This remarkable condo features exceptional finishes, wide plank floors and quality upgraded fixtures making it a lovely oasis in North Waterfront. Designed with entertaining in mind, this condo has plenty of space to move around in, also ideal for working from home. The condo also features a private terrace with views of Coit Tower and Telegraph Hill. This prestigious 5-star amenity building has Resort-style Amenities, including 24-hour concierge services, heated outdoor pool and hot tub, and a fabulous club room and library. Close to Telegraph Hill, the Ferry Building, Waterfront, Parks, North Beach, FiDi, and Transportation.
Looking for a new Condo Space to call yours? Look no further because 2875 21st Street could be the home for you! With an open floor plan, expansive kitchen, and large private patio space, this condo is not to be missed.
This urban chic live/work loft is not to be missed. The soaring 16’ ceilings create voluminous spaces for a gracious living room, dining room, home office, Peloton, and many other flexible uses. The open floor plan flows from a generous kitchen with exposed wood beams and slate tile flooring to the great room warmed by refinished wood flooring and full height windows that showcase the amazing sunlight the Mission District has to offer and the enormous private patio that is perfect for outdoor dining and lounging. The year-round climate creates the opportunity to substantially extend your living space with indoor-outdoor living. Located amidst all that the Mission has to offer, this home is just blocks from Flour + Water, Gus’ Market, Farmhouse Kitchen, Sightglass Coffee, Mission Cliffs Climbing Gym, ODC Theater and much more. Easy access to Mission Street BART or several Muni lines, including a short ride on the 48 to CalTrain.
1. How Can I Better Understand the Process, and How Much Can I Afford?
The process of buying a home is not one to enter into lightly. You need to decide on key things like how long you plan on living in an area, school districts you prefer, what kind of commute works for you, and how much you can afford to spend.
Keep in mind, before you start the process to purchase a home, you’ll also need to apply for a mortgage. Lenders will evaluate several factors connected to your financial track record, one of which is your credit history. They’ll want to see how well you’ve been able to minimize past debts, so make sure you’ve been paying your student loans, credit cards, and car loans on time. If your financial situation has changed recently, be sure to discuss that with your lender as well. Most agents have loan officers they trust and will provide referrals for you.
2. How Much Do I Need for a Down Payment?
In addition to knowing how much you can afford on a monthly mortgage payment, understanding how much you’ll need for a down payment is another critical step. Thankfully, there are many different options and resources in the market to potentially reduce the amount you may think you need to put down.
If you’re concerned about saving for a down payment, start small and be consistent. A little bit each month goes a long way. Jumpstart your savings by automatically adding a portion of your monthly paycheck into a separate savings account or house fund. AmericaSaves.orgsays:
3. Saving Takes Time: Practice Living on a Budget
As tempting as it is to pass the extra time you may be spending at home these days with a little retail therapy, putting that extra money toward your down payment will help accelerate your path to homeownership. It’s the little things that count, so start trying to live on a slightly tighter budget if you aren’t doing so already. A budget will allow you to save more for your down payment and help you pay down other debts to improve your credit score.
A survey of millennial spending shows, “68% reported that shelter in place orders helped them save for their down payment.” Danielle Hale, Chief Economist at realtor.com, also notes:
“If there is any silver lining to the current economic landscape, it’s that mortgage rates are hanging around record lows…Additionally, shelter-in-place orders helped many who were fortunate enough to keep their jobs save for a down payment — one of the largest hurdles of buying a home. The combination of low rates and the opportunity to save is enabling many millennials to move up their home buying timeline.”
While you don’t need to cut all of the extras out of your current lifestyle, making smarter choices and limiting your spending in areas where you can slim down will make a big difference.
If homeownership is on your dream list this year, take a good look at what you can prioritize to help you get there. To determine the steps you should take to start the process, let’s connect today.
