San Francisco Real Estate - Residential

Things to do in San Francisco Recap - 21-40

By now you should be getting the idea that there are LOTS of things to do when visiting or living in San Francisco!

- Mick Orton, Marketing Director

Part 21 - Yerba Buena Ice Skating & Bowling Center, Part 22 - 49-mile Scenic Drive, Part 23 - Segway San Francisco Electric Tour, Part 24 - Vesuvio, Part 25 - Haight-Ashbury Street Fair, Part 26 - Wyland Galleries, Part 27 - Metreon, Part 28 - Angel Island, Part 29 - San Francisco Fire Engine Tours & Adventures, Part 30 - Aquarium of the Bay, Part 31 - Haas-Lilienthal House, Part 32 - San Francisco Zoo, Part 33 - Stow Lake Boat & Bike Rentals, Part 34 - Ghirardelli Square Chocolate Festival, Part 35 - Kertesz Fine Art Gallery, Part 36 - City Hall, Part 37 - SS Jeremiah O'Brien, Part 38 - Saints Peter and Paul Church, Part 39 - San Francisco-Oakland Bay Bridge, Part 40 - GoCar Rentals
Parts 1 - 20

posted by SFResidence.com @ 10:06 PM 0 comments

Fast Facts from CAR and Freddie Mac - January 2008

Calif. median home price - January 08: $430,370 (Source: C.A.R.) (note: compared to $475,460 last month)

Calif. highest median home price by C.A.R. region January 08: Santa Barbara So. Coast $1,135,000 (Source: C.A.R.) (note: compared to $925,000 last month)

Calif. lowest median home price by C.A.R. region January 08: High Desert $234,310 (Source: C.A.R.) (note: compared to $244,330 last month)

Calif. First-time Buyer Affordability Index - Third Quarter 07: 33 percent (Source: C.A.R.) (note: compared to 07: 24 third quarter)

Mortgage rates - week ending 01/24:

• 30-yr. fixed: 5.48%; Fees/points: 0.4% (note: compared to 5.48% and 0.4% points last report)
• 15-yr. fixed: 4.95%; Fees/points: 0.4% (note: compared to 4.95% and 0.4% points last report)
• 1-yr. adjustable: 4.99%; Fees/points: 0.6% (note: compared to 4.99% and 0.6% points last report)- California Association of Realtors & Freddie Mac

- California Association of Realtors & Freddie Mac

Check our monthly sales updates to compare San Francisco real estate prices versus the state of California as a whole! We also provide weekly updates on this blog as well as our website.

- Janis Stone

posted by SFResidence.com @ 8:03 PM 0 comments

TRI Coldwell Banker San Francisco real estate statistics - last week in review

SFResidence is part of the TRI Coldwell Banker office at 1699 Van Ness in San Francisco which is one of the premier offices in the City and has the market share numbers to prove it. We have some of the top agents selling real estate in the San Francisco Bay Area. As a result, our office posts some impressive numbers.

It looks like buyers are starting to wake up. Maybe it's because the stock market is picking up steam, maybe it's the sunny weather or maybe it's just a change in attitude. Personally I think it may be that the constant drumbeat of negativity from the press has finally drained everyone's emotional reserves, and people are realizing that it is just not that bad to be living in the United States... no matter WHO is president!

At today's meeting there were a lot of new listings being announced as coming on the market in the next few weeks, so things could really start to heat up.

Here are the numbers posted this week: 2/27/08:

• 6 new listings (average price $1,334,000- low $549,000, high $2,800,000)
  
• 13 ratified sales (pending) (average price $1,132,615- low $395,000, high $2,895,000)
  
• 7 closed sales (sold) (average price $2,402,500 - low $690,000, high $8,500,000)
  
• 1 reduced price (price $1,699,000)

- Mick Orton
Marketing Director

posted by SFResidence.com @ 12:25 PM 0 comments

San Francisco Real Estate Market Update for the week of February 17, 2008

Read what Rick Turley, President of Coldwell Banker, San Francisco/Peninsula says in his latest weekly report:

Economic news was sketchy again this week, with housing-related headlines continuing to point out the scary negatives. Fortunately, we continue to see a surprising amount of interest from buyers who are deciding to take the plunge. Really, the deals that are out there are getting to be irresistible, and with mortgage rates starting to creep back up (though still at near historic lows) buyers are recognizing that now really just may be the best time to buy.

