Try Gumps, a harbinger of elegance and sophistication,  at 135 Post St. in San Francisco.  ‘Ohh and ahh’ through their beautifully dressed retail store.  Contact their concierge to host your private event, cocktail reception or dinner, bridal event or arrange a private seminar with one of their designers or artists. 

Nearby find Neiman Marcus at 150 Stockton Street, now showing Spring Home Trends like their “Global Perspective, New Preppy, Nouveau Cottage, Coastal Charm and the traditional Country Estates”.  Designer’s like Lily Pulitzer, Calvin Klein Home, Mac-Kenzie Childs, and Jonathan Adler contribute to the homes collections.  For Baccarat and Lalique, this is your destination. 

This Friday you can catch Barton Perrerias’ Sunglass Trunk show at another luxe shopping “go to”, at Barney’s New York’s San Francisco store at 77 O’Farrell Street at 11am. Barney’s sets itself appart with  its’ selection of sophisticated urban decor, tech and travel, desk, gourmet and even the dog department.

Feeling a little boutiquey…is that a word?  Head to Union Street between Lombard and Broadway in San Franciscos’ Cow Hollow neighborhood where you will find a walkable high end shopping district dotted with cafes, and chic clothing and home boutiques like Armani Exchange, Z Gallerie, Twig, Van Galen Upholstery.  Rest your happy bones at Betelnut, La Cucina or Chez Maman.

Explore other city neigbhorhoods in the Marina Districts’ Chestnut Street where you will find Benefit Cosmetics, Pottery Barn, Williams-Sonoma, and bring home a fine wine selection from Plumbpjack Wines (founded by former Mayor Gavin Newsom).  The restuarant offerings on Chestnut make this the perfect desination for the lunch time or cocktail hour shopping trip. 

It’s easy to see why San Francisco is on every world-class shoppers list.  These fine luxury mercantiles are sure to offer the best service and selection to add to your home and your delicious shopping memory.

Pockets of Movement in the San Francisco Housing Market, Despite Lessening Inventory

The nice spring-like weather we have been experiencing has had some positive effects on the home buying public, as it has brought more buyers into the market. And with interest rates continuing to stand at a 60-year low, this has made homes more affordable and led to a wave of refinances that has increased disposable income for property owners. But despite these encouraging trends, the city’s inventory has tightened.

Single-Family Homes

As inventory levels dropped in January by 32.9 percent, compared to January 2011, the number of homes under contract rose by 8.7 percent. But the low inventory seemed to also contribute to fewer completed sales, which is fairly normal market behavior for this time of year.

For homes that were priced below $700,000, the months of supply inventory fell by 47.3 percent to 1.6 months. For higher priced homes between $700,000 and $1.2 million, the months of supply inventory fell by 38.9 percent to 2.4 months. These short time frames continue to indicate a seller’s market, where sellers have more leveraging power over buyers who are competing against a limited pool of properties.

Still, even with low inventory numbers, there were areas of the city that experienced healthy sales gains. One such area, District 10, rests in the southeastern most part of town. Compared to this time last year, the number of homes under contract has only dropped by a mere 3.8 percent. And, while the number of homes sold has fallen by 39.6 percent, District 10 saw the most homes sold of any other district in the city this past month, with 32 properties. Portola, Excelsior, and Visitacion Valley are just some of the ethnically rich neighborhoods that make up this area, whose median home prices are among the lowest in the city. A diamond in the rough is just what you may find in this suburban community forged from an industrial past of warehouses and factories.

Another area of the city which has maintained positive real estate activity, despite the drop in citywide inventory, is District 5, also known as the Central District. Compared to January 2011, the number of homes under contract rose by 25 percent, while the number of homes sold was 12.4 percent of the total number of homes sold in the entire city, at 8 properties. The Central District’s natural charm and various points of interest, including Mission Dolores, the Haight-Ashbury, and Buena Vista Park, offers something unique and intriguing for just about every home buyer who would like to call San Francisco their home.

Condominium Sales

As with single-family homes, the number of condominiums for sale throughout the city has also contracted, by 39.1 percent since January 2011. The number of condominiums under contract has remained relatively the same, only dropping by 0.6 percent, while the number of condominiums sold has fallen by 19.9 percent, to a total of 113 units by the end of the month. For condominiums that were priced between $500,000 and $900,000, the months of supply inventory tightened by 34.2 percent to a reading of 2.1 months. For luxury condominiums priced above $900,000, the months of supply inventory also decreased, by 33.8 percent to 4.1 months.

One region of the city which experienced a strong increase in condominium sales activity is District 8, or as it is more commonly referred to as, Downtown San Francisco. Compared to this time last year, the number of condominiums under contract rose by 19.2 percent, while the number of condominiums sold also increased by 8.3 percent to 26 units. At the heart of the Financial District, and as a main tourist attraction of the city, Downtown San Francisco features some of the finest and most luxurious high-rise and mid-rise condominiums in the country. Condominium buyers who yearn to be in the hustle and bustle of it all will find this section of town ideal and with no comparison.

