Archive for December, 2009
Simultaneous Bottom For Rates And Home Prices?
Back in May 1933, about 3.5 years after the Great Depression began, investment luminary
Dean Witter said:
“Some people say they want to wait for a clearer view of the future. But when the future is clear, the present bargains will have vanished. In fact, does anyone think that today’s prices will prevail once full confidence has been restored?”
These words have particular relevance for homebuyers and owners today, about 3.25 years after home prices began crashing and eventually led to what many economists have called the Great Recession.
Copyright © 2009, The Basis Point, Inc., All Rights Reserved. Reprinted with Permission.
Yes, the Housing Market Has Rarely Looked Better
By JAMES B. STEWART
Passing through the Fort Myers, Fla., airport a few weeks ago, I noticed people eagerly signing up for a free bus tour of foreclosed real estate—with all properties offering water views. During the ride to my hotel, the young driver volunteered that he had just bought his first house, paying $65,000 for a foreclosed property in nearby Cape Coral that last sold for over $250,000. He said he had never expected to be able to buy anything on a driver’s salary, let alone something that nice.
Last week, Standard & Poor’s reported that its S&P/Case-Shiller U.S. National Home Price index of real-estate values increased this past quarter over the first quarter of 2009, the first quarter-on-quarter increase in three years. Its index of 20 major cities also rose for the three months ended June 30 over the three months ended May 31, with only hard-hit Detroit and Las Vegas experiencing declines. The week before that, the National Association of Realtors reported that sales volume of existing homes was up 7.2% in July from June.
In short, the data suggest that real-estate prices hit a bottom some time during the second quarter, and have now begun to rise. There’s no way to be certain that this marks the end of the long, painful correction that followed the real-estate bubble, but clearly prices are no longer in free-fall. That means if you’ve been sitting on the fence, it’s time to act.
Ordinarily I’d never try to time the real-estate market, but I can understand why buyers have been cautious. Few want to buy in down markets, just as stock buyers avoid bear markets. And for most people, of course, buying a house is a much bigger decision than buying a stock. But with real-estate prices nationally now down about 30% from their 2006 peak and showing signs of turning up, the prices aren’t likely to go much lower. Every real-estate market is local, and so there may be a few exceptions. Overall, though, I can’t imagine a better time to buy than now.
In addition to bargain prices, buyers also should find plenty of homes to choose from. The inventory of unsold homes was 4.09 million units in July, up 7.3% from June, according to the National Association of Realtors. And mortgage rates this week were at a two-month low of close to 5%, according to Zillow. Even the stricter appraisal process is working to the advantage of buyers. Appraisals are coming in far lower than most sellers have been expecting, forcing them to face the new reality of sharply lower prices. And with stricter standards, lenders aren’t going to let buyers borrow more than they can afford, which protects buyers and helps to keep prices down.
Unless you’re really prepared to accept the demands (and headaches) of being a landlord, I don’t recommend direct ownership of real estate as an investment. The days of buyers lining up to flip Miami Beach and Las Vegas condos are mercifully gone.
There are much easier ways to make money in real estate, such as real-estate investment trusts or buying shares in home builders and other housing-related businesses (such as Home Depot). Historically, the mean rate of return on real estate has been around 3%, according to research from Yale economist Robert Shiller, who co-developed the Case-Shiller index. Shares in REITs and other stocks have often done much better.
But there’s a good reason homeownership has been such a central part of the American dream. It delivers security, pride of ownership, a sense of community and decent investment returns as a bonus. I felt glad for my driver in Florida. He represents the other side of the foreclosure crisis. For every hardship story, and no doubt there are many, others are realizing their dreams of home ownership and getting what may well turn out to be the deals of their lives.
James B. Stewart, a columnist for SmartMoney magazine and SmartMoney.com, writes weekly about his personal investing strategy. Unlike Dow Jones reporters, he may have positions in the stocks he writes about. For his past columns, see: www.smartmoney.com/commonsense.
Savvy buyers use self-directed IRA to buy homes
Carolyn Said, Chronicle Staff Writer
Tuesday, September 1, 2009
(08-31) 18:44 PDT –
Nathan Foran used his self-directed IRA to buy a dilapidated foreclosed house in Richmond for $25,000 cash. Another $25,000 to $35,000 from the retirement account will go toward fixing up the property. He then hopes to rent it out for about $1,000 a month, money that will go straight into his retirement account.
Foran, 40, a San Anselmo real estate broker and investor, sees a lot of advantages in investing in real estate through his individual retirement account.
“The net rental income goes into the IRA, so it’s generating money tax deferred,” he said. “Once I sell, the money also goes directly into the IRA without capital gains tax. If I hold onto it for five to seven years, it probably will be worth in the low $200,000s, so I’ll get a sizable gain. If I find another property I think will appreciate faster, I can sell this and use the funds to invest in that one. The IRA is a good long-term investment tool.”
With many properties at bargain-basement prices, more people have been turning to their self-directed IRAs as a ready source of capital to make real estate investments. Companies that manage self-directed IRAs say real estate investments by their clients are up as much as 30 percent over the past year.
But experts caution there are a range of potential issues and gotchas – including ones that could even disqualify the entire IRA.
Self-directed IRAs account for just 2 percent of the $4.2 trillion IRA market, but are among its fastest- growing segments. They allow access to a variety of investment vehicles beyond just stocks and bonds. The IRS closely regulates them, and any real estate investments must be handled by IRA custodian firms that hold the property inside the IRA.
Can’t live in property
IRA owners can invest in any kind of real estate – raw land, commercial properties or residential rental properties. They cannot invest in a property they already own or plan to live in, however.
