“June Gloom” has arrived in San Francisco. We’re talking about the weather, not the housing market, though buyers may well continue to feel gloomy as the market shows no signs of letting up. Both condo and home prices continue to hit record highs, with the average home selling for 10% over the original asking price.
There may be a typical summer slowdown (reflected in the trailing drop in third quarter numbers above) as thehigher end of the market typically heads out of town on vacation. Beyond that, there’s not much I can add to what has been a pretty consistent scene for the last three and a half years.
So instead, I thought I’d share some extremely useful cheat sheets on some of San Francisco’s Byzantine rent control laws. The cheat sheets below are published by the law firm of Bornstein & Bornstein, one of several in the city that has deep expertise in matters pertaining to rent control, “owner move-in evictions” and similar matters. These areas are particularly tricky for anyone contemplating the purchase of a tenant-occupied property with the intention of moving in themselves, and for anyone who already owns rental property.
As for converting a TIC unit or building into a condominium, the legal requirements are now so convoluted that not even the Bornstein firm has been able to come up with a cheat sheet to describe it. After doing some digging, however, I did find one. Here it is.
Speaking of spaghetti, my family and I will be on our way to Italy in a few days. I have no doubt that the pasta there will be more palatable there than what the SF Building and Planning Department serves up!
As always, your comments, suggestions, and referrals are very much appreciated!