Outlook

Nationally, the consumer confidence index, which had increased in December, has retreated this past month. The index now stands at 61.1, down from 64.8 in December. Regarding the short-term outlook, Lynn Franco, director of the Conference Board Consumer Research Center, says that, “Consumers are more upbeat about employment, but less optimistic about business conditions and their income prospects. Recent increases in gasoline prices may have consumers feeling a little less confident this month.”

The most recent data from the State Employment Development Department shows that the local job outlook continues to improve, as San Francisco’s unemployment rate fell to 7.6 percent in December 2011, down from 7.8 percent in November 2011, making it the third lowest in the state. Mayor Ed Lee’s office said that this steady increase in job growth ranks San Francisco in the top 10 percent of the country by the U.S. Bureau of Labor Statistics.

According to a new report from RealFacts, a company that analyzes rental data, Bay Area cities topped the nation for rising apartment rental prices in 2011, with average rental prices in San Francisco increasing by 10.4 percent. The boom in the commercial, as well as the residential market, is largely attributed to the influx of young, well-paid technology workers migrating to the city. REALTORS® can explain to them about the benefits of owning a home versus the cost of renting.

With the spring selling season soon to get started, San Francisco should begin to see a greater inventory of homes hitting the real estate market in the coming weeks.
Published by the San Francisco Association of Realtors

National Housing starts rose 1.5 percent in January to a seasonally adjusted annual rate of 699,000 from the revised December estimate of 689,000, and they were 9.9 percent above the January 2011 rate of 636,000, according to the latest figures released by the U.S. Commerce Department. Housing starts for single-family homes fell 1 percent in January to 508,000, down from 513,000 in December.

Permits for new construction edged 0.7 percent higher to 676,000 in January from the revised December rate of 671,000, and they were 19 percent higher than the January 2011 estimate of 568,000.

The upward trend in new construction has bolstered builder confidence for the fifth consecutive month. In February, the National Association of Home Builders/Wells Fargo Housing Market Index rose four points to its highest level in four years. Each of the three components of the index also improved for the fifth consecutive month in February. The component measuring traffic of prospective buyers rose one point, while the components measuring sales expectations for the next six months and current sales each rose five points.

In a related matter, housing affordability rose to a record level in the fourth quarter of 2011, according to the NAHB/Wells Fargo Housing Opportunity Index. Three-fourths (75.9 percent) of all homes sold in the fourth quarter were affordable to households earning the national median income of $64,200, the highest percentage recorded in the 20-year history of the index. The most affordable major market was Youngstown-Warren-Boardman, Ohio – Pa., where 95.1 percent of all homes sold during the quarter were affordable to households earning the area’s median income of $54,900.

Over the next 2 years, 58 days of racing will take place. The City would benefit by the influx of attendees’ to restaurants and hotels. Slow fundraising has been a concern for county supervisors who know that $52m is earmarked to spend on prepping for the event.

Analysis of the anticipated 8,800 jobs creation, and $1.4Billion in revenue were made from other America’s cup events held worldwide. As of now, only 3 of the 9 expected teams have signed on for the 2013 finals.

The America’s Cup organization stands behind its forecast, while some supervisors believe the projection is grossly overestimated. San Francisco has a world renown sailing tradition, multiple yacht clubs, visible weekly Regatta’s on the bay which will have us looking forward to seeing if this event brings the funds, crowds and participation anticipated or is a complicated way to repair a waterfront badly in need of attention….and it looks like, possible development.
www.Americascup.com

Today I sipped wine on a dock of the Bay!  The San Francisco Chronicle sponsors the largest American Wine Competition in America, held on Feb. 6^th with the VIP reception, which I attended, and public wine tasting that followed, on Feb. 18^th in the Festival Pavilion of Fort Mason.  Hic!  While sampling the Best in Class and Gold Medal Winners in the VIP reception this afternoon, an attendee warned me, “You better go down to the tasting floor before the public arrives, as it will be 5000 strong”.  He wasn’t kidding.  So we did.  Sampling wines from multiple AVA’s, (American Viticulture Areas) from Lodi, Sonoma, Russian River, Napa, Glen Ellen, Santa Maria, Petaluma, Temecula, to name a few.

Each winery offering samples of  their medal winners from 2012 and years past along with info for ordering later as they do not “sell” at this event.

The judging and samples were for Sweepstakes Winners, Best in Class, Gold Gold, Gold, Silver and Bronze Medals in all types of wines, labels and differing price points.  The full list of participants and winners can be viewed at www.winejudging.com.

Greeted at the door with a loaf of bread and an engraved wine glass that you hold close, you are able to sample as much as is your fill.  San Francisco turns out for this event.  The floor filled quickly with revelers, aficionados and newbie’s.  This was a chance to get up close and personal with the winery owners, representatives and wine makers.  It was a little slice of heaven, or should I say necessary bites of bread, after sampling dozens of  appellations.

The crowd, while raucous and appreciative were surprisingly well dressed.  At the end of each lengthy tasting roww were food samplings and sales of biscotti, pate, tomato sauce, balsamic infused olive oil, handcrafted chocolate and even butter cream frosting in a bag (danger!!!)  The Culinary Academy turned out to provide tempting hors d’oeuvres that they assembled at long tables outside overlooking the bay with a back drop views of Coit Tower, the marina and Alcatraz, as seagulls circled.  Even the sun turned out for the event.

