Melané Ali Real Estate

I love, love, love this listing

2009-10-27T12:09:00.000-07:00

Yeah, I know. Real agents love all their listings. (We really do.) But one look at this Ironworks live-work loft and you'll find yourself besotted as well.

The location, layout and amenities are incredible, but it's the parking for two cars that just might make you weep. Two cars!

This is #24, an end unit on the top floor of the Ironworks complex at 1221 Harrison Street in SoMa. It has the biggest floor plan (1,676 sq. ft) and the best views. (And parking for two cars!)

Check our website for all the features and photos.

Reporter wins for real estate reporting

2009-10-04T10:00:00.000-07:00

The Northern California Chapter of the Society of Professional Journalists will hold its annual awards shindig in November.

Among the 2009 winners is Zoe Corneli, a reporter at KALW public radio in San Francisco, who nabbed the "Outstanding Emerging Journalist" award for her series on foreclosure scams. Her reporting sparked an investigation by the state Department of Real Estate.

Nice work!

Do the math. Better yet, allow me...

2009-10-01T07:00:00.000-07:00

The days of 100% financing with no documentation are gone, but with upgraded FHA loan guidelines buyers can put as little as 3.5% down and obtain a conservative 30-year fixed-rate mortgage.

In the nine-county San Francisco Bay area, the FHA loan limit is $729,750. Put 3.5% down, and this translates into a $756,217 home purchase price. With 10% down, it translates to an $810,833 purchase price.

You might not get a Pacific Heights mansion, but you could certainly get a Cole Valley condo.

Feel like house hunting? Me, too! Email me or call 415/602-9056 to get started.

The slump gets a bump?

2009-09-28T18:02:00.000-07:00

"The worst housing slump since the Great Depression may be drawing to a close as first-time buyers rush to take advantage of tax credits before a November deadline."

So says reporter Bob Willis on Bloomberg.com. Buyers who want that $8,000 tax credit are seeing reduced prices on new houses because builders must compete with a glut of foreclosures. The median price of a new house fell 9.5%. Sales of new homes in August hit a one-year high.

Read the whole story at Bloomberg.com.

An expert weighs in

2009-08-20T17:25:00.000-07:00

Wharton real estate professor Peter D. Linneman shared his thoughts about the real estate market in an August 19, 2009 edition of Knowledge@Wharton.

Living the tweet life in San Francisco

2009-06-24T19:14:00.000-07:00

The City and County of San Francisco established the 311 line to provide an easy-to-remember telephone number that connects residents, businesses, and visitors to customer service representatives ready to help with information and service requests.

But telephoning is so last century.

Now you can reach the same customer service reps 24/7 via Twitter from your computer or SMS-enabled cell phone.

Get details on the program or skim the SF311 Twitter page first.

Gorgeous Queen Anne Victorian

2009-04-13T00:21:00.000-07:00

My colleagues at Vision Real Estate have the listing for this amazing Queen Anne Victorian at 710 Broderick Street. For photos, the floorplan, schedule of showings, and more, check the property website.

Are you prepared?

2009-04-12T08:20:00.000-07:00

When the Girl Scouts coined the motto "be prepared," were they thinking much beyond a possible Thin Mints shortage?

On the other hand, the 72hours.org website has all the bases covered: earthquakes, floods, fires, biohazards, zombie attacks. Okay, maybe not that last thing, but you get the idea.

Being on your own in a disaster won't be fun, but getting your home, car, and office ready for the worst is absolutely essential, and 72hours.org spells out what to do to stay sane in during an emergency. Be prepared.

Bay Area leads the U.S. in dropping rents

2009-04-10T13:42:00.000-07:00

According to this story in the San Francisco Examiner, the nation's biggest drops in residential rent have occurred in the Bay Area. Locally, rents have dropped most in the Marina, Russian Hill and Telegraph Hill neighborhoods.

Help me help him help me

2009-04-09T22:01:00.000-07:00

Here's how I figure it: If I help San Francisco resident Mike Stearns get a job, he and his wife Robin may soon be in a position to buy a house, or maybe trade up to a bigger house.

