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

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

Modern & Chic one bedroom at The Infinity Tower II. First opening this Friday. Unit is approximately 730 sq ft with open kitchen floor plan, nice wood flooring and peaceful courtyard views. Unit is located on the 6th floor. BRAND NEW. One assigned parking is included. $2500 per month. To schedule viewing, please contact kathy@parcbay.com or text 415-370-3776 if any questions. For more details, visit http://rentals.parcbay.com

(Sorry no pets allowed)

First-time home buyers wanting to take advantage of the state’s $10,000 tax credit may have less time than originally expected.  California set aside $100 million to help home buyers purchase newly built homes, hoping to jump start the residential-construction market.  According to state officials, the tactic has worked well and is helping to entice home buyers into the market.  However, there only is approximately 20 percent of the program’s funding remaining.

The program launched in March, and as of June 3 nearly $24 million in tax credit certificates already had been issued, according to the state’s Franchise Tax Board, leaving nearly $76 million in credit available.  Many applications still are in the pipeline awaiting approval.  If all of the submitted applications are approved, only $17.5 million would remain in the fund.  

The California state legislature is considering adding another $200 million to the program.  However, securing approval may be difficult due to the state’s estimated $24 billion budget deficit.  A bill to extend the program already has won Assembly approval and now is awaiting activity in the state Senate.

To view full story, click here to visit Money CNN.

Waterviews home in every room. Approximately 1301 sq ft. Beautiful hardwood floor and marble bathroom. $3500 per month with 1 parking. Additional parking can be arranged. To view the unit, please email kathy@parcbay.com

About One Rincon Hill Amenities:

• Outdoor pool
• BBQ Area
• Gym
• Conference Room
• Club Lounge

Address: 425 1st Street, San Francisco, CA 94105

Housing Stimulus Law Update
C.A.R.’s Legal Department has released a new legal article, Housing Stimulus Laws for 2009, to help brokers, managers and their agents understand the recent laws enacted by federal and California lawmakers.  This legal article addresses the $787 billion economic stimulus bill, the federal Making Home Affordable Program, and new California housing stimulus laws.

Here are some of the highlights of C.A.R.’s Housing Stimulus Laws for 2009:

• Eligibility requirements for the $8,000 first-time homebuyer tax credit.
• Details of the $275 billion Making Home Affordable Program, which includes refinances up to 105% of current value and government subsidized loan modifications.
• Monetary incentives of $500 for participating loan servicers and $1,500 for borrowers for doing short sales under the Making Home Affordable Program (see Question 57).
• Guidelines for the $10,000 new home tax credit under California law.
• Explanation of the new 90-day extension to the foreclosure process for lenders without comprehensive loan modification programs.

Source: CAR’s legal.

This week, President Barack Obama signed into law the Helping Families Save Their Homes Act of 2009 to help homeowners and lenders avoid foreclosure.  Previously included in this bill was a measure to allow bankruptcy judges to modify mortgage loans for principal residences, but the U.S. Senate did not pass this “cram-down” legislation.

The Helping Families Save Their Homes Act of 2009 contains various new laws to address the national foreclosure crisis.  Major provisions that may affect California REALTORS® and your clients include the following:

• HOPE FOR HOMEOWNERS (H4H) REVAMPED: The new law loosens the H4H program requirements to help homeowners refinance out of their troubled mortgages and into more affordable, fixed-rate FHA-insured loans.  Originally launched in October 2008, the H4H program intended to help 400,000 distressed homeowners, but in the program’s first seven months, it only helped one family stay in its home.  The maximum loan-to-value ratio for an FHA refinance is 96.5% of the appraised value.  If refinance proceeds are insufficient to pay off existing liens, the existing lienholders must voluntarily agree to a short payoff, but a new inducement is an opportunity for them to share in the homeowner’s equity.  Other changes to the H4H program include monetary incentives for both the participating servicers of the existing loans and originators of the FHA refinance.  Millionaire borrowers (with net worth over $1 million) are now excluded from the program.  HUD will establish the requirements and standards to implement the H4H program as revised.
• LONGER STAY FOR TENANTS OF FORECLOSED HOMES: Effective immediately, an REO lender or buyer who acquires title through a foreclosure sale must give at least a 90-day notice to terminate a bona fide tenant as defined.  A 90-day notice to terminate is sufficient for a month-to-month tenant or if a new owner will occupy the property as a primary residence at the end of the 90 days.  Otherwise, a tenant with a one year or other fixed-term lease with a remaining lease term exceeding 90 days can stay in the premises until the remaining lease term ends.  This new 90-day notice requirement applies to foreclosures of a federally-related mortgage loan or residential real property, except for properties under rent control, rent-subsidized programs (such as Section 8), or other state laws that provide additional protections for tenants.  This law expires on December 31, 2012.
• NOTIFICATION OF TRANSFER OF MORTGAGE LOANS: The Truth in Lending Act now requires a lender to whom a mortgage loan is sold or otherwise transferred to notify the borrower in writing of such transfer within 30 days.  The notice must include the new lender’s identity, address, telephone number, authorized representative’s contact information, and other relevant information.  This measure should help alleviate the problem borrowers often face in determining who owns their mortgage loans.

