Madrone Mission Bay is scheduled to increase prices for their coveted
waterfront new construction project slated for a late summer delivery.
With strong sales in the fourth quarter of 2011, prices are expected
to rise.

Madrone is the new address next to Radiance providing a new living
experience to San Francisco. With a mix of one- and two- bedroom
residences and townhomes, these homes will offer incredible views,
designer interiors, an indulgent amenity collection and a location
that brings beauty and natural influences of the bay together with the
city. Madrone’s coveted Mission Bay address is surrounded by a
vibrant, walkable neighborhood and is just steps from the water and
three blocks from AT&T Park, with downtown neaby.

For more information, please contact Todd Montgomery at todd@climbsf.com

Newly constructed, FHA approved, 2 bedroom + den / 2 bath residence features custom CA closets and Hunter-Douglas window treatments, maple hardwood flooring, over-sized wood veneer entry doors and solid core interior doors — details the discerning homeowner will appreciate. Floor-to-ceiling windows enhance the living space and afford dramatic city views. This was the most popular floor plan at 829 Folsom, and the first to sell out.

Kitchen features custom European cabinetry with lacquered cabinet doors and wood drawers, equipped with soft-touch closure hardware. Sleek finishes include polished slab granite counters, under-mounted stainless steel sinks with single lever faucets and pull-out sprayer, Thermador & Bosch Energy Star-rated stainless steel appliances, built-in microwave, natural gas cook tops and multi-cycle dishwasher with hidden controls.

Bathrooms include marble flooring and surrounds that wrap around a six foot soaking tub or air-jet spa and adjustable height hand shower, European wood cabinetry with under-mounted porcelain sinks and designer polished chrome fixtures. TOTO dual-flush water-conserving toilets and contemporary wood framed mirrors with integrated lights complete this sophisticated space.

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Kevin Gueco has a reputation for identifying and negotiating the best deals for buyers, and as the official SF concierge for TopTenRealEstateDeals.com, he can give you the inside track on foreclosures, short sales, developer close-outs, first release inventory, and off-market listings. To make sure you get the best possible deal on your San Francisco home purchase this year, contact Kevin Gueco at 415-418-8850 or kevin@climbsf.com

Madrone Mission Bay, one of San Francisco’s newest new construction
projects, will be raising their prices to meet current demand and the
lack of new construction inventory.

Since the beginning on 2012, Madrone in Mission Bay has had tremendous
sales absorption with numerous contracts written.  Sales are so strong
that it is rumoured that a price increase will be in affect.  Also
affected would be the price guarantee currently in effect by Bosa.

To take advantage of pre-construction prices, please arrange for a

private tour of the construction site.  For more information, please
contact Dirk Kinley at dirk@climbsf.com

JP Morgan Chase Asset Management just bought 902,000 square feet in China Basin Landing for $415 million late December 2011.  This is more than double the space Salesforce.com bought for $340M who held the record of highest stakeholder in Mission Bay.  The earlier investment by UCSF who spent This beats the $340M by Salesforce.  California Public Employees’ Retirement System (CalPERS), the seller of the property of predominantly office spaces bought it in 2005 for $260 million.  It appears they came out ahead in Mission Bay despite buying at the peak of the housing market.

I just opened escrow on another view 2BR/2BA in the sold out “05” stack at Madrone by Bosa in South Beach / Mission Bay. Contact me for final price & terms. Even though these homes won’t be delivered until June 2012, the sales office reportedly already has over 50 homes in contract.

Like the homes at Radiance Mission Bay, the new homes at Madrone come fully loaded with hardwood flooring, full-height windows, large balconies and patios, solid core doors, roller shade window coverings, a full-size stacked washer/dryer, fiber optic cabling, European-style wood veneer cabinetry, Caesar Stone countertops, & stainless steel appliances which will include the all-important gas range. Amenities include open air sundeck with 75 foot pool, outdoor spa, 3rd floor landscaped gardens, outdoor grill & dining area, resident lounge & game room, screening room, entertaining kitchen, fitness studio with steam room & sauna, attended lobby & luxurious seating area, gated parking, & business center.

Kevin Gueco has a reputation for identifying and negotiating the best deals for buyers, and as the official SF concierge for TopTenRealEstateDeals.com, he can give you the inside track on foreclosures, short sales, developer close-outs, first release inventory, and off-market listings. To make sure you get the best possible deal on your San Francisco home purchase this year, contact Kevin Gueco at 415-418-8850 or kevin@climbsf.com

Home buyers who are on the lookout for great deals often seek Real Estate Owned (REO) or Short Sale properties because of the bargains they typically offer. However, when considering buying a distressed property, buyers need to know their timeline.

If you need to buy a home in fewer than three months, an REO property may be better than a Short Sale, unless the home is an approved Short Sale. A Real Estate Owned property is listed by the bank, which is often motivated to make a quick sale. With a Short Sale, the listing price is set by the seller and his agent. The bank is unaware of the listing price, so when a buyer makes an offer the bank may take months to deny or accept the offer.