For that, they are going to need a real estate agent. Granted, they don't know me, but a blog entry is not such a bad way to say "howdy."

So visit (seriously) MyHusbandNeedsAJob.com and check out Mike's education and training. He has the right degree from Georgetown, and has worked on both coasts—and in China.

Spread the word. Help me help him…help me. I can't wait to put those two crazy kids into just the right home.

Interior designers show off at Showcase

2009-04-02T11:11:00.000-07:00

The 2009 San Francisco Decorator Showcase kicks off on April 25 and runs through Memorial Day weekend.

Designed by noted architect Nathaniel Blaisdell, the formal four-story Georgian home was built in 1910 for George L. Payne, owner of Payne’s Bolt Works. The address is 2830 Pacific Avenue (between Divisadero and Broderick).

Your $30 ticket gives you guilt-free looky-loo privileges and supports San Francisco University High School’s financial aid program. Tickets are available at the door.

For complete details, visit the Showcase website.

On your mark, get ready...wait

2009-03-31T13:36:00.000-07:00

Residential builders are gearing up for new projects in the Dogpatch, Rincon Hills and South of Market.

The few projects mentioned in this San Francisco Business Times article would create more than 600 units, but no one's breaking out the hammers and nails just yet. The number of active residential listings in San Francisco is 24% higher than a year ago.

Still, developers getting their ducks in a row is not a bad sign.

How low can they go?

2009-03-23T15:20:00.000-07:00

This article by Luke Mullins for U.S. News & World Report spells out the seven things to know about the incredible shrinking mortage rates. There's something so tidy and concrete about a numbered list.

Mullins also wrote this article on home buyer tax credits.

Barbie's (life-size) Dream House

2009-03-17T20:37:00.000-07:00

In honor of Barbie's milestone birthday (the big 5-0), designer Jonathan Adler created her Dream House in Malibu. Apartment Therapy covered it, as did a least one Los Angeles Times blogger.

So…when does Ken get his man cave?

DIY for the times

2009-03-13T07:00:00.000-07:00

In a perfect world (or even a normal economy), you choose an experienced real estate agent when you decide to sell your home.

But the authors of "How to Sell a House When It's Worth Less Than the Mortgage" know there is nothing normal about a market in which tens of thousands of homeowners are "underwater." That is, their home is worth less than what they owe.

In fact, a Pew Research Center survey found that 20% of all homeowners believe they if they would have to sell their home right now, it would sell for less than they owe. Read the complete survey results here.

The San Francisco Dream House

2009-03-11T07:00:00.000-07:00

On the market for $2,389,000 in September 2008, and to reduced to $2,280,000 in November, the new duplex property at 1240 5th Avenue in San Francisco was withdrawn without a sale.

Still, someone is going be very happy living there. Imagine forking over a mere $150 for a raffle ticket and winning a brand spanking new custom house with a guest cottage.

Sigh.

What? Oh, sorry. I was just daydreaming about having my morning coffee in my private courtyard before returning to the main house to call all my friends (and maybe a few strangers) to brag about my four-car garage.

The drawing will be held on July 25, 2009. Raffle proceeds benefit the Yerba Buena Center for the Arts. Details and photos are here.

A live/work/pray property?

2009-03-09T10:59:00.000-07:00

The former Golden Gate Lutheran Church is on the market for just under $10 million.

The 17,000 square foot Gothic Revival-style building has been completely rehabbed to add a modern kitchen, three bedrooms, two-and-a-half baths, and an open main floor (the original nave) with miles of glossy wood flooring. (That's a lot of Swiffering.)

Here's the SFGate story. I'll be watching to see how the next owner uses this "home."

Those three little words…

2009-03-04T10:38:00.001-08:00

The people who say a picture's worth a thousand words haven't met San Francisco photographer Peter Bruce.

His photographs speak volumes, but his subjects summarize their feelings in just three words.

Visit his photo blog and see for yourself.

Only in San Francisco

2009-02-27T06:00:00.000-08:00

Only in San Francisco, the website for tourists, is pretty handy for locals as well.