According to the latest CoreLogic, Home Price Insights Report, nationwide home values increased by 8.2% over the past twelve months. The dramatic rise was brought about as the inventory of homes for sale reached historic lows at the same time buyer demand was buoyed by record low mortgage rates. As CoreLogic explained:
“Home price growth remained consistently elevated throughout 2020. Home sales for the year are expected to register about 2019 levels. Meanwhile, the availability of for-sale homes has dwindled as demand increased and coronavirus outbreaks continued across the country, which delayed some sellers from putting their house on the market.
While the pandemic left many in positions of financial insecurity, those who maintained employment and income stability are also incentivized to buy given the record low mortgage rates available; this is increasing buyer demand whole for-sale inventory is in short supply. “
Where will home values go in 2021?
Home price appreciation in 2021 will continue to be determined by this imbalance of supply and demand. If supply remains low and demand is high, prices will continue to increase.
According to the National Association of Realtors, the current number of single- family homes for sale is 1,080,000. At the same time last year, that number stood at 1.450,000. We are entering 2021 with approximately 370,000 fewer homes for sale than there were one year ago.
However, there is some speculation that they inventory crush will ease somewhat as we move through the new year for two reasons:
As the health crisis eases, more homeowners will be comfortable putting their houses on the market.
Some households impacted financially by the pandemic will be forced to sell.
Low Mortgage rates have driven buyer demand over the past twelve months. According to Freddie Mac, rates stood at 3.72% at the beginning of 2020. Today, we are starting 2021 with rates one full percent lower than that. Low rates create a great opportunity for homebuyers, which is one reason why demand is expecting to remain high throughout the new year.
Taking into consideration these projections on housing supply and demand, real estate analytics forecast homes will continue to appreciate in 2021, but that appreciation may be at a steadier pace than last year. Here are the forecasts:
There’s still a very limited number of homes for sale for the great number of purchasers looking to buy them. As a result, the concept of supply and demand mandates that home values in the country will continue to appreciate.
Do you feel ready to embark down the path to homeownership? Read over these steps to familiarize yourself with the process!
The journey to becoming a homeowner today can seen overwhelming but these listed steps are here to simplify the process for you. The first step down the path begins with saving money for a down payment. The second step is to understand your credit score and clear up any outstanding debts. The next step would be to find a real estate agent who can guide you through the process. After, make sure to get pre-approved for a loan, to suggest that you are a motivated buyer. The fifth step would be to work with your real estate agent to find a home that meets your needs, which leads you to making an offer. Once the offer is accepted, make sure to have a home inspection to find any hidden issues with the home. After the inspection make sure to get a home appraisal to ensure the property is worth the price you would be paying. Once these steps are completed with your trusted agent by your side, close the sale by scheduling a date to sign all of the final paperwork! The last step being to move into your brand new home!
Today it’s more important than ever to have an expert you trust to guide you as you sell your house. For sale by owner is the process of selling real estate without having a broker or real estate agent representing you. Here are a few reasons why this could be considered a mistake. You are more likely to net more money working with an agent. Selling on your own can be difficult from a legal standpoint. Negotiating the deal is complex, and now more than ever, your safety is a priority. Selling your house on your own leaves you to manage the entire transaction by yourself. Before you decide to take on this challenge, let’s connect to make sure you are safe and successful every step of the way.
This 2-BR loft like condo offers three levels of luxury living in the heart of the North Slope of Potrero. Located in an award winning complex the home has a great separation of spaces, which is ideal for working from home or sheltering in place. Graced by beautiful maple hardwood floors throughout, the entrance to the unit on the main level leads to a large living space with soaring 13-foot ceilings & a wall of windows allowing for plenty of natural light and views of the neighborhood. Down the stairs to the lower level an efficient gourmet kitchen has quartz counters, high-end stainless steel appliances, ample cabinets, and a washer/dryer. Tucked away behind the kitchen there is a private bedroom and full bath, great as a guest room or home office, and a fabulous outdoor deck. Up the stairs on the top floor there is a spacious main bedroom with ensuite bath and walk-in closet. The floors and some of the lighting have been redone and the unit has been painted throughout. A great 1-car parking space completes the home. Building amenities include a beautiful garden area, perfect for barbecues and entertaining (Post Covid). The building is in an excellent location, with many neighborhood restaurants, cafes, and local businesses only one block away. Enjoy the advantage of being close to UCSF Mission Bay, Dogpatch, SOMA, Caltran and tech shuttles, with easy access to freeways 280 & 101.