The retirement funds “represent a large amount of untapped capital for investors that they can more actively manage,” said Brad Hemstreet, vice president of sales and marketing for Equity Trust Co., a Cleveland company with $8 billion of IRA funds under management.
After the recent stock market downturn, “people are pulling out of Wall Street and want investments they understand and are comfortable with,” he said. “Many people look at owning a property as a far better investment than owning a stock or bond.”
Mary Kay Foss, a CPA and director of the Danville office for accounting firm Greenstein, Rogoff, Olsen and Co., said using IRAs to buy real estate can negate many tax advantages.
“Real estate is already one of the best investments you can have, tax-wise, because you can deduct all of your expenses, and when you sell it, you pay long-term capital gains (at 15 percent, much lower than income tax),” she said. “But if you have it in an IRA, none of the expenses are deductible. When it’s sold, any profit is taxed when you take it out (of the IRA) as ordinary income.”
Investing in real estate with a Roth IRA has fewer drawbacks, she said, because distributions are tax-free once the account has been in place for at least five years, although “you still have the downside that you can’t deduct any expenses.”
Must follow IRS rules
People who invest in real estate through an IRA have to make sure they adhere to IRS rules or they risk disqualifying the account, which carries heavy tax penalties. Neither they nor their relatives can live in the property. They cannot pay any expenses directly; everything from repairs to property taxes must be funded from the IRA. That means they must make sure their IRA has enough liquidity to handle expenses. If they have to add money, they pay a penalty.
“At this price point, I’m able to do the entire transaction with my IRA,” Foran said about his $25,000 property. “I wanted to be very safe and make sure I have plenty of buffer in there so I won’t have to do a capital contribution to keep that property afloat.”
Companies that manage self-directed IRAs said they fully disclose all rules and recommend that investors educate themselves and consult their own accountants.
“Generally people in the real estate IRA business are very savvy about the market and investment properties,” said Hugh Bromma, CEO of Oakland’s Entrust Group, which has $4 billion in IRA funds under management. “They’re picking up selected properties in areas that will be conducive to long-term appreciation.”
About 30 percent of Entrust’s clients invest in real estate, he said. Foran is among them. Entrust charges $250 a year to manage a single property, plus fees for purchasing the property.
Most IRA real estate investors buy properties with all cash, the simplest approach. If they don’t have enough funds to do that, they can partner with other IRA account owners, or even partner with themselves, for instance paying half from their IRA and half from their personal savings.
30% down required
A handful of banks offer mortgages to IRA investors, but they must put down at least 30 percent, and they pay a higher interest rate because the loans must be nonrecourse, meaning the banks cannot go after other assets.
Once IRA account holders reach age 70 1/2, they must start taking minimum required distributions from their account. What if they have a house held in the account and can’t sell it? “You can take a portion of it and transfer it to yourself,” said Kathy Holcomb, business development officer at Pensco Trust Corp., a San Francisco IRA management company.
Suzanne Gregg, an agent with Paragon Real Estate Group in San Francisco, has bought and flipped a couple of properties through her IRA and said she tripled her money.
“It’s not like you just buy a stock online and forget about it; it’s a little more hands on,” she said. “It’s a tangible asset you can see and manage.”
E-mail Carolyn Said at csaid@sfchronicle.com.
This article appeared on page DC – 1 of the San Francisco Chronicle
DROPPING A BRICK
DROPPING A BRICK from Economist.com Jul 16th 2009 Article.
Investors may be too complacent about the outlook for property TWO bear markets in the past decade have made many investors reconsider their attitude towards equities. The argument that shares are the best investment for the long run no longer sounds quite so convincing. Property is not yet the subject of such disillusionment. Already, in the British residential market at least, estate agents are talking as if the crisis is over. Many people seem to assume that once the recession has finished, property prices can resume their traditional upward course. But if equities are doomed to struggle, property will surely follow. The terrible performance of the Japanese equity market over the past 20 years is well known. It is easy to forget that property prices have suffered almost as much. Japanese land prices are still 58.5% below their 1991 peak, and indices of residential and commercial property are 44.3% and 73% below their highs respectively. One should expect a rough link between equities, property markets and economic growth. Neil Turner of Schroders, an asset-management group, says a simple model suggests that property returns should equal the starting yield plus rental growth. In turn, rental growth is linked to income growth and thus to nominal GDP. On the same basis, equity returns should be equivalent to dividend yield plus dividend growth, with the latter linked to GDP. Over the past decade, however, property seems to have performed much more strongly than equities. Only in 2008 did the IPD index of global commercial property show a negative return. But the 10.1% fall (in dollar terms) was a lot better than the 40.3% plunge in the MSCI world-equities index. Over the previous decade, from 1998 to 2007, an investor who put a notional $1,000 in the IPD index would have trebled his money (assuming he reinvested his income) while an equity portfolio tracking the MSCI index would have merely doubled. Part of that outperformance may be the result of the stratospheric valuations on which equities traded in the late 1990s. Property values started from a much more reasonable base. But property’s relative stability may be an illusion caused by an illiquid market; values have simply not been marked down as much as they should have been. The fact that British property returns were the second-worst of all countries in the IPD database in 2008 was not just down to a lousy economy. It was because British companies tend to be quicker to adjust values to reflect recent transactions. Other countries are slower to act, but the mask occasionally slips. Earlier this year the John Hancock tower, a Boston office building, was auctioned for $660m. It had been bought for $1.3 billion in 2006. The Hancock deal was a distressed sale, of course. But other such deals will surely follow. In a recession vacancy rates rise, rental income stagnates or falls, and financing is both more expensive and harder to renew. David Skinner of Aviva Investors, a fund-management group, says that property prices since 2000 have been driven not by fundamentals but by the availability of credit. Property was indeed a great investment at a time when financing was easy and recessions were occasional and mild. But that world has disappeared for a while. Even low interest rates may not help, as the Japanese example has illustrated over the past 20 years. The naive belief that American house prices could not fall at the national level has been exposed by the current crisis. The belief that property prices must rise over periods of a decade or more may also prove to be false. Figures from Robert Shiller of Yale University show that real American house-prices were lower in 1945 than they were in 1900, for example. In a world of low inflation that means they could easily fall in nominal terms. What about the argument that the result of this crisis will inevitably be inflation? Surely property would be a good hedge against such an outcome, as rents would be expected to keep pace with higher prices in the long run? It sounds good in theory, but in practice the result of inflation would probably be a one-off rise in rental yields caused by a sharp fall in property prices. The 1974-1976 inflationary downturn in Britain saw cumulative commercial-property losses of 45%; yields rose from 5.7% to 8.7% between 1973 and 1975. Any increase in inflation would also lead to higher interest rates, causing further problems for leveraged investors. A strong economy is a far better backdrop for property than inflation ever could be.