Other provisions of the Helping Families Save Their Homes Act include a 4-year extension of the $250,000 FDIC deposit insurance to December 31, 2013, protection for loan servicers who establish qualified loss mitigation plans from liability for an alleged breach of duty to maximize mortgage values for their investors, $130 million for foreclosure prevention counseling and education, and $2.2 billion to strengthen homeless programs.

President Obama has also signed into law the Fraud Enforcement and Recovery Act (FERA) which authorizes the Department of Justice to prosecute mortgage fraud crimes against private mortgage brokers and companies that previously were not regulated by the federal government.  FERA also earmarks almost $500 million for federal enforcement agencies to investigate and prosecute mortgage fraud and other fraud crimes.

Source:  Realegal® is published by the CALIFORNIA ASSOCIATION OF REALTORS®, a trade association representing more than 175,000 REALTORS® statewide.

Brand New luxury rental located in a new signature building in San Francisco skyline - One Rincon Hill! This spacious unit offers approx. 1301 sq ft with 2 BA 2 BR. Granite and marble finishes, hardwood floor throughout, corner unit, in-unit washer and dryer, water and bay bridge views. To schedule showing, please email kathy@ParcBay.com or 415-370-3776. For more info, please visit: http://rentals.parcbay.com

Parc Bay recognizes and values the benefits of advanced technology, especially when it comes to keeping our clients well-informed.  As a testament to our commitment, we have recently joined Twitter.  We’ll be keeping our followers up to date on new rental listings, private tour schedules, and latest in real estate news!  Follow us at http://twitter.com/parcbay. 

 Looking for a REALTOR who can handle all of your rental and home buying needs? Join Kathy Chan on LinkedIn (http://www.linkedin.com/in/kathywchan) and see what her satisfied clients have had to say about their experiences.  Here’s a taste of her fabulous LinkedIn recommendations:

 “Quite simply, Kathy gets it done! No dramas, no if’s and but’s. It gets done. She’s great to work with, manages every detail, and treats you like you’re her only client. I’d work with Kathy again… in a heart-beat.” May 11, 2009

“Recently worked with Kathy to rent an apartment in the Infinity. Kathy was quick to respond and a great communicator throughout the process. She knows real estate in South of Market, South Beach and Mission Bay very well. She was thorough and really worked to meet the needs of both me as the renter as well as those of the landlord. A little over a day passed from the time I expressed interest in the apartment to when I was signing the lease. Thank you.” May 9, 2009

Stunning 2-bedroom rental unit at ONE RINCON HILL, one of the most desirable floor plan “02″. Approximately 1200 sq ft. Upgraded kitchen. Multiple units available. Ask for details. Address: 425 1st Street, San Francisco, CA 94105

To schedule showing, please email kathy@parcbay.com

To see more rental listings, please visit http://rentals.parcbay.com

6-month min. Prefer 1-year. Sorry no pets.

Parc Bay Real Estate is now featured as TheNest.com’s local real estate resource!  TheNest.com, a subsidiary of TheKnot.com (the number one wedding website), is a site full of resources for the hip and harried married couple.  Check us out here.

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.

 Wow, stunning waterviews. One of the most desirable 2-bedroom floor plan “02″ at the One Rincon Hill (Address: 425 1st Street). Luxury living with exceptional amenities. $4250 (NOTE: FURNISHED option at $5500, picture available upon request. Unit is approximately 1300 sq ft. Hardwood floor throughout, marble bathrooms and high-end chef kitchen appliances and much more!

Email kathy@parcbay.com for private tour. 415-370-3776

New exclusive rental at One Rincon Hill (www.onerinconhill.com)  – a luxury high-rise, signature structure with 695 condominiums and 14 townhomes. Address: 425 1st Street, San Francisco CA

This luxurious rental unit offers approximate 800 sq ft of living space (1-bedroom with a den), amazing waterviews located on the 18th floor. $2700 per month (with one valet parking – 9 months term okay)

To schedule private tour, please email kathy@parcbay.com or visit PARC BAY Rentals for more details.

