Transfer Tax Changes – Proposition N in San Francisco

parcbayrealestate — Thu, 09 Dec 2010 19:53:53 +0000

Dec 16, 2010: Updates from San Francisco Realtors Association in regards Proposition N:

Further questions have arisen regarding the applicability of the new Proposition N transfer tax rates for properties selling for $5 million and more. In the original article published as part of REALTOR® Advantage Online on December 14 and the corrected article published on December 15, we indicated that the new rates will become effective on Friday, December 17, 2010. We also indicated that, according to the city, the new rates would only apply to transactions entered into after December 16. However, the person with whom we spoke was misinformed. The official position of the Office of the Assessor-Recorder is as follows:

The trigger for the application of the new rates is the transfer (“vesting”) date.

Thus, for parties in real property purchase and sale contracts that close escrow on and after December 17, 2010, the new rates apply.

For contracts entered and closed before the 17th, the old rates apply.

Old Posting below:

Due to the passing of Proposition N, effective December 17, 2010, for transactions of $5,000,000 or more, but less than $10,000,000, the transfer tax rate for the City and County of San Francisco will increase from 1.5 percent to 2 percent. For transaction of $10,000,000 or more, the transfer tax will be 2.5 percent.

(For transactions of less than $5,000,000 the transfer tax remains unchanged.)

Recent Real Estate Facts May 2010

parcbayrealestate — Thu, 06 May 2010 04:39:00 +0000

Fast Facts
Calif. median home price: March 2010: $301,790 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region March 2010: Santa Barbara So. Coast $890,000(Source: C.A.R.)
Calif. lowest median home price by C.A.R. region March 2010: High Desert $122,970 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - Fourth Quarter 2009: 64 percent (Source: C.A.R.)
Mortgage rates – week ending 4/29/10 30-yr. fixed: 5.06 Fees/points: 0.7% 15-yr. fixed: 4.39% Fees/points: 0.7% 1-yr. adjustable: 4.25% Fees/points: 0.5% (Source: Freddie Mac)

Brand New Luxurious Rentals at The Infinity

parcbayrealestate — Tue, 20 Apr 2010 00:42:46 +0000

Unit #34E is now available for showing. With breathtaking views of the water and twin peaks. Approximately 1339 sq ft of spacious living space, two marble bathrooms, top-of-the-line stainless steel appliances, granite countertop, and large bay window. One of the most desirable plan at the Infinity. $4850/month, parking is extra

Visit www.luxurySFliving.com for details. or email Agent Kathy@parcbay.com to set up private tour.

New Rental Listing at THE INFINITY FURNISHED 301 Main Street

parcbayrealestate — Fri, 19 Mar 2010 22:10:30 +0000

Exceptional living at the most desirable block of SOUTH BEACH – the Infinity Building. This unit offers panromaic waterviews and comes with FURNISHED. Hardwoord floor in living and dininig, upgraded carpet in master bedroom. Large walk in closet with closet system. $3,350 per month (parking is $150 per month)

Address: 301 Main Street, San Francisco, CA 94105

For more information: visit http://rentals.parcbay.com or email kathy@parcbay.com | Real Estate Broker

Truly One of A Kind Luxury Living in Excellent Location

parcbayrealestate — Sun, 14 Mar 2010 21:01:21 +0000

Highly desirable THE INFINITY building is located in the heart of SOUTH BEACH. This is the perfect home for clients requiring a two-story home. 3 bedrooms, 2 1/2 baths with a large family room, extra large master suite and beautiful marble bathroom. Enjoy gorgeous views of the bay, and city. Offers two extra large outdoor deck.

$7500 per month

Address: 338 Spear Street #37D, San Francisco, CA 94105

Listing Agent: Kathy Chan (kathy@parcbay.com) dre#01522318

Furnished Luxury Condo Available at Infinity Exclusive by PARC BAY

parcbayrealestate — Sun, 14 Mar 2010 20:45:26 +0000

Furnished Condo at The Infinity – easy to view:

301 Spear Street, #25 – The Infinity

Approx 780 sq ft

$3500 per month (with 1 parking)

Panoramic waterviews, full service amenities, visit our web site at www.luxurysfliving.com for info or email kathy@parcbay.com to schedule tour

Hip and Stylish LOFT at the Mint Plaza 410 Jessie Street

parcbayrealestate — Wed, 24 Feb 2010 20:05:31 +0000

Hip & Stylish – The Mint Collection was built in 2007 with gym, roof top city views, modern style high ceiling loft. SPECIAL price for this week @ $2300 per month for qualified tenant. Ready for March 1 st move in. Min 3 months, prefer 1 year lease.

