Ya’ll seem to love the murder maps that SF Gate put together over a year ago because we continue to get large amounts of traffic to our old Murder Maps Revisited post. The good folks that put the first maps together are at it again with 2009 updates and a few additional filters. Be safe…
A free market should determine the value of a good or service based on the elementary principle of supply and demand. A good or service is worth what a person is willing to pay for it on an unstressed open market. Real estate doesn’t seem to work as simply due to the fact that most homes are purchased through a financing program, thus, the “free market” is cluttered with multiple purchasers (the borrower and the financier). Usually, a home buyer must borrow money to be able to afford an assest as large and expensive as a home, but before the bank shells out in upwards of 80% of the “value”, said bank wants to make sure they are covering their asses by lending on a “safe” asset.
On May 1, 2009, the rules of appraising property changed. Now, lenders that sell loans to Fannie Mae or Freddie Mac are required to set up a firewall between appraisers and loan officers to prevent improper influence. The rules are the result of an agreement between the mortgage buyers and New York Attorney General Andrew Cuomo, who said an investigation found appraisers inflated values under pressure from lenders. Buyers and real estate professionals are finding that many of the most recent appraisals are coming up short of what the buyer is willing to pay for a home, thus, limiting the amount of financing the bank will provide.
We want to hear from you, real buyers and sellers. What do you think a home should be worth?
Our weekly installment, Reduction Roundup, will be available for your viewing pleasure each Wednesday. This little gem will bring you some of our favorite price reductions of the week. If you have questions, know of a solid reduction that should be featured or want to know about a specific property,just ask…
Reduction: 96
Address: 201 Harrison #228 Why: It’s clean, has washer/dryer, the building is FHA approved and has a pool. Original $: $349,000 Current $: $315,000
We gave it a shot, but numbers talk and Weeks Tweets proved to FAIL. Thanks for humoring us over the last few weeks with this segment. We have not ditched our favorite Tweets all together, however. Instead, we have added a feed to the far right column of our blog (under recent comments) that displays our favorite Tweets (Schweet Tweets). So, follow us, we may follow you back and if you’re funny, informative, irreverent or just hella dope, you may find your tweet featured here at SF Schtuff.
Economy got you down? Grab your BFF’s and de-stress at Shecky’s Girls Night Out – the only event where you can sip complimentary cocktails all night long, grab chic fashions at amazing prices, sample new products and score fab freebies inside Shecky’s Famous Goodie Bag – all under one roof!
Schtuff: When: Wed.-Thu., Jun. 17th-18th Time: 5pm-10pm Place: Fort Mason Center, Herbst Pavilion More Info: Shecky’s
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