by Gary Belk | Oct 31, 2013 | Blog, Musings |
by Gary Belk On Sunday evening we had the first windstorm of the season and it reminded me that winter is on the way. The Rain is coming! I moved this summer and I’ve not been in my current home during high wind. When the wind started I was having dinner with friends. We all looked at each other and wondered what was going on! I was amazed at the noise. My house needs new windows (on order) and I discovered the skylights need repairing or replacing. The gusty wind blew through cracks in my rotted windows and this forced the operable skylight to blow open and then slam shut. The garage door rattled with each gust and there were some old fiberglass panels in the garden (the garden also still in desperate shape) that rattled and knocked against the house. Needless to say it was a long night! I was glad when the wind calmed and I was finally able to sleep. After having lived for the past 4 years in big buildings; this windstorm reminded me that when you live in a small building or single family home you need to prepare for the rainy season. Here are a few tips to follow to help you prepare your home: Take a look at your gutters to make sure that they drain well and don’t cause water to back up. Make sure that there are not a lot of little granules from the roofing or leaves and other debris collecting in there (granules in your gutter are a sign that your roof’s coating needs to be resealed). Make...
by Gary Belk | Jul 21, 2011 | Blog, San Francisco Real Estate |
In San Francisco real estate, it’s hard to find investment property that will cash-flow positive or break-even. But with the decrease in property prices, low interest rates, and the increase in rental rates, it has now become possible. I have searched the San Francisco real estate for the best deals, and all of the properties I’m currently recommending are San Francisco condominiums that are in the ‘short sale’ process. A ‘short sale’ is a property sale where the proceeds fall short of the balance owed on the property. It typically occurs when an owner cannot make the mortgage payments on their property, but the lender decides that selling the property at a moderate loss is better than foreclosing, which involves hefty fees for the bank. The investment strategy for such properties will depend on your needs. San Francisco real estate has very significant upside potential and is being sold at levels well below value and in some cases close to prices that occurred in 2000. There are few new San Francisco condo construction projects scheduled to be built in the near future, so inventories should continue to decline and remain at close to absorption rate for several years. With the condo inventory decreasing, price increases should follow. I like San Francisco condos as an investment for several other reasons: San Francisco condos are not subject to the same rent control laws that San Francisco multi-unit buildings are encumbered with, so rents can be kept at market rate. San Francisco condos are usually easier to maintain as they have an HOA to maintain the grounds, exterior and other common structural...