Market Reports
San Francisco: Week by week trend charts for the past 6 months through October 25, 2009:
SF Median Sold Home Price (SFD, Condo, TIC) – for all homes, pretty much unchanged over past six months (declining from $702,000 to $695,000). Comparing the average median for the previous 3 months, with the latest 3 month period, SFD median has declined from $774,000 to $737,000, while Condo median sales price has increased from $676,000 to $696,000. One probably shouldn’t read too much into fluctuations of 1% to 5% in median prices: median prices are affected by other issues besides changes in value and they tick up and down every week/month. The basic point is how stable prices have been since the sales surge that began in the spring.
Paragon’s July Market Update Newsletter — What Costs How Much Where in SF: prices and $/sq.ft. by neighborhood
http://www.paragon-re.com/Newsletter.aspx
Paragon’s Report on the Under $750,000 SF Home Market
http://www.paragon-re.com/postings/09-09_Under_750K_SF_Home_Market.html
Paragon Luxury Home Market Report:
http://www.paragon-re.com/postings/08-09_Luxury_Home_Report.html
Analysis of Market Trends in Charts — Updated:
http://www.paragon-re.com/postings/Market_Dynamics_Statistics.html
San Francisco Farmers Markets:
http://www.paragon-re.com/postings/SF_Farmers_Markets.html
Who is San Francisco: City Demographics
http://www.paragon-re.com/postings/Who_is_San_Francisco.html
San Francisco Online Resources – Updated July 2009
http://www.paragon-re.com/postings/San_Francisco_Online_Resources.htm
The June Market Update Newsletter – What You Get for How Much Where in SF: sales at specific price points
http://www.paragon-re.com/PreviousNewsletter.aspx
Paragon Market Share Statistics — Updated:
http://www.paragon-re.com/postings/Paragon_Market_Share_Statistics.pdf
Property Tax Appeals:
http://www.paragon-re.com/postings/SF_Property_Tax_Appeals.html
Appreciation & Depreciation of SF Real Estate since 1995 – updated July 2009:
http://paragon-re.com/postings/SF_Home_Appreciation_&_Depreciation_since_1995.pdf
Rent vs. Buy: Sample Analysis
http://www.paragon-re.com/postings/Rent_vs_Buy_$2600_rent_to_$650k_purchase.pdf
Paragon Weekly Market Update Report by Neighborhood – by Altos Research
Connecting Your Home in San Francisco
Electricity & Gas:
PG&E
1 (800) 743-5002
Garbage & Recycling:
Sunset Scavenger
(415) 330-1300
SF Recycling & Disposal, Inc.
Paint Recycling & Household Hazardous Waste Collection Facility
(415) 330-1400
Open Thursday through Saturday from 8:00 am through 4:00 pm
Water:
San Francisco Public Utilities Commission
(415) 554-3155
Mail:
U.S. Postal Service
1-800-ASK-USPS® or (800) 275-8777
Telephone Customer Service Hours of Operation:
Monday through Friday from 8:00 a.m. to 8:30 p.m. (Eastern Time)
Saturdays from 8:00 a.m. to 6:00 p.m. (Eastern Time)
Closed Sundays and Holidays
Telephone:
SBC
(800) 310-2355 Residential
(800) 750-2355 Business
Weekdays 8 am to 6 pm, and Saturday from 8:30 am to 5 pm
AT&T
1-800-222-0300 General Inquiries
Cable, Satellite, and Internet Services:
Comcast Cable
1-888-COMCAST
Dish Network
(888) 825-2557
SBC DSL
(877) SBC-DSL5
Comcast Internet
(888) COMCAST
Speakeasy, Inc.