Two notable highlights were Evolve winery, who’s’ wine maker is Ben Flajnik of “The Bachelor”,  also worked behind his veineyards tasting table in the V.I.P section with his 2 partners, one of whom wore a name tag of “Dance party”.  His Rose and Sauvignon Blanc were both deliciously surprising.

Stella Artois Brewery made a show at the far end of the pavilion sampling their Belgian Beer and giving away Stella steins and glasses and velvet bags.  Their line was long but worth the wait.  I was duly informed that Hoegarden is pronounced “Hoo Garden”.

Outside we met a couple who had been coming for 10 years and 3 guys hoping to meet some quality ladies!  This was my first, but not last wine festival attendance!  Mark your calendar for next year!  This is a great way to beat the winter blues and imbibe alongside those of us with a taste for vino!

Twitter and Facebook were all abuzz about avoiding downtown due to the congestion from the Presidents’ motorcade.  A small inconvenience.  I understand that the president himself hopped out of his car and picked up “To Go”, at the “Great Eastern”.  Judging from photos in the press, it must have been for his whole team as he had several large bags.  I’m curious, and will look into it, as to what his favorite dish is.  Do you take him for a Beef n’ Broccoli man, or sweet and sour chicken?

Small controversy over his order of Shark Fin Soup, as sharks are endangered and not allowed to be served unless purchased through legal channels.  This is something we can guarantee for him, wonderful authentic Chinese Food in San Francisco.

Next stop, a private home in Pacific Heights for fundraising event  followed by an overnight stay.  It’s easy to see that Obama hasn’t left his heart in San Francisco yet, but always makes an effort to meet and greet the people, like us, when he comes to town.

Luckily that is easily achievable in our town.  Though we are a great city, buyers often note, its’ diverse neighborhoods make it feel like a town.  We began our tour in St. Francis Woods.  Known as District 4, this neighborhood sports detached mansion like homes on larger parcels of property.  I would call this “the country in the middle of the city”.  Some of our oldest and most beautiful Mediterranean and Spanish style homes are in this neighborhood that exudes a charming elegance.  They loved West Portal, the 3 block shopping district at the base of St. Francis woods and its’ boutiques, pubs, cafe’s and art cinema.

Onward to Diamond Heights – up Portola Ave. where the views are spectacular and then onto Twin Peaks.  A lot of modern beauties in this neighborhood.  We quickly moved onto the North West side of Town and Took in Presidio and Laurel Heights, again they noted the charming Laurel Heights shopping Center with rear parking and our final destination, the Lake District.  I took them for a quick visage of Mt. Lake Park (a City secret-shhhh) and finally to Sea Cliff.

This was enough for one day.  We promised to cover Cole Valley, Pacific Heights, Nob Hill, Russian Hill, North Beach and the Marina tomorrow!  My buyers noted that each neighborhood had a distinct flavor, style of architecture, weather and diverse shopping.  They noted, fog, some small streets, some busy streets, some flat areas, some hilly, each with their own special attributes!

As I say – the right house presents itself, at the right time.  I have seen time and again my buyers eyes light up when they enter the home they will purchase and its’ easy for them to make the decision, because it already feels like home!

Take a approx. 3 mile round trip hike from near the Cliff House and Sutro Baths’ on a bay ridge trail with outstanding views to reach Lands end outlook bordering Sea Cliff neighborhood.  Travel to the base of Presidio to find Crissy field, an old airstrip on the former Army base that serves as a greenbelt for a lengthy bayside trail that leads from the Marina District to the Golden Gate Bridge.  The Presidio itself has multiple hiking trails where you can be among the trees and get away from it all, stretching from Crissy field all the way to Laurel Heights and the Richmond District.

How about our beaches, Ocean Beach and its’ boardwalk.  Walk along the water or the sea wall for several miles toward the San Francisco Zoo!  Fort Funston sits atop a cliff and is home to a dog walker’s heaven of trails and beach access.  Watch the paragliders here…there is plenty of parking.

Golden Gate Park is so vast, you would not be able to walk its’ entirety in a day.  One suggestion is quick walk is down behind The Beach Chalet  and its’ twisting trails surrounded by native foliage!  Or take a stroll around the Polo Field around 25^th Avenue where soccer games and practices may be in session, and its’ surrounding trails that lead to other meadows, lakes and picnic spots.

Many local book sellers stock guides of the many trails and walks in nature to be had in our fair city!

Thinking my Yoga routine had qualified me, I decided to join a boot camp recently and I’m embarrassed to report that I made it through the warm-up and not much more.  I realized that I have to ramp up my routine just to join these dedicated athletes.

Boot camps are a way to ramp up your workout routine while enjoying the outdoors. Not for the faint of heart, one would likely need to be fairly fit, just to participate.  The trainers are not dissimilar to the drill sergeants in the military in their bearing and fortitude, yelling out instructions and urging the participants to work harder, faster, dig deeper, encouragingly so.  Looking for a local boot camp?  Go to: http://bootcampsf.com or http://sanfranciscobootcamps.com/  to get started.  I think you will be able to find one close to home, its’ just that you probably aren’t getting up that early now…but oh, you will be when you join!  Snap to! fitness junkies; and join the boot camp craze.

