San Francisco Real Estate - Janice Lee

 A Mission District group that last week publicly floated the idea of a controversial plan to stop new market-rate housing in the neighborhood has put the proposal on paper. The move means the political fight over gentrification will likely move into the Board of Supervisors' chambers this year. Calle 24, a group of Mission businesses, nonprofits and residents, officially proposed Thursday that the city stop approvals for market-rate housing projects until it can study how to increase the number of affordable units that those projects would subsidize. Supervisor David Campos, who represents the Mission, has said he will soon turn Calle 24's recommendations into legislation. The group is also calling on the city to fast-track the development of affordable housing projects on public sites in the area and temporarily halt the building of high-end restaurants and the merging of retail space. "While initially it seems counter-intuitive to seek interim controls on d...

San Francisco is still a renter’s worst nightmare, and it’s kicking 2015 off with yet more  record-high price tags . According to real estate listings site Zumper, the median rent for a one-bedroom apartment in San Francisco jumped to $3,410 last month, up 0.6 percent from December. That’s about $400 more than the median one-bedroom in New York, which San Francisco  surpassed in rent prices for the first time   last September The median price of a two-bedroom apartment in San Francisco also rose 0.9 percent over the last month, making it about $1,000 more expensive for two-bedrooms than New York. It’s a slight but unwelcome uptick in a city where rent prices shot up 13.5 percent in 2014. San Francisco has become increasingly unaffordable for many of its long-time residents and low-wage workers as an influx of Silicon Valley wealth floods the city. Income inequality in San Francisco is so great that it’s on par with that of developing nations , the city’s H...

 New Listing coming soon  2 bedroom 2 bath condo in Sunset District.

Just Sold 2909 Jennings Over Asking All Cash $650,000! Represented Seller. This property was featured in SFGate.com. My client purchased the property for under $300,000 in San Francisco Bayview District in 2014. Negotiated a lower price after getting in contract. Is that even possible? My clients remodeled  the property and sold for a huge profit. #SF # Flipping #Investments #RealEstate # Listing #Selling Before and after 2090 Jennings.

                   A probate sale with court confirmation occurs when a person passes away, who may have a will and leaves the property to heirs.  When there is court confirmation, the listing agent typically lists a property below market, sets an offer date and accepts an offer. If your offer gets accepted during the offer process, you may actually have contingencies into your offer.  If your offer is accepted, you will need to put 10% deposit at the title company instead of the typical 3%.  However, the attorney cannot petition the state to set a court date for potential overbid until all contingencies are removed. The court date is typically at least a month to 45 days from the date you remove all contingencies (if any).                    The court date allows other potential buyers to go to court to overbid and the final accepted overbid (if any) gets confirme...

WASHINGTON President Barack Obama moved Wednesday to make it cheaper for first-time and younger buyers to take out a mortgage. Obama lowered the mortgage-insurance premium for borrowers who have a down payment of just 3.5 percent of the home’s purchase price and finance the rest of the purchase with a loan backed by the Federal Housing Administration. The reduction is expected to save the typical first-time homebuyer an average of $900 a year on the insurance, the White House said. The insurance is required because they’re financing so much of the purchase and the loans are riskier. Existing homeowners who refinance into an FHA mortgage will see similar reductions, the White House said. The White House estimated that the change will help 800,000 homeowners save on their mortgages and 250,000 new buyers save on mortgage payments over the next three years. Obama, expected to highlight the lower-cost mortgages Thursday during a visit to Arizona, has been under pressure from the housing se...

CoreLogic DataQuick, the La Jolla-based real estate information firm, reported that Bay Area home sales overall edged slightly higher in October, climbing 1.3 percent from a year ago. But the luxury segment of the market turned in a much more robust performance, soaring by as much as 55 percent in some regions, according to new Coldwell Banker Previews luxury market reports.