The San Francisco transfer tax is changing TOMORROW, December 17th.
The Transfer tax has INCREASED when a sale price is over $5,000,000.00
There is also an increase if a sale price is over $10,000,000.00.
The new rates are as follows:
More than $100, but less than or equal to $250K- $5/$1000.
More than $250K, but less than $1,000,000.00- $6.80/$1000.
$1,000,000.or more, but less thank $5,000,000.- $7.50/$1000
$5,000,000 or more but less than $10,000,000- $20/$1000
$10,000,000 or More – $25 or more.
Local Artists' Work Create Conversation Pieces at an Otherwise Vacant Home for Sale
In the peak of the market, houses seemed to be selling themselves. Front doors opened and floods of buyers streamed in, and decided overnight, if they should write an offer or not. Today, in one of the worst real estate markets in memory, agents jostle, juggle and position their properties to get the attention of too few buyers. In San Francisco’s last downturn, I recall frequent flier miles, Jaguars and furniture thrown in to the price to entice a buyer. Today, Listing Agents are paying Selling Agents higher commissions for bringing buyers to the table; lunches for agents on broker’s tour is commonplace. Twilight tours by candlelight are hosted to draw traffic. Wine and cheese parties have become ubiquitous.
I noticed that my artist friends couldn’t find galleries to show their work, and sales on discretionary items such as art, is down as well. I started hosting art shows in empty homes to create interest for the house, act as staging and hopefully generate sales for the artists. My friend Jennifer Davis was out visiting from New York and saw one of my art shows. Shortly thereafter, this piece ran in the NY Daily News titled A Real Art House. Enjoy!