Here is my best kept secret.  Purchase potting soil and a pot that is a little bigger than the plant you have purchased, drop in a screen to cover the hole in the bottom of the pot (purchased at a garden supply store) and some gravel or old pot shards as a small bottom layer. Ease the plant out of the pot by turn it on its’ side and holding close to the stem(s), drop it into the pot with some soil previously placed in the pot leveling the top of your new plant about 1-2” below the rim.  Surround it with soil and press the plant down, and tamp the soil down lightly.

Here’s the Secret to keeping plants alive…get ready…place a dish under the plant to catch the excess water, which also allows the plant to draw that water back (if its’ not too much water).  You can even purchase a cork or plastic mat, or stand to place it on to get it off your floor or carpet and voila, greenery.

I have a few favorite plant spots where I purchase.  Lowes Home Center on Bayshore Blvd. and close by is Flowercraft, an outdoor flower mart.  Sloat garden Center on Sloat Blvd. near the Zoo, and several smaller plant stores in the inner mission.

Think about the lighting and know the direction of the light when you go to purchase and a salesperson will generally advise you on what plant will thrive in that light and exposure for optimum shelf life!  Purchase a plant food, I like Maxsea,  to add to your water once a week.  As you watch your houseplants grow, you will likely feel a pride of ownership akin to owning a pet!  Plus they put lots of oxygen in the air.

Some of my favorite species are spider plants, Boston ferns, lucky bamboo, the money plant, dieffenbachia, ivy, coleus, peace plant with white flowers, herbs for the kitchen like basil, oregano, mint and thyme.  Succulents are great too and don’t require much water, like jade and many other exotic and beautiful varieties.  Don’t overwater, just make a layer of water…just enough to see the water soak into the soil and not spill over the other side. You don’t need to be a gardener or study  gardening books to own and enjoy plants.  Just dig in!

Another favorite is MOMA Museum of Modern Art,  www.sfmoma.com. Their  downtown building is impressive in it’s’ largesse.  The top floor sports a coffee shop and some phenomenal views of the bigger buildings up close and personal.  Their museum store where you are sure to find something unique is a treasure and regular stop for me when purchasing gifts for clients or friends.    Don’t miss their café for lunch and its’ outdoor tables.

Bringing a friend, your Mother or relative to a museum and lunch is a pleasure for all visitors. Most museums have educational programs, presentations by the artists themselves, evening receptions and fundraisers.  Most have some sort of garden or outdoor space for resting your weary artistically fulfilled bones during or after your visit.

San Francisco is home to the Asian Art Museum, The Contemporary Jewish Museum, The Randall Museum and even The Cable Car Museum.  There or many more to mention and visit.  If only work didn’t interfere with my cultural education, so I’m asking you to go for me, if not with me and don’t be surprised if you get an invite from me to one of their openings, galas or fundraisers.

Start your planning  at the fine arts museums at www.famsf.org,

Here is a map to see how many there are to discover:

1) Dixie

Address: 1 Letterman Dr, in the Presidio
The Situation: Chef Joseph Humphrey, who earned Michelin stars atMeadowood and Murray Circle, finally gets his own personal project. He’s taking over the former Pres A Vi to create an un-stuffy restaurant combining elements from California and the South.
Major Players: Chef-owner Joseph Humphrey, designer Michael Brennan, general manager Khalid Lahlou
Projected Opening: Late fall, “with any luck, right around Thanksgiving”
Buzz Factor: 7
Further Reading

2) Wo Hing General Store
Address: 584 Valencia St. (@ 17th)
The Situation: Charles Phan marks his poignant return to the originalSlanted Door space with a new Chinese street food concept named after his father and uncle. Keeping things current are craft cocktails, local wines, and a brand new bar built-out on the ground level.
Major Players: Executive chef-owner Charles Phan, chef de cuisine Michelle Mah, bar manager Brooke Arthur
Projected Opening: Mid October
Buzz Factor: 8
Further Reading

3) Ritz-Carlton’s new TBA restaurant
Address: 603 Stockton St @ Pine St.
The Situation: After 20 years in business, the Ritz completely hollowed out its formal Dining Room at the Ritz to make way for a total remodel and a new casual, modern dining concept.
Major Players: Chef Ron Siegel, others TBA
Projected Opening: Early to mid December
Buzz Factor: 6.5
Further Reading

4) State Bird Provisions
Address: 1529 Fillmore St. (btwn. O’Farrell and Geary)
The Situation: The beloved pair behind Rubicon are returning to restaurant land after a prolonged off-the-radar catering period. Their “fun and funky” new concept will combine a dim sum format with California fare. Krasinski describes State Bird as “like the best hors d’oeuvre party you’ve ever been to.”
Major Players: Nicole Krasinski, Stuart Brioza, designer Charles De Lisle
Projected Opening: Mid-to-late November
Buzz Factor: 8
Further Reading
5) Keiko a Nob Hill
Address: 1250 Jones Street (near Clay St.)
The Situation: The esteemed (and Michelin-starred) former husband-and-wife team behind Mill Valley’s El Paseo will bring a unique French-inflected kaiseki menu concept to San Francisco.
Major Players: Seigo Takei, Keiko Takahashi
Projected Opening: TBA Fall
Buzz Factor: 5
Further Reading

