Guest Post by: Sam Marquit

Millions from all over the world, including residents (like me) of New York City apartments, make the journey to the Western Coast and visit historic San Francisco, California. Native Americans lived here for thousands of years before Spaniards and other European explorers arrived. The many sites of the city include the infamous prison, world famous bridges and an immigration story that rivals New York.

Alcatraz Island

Originally a military fort and prison, Alcatraz became a federal prison in 1934. Touted as escape proof, the facility housed hundreds of the most dangerous and notorious criminals in American history. Famed former inmates included Al Capone, “Machine Gun” Kelly and Robert Stroud, the “Birdman of Alcatraz.” The facility closed in the 1960s because of the expenses involved with maintaining the island. Millions of visitors travel to the destination by ferry to get a glimpse of the cell house interior. The prison also contains a museum that details the island’s history from military installation, through the prison years, and the brief Native American occupation.

Golden Gate Bridge

Designed by Joseph B. Strauss and constructed in 1937, the iconic bridge continues attracting millions of visitors annually. Guests may walk, bike or drive across the 1.7-mile span, which rises 746 feet above the water. Many simply enjoy the view from either end. The north end of the expansion bridge features a naval memorial and the south end has gardens, a café and the bridge pavilion. Historic Fort Point lies under the bridge. Constructed during the Civil War, at the height of the California Gold Rush, the fort protected the harbor until 1970 when the location became a national historic site.

Fisherman’s Wharf

From the days of the California Gold Rush, over a century ago, fishermen docked their boats, set off to sea and returned with their catch to Fisherman’s Wharf. The variety of fresh seafood commonly caught included Dungeness crab. During those early days, there were no restaurants or visitor attractions. On the piers, fishermen set up cauldrons filled with boiling water, cooking the crab and selling their wares. Today, only a few dozen fishing vessels leave port every morning, but the location holds numerous attractions that include historic ferries and schooners at the Maritime National History Park and the SS Jeremiah liberty ship.

Angel Island

Considered the Ellis Island of the West Coast, Angel Island served as an immigration processing location from 1910 to 1940. Over one million Asian immigrants arrived here. Many remained on the island for years because of government restrictions concerning Asian immigration. With government approval, the Chinese American community obtained recognition of the island as a state landmark in 1962.  

Chinatown

Having well over 100,000 residents, Chinatown in San Francisco is the largest Asian community outside of China. Hoisanese and Zhongshanese Chinese immigrants began arriving here in 1849. Those who successfully landed in San Francisco developed a community for support, as the new arrivals only possessed blue-collar skills and did not speak the language. The community steadily grew, establishing restaurants, shops and municipalities. Today, the area spans over 24 blocks and features typical Oriental styled buildings, Chinese gardens and a large selection of businesses. 

If you are a resident of San Francisco and wondering how much can I afford to spend on a house, then there is good news for you. Buying home in San Francisco is a lucrative option and the market in doing pretty well. The current rates of mortgage in San Francisco for 30-year fixed mortgage is 3.250% while the APR is 3.598%, for 15-year fixed mortgage is 2.750% and the APR is 3.138% and for 3 year ARM the rate is 2.125% while the APR is 3.374%. These rates are at an all time low and makes the mortgage market in San Francisco a very sought after place now.

Not only are the residents of San Francisco, living on rent are trying to buy new homes in order to take advantage of the low market rates and first time home buyers’ tax credit advantage, there are also residents of other states who are planning to shift to San Francisco or buy a house there.

In recent news, the Assessor-Recorder of San Francisco, Phil Ting had announced that San Francisco is having the strongest real estate market in the state of California with a growth nearing about $2 billion in the previous year. Ting also went a step ahead to predict that the growth will continue in San Francisco in the following years. Although this is surprising news for the buyers and sellers in the Bay Area, real estate agents are not taken aback by the disclosure.

Rick Teed, the cofounder of real estate and development company Teed Haze said that the city can be compared to a gold mine for real estate. He was quoted saying that if there is a house which has no view but it is redone and is in a locality such as Pacific Heights, then the value of the house would be north of $1000 per-square foot to start with. According to Teed, the prediction by Ting about the growing market in the city is logical as there is no new land.

