Sales activity still strong, though number of new listings down (common in summer).

For every condo that sold, another had a price reduction.

For every SFD that came on market, more expired or were withdrawn.

Back on Markets still high, especially for condos.

                                      SFD                      Condo/TIC
New listings                      108                       118
Sold                                106                       94
Price Reductions                62                         95
Back on Market                 29                         50
Contingent                       93                         73
Pending                           101                       108
Withdrawn/Expired             138                       63

This week’s list of our upcoming listings, pocket listings, price reductions and unusual needs for buyers:

Upcoming listings:

$975,000 // Noe Valley //  Cesar Chavez   BR/BA:  3/2  PKG:  2 Brief Description: Top floor flat in 2 unit Edwardian building – Wonderful/large flat – move-in ready – shared garden and huge undeveloped attic in excellent shape.
 
$890,000 // Telegraph Hill // Greenwich St BR/BA: 1/1 PKG: 0 Brief Description: Cottage like getaway with expansive views of the bay – deeded deck with same views and undeveloped yard.
 
$674,000 // Pacific Heights // Broadway BR/BA:  1/1 PKG:  1 Brief Description: View one bedroom.
 
Pocket Listings:

$1,495,000 // Monterey Heights // Rosewood BR/BA: 4/3.5 PKG: 2 Brief Description: Tudor…still available to show.
 
$1,295,000 // Pacific Heights // Vallejo BR/BA:  2/2 PKG: 1 Brief Description:  Sexy remodeled (totally done) condo with bay views and large deeded deck.
 
Price Reduction:
 
$899,000 Old Price: $929,000 Neighborhood: Central Richmond // 274-21st Avenue    BR/BA: 3+/2 PKG: 2 Brief Comments:  Top floor Edwardian condo w/FDR, FP. Approx 1900 sf.
 
Unusual Buyer Needs:

Price Range: < $3,000,000 Neighborhoods: Marina and Cow Hollow    Brief Comments: My buyer needs a condo, Min BR/BA: 2/1, Top Floor, Any condition.
 
Price Range: <$2,000,000 Neighborhoods:  Telegraph Hill/Russian Hill   Brief Comments: My buyer needs a  VIEW condo/SFD/2unit – Min 2 bed/2bath, VIEW from rooms or a deck Will remodel if needed.
    
Price Range: <$1,900,000  Neighborhoods: Nob Hill ,Russian Hill, Telegraph Hill Pac Heights and the Presidio Brief Comments:  My buyer needs a Condo, Min-BR/BA: 2/2, Min 1850 sq ft, elevator, min 3 unit building max 15-20 unit (loves 990 Green).          
 
Price Range: <$350,000 Neighborhoods: Upper Market, Central North and Central East Brief Comments: Buyer Needs- 1-BR or Studio ok, parking NOT essential TIC ok, but cannot do fractional financing. MUST close by mid-September.

I thought it would be helpful to let everyone know that the Building and Planning , 3R division, ask desk at Planning, etc. at 1660 Mission Street have new hours that start at 9:30am. This change took place on 7/15. 

This week’s list of upcoming listings, pocket listings, price reductions and needs for buyers:

Upcoming listings:
$1,600,000 // Pacific Heights // Sacramento Street BR/BA: 4/3 PKG: 4 Brief Description: This is a great Victorian SFH, that had a 70’s remodel that opened up the floor plan with an incredible yard and great parking.  It hasn’t sold since the 70’s and needs a cosmetic re-do. Trust sale, no court confirmation.
 
$1,325,000 // Healdsburg // Chalk Hill Rd  BR/BA: 3/2.5  PKG: 6   Brief Description: 2+ acres in Alexander Valley, 1 hour from GG Bridge, 10 minutes to hburg plaza, 15 min to St Helena; pool, gardens, decks, patios and outbuildings. World class wines, dining and cycling.

Read more

(Received from the California Association of Realtors)

Qualifying for a jumbo loan—those with loan amounts higher than the conventional conforming loan limit of $729,750 in high-cost areas—is more difficult than it was a few years ago.
 
While rates on jumbo mortgage historically have been higher than rates on conforming loans, jumbo loans still are available, but often come with stringent underwriting requirements.  Prior to the credit freeze, borrowers of jumbo mortgages could qualify for loans with a 5 percent down payment, credit scores of 620 and enough money in the bank to cover two months of payments.  Now, borrowers typically must have six months’ reserves, a 700 credit score, and a down payment of at least 20 percent.

Click here for the full New York Times Story.