(800) 556-5829
Helpful Real Estate Links
Communities By Design – Development Partnering Opportunities
City and County of San Francisco – Planning Department
City of San Francisco – The Rent Board
Helpful Phone Numbers
| Please call companies to confirm their respective status and fee schedules. | |
| 1031 EXCHANGE FACILITATOR: | |
| Leonard Spoto | 877-471-1031 |
| Tiki Tsakiris | 650-745-5974 |
| ACCOUNTANTS/CPA: | |
| Greg Calegari (Calegari & Morris) | 981-8766 |
| Taxes Limited, Michael Gray | 621-2261 |
| Charles Proses | 776-1856 |
| Bob Borelli | (650) 697-9491 |
| ALARM COMPANIES: | |
| ADT/National Guardian | 800-238-2727 |
| Honey Well | 1-800-649-2022 |
| APPLIANCE REPAIRS: | |
| Always-Ready Appliance Repairs | 970-0070 |
| Continental Appliance Co. | 239-4114 |
| Otto’s (Tony) | (650) 588-0309 |
| Walt’s | (650) 756-8474 |
| Elite Refrigeration 400-0309 | (Bruce) (650) 348-2010/(650) |
| Lee’s Appliance | (650) 992-2431 |
| Parkside Appliance Service (Tom) | 415-731-4489 |
| APPRAISERS: | |
| Steven I. Varon | 415-440-0084 |
| Mike Ondino | 750-5417 |
| Michael Botta | (650) 348-5798 |
| Henryk Sek | 252-7000 |
| Jim Flack | 398-1211 |
| Joni L. Regney | 245-9845 |
| Steve Lenchner | 931-7001 |
| Allan J. Saghi | (650) 652-4542 |
| Carlee McCarty | 567-8035 |
| Steve Cox | 564-4305 * |
| Linda Claxton | 897-0880 |
| Andrew Wells | 453-9990 |
| Jeff Gibson | 577-5310 |
| ARCHITECTS: | |
| Sylvia Kwan | 415-901-7203 |
| Sternberg-Benjamin | 415-882-9783 |
| Michele Kaufmann | 510-271-8010 |
| William Meyer | 433-8480 |
| David Teeters | 826-1907 |
| Dan Phipps | 776-1606 |
| Allan M. Levy | 771-6766 |
| Bruce Avico | 922-1954 |
| Bruce Bauman & McManus | 397-7416 |
| Heller | 247-1100 |
| Nancy Scheinholtz | 392-0299 |
| Piero Patri & Merker | 957-0200 |
| Holscher Architecture | (Phoebe Holscher) 435-0312 |
| Richard Lee Parker (son-in-law/Sandy Walker) | 546-0450 |
| ASBESTOS INSPECTION/ABATEMENT: | |
| Synergy Environmental, David Price | 1-800-439-9610 |
| Precision Works, Pete | (650) 261-6320 |
| ATTORNEYS, FAMILY LAW: | |
| Michael C. Tobriner | 415-981-9801 |
| ATTORNEYS (GENERAL): | |
| John H. O’Reilly | 392-2860 |
| Clifford Fried | 552-8230 |
| ATTORNEYS, REAL ESTATE: | |
| Gael Bizel-Bizellot | 415-956-8100 |
| Jaime C. Uziel, Esq | 415-296-0900 |
| Andrew Sirkin | 415-621-5600 |
| Andrew Weigel | 415-552-8230 |
| Barbara Herzog & Peggy Berlese | 861-8800 |
| Dave Cincotta | 771-2122 |
| G. Hamilton Hauck | 399-0270 |
| Judi Cohen | (510) 987-8300 |
| Steger Johnson (mediation/arbitration) | 788-1717, VM: 789-8600 |
| Clifford Fried, Andrew Weigel or Dennis Hyde | 552-8230 |
| Joseph Bravo | 394-6300 |
| Michael Rossoff | 863-7100 |
| Ben Kaplan | 447-8300 |
| Michael Hall | 512-9865 |
| Patricia Fyfe | (650) 952-5205 |
| Alex Weyand | 399-2900 |
| AUDIO: | |
| Hidden Connections, Cy | (510) 865-3940 |
| Audio Vision, Kevin Ebrihimi | 614-1118 |
| BRICKLAYER: | |
| Joe Vaccaro | 621-7782 |
| CARPET: | |
| Strausz Carpet Co., Tom Strausz | (510) 428-2828 |
| Abbey Carpets, Chuck McMeechan | 752-6620 |
| Orlando Carpet (carpet/vinyl layer) | 757-3516 |
| Ogden Contract Interiors, Inc. | 824-9975 |
| CARPET CLEANERS: | |
| Dome, LLC | (415) 442-4668 |
| Clean Care | 586-9442 |
| B & G Chem Dry, Gren | 664-1330 |
| Golden Crew, Louie (Oriental Carpets) | 751-6778 |
| Superb Carpet Cleaning, | Dave Weigel 698-2664 (pager) |
| P & C Carpet Care | 800-293-2903 |
| Coit Carpet Cleaners | 800- 367-2648 |
| Tarry Towel | 650-341-2345 |
| Andrew Zack and Denise Leadbetter | 956-8100 |
| CATERERS: | |
| Signature Dish, Lynn Mason/Jeannie Hopper | 452-3456/585-6593 |
| Taste | 550-6464 |
| Melissa R. Teaff | (707) 226-8504 |
| Oakville Grochery | 614-1600 |
| CLEANING SERVICES: | |
| Dome, LLC | (415) 442-4668 |
| Cleaning Angels, La Ronda Smith | 229-1220 |
| Clean Team | 621-3678 |
| Gold Brush, Elie | 586-8569 |
| Clean Up Man | 566-5598 |
| Jax Home Care (Jack McCarty) | 350-9060 |
| Cleanerific | 820-7230 |
| CLOCK REPAIR: | |
| Dorian Clair | 648-8680 |
| Vince Cardinale | 221-0804 |
| COMPUTER HELP: | |
| Jack Moore | 821-4609 |
| Hank Stephenson | 793-0300 |
| CONTRACTORS FOR INSPECTIONS: | |
| Tom Mitchell | 921-8400 |
| Reed Lagerdrost | 467-1490 |
| Bay Pacific Inspection Services, Gary Yee | 921-4254 |
| GCIS (Roger, Ken, Mark, Alec) | 822-9090 |