Their calendar page lets you search by date range, type of event and/or neighborhood. Most of the calendar listings have links to the event websites, so complete details are just a click away.

The very, very local news

2009-02-25T15:00:00.000-08:00

Want to know what's happening in your neighborhood?

EveryBlock/SF can tell you about everything from restaurant inspections to crime reports to building permits.

Just enter your address or zip code, and get the very, very local news.

"5 million dollar home" sells for 80 bucks

2009-02-23T14:01:00.000-08:00

The Crumpler Bags store in San Francisco is selling an $80 camera case that's loaded with pockets, flaps, straps, and other features.

For some perverse reason, Crumpler calls this bag the "5 million dollar home." I have a camera, so I could live with that.

I just couldn't live in it.

The "F" word

2009-02-20T07:00:00.000-08:00

No, not that word.

The other overused word that begins with the sixth letter of the alphabet: FREE.

The San Francisco Really Really Free Market (RRFM) meets on the final Saturday of the month at Dolores Park near 19th and Dolores streets. (It moves to an indoor location on rainy days.)

The market functions as a potluck. Bring things you want to give away, and take things you need. Everything is free. Which you likely guessed from the name of the event, right? Complete details are here.

RRFMs occur across the U.S. and around the world. Check the list.

It's a zoo out there

2009-02-18T21:23:00.000-08:00

Zoodango is a city-centric search engine to help you find things to do right near any San Francisco address you enter.

Dozens of perky little icons will dot your map, showing you restaurants, bars, movies, museums, etc. Each destination also has a score based on other destination websites and Zoodango users' experience.

For more info, check this article on SFGate.com.

Schlepping for spices

2009-02-14T09:00:00.000-08:00

If you're a fan of Penzeys, the online spice emporium, you can now visit the new Penzeys store—in Menlo Park.

Read all about it in the San Francisco Weekly.

More winners in the condo lottery?

2009-02-11T06:00:00.000-08:00

The City of San Francisco needs money and one way to get it is to up the number of condo conversions it allows this year.

The 200 slots for 2009 have been awarded, but another 1,500 people are ready to pay for the privilege of going condo.

Read Carolyn Said's article in SFGate. And her follow-up piece.

Chicken or fish?

2009-02-09T20:41:00.002-08:00

Roost.com now has listings for San Francisco. The site lists all homes and condos for sale in the Multiple Listing Service (MLS), plus homes for sale by owner, new construction listings, and foreclosures/foreclosed property listings.

Enter an address on PropertyShark.com and you'll get a description of the property, the most recent sales price, approximate current value, title history, code violations, permits, photographs, maps, etc.

Why aren't any of the real estate sites name after tofu?

Let me call you tweetheart…

2009-01-28T12:00:00.000-08:00

If you use the Twitter microblogging platform, you might want to follow these members:

SFEarthquakes for minute by minute updates on seismic activity.

FoodNut or SFRestaurants for links to Bay Area restaurant reviews.

Cheeseboard Pizza for this Berkeley eatery's pizza of the day tweet.

USCFpeds for the lastest news and research findings from UCSF Children's Hospital.

SFist or SFStation for Bay Area news, arts, events, and more.

San Francisco Weekly for links to articles from their website.

San Francisco Government Jobs for links to (you guessed it) job listings.

Oakland Museum and the de Young Museum for your fine art fix.

Southwest Airlines and JetBlue for breaking news, deals, and rapid problem-solving.

Know of other Twitter streams Bay Area residents would find handy? Leave the links in a comment.

Valentine's day dining

2009-01-23T09:00:00.000-08:00

Sure, you can wait until the last minute to think about where to take your honey-bunny to dinner on Valentine's Day.

You can also pretend to enjoy the dubious grub at some questionable eatery that just happens to have plenty of empty tables on February 14.

Instead, make a reservation at one of the eight restaurants suggested by Thrillist/San Francisco. Fabulous food without the inflated prix fixe pricing. Yum.

