Welcome to San Francisco Real Estate with Kevin K. Ho, Esq. and Vanguard Properties

kevinhomug

Hey — It’s Time for Real Estate!

My name is Kevin Ho and I am broker Associate at Vanguard Properties. I specialize in residential and commercial real estate in and around our fair city of San Francisco. I am also an active attorney with 9 years’ experience and am licensed to practice in California before state and federal courts.

To me, real estate is more satisfying and rewarding than law. But my lawyer background carries over: it’s my job to support, counsel and work on my clients’ behalf during (and after) our transaction comprehensively and zealously. I’ve been a news reporter and am a trained mediator. I can speak Cantonese and a bit of Mandarin.  My law degree is from U.C. Berkeley (Boalt Hall) ’04, my master’s is from the University of London (SOAS) ’01, and my BA is from WashU ’00. I studied at New College, Oxford and with St. Olaf College in Minnesota

A Tech Reporter’s Touch. I am curious and enterprising and am unafraid. I use tech (iPhone, iPad, mifi), crowd sourcing and cloud computing to streamline the real estate process.  And I listen to learn about my clients and their goals. My clients get the benefit of my relationships to glean opportunities and exclusives that others cannot deliver. My clients are both buyers and sellers, old and young, new to the market and seasoned pros from all walks of life. Each gets the attention and service only I can deliver.  For me, real estate means variety and fun. I love what I do and I hope you will too.

While I was born and raised in Iowa City, Iowa, and my goal was always to make San Francisco home. Using that Midwestern work ethic and niceness, I reached the goal of being here. Now I channel my background and energies to help my clients reach their goals. 

Opportunity Found. I work creatively and think broadly for my clients. I also approach real estate under the premise that this is not just important business but it’s a major life decision too — home buying is one of the most important decision people make in their lives after all.

Plugged-in In a Variety of Ways. I’ve been featured in such outlets as Curbed SF as being an authoritative real estate resource. I am on the San Francisco MLS Committee and working to improve MLS technology and distribution so that we have the best information at our disposal.

My membership in the State Bar’s Real Property Section and its Subsection on Construction & Development keeps me current and informed of current legal developments impacting real estate. And my membership in the San Francisco Residential Builders’ Association assured my clients are plugged-in to the latest developments in the City.

All of my clients get this unbeatable combination by working with me. Remember the only time agents get paid is when a property is sold. Therefore, I ask you work with me exclusively so we can make an impact collectively and winning impact. Together we will succeed.

So let’s get started today!

KHo Blue Sig

A Powerful Market vs. a Bubbling One We’re seeing multiple offers again. And while there were multiple offers in the last two market surges in 2000 and 2005-06, this time growth is legitimate, sounder and more robust. This market is where both buyers and sellers have power.

Last time the growth was inflated with artificial (or non-existent) lending standards and adjusting or exploding mortgage rates. This time mortgage underwriting is invasive to say the very least if not just plain exhausting — or should I say exhaustive?

Today, we not only have ready and willing buyers but we have able ones at that. In fact, 47% of all area offers in March were all cash. Qualified buyers financing their deals are especially qualified and will bring at least a 20% down payment to the table. The average time to sell a home in the Bay Area is 17 days versus 78 nationally. More data from 2012: 30% of all sales were of foreclosed properties, which is down from 54%. And 27% of all Bay Area buyers were international buyers in 2012. And, from being nearly 1/2 of all purchases, purchases by first-time buyers are down to just 33%.

 

Find me on Facebook, Twitter (@kevho) and see my photos from tour and YouTube home previews.