| Steve Gogol | 333-9733 |
| John Karigan | (650) 992-3042 |
| Diverse Inspection Services, Evan Donaldson | 665-8288 |
| Joe Zilioli | 531-4582 |
| Bill Kaul | 333-9733 |
| Jim Arnest | 239-6977 |
| AGAPE (Marcus Moreno) | 468-6773 |
| Greg Bruce Inspections | 794-9169 |
| CONTRACTORS NOT FOR INSPECTIONS: | |
| John Pollard | 415-826-0606 |
| Ryan Associates, Paul Ryan | 861-3085 |
| Stroub | 331-0621 |
| JMK Construction, Jim Kunz | 221-8272 |
| Rich Muratore (coops/condos) | 826-1220 |
| Tom Gust | 387-9593 370-3663 (cell) |
| Peter Downey | (510) 644-1219 |
| Olympia Restorations (dry out flooded areas, etc.) | 1-800-606-4110 |
| Leo Ickovic | 674-9901 |
| Salamdra Assoc. | (510) 848-8994 |
| Lewis Butler | 922-7294 |
| DOMESTIC STAFFING AGENCY: | |
| Aunt Ann’s Agency (nannies, cooks, etc.) | 974-3530 |
| DRAFTSMEN/DESIGN: | |
| George Jacobs | 731-2367 |
| Mary Osborne | 461-4478 |
| Leonardo Calzadilla | 864-8084 |
| “As Built” | 457-8202 |
| Keith Phillipson (specialty floor plans, renovations) | 552-9988 |
| ELECTRICIANS: | |
| Sierra Electric | 752-2850 |
| Delta Electric | 239-2507 |
| Rich Navarro | 239-2949 |
| Eagle Electric | 863-4080 |
| Dev Electric | 553-3900 |
| Retter Electric | 221-5320 |
| Peter Dodds | 440-8500 |
| Santoro Electric (Anne Icardi) | 566-1173 |
| ELEVATOR COMPANIES: | |
| Dwan Elevator (maintenance & repair) | 552-3074/3077 |
| Acme Home Elevator | 206-1566 |
| ENERGY INSPECTORS/CONTRACTORS: | |
| Save Energy | 824-6010 |
| Patrick O’Connor | 823-0335 |
| Brian Cassidy | 650-347-2222 |
| Steven De Lorenzi | 606-8789 |
| ENGINEEERS | |
| Santos and Urrutia | 415-642-7722 |
| ENGINEEERS, STRUCTURAL: | |
| Tom Lutge, Quake Structural | 664-8433 |
| Peter Culley | 693-1600 |
| Pat Buscovich | 788-2708 |
| Dasse Design, William Dassner | 243-8400 |
| John Yardegar | 243-0858 x303 |
| ENGINEERS, SURVEYOR: | |
| GLA, Yonda Gin | 956-6707 |
| KCA Engineers, Inc. | 546-7111 |
| Transamerican | 553-4092 |
| Meridian Surveying, Stanley Gray | 861-3687 |
| Ben Ron | 543-4500 |
| ENVIRONMENTAL: | |
| HMA(Hazard Materials Abatement), | |
| Scott Compton | (510) 638-4801 (GCIS) |
| Environmental Services | 777-3334 (GCIS) |
| Golden Gate Tank Removal | 512-1555 |
| FENG SHUI CONSULTANTS: | |
| Terumi Leinow | 488-4580 |
| FINANCIAL ADVISOR: | |
| David Neeve – Morgan Stanley | 415-693-6119 |
| George Brewster – UBS | 415-954-5923 |
| Darrach Bourke – UBS | 415-954-6808 |
| FINANCIAL AND TRUST SERVICES: | |
| David Harrigan | 415-693-3814 |
| Teresa Rabenberg | 415-693-3811 |
| FIREPLACE CONTRACTORS/INSPECTORS: | |
| Fireplace Inspection Services, Joe Rizzo | 252-0676/381-1550 |
| London Chimney Sweep | 931-3838 |
| Tom Corbett | 824-4869 |
| A-1 Chimney | (650) 756-0122 |
| FLOOR REFINISHERS: | |
| Visalli Floors | 586-0307 |
| Lana Floor Coverings | 643-7020 |
| My Hardwood/Peter Hardwood Floors | 665-3579 |
| Boyd Floor Covering Inc., Ken Reeves | (707) 823-1014 |
| Deluxe Floor Co., Harlen Hamner | (510) 529-1865 |
| Tree Lovers Floors Inc. | 863-6833 |
| Craftcare Hardwood Floors, Bryan McCue | 826-6330 |
| Sunset Hardwood Floors, Dave McNeilly | (650) 343-1182 |
| Billy’s Hardwood Floors | 752-5889 |
| FURNITURE RENTAL: | |
| Cort | 415-982-1077 |
| GARAGE CONTRACTORS: | |
| Add-A-Garage, Fred Pavlov | 567-3240 |
| Keegan Construction | 864-4508 |
| Automatic Garage Door Corp., | Jerry 648-6413 |
| Discount Garage Door Repair by | HK 931-1540 |
| GARDENERS: | |
| David Brown (will do small jobs) | 897-0889 |
| Efrain Gonzales | 510-635-9824 |
| David Wiedner | 558-9145 |
| Mike Bawson | 824-3458 |
| Admiral Green/Terry Mulrooney | 750-9002 305-3820 (cell) |
| Karen Paquin | 864-6939 |
| Stanleys Garden | 387-1155 |
| Gabriel Sims (tree trimmer) | 637-5826 |
| Bob A-1 Tree Tech | 753-8733 |
| Rose Reynolds | 650-348-1119 |
| Vicente Flores | 510- 569-5938 |
| Lon Shapiro Garden Co. | 752-7560 |
| Lucien Sainte Marie | 752-4321 |
| Bella Vita, Greg Unti | 837-0137 902-4496 (cell) |
| Ann Morrison | 650-714-0910 |
| Amy Steiner | 776-3587 |
| GLASS/MIRROR WORK: | |
| Star Glass | 474-3652 |
| HANDYMEN: | |
| Francis Starrack | 650- 219-3863 |
| Ron Simmons | 751-8690 |
| Ken Goodsell | 221-8793 |
| Anthony’s Handyman Svc. (does powerwashing) | 626-0796 |
| John Hanford | 668-1716 |
| Alan Briscoe Inc. | 215-4922 fax 567-4922 |
| Francisco Jimenez | 452-9770 |