The limited space in San Francisco has been commented on by Daniel Cressman who is the executive vice president of the commercial real estate company Grubb & El. According to him, the San Francisco market is one of the few markets in the whole of U.S. where the demand in investment for commercial office space far outstrips the available supply for sale. All these factors culminate in making San Francisco one of the best real estate markets in the country. 

Paul Smith

Sellers do not always reveal the entire truth about their homes to prospective homebuyers. This can often particularly be true when they have a strong incentive to sell, especially in the current real estate market. While you might not be able to afford to hire a professional inspector for every home you consider before making an offer, there are some steps you can take to assist you in spotting possible problems on your own.

1. Massive Migrations in the Neighbourhood

Never make the mistake of assuming that just because the house you are considering looks nice, everything is wonderful. Take the time to look around the neighbourhood. Are there many other homes for sale in the area? Have nearby businesses closed or been vandalised? Do not hesitate to chat with the neighbours and ask questions. If everyone else is leaving the neighbourhood, there is like a good reason. 

2. Poor Maintenance
Always be on the lookout for possible signs the current owners may not be maintaining the home. Such signs might include gutters that have not been cleaned, an unkempt garden and peeling paint. 

3. Problems with the Foundation
Be sure to inspect the front garden and drive to see whether it slopes toward the house. If so, it could result in water running toward the foundation walls or even into the basement. Both issues can be an expensive repair. Carefully inspect the foundation for possible signs of damage. Look for cracks or bulges, which can indicate serious structural problems. 

4. Bad Odours
Be cognizant of the smells inside as well as outside the home. If you notice any unusual smells, be aware this could indicate an issue. At the same time, realize that an overpowering odour of air freshener could be use to cover up something else. 

5. Antiquated or Faulty Wiring
Even though you may not have a background in wiring or electrical work, take the time to test all of the outlets and switches. If you notice circuits that are not operative, flickering lights or hot faceplates or outlets, be aware this could be a sign of wiring issues. 

6. One Wall that is Freshly Painted
While a new coat of paint can certainly give a home a fresh appearance, it can also sometimes be used to hide much larger problems such as mildew or mould damage or even water damage. Take note of whether there are any strange smells, saggy ceilings or walls or stains. If you notice any of these indications, do not hesitate to have a professional inspector check for leaks or mould. 

7. Blockades or Locked Doors
When viewing a home and considering it for purchase, there should never be any areas that are off limits while you are touring the home. If any areas are restricted to you, make arrangements to see those areas at a later time if you still have an interest in that home. There could well be a good reason why some rooms in the home are locked but you will need to make sure you view them at a later time before you make a purchasing decision. 

8. Windows that are Non-functional
Check to be sure all of the windows are actually functional and also that none have cracks and reveal condensation between the double-glazing. 

9. Floors or Structural Walls that Have Been Removed
While you might love the home’s current floor plan, take the time to ask whether any renovations have been completed. If a load-bearing wall has been removed without any other adjustments being made, weight can be shifted to other portions of the home. If so, retain the services of a structural engineer. 

10. Pest Problems
Certainly, no one wants to buy a house with pest issues. Vigilantly look for signs of possible pests, such as mice or roaches. Even if you do not notice any signs on your own, consider hiring a pest inspector if you think you might purchase the property.

Bio

Andrew Potter who runs UK online estate agent, “My Online Estate Agent” wrote this guest post. “My Online Estate Agent” is one of the UK’s biggest online estate agents and advertises all it properties on Zoopla and the other UK’s top property portals as well as providing a range of comprehensive tools and guides.

Houses that have too little room, have too few bedrooms, that are in a bad location, or that are not aesthetically pleasing can be very tricky to sell. Little things can make it challenging, too, though. Old appliances, carpet stains, and odd wall treatments can thwart your selling attempts. If you are finding it difficult to find someone who will take your home off your hands, there are some great tips that can help to make that sale.

