In this episode, San Francisco Real Estate Broker and expert Matt Fuller answers one of the most common questions he gets from both home buyers and current owners. And there’s a lot to consider.

Keywords

AirBnb, San Francisco, real estate, short-term rentals

Takeaways:

Get the answers to your most pressing questions around the use of Airbnb in San Francisco, including:

·       Can I buy a place with the purpose of renting it out on Airbnb?

·       Do I need to live at the property to rent it out?

·       I’m a renter; do I need my landlord’s approval to sublease my place on Airbnb?

·       What kinds of extra rules do local condo boards and apartment buildings impose?

·       Does San Francisco require additional paperwork or fees?

If you’ve got questions about Airbnb usage and other San Francisco real estate matters, Matt Fuller has the answers. Matt offers both the official and unofficial takes, with insight gleaned from three decades of experience. 

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The resignation of Tracy Casper, NAR president, raises questions about the timing behind her departure. San Francisco Real Estate Broker Matt Fuller presents a thought-provoking analysis of the situation, shedding light on potential alternative explanations for Tracy Casper's resignation.

Keywords

Tracy Casper, NAR president, resignation, blackmail, lawsuit settlement, NDA, real estate, San Francisco

Takeaways

The resignation of Tracy Casper from the NAR presidency raises questions about the timing, circumstances, and motivations behind her departure.

The timing of events surrounding the $1.8 billion lawsuit settlement and Tracy Casper's resignation suggests a possible relationship between the two events.

Speculation arises about the possibility of an alternative explanation for Tracy Casper's resignation, involving disagreement with the proposed NAR settlement and the likely presence of a comprehensive NDA.

Matt Fuller's analysis provides a thought-provoking perspective on the situation, prompting further exploration and consideration of alternative explanations.

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• What is Local Take, and what do they sell?
• Jenn's Favorite Neighborhood?
• What is Castro Street Fair?
• Who Shops Local Take?
• What Do Tourists Miss in San Francisco?
• Differences between Castro and Inner Sunset?
• Opinion on the Formula Retail?
• When is Castro Street Fair?

As always, thanks for listening! If you enjoyed the show, a five-star rating on your favorite podcast app really makes a difference to our show rankings. Until next time, thanks for listening from your San Francisco real estate friends!

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• How is Cooperation Amongst Realtors and Their Brokerages Going?
• Is the Market Slowing Down?
• How Hard is a Realtor Job?
• What Has Changed In the Internet Era?
• What are the Threats to Realtor Associations?
• Is the MLS in an Orderly Marketplace, or is it a Monopoly?

As always, thanks for listening! If you enjoyed the show, a five-star rating on your favorite podcast app really makes a difference to our show rankings. Until next time, thanks for listening!

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• On What Types of Buildings did Dr. Color work?
• How to Define Good Taste?
• Why Should We Use Test Colors?
• What are the Current Trends Right Now?  
• When Did Colorist Movement Started in San Francisco?
• What Should You Never Do When Picking Colors?

As always, thanks for listening! If you enjoyed the show, a five-star rating on your favorite podcast app really makes a difference to our show rankings. Until next time, thanks for listening!

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• What is Feng Shui?
• What are the Most Common Misconceptions About Feng Shui?
• How to Make Small Apartment Look Better to be in?
• How Important is Natural Light in Your Living Space?
• What are Benefits of Having a Few Plants in Your Living Space?
• Importance of Artwork in Feng Shui?
• Which Colors Suit Which Room?
• What are Steve's Four Big D's?

As always, thanks for listening! If you enjoyed the show, a five-star rating on your favorite podcast app really makes a difference to our show rankings. Until next time, thanks for listening!

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• What is SB 9 Law?
• What Does it Solve?
• What is the Future of Single-Family Zoning?
• Is There Anyone Who'd Like to Avoid SB 9?
• How do Dwelling Unit Built Under SB 9 Differ From ADU's?

As always, thanks for listening! If you enjoyed the show, a five-star rating on your favorite podcast app really makes a difference to our show rankings. Until next time, thanks for listening!

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• How to manage Earthquake Safety and Earthquake Insurance in San Francisco?
• What Kind of Houses are Most Vulnerable to Earthquakes in Bay Area?
• Which are the Top Five Vulnerabilities in Houses?
• What are Cripple Walls in Buildings?
• What are Vulnerabilities of Hillside Houses?
• What Construction Work Should be Done to Make Homes Safer from Earthquakes?
• How to Retrofit Homes to be Safer in the Future?
• What and How to Plan for an Earthquake?

As always, thanks for listening! If you enjoyed the show, a five-star rating on your favorite podcast app really makes a difference to our show rankings. Until next time, thanks for listening!

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These are some of the topics we cover in this episode with Inna:

• How it is to Work as a Real Estate Agent in San Francisco?
• Has the Leasing Market hit the Bottom?
• Which Neighbourhoods are First or Worst these days?
• What can You Expect and What are the Prices on the Market?
• How Much of Her Job is to Help People Correct Misunderstandings of What They See on the Internet?
• Are There Many Scams on the Market?
• Is San Francisco a Pet-Friendly City?
• What is Her Ideal Client?
• What was the First Deal She Made?

As always, thanks for listening! If you enjoyed the show, a five-star rating on your favorite podcast app really makes a difference to our show rankings. Until next time, thanks for listening!

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• What is Mighty Buildings? 
• How is it different from past and other pre-fab?
• How Much Land Do You Need? 
• Can it be Painted?
• Where Have Mighty Buildings Already Been Installed?
• What’s the Lifespan? 
• How about Maintenance and Warranty? 
• What’s the Roof?
• How Does the American market for pre-fab compare to the global market? 
• How can Mighty Buildings help solve the California Housing Crisis? 
• And, of course, How can You Learn More About a Mighty Home? 

As always, thanks for listening! If you enjoyed the show, a five-star rating on your favorite podcast app really makes a difference to our show rankings. Until next time, thanks for listening!

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Our guest built Zephyr Real Estate from brand new in 1978 to the largest independent real estate brokerage in San Francisco, with seven offices, more than 300 agents and over $2 billion in annual sales at its peak. While serving as President of Zephyr his creative leadership approach celebrated the company’s unique independent spirit - a driving force in its success. In 2020, Zephyr Real Estate became Corcoran Global Living, a franchisee of Corcoran Real Estate, and sadly, the end of the Zephyr brand.

Now retired from day to day operations and enjoying his time split between Hawaii and California, our guest was once a collegiate wrestler, is a US military veteran, a fellow Past President of the San Francisco Association of Realtors, and is also a husband and father. Joining us today from Hawaii is a man we’ve long personally admired, Bill Drypolcher. Welcome Bill, let’s jump into this!  

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In episode 108 my friend and retired real estate broker Don Saunders helped us understand the fair housing massacre of the 1963 Rumford Act by 1964’s state ballot initiative known as Proposition 14 that was sponsored, written, and supported by my state trade association now known as the California Association of Realtors. The outcome of that November 1964 election truly changed the course of American history in ways that impact us to this day. 

Episode 109 begins with a powerful statement from the 2021 President of the California Association of Realtors, Dave Walsh. One community activist and four Realtors then discuss the progress, setbacks, and impacts of racism in the bay area. It’s a lively roundtable that tells a more complete story than you’ve likely heard or told yourself about housing racism in the bay area. Yes, even in tree-hugging progressive San Francisco we have a deep history of housing racism.

That ends our recap, and brings us to our final podcast in this series. 

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Dena Aslanian-Williams

Realtor Extraordinaire. Don't let this short bio fool you, she's a phenomenal REALTOR! with Compass Real Estate at the time of publication.

Kevin Birmingham

Founder, Park North Real Estate

A west-side San Francisco native, Kevin is a Past President (2018) of the San Francisco Association of Realtors, the founder of Park North Real Estate, and has consistently performed in the top 1% of agents nationwide. Kevin has a degree in economics from Colorado State University, raising three kids in the city with his wife Terra. When not rabble-rousing for a fairer city, Kevin is a huge Bay Area sports fan and can be found out walking the family dog.

Tia Hunnicutt

Married for 30 years, mother of three.

*Licensed as a Broker since 2009

*Past President of the Oakland Association of Realtors

*Immediate Past Chair of Bridge MLS

*CAR Region 6 Chair

*CAR Executive Committee

*Coldwell Banker International President's Circle

*Coldwell Banker Global Luxury

*NAR certifications and designations: Accredited Buyer Representative, E-Pro, Pricing Strategy Advisor, Short-Sales and Foreclosures Resource, Seniors Real Estate Specialist, At Home with Diversity, Certified Luxury Home Marketing Specialist

Dr. Veronica Hunnicutt

Community Advocate and Activist

Former Educator at San Francisco Unified School District (in the Engineering and English Departments)

Former Educator and Administrator at City College of San Francisco (English Department/Chair of African American Studies/Dean of the Southeast Campus/Dean of the Office of Student Affairs)

Former Member of the Mayor's Citizens Advisory Committee for Community Development

Commissioner on the Commission on the Status of Women

Commissioner on the San Francisco Housing Authority

Chair, Minnie and Lovie Park CRC ( Parks and Recreation site)

Founding Board Member, Alliance for Girls

Chair, Citizens Advisory Committee for the Shipyard

CEO, HG Inc. 

Recipient of various Community Awards and Commendations

Proud Mother of Tia Hunnicutt

Allen M. Okamoto

Broker/Owner, T. Okamoto & Co. 

GRI, SRES, CIPS CRB, CRS

We are a small boutique real estate brokerage in San Francisco's Japantown. Although our primary market is Japanese we service almost all of the Bay Area Counties. We specialize in single family homes, condos and small apartments. We also have a very active property management department.

Over the past 30 plus years I have been involved in fair housing and diversity issues at the San Francisco, California and National Association of Realtors. At SFAR I formed the Asian Council which made the association a more friendly place for Asians to express their collective views. I was the first elected member of the board of directors and the first Asian President of the Board.

At the California Association of Realtors, I founded the International Forum where Realtors could explore opportunities in foreign countries and to learn about their customs and cultures. I also chaired the Equal Opportunity Cultural Diversity committee.

At the National Association of Realtors, I was on the work force that developed the "AT Home with Diversity" designation. I was the Chair of the Fair Housing Forum and the first chair of the Equal Opportunity committee.

In 2003 I was part of the group that formed the Asian Real Estate Association of America AREAA, the first national Asian real estate organization. We now have over 17,000 members and 42 chapters across the United States and Canada. We are the largest Asian membership organization in the United States.

I currently serve on the California Association of Realtors Fair Housing & Diversity Task Force. 

An Apology From the National Association of REALTORS® for our past discriminatory behavior at the National board level.

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The first in a three part series, we begin in 1963 and the passage of the Rumford Fair Housing Act, and the response from the California Real Estate Association (CREA) now known as the California Association of Realtors (CAR). 1964’s state ballot initiative known as Proposition 14 was sponsored, written, and supported by the California Association of Realtors.

The outcome of that November 1964 election truly changed the course of American history in ways that impact us to this day. Join me in understanding the battle for fair housing in 1960s California, how it impacts us to this day, and what we can do to help change things in 2021.

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Today's topic is Intermediate Length Occupancy Rental Law in San Francisco, a new law that was passed in response to political outrage over 2100 Market St. and other similar projects, many of which appear to be in challenging financial times because of the ongoing pandemic.

A guide to jargon and agencies mentioned in this podcast:

ILO Law - Intermediate Length Occupancy Law (rentals between 30 days and 1 year) in effect June 2022

NOV - Notice of Violation

UDU - Unwarranted Dwelling Units -space that is indicates that its legality is not verified by the Department of Building Inspection

https://default.sfplanning.org/plans-and-programs/planning-for-the-city/accessory-dwelling-units/Legalization_FactSheet-091017.pdf

COPA - Community Opportunty to Purchase Act  https://sfmohcd.org/community-opportunity-purchase-act-copa

Goldstein, Gellman, Melbostad, Harris & McSparran - https://g3mh.com/

SF Board of Supervisors  https://sfgov.org/agency/board-supervisors

SF Planning Commission https://sfplanning.org/

SF Department of Building Inspection https://sfdbi.org/

SF Office of Short-Term Rentals  https://sfplanning.org/office-short-term-rentals

Small Property Owners of SF https://www.smallprop.org/

Coalition for Better Housing http://cbhsf.org/

SF Apartment Association  https://sfaa.org/

Urban Displacement Project https://www.urbandisplacement.org/

San Francisco Real Estate Brokers, Jackson Fuller: https://jacksonfuller.com/

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David is an architectural photographer who also has a familial link to Northern California’s property market through is grandfather, Joseph Eichler. Joseph was one of the most iconic property developers in the area in the 20th century. Listen in to the episode to hear David talk about the ins and outs of architectural photography, the family history, and how that history affects David’s work and worldview.