Thinking big

2009-01-21T09:46:00.000-08:00

Imagine a 24-room home…in just 344 square feet.

Hong Kong architect Gary Chang has remodeled his apartment three times to get the most from the limited space available.

So before you grumble about not having enough room, read about his home in a recent New York Times article.

Picture this...

2009-01-15T13:16:00.000-08:00

Whether you're new to the Bay Area or a lifelong resident, you'll enjoy the hundreds of photos (and stories) on FogBay.com.

Don't miss the photographer's links list of events, shops and restaurants.

Culinary resolutions for 2009

2009-01-12T10:34:00.000-08:00

New year, but same old kitchen?

Mark Bittman, a.k.a "The Minimalist," offers some great ways to up your cooking game in this New York Times article.

Bittman's blog is worth perusing as well.

Happy holidays

2008-12-23T15:23:00.000-08:00

Whatever holiday you celebrate at this time of year, there's something quintessentially festive about 10 nicely dressed men singing in harmony.

Thrilling? You decide

2008-12-09T20:00:00.000-08:00

Thrillist is a new lifestyle/food/shopping website with editions for several cities, including San Francsico.

A golden age for first-time home buyers?

2008-12-08T12:47:00.000-08:00

"Five or 10 years from now, when the financial crisis has ended and housing prices are up smartly once more, we will look in the rearview mirror and realize that we missed a golden age for first-time home buyers."

So begins a recent article in the New York Times. Read it here.

The Treasury Department's next move

2008-12-06T07:00:00.000-08:00

According to the Washington Post, the U.S. Treasury Department is strongly considering a plan to intervene directly in the mortgage industry to dramatically force down rates.

Read the entire article here.

Fannie Mae to temporarily halt foreclosure sales and evictions

2008-11-21T15:43:00.000-08:00

Breaking news!

The following is reprinted from a Fannie Mae email announcement.
Please note the Lender Letter is a link to a PDF.

Fannie Mae has issued Lender Letter 04-08 announcing that we are halting all foreclosure sales on occupied single-family properties that are scheduled to occur from November 26, 2008 through January 9, 2009. This temporary halt also applies to eviction lockouts of occupied single-family properties.

These actions allow affected borrowers to retain their homes while we work with our regulator and conservator, the Federal Housing Finance Agency, to implement the previously announced streamlined loan modification program by December 15, 2008.

To facilitate borrower communications, servicers must instruct foreclosure attorneys to send letters to borrowers whose foreclosure sales are halted urging them to contact their servicer, so that together, the servicer and borrower can continue working to resolve the delinquency.

For complete details, including other servicing and reporting requirements, please see Fannie Mae Lender Letter 04-08 (PDF) on our 2008 Lender Announcements and Letters page on eFannieMae.com and the news release on fanniemae.com.

Fewer s'mores, but better air quality

2008-11-20T20:43:00.000-08:00

This winter, San Francisco will issue Spare the Air Alerts whenever fine particulate matter creates poor air quality.

Under a new regulation, it is illegal to burn wood, firelogs, or pellets in your fireplace, woodstove, or outdoor firepit on days when the Bay Area Air Quality Management District issues a Spare the Air Alert.

So, you may have to forego that romantic fire and/or s'mores binge for the greater good.

The 2008-09 Winter Spare the Air season runs through February 28. Check alert status online.

Conforming loan amount to increase

2008-11-17T10:11:00.000-08:00

Susan Weber Pomilia shared some good news.

Conforming loan amounts for San Francisco and Marin Counties will be increased from the current $417,000 to $625,500 as of the first of the year. This translates to a purchase price of $781,875 with a 20% down payment. Much more realistic for our part of the real estate world.

Rates have also improved over the past two weeks. Right now conforming loans ($417K ) are at 5 7/8% with 1 point, while Jumbos (729K and above) are at 6 1/4% with one point. Remember, the Jumbo conforming category is being phased out, and will be gone by January 1, 2009.

Required reading

2008-11-10T06:23:00.000-08:00

Here's a headline that'll make your blood run cold:
Home prices down in 90% of Bay Area ZIP codes

The SF Gate article that follows that headline is required reading for anyone looking to sell or buy in San Francisco.