THE INFINITY 2-bedroom luxury rental

Stunning views and luxurious living at THE INFINITY. This exclusive unit is approximately 1200 sq ft with private patio, upgraded kitchen, light fixture and beautiful hardwood floor. Granite counter-top and high-end stainless steel appliance (Viking). To schedule private appointment, please email luxury leasing specialist KATHY kathy@parcbay.com. Address: 301 Main Street,

$3999 per month (1 year term) – Spacious 2-bedroom

City Views

THE LANSING

“THE LANSING” is a modern, eight-story, 82-unit condominium community with just a short walk to downtown, SOMA, South Beach and Financial District. Easy access to Freeway 80. For more pictures, visit http://rentals.parcbay.com

This spacious unit is located at the Rincon Hill district of San Francisco. It offers flexible split floorplan with Juliette-style balcony. Unit is approx. 1065 sq ft. Designer finishes throughout.

$2850 per month (includes one parking and one storage bin)

To schedule showing, contact Luxury Leasing Agent KATHY (kathy@parcbay.com).

New exclusive rental listing located in one of the most desirable area in SF. Address: 400 Beale, San Francisco. This unit offers stunning waterviews and excellent natural lights. The Bridgeview building amenities include swimming pool, gym, BBQ area, roof top deck and 24×7 security.

Rental $2600 per month (includes a parking)

To schedule showing, please email kathy@parcbay.com

Sorry no pets. FREE MONTH for the rest of APRIL! Great deal.

Don’t miss this opportunity to view an amazing deals @ THE PALMS. 1-bedroom  ($2250) tour at 12:00 (noon) and 2-bedroom ($2900-3100) tour at 11:30am. To join, you have to send us an email, rentals@parcbay.com to get in to the building. We look forward to seeing you! 415-299-9912, April will be meeting you at 555 4th Street lobby. For pictures and additional info, please visit http://rentals.parcbay.com

Posted by: Kathy Chan | Broker (kathy@parcbay.com)

Great opportunity to live in one of the most desirable area at the One Rincon Hill. This quiet corner unit is flooded with natural ligthts. High end finished throughout. There is a washer/dryer in the unit. Chef’s style kitchen. Floor to ceiling window. A large size private patio and MORE! Unit is approx 800 sq ft, located on the 9th floor.

**SPECIAL**$2600 only. Email kathy@parcbay.com | PARC BAY broker for details and to join this Sat tour! Visit www.parcbay.com for more info and pictures. Address: 425 1st Street. San Francisco

New Exclusive Rental Listing @ THE PALMS – San Francisco. This 1200 sq ft spacious 2 bedrooms has modern architecture, urban Chefs kitchen with granite counters, stainless steel appliances (BOSCH) and designer cabinetry. It’s located in one of the most desirable area in San Francisco – SOMA/Mission Bay area. Unit is available May 1st move-in. Min 1 year term.

 UNFURNISHED option is offered at $3100. FURNISHED option is available for extra $500 per month. One assigned parking is included. For more info, please visit our rentals section at http://rentals.parcbay.com.

To schedule showings, please email Luxury Leasing Broker kathy@parcbay.com | PARC BAY REAL ESTATE

ePRO REALTOR

Kathy Chan (kathy@parcbay.com), Broker of PARC BAY REAL ESTATE has recently added a new credential to her remarkable experience as a e-PRO Certifed.

An e-PRO’s access to advanced technology can save you considerable expense. You have more tools to find or market your home, so you’re likely to get a better price. With on-line home tours, you reduce in-person showings——and the costs involved. And by using e-mail, you save money on long-distance calls and fax charges.

Relocating? An e-PRO is ideal for you. With the tools to do your research electronically, you can make a decision on a home the first day you’re in town——or without traveling at all. You and your family save on travel costs. And after you’ve decided to buy, monitoring the sale by e-mail saves you even more.

Should you use an e-PRO? Yes——especially if you’re an Internet user. In this fast-paced age, technology has become a necessity. An e-PRO is someone who has recognized and responded to the needs of the new consumer. If you choose an e-PRO, it’s a safe bet you’ll get the kind of service you want——and need.

Beautiful bi-level 17ft high ceiling lofts in desirable South Beach/Financial District of San Francisco. This 1 Bedroom plus den unit is very large, approx. 1200 sq ft. Address: 77 Dow Place, San Francisco. For building info, visit:  The Hawthorne Place Or click here to learn more

Rental: $2700 (1 year lease min) Parking: $2900 AVAILABLE NOW

To schedule showing: please email kathy@parcbay.com – Luxury Rental Agents | PARC BAY or visit our rental section for a list of active listings

1.) Selection: There are a lot of homes currently on the market to choose from.  The large selection gives buyers a lot to look at and compare other homes with; which increases the chances of finding the right home for you.

 2.) Low Interest Rates:  Need I say more?  Low interest rates can be great when it comes to your monthly payment. Rates are so low right now that you may even be able to afford a 20 or 15 year mortgage vs. a 30 year!