Topics Discussed in This Episode:

• What architectural photography is
• Why architectural photography is in a class by itself
• How long the average shoot lasts
• How long David has been doing photography professionally
• David’s first camera
• The best and worst parts of architectural photography as a job
• The most challenging shoot David has ever had to do
• Whether David has favorite pictures that he’s taken
• How David’s grandfather, Joseph Eichler, influenced his view of architecture
• Joseph Eichler’s stand against racism
• What it’s like to have a recognizable last name in the industry
• How David’s view of his grandfather’s buildings have changed over time
• The biggest misunderstanding that persists about David’s grandfather

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Topics Discussed in This Episode

• Andrew’s disability awareness work
• How Andrew ended up in his career
• What Andrew’s home is like
• How long Andrew has been in his home and how he found it
• How Andrew feels about the word “accessible”
• Accessibility standards in San Francisco real estate
• How “accessible” homes are often not truly accessible
• How accessibility restricts the parts of a city disabled people can live in and the types of homes they can live in
• Why people may not like to think about accessibility
• How the ADA does or doesn’t apply to residential real estate
• The importance of talking to people with disabilities about their disabilities
• The value of hiring disabled people
• The top things that the real estate industry can do to accommodate people with disabilities

Related Links

Andrew Gurza

Andrew on Twitter

Andrew on Instagram

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With about five weeks of shelter-in-place, we take a look at what's happened to market activity in San Francisco.

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The pertinent real estate guidance from that document is below:

Paragraph 13 Section f Paragraph x:

Service providers that enable residential transactions (including rentals, leases, and home sales), including, but not limited to, real estate agents, escrow agents, notaries, and title companies, 

• provided that appointments and other residential viewings must only occur virtually or,
• if a virtual viewing is not feasible, by appointment with no more than two visitors at a time residing within the same household or living unit and one individual showing the unit (except that in person visits are not allowed when the occupant is still residing in the residence); 

• What is a virtual tour?

• Why can't I find information online about virtual tours?

• What should I do to be ready for a virtual tour?

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Then we go down the rabbit hole in search of how the due dates came to be, where May 4 comes from, and what is likely to happen between now and then.

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Our guest today is Kevin Birmingham, founder of Park North Real Estate, fellow SFAR past president, and all around good guy. He's also an incredibly sharp person with some of the most prescient insights into SF real estate.

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All of the forms mentioned are available to licensed Realtor practitioners in the state of CA through zipforms.

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In addition, Matt explains the mis-match between properties that are displayed on websites and apps vs what properties are actually available.

Short story, shorter: Be in touch with your agent, and if you don't have one, we'd love to chat with you.

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Links mentioned in show:

Federal Directive from DHS that is not binding (Mar 28, PDF)

SF list of essential businesses and exemptions

Open San Francisco city services

How you can volunteer during the shelter-in-place directive

SF Social Distancing Guidelines

#stayhome, #staysafe

In this episode we address the confusion about real estate's classification as an essential business.

The one situation I can imagine where it is okay to do business as a broker: if you have a court order to sell a home and want to livestream a tour with no one else present, go for it. Then remember that title companies are not open, appraisers and inspectors are not essential businesses for transactional activities, and if you can put that deal together and get it to closing while staying 6 feet away from everyone, I salute you and invite you on to the podcast to tell us all how you did it! 

Otherwise, stay home. If you are stuck at home and looking for ways to volunteer, the city has a page with links and suggestions to volunteer opportunities during the mandatory shelter-in-place directive. 

While the business of real estate is transacting business on behalf of our clients, my joy and meaning, and what has kept me in the real estate business, is the satisfaction of helping another person. While now is not the time to transact, it is absolutely the time to do whatever you are able to do to help our neighbors, both literally and figuratively.

Sitting still, much less staying home, is hard for all of us . I can’t wait to do business with you when the directive is lifted, and until then the best way to help everyone in San Francisco is to stay home and stay safe. 

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[00:40] This is the first ever podcast our guest has ever been on. She is more used to 8-track tapes and cassette tapes.

[01:01] Our guest is perfectly proportioned; with a sunny outlook and open with her plan. Did Lizzo dedicate a song to her?

[01:53] One of the things that make her unique is her phenomenal outlook on nature.

[03:03] Is our guest trying to meet someone? A serial monogamist, she’s feeling a little empty lately. Sometimes it feels like she is tucked away, but really she’s perched above a canyon in the heart of everything.

[04:12] Our guest has a plan. Its open. It features a recently updated kitchen which just flows to the casual/formal dining. Vaulted ceilings, lots of light, and even a fireplace.

[05:45] Let's play a three question game for the listeners who still need a couple more clues to figure out who our guests is!

[06:49] Our guests facade seems modern and recently updated. How much work has been done on her, exactly?

[07:24] Her number is 495292, so put those digits in the San Francisco MLS or your favourite real estate app. She is open on Sundays or by an appointment.

[07:55] With a lovely perspective both eastern and western, she can feel a little insulated from outside noise.

[08:31] How can we find our guest and learn more? 82 Malta Drive is the address, you can find her online at homeonmalta.com to see her photo album.

Thank you for listening. If you enjoyed this episode, leave us a review on your favorite platform, tell your friends and don’t forget to join us again next week!

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[00:21] Park North Real Estate is one of San Francisco’s newest independent brokerages. Kevin takes us through why he decided to start his own brokerage. Also, how did its name come to be?

[04:15] Kevin is a rare creature. He is a San Francisco native, growing up on the westside of San Francisco in the West Portal neighborhood, although at the time it was just called "The Sunset." Kevin talks a bit about what it was like back then and how the city he knew has moved to Colma.

[07:53] Matt asks Kevin for some San Francisco real estate predictions for this year. There are a lot of people with money coming to San Francisco. Kevin explains this seems to be a worldwide phenomenon; people are flocking to the big cities.

[10:20] We chat about the ‘08-’09 drop in real estate. Those were hard times. While this is not what we are seeing now, are we going to be seeing more reasonable prices in San Francisco?

[12:30] When the stock market takes a hit, the real estate market starts looking more like a safer investment. You have to look long term, however.

[14:01] Why you should never try to buy at the bottom of the market and sell at the height of the market? Kevin explains his take on the seasonal cycle of real estate.

[15:50] Is Kevin a San Franciscan, or a janitor? (on a side note, we adore his wife!)

[16:59] San Francisco is a place where you can be anything you want, so Matt asks why Kevin chose to be a realtor?

Thank you for listening. If you enjoyed this episode leave us a review on your favorite platform, tell your friends and don’t forget to join us again for our next episode!

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[00:40] A lot of people think about selling their property at this time of year. The nice thing about bridge loans is that they make it possible for people to buy their next home allowing them to move out and stage their house for sale.

[01:04] We have been working with Opes for over a decade now. Tracy tells us a little bit about Opes Advisers and her background. She also explains what a bridge loan is and what are some of its major benefits.

[06:24] One feature of bridge loans is that they are short term loans, typically having a term of only six months.

[07:21] Another feature is that with a bridge loan there are no monthly payments. The only out of pocket costs are the 3% initial deposit and closing costs. Tracy explains how this works.

[09:12] The interest rates on a bridge loan are time plus 2.5. Currently this would be 7.25%.

[10:18] What is the difference between a bridge loan and a regular equity line? Tracy goes over some issues with a HELOC that you don’t get with a bridge loan.

[13:32] If anyone has more questions or wishes to apply for a bridge loan Tracy recommends getting in touch with her on her cell-phone.

[14:00] Tracy talks about appraisals required for a bridge loan. What is different to the normal process that’s good to be aware of?

[15:38] As we learned earlier a bridge loan is a six month product and this is sufficient for a large majority of cases. But what happens when the six month period goes by and the house has still not sold? Are there extensions given?

[17:18] Most people are not aware of this product but it takes a lot of anxiety and pressure away.

[18:38] Matt wraps up with a quick summary of points covered today!

Thank you for listening. If you enjoyed this episode leave us a review on your favorite platform, tell your friends and don’t forget to join us again next week!

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[00:44] Kay shares a little of her background with us. We also learn how she came to buy her lovely house in Burlingame almost forty years ago which was almost brand new at the time.

[03:46] Other than the perfect location, the two other features that made Kay fall in love with the house were the easy upkeep and the huge closets!

[05:24] This summer we accidentally found her second dream home, so we needed to get Kay’s home in Burlingame on the market fast. Kay explains it was a challenge of getting her home ready for sale while still living in it.

[07:14] Initially, we tried to sell Kay’s house as is, with all her furniture but didn't have much luck. We then moved Kay out, revamped and staged the house before trying again. What was the second process like in comparison to the first time around?

[09:29] The unique thing about selling a house is the emotional component that comes with it. After all the renovations Kay’s home was completely transformed. Did it hurt her feelings having to do this or was it exciting?

[14:30] The house was put on the market the second time and this time it sold within ten days, over asking price. Looking back on all of the drama, was it all worth it?

[15:09] Interestingly, after looking at numerous properties, the new house Kay ended up buying was also staged. What advice does she have for anyone considering selling their place while still living in it?

[16:46] While selling a home is a very emotional process, the aim is to make as much money as possible. To achieve this, it needs to look as good as possible.

Thank you for listening. If you enjoyed this episode leave us a review on your favorite platform, tell your friends and don’t forget to join us again next week!

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[00:21] People love pictures, which is why real estate marketing (at least in San Francisco) is all about photos. Everybody wants photos. Everybody also wants privacy. The problem with this is, that once something is up on the internet it is generally very difficult to take it down again.

[02:00] While sellers are very well informed about how hard it is to get photos off the internet, buyers don’t get a lot of heads up about this fact. One of the things a buyer can do, however, is ask the listing agent to take down photos of interior shots and floor plans before the sale closes. What are some other things buyers can do?

[05:15] On the flip side, when an agent deletes all the interior photos the value of the multiple listing service database is degraded to agent subscribers. Is it possible to keep a set of photos internally?

[07:10] To wrap up we share some advice to buyers concerned about privacy.

Thank you for listening. If you enjoyed this episode leave us a review on your favorite platform, tell your friends and don’t forget to join us again next week!

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[00:21] Last round’s answer: Russian Hill.

[00:50] Clue 1: The two best known features of this neighborhood are called Eureka and Noe, the two summits in the neighborhood for those seeking great views of the city.

[01:22] Clue 2: There is also a lesser know summit in the neighborhood called, Christmas Tree Point.

[01:50] Clue 3: This neighborhood contains the geographic center of the city.

[02:09] Clue 4: It’s also home to the Sutro Tower.

[03:08] Clue 5: One of the most defining characteristics of this neighborhood is fog.

[04:06] Clue 6: There is an endangered species that calls this neighborhood home, the Mission Blue Butterfly.

[05:22] Clue 7: The Mission Blue Butterfly’s habitat, and other sections of the summits, have been deemed a natural area and are protected by the Natural Areas Program of the SF Recreation and Parks department.

[05:55] Clue 8: Located in this neighborhood, the city also invested in the Summit Reservoir that holds 14 million gallons of drinking water, also used by the firefighters.

[06:53] Clue 9: The Neighborhood Improvement Association has discouraged business permits in the neighborhood but there are plenty of places to eat and shop along its edges.

[07:19] Clue 10: This neighborhood is North of Diamond Heights, South of Cole Valley, West of The Castro and East of Forest Hill.

As always, tune in next time, when we reveal the answer to this week’s neighborhood!

Thank you for listening. If you enjoyed this episode leave us a review on your favorite platform, tell your friends and don’t forget to join us again next week!

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[00:21] Last round’s answer: Ingleside Terraces.

[00:50] Clue 1: This is one of the original seven hills of San Francisco.

[00:58] Clue 2: You probably heard of a particular street in this neighborhood, that actually began as a straight cobble stone street. But, it is not so straight anymore!

[01:16] Clue 3: It has long had the title of having the steepest street in San Francisco.

[02:02] Clue 4: There are a few well known parks in this neighborhood. One with spectacular views of The Bay, the Golden Gate Bridge, Alcatraz and Sausalito.

[02:25] Clue 5: Another park in the neighborhood is named after a poet and librarian who became a revered member of the SF literary community, Ina Coolbrith.

[02:50] Clue 6: Sometimes described as a haven for artists, this neighborhood has strong ties to the literary community. There are four historical districts within its borders and both Jack London and Mark Twain lived there.

[03:09] Clue 7: While you are there you can visit the SF Art Institute where you can see Diego Rivera’s murals.

[03:42] Clue 8: There are great food and boutique options in this neighborhood. Examples include the Cheese Plus, the original Swensen's Ice Cream Shop, great nightlife and more.

[04:19] Clue 9: It is on the North-East side of the city; with North Point St bordering the Northern end, Columbus Ave on the East, Van Ness Ave on the West and Broadway on the South.

[04:40] Clue 10: This neighborhood got its name after a cemetery where people were buried on behalf of a particular foreign country.

As always, tune in next time, when we reveal the answer to this week’s neighborhood!

Thank you for listening. If you enjoyed this episode leave us a review on your favorite platform, tell your friends and don’t forget to join us again next week!

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[00:22] Last round’s answer: Nopa, right across the street from the Panhandle.

[01:15] Clue 1: This neighborhood is famous for its sundial, which at the time of its dedication in 1913 was the largest in the whole country.

[01:48] Clue 2: It has a lot of pride and its own newspaper called, The Sundial.

[02:27] Clue 3: The Pacific Coast Jockey Club opened a racetrack there in 1895 and the original racetrack loop is a current road in this neighborhood.

[03:20] Clue 4: The neighborhood became one of eight master plan residents parks in San Francisco officially opening in 1913.

[04:01] Clue 5: The first person moved into the neighborhood in June of 1912.

[04:38] Clue 6: The first non-caucasian, Cecil Poole, moved into the neighborhood in 1957.

[05:21] Clue 7: The neighborhood CCNRs said that the original homes had to cost at least $3,500 to construct and only single-family homes were allowed.

