February 24, 2009 • 8:03 am
According to the Examiner:
The department [of Alcoholic Beverage Control] is threatening to revoke the liquor license at DNA Lounge for “lewd” and “lascivious” behavior after department agents witnessed nudity and risqué behavior at four events last spring.
A few gay events held at the 11th Street location last spring did have some “misbehaving boys,” but shutting the place down for isolated incidents is absurd.
DNA Lounge license could be stripped [SF Examiner]
Save DNA Lounge [Facebook]
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Filed under: Ggold, news , news
February 18, 2009 • 10:08 am
President Obama unveiled his $75 billion Help For Homeowner plan and he was stern about banks and lenders being held accountable for their actions. Just as he demanded responsibility from all parties when announcing the American Recovery and Reinvestment Act of 2009 on February 17 2009, this new Homeowner plan requires help not just from the government and banks, but also borrowers. The President explained that homeowners need to take responsibility for our own actions, live within their means and not assume that housing prices will go up 20, 30 and 40% every year.
According to the President, the plan will not rescue the irresponsible or scrupulous. It will not help the speculators. It will not help lenders that acted dishonestly by distorting the facts and dismissing the fine print and will not reward folks that knew they would never be able to afford the home or loan from the beginning. Though we all want to be saved, President Obama said that this plan will not save everyone.
Schtuff the plan will do:
- Make it possible for 4-5m currently ineligible borrowers who have Freddi/Fannie backed loans to refinance at lower rates even if under water. It will allow families locked in at a higher rates to refinance. The cost to taxpayers is zero for this portion of the plan. Though Freddi/Fannie will get less money from the readjusted mortgages, it will be balanced by fewer defaults and foreclosures.
- Create new incentives for lenders to rework/restructure sub-prime loans. The plan will establishes clear guidelines that will encourage lenders to modify under the new guidelines. Lenders will be required to take no more than 32% of borrowers income. The cost today will be mitigated by saved costs of foreclosures tomorrow, but there is a cost to taxpayers for the portion of the plan.
- Keep rates low for middle-class families looking to secure rates by using the funds approved by congress in the American Recovery and Reinvestment Act. The Treasury and Federal Reserve will purchase Freddie/Fannie securities to maintian stability.
- Create a wide range of reforms to help families stay in their home. The administration will restructure bankruptcy rules so that borrowers pay the market rate of their debts as long as debts are payed by court order.
Obama Plans $75 Billion Outlay to Fight Foreclosures [NY Times]
Obama: Aid 9 million homeowners [CNN]
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February 17, 2009 • 6:30 pm
For all you Twitter-Heads, we recommend following Emergency_In_SF. This service is not affiliated with the city or county of San Francisco, but they often tweet about emergencies in sF well before the major news outlets. The latest update, at 6:00pm on 2/17 informs us that there was a raw sewage spill in Sausalito that may wash ashore in sF. Stinky.
Emergency_In_SF [Twitter]
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Filed under: Ggold, favorites, news , favorites, garrett goldman, news
January 13, 2009 • 8:36 am
September 25, 2009
January 13, 2009
While the Midwest suffers a cold streak and blizzards, San Francisco is experiencing some spring time-like weather.
SF Gate reports:
“In northern Minnesota, it was 35 below zero in Roseau and 36 below in Hallock, with wind chills down to 45 below in Hibbing. Just to the north, Winnipeg, Saskatchewan, also hit minus 36, according to Environment Canada.”
Lots of cold in the country, while we are experiencing upper 60’s to lower 70’s and crystal clear skies! The sun feels good, but we should all be thinking wet dreams thoughts as our state really needs some precipitation. We are already in a deep recession, throwing a drought in the mix will just make things that much more complicated.
Sharp cold wave shocks upper Midwest temps to -36 [SF Gate]
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December 1, 2008 • 2:12 pm
There were warnings about the possible devestating impact of adjustable rate mortgages and low down payments, but few listened.
“Expect fallout, expect foreclosures, expect horror stories,” California mortgage lender Paris Welch wrote to U.S. regulators in January 2006,
Federal regulators were especially concerned about mortgages known as “option ARMs,” which allow borrowers to make payments so low that mortgage debt actually increases every month. But banking executives accused the government of overreacting.
AP IMPACT: They warned us, but US eased loan rules [SF Gate]
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November 18, 2008 • 2:50 pm
The Federal Housing Finance Agency (FHFA) on Friday announced that the “new” conforming loan limit for 2009 will remain at $417,000 for most areas in the U.S., unchanged since 2006. Loan limits for high-cost areas, including California, are capped at $625,500, down from the previous $729,750 limit. Loan limits for many areas of the state do not reach this lower threshold and are dramatically reduced from 2008.
“Although price declines mean that the total number of homes eligible for conforming financing has increased, we’re disappointed that the $729,750 limit stipulated in the Economic Stimulus Act of 2008 signed in February was not made permanent,” said 2008 CAR President William E. Brown. “The reduction in the loan limit to $625,500 will negatively impact both the interest rates and the availability of funds for jumbo mortgages. We hope Congress will make the $729,750 limit permanent before the end of the year as one of the provisions in an economic stimulus package.”
The conforming loan limit determines the maximum size of a mortgage that Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac can buy or guarantee. Non-conforming or jumbo loans typically carry a higher mortgage interest rate than a conforming loan, increasing the monthly payment and negatively impacting affordability for households in California.
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Filed under: mortgage, news , mortgage, news
November 11, 2008 • 4:24 pm
Filed under: Ggold, Potrero Hill, news, price reductions, real estate , garrett goldman, news, Potrero Hill, price reductions, real estate, the potrero
November 4, 2008 • 12:11 pm
In November 2008 it was reported that a murder-suicide took place at 215 Missouri Street in Potrero Hill. Yesterday, the house where this tragic event occurred came on the market for $849,00 (requiring court confirmation). The young couple that lived there bought it for $985,000.
I want to share this unique opportunity and the last chance to own a home at The Potrero. We realize that buyers have become more cautious with regards to purchasing real estate due to the recent economic developments- so now is their chance to purchase a home under market value- should the market refuse to correct for a while longer. Minimum Bid pricing is significantly lower than our previous list prices.
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