 

If it’s Tuesday, it’s tour time. Check out what we’re seeing this upcoming Tuesday (May 22, 2013). If there’s anything you want me to see for you, or if you want to tag along, let me know today!
Congratulations to my clients Aaron and Ashley for closing on their new Noe Valley Victorian charmer single family house at 1617 Church Street for $1.26M. It’s an incredible home! Just goes to show the smartest offer wins!
Congratulations to my client Chris closed on a rare, off-market, luxe penthouse condo in Eureka Valley at 4648 18th Street for $1.85M —a hidden gem! Just goes to show how diligence and patience will carry the day!
Congrats to my clients Andrew and Lana on getting into contract on an amazing single family home in Mission Terrace for under $600,000!
Coming Soon from Kevin: 4658 18th St. at Danvers, condo, 3 bedroom, 3 bath, parking, elevator, lower unit, 2-level, deeded yard, luxe 2008 renovation; 1800+ square feet. Transitional style, smart & unexpected! First open house June 1. Expected list price: $1.6 million

Why San Francisco still stands heads and shoulders above. Even the Case-Shiller Index, which is typically lagging from what’s really going on and more pessimistically so, said that San Francisco’s home prices gained a seasonally adjusted rate of 14.4% in December 2012 while the national average was less than half of that at 6.8% What makes us so special?

You’ve heard it before San Francisco is a truly international city. So while you may hear of growth in Houston, for example, would you really want to live there? Would the rest of the world want to?

No, you’d rather want to live in the Bay Area.

Here’s how SF has the 10 attributes of a truly global city:

  1. A main urban hub with spokes that will accommodate different communities, price points and diversity. You’d agree we have that diversity of towns and cities in the Bay Area.
  2. A place that people want to visit. San Francisco consistently ranks as one of the top 10 tourist destinations in the world.
  3. A city anchored by globally recognized educational institutions and universities. Here: U.C. Berkeley and Stanford, not to mention UCSF.
  4. Cultural diversity is a must. If you don’t believe we have that in spades in San Francisco, just walk down Mission Street.
  5. A city and area that has employment diversity that relies on various industries to thrive instead of being too reliant on one like car manufacturing, government or building aircraft. Sorry Detroit, but you guys didn’t foster Google, Genentech and Tesla for example.
  6. An area that has dominant financial companies and resources, i.e., Silicon Valley venture capital, Wells Fargo and Charles Schwab anyone?
  7. A prominent industrial base. Our base is diverse but Silicon Valley anchors the global technology industry. Last year, 1.3M sq ft of commercial space was rented with 53% to technology companies and, of that, 37% went to international companies; average commercial ranges now are $50/sq ft.
  8. A place that is near nature and recreation, i.e., Tahoe, Napa & Sonoma, Yosemite, etc.
  9. A place with unique character and spirit that cannot be replicated. Other places may have their tech incubator technology parks, but few have the cachet, mystique and name recognition as Silicon Valley.
  10. Capacity as a gateway to emerging markets, think the Pacific Rim and Latin America.

 

Smarter and wiser Buyer service that builds a reporter’s curiosity and a professional’s experience
Innovative and wiser Seller service that builds a lawyer’s caution and a professional’s experience
Comprehensive, Tech-savvy, Energetic, Knowledge-based
 

Check out My Podcasts! In the Know with Kevin Ho

 

News for you. On the Go.

San Francisco is expected to reign as the nation’s top real estate market for investment, development and homebuilding in 2013, hear what I have to say about it in these short, funny and insightful blurbs from yours truly updated a few times a week.

Starting in February 2012, the market changed in SF. Instead of a shortage of serious buyers, the tables turned toward a shortage of good homes that lasted long enough for people to see without other buyers making preemptive offers. So, prices have gone up —and up. And while the strength in prices left in last year’s wake remains, we hope agents are now pricing homes more accurately. But many are still using an offer-date system whereby the listing price may have little to do with the ultimate selling price because competitive bidding is encouraged. Balanced against that is that home borrowing, while still strenuous, is affordable because interest rates remain at historic lows. And if you think prices will go down, think about all the other folks who lost out in competitive bidding — they’re not going anywhere too.  Remember, I’m here to help you, your family and friends succeed. For insights like these and more, subscribe or listen to my podcasts below.

Kevin’s Journey Map: The Home Buying and Selling Process in San Francisco

Let me guide you…. You’re about to go on a fun, sometimes complicated, nuanced and many-a-turn-filled journey on the way to our destination: closing escrow. San Francisco’s market can be confusing as it is confounding for buyers and sellers alike. Together we will find you the right solution best-suited and tailored to your needs, wants and goals. We live in a unique place where it’s easy to get lost along the way. So, here’s a route map I created for you with the paths we will take and the stops we may encounter on the way to closing day.