[06:04] Clue 8: To get to this neighborhood you could take the Municipal Railway K line which runs along Ocean Ave towards West Portal or you could head down toward Glen Park or Balboa Park stations and city college. Junipero Serra Blvd offers easy access to the peninsula.

[06:41] Clue 9: A realtor would say this neighborhood is D4 west of Twin Peaks. On the north side of this neighborhood lies Ocean Ave, on the south side Holloway Ave, Junipero Serra Blvd on the west and Ashton Ave on the east.

[07:06] Clue 10: There are large pillars with the neighborhood name there and there is a pretty large mall not to far away.

As always, tune in next time, when we reveal the answer to this week’s neighborhood!

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[00:22] So there is a new building that popped up at the site of a former restaurant on the corner of Market, Church and 14th. From housing a market, a restaurant and then a vacant lot, this site went through a lot of different iterations before becoming what it is today.

[01:33] In 2016 the building was going to be home to 60 rental apartments. However, in 2019 we noticed activity in the units. What is going on? It appears 52 units will be taken over by a company called Sonder which will use the units for short-term, furnished rentals of 30+ days. Is this really where the gap in San Francisco housing supply that needs filling is, or is it just good business?

[05:48] By looking at all the feedback, it is clear to see that the majority of people are not happy about the use of the new building for this purpose. We venture at why this might be.

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[00:22] Last round’s answer: Polk Gulch, the original gay neighborhood in San Francisco.

[00:49] Clue 1: A restaurant just outside the border of this neighborhood, popularized the name of it.

[01:12] Clue 2: This neighborhood was first established under a different name in 1855 and it encompassed roughly 500 sq blocks.

[01:45] Clue 3: On two sides it borders parks but there is not a single park within the boundaries of this neighborhood.

[02:11] Clue 4: The eastern border of this neighborhood is the Divisadero Street which is full of boutiques, restaurants, vintage shops etc.

[02:43] Clue 5: The neighborhoods western border opens right up into the parts of the USF campus.

[02:55] Clue 6: Some say that the name for this neighborhood was created during the gentrification of the neighborhood. Another theory is that the new name was created by the Neighborhood Association.

[04:00] Clue 7: While there are no parks in this neighborhood, it is home to a large hospital that fills two city blocks.

[04:22] Clue 8: In this neighborhood you can also buy sweets from the Meter Maid Chariot.

[05:11] Clue 9: You can also get another tasty San Francisco frozen treat (that tourists from all over the globe come to sample) in this neighborhood.

[05:36] Clue 10: It is also a great neighborhood to cycle in as it is fairly flat!

[06:17] Bonus Clue: An issue that is somewhat controversial is: how many letters in the abbreviation for this neighborhood should be capitalized? Britton says two.

As always, tune in next week, when we reveal the answer to this week’s neighborhood!

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[00:37] Episode 80's neighborhood answer: Dogpatch

[00:52] Clue 1: In celebration of Pride month, we stay on theme and for this round choose the original SF gay neighborhood (No, it’s not The Castro).

[01:32] Clue 2: In 1962, the nation's first gay business association was founded in this neighborhood.

[02:05] Clue 3: The first official Pride parade in SF kicked off from this neighborhood in 1972 with 50,000 people in attendance.

[03:21] Clue 4: Besides gay bars and Pride parades, this neighborhood is home to a restaurant inside of an antique railcar, featured in the Bogart classic Dark Passage.

[03:23] Clue 5: To get to this neighborhood, approaching from the south you can walk a few blocks north-west from the Civic Center Station through the Tenderloin, or take the California street cable car to Van Ness.

[03:49] Clue 6: It has its own central commercial strip with a wide selection of independent shops and restaurants, home to Matt’s favorite French restaurant in the city.

[05:13] Clue 7: Due to gentrification, there have been some notable closures of well known LGBT establishments over the last few years.

[06:40] Clue 8: Concerned citizens from this neighborhood founded an organization that provides comprehensive housing, healthcare, employment, and education services to homeless youth from ages 12 to 24.

[07:26] Clue 9: It is sometimes described as a “microhood”. With just over 12,000 people within its borders, it also covers a relatively small area.

[08:23] Clue 10: This neighborhood’s name consists of only two words. The first is for the major neighborhood street named after our eleventh president and the second word comes from the fact that it runs over an old stream bed at the bottom of a sloped valley.

Tune in next week, when we reveal the answer to this weeks neighborhood!

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[00:26] What trends should buyers be aware of in the condo and single family home markets? The numbers show that under a million dollars, condos are really the only available option, barring virtually uninhabitable single family homes. What about higher price ranges?

[02:58] We also see a continuation of a trend we’ve been talking about for a while. Number of sales year over year is down 10% for condos and 16% for single families, due to a very constricted supply.

[03:27] Prices for condos are down around 2-4% while single families are up 4-7%. The size of the market above the 1.5 million price point is a lot smaller than we might expect. Matt shares his thoughts on why we are seeing this in the market, by doing a bit of math around the income levels necessary to purchase a $1.5M home in SF.

[06:34] In future podcasts it will be interesting to compare a quarter or half a year with last year’s numbers and see if the same trends apply.

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[00:43] The answer to episode 79's neighborhood is: San Francisco MLS District 2F, otherwise known as the Inner Sunset.

And on to another San Francisco neighborhood!

[01:18] Clue 1: The 57 giant steel and concrete sections that make up the 3.8 mile transbay tube for the BART system were fabricated in this neighborhood.

[01:56] Clue 2: There is a historic area within the boundaries of this neighborhood due to the large number of pre-1906 Victorians that survived the great quake and fire of 1906.

[02:42] Clue 3: In this neighborhood you can be in Indiana, Illinois, Iowa and Michigan without leaving San Francisco.

[03:21] Clue 4: One of the city’s top 5 largest redevelopment projects is underway in this neighborhood.

[03:52] Clue 5: A popular park is named for a once iconic San Francisco clothing company (Esprit), that is no longer headquartered in the city, within the boundaries of this neighborhood.

[04:31] Clue 6: Until the next one opens, the city's most recently added light rail line runs through this neighborhood.

[05:10] Clue 7: This neighborhood has miles of bay-front park and trails and it is known for sunny weather and warm temperatures.

[05:28] Clue 8: Ship building and repair thrived in this neighborhood for over 150 years; repair still continues.

[06:10] Clue 9: Legend has it that the name for this neighborhood comes from stray animals eating discarded remnants from an old neighborhood slaughterhouse.

[06:32] Clue 10: The city’s oldest public school building (dating back to 1895) as well as the headquarters for the Hell’s Angels Bikers Club are in this neighborhood.

Tune in next week, when we reveal the answer to this weeks neighborhood!

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[00:47] The mystery neighborhood from last week’s episode, Are You Smarter Than a Realtor, Neighborhood #1, is…Pacific Heights.

[01:20] Clue 1: One of the oldest bars in San Francisco, The Little Shamrock, is in this week's neighborhood.

[02:01] Clue 2: Some say you can find the best Chinese chicken wings in the city in this neighborhood at the San Tung Chinese Restaurant.

[02:28] Clue 3: This is a neighborhood without a single park within its boundaries.

[02:46] Clue 4: However, it is a very park-adjacent neighborhood, including: Golden Gate Park, Grandview Park and J.P. Murphy Playground.

[03:18] Clue 5: When exploring this neighborhood you can easily have a seat in public, as the Public Bench Project started here.

[04:15] Clue 6: A well known worker-owned bakery cooperative, Arizmendi, opened their first location in San Francisco in this neighborhood.

[04:43] Clue 7: This neighborhood used to have a very famous video rental store – today it is a book store!

[05:26] Clue 8: World class scientific discoveries and trend-setting public health policy research comes from the institution, which also happens to be this neighborhood’s biggest employer – UCSF.

[06:00] Clue 9: If you are going to the Japanese Tea Garden, the Conservatory of Flowers, the de Young Museum, the California Academy of Sciences or the Bison Paddock, from this neighborhood, leave your car at home as walking will get you there quicker!

[06:45] Clue 10: The most heavily used light rail line in the city serves this neighborhood.

[07:11] And finally: Within the bounds of this neighborhood you will find, Alice Fong Yu School, the very first Chinese immersion public school in the country.

Tune in next week for the reveal!

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[00:45] Clue 1: Donald Trump Jr’s current girlfriend and former Fox News personality once lived in this neighborhood with our current state governor.

[01:18] Clue 2: It contains a park which was once a rock quarry but was turned into a park by John McLaren (also designed the Golden Gate Park).

[01:44] Clue 3: Another park in this neighborhood was once home to the first astronomical observatory on the west coast?

[02:15] Clue 4: In this neighborhood we have the most expensive stock cooperative home to ever sell in San Francisco, but not the most expensive condo.

[02:30] Clue 5: In this neighborhood Alma Spreckels once built a massive mansion across from the park. How massive? The current owner once had street parking permits for 26 cars.

[03:25] Clue 6: This is a very expensive neighborhood. In fact so far, six single family homes have sold for a total of $80 million and 12 condos have sold for a total of $24 million. The math equals expensive.

[03:59] Clue 7: More than five properties in the neighborhood have sold for more than 20 million dollars and it is home to four of the most expensive sales in San Francisco in the last two months.

[04:19] Clue 8: I wouldn't be lyin' if I said the view from the top of these stairs was spectacular.

[04:34] Clue 9: Mrs Doubtfire has her home in this neighborhood!

[05:01] Clue 10: Other notable residents’ job descriptions include oil heirs/heiresses, Fortune 100 software CEO’s, and titans of finance. Extra hint: Billionaires’ row is not marketing hyperbole here, it's a factual statement.

Do you know what neighborhood we are talking about? Tune in to next week’s episode for an answer.

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[00:21] We learn more about Tom and Doug, their brief background and how long they have been agents.

[01:49] When our clients decide to move to Portland we love to refer them to Tom and Doug. While there are a lot of similarities between our two cities, we would love to hear how Californians take to settling in Oregon.

We discuss some differences in seller requirements between California and Oregon as well as SF quirks that have been rearing their head in Portland.

[08:38] Price is another major point of difference between the two cities. What does a typical three bedroom, two bath condo or single-family house cost in Portland? Why have 30-50% of all listings in Portland had a price reduction?

Portland does still see over-bidding in desirable neighborhoods and the most competitive markets commonly generate multiple offers (either at asking price or over).

[12:21] In Portland about 30% of buyers are cash buyers; mostly they are coming in from other markets, though. Similarly to SF, this means a housing crisis and affordability issues. There are suggestions of doing away with single family zoning and limiting the square footage of new construction.

[16:56] Tom and Doug have lived in Portland since 1992; what are some of the changes they’ve seen and how similar are they to SF?

[19:41] What is some advice for folks considering exploring Portland area? Don’t hesitate to get in touch with Tom and Doug; visit their website everyportlandhome.com for more.

[21:10] We talk about Portland neighborhoods. How is it laid out and how many neighborhoods does it have?

[24:31] To wrap-up Tom and Doug share some great things about Portland.

Thank you for listening. If you enjoyed this episode leave us a review on your favorite platform, tell your friends and don’t forget to join us again next week!

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[00:23] Due to the current housing crisis in San Francisco, Mayor Breed has set a goal of creating at least 5,000 new homes a year; with roughly a third of this being affordable housing. It is a lofty and crucial goal she has tasked Judson True with achieving. Judson True has an impressive background and is the first person to be appointed to this newly created position. What, exactly, is his job?

[03:16] Currently, in SF there are 56,000 homes that have been approved by planning but are yet to be built. The vast majority are part of large new neighborhood projects which will transform the city. Projects like The Shipyard, Park Merced and Treasure Island. Dogpatch projects include Pier 70 and the Potrero Power Plant while Mission Rock is in Mission Bay.

[05:01] Judson is working on a lot of large projects and loves them all equally. But a little more equal than the others are the waterfront projects which he is particularly excited about. It is great to see some projects moving along really quickly. Because really, the hard part (and the part that takes the longest) when building new neighborhoods, is getting all the infrastructure permitted (our favorite new phrase: "horizontal infrastructure").

[06:59] Most of us realize that there is a real need for affordable housing in the city. How does funding for affordable housing work though? As you might imagine, it is complicated. Judson sheds light on how the funding for affordable housing and the building of market rate housing correlate, and where funds for affordable housing come from.

[10:00] Judson is from the mid-west originally, but an opportunity at Berkeley led him to SF, where he lived in the same apartment in Hayes Valley since 1998! Hayes Valley is one of the neighborhoods that has been radically transformed over the years.

[13:12] This year there are a lot of housing bills in the state legislature. Which in particular does Judson believe will have the most positive impact on housing in SF?

[15:15] Finally, what are Judson’s thoughts on the CASA Compact and its impact on the housing debate so far?

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[00:45] An introduction to our guest, Angela Alioto, an extremely accomplished individual with a history of significant legislative wins. She fought the big-tobacco companies, she fought for increases in AIDS and HIV services and support, and also won the nation's largest civil rights case against IBC/Wonderbread for discrimination against African American men... to name just a few.

With her background, the case of the Flintstone House may seem trivial but Angela argues it speaks to a very serious issue. She asks: “What happened to the first amendment”?

