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Bridge Equity Group: Getting You From For Sale to Sold

This past Monday, September 2, 2013, Bay Area dwellers rejoiced as the new Bay Bridge opened to travelers after final construction came to a close over the long holiday weekend. Having initiated construction on the new bridge in 2002 it only took a mere eleven years to complete the new and improved bridge project. To watch the complete San Francisco- Oakland Bay Bridge construction time lapse (in four minutes!) click, here. Looking to sell your house but don’t have that kind of time on your hands? Allow the Bridge Equity Group to assist. Connecting home sellers, home buyers, and real estate investors (in the Bay Area), Bridge Equity Group  works to help you to sell quickly and efficiently. Have a property you’re looking to sell? Need to get into a new home asap? Let Bridge Equity group help you bridge the gap between where you are today and where you’d like to be...

Pitcher Barry Zito’s Former Marina Digs Land on the Market

  Consider yourself a true Giants fan? Perhaps you ought to consider investing in pitcher Barry Zito’s former Marina home, which has recently hit the market at a mere $1,299,888. Originally purchased by Zito in 2002 for $715K and sold in 2006 for $765K the home contains 2 bedrooms, 1.5 baths and comes with a 1-car garage. Having undergone a recent remodel, the Marina digs feature restored architectural elements, a beautiful new chef’s kitchen, and the added bonus of Zito juju, making it a true ‘home run’. Looking to sell your home? Want to make it a faster turner around than the average market listing? Bridge Equity Group, will buy your home, for cash and fast! Now, that’s a grand slam!   For more info on buying this Bay Area home visit – 3417 Divisadero.com Photo: SF...

PACE OF HOUSING MARKET FELL FOR THIRD CONSECUTIVE MONTH IN JULY

  Following on the tails of a competitive spring market, home-selling speeds fell in July according to Redfin. Their report concludes that in July 2013, 30 percent of homes went under contract within 14 days of their debut, a decrease from 31 percent in June and 33.4 percent in April. However, when compared with last year’s rate of 21.2 percent of homes under contract within two weeks in July, this year’s market is still seeing a marked improvement. According to Redfin, ‘Market speed over the past two years has slowed in July, with many homebuyers taking a break from the market for summer vacation. The seasonal effect is likely exaggerated this year, as Redfin agents across the country report that their clients have temporarily put their home searches on hold, feeling worn down by bidding wars involving as many as dozens of competing bids, not to mention rising interest rates.’ Market speed is anticipated to remain brisk in the coming months.   Fun facts about the Bay Area Market: -San Jose (Silicon Valley), California was the fastest moving market, reporting 44.7 percent of homes under contract within two weeks of their debut. -California boasts itself as home of six of the nation’s 10 fastest markets, with ncluding San Jose (#1) and San Francisco (#2) leading the pack.   For the full report visit...

S&P/Case Shiller Index Show Home Prices Continue Climbing in June

  The results are in! According to S&P/Case-ShillerHome Price Indexes, the leading measure of U.S. home prices, home prices continued to increase in June 2013. Specifically, the National index grew 7.1 percent in the second quarter and 10.1 percent over the last four quarters. The 10-city and 20-city composites posted returns of 2.2 percent for June and 11.9 percent and 12.1 percent over 12 months, respectively.   Needless to say, things continue to look up for the housing market, specifically in California, namely San Francisco. ‘The Southwest and California have consistently led the recovery with Las Vegas, Los Angeles, Phoenix and San Francisco posting at least 15 months of gains’ says David M. Blitzer, Chairman of the Index Committee at S&P Down Jones Indices. According to the reports, ‘Year-over-year, Las Vegas and San Francisco were the only two MSAs to post gains of over 20%.’   For the full report visit: S&P Dow Indices.    ...

FHA Shortens Waiting Period for Borrowers Who Experienced Foreclosure

Good news for many that are still trying to recover from personal financial crisis due to the housing market crash—the FHA is reducing the amount of time a borrower must wait in order to receive an FHA-insured mortgage. According to a new mortgagee letter from the Dept. of Housing and Urban Development, eligible borrowers (including those who experienced unemployment or other economic setbacks and lost their homes to a pre-foreclosure sale, deed-in-lieu, or foreclosure) can now receive an FHA-insured loan in as little in one year as opposed to the previous three. FHA is now considering borrowers who have experienced significant economic set backs and can document that: Certain credit impairments were the result of a loss of employment or a significant loss of Household Income beyond the borrower’s control; The borrower has demonstrated full recovery from the event; and, The borrower has completed housing counseling. The guidance in the mortgagee letter is applicable to purchase money mortgages in all FHA programs, with the exception of Home Equity Conversion Mortgages. The guidance in the mortgagee letter is applicable to purchase money mortgages in all FHA programs, with the exception of Home Equity Conversion Mortgages For Borrowers who are still ineligible for an FHA-insured mortgage due to FHA’s waiting period for bankruptcies, foreclosures, deeds-in-lieu, and short sales, as well as bad credit (including collections and judgments) may still be eligible for an FHA-insured mortgage if the borrower: Can document that the delinquencies and/or indications of derogatory credit are the result of an economic event as defined in the mortgagee letter, Has completed satisfactory housing counseling, as described in this ML,...

San Francisco Bay Area real estate market booming

According to an article from ABC News published Tuesday July 30, the Bay Area Real Estate market is currently booming. This bold claim was backed by the astounding figures published by the S&P/Case-Shiller index that ranks home prices in metropolitan cities. In the report, San Francisco home prices were cited as growing 25% in the last year; the biggest increase in seven years. That’s more than double the nationwide average of major cities. Read the full story...