Each bank wants different things. Some banks want cash offers while others are seek higher prices. If the seller has mortgages at different banks, there may be a longer waiting period and it may be more difficult to get the sale approved. If the sales price covers the first loan only, the lender of the second loan may deny the sale unless the first lender offers a portion of the sale to settle with the second bank. For this reason, it is best to deal with a seller that has loans from the same bank. An approved Short Sale is a home where the bank has already approved the sale at a specified price. This is often the case when the original buyer walks away months after her offer was first submitted to the bank.

It is best to work with an experienced real estate professional that will guide you through every step. Whether buying an REO or Short Sale, keep in mind the property may not be in mint condition. The contract states the property is for sale “as-is” so expect possibilities of dirty carpets, damaged appliances, and scratched walls. The buyer is responsible for all future improvements made on the home.

For any questions regarding REO or short sale properties in San Francisco, contact Vi Pavlicevich at 408.540.4069 or vi@climbsf.com. Vi is an expert in San Francisco Real Estate including Mission Bay, Soma, Potrero Hill, Financial District and South Beach.

Home buyers who put less than 20% down will have to pay mortgage insurance depending on the type of loan borrowed. For an FHA loan with 3.5% down, an FHA Mortgage Insurance Premium (MIP) is required. For a conventional loan with as low as 5% or 10% down payment, Private Mortgage Insurance (PMI) is required. These insurance plans protect the lender against losses should the borrower default.

These are some main differences between FHA MIP and PMI to help you choose between an FHA loan or a conventional loan if you don’t have enough cash for a 20% down payment:

1.     Up-Front Fees

For loans borrowed on or after 10/4/2010, the FHA MIP is a 1.00% up-front fee at closing time. This amount remains unchanged and is paid over the life of the loan. There are no up-front fees for conventional PMI.

2.     Rate

The FHA MIP has an additional payment of 1.1% to 1.15% of the loan amount per year divided over 12 months. PMI rates vary depending on the lender, but rates are usually 0.5% per year divided over 12 months.

3.     Termination

PMI is terminated when the loan balance reaches 78% of the original loan amount.

FHA MIP is removed under these circumstances:

a)     For a loan term equal or shorter than 15 years, annual premiums will be canceled when the loan balance reaches 78%.

b)    For a loan term greater than 15 years, annual premiums are mandatory for the first five years even if the loan balance reaches 78% before the fifth year. If the loan balance doesn’t reach 78% after the fifth year, FHA MIP premiums continue.

c)     For a 15 year loan with 20% down, FHA MIP is not required.

For any questions regarding buying or selling your San Francisco property, contact Vi Pavlicevich at 408.540.4069 or vi@climbsf.com. Vi is an expert in San Francisco Real Estate including Mission Bay, Soma, Potrero Hill, Financial District and South Beach.

One Hawthorne is a boutique collection of new construction luxury
condominium residences and penthouses located within San Francisco’s
downtown cultural and business center.  Here is a market update on a
recently released home.

Residence 14B | $499,000
Junior one-bedroom | one bath | approximately 558 square feet
Unique, stylish city home at an incredible price.

For more information about One Hawthorne San Francisco or to arrange a
private tour of these remarkable downtown condos, please contact Todd
Montgomery at 415.203.6022.  Todd is One Hawthorne’s #1 outside resale
agent and can provide you insight into buying new construction condos
in San Francisco or other new highrise developments including
Millennium Towers, The Infinity, 199 New Montgomery, Madrone in
Mission Bay, or The Metropolitan.

Rare 3 bedroom, 3 bathroom townhome is in the heart of Mission Bay, the energetic new neighborhood along San Francisco’s south waterfront. With unobstructed water views in a coveted location on Mission Creek, this special residence provides a truly waterfront location that provides water and skyline views, city convenience, and access to nature. This rare 3 bedroom, 3 bathroom townhome is in the heart of Mission Bay, the energetic new neighborhood along San Francisco’s south waterfront. With unobstructed water views in a coveted location on Mission Creek, this special residence provides a truly waterfront location that provides water and skyline views, city convenience, and access to nature.

Unit Features

• Waterviews from all 3 bedrooms
• Private, house-like two-story townhouse with only 1 adjoining party wall
• Private outdoor private terrace
• Gourmet Kitchen with gas Bosch range, stainless steel Bosch appliances, Sub-Zero refrigerator
• Rich granite slab countertops with backsplash
• Euro-style frameless Bamboo veneer cabinetry
• Master Suite with water views
• Master Bathroom with Kohler fixtures, Toto toilet, limestone countertops
• Secondary bathrooms with ceramic tile countertops, frameless mirrors, Kohler fixtures
• Hardwood floors
• Upgraded lighting fixtures
• Visionic wireless security system
• Pre-wired data/communications and satellite TV system
• Washer/Dryer
• 1 car deeded parking

At 235 Berry, you are surrounded by all the elements of classic City living. With its waterfront location and well-groomed master-planned setting, this collection of fine homes is close to everywhere you want to be. Fine dining, the ballpark, world-class shopping, parks and restaurants are all in your neighborhood. Light rail, BART and the Baby Bullet Caltrain are at your door. The Ferry Building with its Farmer’s Market, Yerba Buena Gardens and the SFMoMA are a pleasant stroll or cab ride away. The high culture of the Civic Center and the glamour of Union Square are within easy reach. Enjoy the best of San Francisco from a classically urban perspective.