Back to my side of the Bay for a bit...
First of all, I want to reiterate past blog posts that San Francisco is still an awesome market! Two of my colleagues had a listing and got over a dozen offers. Not the best location in Visitacion Valley, not the best condition, but they priced it correctly, got multiple offers and over asking! So much for these nay-sayers who pontificate that we are in a slump--NOT SO in SF.
Back to my title.... I made a foray into the local real estate market last year and the jury is still out as to whether this has been a mistake or not? I bought that wonderfully uniquely San Francisco form of ownership called a TIC. Sounds good in theory, but if people change their minds or don't want to honor the agreement; one doesn't have a whole lot of options.
So after an extensive remodel--still in progress--I will be selling my pied-a-terre in Nob Hill. It has two bedrooms and will have two bathrooms, a new kitchen, a heat source, new electrical (up-to-code), etc. etc. Theoretically my "interest" will be ready for condo-conversion (after $100K, it should) and the group is undergoing the necessary steps to do individual financing. It has a view of the Pyramid even! FREE laundry and storage. Sounds perfect, you might think, but not so. Drawbacks are no parking, small (around 850 sq feet) and, that double-edged sword--it is a TIC!
Once the remodeling is complete and I learn how to post pretty pictures, you will see it. In the meantime, you can see what it used to look like here... http://www.rebeccarealtor.com/property.asp?id_property=90482
For more info, call or email me or post a comment here! (415-412-1977 or Rebecca@RebeccaRealtor.com )
P.S. Two of the other interests were recently appraised for over $800K. I might break even at $650,000. Coming soon--and you'll hear about it here second (after my Keller Williams Realty office).