[05:21] The city is demanding Florence Fang, the owner of the home, have the dinosaurs from her backyard removed. Who has the right to decorate our backyard? Is this a first amendment case of free speech or a case about discrimination? Either way, it’s a troubling idea that we should all be subject to someone else deciding on what we can put in our backyard. Angela also stresses a key point: none of the neighbors have complained!

[07:43] Matt talks about the Town of Hillsborough Architectural Design Guidelines and how well the Flintstones House meets all four of the principles in the guidelines.

[09:26] What the City’s reasoning for reinforcing this is seems to be somewhat inconsistent. There is also no precedent for something like this in Hillsborough. Angela questions the real motives for doing this to Mrs. Fang. Could Mrs Fang’s ethnicity be what’s driving this whole issue?

[16:18] Angela believes the other homeowners in Hillsborough do not agree with the actions of the town and support property rights.

[21:21] Angela has always focused on things that matter; health care, homelessness etc. Because Mrs Fang and her house bring so much joy to people she decided this is a very worthy cause.

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[00:25] Joe and his partner at the time moved to San Francisco from New York in 1998. How did they end up in Midtown Terrace and how did their prior home in a co-op in New York influence their choice?

[03:15] Having lived in a few different neighborhoods over the city, Joe votes for location over property type. Currently he lives in Duboce Triangle ( giving up a car for this location) and it is his favorite neighborhood.

[04:10] How much has changed about San Francisco since 1998? Homelessness has always been a problem here but lately it seems like it has worsened. On the flip side, Joe believes, people here take time for each other and are nicer than in a lot of other parts of the country he has lived in. There are also some thing he misses that are starting to disappear.

[07:19] Joe owns a barbershop – Joe’s Barbershop on Market Street, which will be operating for 15 years this year. While there are challenges, the experience of being a small business owner in San Francisco seems to be improving. What are his thoughts on the rent increases resulting in the ‘retail apocalypse’ that we often hear about?

[10:49] Most people would agree San Francisco is going through a housing crisis. Joe believes this is largely due to our insistence on low density housing in lieu of vertical growth. The problem with increasing density around train transit lines, however, is NIMBY.

[12:56] So, while the prices are soaring, the experience of buying real estate and selling in San Francisco has not changed all that much. Joe talks about his very first over-bid...

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[00:28] Compassion, brotherhood, love. These are just some of our values in San Francisco. But do we always live up to these ideals?

The history of Sutro Baths is one example where we have some bad history. More recently a statue, Early Days, has been making the news due to to its portrayal of California history. Another example is the renaming of streets like Phelan.

[07:24] In addition to all the street name changes throughout San Francisco, the Embarcadero Plaza has also had a name change. It was once known as Justin Herman Plaza. So, why has Justin Herman’s name been stripped and the Plaza renamed?

[11:14] It’s not all bad though. To wrap up we give some shout-outs to the incredible women that have been a large part of San Francisco’s history. Namely: Julia Morgan, Dorothea Lange, Maya Angelou and finally Ruth Asawa. Thank You!

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[00:29] A housing crisis means new housing bills in the legislature and that means new acronyms and jargon. We jump right in with an acronym that doesn't exactly ‘acronymize’, the CASA Compact.

What does it stand for and why is it important?

[06:38] The CASA Compact acronym was formed by two other acronyms: the MTC and the ABAG. We explain what these are and what the nine San Francisco Bay Area Counties are that MTC is legally responsible for.

[09:32] You might be wondering who is on the CASA Compact committee? Luckily, Matt has the answer.

[10:24] In San Francisco we have a problem with NIMBYism at different levels and it lead us where we are today! There is always a lot of resistance to change and it is too soon to say what is going to happen with David Chiu’s bill at this point.

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[00:57] To warm him up, we start off with a lightning round of questions. Our chat starts with the first home he bought, how he found his realtor and whether or not he continued using that same realtor over the years. Then we move on to San Francisco and his favorite buildings and places in the city.

[06:12] What about outdoor spaces? Kevin shares his favorite places in San Francisco and why he loves them.

[08:41] If Kevin could change one thing – one real estate law in San Francisco – what would that be? He believes the bigger picture should be considered when considering the aesthetics and making city planning decisions. People with relevant backgrounds should be more heavily involved in this sort of decision making, as opposed to it being dictated by public officials.

Kevin also explains how even remodeling a single family home requires a lot of patience and money.

[12:11] We switch focus to interior design and Kevin explains how his own firm, Sawyers Design, came to life. With years of experience behind him since his first project, ten years ago, how has the world of interior design and Kevin’s own process changed over the years?

[14:50] Because we love to share stories of the unexpected and the strange from our own world of real estate, we had to ask Kevin to share his own! We also had to know, what is “the psychology of interior design”?

[18:56] Texture or color?

[20:38] If you are thinking of hiring an interior designer, an important question Kevin recommends asking them is, how they manage time and money. It is also good to know how much you want to spend beforehand and give the designer a budget to work to. But how do we go about discussing budget?

[24:48] Finally Kevin leaves us with some closing thoughts on design. To see more of Sawyers Design, check out their recently updated website: sawyersdesign.com.

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[00:21] Walt Baczkowski has an impressive background, including being the recipient of the SFAR’s prestigious William Magel Award, recognizing a lifetime of outstanding leadership and contributions to the real estate industry. We are very excited to have him here today!

[01:06] Having lived so many different places before coming to San Francisco Walt shares the most unexpected thing he encountered about SF and talks about some of his favorite neighborhoods.

[04:15] There are a lot of interesting individuals in SF but Walt shares why Mayor Ed Lee was one of the most interesting people he met and spent time with.

[05:48] Arguably, there are many areas of real estate in SF that could benefit from law changes. Walt believes that the area in most desperate need of a total revamp, however is the planning process.

[07:45] What, exactly, does an association do?

[09:30] Peskin's proposed legislation to penalize and prevent homeowners who want to remodel or repair their home comes up....

[14:23] Walt's dad was an Association Executive for a Realtor association, and real estate has been a part of Walt’s life as far as he can remember. In fact, in the 104 years that the National Association of Realtors has been around, a Baczkowski has run a local board for 54 of those years! So... how has real estate changed over the years?

[18:37] We already mentioned the William Magel Award Walt received in the 2018; and this is just one of the numerous honors he has received over the years. Walt has a well deserved reputation for being a visionary and leader in the industry. We discuss some things he has worked on over the years and where he believes things are going in the future.

Listen for the details, but Walt makes a convincing case for industry changes driven by consumer demand for speed, convenience and choice; companies will need to look at how they can provide that to clients to be successful.

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[00:21] Fireball Approves is a company that helps protect people from getting scammed. Tammy explains how she developed the company because she wished she had access to this type of service when searching for a short-term vacation rental online.

[07:21] Does California have public records readily available for people to access? Tammy also poses an interesting question: say your home has been fraudulently rented out while you were away, how hard is it to get it sorted out?

[11:11] Online scams are not only fairly low risk crimes with a high payout for the scammers and they are so rarely reported.

[14:56] If you are a potentially looking at renting property, Tammy recommends you do your due diligence. What does this mean? She shares a few helpful tips with us and shares what she does to help.

P.S. Tammy is also writing a blog on what people can do on their own and when to contact her on fireballapproves.com for assistance, so be sure to keep an eye out for that!

[17:16] A cool service Tammy has partnered with is a free Chrome extension called Cluck. What is Cluck and how is it different to others services like it on the market?

[21:18] The price of the rental ad verification is only $19 and Fireball also offers a listing of Fireball approved vacation rentals free to renters. How can owners of properties become gold, silver or bronze members on the approved rentals list?

[23:45] Why the name, Fireball Approves? While the rental market is the focus now, in the future Tammy plans to expand to other services including virtual job scams, for example.

[27:24] To find out more about her services find Tammy on the fireballapproves.com website or any social media including Facebook, Twitter, Instagram, LinkedIn. Also, don’t forget to share this information with others as she relies on word of mouth to get the word out.

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[00:21] Last year David Milne, a home inspector from Arch Inspections, joined us for episodes 46, 47 and 48 where he shared some interesting things that can happen during a home inspection (we highly recommend you catch up on those if you haven't already). One of our favorite stories involves a condo building that was a former hospital and is also featured in the movie Vertigo.

[05:41] When we offer a list of inspectors to buyers it is not because we get a kickback, so then why? Because we know that they are respected, well known, vetted, solid inspectors that do a go job and give an honest thorough opinion of the property. Not all inspectors know what they are doing; Britton shares a story to illustrate this point. Matt's bonus tangent: what is appropriate Realtor involvement during inspections?

[11:43] Sometimes home inspectors fail to pick up on certain things, which are understandable, but other times major fails happen that are unacceptable. Wrong address, talking about non-existent materials, confusing vinyl with wood and other glaring mistakes don't leave us with much confidence in the inspector!

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[00:21] Sometimes unexpected things can come up when we dig into the history of the property; some not very pleasant. One of the things people might consider looking up is the California Megan's Law Database. But what is Megan’s Law and why might it be of interest to me?

[04:01] A normal real estate transaction is a pretty standard process: an offer is made, it is accepted, there is escrow, some signing of paperwork, the rest of the cash is transferred, seller sends their docs, there’s closing and finally they get the cash and you get the house. Unless…. The seller freaks out and refuses to leave after the transaction has closed.

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[00:21] How quickly can Britton figure out the neighborhood in question while Matt reads out descriptive sentences?

We cover: Lake Street, Nob Hill, Western Addition, Clarendon Heights, Alamo Square, Twin Peaks, Anza Vista, Hayes Valley, North Panhandle, Dolores Heights, The Mission, Dogpatch, SoMa, Westwood Highlands, Miraloma, Forest Hill - throwing in some interesting facts and musings along the way.

[07:49] How do freeways affect neighbourhoods? As the city evolves, old freeways are torn down and new ones are built up, but do they always make sense within a neighborhood?

[14:39] The gentrification issue is a contentious one and raises an interesting question: Who does a neighborhood belong to?

[22:22] There are a number of transformations planned for the city over the coming years – it will be interesting to see how these changes will further impact the city and its neighborhoods.

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[00:21] Matt and Britton share stories of growing up; Matt was a suburban kid who later moved to rural Michigan and Britton remembers living in Anchorage, Alaska in a brand-new subdivision as a five-year-old.

[02:58] People often yearn to find the balance between living with nature in the great wilderness and the convenience of urban city living. Is suburbia a good enough compromise to make? The west side of San Francisco has great examples of suburbia residence parks where the aim was to bring more nature into neighborhoods.

[05:31] What makes a neighborhood? In some cases, it is geography and sometimes it’s the era of construction. We argue SF condo buildings can also be a neighborhood within a neighborhood e.g. The Watermark.

How small can a neighborhood be and still be considered a neighborhood?

[11:55] The San Francisco Planning Department states eight things on their website that define a neighborhood: 1. Walk to shops 2. Safe streets 3. Get around easily. 4. Housing choices 5. Gathering places 6. City services 7. Special character 8. A part of the whole.

How many neighborhoods does San Francisco have? SFAR says 89, wikipedia says a lot more... Not everyone agrees on this point!

Thank you for listening. If you enjoyed this episode leave us a review on your favorite platform, tell your friends and don’t forget to join us again next week!

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[00:21] There are a few urban legends that explain why very few houses listed for sale in San Francisco are on lockbox, but Matt has his own theory. Much more common are open home viewings on Sundays or scheduled appointments during the week.

[04:06] Unlike other parts of the country, in San Francisco, weekend open houses are paramount. How does this work for tenant occupied properties?

[06:45] We wrap up today with Britton sharing a story about seeing houses!

For more on private showings and lockboxes listen to our previous episodes: Sketchy Showings and Is Anyone Home?

Thank you for listening.

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[00:21] We begin today by walking you through what happens after you’ve submitted an offer on a house and it has been accepted. Where is the initial deposit going, how do you make the transfer and why is the standard amount in San Francisco 3% of the purchase price? Britton also explains why a personal check is accepted for the first deposit but not the final deposit.

Always remember to be vigilant and take steps to prevent wire fraud! We talk more about that in Episode 40: (Online) Safety First.

[03:47] After making the initial deposit and going through escrow it’s time for signing the closing documents. What does this mean and what if you have to sell stocks or take other steps to turn your down payment into cash that you can transfer?

Thank you for listening. If you enjoyed this episode leave us a review on your favorite platform, tell your friends and don’t forget to join us again next week!

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[00:21] Before the taxpayer rebellion in 1978, that led to a change in proposition 13, looking at how properties were assessed in California, the county would asses property value and tax accordingly. Since the change in proposition 13, however, property taxes are capped at 1% of the purchase price of the property. Are there any other additions to this we should be aware of and do we still need to be worried about any increases in property value the next year?

We break it down by looking at an example.

[06:29] So, this probably sounds like a pretty good thing in the current market, with increasing property values, but what happens in a downturn?

Britton points out that another important aspect to be aware of is that the tax assessor’s office is in touch with the department of building inspections. What does this mean exactly? Well, they will be aware of any permits for improvements/expansions on the home and can therefore choose to re-asses in certain cases.

[08:55] When and how are the property taxes paid? Bills come out in October and can be paid in two instalments; 1st due Nov 1, delinquent. Dec 10.and the 2nd due Feb 1, delinquent April 10. There are also numerous payment options including, check by mail, online payments, or at the assessor’s office. But what happens if a tax payment is due while you are in escrow and what purchase price is used in this scenario?