If you're buying a home in San Francisco (or anywhere for that fact) you're about to go on a long journey with twists and turns. Here's what you may encounter along the way.

If you’re buying a home in San Francisco (or anywhere for that fact) you’re about to go on a long journey with twists and turns. Here’s what you may encounter along the way.

Listed and Sold: 467 Duboce Ave – Nearly New SOHO-style Home in SF – $900,000

Who: SELLER
Where: Duboce Triangle Chic Penthouse
When: July 2012 – SOLD $900,000


After less than a year here, the owners of 467A Duboce are relocating back to New York. They are heartbroken to leave this warm, chic and private home located in middle of the coveted Duboce Triangle area, which is steps away from a vibrant dog park, nightlife, transit and urban conveniences.

Like its brethren, noted architect Owen Kennerly designed this serene space, which stands apart from the other homes in the Chinese Laundry group because of its finishes, vast outdoor space, west-facing windows, exclusive roof deck and main level deck.

You may remember this home was sold in a blink last year and you may have missed it. We extended this listing to a select group of agents before the general market and out it into contract less than a week on.

2013 update: Ever since then the market has gone up. The other two units sold a few months later for $1.195M and $895K responsively. And, for fans, the architect and developer who developed the Chinese Laundry are building a new development over at 16th Street and Albion.

Today’s SFO Real Estate News May 23, 2013

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Today’s SFO Real Estate News May 22, 2013

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Today’s SFO Real Estate News May 21, 2013

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Today’s SFO Real Estate News May 20, 2013

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The Scoop on 200 Dolores

Posted by on May 19, 2013 in Buy Later, Castro District, Dolores Park, exclusive, Home Buying, Hot Property, Major Renovation, New Construction, SF News, SF Urban Planning, Something Special | 0 comments

Here’s the scoop on 200 Dolores
As provided to me by the listing agent for the property Anne Herrera of Sotheby’s – Thanks Anne!

This project has been in the works for quite some time. Each will come 1 car garage parking. They will be “gorgeous with exceptional finishes.”
Anne anticipates list prices at approximately $1000 per square foot, subject to a final discussion with the developer — Often times prices in new developments will depending on supply and demand.

Anne expects completion of the project at the beginning to middle of June.

Anne suggests people check out the project’s website for up to date information.

Floor plans available next week.

One – 1 bedroom, 1 bath, approximately 650 square feet.

Two – 2 bedroom, 2 bath, approximately 1015 and 1120 square feet (lower and middle units in the Victorian).

Nine – 2 bedroom, 2.5 baths, approximately 1095-1530 square feet, some with private roof decks.

One – 3 bedroom, 3.5 baths, approximately 2200 square feet, (upper unit in the Victorian).

All square footage and list prices are approximate and subject to change.

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Today’s SFO Real Estate News May 18, 2013

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In San Francisco, the Boom Is Back | SPUR

Posted by on May 17, 2013 in San Francisco Real Estate | 0 comments

What happened: More than 4,220 units of housing began construction in San Francisco in 2012 — following a year in which just 269 net units were added.What it means: After years of underbuilding, new housing and commercial construction is booming in San Francisco.  Years of work on neighborhood plans and rezoning are paying off as new construction targets transit-served areas and neighborhoods that support greater residential density.

via In San Francisco, the Boom Is Back | SPUR.

Today’s SFO Real Estate News May 17, 2013

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What Does $1M Get You in SF? New Sales Data from April 2013 Says An Average House

Posted by on May 17, 2013 in San Francisco Real Estate | 0 comments

SF Market Focus

News From the San Francisco Association of Realtors

A million dollars doesn’t go as far as it used to in San Francisco

“Don’t you think we should ask for more than a million dollars? A million dollars isn’t exactly a lot of money these days,” Number 2 – Austin Powers International Man of Mystery.

If your clients are looking to buy a home in San Francisco after relocating from elsewhere in the nation, they can be forgiven for making the same mistake Austin Powers did in thinking he could get what he wanted (in his case, world domination) for a mere $1 million. Newcomers to the area are often shocked to find that $1 million might not get them all the amenities in a home that they desire.

