It’s Politics as Usual at City Hall

San Francisco has a lottery system that selects 200 units annually for conversion into condominiums. With 1,799 units having lost the lottery this year and a multimillion-dollar deficit to close, Mayor Gavin Newsom proposed legislation that would allow these units to bypass the lottery system by paying a $20,000 fee per unit. The cost would’ve been reduced depending on the number of years one had participated in the lottery. But, the proposal was slammed by Budget and Finance Committee Chairman

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Good News Regarding TIC Lottery Bypass…

It’s been about a year and a half that I first starting hearing about momentum building to allow TIC units to pay to bypass the rather byzantine condo lottery system.  I thought it was exciting news, but unlikely to gain traction in our city.  Still, many TIC owners I spoke with were very positive about the possibility.  Now that the city is in financial distress and looking for new income streams, the idea is back and included in the proposed

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Prices over the Years: 2 Bedroom Tenancies-in-Common

2 Bedroom Tenancies-in-Common Click on graph The periods in which both the lowest and highest number of sales occurred in each area are noted. When the number of sales is very low, statistical analysis is generally not meaningful. The Median Sales Price is that price at which half the properties sold for more and half for less. It may be affected by “unusual” events in any particular period or by changes in buying trends, such as a market shift to

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Individual Tax Bills for Tenancies in Common One Step Closer

As we first reported back in September of last year (courtesy of the ‘head’s up’ from Gordon over at Plan C), it looks as though Phil Ting from the San Francisco Real Estate Assessor office is looking to make good on his offer to help clarify the oft confusing, record keeping nightmare facing many Tenancy in Common owners come tax time. As it stands, there is one stunning tax bill sent out to all Tenancies in Common, regardless of how

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