2008 San Francisco Condo Conversion Lottery - When? Where? How much?
- Tickets go on sale for the 2008 Condominium Conversion Lottery on Monday, November 26, 2007 at 8:15AM and can be purchased through Friday, January 25, 2008 (4:45 PM is the cut off time).
- Tickets can be purchased at 875 Stevenson Street, Room 460. The office is open from 8:15 AM to 4:45 PM M-F.
- Tickets cost $150 per building.
- The 2008 Condo Lottery Drawing is scheduled for 9:00AM on Wednesday, February 6 in Room 400 at City Hall.
- A winners list is available 7 days after the drawing.
- More details about the 2008 Condo Lotto can be found here.
2008 TIC Lending Update
2008 has been a tumultuous year for the mortgage industry. What started out as a "subprime" crisis has now spread to all types of mortgages, including those intended for well-qualified borrowers. It's now harder to qualify for a loan and many loan programs and lenders have disappeared. The good news is that fractional TIC loans have escaped relatively unscathed. They are still available at rates and terms similar to what was in place before the crisis hit. In addition, larger FHA loans have been introduced making them, for the first time, a viable option for group financing for TIC's.
Preparing for Mediation
by Paul Merlyn, Mediator, CID Resolution
Mediation is becoming an increasingly popular choice for dispute resolution, and its use in real estate disputes is no exception. Here are some cases that are typically suitable for mediation:
TIC Financing "Do's" and "Don'ts"
Many of my clients are first-time homebuyers. When we start the pre-approval process they usually tell me they're interested in looking at condominiums and single-family homes. However, it's often the case that our discussion ends up including TIC's as well.
TIC Mortgage Financing Expert Gordon Friedman Talks Shop
Buying a home in San Francisco is arguably one of the biggest –if not the biggest financial decision- most people make in their lives.