Address: 410 Jessie Street (between fifth and market) If interested, email rentals@parcbay.com

New Rental Listing! Stylish LOFT 1 BR plus Den at Mint Collection

parcbayrealestate — Sat, 13 Feb 2010 18:41:10 +0000

‘Location, Location, Location.’ The Mint Collection is nestled in the heart of the famed Union Square district, directly across from the historic U.S. Mint building and adjacent to the new Westfield San Francisco Centre (West Coast flagship of Bloomingdale’s, the second largest Nordstrom in the country, and features a mix of 170 exclusive boutiques and specialty stores), Yerba Buena Gardens, and an abundance of restaurants and cafés, gourmet grocery stores, hotels, acclaimed shops, galleries, art museums, and entertainment venues, including SF MOMA and Sony Metreon. The Powell Street Bart, MUNI and Cable Car stations are just a two-minute walk from your doorstep, ensuring the city’s lively surrounding neighborhoods are never more than a stone’s throw away.

For more info, visit http://www.luxurysfliving.com/410_202.htm

Address: 410 Jessie Street, San Francisco, CA

Broker: kathy@parcbay.com | Parc Bay Real Estate

JUST LISTED Luxury 2 bedrooms 2 baths BRAND NEW at the INFINITY Tower 2

parcbayrealestate — Fri, 05 Feb 2010 20:50:40 +0000

Coming Soon Next Week! 2 bedrooms 2 baths #34E with 1340 sq ft, excellent Ball Park views. BRAND NEW

$6000 a month with 1 parking.

Address: 338 Spear Street, San Francisco, CA 94105 “South Beach” area

98 walkscores! Email kathy@parcbay.com to join the first tour! 415-370-3776

Stunning Penthouse for Rent at THE INFINITY

parcbayrealestate — Fri, 22 Jan 2010 01:29:36 +0000

LOCATION: 338 Spear St, San Francisco, CA 94105 (SOMA/South Beach)
Rare opportunity! This ultimate PENTHOUSE (42th floor) 2 bedroom, 2 bath fashions a sense of timeless beauty and modern sophistication. Open kitchen with high-end appliances. Expansive corner windows with breathtaking city and waterviews. 11′ high ceilings (typical units are 9″ only), Luxurious Baths; XL deck with approximately 238′. 12″ beautiful hardwood Walnut flooring imported from Canada. \Live the Infinity lifestyle. Incredible location. A Must See! **FURNISHED OPTION available for extra fee**

Email kathy@parcbay.com to schedule private showing. Or 415-370-3776

New Website! Parc Bay Launches LuxurySFliving.com

parcbayrealestate — Sat, 09 Jan 2010 09:02:00 +0000

In response to the overwhelming number of Parc Bay clients seeking first class accommodations and service in the Bay Area, we have launched LuxurySFLiving.com, a suite of Rental, Sales, and Property Management Services dedicated to the best of life in San Francisco.

We are also currently working on the revamping of Parc Bay Real Estate’s corporate website—bringing a newly refined style along with enhanced search and MLS listing functionalities.

Stay tuned!

Luxury 2 bedrooms at THE PALMS – Great Price!

parcbayrealestate — Tue, 05 Jan 2010 23:37:31 +0000

#721 is available for immediately move-in. Address: 555 4th Street. $3100 per month with 1 parking

This home has many decorator finishes, upgraded closet system, hardwood flooring, stainless steel appliances and cozy patio.

To schedule viewing, email kathy@parcbay.com

Happy Holidays

parcbayrealestate — Wed, 23 Dec 2009 09:07:18 +0000

Warmest thoughts and best wishes
for a wonderful Holiday and a Very
Happy New Year

PARC BAY REAL ESTATE

Breathtaking views for RENT at THE INFINITY

parcbayrealestate — Fri, 18 Dec 2009 19:04:47 +0000

NEW LISTING! Luxury brand new 1 Bedroom at 338 Spear Street #20C (aka THE INFINITY Tower II) with approx 850 sq ft. Panoramic Waterviews. $3150 per month with 1 parking. Call 415-370-3776 or kathy@parcbay.com | PARC BAY REAL ESTATE to schedule a private appointment.

