home, gorgeous deck and garden Property Website (if any): www.363Arkansas.com
$799,000 //Inner Richmond //Confidential Address BR/BA: 2/1 PKG: 1 Brief Description: Top floor Marina style remodeled condo
$699,000 // SOMA // Dow Place BR/BA: 1/1.5 PKG: 1 Brief Description: This 2 level loft condominium has almost 1,300 SF and the largest floor plan in the building. Set at the Southeast corner of the building with downtown views and loads of light. Property Website (if any): http://zannelli.com/property_detail.php?property_ID=58.
$695,000 //Central Richmond //Confidential Address BR/BA: 2/1.5 PKG: 2 Brief Description: Top Floor Marina Style remodeled condo, all remodeled
$575,000 //Cole Valley // Confidential Address BR/BA: 1/1 PKG: 0 BriefDescription: Gorgeous condo in heart of Cole Valley in 6 unit building. Lsd pkg within building, has been secured since purchase in ’04- will remain
Pocket Listings:
$2,150,000 // Noe Valley // Confidential/ Call Agent BR/BA: 4/2.5 PKG: 2 Brief Description: Expertly designed by award winning Zack/De Vito Architects in 2004, this dramatic light infused 4 bedroom, 2.5 bath modern townhouse consists of clearly organized spaces with a focus on details and timeless finishes. The immense living space is impressive and is accentuated with polished concrete floors, soaring ceilings, exposed steel beams and opens to the landscaped tiered gardens Coming Soon!
$1,095,000 // Lake District // 7th Ave BR/BA: 3+/1.5 PKG: 2 Brief Description: Large two story 3+ bedroom top-floor condo in a gorgeous Arts & Crafts building on a beautiful block just off Lake St. Remodeled kitchen & bath, excellent floor plan, bright & open, 2 large decks, office/family room, in-unit w/d, large shared yard, and close to Mt Lake Park. Easy to show
$799,000 // Sunset // 19thAve (x Kirkham) BR/BA: 3/2 plus studio penthouse PKG: 1 Brief Description: Built in 2000, this bright and spacious 3bd /2ba (plus studio penthouse) condo is just a block away from Irving St. shops and restaurants. Great layout, ~2,000 sq.ft., in-unit w/d, 2 roof decks. Condo will be vacant and studio penthouse w/separate entrance is currently tenant occupied at $1,200/mo. Easy to show
$795,000 //Lower Pacific Heights //Confidential/Call Agent BR/BA: 2/1 PKG: 0 Brief Description: Lovely 2bd 1ba plus large office condo located just steps from Fillmore Street. Period details throughout, open floor plan and deeded patio – great for entertaining! Leased parking
$TBD // Potrero Hill // 1216—19th Street BR/BA: 3/2 PKG: 1 BriefDescription: 3200 square-foot contemporary home on Potrero Hill’s North Slope with spectacular panoramic views. Very convenient to shops and restaurants of 18th Street.
$TBD// Russian Hill // 1356-58 Broadway BR/BA: 3/2 & 2/1 PKG: 1 Brief Description: Fabulous Edwardian 2 units with original woodwork & large lot. 1 vacant 1 tenant occupied. Great Location. Ready end of month Property Website: Coming Soon!
August Newsletter
August 20, 2010 by Doors Of Your Life · Leave a Comment
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Underwater in your San Francisco Home? FHA Refinance Program
August 18, 2010 by Doors Of Your Life · Leave a Comment
FHA LAUNCHES SHORT REFI OPPORTUNITY FOR UNDERWATER HOMEOWNERS
Effort designed to encourage principal write-downs for responsible borrowers
WASHINGTON – In an effort to help responsible homeowners who owe more on their mortgage than the value of their property, the U.S. Department of Housing and Urban Development today provided details on the adjustment to its refinance program which was announced earlier this year that will enable lenders to provide additional refinancing options to homeowners who owe more than their home is worth. Starting September 7, 2010, the Federal Housing Administration (FHA) will offer certain ‘underwater’ non-FHA borrowers who are current on their existing mortgage and whose lenders agree to write off at least ten percent of the unpaid principal balance of the first mortgage, the opportunity to qualify for a new FHA-insured mortgage.
The FHA Short Refinance option is targeted to help people who owe more on their mortgage than their home is worth – or ‘underwater’ – because their local markets saw large declines in home values. Originally announced in March, these changes and other programs that have been put in place will help the Administration meet its goal of stabilizing housing markets by offering a second chance to up to 3 to 4 million struggling homeowners through the end of 2012.
“We’re throwing a life line out to those families who are current on their mortgage and are experiencing financial hardships because property values in their community have declined,” said FHA Commissioner David H. Stevens. “This is another tool to help overcome the negative equity problem facing many responsible homeowners who are looking to refinance into a safer, more secure mortgage product.”
