Upper Market Office
4200 17th Street
San Francisco, CA 94114
B of A has been using a secure communication hub call "Equator" for several years, but with new procedural improvements they hope to reduce the approval process from a minimum 45 days (which could very often be longer) to a 21-day time frame. This is due mainly to the change which allows several processes to be completed simultaneously during the approval process.
A few days ago Jerry Brown signed into law SB 458 which extends the same protections afforded to sellers of short sales, making 2nd lien holder follow the same rules as your 1st loan.
Late yesterday, President Obama signed a resolution that included a provision extending through fiscal year 2011 the current conforming loan limit of $729,750 for high-cost areas, including many in California. The same limits will also be extended to loans insured by the Federal Housing Administration.
If you did not hear, Ike's is still alive in its new location at Lime - 2247 Market Street between 16th and Sanchez. Currently only taking phone orders, but we hope to see the walk in available soon.
This is a link to the recommendations being made to the Board on September 28th for the Elementary Schools.
I went down to the San Francisco Fringe Festival this weekend to see a few shows. If you like alternative theater, comedy or just the obscure, this could be for you. There are 42 shows running over the next week, and most tickets cost just around $10.
Check out their website for more details and reviews: http://www.sffringe.org
Existing home sales dropped 27.2 percent nationally to a seasonally adjusted annual rate of 3.83 million units in July from a downwardly revised 5.26 million in June, and are 25.5 percent below the 5.14 million-unit level in July 2009, according to a report issued today by the National Association of REALTORS® (NAR).
On Thursday's NRP "California Money" it was stated that the Bay Area Median home price is up again, and this is true. But how useful are these headline market statistics when it comes down to your home (buyer or seller). Well, in my opinion, not much. You really need to look at your specific property and use recent sales that closely match to determine a value. For example, taking a look at District 5.