Amenities:

- 5000 sq ft gym, Doorman, Concierge, Swimming Pool, Theater, Club Lounge and Business Center

Exclusive One of a Kind LOFT STYLE Luxury Living at THE INFINITY

parcbayrealestate — Fri, 11 Dec 2009 05:51:27 +0000

Stunning Penthouse Style Living at THE INFINITY Tower II.

3 bedrooms & 3 baths. LOFT STYLE 2 levels. Fully Upgraded.

Two private XL deck with amazing city and waterviews. Over 1600 sq of living space, #37 floor

$10,000 per month with 2 tandem parkings

Contact Broker Kathy@parcbay.com to schedule private showing | PARC BAY REAL ESTATE

Modern 2 bedrooms at THE PALMS available now

parcbayrealestate — Wed, 09 Dec 2009 19:41:45 +0000

Modern & Upgraded 2 bedrooms 2 baths with approx 1150 sq ft, located at one of the most desirable area in San Francisco – SOMA/South Beach Area with tons of great shops and resturants nearby.

Building offers exceptional amenities:

Gym
Residence Theater
Doorman
Club House (with pool table and poker table)
Business Center
1 Parking is included.

Unit has washer/dryer, hardwood floor. Stainless steel appliances! If interested, email kathy@parcbay.com | 415-370-3776

Address: 555 4th Street, San Francisco, CA

Luxurious Living at THE INFINITY with Waterviews

parcbayrealestate — Sat, 07 Nov 2009 20:54:22 +0000

Showing this Saturday and Sunday. Contact kathy@parcbay.com or 415-370-3776 for private tour. Address: 338 Spear Street #27, San Francisco, CA

Ready for immediate move-in. Approx 1323 sq ft | 2 bedrooms 2 baths plus den. Stunning Waterviews Corner Unit. Exceptional amenities offers by THE INFINITY.

Posted by: PARC BAY RENTALS | Luxury Leasing Agent in South Beach | SOMA | Mission Bay

New Rental Listing Stunning Panoramic Waterviews Pure Luxury

parcbayrealestate — Mon, 02 Nov 2009 23:48:49 +0000

New Rental Annoucement:Luxury 2 bedrooms 2 baths plus den approx 1318 sq ft

BRAND NEW at 338 Spear Street, San Francisco (aka Infinity Tower II). Ready for move-in. $5800 per month with 1 parking. High floor with private deck.

Sorry no pets.

To schedule showing, please email Agent kathy@parcbay.com 415-370-3776 Private appt only.

Prestigious and Spacious Palo Alto Home

parcbayrealestate — Thu, 24 Sep 2009 06:02:17 +0000

Fully Remodeled Prestigious Palo Alto Single Family Home

887 Warren Way, Palo Alto, CA
Spacious living with approximate 2700. Flat large lot approximate 7000 sq ft.

5 bedrooms plus 3 baths. 2 levels. Large detached two car side by side garage.

$5000 a month

If you are interested, please email kathy@parcbay.com (or call/text 415-370-3776) to schedule showing.

The kitchen is equipped with granite countertops, Thermador refrigerator and stainless appliances.

What’s nearby :

* 0.5 Miles to Safeway
* 0.6 Miles to Palo Alto City Library
* Top rated Palo Alto Unified School District (Palo Alto High)
* Close to Seale & Greer Park
* Close to stanford shopping center
* Easy Access to 101 & Orgeon Express Way

New Rental Listing at THE INFINITY Executive Furnished

parcbayrealestate — Fri, 11 Sep 2009 22:30:11 +0000

Modern & Sleek Exclusive Rental Available at 338 Spear Street San Francisco. The Infinity building offers exceptional amenities such as indoor swimming pool, residence theater, security, spa rooms and 5000 sq ft gym. To see virtual tour, please visit www.parcbay.com
To schedule private tour or to join this weekend showings, please email kathy@parcbay.com 415-370-3776. We look forwarding to seeing you!

Perfect for 6 months rentals in the heart of South Beach! One parking is included.

