A Great Place to Leave Your Heart in San Francisco!

By
Real Estate Agent with Alain Pinel REALTORS BRE#00861017

Back to my side of the Bay for a bit...

First of all, I want to reiterate past blog posts that San Francisco is still an awesome market! Two of my colleagues had a listing and got over a dozen offers. Not the best location in Visitacion Valley, not the best condition, but they priced it correctly, got multiple offers and over asking! So much for these nay-sayers who pontificate that we are in a slump--NOT SO in SF.

Back to my title.... I made a foray into the local real estate market last year and the jury is still out as to whether this has been a mistake or not? I bought that wonderfully uniquely San Francisco form of ownership called a TIC. Sounds good in theory, but if people change their minds or don't want to honor the agreement; one doesn't have a whole lot of options.

So after an extensive remodel--still in progress--I will be selling my pied-a-terre in Nob Hill. It has two bedrooms and will have two bathrooms, a new kitchen, a heat source, new electrical (up-to-code), etc. etc. Theoretically my "interest" will be ready for condo-conversion (after $100K, it should) and the group is undergoing the necessary steps to do individual financing. It has a view of the Pyramid even! FREE laundry and storage. Sounds perfect, you might think, but not so. Drawbacks are no parking, small (around 850 sq feet) and, that double-edged sword--it is a TIC!

 Once the remodeling is complete and I learn how to post pretty pictures, you will see it. In the meantime, you can see what it used to look like here... http://www.rebeccarealtor.com/property.asp?id_property=90482

 For more info, call or email me or post a comment here! (415-412-1977 or Rebecca@RebeccaRealtor.com )

P.S. Two of the other interests were recently appraised for over $800K. I might break even at $650,000. Coming soon--and you'll hear about it here second (after my Keller Williams Realty office).

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Location:
California San Francisco County San Francisco Nob Hill
Tags:
san francisco real estate
tic
piedaterre
2 bedrooms and 2 bathrooms
tic for sale
nob hill
keller williams realty

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Rainmaker
130,709
Bill Exeter
1031 Tax-Deferred Exchange Expert
Exeter 1031 Exchange Services, LLC

Hi Rebecca,

We have our fingers crossed for you.  We all love San Francisco, and wish that we could visit much more often that we do.  Have a great April Fools Day.

April 01, 2008 01:47 AM
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Rainmaker
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Rebecca White

Real Estate Agent - San Francisco
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