6) Tacolicious/Mosto
Address: 741 Valencia St.
The Situation: The team behind Tacolicious isn’t just bringing another outpost to the Mission, they’ve added an adjacent tequila bar this time around. Mostois backed by 300 tequilas, to be paired with “botanas” inspired by the owners’ trips to Mexico City and Jalisco. Outdoor seating, and frozen margaritas (without all the fake stuff) should kick things up a notch.
Major Players: Owner Joe Hargrave and chef Telmo Faria
Projected Opening: Late October
Buzz Factor: 6
Further Reading

San Francisco has a tradition of fostering its’ artists and creative’s.  Nowhere is this as evident as with the prolific amount of mural art exhibited on the exterior of buildings throughout the city!  This art expresses local tradition, cultural expression and adds a dimension to the city that makes us unique.

Precita Eyes Mural Arts and Visual Center at 2981  24^th St., in the Inner Mission is home to a non-profit mural arts center, store and awareness program representing local mural art and artists. Visit their locale to purchase posters of the art and find out more about the locations and artists.

In 2010 I represented a listing at the corner of 21^st and Bryant which was covered in paintings that were literally out of this world.  Purple spaceships, stars, and constellations made this building a standing treasure.  During this time, I found out that the City’s Historic Preservation Society is loosely in charge of the preservation of this type of art, in terms of protecting it.

A buildings owner is responsible for preservation of mural art on their buildings, which includes inheriting the artist who created it to further maintain it for posterity.  A new owner may not paint over the murals.  This building was consequently leased by a successful restaurant, Asiento.

Next time you take some time to act like a tourist in your own town, make a point of finding, enjoying and snapping a pic or two of our urban mural art.  It continues to inspire and amaze us.  Be cautious if you are lucky enough to be permitted to paint a mural  on the exterior of your home or building, it may be there for posterity…forever!

A realtor is a devotee to their clientele and their brokerage.  They often work 7 days a week, or at least make themselves available to their clientele.  They must study and pass a rigorous exam and are remanded to fulfill continuing education requirements.  They work from their brokerages and often a home office.  They do their own accounting and pay taxes from each commission.  They place their own advertising, attend networking events to raise their profile, they learn to brand themselves for their specialty.

Realtor’s are social networkers who have mastered technology and social networking skills to promote themselves, your listings and attract buyers through business building on the internet.  They use computers, tablets, smart phones, faxes, electronic documents, copiers.  They design and use mailers to connect with the public and their clients.  They know about bulk mail, folding machines, types of paper.

Most importantly, The preview and tour property throughout the week, specifically on Tuesdays for Brokers Tours which follow the action of the sun through the cities neighborhoods from 9am until 4PM.  They make appointments to view homes with clients on Saturdays and after work.  They tour homes with or without clients at Sunday OPEN HOUSE to catch or hold open the newest listings and preview the newest homes.  They learn about styles of architecture.

They learn tenant/landlord rules and regulations as overseen by the San Francisco rent board.  They know vendors who provide every type of home service from remodels to repairs to new construction.  They learn about the cities geography and geology.  Realtors learn resilience because they are in sales and so must cope with a certain amount of rejection in the form of no.  They learn to be flexible for those that commit and change their minds.  They learn to get along with all sorts of people from every income level and walk of life.  They learn compassion for those less fortunate, they stay involved and give back.  Most Realtors have a charity or two or three they are actively involved in.

They follow and monitor local politics, district supervisors and happenings at City Hall.  They know about short sales and foreclosures.  Realtors know where to shop, they dress well and present a polished image.  They follow the newest restaurants and trends in each neighborhood.  Schools are important, so they can direct their  clients to the right district or area in which their children will grown and learn.

A realtor must be upstanding, ethical and motivated.  It’s not easy, if it were – everyone would be doing it!  This is all a Realtor is and much more, and we haven’t even discussed the knowledge base necessary for them to exercise the purchase and sales contracts, assemble the disclosure package and bring your home through its’ escrow.

They make a network of contacts, title companies, attorney’s, insurance companies, inspectors to serve their clients whom they know will perform.  A Realtor is like a finely tuned conductor who’s orchestra is the myriad of moving parts they assemble to make the job look easy.  That’s the key.  If it looks easy, then your Realtor has done their job and made you think, “I could do this”.  I ask  you, would you want to?  Kiss your Realtor today….they work hard for you.

Celebrating New Year’s, is kind of like a collective birthday, except there are no candles to blow out when you make your wish known as “The New Years’ Resolution”.  I quizzed a dozen people at our annual office party and came up with a dozen different resolutions.  “To get my teeth whitened, and work on smiling more”.  I liked that one….it was easily achievable.  How about, “learning to balance work and play, since I work all the time”.  I’m still waiting for the answer to that one myself.  “I’m going to be nicer to my ________”.  If you fill in the blank with husband, then I say – good luck.  There’s not a wife on the planet that has successfully fulfilled that one, in my opinion.  Never to late to try though. Starting the year with the thought is as good as making it happen.  Reasonable goal setting.

