Category Archives: For Sale in San Francisco

Happy 2021!!!

Where do you want to be in 2021?

“Wait,” you may say, “We just got to 2016, Cynthia!”

Yet when you’re looking back to today from 2021, you’ll be glad you made a five-year plan.

“Ugh,” you think, “that’ll take a lot of effort and I have plenty of stuff to do already.”

How about if it’s easy? What if you could pinpoint the highlights of a five-year plan in only five minutes? Want to try?

 You’ll need a clock or timer and a way to record a few things in writing.

First, sit down and take one minute to tune into your breathing. Scan your body from head to toe, feel your weight in your chair and notice the sense of calm that arises.

Spend the next minute imagining how you want to feel in 2021. Scan your body again. Notice your jaw, your chest, your hands, your abdomen. What is the predominant feeling?

Then, answer these three prompts, taking one minute to write your reply to each. Write down the first things that pop into your mind, whether they make sense or not.

  1. It’s 2021 and every time I enter the front door, my home feels like _______________________________.
  2. It’s 2021 and when I wake each morning (or go to sleep each night) I _____________________________.
  3. It’s 2021 and I am so grateful that, five years ago, I chose to _________________________.

Sometimes, we are surprised by the answers this exercise can provoke. Sometimes, it merely confirms what we already know.

Whatever surfaces, I can help you translate it into a tangible plan. In a one-hour consultation, we can tease out your wishes and priorities, then create a detailed map and timeline for how to answer your questions and achieve your goals.

or 415.713.8008. We’ll have tea.

Cynthia Cummins is a Top Producer and Partner at McGuire. For info on SF real estate visit http://CynthiaCummins.com.

How Icebergs Are Like Realtors

So, you’ve been selling San Francisco real estate for almost 29 years. You’ve embraced the changes: Learning to gather signatures electronically rather than in person. Trading the 5-pound Multiple Listing book inked on newsprint for an online search site. Wielding an electronic lockbox key rather than twisting the dial of a combination lock.

You’ve learned how to avoid trouble for your clients. Unlike a lot of newbies, you understand what the Liquidated Damages clause in the SFAR contract means. Just as you know the Real Estate Transfer Disclosure loophole hasn’t been cinched until your Agent’s Visual Inspection Disclosure is signed.

You know to warn all your clients that something surprising almost always goes wrong with an escrow. “It’s not a matter of if,” you say, sagely, “It’s a matter of when and what.”

And then the federal government passes new legislation about lending disclosures. This new law is designed to protect consumers. (As if improved Truth In Lending documentation – rather than sweeping reform of the banking and credit system – will prevent another economic meltdown.)

For months before its October 2015 debut, the San Francisco Association of Realtors warns of the impending arrival of the TILA/RESPA Integrated Disclosure (TRID) Rule. Seminars are held. Bulletins are posted. One title company gives everyone a plastic Frisbee-sized wheel for determining “Consummation Dates.”

TRID wheel

But this is all meaningless until you actually see a transaction through:

You make your closing a week longer than normal, to allow for TRID’s 3-day waiting period and Murphy’s Law. You explain to your Buyer that he will be among the first TRID guinea pigs.

You powwow in advance with Seller’s Agent, just to be sure she will explain to Seller that things could get weird. Seller’s Agent says it’s all cool. She and Seller will hang loose, even though Seller has another closing that hinges on this one. There’s enough spaciousness for a small delay, she says.

The loan is approved.

Title gathers all the info needed to close both sides of the deal. This includes property taxes, homeowners dues, move-in fees, move-out fees, HO-6 insurance, prepaid interest, loan fees, credits, commissions, city fees, transfer taxes, home warranty plans and so forth.

Lender takes all the detail supplied by Title and translates it into a federally-mandated format which Buyer must review and approve before the 3-day waiting period begins. Easy, right?

Wrong.