[13:43] To wrap up, we talk about new construction, what can happen when the assessor’s office significantly drags behind in keeping records up to date and what the penalty is on not paying your taxes on time!

Thank you for listening. If you enjoyed this episode leave us a review on your favourite platform, tell your friends and don’t forget to join us again next week!

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[00:21] You may be wondering, what all these open home signs on Tuesdays are all about? Tuesday broker’s tour is on! A broker’s tour is an opportunity for agents to tour new listings so that they can tell clients about them. It is also a great opportunity to catch up with other agents and keep a pulse on the market. So why was Matt terrified of them when first starting out?

[03:28] There’s some interesting stuff that goes on during a broker’s tour. There was a case of the disappearing Prada shoes, a run-in with some armed guards, as well as the occasional signing of a release of liability form. What’s more, sometimes there is soup!

[09:24] San Francisco is a busy city and all the cars and parking on broker’s tour can be a test of patience on the nearby residents. Matt considers attempting the tour on a bicycle and shares advice on how to deal with an irate homeowner whose parking you might have blocked.

[11:57] Another exciting thing that can happen on these tours is a celebrity drop-in; Britton talks Joe Montana sightings and whether the regular buyers are welcome at the broker’s tours?

Thank you for listening. If you enjoyed this episode leave us a review on your favourite platform, tell your friends and don’t forget to join us again next week!

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Today on Escrow Out Loud, our San Francisco Real Estate podcast, we talk about one of the most important, and at the same time least understood, concepts in real estate – agency relationships.

[01:17] Let's start off by looking at real estate agency – what an agent does and what our fiduciary duties entail. Loyalty, confidentiality and the exercise of the utmost care are just a few of our duties to our clients, what are some others?

[02:15] Now that we know what an agent does, let’s talk about who they do it for. There are three types of agency relationships in California, but keep in mind that this does differ by state. Important disclaimer: we are not lawyers and don’t offer legal advice. Britton gives an overview of types of agencies in California: buyer agency, seller agency, and dual agency.

[03:49] People often think dual-agency means that both the buyer and the seller must be working with the same individual i.e., the same exact person with the same exact face! Britton and Matt myth-bust this assumption for us! They explain that the fiduciary relationship goes a level higher than that; the agency relationship is not with an individual agent, it is with the brokerage that holds the license for that agent.

A real-world example: if two different real estate agents from the same brokerage are involved, one representing the seller and the other the buyer, the relationship is dual-agency, and it is at the brokerage level. When a single individual is representing both sides of the transaction it is a specific type of dual-agency.

[06:22] While we are on the subject of agency relationships we explain the three steps in an agency relationship in California; disclosure, election and confirmation. How will the confirmation step change in the new revision of the purchase contract coming up in 2019? Also, what is an implied agency?

[11:34] Finally, how important is it to engage with an agent in the process of buying a house, or should you try and go about it yourself? We explain why it makes sense to put your team together first and what a dual agency can offer.

[15:23] Matt and Britton take us back to a time and share their own experiences in buying their first houses! Back then listings were sent through to them using something called a fax machine.

Thank you for listening. If you enjoyed this episode leave us a review on your favorite platform, tell your friends and don’t forget to join us again next time!

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[02:43] We start off with a minor caveat and launch into the new AB 1289 terminology which comes into effect on January 1, 2019.

[03:29] Questions we cover: The person buying the property? The person selling the property? Goodbye to the transferee and the transferor! Information that relates to the client representation?

[05:12] Quick tangent: An example of a change to the dual agency part of what is considered confidential information that happens when this law is updated.

Among other things, with these changes coming into effect, we can no longer disclose the seller’s motivation for selling, which is one of the commonly asked questions and not relevant to the value of the property.

[09:48] Back to the questions: A personal representative acting to sell a property on behalf of a dead person? A person designated to manage assets in a trust? Which one these is generally exempt from completing the transfer disclosure statement? Bonus question: Why does this make sense?

[12:27] The agent that represents the buyer? This was previously confusing terminology, so, we are particularly excited about this one!

Final question: The number of days in which a buyer who receives a revised transfer disclosure statement has, to cancel the contract?

Thank you for listening. If you enjoyed this episode leave us a review on your favourite platform, tell your friends and don’t forget to join us again next week!

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[00:21] It has been a year since Jackson Fuller Real Estate became an independent brokerage. In that time there have been a lot of shifts (Compass is making a significant impact!) in the San Francisco brokerage community, but we can honestly say that we have had a phenomenal year!

[04:47] Most people appreciate that real estate is a business very focused on relationships; or if it isn’t, it should be. Trust and connections with clients are more important than the name of the company on the business card.

[05:59] What do we wish we knew before we first started? We spent a good amount of time thinking and planning before we started the Jackson Fuller brokerage and even though loyalty made the change bitter sweet, it was the logical next step.

[08:47] Real estate agents are paranoid optimists; agents always have concerns about looming threats to their existence all the while believing that everything will turn out for the best. So, what did we think we could offer by starting our own brokerage? We have more flexibility to do things our way, setting our own rules in what we can offer to our client.

[11:47] Matt finishes this week’s episode with a quick rant about printers and we look at what comes next for our brokerage.

Thank you for listening. If you enjoyed this episode leave us a review on your favourite platform, tell your friends and don’t forget to join us again next week!

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[00:21] San Francisco is an expensive city, it’s true. Even if you make a great salary, that doesn't guarantee you'll be able to buy a home. San Francisco isn't also just a town for the extremely wealthy. We have worked with people from all walks of life who figured out a way to get in to the San Francisco real estate market. From creative types such as writers and surf board makers, to medical professionals and lawyers, to tech people and entrepreneurs as well as teachers, accountants, electricians and a variety of other professions.

[06:15] Previous generations would often buy a house they would live in for the rest of their life. Today, in San Francisco especially, people buy a house that they can afford to live in and that suits their needs today. If they are able to afford more that they can "grow" into, that's great - but it may not necessarily make sense to wait. This is actually good advice for buying a property in San Francisco. Rather than waiting for an ideal house, something that works for your current situation may make it easier to make a switch later when opportunity and need arises.

Thank you for listening. If you enjoyed this episode leave us a review on your favorite platform, tell your friends and don’t forget to join us again next week!

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[00:58] Now, you may ask yourself (like we did): “What could be difficult about figuring this out?” and - as we said - we thought that this sounds like a fairly straightforward number to determine. However, depending on which source you use, the number varies from about 950 properties at the very low end, to 1981 properties at the other end of the scale, with a lot of different numbers in between.

[04:02] Why are we seeing such a large variation in the number of homes for sale that are being reported? There are a number of factors that appear to be skewing the results we are seeing. What are the things to consider when looking at stats about how many homes are currently on the market? There are at least six different factors that account for the huge variation in results: 1. Sources; 2. Off-line property market; 3. Property status; 4. Property types; 5. Statistical smoothing; and 6. New construction.

[14:58] As it is probably abundantly clear by this point, finding the exact number can be a challenge. When you hear a SF real estate statistic, be sure you understand where it is coming from and what the limitations might be. Or, just listen to another Question that Answer episode. Or simply get in touch to see if we can help!

Thank you for listening. If you enjoyed this episode please leave us a review on your favorite platform, tell your friends and don’t forget to join us again next week!

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[00:21] Picking up where we left off in Episode 53 with items that are found on a title report, Britton begins with another example of a defect in title insurance: a mechanic's lien. Britton introduces the idea of a mechanic's lien and gives a theoretical example of how this might come about. A preliminary title report is designed and supposed to show everything that is recorded in the legal public record against the property. Things that may be recorded in the public record are items like a mechanic's lien, existing owner's tax bill and/or mortgages, unpaid utility bills for utilities like garbage or water, CC&Rs for a condo, to give a few examples. These things are typically called exceptions - think of them like pre-existing conditions for health insurance.

[03:37] After the title company removes the "defects" and you are delivered "clean" title, title insurance policies are designed to protect you from things like an unknown mechanic's lien. One way that title insurance is different than most insurance policies is that you pay for it once and the policy lasts for as long as you own the home and/or mortgage.

[05:45] But... is everything about title insurance policies quite as magical as it seems? The flip side of title insurance companies is that they are, in fact, still insurance companies and act as you’d expect an insurance company to behave. Profit is made when revenue exceeds claims...

[08:32] Which leads to a question we get, do you really need title insurance? Lots of people have different feelings about this one, but unless you are a cash buyer your lender will answer the question for you: you will be getting title insurance.

[12:02] Finally, in residential real estate who traditionally pays for title insurance in San Francisco and how much does it cost?

Thank you for joining us. We hope you enjoyed tuning in and join us again next week for another episode!

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[00:45] There's been chatter in the San Francisco property market about properties not receiving offers and price reductions returning to the marketplace. Does this mean that there is a market shift looming? Are these stories and anecdotes, or leading indicators of a looming market shift? We try and take some real estate market statistics from the San Francisco multiple listing service (MLS) to see if they might shed some light on the situation; is there really a market shift, or is all still noise?

[03:51] Real Estate valuation can be elusively complicated even though it seems simple. It can often include both the hard analysis of statistics as well as the more subjective personal factors that matter when people buy homes. Sample size is also an essential factor, and SF is a (relatively) small market. Most of the statistics that are reported in the media cover the entire bay area (7 or 9 county region, much more area than just SF) and aren't representative of SF in particular. It can be downright impossible to determine the health of the San Francisco real estate market using just those articles.

[07:18] If you want an accurate picture of what's happening in the market make sure you are looking at SF specifically. But, then the situation will also vary depending on a specific neighborhood as well as property type.

[09:00] The interest rates are rising, and we are seeing things are taking a little longer to happen; is this a blip or are things about to fall? We discuss the last time there was a downturn.

[11:06] It is no secret that in the previous few years it has been a rough market for buyers. Currently, the prices aren't falling, but things are taking longer. We share why buyers shouldn't get scared off by this and why it might actually be a good time for them.

[13:37] So, let's look at some stats. Regarding quantity (year-to-date) re-sales are up, pending sales are up overall, sold listings are up overall and active listings are up.

[16:06] Price year-to-date figures show that the sales price for the overall market is up 8% (single families up 17% and condos up 6%). Properties sold over the listing price are also up 4%; so far 81% of single family homes and 61% of condos sold over listing price this year! We also discuss list price received and price per square foot.

[19:30] Finally, we wrap up today by looking at metrics about time on market and months supply of inventory. Are we currently in a balanced market? We look forward to hearing your thoughts in the comments or via social!

Thank you for joining us. We hope you enjoyed tuning in and join us again next week for another episode!

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[00:54] With the Jargon Jeopardy episode being one of our most popular episodes, and us not wanting to get a letter from anyone's attorney for using a trademarked term, Matt was inspired to come up with a new name for our most popular game show that's a lot like that one with Alex. Question That Answer seemed like a great description because, as we chat about, it is how we help our clients.

[02:35] We also believe it is not only important to get answers, it is also important to understand them. This is where Britton's experience as a high-school teacher (or is it her past life as a private investigator?) comes very useful!

[04:07] Introducing our next topic of escrow and title insurance with the Inaugural round of Question That Answer. Some Questions we cover are: Title Insurance, Title Insurance Companies, Escrow. As a side note - how Escrow is handled in California may vary from your state, and this show is for entertainment purposes!

[08:32] So, how many title insurance policies do we need? Do you have to have it if you are paying cash? What if we’re paying cash and don’t want a title insurance policy? What about if we are not using cash and are getting a loan from a bank instead?

[10:23] Britton explains the difference between the lenders policy and the owner’s policy of title insurance. We’ve been talking about defects, liens, encumbrance and easements but what do these all mean and what are some examples? Britton shares the story of a San Francisco story (perhaps a true story) about a Glen Park home with a major easement for a utility company....

Thank you for joining us for part 1 of this episode. We hope you enjoyed tuning in and don’t forget to join us again next week for part 2!

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Verbal offers, llama trainers, no paperwork...today we talk about an American reality TV show called House Hunters. American reality TV is pretty realistic in terms of portraying real-world experiences, right? We discuss...

[01:20] The premise of House Hunters US (there is also House Hunters International) is that there is a couple (or sometimes just a single) who are looking for a new place to live. Interestingly though, but not overly surprising given this is a realty show, the couple almost never want the same thing.

[03:15] The budgets on the show vary and a lot of the times the city they are in remains a mystery to the viewer. The budget is also typically presented as a source of contention between the couple. In our experience this does not happen very often. More often than not couples tend to agree on the amount they wish to spend.

[06:38] Is the exterior of a home important to you when deciding on a property? On the show this seems to be a very important element in making the final decision on a property. Which reminds of us an earlier podcast, Avocado Green Appliances and Faux Brick where we talked with Kevin from Sawyers Design and his take on viewing a property from the exterior.

[09:18] The couple is always shown three different properties and then they pick one. Only three properties? Hmm this seems unlikely to us. Britton may know the realty behind this reality TV set-up.

[12:47] To wrap up, we don’t recommend that you form your expectations of buying property based on what you see on the show. The process is fairly unrealistic, especially when compared to our experiences with the market in San Francisco.

Thank you for joining us for this week’s episode. We hope you enjoyed tuning in and join us again next week!

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[00:29] Britton is really, really good at Scrabble, but that is not what we are playing today. Today we are playing Jargon Jeopardy!

