Blogs Tagged: condo conversion

You've Won the Condo Lottery--Now What?

Posted On: Wednesday, May 4, 2011 - 6:00am | Posted By: ebermingham
Topics: Buyers and Sellers

The annual condo lottery took place in San Francisco earlier this year, resulting in suddenly lucky TIC owners winning the right to start the path to condo conversion. I thought it would be a good time to take a look at the TIC and condo markets and give everyone a heads up on what to expect--whether you've just won, or may be on track to win next year.

Sorting Out Post-Condo Lottery Confusion

Posted On: Thursday, February 24, 2011 - 6:00am | Posted By: ebermingham
Topics: Buyers and Sellers

My colleagues and I have noticed a few listings coming on the market that are being classified as condos---but which are really TICs in buildings that recently won the lottery. It's important to note that until a building is fully converted and all units are officially condos, you can't call a TIC a condo. Even if everything is on track for condo conversion.

This is a good distinction to make if you're a buyer who's not interested in completing someone else's condo conversion. And

Condo Conversion Can't Come Soon Enough

Posted On: Monday, February 7, 2011 - 6:00am | Posted By: ebermingham
Topics: Market Statistics

The annual condo conversion lottery took place last week, with more than 2,000 property owners hoping that they'd win the right to convert their tenancy-in-common (TIC) interests to condos. However, under existing regulations, only 200 units were selected for conversion---leaving most owners out in the cold.

A recent 

The Virtues of the 2 Unit Building

Posted On: Monday, November 15, 2010 - 2:32pm | Posted By: jtheisen
Topics: Buyers and Sellers, Laws and Regulations, Market Statistics

As you may recall, I wrote last time about my enthusiasm for 3 unit buildings.  However, I am only slightly less in love with SF’s numerous duplexes. 

The Virtues of the 3 Unit Building

Posted On: Monday, November 8, 2010 - 1:00pm | Posted By: jtheisen
Topics: Market Statistics

I love the classic SF 3 unit building. In my opinion, it is the jewel of SF real estate, both from an aesthetic and an investment perspective.

TICs could bypass lottery & convert directly to condos – if…

Posted On: Friday, June 11, 2010 - 5:04pm | Posted By: jeremyburnett
Topics: Laws and Regulations

…the current proposal in Gavin's budget is passed by the Board of Supes.  TIC owners would pay a fee to bypass the condo lottery and condo convert. Everyone wins:  the city gets more income in the midst of a budget crisis, and TIC owners can increase or stabilize their property value becoming a condo and refinancing into more affordable

The Magic of the 2 Unit Building...

Posted On: Thursday, June 10, 2010 - 9:13am | Posted By: jeremyburnett
Topics: Laws and Regulations

...particularly the one just a half-block off 24th Street that has a beautiful top floor, two bedroom unit with a huge backyard that can be had for under $600k. In other words, the purchase price for this sweet 2 bedroom in an absolutely grade A location in Noe Valley begins with a 5. A FIVE. And it has parking.

TICs to bypass condo conversion lottery for a fee?

Posted On: Friday, June 4, 2010 - 3:43pm | Posted By: aimeearost
Topics: Laws and Regulations

The San Francisco Chronicle reports that Mayor Newsom has resurrected a proposal to allow owners of tenancies in common (TICs) to pay a one-time fee to bypass the city's lottery requirements and convert to condos.