When doing their transcription, Lender mistakenly gives Buyer an $18,000 credit from Seller. Lender also omits Title Insurance Premium and forgets to fill in Prepaid Property Taxes. Altogether, this creates a $25,000 shortfall on Cash Due at Closing.

Buyer receives the form and calls you. He is delighted that he doesn’t have to come up with as much money as he’d anticipated. The amount is $25,000 less than he’d estimated. He’s going to call Schwab and reduce the amount of his wire. How fantastic is that?!?

Wait a minute, you say. You say this because your spidey sense tells you something ain’t right. Plus you’re keenly aware that, under the new regulations, any material change to the TRID disclosure kicks off another 3-day waiting period. Which delays loan documents. Which delays closing. Which damages Seller. Which costs Buyer. Which is your fiduciary obligation to prevent.

So you start investigating. And – after a day of confusing back and forth with Lender and Title and Seller’s Agent – you find the errors and get them corrected. The transaction closes on time. Everyone is happy.

You add this experience to your Iceberg. As in:

A lot of people think what we Realtors do is easy. They think we drive around in nice cars and look at pretty houses and get our clients to sign some papers and – voila – we’re paid a gazillion dollars.

A real estate agent is like an iceberg (as SF real-estate-guru Ray Brown famously said). Folks can only see a tiny portion of what he or she does and knows. The true mass of the Iceberg is invisible. And GINORMOUS. And it’s made up of tons of ice crystals, each one consisting of a tale akin to the TRID saga (which I’ve boiled down to a succinct outline).

It’s impossible for agents to fully convey to potential clients their value and depth. To do so would be as time-consuming, boring and futile as rowing a dinghy down to Antarctica and saying, “Here. Check out this iceberg. You can only see 5% of it but, trust me, what’s out of sight is quite impressive!”

Cynthia Cummins is a Top Producer and Partner at McGuire. For info on SF real estate visit http://CynthiaCummins.com. This article was re-posted at McGuire.com.

20090115_0730. Licensed under CC BY-SA 2.0 via Commons - https://commons.wikimedia.org/wiki/File:Snowflake_-_Microphotograph_by_artgeek.jpg#/media/File:Snowflake_-_Microphotograph_by_artgeek.jpg

Merry and Bright. And White.

You might think you’re in heaven. OR some Hollywood version of it. Like at any moment Morgan Freeman will invite you to choose your harp, pull up a cloud and start plucking.

Or you might think you’re in an Apple store. Reaching blindly for your sunglasses in order to mitigate the bright, shiny, squeaky clean, sci-fi-spaceship environment.

Naturally, this current San Francisco home décor trend is most clearly displayed in the kitchen. It’s the heart of any home and the room that speaks loudest about its inhabitants’ taste and style.

In the early 80s we got “European” cabinetry. Off-white matte cabinet faces with a plain oak strip like a Scrabble easel at the bottom.

In the late 80s and early 90s everything became pickled, “distressed” and colored in pleasing pastels of baby blue, fresh peach and nursery pink.

In the years astride the Millennium, we saw a resurgence of hominess: Maple or cherry cabinets with Shaker lines, hulking KitchenAid mixers, and Wolf ranges so big you could roast your grandmother.

Over those decades, walls went from off-white to pale lilac to heritage golds and reds. And now? My house-painter partner hasn’t had to do much color matching over the last two years. It’s been a matter of WHICH WHITE –Simply White, Super White, Moonlight White, Linen White, Ultra Pure White, Alpine White or Frostline.

And why white? Some say it reflects the tech buyer’s conscious (or subconscious) preference to eliminate the distinction between life at work and life at home. White walls, white cabinets and white Carrera marble on a 10-foot long island that mimics a jumbo conference table.

Add nano windows and some wide-plank oak floors, and you’ve got a style so popular and au courant it’ll be passé faster than you can say “bubble.”

I can hear it now. My 2020 buyers will sigh and start doing the math. “Oh, well,” they’ll say, “The basic plan is okay. If we can get it at the right price, we can afford to remodel in a couple of years.”

