Berkeley going solar - city pays up front, recoups over 20 years

Carolyn Jones, Chronicle Staff Writer
SFGate, Friday, October 26, 2007 (Click here for article)

Regardless of what you think about Berkeley and/or global warming, I think everyone has to agree that this is a brilliant move by Berkeley in so many ways.

In essence, Berkeley will pay for homeowners to install solar panels (from selected vendors...they better be the best and be giving bulk rate prices!) and then put a 20-year assessment on the home. The assessment would be less than or equal to the utility savings. The city could charge less than market rate interest by securing low-interest bonds and loans.

This plan will:
- reduce imports of middle eastern oil.
- reduce pollution.
- stop our money from going to dictators in Venezuela, Iran, Saudi Arabia, etc.
- create good paying jobs.
- increase the pace of development in solar technology.
- increase home values and more!

The only thing I would add is that this is something that with a little more coordination the results could be even more tremendous...but it is a start.

CAR, NAR and all Realtors should get behind this and see if they can get their municipalities, localities, etc (if appropriate for your areas) to do the same. Imagine if the entire state of California did this. Or the entire nation? How much money could we save, pollution we could reduce and jobs and technology we could create!!

If I was a presidential candidate (on either side of the aisle) I would make Berkeley my next stop and make their plan on this issue a part of my campaign.

We need another JFK "Man to the moon" speech at Rice University in 1962 and Berkeley is showing the way.

Millennium Tower Update

This is from the Millennium Tower for today, Friday, October 26, 2007.

Call or email me if you would like to be put on the interest list for the Millennium Tower or if you would like any further information on this building or any others on sfcondomap.com.

Condominium Sales By District: September 2006 vs. September 2007

Fast Facts from the San Francisco Association of Realtors, 10/23/07.

Condominiums
District 1	September 2006	September 2007
Number of Sales	5	7
Median Selling Price	575,000	700,000
Average DOM	74	50
District 2	September 2006	September 2007
Number of Sales	1	2
Median Selling Price	949,000	703,500
Average DOM	39	57
District 3	September 2006	September 2007
Number of Sales	3	3
Median Selling Price	569,000	517,000
Average DOM	61	40
District 4	September 2006	September 2007
Number of Sales	5	3
Median Selling Price	580,000	411,000
Average DOM	44	38
District 5	September 2006	September 2007
Number of Sales	38	21
Median Selling Price	775,775	936,000
Average DOM	47	27
District 6	September 2006	September 2007
Number of Sales	14	16
Median Selling Price	667,000	752,500
Average DOM	50	45
District 7	September 2006	September 2007
Number of Sales	20	19
Median Selling Price	907,500	1,261,000
Average DOM	38	33
District 8	September 2006	September 2007
Number of Sales	19	16
Median Selling Price	625,000	612,500
Average DOM	53	38
District 9	September 2006	September 2007
Number of Sales	50	46
Median Selling Price	758,750	732,000
Average DOM	60	55
District 10	September 2006	September 2007
Number of Sales	5	3
Median Selling Price	514,000	480,000
Average DOM	76	51
District 11	September 2006	September 2007
Number of Sales	6	5
Median Selling Price	697,500	310,000
Average DOM	53	62

Where Is the Market Headed?

(Learn more about buying, selling and financing
real property. Click on the link to view video
features on contemporary real estate subjects.)

Earthquake Insurance: Is It Worth It?

By Marni Leff Kottle, Special to The Chronicle (October 21, 2007)
(Click here to read the article at SFGate)

The main points of this article are:
- Only 12% of California homeowners have earthquake coverage.
- It is "extraordinarily expensive" ($100-$200 or so a month for a $700,000 property).
- Most policies have a 10-15% deductible.
- For most, alternative is bolting the home to the foundation and reinforcing particular parts.
- In Loma Prieta 43,000 homes were damaged, 75% of them less than the deductible.
- Property built on bedrock better than landfill.
- The California Earthquake Authority (CEA) is the state agency that funds coverage.
- Insure for cost of rebuilding, not appraised value.
- "It makes sense to link insurance with your equity status."

To buy or not buy earthquake insurance is a personal decision. We do not have earthquake insurance, but we live in a single family home on bedrock that is bolted to the foundation.

Two things to look at when considering this are in the disclosure package you sign(ed) when buying property.

Report of Residential Building Report (3R)
In the 3R section 7 lists "Construction, conversion or alteration permits issued, if any". If you see anything for years 1989-1991, see if it looks like it could relate to work done due to damage from the Loma Prieta earthquake and ask about it.

Natural Hazards Disclosure Report
The NHDR is typically prepared by either JCP or Property ID. Click here to read more about the NHDR from JCP.

In the NHDR there is a map cover page that shows the various hazard zones in which the property is located. Check this out and then see if the property you are buying was built to meet the cities guidelines regarding the hazard in which it is located. The City does have building requirements that builders and developers have to meet for hazards such as earthquakes and others. Click here for the Department of Building Inspections page on earthquake preparedness, hazard maps, etc.

MY THOUGHTS: You should always check to make sure that the property you are buying has been built or retrofitted to meet current building codes which take into account the hazards relevant to the San Francisco Bay Area. Newer buildings and homes typically meet these standards. Many others have been retrofitted to provide better protection.

As always, call or email us for more information, to discuss this in more detail or to have us help you read the map for your property.

The Potrero Neighborhood Map

Single-Family Home Sales August 2006/2007

Fast Facts: From the San Francisco Association of Realtors (10/16/07)

Single-Family Homes
District 1	September 2006	September 2007
Number of Sales	18	19
Median Selling Price	1,150,000	1,075,000
Average DOM	33	29
District 2	September 2006	September 2007
Number of Sales	49	23
Median Selling Price	811,000	845,000
Average DOM	36	39
District 3	September 2006	September 2007
Number of Sales	18	11
Median Selling Price	719,500	688,000
Average DOM	29	35
District 4	September 2006	September 2007
Number of Sales	29	20
Median Selling Price	979,000	1,002,500
Average DOM	33	31
District 5	September 2006	September 2007
Number of Sales	33	15
Median Selling Price	1,195,000	1,200,000
Average DOM	42	30
District 6	September 2006	September 2007
Number of Sales	2	3
Median Selling Price	1,425,000	1,805,000
Average DOM	28	42
District 7	September 2006	September 2007
Number of Sales	8	6
Median Selling Price	2,192,500	3,082,500
Average DOM	48	49
District 8	September 2006	September 2007
Number of Sales	2	2
Median Selling Price	4,455,000	1,350,000
Average DOM	292	53
District 9	September 2006	September 2007
Number of Sales	21	15
Median Selling Price	835,000	875,000
Average DOM	36	29
District 10	September 2006	September 2007
Number of Sales	60	37
Median Selling Price	697,500	650,000
Average DOM	47	47
District 11	September 2006	September 2007
Number of Sales	38	10
Median Selling Price	734,050	643,000
Average DOM	36	88