April, the kick-off month of peak spring homebuying, found the median price for single-family homes in San Francisco reaching the $1 million mark, an increase of nearly 32 percent over the April 2012 median price. Click here to read SFAR’s press release about prices hitting the $1 million mark.

Add to escalating prices, high demand, tight inventory and stiff competition from investors who can pay all cash and homebuyers may too take a moment’s pause (with pinky finger firmly resting at the corner of one’s mouth).

Single-Family Home Sales

Compared to April of last year, the inventory of single-family homes for sale in the City fell by 19.6 percent, to a total of 541 properties. The number of homes under contract rose by 11.5 percent, while the number of homes sold dropped by 4.1 percent, to a total of 212 properties.

For homes that were priced below $700,000, the months supply of inventory dropped by 42.6 percent to 1.1 months. For higher-priced homes between $700,000 and $1.2 million, the months supply of inventory also fell, by 20.6 percent to 1.1 months.

Properties being sold within just a few weeks of listing indicates a strong sellers market. Sellers are, in most cases, getting multiple offers due to limited inventory.

One region of the City experiencing a boost of mojo is the Central East section known as District 9 which includes the neighborhoods of Portero Hill, Dog Patch, Inner Mission and Mission Bay. Since 2011, the inventory of homes in this district has shrunk more than 42 percent with just 48 properties for sale in April 2013. At the same time, median prices in the area hit a 2-year high in April 2013.

The Inner Mission neighborhood has become a popular area for young tech professionals, due to its proximity to downtown, availability of mass transit, shuttles to Silicon Valley and an abundance of popular restaurants. The median price for a home here is $1,001,000, up 33 percent from the same time last year.

Condominium Sales

Along with single-family homes, the inventory of condominiums for sale in the city fell by 17.1 percent, to a total of 740 condominiums. The number of condominiums under contract rose by 20.6 percent, while the number of condominiums sold decreased by 0.3 percent, to a total of 295 units.

For condominiums that were priced between $500,000 and $900,000, the months supply of inventory tightened by 46.2 percent to 0.8 months. For luxury condominiums priced above $900,000, the months supply of inventory also dropped by 64.2 percent to 0.9 months.

Data for You: Single-Family Homes Median Sales Price: $1,000,000 Active For-Sale Inventory: 541 Days on Market: 27 Condominiums Median Sales Price: $850,000 Active For-Sale Inventory: 740 Days on Market: 31 Statistics reflect year-over-year figures from April 2012 to April 2013

One area in the City, perhaps not often thought of for condos is District 1, which includes the neighborhoods of Richmond and Sea Cliff, which sits just south of the beautiful Presidio. Condos in the area have been a hot commodity with inventory there decreasing by nearly 60 percent over the last two years. The median price for a condo in the district reached $810,500 in April 2013.

Outlook

The Conference Board Consumer Confidence Index®, which had declined in March, increased in April. Lynn Franco, Director of Economic Indicators at The Conference Board said: “Consumer Confidence improved in April, as consumers’ expectations about the short-term economic outlook and their income prospects improved. However, consumers’ confidence has been challenged several times over the past few months by such events as the fiscal cliff, the payroll tax hike and the sequester. Thus, while expectations appear to have bounced back, it is too soon to tell if confidence is actually on the mend.”

The California Association of REALTORS® (C.A.R.) reported California home sales and prices experiencing strong increases in April, with the median price surpassing the $400,000-mark for the first time in five years. In addition, homes across the state sold more quickly in April 2013, with the median number of days dropping to 27.9 from 48 days in April 2012.

CNN Money recently reported that, “during the housing bust, sales were often derailed by low-ball appraisals that fell far shy of a home’s selling price. But now, as home prices climb and housing inventories shrink, appraisers are valuing homes at or above their selling prices.”

According to SF Gate, “San Francisco rental rates rose 15.8 percent in the first quarter of 2013 compared with the same time last year, to an average of $2,663 for all size units. Studio apartments averaged $2,075, up 16.5 percent in a year. The steepest rise came in one-bedroom, one-bathroom apartments, which are now $2,611 – up 19.9 percent in the past year and up 30 percent from two years ago.”

Today’s SFO Real Estate News May 16, 2013

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