| Sean Seymour | 748-1618 (cell) 558-9392 (home) |
| David Tejada | 585-3272 |
| Henry Yuen | 602-1215 |
| HAULERS: | |
| Hassle Free Hauling (Dan the Hauling Man) | 468-3713 |
| Big John | 861-3552 |
| Father & Son | 826-0325 |
| House Demolition, Ramon Barajas/Carlos | 584-6255 |
| Hauling, Inc. “Bill” | 441-1054 |
| Louis Butler | 431-0566 |
| “Basement to Attic Cleanout” (Corinne & Anne) | 469-9632 |
| Dan (The Hauling Man) | 468-3713 |
| HEATING CONTRACTORS: | |
| Atlas Heating | 552-7000 |
| Goss Heating & Sheet Metal | 751-0393 |
| Marshall Sheet Metal | 333-6547 |
| Peninsula Heating | 588-7669 |
| HISTORY OF HOMES: | |
| Tim Kelley | 337-5824 |
| HOME WARRANTY COMPANIES: | |
| American Home Shield, Janelle Beery | (800) 735-4663, pager: 299-5014 |
| HMS, Barbara Erickson | (800) 733-1515 x 7522 or 381-1457 |
| INSURANCE AGENTS: | |
| State Farm, Carlos Bermudez | 397-7173 |
| Fidelity Insurance Services, Steve Holland | (510) 548-8200 |
| Reinholdt Insurance, Carolyn Reinholdt | 346-5272 |
| Russ or Chris Nott, Allstate Insurance | 292-5441, 292-5445 |
| Costello & Sons (Mike Wardenberg) | 455-1515 ext. 110 |
| Tom Ryan, Allstate, Sausalito | 331-5763 |
| Greg Norris, State Farm, Mill Valley | 331-6500 |
| Allstate, Mike Mahoney, 2208 Union St. | 771-4044 |
| State Farm, Dick Russell | 931-8980 |
| Farmers, Craig Dellinges | 333-7272 |
| Ken Baron | 391-4920 |
| Ray Williamson | 585-2353 |
| NAME | PHONE |
| INTERIOR DESIGN: | |
| Shelby de Quesada | 673-2243 |
| John Tobeler | 546-6313 |
| Victoria Stone | 826-0904 |
| Audrey Owen, design & planning | 626-6731 |
| Kathy Hill/Diane Chapman | 346-2373 |
| Michael Tedrick | 434-3060 |
| Cheryl Ducoty | 626-8944 |
| Sandy Chandler | 454-1892 |
| Suzanne Tucker | 931-3352 |
| Pamela Belknap | 397-5400 |
| Ron Newman | 643-8370 |
| Alice Wiley | 563-8300 |
| Alexandra Owens | 346-2444 |
| Rob Salazar | 575-9500 |
| Paul Wiseman | 415-282-2880 |
| Angeline Grace Interiors | 264-6060 |
| KITCHEN DESIGN, EQUIPMENT & REMODELING: | |
| Kitchen Source @ Bath & Beyond | 552-5700 |
| Cheriny | 864-2111 |
| LAND SURVEYORS FOR CONDO CONVERSION | |
| Frederick T. Seher & Assoc., Rick Seher | 921-7690 |
| Langford Land Surveying, Richard Lanford | 530-5200 |
| Peri Cosseboom Licensed Land Surveyors, Peri | 391-9900 |
| KCA Engineers, Inc. Eric P. Scheller | 546-7111 |
| Jim Shyperlt | 650-347-6640 |
| LEAK FINDER: | |
| Rick Riley Construction | 665-1525, cell: 725-1525 |
| LENDER – DEVELOPMENT | |
| Connie Buchanan | 415-255-7755 |
| LENDER | |
| Steve Humphries – Citie | 415-370-7280 |
| LOCKSMITHS: | |
| Warman Locksmiths | 775-8513 |
| Lock’em Out | 550-8890 |
| Cassidy | 566-5545 |
| MARKETING: | |
| Keith Potter | 415-861-3545 |
| MOLD INSPECTORS: | |
| SAFE Environments, David Carls | (510) 236-1806 |
| WB & Associates, Ray (650) 738-9547 | |
| CSC (925) 931-0100 | |
| Health Science, Marco De Piramo | (510) 633-1366, cell: (510) 760-0236 |
| Bay Cities Mold Inspection | 927-3201 |
| MORTGAGE BROKERS: | |
| Steven Hook | 415-260-9376 |
| Eric Schleelein | 415-292-1999 |
| Austin Grammar | 415-292-9999 |
| May Woo | 415-237-0218 |
| Dennis Kowalski, Princeton Capitol Group | 229-1241 |
| Rich Gumbiner, InterBay Financial | 771-7400 |
| Dyan Tresenfeld, First Republic | 392-1400 x 4794/296-3794 |
| Judy Stern, First Security | 381-5550 |
| Bill Stuart, Wells Fargo | 877-892-6400 |
| Vartan Shahigian, Northern Trust | 381-5700 |
| MOVING COMPANIES: | |
| Cottrels | 431-1000 |
| George Elwell | 822-5500 |
| Don’s Moving & Storage (Joe Diefer) | 621-1800 (JG & Butterfield’s) |
| Peter Coach | 665-6491 |
| Irish Times Moving & Storage | (Martin O’neil) 773-1454 |
| McCarthy Moving | 564-7542, cell: 531-6411 |
| Jack Trux 821-4755 | |
| Cunningham Movers (family owned) | 822-4000 |
| Mejia’s Delivery and Moving | 724-4932 office 650-588-2011 |
| Australian Moving, Mark Brinkman | 225-8497 |
| Emerald Moving and Storage | 647-9300 |
| MOVING COORDINATORS: | |
| Changing Places, Margaret Fearey Walsh | 461-6257 |
| Transitions, Paula Spooner | 675-0467 |
| NOTE PURCHASER: | |
| Rex Ridgeway | 415-467-2658 |
| PAINTERS: | |
| Edwin Chan | 759-0108, Pager: 896-7908 |
| Michael T. Bellingham | 995-2521 |
| Golden State Painting | 1-800-945-9039 |
| Briggs Meyer | 285-4665 |
| Jack Wolfenden | 921-9294 |
| S.F. Renaissance & Restoration | 921-5197 |
