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The Roth Report
Your San Francisco Real Estate Resource
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February 2009
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Dear Friends:
Welcome to the February 2009 Roth Report.
On Wednesday, the President signed the American
Recovery and Reinvestment Act of 2009. This
legislation provides for two "stimulating" benefits for
buyers of real estate in 2009: 1) It resets the
conforming loan limit cap through December 31, 2009
to
$729,750 -- up from $625,500, and 2) It increases the
first-time home buyer credit to $8,000 for
buyers until December 1, 2009.
The $760 billion act is also expected to bring up to
$700 million to the Bay Area to fund transit and
infrastructure projects. Rumor has it that a new
underground train station at San Francisco's
Transbay Terminal and a tram connecting the
Oakland Airport to BART are top priority local
infrastructure projects that are slated for quick
funding. Additional funds may also come to the Bay
Area for road and highway projects. It sure would be
great if some of that money came to revive San
Francisco's wire undergrounding project!
For those wondering what's going in the mortgage
market, I've included an article with a "Top 7" list you
might find helptul. And, in the spirit of Hope, be
sure to check out the article about San Francisco's
latest contemplated
development along the Embarcadero -- another sign
that San
Francisco's waterfront is continuing its well-deserved
transformation.
As always, please let me know if I can answer your
questions about anything provided here,
or if you'd like to discuss what's going on in the San
Francisco real estate market.
Forward
to
a Friend
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7 Things to Know About Mortgage Rates in 2009
A look at where rates on home loans are headed in the new year.
It wasn't too long ago that mortgage rates
were expected to move sharply higher in the
coming months thanks to rattled investors and
mounting inflation. But while falling home
prices and jittery financial markets have
done little to assuage investor fears, a
number of recent developments have combined
to create a decidedly optimistic
mortgage-rate outlook for 2009. "The
preponderance of forces that would typically
operate on mortgage rates - the economic
backdrop, the inflation backdrop and, in this
case, government policy - are all pointing
towards lower interest rates," says Mike
Larson, a real-estate analyst at Weiss Research.
Read more...
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Featured Property of the Month
Lowest priced home in Cow Hollow!
2243 Greenwich Street / Single Family Home
6 Bedrooms / 5 Bathrooms / 2,750
Square feet
2243 Greenwich is the lowest priced single
family home currently on the market in Cow
Hollow. Originally priced at $2,195,000 in
February of 2008, this bank short-sale home
has been reduced 8 times, and it is now
listed at $1,545,000
This charming and spacious single family home
is close to the boutiques and restaurants of
Upper Fillmore and Union Street, offers six
bedrooms and five baths, and a large family
room with a fireplace that opens to a lovely
South facing patio on the lower level.
Complete with two car side by side garage,
laundry and storage. Tremendous amount of
house for the price and location!
Offered at: $1,545,000.
View home
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SF Supervisors Seek Federal Money for Wire Undergrounding Project
San Francisco supervisors ask for federal assistance to continue a program to underground all of the city's utility wires.
The Board of Supervisors approved a
resolution, authored by Supervisor Bevan
Dufty, seeking funds from President-elect
Barack Obama's economic stimulus package to
renew the program, approved in 1996 but which
has been halted for lack of funding.
About 520 of the city's 990 miles of utility
wires are underground, according to the city.
Read more...
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January Neighborhood Home Sales Report
Are you curious about the selling prices of
homes in
your favorite San Francisco neighborhoods?
Here are the January
2009 home
sales for each district in San
Francisco, along
with short descriptions of each property.
You'll find information on previous months as
well.
This page is updated regularly, so be sure to
check
back next month for the most recent information.
View Reports
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Investor's Corner: SF Port Commission to Consider Embarcadero Housing
A real estate development firm in San
Francisco announced plans Saturday for a
mixed-use housing and public open space
project along the Embarcadero that would open
a key patch of waterfront real estate to city
residents.
San Francisco Waterfront Partners LLC and the
Port of San Francisco made the announcement
for the project that could add 140 to 170
LEED-certified residential units and three
public open space areas across a stretch of
private and publicly owned parcels across
from the Ferry Building, Piers 1, 2 and 3 and
bounded by Drumm, Jackson and Washington
Streets, according to a statement by developers.
Read more...
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Refer a Friend and Score Dinner for Two at Gary Danko
Referrals are the life-blood of my business,
and I'm
honored every time you refer my name to a
friend
or family member who is seeking help in the
San
Francisco real estate market.
To show my appreciation, I'm
offering a
complimentary dinner for two at Gary
Danko,
San Francisco's most sophisticated,
contemporary
restaurant, if I end up representing your
referral on the
purchase
or sale of property.
So keep RothRealEstate
in mind the next time you hear of anyone
needing reliable and seasoned help to
purchase or
sell in San Francisco. Bon appetit!
*View offer details
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About Andrew Roth
Since 1991, Andrew has been involved with San
Francisco real estate. He is
a Top Producer Agent with Zephyr Real
Estate and a designated Premiere Property Agent
in Zephyr's luxury property division.
Please contact Andrew for a private consultation if
you are planning to buy or sell property in San
Francisco.
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