PARC BAY is featured in the top US wedding website as a homebuyer resource

parcbayrealestate — Thu, 10 Sep 2009 18:26:31 +0000

Parc Bay Real Estate is now featured as TheNest.com’s local real estate resource! TheNest.com, a subsidiary of TheKnot.com, is the top visited wedding website in the United States full of resources forthe hip and married couple. To contact Kathy, you can email kathy@parcbay.com.

Parc Bay has helped many newlyweds start their lives together and find that special place they can call home. Whether it’s finding the perfect place to rent or purchase, or even selling a pre-wedding home, we will help you prioritize and eliminate frustration when it comes to leasing and purchasing real estate in the San Francisco Bay Area.

Buying a home is a big commitment and can be as emotional as planning a wedding. Our agents will guide you through the process and help you find your perfect home with our signature hassle-free customer service. Newlyweds may also be eligible for closing cost credits toward the home inspection, appraisal fee, or buy down points. For a FREE Consultation, email thenest@parcbay.com.

New Rental Listing – Dramatic City Views at THE INFINITY

parcbayrealestate — Sat, 29 Aug 2009 22:18:49 +0000

New Exclusive Rental! Address: 301 Main Street, 20H, San Francisco, CA $3999 per month (includes 1 parking)

Stunning city views with private patio located in the heart of San Francisco – South Beach area. This luxury building (“THE INFINITY”) offers exceptional amenities such as “Swimming Pool, 5000 sq ft gym, business center, private residence theater and much more.

This unit is approx. 1193 sq ft with 2 bedrooms and 2 full baths. Both rooms has city views. Carpeted bedroom, beautiful wood flooring, granite countertop and stainless steel (high end) appliances.

To set private appointment, email kathy@parcbay.com Luxury Rentals Specialist in SOMA/SOUTH BEACH/MISSION BAY | http://rentals.parcbay.com

We look forward to seeing you.

Absolutely Stunning Infinity Penthouse Rental Coming Soon

parcbayrealestate — Sun, 02 Aug 2009 21:14:24 +0000

Exclusive rental annoucement: A View to Die For!

This rarely available high ceiling Penthouse unit (37th floor) is located in one of San Francisco’s hottest building THE INFINITY. This unit has apprx 1300 sq ft with 2 BR 2 BA. Private wrapped around stunning deck with amazing water and city views. Private appt only. Address: 301 Main Street.

To schedule private appt or to inquire more details, please email kathy@parcbay.com - Luxury Leasing Broker | Kathy Chan Parc Bay Real Estate

First Time Homebuyer Federal Tax Credit of up to $8000

parcbayrealestate — Thu, 30 Jul 2009 23:13:34 +0000

A tax credit of up to $8,000 is available for qualified first-time home buyers purchasing a principal residence on or after Jan 1, 2009 and before Dec 1, 2009.For more details, visit www.federalhousingtaxcredit.com

To sign up for our private first time homebuyers’ consultation, please email kathy@parcbay.com or call 415-370-3776. You will learn about how to qualify for a loan, how much can you afford, and the common terminology that are being used in Real Estate.

To review Kathy’s credential, plesae visit http://www.parcbay.com/ouragents.php

New Rental Listing LARGE 1 bedroom at THE INFINITY

parcbayrealestate — Sat, 25 Jul 2009 07:56:16 +0000

Beautiful courtyard facing with direct sunlight located at luxury building – THE INFINITY. Unit is brand new with top of the line appliances. In unit washer and dryer. Marble bathroom. Extra DEN area for office or library. Approx. 811 sq ft. Very spacious with LARGE walk in closet.

SPECIAL $2450 per month with 1 parking if lease starts by August 1st. otherwise $2550.

Address: 318 Spear Street, San Franciso, CA 94105

To schedule private tour, please txt 415-370-3776 or email kathy@parcbay.com

Cozy 1 BR in Modern Building Fully Furnished at PARC TELEGRAPH

parcbayrealestate — Thu, 23 Jul 2009 22:23:53 +0000

This tastefully FURNISHED remodeled condo is located at the Parc Telegraph building – luxurious North Waterfront area which is within walking distance to Fisherman’s’ Wharf, Coit Tower, The Embarcadero, Ferry building, Financial district and many fine restaurants.