[02:31] “What is Jargon Jeopardy?”, you may ask. Well, follow along as we play and explain commonly used real estate acronyms.

A few highlights:

SFAR/MSI/PMI/CCR/HOA (Angry Dogs in Elevators and Overweight Chihuahuas)/CID/PUD/HO6/CRS/GRI/CFC/RRR/LOI/LTV/BMR...

Phew! We have a lot of jargon in real estate. And this was just a small sample!

[12:45] Finally, Matt and Britton debate the true meaning of LOL.

Thank you for joining us for this week’s episode. We hope you enjoyed tuning in and join us again next week!

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[00:21] Price per square foot (PPSF or $/SF) is a useful metric for pricing consideration and analysis. But where does the number come from? In San Francisco, MLS listings often contain a square footage measurement that allows us to calculate price per square foot. However, MLS sources for square footage come from a variety of sources, and there are no "square footage police" who verify, regulate, or monitor the reporting of square footage.

Finally, we talk about some property types where price per square foot may be a more useful or accurate measurement than in other areas. In a nutshell, price per square foot is most useful where there is homogenous housing.

[05:38] Another challenge in measuring square footage in existing as-built neighborhoods is the ‘bonus space’ a.k.a “This room was probably built without a permit space”. Given that bonus rooms are typically built without benefit of permits, appraisers don’t value these spaces at the same value (price per square foot) as warranted space within a home.

[07:41] When it comes to information on square footage, it is not only the different sources but also the different methods used to measure the footage that result in inconsistencies. Interior only? Walls? Stairs? Bonus space?

[10:36] Finally, a sales price consists of both market value and personal value. In any given sale, how do we know if the sales price is reflective of actual value or if the price was influenced by a personal factor?

Price per square foot is a great place to start a conversation or exploration of value, but because of the way numbers are measured and reported in San Francisco, it isn’t necessarily a 100% accurate data point.

Thank you for joining us for this week’s episode. We hope you enjoyed tuning in and join us again next week!

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[00:21] We start by talking about the typical summer dip in real estate inventory for San Francisco as sellers wait out the summer fog and buyers seek warmer weather and cooler markets. Real Estate blogs typically share bleak outlooks, and is that what is really going on out there and what has been our personal experience during this time?

[04:34] What do the market stats for July mean then? Trend or blip? While the San Francisco real estate market can turn on a dime, it doesn’t feel like that is what’s happening. Interest rates have not gone up enough to drive off buyers, so the slow down really seems like our typical summer slowdown. Also, meet the woo woo.

[05:38] What does appear unchanged in SF is that property prices are as unaffordable as ever. The median price for a single-family house in SF is approaching 1.7 million; there are still condos and houses in certain areas that go for far less than 1.6 million but all homes are now expensive. We repeat what have been saying for a while now, we need more housing!

[07:41] Is this the new normal? Could San Francisco infrastructure support a large influx of people? Some folks feel there is a valid argument that says, even if we build more housing, the city can’t absorb any more people without improvements to transit and other systems.

[11:13] And... back to July market stats! To wrap up, the month supply of inventory is still very tight, under two months, for both condos and single families. Luckily, in September and October we experience the second of our yearly bumps in inventory that may ease some of that pressure.

Thank you for joining us for this week’s episode. We hope you enjoyed tuning in and join us again next week!

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[00:21] Buyers will commonly do their homework before the home inspection. This allows them to come prepared with questions. A home inspection however, will offer a different perspective and guidance, so buyers don’t have to worry about missing important details.

[01:24] We talk water! The most worrisome issues are usually somehow water related. David explains that we have to address water issues such as with dealing with rain, considering drainage and subterranean water.

[05:03] Each inspector has their own particular style. David explains how he tries to put things in perspective and get everyone engaged. How does he ensure that he is being fair to all parties involved while being realistic about the condition of the property?

[09:13] Building contractors look at materials differently to most people. Paint is a great example of this; most of us look at paint from an aesthetic point of view, but for David paint is a vehicle for keeping water out.

[11:24] Most of us will have our Spidey senses kick in as we clock-on to a certain vibe when stepping inside a property. David shares some tell-tale signs that there is something more going on that alert him to look closer. Open windows, candles and dehumidifiers are some great examples.

[14:31] Why are there no plastic pipes in San Francisco? In David’s experience logic does not always apply.

[17:54] To wrap up, David shares one way of looking at buying homes in San Francisco. With an old city such as this, when you are buying a house you are buying a piece of history.

Thank you for joining us for this week’s episode. We hope you enjoyed tuning in and join us again next week!

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[00:21] A common buyer question is: Should I do an inspection on brand new construction or on the re-sale of a new construction home? What often stands out on this type of property is things go wrong during a remodel. We also talk about what a tank inspection is, other changes that have occurred over the decades, and various other inspections he's often asked about.

[04:50] What are some unusual things one can came across as a building inspector?

[06:01] David likes for people to understand what to expect in terms of the local environment and how that affects building construction. While old construction often had the same construction standards across the country, for new construction this can vary. Amazing fact: Before about 1900 it was not uncommon for homes to be originally built without a foundation!

[09:16] Because the difference between how new and old may be built, David explains how he makes sure he's seeing what he's looking at. Which requires switching his thinking caps through out the day depending on what he is looking at. What is quite helpful for him are his years of experience in the city of San Francisco and knowledge of its history.

[10:55] In terms of favorite neighborhoods, the avenues can make for a straightforward day on the job... Finally, David shares an unfortunate example where an artistic hobby can potentially turn into a hazardous situation...

Thank you for joining us for this week’s episode. We hope you enjoyed tuning in and join us again next week for the final part of our interview with David.

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For most buyers, without previous experience in construction, knowing what to look out for when buying a property can be quite daunting. This week on Escrow Out Loud, our San Francisco Real Estate podcast, we talk to David Milne from Arch Home Inspections about the importance of home inspection.

[01:32] Why is it important for everyone to have a home inspection when buying a property? What it really comes down to is gathering information on the condition of the property, so that you can make the best decision going in. David explains there are normally two reports; one is a termite/pest inspection and the other is a contractor report which David would provide. A typical contractor's home inspection report includes everything from the foundations, exterior covering, roof condition, drainage conditions, water, the three utilities, water heater and heat system as well as looking for any alarm bells inside the building. Because a home inspection isn't really designed to cover appliances, David recommends people also consider a home warranty.

[05:17] The pest control inspectors are governed by a board that oversees them but in California there is no licensing for home inspection. What they do have is organizations such as ASHI and CREIA that provide governing standards to follow. What does home code compliance actually mean and how does it change over time?

[09:58] Since home inspectors are not regulated we should consider what the inspector's background is when choosing a good one. In David’s case experience in construction and working as a high-end trim installer made him an ideal fit for a career in home inspection.

[12:15] The process of home inspection can be an emotional and stressful process for everyone involved. For David his favorite inspectins are when dealing with first time buyers. He shares his favorite stories and explains how his approach is to reassure and relax them.

[14:14] Whether he is working with sellers, agents or buyers, David always aims to tell it as it is, without embellishing or leaning towards either side. A part of his job is to deal with objections and the best way he found to deal with this aspect of his job is to keep an open dialogue with people. He recommends that people talk to different contractors if they are not satisfied with the advice they are getting. A good rule of thumb to follow is that if you are hearing similar advice from different people, you are on the right track.

[19:55] Property prices keep climbing in San Francisco and have come a long way in recent years. This means that, proportionally, the major systems and structures cost less to fix now days. Changing the foundation now costs just 5% of the purchase price and is not as relatively daunting.

[22:02] Before beginning his inspection, David likes to ask people what their plans for the property are and advise them accordingly. Most of San Francisco is old and built with old redwood which is great quality. How is the newer construction different? Finally, what to do with old foundations and why it is a good idea to bundle your projects to get the best bang for your buck!

Thank you for joining us for this week’s episode. We hope you enjoyed tuning in and join us again next week for part two of our interview with David!

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[02:51] Featuring smaller units at lower, more attainable prices, the Stage building was designed with younger, first-time home buyers in mind. It is located in an area of San Francisco called the mid-market which is changing rapidly. The five-star Proper Hotel, and its rooftop bar, Charmaine, happens to be right across the street from the Stage building, and then there is the development of the Yotel Hotel, a number of new apartment buildings, and the new Wholefoods store which are just some examples of the revitalisation currently happening in the neighbourhood.

[07:58] We know that, with increasing gentrification, people on the margins of society get pushed out. The good news is that the city has recognized this problem and has been working with various non-governmental agencies on new affordable housing, to deal with this issue. Mercy Housing is building new studio units for 256 formerly homeless people behind Stage 1027.

[09:46] How does the market rate population feel about that? A majority of people interested in this area recognize and embrace the blend of economics that comes from living in a diverse city neighborhood. With a majority of people being first home buyers, this feels more like a solution to the housing problem in San Francisco. What else is planned for this location?

[16:09] What do we mean by small and affordable? Some ballpark figures for smaller one-bedrooms range in the 500-550sq feet at around 700,000 or the premium one-bedrooms at 650-700sq feet ranging around 800,000. While this might seem small to some people, its good to keep in mind that life in San Francisco revolves around city experiences and getting outside for entertainment. What’s more, their practical urban location means everything you need is at a walking distance and the subway is also just half a block away! (listen to our Late-Adjacent neighborhoods episode for more on how to choose the right location)

Thank you for joining us for this week’s episode. We hope you enjoyed tuning in and join us again next week for more San Francisco real estate stories!

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[00:21] CAR is a state-wide trade organization for organized real estate with more than 195,000 members and Leslie’s role involves directing the activities of the Association's Member Information Team. Her impressive list of responsibilities also includes overseeing analysis of the housing market and brokerage industry trends, close involvement in the Association’s strategic planning as well as leading the Woman Up Initiative.

[01:42] What is the job of Chief Economist? Economics is only part of what her job entails. Monitoring trends and looking at data on median house prices and sales activity is another part. On the CAR website there are dashboards that enable people to pull up information for localized areas by entering a zip codes or a city.

[05:32] How did Leslie come to work at the CAR? We get a little insight into her background.

[07:16] Leslie has invaluable experience gained during her years working in the male dominated field in the 80’s which were formative in helping her establish her career. She formed Woman Up as an opportunity to give back and offer support to other incredible women in the industry. Leslie’s advice is to say yes when offered opportunities! Do not fear you are not ready because we all tend to figure it out as we go.

[13:30] While she is sharing data on what is going on in the housingmarket Leslie generally also offers some great insights into what it is that is driving those numbers. So, what does she think the biggest trends are that are impacting California’s housing? The biggest factor that dictates where the market is heading is the inventory. The housing supply in California is currently lacking, partly due to a lack of new construction and partly because of a demographic shift. Boomers are not moving out of their homes as often and there are a few transactions.

[17:27] If there is a lack of homes on the market why are we not building more? There are solutions but generally people are against these options, due to the lack of infrastructure to support such growth. As a result, working class families and millennials are moving out and moving to areas where there is more development, cheap retirement options and/or strong job markets eg. Texas, Oregon, Washington, Arizona and Nevada. For people choosing to stay in California, they need to re-evaluate what the American dream of home ownership will look like.

[24:06] How has Leslie’s job changed since she started in the 80’s? The internet and access to information has changed some aspects but the one thing that has never changed is the importance of communication.

[28:30] The Bay area, characterized by Leslie as a "petri dish", is an interesting location to keep an eye on as it is experiencing job growth, household growth and income growth but no housing growth. What will the implications of that look like?

[30:45] Matt wraps up with a quick story about being new to real estate and hearing Leslie speak.

Thank you for joining us for this week’s episode. We hope you enjoyed tuning in and join us again next week for more San Francisco real estate stories!

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[00:50] How long did the whole process take from the start to getting the site permit? The permitting process itself took two and a half years, which was quite a bit longer than expected. There was an unanticipated issue with variance. Because the house is sitting far back on the property they had to go through the variance process in addition to the regular permitting process.

[04:54] In the competitive San Francisco house market part of buying a property involves doing, what Pete calls, a sort of a courtship dance. Good relationships can help with a positive outcome, but still, at the end of the day it’s the numbers that do most of the talking.

[06:43] From a seller’s perspective staging of homes creates an impact and shows the property in the best light. While generally staging a property means neutralising it to appeal to a wider audience, in today’s market highlighting the property’s personality and using a bolder style when staging a home is more commonly seen in certain parts of San Francisco.

[09:53] When Kevin and Pete decided it was great time to sell their previous property, it wasn’t only due to the market blowing up, although this was an added bonus. A number of other factors fell into place. From a personal perspective they were looking to move on; they were both looking for a single-family home and Kevin was looking for a new project. A single-family home is quieter and offers more privacy. BUT, San Francisco is still San Francisco! It’s never too quiet and neighbours are never too far away.

[15:10] Looking back would they go through all of it again? Undeniably they have learned a lot through the process, each lesson informing their next interaction. What are some great lessons learned? Tolerance, learning to relax and go with the process, and of course now they’ve learned to worry about a whole set of different things.

[15:57] Kevin started out by doing graphics and branding for interiors. He has done some really cool projects, we might have to bring him back to hear more about Sawyers design and environmental graphics and branding in San Francisco as well as interior design.

Thank you for joining us for this week’s episode. We hope you enjoyed tuning in and join us again next week for more San Francisco real estate stories!

