Available Affordable Housing Units
Sep
28
At the request of one of my readers… There is a page on the SFGov.org site under the Mayor’s Office of Housing where they list all currently available units that fit into the ‘affordable’ program. This is where the Beacon units were advertised as well as the meeting referred to in my post earlier today.
Remember, they are affordable to get into, but you must resell them at a zero-profit. This is, of course, better than renting in that you still get a tax deduction for your mortgage payments, but you must sell for what you paid plus any documentable costs (in nearly all cases). Not that all things real estate must result in profit, but that is many people’s motivation for purchasing in San Francisco.
Thanks Matt. I’m not really looking to profit from my purchase. I just want to live in San Francisco again.
brian at September 28th, 2005 at 9:08 pm ( )I know the city sets the resale price, but I think there is the possibility of a small profit, depending on the economic conditions (interest rates) at the time of sale. Just not the kind of astronomical profits people in the regular market are making. At least that was how it was explained to me when I purchased my BMR.
Anonymous at October 10th, 2005 at 9:42 pm ( )