Want to cut to the chase? Enter your ZIP code here, and check median prices, price changes, and the foreclosure rate in your area.

Eating in your neighborhood...and beyond

2008-11-04T17:00:00.000-08:00

Whether you're a recent transplant to the Bay Area, or have been living (and dining out) here for decades, finding new restaurants can be a challenge.

Heck, remembering the name of that place you dined at last month can be tough.

The Chowhound website has a handy bulletin board devoted to all things culinary in the greater San Francisco area. You can monitor the "best Italian" debate, get early reviews of new restaurants, and even post your own questions and comments.

The search function lets you find pho near the financial district or truffles near Twin Peaks. Yum!

The Bank of Sealy Posturepedic? Not so fast…

2008-11-01T16:00:00.000-07:00

The markets are in an apparent free fall, the economy is in turmoil, and everyone keeps asking variations on: "Should I stash my cash under my mattress…or go bargain hunting?"

Clearly, everyone has different tolerance for risk, but here's the advice I'm giving my clients right now.

On the sell side: If you don't have a major life event forcing you to sell right this instant, do everything you can to hold tight.

If you must move, consider renting out your current home and then renting in your new community. This buys you some time while the markets stabilize.

On the buy side: You can find deals, especially if you have cash. It's anyone's guess where we are in the downturn cycle, but if you can buy and hold for at least five years, now's a good time to start looking.

In the Central Valley, we're seeing single family homes that are cash flow positive for the first time first time in a generation.

Here in San Francisco, home prices have dropped an estimated 5% to 15% from their peak, depending on who's crunching the numbers. Whether they'll fall further, and by how much, is the multi-million dollar question.

My clients are getting their financing ducks in a row now, and looking at plenty of properties so they'll be ready to jump when we find the perfect place at the perfect price.

Zen by the Beach

2008-10-29T06:44:00.001-07:00

I wish I were the listing agent on this wonderful property. I held an open house here last Sunday as a favor to a buddy of mine , and I just didn't want to leave.

This outer, outer Sunset home at 1330 47th Avenue is just two blocks from the beach and two blocks from Golden Gate Park. This neighborhood is not for everyone, but if you dig the outer Avenues, you need to take a serious look at this Asian-inspired home.

The main house (1,506 sq. ft.) has three bedrooms, two-and-a-quarter baths, and great features like a fireplace, office nooks, skylights and roomy closets. Built in 1938, it was remodeled by a local architect and artist.

At the back of the property, there's an unwarranted artist's studio (approx. 700 sq. ft.). Between the two structures is a gorgeous garden. Oh, and two car, side-by-side parking in a spacious garage!

It really is "Zen by the Beach." For more details and photos, see the listing site.

Arkitektura In-Situ sale starts Nov. 8

2008-10-28T12:59:00.000-07:00

If you've ever coveted the über-gorgeous goods at the Arkitektura In-Situ showroom, grab a pen and your calendar.

Their annual sale runs November 8 and 9 from 10 a.m. to 6 p.m. Check their site for the address and map, if you don't already have their location programmed into your GPS and/or DNA.

The buzz I've been hearing is 20 to 70% off—plus an extra 5% for the first 200 customers each day. Nearly everything in their showroom costs the earth, but it's the most beautiful modern furniture in the city.

Y'know, I almost purchased a pair of incredible bar stools there once, but I decided to buy a car instead.

What's the big deal about Jumbos?

2008-10-01T14:00:00.000-07:00

Right now, rates on conforming loans (up to $417,000, or 80% of a $521,000 property) can be had at roughly 6% for a 30-year fixed rate, with one point to the lender at closing. However, in San Francisco that's not going to get you more than a smallish condo or a TIC (tenants in common) property.

If you're looking for a single-family home, you need to know about conforming Jumbo and Jumbo loans So, what's the diff?