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[00:21] As we mentioned last week, house hunting with Kevin and Pete is an enlightening experience, as each of them assesses a property from their own unique angle; Pete is an electrical engineer and focuses on wiring while Kevin has design background and focuses on the space and flow of the property, envisioning the redesign potential. Even the slightest tweaks to the layout can have a huge impact on the overall feel and function of the property. What are some examples of strange layouts we have seen?

[02:36] The planning process for a renovation project can be long and convoluted. The planning, zoning and building permit applications are supposed to be determined in a fair and objective process for everyone involved – in theory. In practice, what happens is people find ways to game the system. What’s more, there also seems to be a lot of room for interpretation when it comes to enforcing certain rules. What are some examples of this?

[06:49] One issue the city planning department is understandably concerned about is setting precedents that can later be exploited by other people. What about using the approach of ignoring all the rules, doing what you want and just paying the fine at the end?

[09:13] We talk do it yourself foundations. Brick vs concrete foundations and why it may be a good idea to get the foundation checked by a professional!

[13:29] Kevin and Pete’s original plans have changed significantly compared to what they finally ended up with, but Kevin explains this is a normal part of the process. A better sense of budget constraints and the neighborhood, as well as the planning process itself, all informed the final design. Once the planning signed off on Kevin and Pete’s plan and they got their site permit – which included working with the gabled roof design challenge – they could start construction of their modern house that was still in keeping with the feel of the neighborhood.

[15:30] Establishing good relationships with the neighbors in advance of starting construction was invaluable in terms of making the whole experience easier and making sure they were part of the close-knit neighborhood after construction is over. Kevin and Pete made sure to include their neighbors in the process and were respectful of their concerns. Not everyone prescribes to this approach, however. To wrap up today’s episode we share some less pleasant experiences we’ve had with disgruntled individuals.

Thank you for joining us for this week’s episode. We hope you enjoyed tuning in and join us again next week for part 3 of our interview with Kevin and Pete!

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[00:53] The very first purchase we worked on together with Kevin and Pete was many years ago, back in 2003. Kevin is an interior designer and has a great eye for looking at homes from a design perspective. What does he look for in a home? And what does having "good bones" mean in terms of houses?

[03:41] Upon first seeing their potential home Kevin was flooded with ideas of what he would love to do with it. Of course, these ideas evolve and grow when you live in a space. The first step was to remodel the kitchen and the bathroom.

[05:10] While Kevin is looking at homes with his designer eye, what is Pete doing?

[7:14] Kevin and Pete lived through both a condo conversion as well as an interior remodel. But the remodel was a somewhat more traumatic experience. One of the things they have learned is to ask a lot of questions! Britton and Pete trade contractor stories, and she shares why she chose the higher bid over all the others when she was doing her remodel and how a detailed bid meant coming in within 1-2% of the budget.

[10:28] Living in the property while it’s being remodeled is not a pleasant experience - just ask Britton, Kevin and Pete. If you can manage it, stay somewhere else. At least until you have running water in the house again. Another good piece of advice is to not put all your hopes and dreams into a property until you know you have it. The market can be competitive and sometimes disappointments happen. And sometimes missing out can be a blessing in disguise. TICs can get complicated quick. What are some things to be aware of when looking for TIC partners?

[17:23] Vague statements come true: Matt and Britton do have experiences and relationships which can be an advantage in the home buying process. Kevin and Pete do some reminiscing on opportunities lost and the good batting average they’ve had working with Matt and Britton.

Thank you for joining us for this week’s episode. We hope you enjoyed tuning in and join us again next week for part 2 of our interview with Kevin and Pete!

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[02:02] Bank robbing is risky and often not very lucrative, cybercrime on the other hand can not only be performed remotely but it typically also has a much larger payoff. With the huge figures attached to San Francisco real estate deals and money being wired from buyers to title companies to sellers, is it any wonder it has become an area of interest for sophisticated online scammers. Their goal is often to hack into the email accounts involved in the transaction. That’s a problem. Why? Because we can’t always tell if our e-mail (or anyone else's who’s involved) has been hacked!

[04:34] One way they can then get a hold of our money is by sending fake wiring instructions. Title companies, banks and other companies attacked have beefed up their security leaving brokerages and consumers as the weak point of entry. While there are benefits in terms of speed and convenience in dealing on-line, it comes with a drawback in terms of security.

[07:39] E-mail is a very insecure platform that shouldn’t be used for personal documents. If you are involved in real estate transactions, we recommend strengthening security on the account you will be using. This includes using two factor authentication on the said email account as well as using a different password for your email than you use for anything else. Because we are entrusted with a lot of sensitive information we take security very seriously. What are some precautions we take?

[11:50] What if you don’t want to use email but still want to be digital? There are some other options available. Slack, iMessage, WhatsApp, Skype are all widely available and encrypted end-to-end. Another thing you can do is make sure to call the escrow company to confirm wire instructions before sending or receiving a wire. Just make sure you don’t use the phone number given in the email instructions! Get it from a reliable source. We share some other things to look out for and Britton shares her personal experiences with wire transfer when she was purchasing her ‘real home’. (You can hear more about Britton’s real home in Episode 24: A Real Home)

[17:07] While you can wire safely if you take all the precautions, what if you don’t want to wire at all? Are there other options? Yep. You can use a cashier’s check. Now that we have scared everybody silly, we can wrap up today’s episode! If anybody has more questions don’t hesitate to e-mail us or download our pdf for more information. Stay safe everybody!

Thank you for joining us for this week’s episode. We hope you enjoyed tuning in and join us again next week for more San Francisco real estate stories!

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[01:15] Some think that a room needs to have a closet and a window, but what are the official requirements set by the city building code? We've seen a lot of interesting spaces being marketed as bedrooms, some of which may be considered "illegal". San Francisco has a rich architectural history and layouts have changed significantly over the years. How do Victorian layouts compare to today's ideas of what a bedroom is supposed to be? Listen to our Open Concept Thanksgiving! episode for more on this topic.

[06:08] So, if it's not a bedroom what is it? How do we define these extra spaces? The extra nooks and crannies are often marketed by developers as +1, but what does that really mean?

[09:06] To wrap up, we explain why we believe it's always better to under-promise and over-deliver.

Thank you for joining us for this week’s episode. We hope you enjoyed tuning in and join us again next week for more San Francisco real estate stories!

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[00:20] House prices continue their rise in 2018. The median sale price has doubled since 2013 and now sits at 1.61 million dollars. Doing the math, this means that in order to afford a mid-priced home in SF one needs to have a down-payment of 300k and an annual income of about $300,000. However. Let’s not forget that in the current market a 20% down payment regularly gets beat by much larger down payments or all cash offers. This is a difficult market for buyers. So difficult in fact, that we know at least one agent who currently only works with sellers.

[03:08] So, what is some advice we can share? Most importantly, be realistic, and do not engage in magical thinking! That reminds us of one of our previous episodes: Opportunity or Offal, Off-MLS Sales in San Francisco. Buying a home is a very personal, emotional journey. It is understandable for buyers to want to fall in love with, what will potentially become, their new home. But in this market, the competition is fierce and sometimes there will be disappointment. So, try not get too attached.

[06:26] With properties always selling for figures well above the asking price. What is the right way to price properties? If the advertised price is set artificially low, trying to guess what that real figure will be can be infuriating. We discuss the arguments for pricing realistically vs pricing for an assumed markup on the advertised price.

[10:30] This is one of the great things about being a team, where agents can have an honest conversation about listings and offer an additional perspective when trying to gauge property values. This brings us to our next point and this is one we have dedicated a previous podcast episode to: Agents Behaving Badly. With so many sellers leaving and there being a limited amount of business to go around at the moment, agents are perhaps engaging in behaviors they wouldn’t otherwise. An example of this are pre-emptive offers. Do we have to present all offers if get them? Find the answer to that question in Ep15: Discriminating Sellers: Sell Only to Short People or Offers Anytime? This also ties into the Agency Disclosure episode.

Thank you for joining us for this week’s episode. We hope you enjoyed tuning in and join us again next week for more San Francisco real estate stories!

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[00:20] What an eventful year it has been so far. We kick things off with Aaron Peskin, his recent criticism of the San Francisco’s Fire Department, and the role he played in getting London Breed deposed as the interim mayor.

[02:08] So who are the candidates for San Francisco mayor? There are eight in all, with the front-running four being: London Breed, Jane Kim, Mark Leno and Angela Alioto. Because most people in San Francisco fall somewhere on the progressive liberal political scale, identity politics often come into play during election time. But is this going to be the defining factor? The big question of the race is: Will identity politics win out over policy? According to the latest polls, the favorites to win are London Breed and Jane Kim. In the event of a close race, San Francisco uses a ranked choice voting; how does this work?

[08:26] Some of the big issues that people will be voting on are housing, municipal services and homelessness. It seems that being a ‘flaming lefty’ is the easy route to take in San Francisco, but is this approach the answer to everything? Britton explains what her reasons for supporting London Breed are, including the fact that she is smart, realistic and has the right motivations in undertaking such a challenging role. The increase in homelessness and a growing sense of disconnect in the community are just some of the changes we’ve seen in the city, so there is a lot on the plate for whoever takes up the position next.

Thank you for joining us for this week’s episode. We hope you enjoyed this episode and join us again next week for more San Francisco real estate stories!

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[00:20] Micki has had a lot of great real estate experiences over the years, but she does recall one occasion that was just awful. While trying to sell their house in Austin, Micki and her husband came across a snake oil salesman masquerading as a real estate agent. Having already singed a contract with a particular brokerage, the manager refused to let them out of their contract, but luckily, after voicing their complaints, they had a new agent assigned to them and she was brilliant – she managed to rebuild trust and humanized the whole experience. Is it a coincidence that she was previously a nurse?

[04:40] There are many different parts to a real estate process. Different agents can excel at different parts but the stand outs, they are good at most or all of it. It is also what makes Matt and Britton such a great team - they complement each other bringing their particular strength to the table.

[06:51] How has the real estate experience changed over the decades? We have come a long way in some ways. Did you know that not so long ago, the income of a female of a child-bearing age wasn’t taken into account for a mortgage application?

[08:37] Collecting rubber bands and porcelain animals! Britton had some interesting hobbies growing up, but what discouraged her from her childhood dream of becoming a veterinarian? To wrap it all up, Micki shares some personal stories about Britton.

Thank you for joining us for this week’s episode. We hope you enjoyed this interview and join us again next week for more San Francisco real estate stories!

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[01:02] We start the journey back at the beginning. The year was 1971 and, after looking at some options in San Francisco (SF) - their preferred location, Micki and her husband decided to venture out to Marin County where the housing was more affordable. They met a fantastic agent at an open house in Gough Street and he recommended another great agent who worked with them in Marin. However, after an exciting job opportunity beckoned Bill to Anchorage, Alaska, they decided to do the unthinkable and sell their house without an agent!

[04:34] With two full-price offers on the very first day, they had no trouble selling the house. In fact, they found the perfect buyers. Not only did they love the house, but they also bought their car and even adopted their cat, Sebastian – who would have hated Anchorage. What a great story! With things moving so quickly, Bill moved to Alaska ahead of the family and Micki entrusted him to find their next home with just these simple instructions: “You know what I don’t like”. Some years later, the family was on the move again, this time to Larchmont, New York. They spent many years here and Britton attended high school, grammar school and middle school in Larchmont. But soon enough another job offer called and Bill moved out to Austin ahead of Micki to look for their next home. He found a house according to the same instructions as he had previously.

[09:45] For most people, buying a house can be an overwhelming and somewhat scary experience. A great agent can make the whole process less stressful. What’s more, the best agents take interest in their clients as individuals and often friendships can develop. So how did Britton go from being a high school English teacher to a real estate agent and what role did Micki play in making that happen? Also, is it true that former teachers make the best real estate agents? Because the focus of a great realtor is to help people, the theory/philosophy that the best realtors come from helping professions such as teaching, and nursing makes a lot of sense.

[15:09] It is unsettling to see, that sometimes, as people get older and go through significant changes in their lives, it can leave them vulnerable to being taken advantage of. A trend we often see in SF is people downsizing and moving back to the city, looking for smaller homes with better access to amenities, most importantly because human interaction is so important at any age and it can rejuvenate people who were lonely and living alone once they are surrounded by people again.

Thank you for joining us for this week’s episode. We hope you enjoyed part one this interview and join us again next week for part two!

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[00:20] For sale by owner in Gallup, New Mexico! It took some time upon moving to Gallup to find the right property, but one day while out exploring, Mr. Fuller spotted a for sale sign. Like most of their properties, the house in Gallup underwent some renovations before it truly became a home. Fortuitously, due to a new high school being built, the area they purchased their property in became more desirable over the years. Coupled with the renovations they completed, it meant the Fullers were able to sell for a profit when they decided to move again, this time to Albuquerque.

[03:13] In Albuquerque, after an unpleasant experience with their first realtor, the Fullers reached out to Matt for some recommendations on finding a good one.

Polybutylene piping, home improvements, and refinancing options. What adventures did Albuquerque have in store for the Fullers? It is interesting to consider how much quicker a property appreciates in San Francisco (SF) nowadays, compared to some of the other areas of the US – it takes a month in SF rather than years or decades that it might take in areas where supply and demand is more balanced.