2011 was a tough year with the mortgage crisis, skyrocketing unemployment, vacillating stock market, natural disasters and a general level of uncertainty that pervaded.  A chance to start afresh with renewed zeal is generally welcomed by all.  So this holiday, replete with popping champagne bottles, fancy dress, galas and major promises to ourselves and others is a tradition that unites us globally in a promise for a brighter, better tomorrow.  At least after we recover from the festivities!

One critical measure of The City’s economic health is tourism, which generated more than $8.5 billion in spending last year. Thankfully, the 2011 summer tourist season did not disappoint. Activity at San Francisco International Airport hit a spring-high with domestic air travel increasing 5 percent year-over-year. International flights have also seen a 6.5 percent year-to-date increase. This influx of travelers has given a needed boost to local hotels, restaurants, retail and other businesses. According to the city controller, hotel occupancy, room rates and retail activity are all following positive trends.

The rapid growth of the high-tech sector is also giving a lift to The City’s economy. Commercial management firm Jones Lang LaSalle estimates the number of high-tech jobs in San Francisco will soon surpass the record of 34,000 set in 2000, accounting for 1 in 5 office jobs. Such rapid growth is fueling office occupancy, particularly South of Market. Citywide, vacancy is down to 13.6 percent in the first half of the year. Residential vacancy rates are also declining.

Although much of this success is driven by the high-tech sector, there is more cause for optimism ahead according to Dennis Conaghan, executive director of the San Francisco Center for Economic Development. The recent Pow Wow event — which brought international tour operators to The City — will bring an estimated $350 million in international travel business to San Francisco over the next two to four years. The $56 million Moscone Center upgrade and renovation will be complete in July, helping to attract lucrative future convention business. The America’s Cup could draw up to 5 million spectators and generate more than $1.2 billion of new economic activity during the multiyear series of sailing regattas.

San Francisco is fortunate to have companies such as Salesforce.com, Zynga and Twitter. These companies are actively planning for growth, adding new employees, expanding office space and deepening their engagement with the community. Salesforce.com announced plans to build a 14-acre campus in Mission Bay that could eventually house 8,000 workers. Thanks to the recently passed mid-Market tax exemption, Twitter will move into the San Francisco Mart building and may add up to 2,600 jobs over the next six years. Zynga, and other high-tech companies, are also expanding.

Other current and planned construction will give further boost to the local economy. And while we have a long way to go to get back to prerecession levels, construction cranes still dot the Mission Bay landscape and other areas. The City has broken ground on a new General Hospital. New land use approvals have been given to Hunters Point, Treasure Island and Parkmerced.

Economic growth does not happen by accident. San Francisco should be proud of the investments we’ve made and the good public policies we have adopted that have allowed our city to become a bright spot in economic recovery. The wind is in our sails. Now, we must keep the momentum going.

Steve Falk is president and CEO of the San Francisco Chamber of Commerce.

Read more at the San Francisco Examiner: http://www.sfexaminer.com/opinion/op-eds/2011/08/san-francisco-bright-spot-economic-recovery#ixzz1WjxFSSb
v

Q: What do elves learn in school?
A: The Elf-abet!

Q: What’s the most popular wine at Christmas?
A: “I don’t like sprouts” !

Q: If athletes get athletes foot, what do astronauts get?
A: Missletoe!

Q: What do you get when you cross a snowman with a vampire?
A: Frostbite.

Q: What do elves learn in school?

A: The Elf-abet!

Q: What’s the most popular wine at Christmas?
A: “I don’t like sprouts” !

Q: If athletes get athletes foot, what do astronauts get?
A: Missletoe!

Q: What do you get when you cross a snowman with a vampire?
A: Frostbite.

Q: Why was Santa’s little helper depressed?
A: Because he had low elf esteem.

Q: Why does Santa have 3 gardens?
A: So he can ho-ho-ho.

Q: Where do polar bears vote?
A: The North Poll.

Q: What do you get when you cross an archer with a gift-wrapper?
A: Ribbon hood.

Q: Why do birds fly south for the winter ?
A: Because it’s to far to walk.

Q: What was wrong with the boy’s brand new toy electric train set he received for Christmas?
A: Forty feet of track – all straight!

Q: What kind of bird can write?
A: A PENguin.

Q: How does Al Gore’s household keep Christmas politically correct?
A: On Christmas morning, they give the presents TO the tree.

Q: What do you call a cat on the beach at Christmas time?
A: Sandy Claus!

Q: How do sheep in Mexico say Merry Christmas?
A: Fleece Navidad!

Q: What nationality is Santa Claus?
A: North Polish.

Q: Why does Santa’s sled get such good mileage?
A: Because it has long-distance runners on each side.

Q: What do you call a bunch of grandmasters of chess bragging about their games in a hotel lobby?
A: Chess nuts boasting in an open foyer!

Q: What do you get if you deep fry Santa Claus?
A: Crisp Cringle.

Q: What did the ghosts say to Santa Claus?
A: We’ll have a boo Christmas without you.

Q: What did Santa shout to his toys on Christmas Eve?
A: Okay everyone, sack time!!

Q: What do snowmen eat for breakfast?
A: Snowflakes.

Q: If Santa Claus and Mrs. Claus had a child, what would he be called?
A: A subordinate claus.

Q: Why did the elf push his bed into the fireplace?
A: He wanted to sleep like a log.