Today, FHA published a mortgagee letter to provide guidance to lenders on how to implement this new enhancement. Participation in FHA’s refinance program is voluntary and requires the consent of all lien holders. To be eligible for a new loan, the homeowner must owe more on their mortgage than their home is worth and be current on their existing mortgage. The homeowner must qualify for the new loan under standard FHA underwriting requirements and have a credit score equal to or greater than 500. The property must be the homeowner’s primary residence. And the borrower’s existing first lien holder must agree to write off at least 10% of their unpaid principal balance, bringing that borrower’s combined loan-to-value ratio to no greater than 115%.
In addition, the existing loan to be refinanced must not be an FHA-insured loan, and the refinanced FHA-insured first mortgage must have a loan-to-value ratio of no more than 97.75 percent. Interested homeowners should contact their lenders to determine if they are eligible and whether the lender agrees the write down a portion of the unpaid principal.
To facilitate the refinancing of new FHA-insured loans under this program, the U.S. Department of Treasury will provide incentives to existing second lien holders who agree to full or partial extinguishment of the liens. To be eligible, servicers must execute a Servicer Participation Agreement (SPA) with Fannie Mae, in its capacity as financial agent for the United States, on or before October 3, 2010.
For more information on FHA Short Refinance option, read FHA’s mortgagee letter.
FHA LAUNCHES SHORT REFI OPPORTUNITY FOR UNDERWATER HOMEOWNERS – [U.S. Department of Housing and Urban Development]
Full Tilt Credit Boom – Record Low Rates
August 17, 2010 by Doors Of Your Life · Leave a Comment
This “WeeklyBasis 8/14/10: Full Tilt Credit Boom” is provided by Julian Hebron, Vice President, Mortgage Consultant
RPM Mortgage. Take it away Julian…
Normally this report is measured, but it’s hard to temper the current situation: we’re in an unprecedented government credit explosion. Low rate bonanza. Full tilt refi boom. Best time for homebuyers who select the right deal.
The ironic reason for this boom is that is that global developed economies are so unstable because of the last credit boom. But the late-1990s to 2007 credit boom wasn’t just loose monetary and fiscal policies, it was also loose credit standards born out of sweeping financial deregulation. We all know the story: Home loans made to unqualified (mostly U.S.) borrowers underpinned bond funds around the globe and countless derivatives were created from those bonds—and it all crashed when home prices plummeted.
At least this time credit guidelines are more strict, as any homebuyer or refinancer knows all too well. Getting a mortgage funded involves painstaking scrutiny of borrower and property profiles. The rewards, of course, are the rates. You can view current rates below and see the attached chart for historical perspective from 1971-Present.
But back to the irony. While it’s painstaking for a borrower to procure new debt, the government issues billions in new Treasury debt every other week, and global markets readily absorb it. Here are three reasons why Treasury and mortgage debt (which is, in essence, government debt too since Fannie and Freddie were taken over 2 years ago) has rallied so much recently:
(1) From January 2009 to March 2010, the Fed bought $1.25t in mortgage bonds to bid prices up and rates down.
(2) Then a European debt crisis from April to July caused bond investors to sell European bonds and buy U.S. Treasury and mortgage bonds.
(3) And the U.S. economy has posted two months of weaker jobs, GDP, home prices, retail sales, and consumer sentiment, causing money to move from stocks to Treasuries and mortgage bonds.
The result is record high mortgage bonds and record low rates.
This simply can’t last. Look at Europe. Right now we’re the beneficiary of their (many would say) profligate government debt issuance, but our gross federal debt is 75% of nominal GDP, according to Kansas City Fed President Thomas Hoenig. In a worst case, we’d eventually have a debt crisis of our own which would cause huge mortgage and Treasury selloffs, resulting in a very sharp rate spike.
Even in a moderate scenario where mortgages and Treasuries simply experience a market correction off current record highs, it would push mortgage rates up .25% to .5%. But for now, it’s full tilt credit boom, and qualified mortgage borrowers are beneficiaries.
CONFORMING RATES ($200,000 – $417,000) – 0 POINT
30 Year: 4.375% (4.49% APR)
FHA 30 Year: 4.375% (4.50% APR)
5/1 ARM: 3.25% (3.37% APR)
SUPER-CONFORMING RATES ($417,001 to $729,750 cap by county) – 0 POINT’
30 Year: 4.625% (4.74% APR)
FHA 30 Year: 4.5% (4.62% APR)
5/1 ARM: 3.5% (3.62% APR)
JUMBO RATES ($729,751 – $2,00,000) – 1 POINT
30 Year: 5.25% (5.37% APR)
5/1 ARM: 4.125% (4.24% APR)
DAILY CONSUMER-FRIENDLY COMMENTARY
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