Remodeling? Don’t do it to resell!

May 8, 2010 · Lee Ginsburg · 2 Comments

Midrange Remodeling Costs Vs. Payback from Remodeling Magazine
http://www.remodeling.hw.net/2009/costvsvalue/division/pacific/city/san-francisco–ca.aspx

Job Cost	Resale Value	Cost Recouped	Project	Job Cost	Resale Value	Cost Recouped	Change vs.. 2008-09
$13,114	$10,674	81.4%	Siding Replacement (vinyl)	$10,607	$8,476	79.9%
$12,760	$11,328	88.8%	Window Replacement (vinyl)	$10,728	$8,217	76.6%
$13,804	$12,175	88.2%	Window Replacement (wood)	$11,700	$9,044	77.3%
$47,052	$32,057	68.1%	Bathroom Addition	$39,046	$23,233	59.5%
$18,864	$14,517	77.0%	Bathroom Remodel	$16,142	$11,454	71.0%
$16,956	$13,922	82.1%	Deck Addition (composite)	$15,373	$10,904	70.9%
$12,838	$11,744	91.5%	Deck Addition (wood)	$10,634	$8,573	80.6%
$3,835	$2,930	76.4%	Entry Door Replacement (fiberglass)	$3,490	$2,275	65.2%
$1,353	$1,732	128.0%	Entry Door Replacement (steel)	$1,172	$1,470	128.9%
$100,023	$73,551	73.5%	Family Room Addition	$82,756	$54,051	65.3%
$83,463	$45,245	54.2%	Sunroom Addition	$73,167	$37,118	50.7%
$184,839	$143,073	77.4%	Two-Story Addition	$156,309	$107,286	68.6%
$63,803	$53,923	84.5%	Major Kitchen Remodel	$57,215	$41,260	72.1%
$124,579	$90,616	72.7%	Master Suite Addition	$103,696	$67,578	65.2%
$23,210	$21,991	94.8%	Minor Kitchen Remodel	$21,411	$16,773	78.3%
$24,712	$18,829	76.2%	Roofing Replacement	$19,731	$13,133	66.6%

What Does Zillow Tell You About Your Home?

January 27, 2010 · Annie Chang · 2 Comments

Ever since the launch of its website in 2006, Zillowhas increasingly gained its popularity as a convenient tool to look up home values. When I work with prospective buyers or sellers to explain the market value of their homes, I often hear the famous line “but Zillow says…!” followed by “so how accurate is the Zestimate?”

Thanks to Zillow for providing a detailed video of “A Guide to the Zestimate” to explain how the home values are generated. I hope you will find this video helpful!

Posted by Annie W. Chang | www.TalkofRealEstate.com

5 Advantages for Move-Up Buyers In This Market

November 13, 2009 · Adam Chinn · 3 Comments

moving up Five reasons current home owners should consider upgrading to a new home.

1. Interest rates are at historic lows: Lower interest rates means you can now buy more home then you could have a year or two ago.

2. Prices have come down: Even if your current home may be worth less than the last peak in the market, the next home you are looking for will probably be as well. The percentage decrease will actually help you get more house when buying up to a larger home.

3. There are still a good amount of homes on the market right now, both new construction and existing, giving you lots of choices and negotiating power.

4. You can move in to your new home faster, as many builders either have completed homes in inventory or they can start working right away due to the production slowdown.

5. You may have outgrown your home, but its probably someone else’s ideal starter home. With the $8,000 tax credit just recently being extended and the new $6,500 tax credit for move up buyers, now is the time to market your home to first-time home buyers.

For more information about the tax credit please visit http://www.federalhousingtaxcredit.com/

This Real Estate Blog is by Adam Chinn

The First Time Home Buyer Tax Credit is Extended!

November 11, 2009 · Kathy Wall · 2 Comments

The $8,000 first time home buyer tax credit that was scheduled to be canceled as of November 30th has been extended, which is absolutely wonderful news for all of those potential home buyers who weren’t able to find their new homes before the deadline. The new credit will be in effect until April 30, 2010. Please note that home buyers will need to be in contract by that date, but will have up until July 1, 2010 to close the escrow (that’s when you actually own the home). And, the new credit is even better than the previous one for the following reasons:

…The income limits have been raised so that now more people will qualify for the credit. Previously, if you were a single person, you could only earn up to $75,000 and, as a married couple you could only earn $150,000. Now, single people will still qualify if they make up to $125,000 and married couples will be able to receive it if they make up to $225,000. And, those earning over these amounts may still qualify a credit, but for a lesser amount. Read more

Simple Tricks to Show Your Home Like a Champ!

