Blog of Greg Bryan for GB and Associates Covering San Francisco Real Estate

Real Estate Investing

10/23/2012

It is currently a great time to invest in real estate in San Francisco if you can qualify for a loan or have cash.
Interest rates are historically at near their all time lowest rates.

Rental prices are going up in SF as more businesses are locating themselves in the area and as there is continuing job growth
Market prices in San Francisco are going up and there is an opportunity to capture property appreciation as the housing market continues to improve
Inflation, if you believe it is going to increase in the future and have a fixed rate mortgage, you will have an opportunity to use increasing rents to pay down your fixed mortgage payments
Reduced taxable income by depreciation of your investment property structure over 27.5 years, but be sure to check with your tax or accounting professional
Diversification, real estate investing serves as a means of diversifying ones portfolio from more than just stocks

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Loans Available for Purchasers of Many Properties South of Market (SOMA)

9/7/2011

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There are great loans for purchasers looking at buying properties South of Market (SOMA) that only a few realtors and mortgage brokers are aware. Features of these loans include:

Loan amounts up to $729,750 in San Francisco
5% minimum payments down
No PMI insurance necessary
No FHA approval necessary/streamlined condo review process
Low rates (on 9/7/2011 qualified applicants could obtain rates as low as 4.125%)
The property must be in designated areas which includes much of SOMA
Live Work Spaces also qualify

Borrowers do not have to be US citizens, but foreigners who are eligible must be able to show 3 years of income history and meet other requirements to qualify.

If you are looking to acquire a property South of Market, I would be happy to assist you with taking advantage of this program and representing you as your realtor. Feel free to contact me. If you want market information about SOMA real estate in San Francisco please visit our website GB and Associates.

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FHA Costs Going Up: There is a .25% increase in Mortgage Insurance Premium

4/2/2011

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The FHA is increasing the amounts required for Mortgage Insurance Premium from .9% to 1.15% as of April 18th on 15 yr and 30yr loans. So if you want to purchase a home and not pay the additional increased costs you will want to have your purchase agreement ratified by April 18th 2011.

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Is Your Building Qualified?

3/26/2011

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The real estate market has been tough enough this year with the banks tightening up their credit guidelines for borrowers, owners not wanting to lower prices to market, and buyer wanting unrealistic foreclosure prices, but now things have gotten even tougher for us professionals. We now have to qualify not only our borrowers but the buildings that they are considering. Some of the potential deal killers for first time buyers seeking FHA, Fannie Mae or Freddie Mac approved bank loans are:

Too many units in a building being rented and not owner occupied
Too many units with delinquent HOA fees
Inadequate HOA reserves
Too many vacant units
Pending Litigation
Deferred maintenance or capital improvements needed
Too high a percentage of the building being used for commercial purposes

If you are looking for a condo in SF or any other city it is a good idea to use a real estate professional who is familiar with the various buildings and can ask the pertinent questions before you get too far in the process. This will save you time and money.

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Mortgage Costs Increasing

2/21/2011

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New regulations and government changes are going to increase the costs of loans.

FHA Premiums Are Going to Increase. The Federal Housing Administration (FHA) is raising annual mortgage insurance premiums by an additional .25% on new 15 and 30 yr loans after April 18, 2011. For 30 year loans this means the total premium will now be 1.15% from .9% if the Loan to Value ratio is higher than 95%.

FHA is Lowering The Maximum Loan Amount. The maximum amount that can be insured by Fannie, Freddie or the FHA is scheduled to drop to $625,500 on Oct 1, 2011 from $729,750. This means less people in states with high property values will be able to obtain affordable FHA loans.

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Real Estate Investing

Loans Available for Purchasers of Many Properties South of Market (SOMA)

FHA Costs Going Up: There is a .25% increase in Mortgage Insurance Premium

Is Your Building Qualified?

Mortgage Costs Increasing

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SF Property Values

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