BMR Resale - 106 W. Crystal Cove Terrace, San Francisco, CA 94134

Posting Date

August 14, 2017  **Updated 9/13/2017 with lottery results**

Program

Below Market Rate Inclusionary Housing Program

(Click here for program information)

Type of Unit

Condominium Unit

Unit Address (including city/state/zip code)

106 W. Crystal Cove Terrace, San Francisco, CA 94134

Selling Price

$368,638

Neighborhood and Map

Candlestick Point

Map It!

Number of Bedrooms

3

Number of Bathrooms

3

Square Footage

1575

Year Built

2009

Appliances Included in the Sale of the Unit 

Range, dishwasher, microwave

Building Amenities

Ask Agent

Parking

2 car garage (tandem) 1 on street

Monthly Homeowner Dues

$378.31

What the HOA Dues Cover

Water, landscaping, exterior maintenance

Covenants, Conditions & Restrictions (“CC&R’s”) for the building

To review the Covenants, Conditions & Restrictions for this building, please click here: CC&Rs

 

 

Income Level of Applicants

Applicants must make no more than the following amounts per household:

 

90% of Maximum Income by Household Size derived from the Unadjusted Area Median Income (AMI) for HUD Metro Fair Market Rent Area (HMFA) that contains San Francisco 2017

Household Size

Maximum Income at 80% of AMI

3

$93,400

4

$103,750

5

$112,050

6

$120,400

7

$128,650

 

 

(Households must be at least as many people as bedrooms in the unit. Please visit www.sfmohcd.org for larger households.)

 

Other Qualification Notes

Applicants must secure a loan preapproval and a final loan through a MOHCD Participating Lender who have an “X” marked under BMR.

 

All titleholders/borrowers must complete a first-time homebuyer workshop through one of the City’s 5 approved first-time homebuyer counseling agencies in order to apply. Please visit http://homeownershipsf.org/workshops for a schedule of upcoming classes. 

 

Verification of Homebuyer Education Completion or Certificate of Homebuyer Education from a MOHCD approved first-time homebuyer workshop is required.  Certificate of Homebuyer Education issued before May 1, 2015 is valid for 2 years from the date of issuance. Verification of Homebuyer Education Completion is valid for 1 year from the date of issuance. In the case of buyers receiving down payment assistance from the City, certificates must not be older than 6 months from the time of closing on the unit.

A copy of the mortgage loan pre-approval and homebuyer counseling certificate for every adult household member on loan and title to the BMR unit must be included with the BMR application.

 

Applicants are encouraged to apply for down payment assistance through the following programs.

 

 

 

 

  • Mortgage Credit Certificate (MCC) Program (can be combined with BMR-DALP for households earning 81% or above of AMI). There is a $675 application fee if applying for MCC.

 

  • Federal Home Loan Bank’s WISH program provides up to $15K in matching funds for down payment assistance.  Please ask your mortgage lender.

 

All MOHCD Participating Lenders should explore these options with BMR buyers.

Households must be as many people (or more) as number of bedrooms in the unit to apply.

See other qualification rules in the City and County of San Francisco Inclusionary Affordable Housing Program Monitoring and Procedures Manual 2013.

Contact Person (Realtor/Sales Agent)

eXp Realty of California, LLC, Susan Truax, Cal BRE# 01961497

Phone

415-691-7899

Email

suzyt@exprealty.com

Website

http://thesmartmove.io

How to Obtain an Application

Contact realtor or download from MOHCD website by clicking here.

 

Application deadline

Sept 5, 2017, 5pm

Note: Applications must be received in the sales office by 5pm on the day of the application deadline.

Sale Office Hours:

Address to which application should be mailed or delivered

Office: eXp Realty, LLC / Regus

Realtor Name: Suzy Truax

Address: 350 Rhode Island St Suite 240,

San Francisco, CA 94103

Attn: BMR Unit(s)

Applications must be received by the deadline. Post-marks will not be considered.

 

For Delivery, Office Hours are: 9:00 - 5:00

Lottery Date, Time, Location and Results

Date: Sept 13, 2017

Time: 11am

Location:

Mayor’s Office of Housing and Community Development

1 South Van Ness Avenue, 5th Floor

SF, CA 94103

Assigned Ticket #

LOTTERY RANK

3769256

1

3769252

2

3776574

3

3776565

4

3776575

5

3769249

6

3776573

7

3769263

8

3769259

9

3776570

10

3776555

 

3776556

 

3776557

 

3776558

 

3776559

 

3776560

 

3776561

 

3776562

 

3776563

 

3776564

 

3776566

 

3776567

 

3776568

 

3776569

 

3776571

 

3776572

 

3769242

 

3769243

 

3769244

 

3769245

 

3769246

 

3769247

 

3769250

 

3769251

 

3769253

 

3769254

 

3769255

 

3769257

 

3769258

 

3769260

 

3769261

 

3769262

 

3769264

 

3769265

 

3769266

 

3769267

 

3769268

 

3769269

 

3769270

 

3769271

 

Total of 50 tickets.  10 tickets were pulled.

Lottery preferences

All individuals and households may enter the lottery for a BMR unit.

 

However, those households in which one member holds a Certificate of Preference (COP) from the former San Francisco Redevelopment Agency will be given highest preference in the lottery ranking process. More information about the COP Program can be found here: http://sfmohcd.org/certificate-preference.

 

Households in which one member holds a Displaced Tenant Housing Preference (DTHP) Certificate from the Mayor’s Office of Housing and Community Development will be given second highest preference in the lottery ranking process, for up to 20% of the units in projects with at least 5 affordable units. DTHP certificate holders will also be included in the live/work preference regardless of their current live/work location. More information about the DTHP Program can be found here: http://sfmohcd.org/displaced-tenant-housing-preference-program-0.

 

Households that submit acceptable documentation that at least one member lives or works in San Francisco will be given the third highest preference in the lottery ranking process.

 

If the number of units available exceeds the number of qualified applicants in the above listed preference, the units will become available to other qualified applicants outside of San Francisco. Applicants in each preference category must meet program requirements in order to complete the sale or rental.

 

For more information about the lottery process and housing preferences, please refer to the MOHCD Housing Preferences and Lottery Procedures Manual.

Open Houses

Open House dates:

August 19th and 20th - 1pm to 4pm

Aug 24th -  6pm to 8pm

Aug 26th and 27th  -  1pm to 4pm

Special Note(s)

View this unit on the public Multiple Listing Service and on Craig’s List.

Procedures Manual

All potential buyers must review the Inclusionary Housing Procedures Manual that governs this property. 

Re-pricing Mechanism

A BMR unit will be resold at a restricted price to a household that meets the first‐time homebuyer and income qualifications for the program.  Upon resale, the unit will be repriced based on the change in median income over time. Please review Guidelines for Re-pricing BMR Units for specific information.