Q: Why did Santa spell Christmas N-O-E?
A: Because the angel had said, “No L!”

Q: What goes Ho, Ho, Swoosh, Ho, Ho, Swoosh?
A: Santa caught in a revolving door!

Q: Why does Santa Claus go down the chimney on Christmas Eve?
A: Because it ” soots ” him!

Q: What do you do if Santa gets stuck in your chimney?
A: Pour Santa flush on him.

Q: Did you hear that one of Santa’s reindeer now works for Proctor and Gambel?
A: Its true . . . Comet cleans sinks!

Q: What do you call people who are afraid of Santa Claus?
A: Claustrophobic.

Q: Why does Scrooge love Rudolph the Red-Nosed Reindeer?
A: Because every buck is dear to him.

Q: How come you never hear anything about the 10th reindeer “Olive” ?
A: Yeah, you know, “Olive the other reindeer, used to laugh and call him names”

Q: Why did the little girl change her mind about buying her grandmother a packet of handkerchiefs for Christmas?Q: Olive ?
A: Yeah, you know, “Olive the other reindeer, used to laugh and call him names”

Q: Why is Christmas just like a day at the office?
A: You do all the work and the fat guy with the suit gets all the credit.

Q: Olive?
A: Yeah, you know, “Olive the other reindeer, used to laugh and call him names”

Q: What was so good about he neurotic doll the girl was given for Christmas?
A: It was wound up already.

Q: What’s a good holiday tip?
A: Never catch snowflakes with your tongue until all the birds have gone south for the winter.

Weekends you may find art events, performances and in the winter an ice skating ring.  A preserved plot of land that can never be built on due to a trust of its’ original owner.  Around the square are some of the most famous stores in the world!  This is luxury shopping  and dining central, but know that a deal can still be had.

My favorite secret of the area is Maiden Lane.  A 2 block side street between Geary and Post, featuring shops like Hermes, Chanel, Marc Jacobs, Prada, Brittex Fabrics, a number of salons and  charming little cafes with outdoor tables.  During the day, the street is blocked to traffic for easy navigation and dining.  These are the back door entrances to these highly touted shops, making your journey quaint.  Take in their windows that change regularly for some high art window dressing.  When the ballet season began last year, almost every vendor featured mannequins with authentic vintage ballet costumes.

After taking a stroll on Maiden Lane make sure to visit the main drags off Powell for a visit to the theatre district a few blocks away and restaurants like Morton’s, Farallon and The Cheesecake Factory above, in Macy’s.  Some grand hotels surround the square, like Sir Francis Drake, The Westin St. Francis, and a few blocks away The Fairmount (an historic treasure), The Intercontinental Mark Hopkins Hotel with it’s Top of the Mark bar featuring wrap around views.

Finished with the square?  Hop on a trolley car and head through Chinatown to North Beach and finally the Embarcadero for some more world class views, cultural immersion and uniquely San Francisco dining and shopping.

Maximum debt-to-income ratio

The measure of income adequacy most often used is the sum of the monthly payment on the new mortgage, plus property taxes, homeowners insurance and other debt payments, divided by income. The maximum ranges from 40 percent to 43 percent, but underwriters have discretion to accept higher requirements if they believe that circumstances justify them.

Debt payments are those that extend beyond the next six months and are not deferred for a year or longer. This includes HELOCs and other revolving credits, credit card debt that you don’t pay off at month-end, student loans, and alimony and child support payments.

Repairing inadequate income

The obvious way to repair inadequate income is to earn more, but there are also ways to make your existing income count for more. One way is to convince the underwriter that you can safely devote a larger proportion of your income to housing expense than is typical for someone in your income bracket. The best (perhaps the only) way to do that is to document that you have done it in the past — either as a past homeowner or as a renter.

Another repair could be to induce the underwriter to count income that would ordinarily be disregarded because of a presumption that it won’t continue. You rebut that presumption by presenting evidence to the contrary. Such evidence could be historical data showing that the income has in fact been generated over a considerable period. Or the evidence could be forward-looking testimony by someone in position to have knowledge of your prospects, such as your employer. Here are some examples:

• If your income has recently increased, obtain a written statement from your employer explaining the reason for the increase and that it is likely to continue.
• If your income has recently decreased, obtain a written statement from your employer explaining the reason for the decrease and why it is likely to be temporary.
• If you want overtime, commission bonus and/or part-time income to be counted, document that you have received it for two years, along with a statement from your employer that it probably will continue.
• If you are in the military and want to claim pay above base pay for your rank (jump, hazard, special assignment, etc.), and/or housing, base and food allowances, provide an explanation of why they will continue. If you are deployed, explain in writing that your pay stubs do not match your W-2s because you have been deployed to a war zone and that your income is not taxed.
• If you have investment income from an unusual source that you believe to be stable, put your reasons in writing along with data on investment performance.

Borrowers qualifying with business income are subject to much more complicated rules that require a separate column.

Using the income of others near and dear

Co-signers: A co-signer assumes responsibility for payment of a debt in the event that the borrower doesn’t pay. However, co-signing on a mortgage is severely restricted, with the result that it is not much used.