1. Get together with a real estate agent and discuss your home. Ask him or her how your house rates – agents know what features are currently sought after and which will turn buyers off. A real estate agent can help you figure out which issues are making it a difficult sale. Most will also have some ideas to help improve your house’s appeal to prospective buyers.
2. Think about leasing to people. It can often make it easier to make a sale in the future if you lease. Many people want to buy a home of their own, but they don’t want to be forced to deal with the closing costs. If you lease the house to someone for a time, once the leasing period is up, they will be able to use the equity that has been earned as a down payment on buying the house outright. This makes it far easier for the person leasing to qualify for a home loan that will be put toward buying your house.
3. Redecorate. This doesn’t have to cost a lot, since just a few simple changes can make a world of difference. Many potential buyers are turned off by the color choices that you might think are beautiful and unique. They, however, want to see the house as a blank canvas for their belongings. Take down any patterned or brightly colored wallpaper. Paint all of the walls in your home a neutral shade of white.
4. Some extra lighting can make your home look more positive and larger. Dark rooms put people off because it makes the house seem small and gloomy. This could be as simple as putting in some brighter light bulbs, but you might need to buy a few floor lamps for particularly difficult-to-light rooms.
5. Clutter is another culprit that can cause your home to look much smaller than it is. Furniture is the number one problem here. Many people fill their living rooms, bedrooms, and dining rooms with furniture to make it seem cosier. When you start trying to sell your home, remove some of the furniture and decorative items like knick-knacks and collections. Clean kids’ rooms and make sure everything in them is organized – spacious bedrooms are a great selling point.
6. Improve your home’s curb appeal. First impressions are everything – when a buyer drives up, they have already made judgment. If your grass is tall and there is clutter all over your lawn, the windows are dirty, and your brick or siding is filthy, those prospective buyers are more likely to drive away immediately. They will assume that the inside is in the same condition. Clean up the outside of your home, have your lawn manicured, plant some flowers, add a little lighting along the walkway, and make sure that the garbage is off the curb.
7. Be careful not to overprice your home. If the market in your area is low, it will be very hard to get top price. Though it can be hard to lose the money, it is better to under price your home and get buyers who will snap it up quickly.

 Bio

This article was written by guest author Andrew Potter. Andrew Potter works for My Online Estate Agent, a UK based online estate agent where you can advertise on Rightmove, Find a Property, Zoopla and Primelocation.

             Does every cloud really have a silver lining? I believe it to be so. Rather than lamenting it, take advantage of our current economic situation. With the combination of low interest rates and low housing prices, Austin real estate company HomeCity.com believes now could be the best time to invest.

             The CNN story, “Real estate: It’s time to buy again,” provoked quite a stir on the web, from both supporters and opponents. One cyber-pursuer retorts: “Ha! What a joke.” Despite these cynical reactions, optimistic predictions about real estate are become more common among economists. This is partially due to the economic growth. A survey of economists and policymakers recently indicated that the gross domestic product, the “single most comprehensive indicator of the economy’s health,” will likely grow 2-3% this year. The prediction of economic assures us that the housing market will get stronger in due time.

             So, real estate will improve, but why should you buy now? Any real estate mogul will suggest trying to buy at the bottom of the market and, as studies indicate, we are pretty close to the bottom. One study by Deutsche Bank shows that homeowners now pay just 9.8% of their income in after-tax mortgage, tax, and insurance payments, down from 17.2% at the market’s peak in 2007. Additionally, with such low prices, home-buying has become incredibly affordable. Phil DeMuth, co-author of the hot-of-the-press Little Book of Alternative Investments, encourages his readers to buy by explaining that “Housing prices are where they were in 2002 and you’ve got mortgage rates at 5% now on a 30-year mortgage.” If you can qualify for a good mortgage, DeMuth says, “I’d say this is an excellent time to take that kind of position.”

            Even further, the dream houses that we couldn’t afford before are now attainable.

Robert Glaser, CEO of Smith & Associates Real Estate, explains that “with housing prices well below what they sold for a few years ago, and with mortgage rates below 5%, luxury homes that once seemed unobtainable are now within reach of more buyers.” But, as Glaser warns, “We expect the market has started to steady out as the inventory of attractively priced, well-located homes in the luxury range decreases, and as sellers attempt to begin raising property values again. But for the moment, there are still some great bargains out there.” The moment is fleeting and therefore as buyers, we’ve got to act fast. Happy shopping.