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Tag Archives: 1st Time Buyer
New SOMA release of 6 stylishly remodeled homes at 181-191 Russ Street. Steps from the best culinary, shopping, arts and recreational destinations in the district. Walking distance to Whole Foods Market, ATT Park, and Draves Park 1/2 block away make this a city dwellers dream location. Each freshly remodeled spacious two-bedroom two-bathroom home at features hardwood floors, high-efficiency lighting, all new kitchens with stainless appliances, modern bathrooms, large bedrooms and stunning open floor plans with Bay Windows. Storage and In Unit Laundry Room included. Low HOA fee. Asking $549,000-$595,000. Walkscore of 98, Transportation score of 100, Great Biking.
Early OPEN Sunday 1-4:30PM. Call Erika, Showing Agent, for private viewing 415-321-7076, Erika Burke, Top Producer DRE#01386234
As you know inventory in San Francisco is at its lowest mark in more than seven years. With such a low supply comes steeper competition which can put 1st time homebuyers at a disadvantage. I like to look at it as an opportunity to be informed and prepared. (Tips at the end)
Evaluating property and the market.
With low inventory the first time home buyer may be going up against investors who are also targeting the bargain-priced or lower priced homes that are in the same pool in which you are looking. Investors and contractors come to the table with buying power, large down payments and/or cash, which can edge you out of the deal. One strategy is to prepare to compete.
In a Sellers market, a strategy that is often employed by listing agents, are to list the homes for well under the market, in hopes of attracting a large number of offers. This means each home must be individually evaluated against the market to see if this is the case. If so, the buyer must be prepared to bring their offer in at the regular market price which can be substantially, sometimes $10k-$100k or more over the inappropriately low asking price. Just because a price is listed, it does not reflect the market value or the actual final purchase price range. Conversely, some homes do not require an overbid and your agent will be able to advise you accordingly. Continue reading
Last week I blogged about a gorgeous penthouse #506 offering for $1,250,000. at 200 Brannan in San Francisco’s South Beach waterfront neighborhood, which is still available. Today, a beautiful 1535 SF 2 story loft in this luxury Condo Building has come to market.
This 2 level loft, #130, includes a second full bath on the main level and a large master suite on the upper level. The mezzanine is large enough for a home office or family room. This is a plushly decorated secure full service building with door man, 24 hour security, included garage parking for 1 independant and exercise facilities plus recreation room for private parties. Offered for $1,049,000.
One block from the Waterfront and near 2nd Street Cafes and boutiques.
Everything about 200 Brannan is luxurious and the perfect fit for the discerning full service condominium seeker. Please phone for your appointment to view this home.
For more about 200 Brannan please review my prior post http://erikaburkesf.com/?p=2004
Listed by Eric Turner, McGuire Real Estate
450 San Bruno #2 Off Market
$699,000 New Low Pricing! At $348 per square foot, this is a tremendous value!
This San Francisco panoramic downtown view home the one to have. 2 Floor split level condo was added/built in 1984. This spacious 3 bedroom & 3 bath home is a sure choice, at 2007 Square Feet for $348 per sq ft. Make easy upgrades in this clean good looking home, to add value and make it your personal showcase!
Top level penthouse suite with Jacuzzi tub is light, bright & open with enormous views and 2 walk out decks. The Lower (1st of 2) levels, has a cozy open living floor plan with new kitchen appliances, a Master bedroom with en suite bath, 2nd hall bath, a 2nd bedroom/office/den leading to a large walk out deck with views.
Included are 2 deeded tandem parking spaces inside the large shared garage plus 2 BIG locked private storage closets, plus in-unit laundry hook-ups (top level). Freshly painted interior throughout.
Located on the Mission side of the FWY. with dbl. dbl. windows making it quiet. Steps to SF Design District, Whole Foods, Starbucks, cafes & more. HOA $372. Walk Score of 92. A find for the smart buyer!
Visit www.450SanBruno.com for further info and pics.
In this Article from Realtor Magazine, the IRS has finally told us what documentation will be needed to qualify for, submit and receive the 1st time homebuyers Tax Credit and the Step-up Buyers Tax Credit. Move through these pages and click on the additional links to go all the way to the IRS website which gives you directions on how to get it all done!
I am not a tax person and you should always consult with your tax professional on all matters concerning your taxes, though I like to keep my clientele informed and make resources available to them.