Cynthia Cummins is a Top Producer and Partner at McGuire. For info on SF real estate visit http://CynthiaCummins.com. This article was re-posted at McGuire.com.

Katie Scarlett, Better Call Off the Stager

You’ve seen that movie: There’s a horrible crisis and a character is obsessing about some silly, irrelevant and possibly symbolic detail?

Scarlett O’Hara’s dad, for example. In Gone With The Wind. Scarlett has just come home to Tara after delivering Melanie’s baby and escaping Atlanta on fire and hiding from marauding Yankees only to learn that her mother has died. The mansion needs some serious cleaning and renovation, but her grief-stricken dad just stares at his deceased wife’s sewing box and mutters to himself.

What I mean to say is it’s normal to pay attention to the “wrong” things in the midst of a real estate transaction. For example, I’ve witnessed:

  • The market debut of a $4 million home delayed for crucial weeks by seller’s wish for Salvation Army to accept an antique sideboard for donation.
  • A closing delayed by a dispute over whether or not a countertop microwave is included in the sale.
  • An offer failing because a buyer wants a one-day inspection clause on a developer-warranted all-new house

Smart sellers and buyers need to ask their agents “Is there anything I’m doing or choosing to focus on that is sabotaging my chances for success?” Clever clients should insist their agents muster the courage to be brutally frank. That’s because, sometimes – in the name of pleasing the client and choosing battles wisely – an agent is reluctant to speak up.

This arises most often in the midst of clearing out a house in preparation for market. Longtime owners get mired in the marsh of socks, scarves, old Christmas cards, tchotchkes and – most insidious of all – books. Meanwhile, the market for a $2 million condo is slipping away as seller deliberates over whether Zen and the Art of Motorcycle Maintenance should be given to a grandson, sold at Green Apple Books or donated.

Here’s where the smart and caring agent shows up with resources and tips to liberate the seller from the swamp of stuff – both literal and psychological. In my years as a Realtor, I have collected many proverbial ropes and winches to free clients from the muck. One of these days I’ll share some here.

In the meantime, contact me if you’d like some new purging, cleaning and decluttering tips.

 

Suffering from Real Estate Depression?

Yes. Real estate depression is a Real Thang. Lisa Selin Davis, a writer for Realtor.com, has personally suffered the pangs of regret over not buying at the “right” time. And like many would-be buyers, she sought solace for her distress.

She interviewed me, and we talked a long time about archetypes, self soothing and the value of wanting what you already have. Check out her story, “Suffering From Real Estate Depression? Here’s the Cure,” just published on Tuesday.

Cynthia Cummins is a Top Producer and Partner at McGuire. For info on SF real estate visit http://CynthiaCummins.com. This article was re-posted at McGuire.com.

Tangerine Dreaming

Love or loathe ‘em, property websites and glossy photography are an integral part of San Francisco real estate marketing hubba hubba. Bad photos are bad for business. (No photos are worse.)

Some gorgeous houses are simply not photogenic, no matter how many angles and lenses are employed.

And some photos make dowdy houses seem entrancing. A good reason why online shopping can’t entirely replace in-person viewing.

Whether I’m representing buyers or sellers, I spend inordinate amounts of time clicking and swiping through images. If you’ve seen one nighttime pano-view shot, you’ve seen them all.

But every now and then, a photo really jumps out and makes me smile. This was the case this week with a shot that Open Homes Photography captured for my new listing, 1099 23rd Street #4.

05

The architect-designer owner chose art, paint and furnishings that set a striking tone. When you first enter the live-work loft, the entrance really grabs you and tells you this isn’t your usual Dogpatch loft. The photo fully conveys its drama.

I love the tangerine square, the narrowing perspective and the geometry of the photograph. It’s even better “live in person.” Come see for yourself this weekend. Click here for website and schedule.

Cynthia Cummins is a Top Producer and Partner at McGuire. For info on SF real estate visit http://CynthiaCummins.com. This article was re-posted at McGuire.com.