There are many benefits to working with a real estate professional when selling your house. During challenging times, like what we face today, it becomes even more important to have an expert you trust to help guide you through the process. If you’re considering selling on your own, known in the industry as a For Sale by Owner (FSBO), it’s critical to consider the following:
1. Your Safety Is a Priority
Your family’s safety should always come first, and that’s more crucial than ever given the current health situation in our country. When you FSBO, it is incredibly difficult to control entry into your home. A real estate professional will have the proper protocols in place to protect not only your belongings but your family’s health and well-being too. From regulating the number of people in your home at one time to ensuring proper sanitization during and after a showing, and even facilitating virtual tours for buyers, real estate professionals are equipped to follow the latest industry standards recommended by the National Association of Realtors (NAR) to help protect you and your family.
2. A Powerful Online Strategy Is a Must to Attract a Buyer
Recent studies from NAR have shown that, even before COVID-19, the first step 44% of all buyers took when looking for a home was to search online. Throughout the process, that number jumps to 93%. Today, those numbers have grown exponentially. Most real estate agents have developed a strong Internet and social media strategy to promote the sale of your house. Have you?
3. There Are Too Many Negotiations
Here are just a few of the people you’ll need to negotiate with if you decide to FSBO:
The buyer, who wants the best deal possible
The buyer’s agent, who solely represents the best interest of the buyer
The inspection companies, which work for the buyer and will almost always find challenges with the house
The appraiser, if there is a question of value
As part of their training, agents are taught how to negotiate every aspect of the real estate transaction and how to mediate the emotions felt by buyers looking to make what is probably the largest purchase of their lives.
4. You Won’t Know if Your Purchaser Is Qualified for a Mortgage
Having a buyer who wants to purchase your house is the first step. Making sure they can afford to buy it is just as important. As a FSBO, it’s almost impossible to be involved in the mortgage process of your buyer. A real estate professional is trained to ask the appropriate questions and, in most cases, will be intimately aware of the progress being made toward a purchaser’s mortgage commitment.
Further complicating the situation is how the current mortgage market is rapidly evolving because of the number of families out of work and in mortgage forbearance. A loan program that was available yesterday could be gone tomorrow. You need someone who is working with lenders every day to guarantee your buyer makes it to the closing table.
5. FSBOing Has Become More Difficult from a Legal Standpoint
The documentation involved in the selling process has increased dramatically as more and more disclosures and regulations have become mandatory. In an increasingly litigious society, the agent acts as a third-party to help the seller avoid legal jeopardy. This is one of the major reasons why the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.
6. You Net More Money When Using an Agent
Many homeowners believe they’ll save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save on the commission.
A study by Collateral Analytics revealed that FSBOs don’t actually save anything by forgoing the help of an agent. In some cases, the seller may even net less money from the sale. The study found the difference in price between a FSBO and an agent-listed home was an average of 6%. One of the main reasons for the price difference is effective exposure:
“Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.”
The more buyers that view a home, the greater the chance a bidding war will take place.
Listing on your own leaves you to manage the entire transaction by yourself. Why do that when you can hire an agent and still net the same amount of money? Before you decide to take on the challenge of selling your house alone, let’s connect to discuss your options.
Lots of people have questions about buying a home, and other topics related to the process. Working with a trusted real estate professional will help you create the most personalized and helpful experience when buying a new home. Let’s connect so you have the guidance you need along the way.