With the FASB’s plan on revising and/or limiting mark-to-market accounting rules coming early-April, we will also see increased freedom for markets to sort through the pricing issues that have been preventing any solution to getting these illiquid assets off bank balance sheets so they can extend new credit to businesses and consumers. … Conforming ($200,000 – $417,000) – 1 POINT 30 Year: 4.625%   (5.09% APR) FHA 30 Year: 5.0% (5.21% APR) 15 Year: 4.625%   (4.75% APR) 5/1 ARM: 4.875%   (5.09% APR) Super-Conforming ($417,001 to $625,500 cap by county) – 1 POINT 30 Year: 5.125% (5.2% APR) FHA 30 Year: 5.0% (5.21% APR) Jumbo ($625,500 – $3,500,000) – 1 POINT 30 Year: 6.625 %   (6.83% APR) 10/1 ARM: 6.25%   (6.39% APR) 5/1 ARM: 5.375 %   (5.52% APR) Scenarios assume full doc pricing on purchase or rate/term refi (but not cash-out refi) loans for borrower with 720 FICO score or greater, at least 20% equity (unless FHA), and 6-12 months reserves left over after close (retirement assets counted at 70% of value for reserves).

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For some reason, perhaps just an anomaly, REO sales activity dropped dramatically from the previous 2-week period.

Hotsheet Statistics for the Past 2-Weeks: SF Houses, Condos & TICs (compared to the previous 2-week period) New Listings:                      382 – up from 331 Back-on-Market:                56 – stable Price Reductions: 282 – up a tad (at a very high level) Went Contingent: 129 – down from 147 Contingent REO: 7 – down from 14 Went Pending: 129 – down from 149 Pending REO: 14 – down from 23 Sold: 124 – down from 135 Sold REO: 15 – down from 23 Expired/Withdrawn: 138 – down from 153 (REO = bank owned)

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Everything Within Walking Distance of Your Home Chronicle List of Top 100 Bay Area Restaurants Chronicle Map of Top 100 Bay Area Restaurants Chronicle Top 20 Wines Under $40 San Francisco Biking Resources Bay Area Hiking Trails San Francisco Parks & Recreation The Museums of San Francisco Civic Information & News by Neighborhood Guide to 25 Distinctive SF Neighborhoods Remodeling Cost vs. Value Analysis for SF Bay Area Public Transport Bay Area Trip Planner & Traffic Conditions San Francisco Recycling Resources Chronicle Foreclosure Database by Zip Code Disaster Preparedness Information & Resources San Francisco Crime Maps

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Comparing the past 2 weeks with the 2-week period, 1/30 – 2/13/09: The number of new listings coming on the market declined by 20% The number accepting offers (going contingent sale) increased by 35% Closed sales went up 75% Properties coming back on market (i.e. deals falling through) fell by 8% The number of price reductions—already at very high rates—increased by 18% Expired and withdrawn listings are relatively stable 26% of house sales were bank-owned properties (REO); 10% of condo sales were REOs PARAGON                   MLS Statistics for the last two weeks, 2/20/09 – 3/06/09                            Districts 1-10 (All SF)

… Comparing the past 2 weeks with the 2-week period, 1/30 – 2/13/09: The number of new listings coming on the market declined by 20% The number accepting offers (going contingent sale) increased by 35% Closed sales went up 75% Properties coming back on market (i.e. deals falling through) fell by 8% The number of price reductions—already at very high rates—increased by 18% Expired and withdrawn listings are relatively stable 26% of house sales were bank-owned properties (REO); 10% of condo sales were REOs

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The links below show properties in all stages of the foreclosure process and those that are bank-owned or up for auction.

…FORECLOSURE is the legal process in which a bank or lender sells or repossesses a parcel of real property after the owner has failed to comply with an agreement between the lender and borrower.

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The Uniform Time Act of 1966 provided the basic framework for alternating between daylight saving time and standard time, which we now observe in the United States. … The current system of beginning DST at 2 AM on the first Sunday in April and ending it at 2 AM on the last Sunday in October was not standardized until 1986.

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A The eligibility requirements for a Home Affordable Modification are as follows: • Borrower occupies the property as a primary residence; • Property is one-to-four units; • Loan to be modified is a first trust deed; • Borrower’s monthly mortgage payment (including taxes, insurance, and homeowners association dues) exceeds 31% of the borrower’s gross monthly income; • Borrower has experienced a significant change in income or expense to the point that the current mortgage payment is no longer affordable; • Unpaid principal balance is $729,750 or less (for one unit properties and higher for two-to-four units); and • Loan was originated before January 1, 2009. … A A comprehensive loan modification program that may qualify for exemption from the new law extending the foreclosure process by 90 days must include some combination of the following features: • An interest rate reduction, as needed, for a fixed term of at least five years; • An extension of the amortization period for the loan term to no more than 40 years from the original date of the loan; • Deferral of some portion of the unpaid principal balance until loan maturity; • Principal reduction; • Compliance with a federally mandated loan modification program; or • Other factors that the appropriate commissioner determines.

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Of the 4600+ SF home sales reported in MLS in the last 12 months, sales of REO (bank-owned) properties equaled only 3%, but by last November that had increased to 10%, and as of 2/17/09, they constituted over 15% of all houses and condos currently pending sale. 69% of city REO activity is in houses; 22% in condos; 8% in 2-4 unit buildings; and 1% in TICs. … Average Dollar per Square Foot in Selected Bay Area Zip Codes Antioch    $127 Vallejo    $144 Hayward       $253 Santa Rosa             $268 Napa                $301 Sonoma       $328 SF Bayview             $342 Novato                $348 Danville    $375 Pleasanton             $386 Daly City    $397 San Rafael             $502 Berkeley    $510 The Sunset            $564 Potrero Hill            $658 Saratoga       $672 Mill Valley       $678 Sausalito       $743 Los Altos       $779 Ross                $868 Haight Area    $874 Noe Valley            $ 922 SF Marina       $1127 Atherton    $1179 Per DataQuick for 2008 home sales: approximations for the purposes of comparison only.

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