| Accent On Excellence, Patrick Livingston | 750-3361 |
| Tom Gorman | 564-8444/564-9566 |
| Allison Hagio, Hagio Art (faux, tromp l’oel,etc.) | 385-2787 highly recommended |
| Stewart or Norcal | 740-9558 |
| Modamas Inc. | 885-4326 |
| Mark LeBerge | (650) 355-1986 |
| Crystal Springs Paint Co. | (650) 244-9691 |
| Motto Ivanko | (650) 574-8685, pager: (408) 772-7003 |
| Francis Starrack | (650) 219-3863 |
| Sheryl Mercune | (custom plaster/finishes, too) 221-3311 |
| Henry Yaen | 602-1215 |
| Stuart Stenwick | 740-9558 |
| PEN & INK DRAWINGS: | |
| Ken Hughes | 437-6985 |
| Clay Siebert | 822-5115 |
| Beth Changstrom | 531-1224 |
| PENSCO TRUST: | |
| Self-Directed IRA Facilitator | 415-274-5600 |
| PERMIT EXPEDITERS: | |
| TIC Condo Conversion | 415-495-5813 |
| Quickdraw | 415-552-1888 |
| Andy Forrest (consulting engineer) | 546-1077 |
| Bill Abend | 333-5595 |
| PEST CONTROL INSPECTORS: | |
| Lingruen Associates | 822-2324 |
| Paul Markoff (also does contractor inspections) | (650) 992-8900 |
| Steve Gogol | 333-9733 |
| Golden Gate | 334-6751 |
| JK Control | 468-2410/468-2002 |
| Wellington Contractors, Jim Hicks | 239-1700 |
| Cooke & Assoc. | 468-1212 |
| Diverse Inspections | 665-8288 |
| Marin County: Marin Termite | |
| Arnest | 239-6977 |
| PEST CONTROL SPRAYING: | |
| Marina Pest (good for ants, etc.) | 928-1918 |
| PHOTOGRAPHERS: | |
| Mark Dean | 415-320-2483 |
| Scott Wall | 865-0323 |
| Adam Willis | 307-4279 |
| PLANT RENTALS: | |
| Showplace Florist, Mike | 863-7374 |
| PLUMBERS: | |
| Emerald Plumbing | 650-344-9370 |
| Bob Sand | 415-621-5200 |
| Ogrady’s Plumbing | 621-6030/761-8243 |
| Stan’s Plumbing | 681-5442 |
| Bell Plumbing | 755-4444 |
| Kendall Plumbing, Ken | 861-4715 |
| Lutz Plumbing | 621-4292 |
| Malcolm Plumbing | 621-1985 |
| Bright Plumbing | 671-1500 |
| Cabrillo Plumbing | 821-0550 |
| Clausen Patton | 661-2050 |
| PROBATE CONSULTATION: | |
| Nicholas Poor | 415-393-6163 |
| PROPERTY MANAGEMENT: | |
| Chandler Properties | 415-921-8875 |
| Citiwide | 415-552-7300 |
| Karen Katz | 674-1595 |
| Chandler Properties | 921-5733 |
| RADIATOR CABINETS COMPANY: | |
| Ambiance Radiator Cabinets | 800-457-8340 |
| ROOFERS: | |
| Anderson Roofing | 584-9575 |
| Lawson Roofing | 285-1661 |
| Kelly Roofing, Jim Kelly | 822-6960 |
| Summit | 221-8192 |
| Tom Lee’s Roofing Co. | 333-5373 |
| Acme Roofing, John Dissmeyer | 587-5869 |
| Standard Roofing | 566-2049 |
| 101 Roofing (great inspections) | 695-0101 |
| STAGERS: | |
| Linda Bettencourt | 415-440-2910 |
| Green Couch – Jeff Schlarb | 415.336.3550 cell, 415.885.7966 office |
| Arthur McLaughlin | 673-6746 |
| Tracy Banks | 921-0300 |
| Sue Dwight | 776-6374 |
| Stuart Morton | 441-3322 |
| Center Stage, Linda Bettencort | 647-5000 |
| Baker Van Dyck | 332-9222 |
| Dale Zink | 810-2463 |
| SF Staging Consultants (Michelle and Laurie) | 722-9040 |
| Julie Jay | 235-7637 |
| Staged SF (Marc Sandius | 215-1464 |
| Redter Designs (Keris Redmond) | 990-8441 |
| JMH (Jana Holmes) | 776-9721 |
| STAIR BUILDERS: | |
| J. diCristina & Sons, Homer Eaton | 431-8111 |
| TILE/MARBLE SETTERS: | |
| Renaissance Stone (Restorers), Ken Barnes | 775-3211 |
| Tree Trimmers – Maintree | 650-224-1158 |
| UNDERGROUND STORAGE TANK CONTRACTORS: | |
| Golden Gate Tank Removal, Jim Tracy | 512-1555 |
| Bay Area Tank Removal | 543-2255 |
| SubSurface Environmental | 495-0600 |
| VIDEO TAPE POSSESSIONS: | |
| Skip Lehman | (510) 332-6347 |
| WINDOWS & DOORS: | |
| Andy Parker | 221-2222 |
| Ocean Sash & Door Co. | 863-1256 |
| Foxtail Windows, Vince | 822-8494 |
| Q Kim | 386-7000/ 377-2937 |
| WINDOW WASHERS: | |
| WWC Windows | 647-1880 |
| Richard Garibaldi | 441-2454 |
| Josh Wash | 346-2601 |
| Pacific Window Washing | 765-7615 |
| John & Tim | 800-287-7211 |
| Dave’s Building Maintenance, Inc. | 262-0200 |
Helpful Links
www.realtor.com
www.iravestor.com
www.cyberhomes.com
www.propertyshark.com
www.realtytrac.com
www.homegain.com
www.trulia.com
www.foreclosure.com
www.countyrecordsresearch.com
www.sftc.com
www.sfhistory.org
www.marketresearch.com
www.costar.com
www.loopnet.com
www.commrex.com
www.cimls.com
www.catylist.com
www.cityfeet.com
www.mapjack.com
www.socketsite.com
www.walkscore.com
www.neighborhoodcity.com
www.sfbaywindow.com
Developer Services
Click here to see new permits granted in San Francisco.
