Austin Klar warns San Francisco condo owners that new fire-code changes and retrofit mandates are adding hundreds of thousands in costs and crushing resale values. High-rise and multi-unit buildings face the biggest hit, with owners struggling to sell or refinance as lenders pull back.
San Francisco homeowners are getting hit with soul-crushing expenses and reality checks right now. Thousands of residents in high-rise buildings are about to be charged hundreds of thousands of dollars and be displaced from their homes to comply with recent changes to San Francisco's fire code. And there are a number of other retrofit requirements, inspection mandates, lender restrictions, and other HOA-related issues that are hammering owners across the city right now, dragging down what's already been a stalled resale market for the past several years. And it's not just owners in high-rise buildings. These affect other multi-unit buildings, 2 or 3 unit, you know, closely held HOAs, apartment buildings, TICs, you name it. I made a YouTube video going over some recent legal changes and practical considerations that are costing San Francisco homeowners dearly, not only in terms of money, but also significant time and headache and crushing realistic prospects of resale at maximum value. Comment the word video and I'll DM you a link and follow me for more San Francisco real estate.