Non-occupant co-borrowers: FHA allows a borrower to include the income of non-occupant co-borrowers who are close family members or can demonstrate a long-standing relationship with the primary borrower. That means that parents who want to help their children become homeowners can do it by becoming co-owners and co-borrowers. The loan amount must fall within FHA limits for the specific area, and the parents must meet the same underwriting requirements as the primary borrower.

Participating investors: Non-occupant co-borrowers are not allowed on conventional loans, but willing parents can become participating investors in a purchase classified as an investment rather than for occupancy. For the parents, being participating investors is the same as being non-occupant co-borrowers, since in both cases they are part owners, liable for the debt, and they must meet the same underwriting requirements as the primary borrower.

In most cases, mortgages on investment properties require 20 percent down, and are priced 0.75 percent to 1 percent higher than comparable loans to permanent occupants.

Reducing debt payments

If the debt-to-income ratio is swollen by large monthly debt payments, there may be ways to reduce the payments. Borrowers who have a 401(k) can borrow against it and use the proceeds to pay down other debt. Loans from 401(k) are not included in the debt ratio. Reducing debt payments by extending maturities is an option that should be exercised with care because longer-maturity debts usually have higher interest rates.

Jack Guttentag is a professor of finance emeritus at the Wharton School of the University of Pennsylvania. Comments and questions can be left atwww.mtgprofessor.com.

Whether you’ve rented your whole life or own a portfolio of properties, you’ve undoubtedly heard the real estate saying, “Location, location, location,” which simply means that a home’s value is highly dependent upon, well, its location!

The timeless truth of this saying is beyond dispute, even in tough times like these for the housing market. The recessionary fates and foreclosure rates of an individual housing market are highly dependent upon the economic and employment prospects of that market, and even the desirability of an individual neighborhood or lot.

However, there are some other age-old pieces of real estate wisdom that haven’t stood the test of time as well as the location adage. Here are three pieces of conventional real estate wisdom that are due for a refresh.

1. Paying off your mortgage is bad. At the top of the market, many an infomercial pusher espoused borrowing against your home to buy more homes, creating an empire. While that worked for some, for awhile, you can see how that turned out.

But even now, traditional and conservative financial advisers still say that paying off your mortgage is not the best use of cash, as your mortgage interest is tax deductible, and the better use of the funds is to invest them for growth.

For folks who can and are inclined to pay their homes off, though, this rule is off-target. Paying off your home is less about making the most assertive financial move possible, and more about creating security, fixing a low set of living expenses, and hedging against economic and job market uncertainty.

The best practice in today’s economy is to make money moves that create maximum sustainability and minimum stress; if that means paying your mortgage off, then do it.

2. Don’t upgrade your house beyond the level of neighboring homes. Real estate insiders have long observed that buyers are hesitant to pay a premium to buy the best house on an otherwise modest block. And I’ve seen this in full effect, especially when the so-called best house is a three-story castle that has been expanded all the way to the fences, complete with turrets, spotlights and cherub statuary, on a street of one-story ranchers.

Customizing a home with bizarre features, beyond all reason, does make it harder to sell later. But adding features and upgrades that make your life in your home mirror your dream life, or create the comfort and lifestyle your family craves? If you can afford it without draining your home of equity or going into consumer debt, go for it, especially if you plan to be in the property over the long term.

It’s your home, not just another financial asset, and one of the major advantages of ownership is your ability to create a comfortable, personalized habitat for your life.

Don’t necessarily expect to get back your investment in upgrades dollar for dollar, and do avoid making bizarre customizations (hot tub in the living room, anyone?) unless you’re OK with reversing them when you do list the place for sale, but don’t hold back on creating a custom home experience for your family and your lifestyle because you heard it’s a bad investment.

3. The bigger the agent’s car/diamond/hair, the more successful she must be. The real estate industry is a-changing. More than 90 percent of homebuyers start their house hunt on the Internet. And that makes it much harder to tell at a glance who has the stuff to be successful at the endeavor of helping you buy or sell a home.

An agent who drives a Toyota and lacks Kardashian-style bling might even be more likely to have the technology skills it takes to market and sell your home in the Web-centric home marketplace, and to communicate with you via email, text and Facebook message — pick your poison — than the flashiest agent in town. Also, the agents who can hang in there and persevere on tough or small deals on today’s market are often the ones who have manageable expenses of their own.

When picking an agent, disregard your agent’s car, shoes and accoutrements (except maybe their tech tools: laptops, tablets and phones are important tools for them to have and use, prolifically).

So what does matter? Her track record of helping buyers or sellers similarly situated to you (e.g., her list-to-sale-price ratio or history of success at getting bank approval on short sales, if you’re selling a home, or her ability to close deals on bank-owned properties, if you’re buying).

Check prospective agents out by getting referrals from people you know that rave about their agent, checking online real estate forums to see if the agent is participating in online conversations about homes in your area, and asking for references from recent clients who can vouch for the agent’s skills.

Tara-Nicholle Nelson is author of “The Savvy Woman’s Homebuying Handbook” and “Trillion Dollar Women: Use Your Power to Make Buying and Remodeling Decisions.” Tara is also the Consumer Ambassador and Educator for real estate listings search site Trulia.com. Ask her a real estate question online or visit her website, www.rethinkrealestate.com.