Today President Bush signed the “Housing and Economic Recovery Act of 2008.” So, you ask? What’s in it for me? Well, let’s see. There are several provisions in the bill that can affect anyone, not just someone facing foreclosure.

Raising of the Conforming Loan Limit to $625,000

What? It’s not $729,750? That’s right. That was just temporary. Although it would have been nice to see the permanent conforming loan limit raised to this temporary amount, it’s safe to say that $625,000 is wonderful. How does this affect you? Well, for starters, if you are indeed a homeowner in the San Francisco Bay Area, this can affect you immensely. The fact that the loan limit will now permanently be $625,000 brings a larger pool of potential buyers for properties that are more than $650,000. We know that, in San Francisco, $650,000 can maybe buy you a small, decent, one-bedroom condo in a desirable area. While this is good for the buyer, of course, it also means that there will be more buyers which means that the demand will increase. If you are a homeowner, you can expect to see your property value increase due to the increase in qualified buyers.

First-Time Home Buyer Tax Credit (more…)

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The Festival of Sail started on Wednesday, July 23rd with the Parade of Sail. Hundreds of water craft including over 35 tall ships sailed under the Golden Gate into The San Francisco Bay on Wednesday to kick of The Festival of Sail that went on until Sunday, July 27th. Three villages were set up along the San Francisco Waterfront. (more…)

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What a grand day for the residents of the Marina District. The George Moscone Recreation Center was reopened, and what an event it was. The project was 8 million dollars and took a total of 18 months to complete. At the event were several individuals who took part in making sure this magnificent project would come to fruition. General Manager of Park and Rec, Yomi Agunbiade, spoke about the project prior to the ribbon cutting. Supervisor Alioto-Pier was in attendance along with Park and Rec Commissioner Tom Harrison, Northern District Police Captain Al Casciato, Park and Rec Supervisor Joseph Figone, Park and Rec Director of Communications and Public Affairs, Rose Marie Dennis, among others. (more…)

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