The conforming Jumbo is for loan amounts between $418,000 and $729,000 (or an 80% loan on a 912K purchase price). However, the limits on conforming Jumbos are being lowered to $625,000 at the end of 2008. Presently, conforming Jumbos will run you 6.25% for a 30-year fixed rate with one point to the lender at close of escrow.

The Jumbo includes loans over $729,000. They’re currently available for loans of up to $1.1 million at around 6.75% for 10 years fixed, going to variable for years 11 through 30. The standards on these loans are even more stringent than those of lower value loans, and they also require at least a point at close of escrow.

While the financing arena is certainly tougher than its been for years, it is still possible to finance a home. (Do I need to mention that I'm just the person who can help you jump through lenders' hoops?)

Only the loan-ly...

2008-09-30T11:00:00.000-07:00

The U.S. economy is in massive turmoil, stocks look like they’re in free fall, and most of my friends are putting their money under their mattresses. The news says the credit markets are frozen.

There can’t be any way to get a home loan now, right?

Well, not exactly. While lending standards have gotten tougher (long overdue, in my opinion), there are lenders out there making loans.

Earlier this week I asked Susan Weber Pomelia of Residential Pacific Mortgage for her take on the lending market. Here's the skinny:

1. Make sure you pre-qualify before you fall in love with a house.
Lenders are much more stringent about down payments, verifying income, and credit scores. While a very few lenders are willing to make 90% loans, most are requiring at least 20% cash down.

2. Be prepared to provide two years of tax returns, W-2’s and other financial documentation.
Lenders want to see a ratio of no more than 45% of income going to total debt (including credit cards, car loans, etc.). The days of stated income/no documentation loans are over.

3. Manage your credit carefully to keep your credit scores high.
This is a good idea any time.

If you have specific questions about financing or buying a home in the San Francisco Bay Area, please email me at Vision Real Estate.

Welcome to my neighborhood(s)...

2008-09-29T10:00:00.000-07:00

According to Wikipedia, San Francisco residents have 100+ distinct neighborhoods or developments to call home. How many can you name?

Alamo Square
Anza Vista
Ashbury Heights
Balboa Park
Balboa Terrace
Bayview
Bernal Heights
Buena Vista
Castro
Cathedral Hill
Cayuga Terrace
China Basin
Chinatown
Civic Center
Clarendon Heights
Cole Valley
Corona Heights
Cow Hollow
Crocker-Amazon
Diamond Heights
Dogpatch
Dolores Heights
Duboce Triangle
Embarcadero
Eureka Valley
Excelsior
Fillmore
Financial District
Fisherman's Wharf
Forest Hill
Forest Knolls
French Quarter (Belden Place)
Glen Park
Golden Gate Heights
Haight-Ashbury
Hayes Valley
Hunters Point
India Basin
Ingleside
Ingleside Terraces
Inner Sunset
Islais Creek
Jackson Square
Japantown
Jordan Park
Laguna Honda
Lake
Lakeside
Laurel Heights
Little Hollywood
Little Russia
Little Saigon
Lone Mountain
Lower Haight
Lower Pacific Heights
Lower Nob Hill
Marina District
Merced Heights
Merced Manor
Midtown Terrace
Miraloma Park
Mission Bay
Mission District
Mission Dolores
Mission Terrace
Mount Davidson
Nob Hill
Noe Valley
North Beach
NoPA (North of the Panhandle)
Oceanview
Outer Mission
Pacific Heights
Park Merced
Parkside
Polk Gulch
Portola
Portola Place
Potrero Hill
Presidio
Presidio Heights
Richmond District
Rincon Hill
Russian Hill
Safeway Heights
Saint Francis Wood
Sea Cliff
Sherwood Forest
Silver Terrace
South Beach
South of Market
South Park
Sunnyside
Sunnydale
Sunset District
Telegraph Hill
Tenderloin
Treasure Island
Twin Peaks
Union Square
University Mound
Upper Market
Visitacion Valley
Vista del Mar
West Portal
Western Addition
Westwood Highlands
Westwood Park

San Francisco's incredible diversity is just one reason I'm a real estate agent. For my full story, visit my website.