September 21, 2009 · Annie Chang · 3 Comments

after

First impression counts! The most saleable properties are those that show pride of ownership. That’s why most of the new developments display model homes and home-sellers hire professional stagers to “dress up” their home for prospective buyers. This may come with a price as staging may cost anywhere from $1,000- $3,000 depending on the size of the home and the elaborateness of the project. However, the reward is bigger! Sellers “have received 2-8% above market asking price and listings have sold in half the time of a non-staged home” according to Let’s Stage It (www.letsstageit.com).

On the other hand, if you still live in the property and/or you don’t want to pay the money to give your home a complete make-over, start with these simple “5C’s” tricks: Read more

Environmental Issues When Buying Real Estate – Part II

August 31, 2009 · Kathy Wall · 4 Comments

In a recent article, I covered many of the important facts that homeowners should know about asbestos. Today, I will be talking about a little known environmental concern called “Radon.”

Radon is an odorless gas that you can’t smell and/or taste. And, unfortunately, it is the second leading cause of of lung cancer. According to the Environmental Protection Agency (EPA), if you smoke and your home has high radon levels, your risk of lung cancer is especially high.

Basically, radon is a radioactive gas. It is caused by the natural decay of uranium that is found in nearly all soil. It moves into your home through cracks and other holes in the foundation. It can, also, enter your home through well water.

In some cases, certainly not all, granite counter tops are known to contain dangerous levels of radon. There is no need to panic if you have granite counters, but it is a good idea to test their radon levels.

It is very easy to test for radon. There are several short term tests that can be purchased at your local hardware store. They are easy to use and can let you know if you have a problem within a very short period of time. The EPA recommends that everyone test for radon, whether they are in an old or new home.

If you take the short term test and your result is 4 pCi/L or higher, you should take a follow up test just to be sure. And, if it comes back high a second time, then you should contact the EPA and do the long term test.

If you are doing renovation of your home, such as converting an unfinished basement to living space, it is especially important to test the radon levels since major renovations can change the radon levels of any home.

There are ways to lower the radon levels of your home. One such method is to use a vent pipe system and a fan. These pull the radon from beneath the house and vents it to the outside. It is called a soil suction radon reduction system. Before beginning any repairs, it is wise to consult the state radon office for advice and recommendations.

Home sellers would be well advised to check out their radon levels before putting the house on the market, since more and more buyers are asking about it. In addition, every person who purchases new construction should definitely check their radon level prior to occupying the home.

For more details on the information contained in this article, please check out the EPA’s website at: www.epa.gov/radon/.

Kathy Wall

(415) 608-4168

www.michaelandkathy.com

Old School Pricing Is Out and Price It Right Is In

May 26, 2009 · Lee Ginsburg · 6 Comments

Many sellers are determined to set their listing price higher than they are willing to accept so they have room to negotiate. With the New Millennium buyers they unfortunately will not get any offers. Today’s buyers are more educated than any others. The internet gives the buyers the opportunity to research all public records. They know the price of all the homes in the area that sold recently and are on the market. They know the trends, the cost per square foot; they know what the seller paid for the home and how much they owe and sometimes the improvements the owner has completed. If a home is over-priced the “New” buyer is almost offended that someone would expect them to purchase it at the “Over Valued List Price” so they don’t even make an offer. Many don’t even waste their time to view the home. That is the old school pricing method. My parents would have done that. Back then information was not so accessible. Read more

Sunnyside…a little neighborhood in San Francisco

April 9, 2009 · Francis G. Bautista · 6 Comments

I share with you all a quaint little place in San Francisco called Sunnyside. It is nestled alongside Glen Park and highway 280. The story is that the name Sunnyside came about when the developers were marketing this area. They wanted to attract buyers to this (kinda) foggy part of town so they came up with the clever name of Sunnyside. It has a gorgeous view of the Brisbane Mountains. It is a small neighborhood, but conveniently located and easily accessible to all parts of San Francisco. The commercial strip if you will, is mainly along Monterey Blvd where there are several restaurants and a small but convenient Safeway grocery store. The Glen Park neighborhood is also so close that Sunnyside residents can easily walk to the great restaurants like, Chenery Park or Sangha among others for a nice dinner. The recent opening of Canyon grocery store has also been a great addition. The Glen Park BART station is conveniently a quick walk away as well. Read more