Address: 240 Lombard Street, San Francisco, CA 94111

$2200 per month with 1 parking (Approx 600 sq ft). Washer/dryer on site (FREE)

To schedule private appt or if any questions, please email kathy@parcbay.com or 415-370-3776

HUD: Tax Credit Can Be Used on Closing Costs

parcbayrealestate — Tue, 21 Jul 2009 16:56:51 +0000

FHA-approved lenders received the go-ahead to develop bridge-loan products that enable first-time buyers to use the benefits of the federal tax credit upfront, according to eagerly awaited guidance from the U.S. Department of Housing and Urban Development on so-called home buyer tax credit loans that was released today.

Under the guidance, FHA-approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.

The loans can’t be used to cover the minimum 3.5 percent, senior HUD officials told reporters on a conference call Friday morning.

Thus, buyers applying for FHA-backed financing with an FHA-approved lender that offers a bridge-loan program can get a bridge loan to bring down the upfront costs of buying a home significantly but would still have to come up with the minimum 3.5 percent downpayment.

There remain many sources of assistance for buyers needing help with the 3.5 percent downpayment, including many state and local government instrumentalities and nonprofit lenders.

In addition, some state housing finance agencies have developed their own tax credit bridge loan programs, so buyers in states whose HFAs offer such programs can monetize the tax credit upfront to cover all or part of their downpayment. These programs are separate from what HUD announced today.

The first-time homebuyer tax credit was enacted last year–and improved upon earlier this year–to help encourage households to enter the housing market while interest rates are low and affordability is high. The credit is worth up to $8,000 and is available to households that haven’t owned a home in at least three years. The credit does not have to be repaid, and is fully reimbursable, so households can get their credit returned to them in the form of a payment.

Learn more about the credit, including how to apply for it this year even if you’ve already filed your taxes, at REALTOR.org.

Source: Robert Freedman, REALTOR® Magazine Online

posted by: Kathy Chan | Real Estate Broker

New Rental Listing at THE BEACON Excellent location

parcbayrealestate — Tue, 21 Jul 2009 07:25:40 +0000

We are proud to present you to a wonderful 1 BR at THE BEACON. This homes offer approximately 750 sq ft of living space, a large walk in closet and a very large bath. This exceptional building is located on a commuter friendly “King Street – SOMA/Mission Bay areas”. Within walking distance to CalTrain Station, Safeway, Mizu Spa, Starbucks, Borders and much more. To schedule showing, please email kathy@parcbay.com or txt 415-370-3776 if any Qs.

The Beacon amenities are: Swimming Pool, Conceige, Jacuzzi and Security

Address: 250 King Street, 7th floor, facing Ball-Park. $2400 per month with 1 parking.

Rental Inventory Updates as of 7/09

parcbayrealestate — Thu, 09 Jul 2009 20:17:37 +0000

Exclusive San Francisco Rental Inventory Updates:

1 BR 1 BA ~750 sq ft, 250 King Street, THE BEACON for $2500 with 1 parking (PRICE REDUCED!)

2 BR 2 BA ~1310 sq ft, 425 1st Street, ONE RINCON HILL for $3500 with 1 parking (addl pkg for $150 only)

1 BR 1.5 BA ~1200 sq ft, 77 Dow Place (cross street 2nd), THE HAWTHORNE PLACE, $2700 with 1 parking (GRAND TOUR on SUNDAY 7/12)

1 BR, 1.5 BA ~ 1600 sq ft (VERY SPACIOUS), 18 Lansing (cross street 1st), Bi-Level High Ceiling LOFT, $3000 with 1 parking (READY for Immediately move-in)

What’s coming up: 1 BR at ONE RINCON HILL, 1 BR at THE METROPOLITAN

If interested in any of the units, please email kathy@parcbay.com

New Rental Listing at THE BEACON San Francisco

parcbayrealestate — Thu, 09 Jul 2009 06:33:18 +0000

Modern 1 bedroom and 1 bath located at 250 King Street (THE BEACON). Beautiful kitchen with liked new appliances. Unit is quiet and chic. Located on the 7th floor, facing AT&T Ball Park.

$2500 per month with 1 parking (approx 750 sq ft)

Building amenities:

Concierge
Outdoor Large Pool
Gym & Residence Lounge
Dry Cleaning pick up/drop off

Surroundings

Caltrain station
MUNI (N & T Line)
Safeway & Starbucks (5 minutes)
Easy Access to Freeway (280/101 on ramp – 5 minutes)

To schedule private appt, please email kathy@Parcbay.com