New Increased Conforming Loan Rates no help as of yet

So the new conforming loan rates have been signed into law, and many of us have been waiting to see how those new guidelines will actualize themselves in the coming weeks. Unfortunately it’s not shaping up to be much of a boost to the jumbo loan affordability, at least for the moment. As reported by Matt Carter from Inman News – The Securities Industry and Financial Markets Association announced that the new conforming loan increase of $729,750 will not be

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2008-09 San Francisco Allowable Rent increase and Security Deposit Interest is Posted

The San Francisco Rent Board has published the 2008-09 allowable rent increase for units that qualify under rent control (commercial units, and any residential units built after June 13, 1979 are exempt from San Francisco rent control) and it’s up slightly .05% from last year, to 2%. Which means a monthly rent of $2800 can be increased starting in March, on the anniversary of the lease date to $2856.00. In addition the yearly interest owed on security deposits (which applies

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Snapshot of the Market for two weeks

73 Properties Changed hands in the San Francisco Real Estate Market during the two week period of January 23rd – February 5th 2008 SFH Single Family Homes 17 sold Over Asking ↑ 13 Sold Under Asking ↓ 7 Sold At Asking ↔ Condos 9 Sold ↑ 12 Sold ↓ 10 Sold ↔ 2-4 Unit buildings 1 Sold ↑ 3 Sold ↓ 1 Sold ↔ Which means that even though we are down on the volume of sales year over year

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'Final' Economic Stimulus Package Includes $729,500 Conforming Loan Limits

From an email I received this evening from the California Association of Realtors… Congress agreed to an economic stimulus package today and sent the bill to President Bush for approval. The Senate’s version of the bill expands rebate checks for seniors and disabled veterans and includes the same increases in conforming loan limits found in the House stimulus package. The House also passed the Senate’s version of the bill, and it will now be sent to the White House. The

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Plan C's TIC protest makes the News

Plan C made headlines in the Chronicle today, with 60 demonstrators making it to the protest at city hall yesterday to bring attention to the antiquated lottery system for TIC condo conversions.  Not a bad turn out for the middle of a work day in the middle of a work week. This year, 1,994 tenancies-in-common entered the lottery in an attempt to join the ranks of the condominium converted – a 51% increase from 6 years ago. This is indicative

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