 3.) Loan Options: There are several different types of loans that a buyer may qualify for. Some FHA Loans offer 100% financing!  There are also Rural Development loans, VA loans and conventional loans.  Talk to your banker to see which loans you may quality for.

4.) Competitively Priced Homes: Due to the large selection of homes on the market, many sellers are pricing their homes very competitively.  Does this mean they’ll give their home away – probably not.  But, it’s important that both buyers and sellers understand that homes are still selling if they’re realistically and competitively priced.

 5.) First Time Homebuyer Tax Credit: With the new first time homebuyer tax credit you may qualify for a tax credit up to 10% of the cost of your home (up to $8,000).  For more information you can visit: www.federalhousingtaxcredit.com

Source: Realtor Magazine

Kathy Chan (kathy@parcbay.com)

Designation: ePro/REALTOR, CAR, NAR, SFAR, Broker 

THE METROPOLITAN - NICE

Absolutely beautiful apartment located in a desirable One Rincon Hill area of San Francisco. This unit offers exceptional city views, high floor and high-end appliances. SPECIAL rate if leaase to start by April 1st! $200 saving per month. Address: 333 1st Street, San Francisco.

Contact Luxury Leasing Agent/Broker – Kathy@parcbay.com or 415-370-3776 for more info or visit us online www.ParcBay.com

Short term rental acceptable at 6 months term (one year preferred). Beautiful and quiet unit facing the famous Ball Park. Unit includes 1 parking (gated). Large walk in closet and in unit washer and dryer. Granite countertop and carpeted throughout. Approx. 750 sq ft.

Address: 250 King Street. $2600 per month

To schedule showings, please email Kathy sfrentals@parcbay.com

PARC BAY – Luxury Rentals Specialist

“Working with Kathy  at PARC BAY has been a very pleasant experience. She is professional, personable and knowledgeable of the real estate market. She has displayed a keen interest to assist me and at the same time, she has evidenced trustworthiness and integrity in her approach. I am pleased to recommend her, and I look forward to working with her again in the future.”

To hear more about what our clients say about us, please visit our customer testimonials page or join us on LINKED IN.

February 21, 2009  Jason L (THE BEACON – 250 King Street, SF)

FHA and Conforming Loan Limits Released
The U.S. Department of Housing and Urban Development has released new FHA and conforming loan limits based on changes enacted last week as part of the massive economic stimulus bill.

Under the legislation, loan limits in high-cost areas are increased to $729,750, the same as last year. They had dropped to $625,500 this year before passage of the legislation.

In a Mortgagee Letter released yesterday on the change, HUD says the new loan limit for an area will be based on market calculations from either this year or last year, whichever is the higher of the two calculations

Given current market conditions, many areas are staying at the 2008 mortgage limit.

The loan limits can be accessed in a searchable form on HUD’s Web site.

Source: REALTOR® Magazine Online

Contemporary dream condo offering luxury and city views with 2 BR/2 BA, approx 1200 sq ft of modern living complete with a private patio, granite counter tops, high-end appliances.  THE METROPOLITAN (address: 333 1st Street) offers exceptional amenities such as swimming pool, gym, residence theater, business center to name a few.

$3600 per month (includes 1 parking), unit is vacant.

Posted by: PARC BAY LUXURY LEASING

To schedule showings, please email kathy@parcbay.com

Beautiful Open Kitchen

Marble Bathroom

(UPDATED: For Sunday Feb 22, Showing, plesae call April, 415-299-9912 or april@parcbay.com)

We will be showing THE PALMS (555 4th) & THE BEACON (250 King) today, Feb 21. Email kathy@parcbay.com or txt 415-370-3776 for more details. For pictures, please visit http://rentals.parcbay.com 

555 4th Street

250 King St

We look forward to seeing you!

PARC BAY Luxurious Leasing Specialist

One of the most desirable floorplan at ONE RINCON HILL, with approx. 750 sq ft and a private patio. Unit offers both bay and city views. Address: 425 1st Street. Interest lists is now forming. To join, email rentals@parcbay.com 

$2800 per month with one parking. More pictures can be found on our rentals site or click here.

1 BR Rental 9th floor

One Rincon Hill

Exclusive new rental listing at one of the most desirable building in SOMA/Mission Bay area of San Francisco. This unit offers approx 700 sq ft of living space. In unit washer and dryer. Gas cooktop and upgraded Sub-Zero refrigerator (standard frige is BOSCH). Beautiful chestnut hardwood flooring throughout. Custom Closet Systems. Unit is located on the 8th floor. Won’t last. To schedule showing, please email luxury leasing specialists kathy@parcbay.com.

Rate: $2580 with one assigned parking. Address: 555 4th Street, San Francisco

Posted by: PARC BAY REAL ESTATE – Luxury Leasing