With over two decades of experience and hundreds of millions of dollars in real estate sales, our team is a premier Services Group for developers that are building multi-unit condominium buildings, high-rise, single-family renovation projects and more in San Francisco and the Bay Area.
InvestSF partners maximize the net present value of your real estate holdings by providing the most comprehensive development services available combined with the most dynamic sales and marketing program possible.
With our expertise and experience we will minimize your holding costs while making sure projects stay in budget and on time.
Who We Are and What We Do
We work with you from the beginning stages of the planning process through close of escrows. We work with you to launch your project by integrating strategic planning, interactive online media, print advertising, direct marketing and public relations.
Our “signature marketing” creates distinctive properties unique to each project and builder.
We offer a dynamic, innovative and honest approach that is focused on delivering outstanding results for our clients. We stand apart from the competition, and through our “signature marketing” our clients and their projects and buildings stand apart as well.
Our team is proud to be part of Paragon Real Estate Group – the number one real estate office for new condominium development in San Francisco. What does this mean to you? It means that we are big enough to make a difference for our clients, yet small enough that each client makes a big difference to us.
The Subdivision Process
Our team is noted for being subdivision specialists. We have familiarity with the state and city subdivision process. We will work with you throughout your project to explain and facilitate the subdivision process.
Our familiarity with local architects, attorneys, engineers, and surveyors allow us to provide you with key relationships that will increase project efficiency dramatically. This is crucial to the success of your project. When you run into a problem, we have the knowledge and experience to help you steer through it.
The Financial
We offer financial recommendations designed to help answer such questions as:
Should you sell or lease?
What types of finishes are appropriate for the project given the overall objective price-point/unit?
When should the project come to market?
Should you release the units in stages or all at once?
We advise you on these issues and more through the careful preparation of financial and market analysis that we continually review and modify. At the outset we will meet with you to reach consensus on objectives, strategies and tactics.
We will create effective strategies so that you navigate the challenges, and achieve your financial goals.
We will make a recommendations regarding:
- Whether or not to rent prior to selling in order to establish property as an investment for trade.
- Locating and purchasing trade property.
- Market timing.
The Marketing
What is “signature marketing?”
“Signature marketing” is to real estate project what “Branding” is to a consumer product.
We work with you to create distinctive projects by designing an individualized, savvy, results-oriented marketing program. We then define your projects market in order to develop the impactful communication strategies it will take to reach it. By effectively communicating your projects’ image and differentiating it from the competition we drive buyer interest and increase sales.
Whether this is your first project or you are a pro, there is no substitute for knowledge and experience. In today’s competitive, highly segmented world, consumer options are dynamic, ever changing factors that need to be analyzed exactly right in order to achieve success.
By analyzing and understanding the market place, we help you create a property that features the amenities that satisfy the wants and needs of today’s buyers, as well as delivering on the uniqueness that is San Francisco living.
The bottom line is that our professional expertise and creative skills permit us to understand the marketplace and successfully utilize superior marketing tools so that your project achieves consumer acceptance, and you reach your financial goals.
Services We Provide
- Signature Marketing
- Positioning Strategy
- Risk Management
- Sales Contract Negotiation & Management
- Financing & Buyer Pre-Approval
- Leasing
- Locate Exchange Parcels
- Subdivision Processing Assistance
- Market Research
- Pricing Analysis
- Design Assistance
- Access to our Builders Resource List
- Escrow Transaction Management
- Marketing for Condo Conversions
Most Recent InvestSF Projects:
12 Loft Condominiums
363 Valencia St.
San Francisco, CA
22 Loft Condominiums
360 6th St.
San Francisco, CA
24 Modular ‘Green’ Town Homes
15101 Washington Ave.
San Leandro, CA
30 Unit Condominium Conversion
720 Sunrise Ave.
Roseville, CA
3 Unit TIC Renovation
2089-2093 Golden Gate Avenue
San Francisco, CA
3 Unit TIC Renovation
1259-1273 Filbert Street
San Francisco, CA
28 Unit Condominium Conversion
942 Market Street
San Francisco, CA
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