[07:57] We look back at how much things have changed in real estate over the years. As we have previously discussed (listen to the interview with Matt's Mum here), technology and the internet, in particular, changed certain aspects of the process. Everything happens a lot faster and in some cases with just a click of a button! Also, there was a positive change in the representation of the buyer’s interests. Realtors now have a duty to the buyer — ie., buyer agency vs. being a sub-agent of the seller.

[10:30] To wrap up, Mr. Fuller's points out how not all realtors seem to stay on top of all aspects of the process. It is rare to find a team, or person, who does it all and does it well. What was it like for Matt to make that leap from the corporate world to real estate 16 years ago?

Thank you for joining us for this week’s episode. We hope you enjoyed this interview and join us again next week when we chat with Britton’s mum!

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[01:28] The Fuller’s first home in Boise, Idaho was a great buy. Even though the turnaround between buying and selling their house there was unforeseeably quick, the profit they made from it really set them up down the line in terms of home ownership. The economic environment back then in the 70’s seemed to be more favorable for various programs that enabled buyers to come up with the funds for the down payment on a home, particularly for first-time buyers.

[06:35] Work relocation took the Fuller family to Denver. Upon arrival, they quickly found a real estate agent through Mr. Fuller's colleague and she helped them find their new home where they remained until leaving the state. While the house was busy appreciating, the family was knee-deep into soccer. There was a star player, a coach, a referee and a state board member – and Matt the not-soccer player! Over the years, the family remodeled the home and housing prices appreciated so by the time the Fuller’s sold their house and left Denver for Michigan, they were able to net a nice profit.

[10:48] What are the things home buyers need to consider when deciding on a property? Choosing the right neighbourhood is often just as important as choosing the right house and, in fact, the two often go hand in hand. Most people have a list of requirements for their ideal neighborhood. For a family like the Fullers, this included things like good schools, recreational facilities, and access to shopping.

[12:17] We finish up part one of this interview in Michigan. The cold weather? Bats in the attic? Michigan was quite a change for the Fuller family. While they ended up finding a really nice house with a beautiful backyard often visited by deer in all seasons and fireflies on warm summer nights, in hindsight Dad regrets what they paid for that property. The realtor they used was working strictly for the seller and the Fullers felt their interests were not the priority. Agency laws vary by state and have changed over time..?

[18:21] Before moving back to New Mexico, the Fullers moved once more, this time to a small town in Michigan, where they loved the Realtor and the commute, but beyond that…. scandalous! Join us again next week, for part two of the interview, when we pick up the Fullers' trail in Gallup, New Mexico!

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A house in Idaho, a house in Colorado, a house in Michigan, and a house in New Mexico! Matt’s parents', (the Fullers) home journey of the Wests: Northwest, Midwest, and Southwest. This week on Escrow Out Loud, our San Francisco Real Estate podcast, Matt interviews his mom about her real estate experiences from the first 1977 property purchase to the present home.

[00:21] The Fullers bought and sold their first house in Boise, Idaho all within a 4-month time period – AND netted a profit. The quick turn because of a work re-direction back to Denver.

[03:48] The Fullers arrived in Denver with a whole weekend to find and buy a home. Fortunately, a great real estate agent was connected via Matt's Dads work. In 1977, to get on the property ladder of home ownership, the Fuller’s needed a 20% down payment. While they had most of the money in savings, family helped a little too. Family gift money continues to be allowed within certain parameters today with required disclosures.

[07:50] Next stop: On the Midwest and home in Michigan! The Fullers found that the houses were often dark  and scoured for a property with numerous, large windows and lots of natural light. Light is only possible when it exists which it doesn't in the winter; the Fullers couldn’t wait to get out of Michigan. An opportunity to relocate to New Mexico was a quick decision to move toward the sun!

[13:54] Settling first in Gallup, New Mexico; a small, rural town surrounded by the Navajo and Zuni reservations. The reservations prevented expansion of the town creating a competitive real estate market. Once the next Fuller home was identified, it was a quick sale from the owner. For Sale By Owner (FSBO) was also the Fullers choice when their travels took them to Albuquerque. So, how did this process turn out?

[16:24] What are some of the things to look out for in a realtor. Matt’s mom shares some of the good and the bad experiences while Matt reveals what exactly ‘cute’ means in “realtor” talk.

[20:10] From the first purchase in the seventies to the latest one in the new millennium, how much have things changed over the years? The process of buying and selling a house remains fundamentally the same, however, real estate has evolved with the internet and modern connectivity. To wrap up, we share two perspectives on this, the buyer vs the realtor.

Thank you for joining us for this week’s episode. We hope you enjoyed it and join us again next week for more interesting stories!

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[01:34] Britton and Matt share stories of some of the more unpleasant things they have come across working in real estate. We hear about the time Britton showed a house that could have been a good set for the show “Hoarding: Buried Alive” and Matt’s experience seeing a home he wasn’t allowed to see!

[05:07] Occasionally, there were listings where you can only see the inside of the house once your offer is accepted, i.e., make your offer subject to inspections. This leads us to ponder a question. With marijuana now legal in California, how does it affect things? Will there be more grow houses in San Francisco, or fewer?

[05:57] Circling back we continue to share some more stories featuring cats, toilets in places they shouldn’t be, as well as indoor barbeques.

We hope you enjoyed this week’s episode and join us again next week for more interesting stories!

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[01:20] We discuss different pronunciations of Noe Valley, Gough, O'Shaughnessy, Phelan Avenue, Duboce, Bernal Heights, Marin County, San Rafael and more.

[6:09] Pronunciation of some street/place names in SF seems to be perpetually debated. So, what is the right way and who's in charge of pronunciation anyway?

We hope you'll enjoy this week's episode and join us again next week!

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This week on Escrow Out Loud, our San Francisco Real Estate podcast, we wrap-up our first podcast visit to the San Francisco home of our past clients, Josh and Carlos. If you missed the previous two episodes in this three-part visit and would like a little intro to our guests Josh and Carlos, please listen to episode 27 and episode 28. Otherwise, welcome back to the final episode of the house tour!

Misconceptions, Lessons Learned and Good Advice

[00:50] The biggest misconception about buying a San Francisco home is about the length of the home buying process itself. Josh and Carlos explain that, while the negotiation and the offer process itself was quick, they expected the overall process to be a lot quicker. So don’t schedule your holidays ahead! Another misconception is that you will only be dealing with professional individuals on the other side.

[7:50] Advice from the couple that made it through the house buying experience in San Francisco, successfully. To begin with, choose the right realtor team. The right agents will know the market, the neighbourhoods, other agents, and that makes all the difference. They can help guide you and provide invaluable advice making the whole process easier and a lot more enjoyable. Which leads us to the second great tip. You’ve probably heard this one before, but it holds true: know what you really want!

[14:28] Moving into a fixer upper was a fun experience. Carlos and Josh share some more fun stories and how the house inspired bursts of creativity, especially for Josh.

We hope you enjoyed these interviews and a huge thanks to Josh and Carlos for welcoming us into their beautiful San Francisco home!

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[00:46] We pick up the tour in the downstairs area, where Josh and Carlos did an incredible job tidying up the space for various creative endeavors. We also find out what happened to the little house that was outside on their deck… with a shoutout to local store Scrap.

[11:28] How do you make a room appear bigger? Get some scale sized furniture of course! Looking at some furniture around the room, Matt is reminded of a staging company that did this.

More Chandeliers!

[14:30] When they bought the house (REO) it didn’t come with any fixtures.  Josh, who is particularly fond of chandeliers, took advantage of this opportunity to put up as many of them as he wanted. Urban Ore in Berkeley became a great resource as they look for authentic or vintage finishings for their home. But how does he keep them sparkling? He has a system he shares with us.

[15:57] Buying and working on a fixer-upper can become a full-time hobby – especially when you do some of the work yourself. However, Josh and Carlos explain how it's also extremely rewarding seeing it all come together. We talk about, what can sometimes be, an overwhelming cost of some of the repair work and how they found a great painter who did an amazing paint job on the outside of the house (to the great approval of the neighbors, too!)

[17:27] Finally, we talk about what might have been. When house hunting, there are sometimes properties we love but miss out on for various reasons. One of the properties we reminisce about was the castle in the Bayview area with an exceptionally exceptional toilet, amongst many other exceptional features. Current city law requires water-saving toilets, which has us wondering about the exceptional toilet.. and Matt's memory is correct – the SF Water Dept. documentation includes the information about exempting toilets of historical significance.

Tune in next week for the final part of our interview!

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[00:33] When Josh and Carlos bought their house the property market in San Francisco was completely different than it is today – in fact, we were in the midst of a property downturn. Seven years later, we visit them at their place to see how they have settled in!

[01:47] We kick off part one of our three-part interview with Matt questioning the suitability of using the Comic Sans font on the first page of the REO addendum document. REO addendums are horrible things that haven't been a regular part of the SF market since the last down turn. What is it about that font that screams unprofessional? Everything!

[03:06] As we arrive at their San Francisco home we meet our client’s huuuuge, Scooby Doo-like dog and hear his story.

Fixer-upper

[08:34] Starting in the foyer, it is clear Josh and Carlos have done quite a bit of renovating since we last saw their place! What was once sad and neglected but a huge amount of space is now a beautifully updated, very functional, modern space.

[12:03] It is great to see how well they have settled into their new home, meeting their neighbors, and what it was like getting to know their new neighborhood.

[17:27] We talk about how different the market was back in 2011, but even then getting your first offer accepted was rare. Prices have sky-rocketed since then… Tune in next week for part two, where we learn some more fascinating things about their home and the remodel they did.

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And now, based on your requests, some time markers to help you find your favorite part of the episode quickly!

No Contingencies, Please!

[00:59] In San Francisco’s competitive property market there is usually no contingencies, so we don’t often see strange terms in contracts – the cleanest terms possible are typically your best bet in a competitive market! Price and terms are the two basic factors that affect how a seller will view an offer, and in a market with rising prices and multiple offers, how “clean” the terms are will often be one of the first items considered.

[01:51] Having said that, we do have some interesting stories to share of terms we have come across during our years in real estate. Would you agree to let the buyer sleep in the house before writing an offer? Clean the carpets two or three times? Make dinner for the seller after they move out?

[06:59] These types of requested terms might sound quirky and entertaining, and often they are easily handled in the context of one deal. However, when the contingencies included within one contract depend on the purchase or sale of another property, an issue with one escrow can have a serious cascading effect. We see this when the buyer’s offer on a property depends on a sale a property that the buyer currently owns. The Real Estate business can be very difficult at times, but from a project management software for creatives, it can be very easy if it is well organized.

Thank you for tuning in! We hope you join us again next week, when we will be welcoming our first podcast guests. Josh and Carlos take us on a tour of their home and talk about buying and owning in San Francisco.

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New Construction

New construction differs from resale transactions as most new construction is not in the MLS – which is not just a database of homes, it is also an offer of compensation. Britton explains more about how this works and how, in new construction sales, the agents often have to sign a commission agreement with the developer which outlines how they will be paid by the developer and typically states that they are not to share their commission with the buyer. In addition, there are a variety of laws that deal with issues such as: who can receive a commission, who can receive a commission that you need a licence for etc.

Outside Escrow

But let's talk about the commonly used, straight-up agreement between a developer and agent where part of the agreement is that no part of the commission received by the agent can go to the buyer. We discuss why this makes a lot of sense from a developer’s point of view. There are ways people try to circumvent the commission agreements, but because federal lending law requires that any money exchanged in a transaction is accounted for on the closing statement, it involves going outside escrow. And guess what? This is a slippery slope to committing loan fraud!

While we always endeavor to do everything we can and go the extra mile for all our clients we also value our reputation in this industry…

Thanks for listening!

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From the Mission to the Excelsior (the neighborhoods where each of us sold our first homes) to Pacific Heights, Nob Hill, Russian Hill, South Beach and beyond (of our many neighborhoods, we've sold in almost all of them), these are true San Francisco real estate stories. Press play below or subscribe with your favorite podcast app below:

Our goal is to deliver insight with every interaction. If we can get you to say - out loud - “I never would have thought of that…” then we know we are doing our job. Subscribe and listen to our San Francisco real estate podcast for stories where our clients do exactly that.

We believe that working with a real estate agent should be easy, and our job is to help you coordinate all the moving parts so that no detail is left untended. We don't catch every detail, although being perfect would be awesome! Listen along for podcast stories about the details in SF real estate. Some that really matter, and others that matter surprisingly little.

We know that strong relationships are the foundation of our business, we've been amazed at the power of relationships in the real estate industry. And we aren't just telling stories about strong relationships with clients - but also relationships with trusted business partners, vendors, and so many others that help us get the job done.

As the years have gone on, and we've moved from analog relationships to digital ones, I've begun to miss some of the time we spent with our clients in the car building social capital and trust as we toured homes together. Between touring homes, we always had plenty of time for stories. Stories about homes, stories about people, stories about San Francisco.

We hope you'll enjoy our San Francisco real estate podcast! We also hope it helps you think about various ways to approach buying or selling a home in San Francisco, and offers insights into what happens during an escrow that you might not have been aware of.

For our debut issue, it seems only fitting to begin, well, at the beginning. How did Britton Jackson come into the world of San Francisco real estate? What brought Britton Jackson to San Francisco? Who were her first clients? Did they know they were her first clients? Was her first real estate transaction simple? Or insanely complicated?

After you hear the story of Britton's first escrow, I think you'll be amazed that she didn't run screaming from the business. I am!

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