Sales are increasing in all price ranges in many areas, and it is perhaps the passing of the economic stimulus package that is spurring these buyers into bringing their checkbooks with them when they’re looking at properties. Buyers are also being properly educated by the real estate industry and doing their research – not just being scared by skewed headlines. Now they’re jumping in while the deals are out there. We are also starting to see homes that have been on the market for quite awhile starting to get multiple offers and selling. First time buyers are also finding affordable, desirable homes in lower price ranges and through REO sales – and they’re buying them. It is not uncommon now to see multiple offers on REO's...

Read the entire report here.

- Rick Turley

* For an e-mail alert when this report is updated, send an e-mail to info@SFResidence.com with "weekly market report" in the subject line.

posted by SFResidence.com @ 2:09 PM 0 comments

Mortgage Weekly Update - Last Week in Review

Foster Weeks publishes a weekly mortgage report which is updated every Monday morning. How is this affecting the San Francisco real estate market? Read our weekly and monthly market reports.

"AH SUGAR...AH HONEY HONEY" The Archie's made this the top song of 1969, and in fact, it was the only song recorded by a fictional band to ever reach #1. And like a child who has been overloaded on candy, Bonds have been "bouncing off the walls", and appear all "sugared up".

Bond prices and home loan rates swung wildly all of last week. Mortgage Bonds bounced around so dramatically, that home loan rates changed as much as a quarter percent during a single day, on two separate occasions last week. After all the exhausting action, home loan rates worsened by about .25% for the week overall.

Bonds hate inflation because over time, it erodes the purchasing power of the fixed rate of return they provide. And when consumer inflation was reported at its highest level in years, Bonds were hit hard. But some weak data on both Housing and Manufacturing, along with some sweet comments from the Fed, helped pour some sugar on Bonds as they rallied back and improved...

Read the entire report here.

- Foster Weeks

posted by SFResidence.com @ 8:36 AM 0 comments

Things to do in San Francisco - Part 53 - Wok Wiz Chinatown Tours and Cooking Company

Yahoo Travel says this about the Wok Wiz Chinatown Tours and Cooking Company:

Acclaimed chef and cookbook author Shirley Wong Torres offers an insider tour of Chinatown. You can take a tour that stops at markets and restaurants known only to Chinatown experts. In addition, specialized tours focusing on the food and history of Chinatown can be arranged. Tour dates and times vary, call ahead for information and reservations.

Neighborhood: Chinatown

654 Commercial Street
San Francisco, CA 94111-2504

+1 650 355 9657
wokwiz@aol.com

Open Hours Tours: 10a-1:15p M-Su
http://www.wokwiz.com

- Christine Serventi

Previous things to do:

Parts 1 - 20, Parts 21-40, Part 41 - Cable Car Museum, Part 42 - Transamerica Pyramid, Part 43 - Camera Obscura and Holographic Gallery, Part 44 - Moscone Center, Part 45 - Barbary Coast Trail Self-Guided Walking Tour, Part 46 - Fort Mason, Part 47 - Blue & Gold Fleet, Part 48 - Cherry Blossom Festival, Part 49 - Flower Power Haight-Ashbury Walking Tour, Part 50 - Lincoln Park Golf Course, Part 51 - HANG, Part 52 - Strybing Arboretum & Botanical Gardens

posted by SFResidence.com @ 9:54 AM 0 comments

San Francisco Real Estate Market Update for the week of February 10, 2008

Read what Rick Turley, President of Coldwell Banker, San Francisco/Peninsula says in his latest weekly report:

It has been a big week for real estate news. The National Association of Realtors, DataQuick Information Services, Standard & Poor Case/Schiller, the Mortgage Bankers Association, and even Zillow.com, among several others, bombarded us with indexes, surveys, lists and reports. Filtered through the media, the headlines were, of course, mostly negative – but there were nuggets of positivism in many of the articles. You just had to mine deep within the articles to find them. Lawrence Yun, Chief Economist for the N.A.R. expressed it best by saying, “Those pessimistic thoughts are being driven by media outlets that tend to cherry pick data and experts to perpetuate the story that the economy is heading into recession.” He also stressed that, despite the value of national housing data, all real estate is local and consumers should base their decisions on local trends.

The biggest positive news nugget was that President Bush signed the economic stimulus package into law. One component of the package includes a temporary (through December of this year) increase in the conforming loan limit set by Fannie Mae, Freddie Mac and the FHA. The change increases the limit from $417,000 up to as much as $729,950 based on the median price of a given metropolitan area and local market. This is a great bonus to buyers in the greater Bay Area where our median price maxes out the new limit easily in many areas.

The anticipation of this truly necessary change in the conforming loan limits is, I believe, what has spurred so many buyers to be out looking at our more than 460 open houses with such gusto. Every single office reported successful opens this week. People were “out in droves” in Castro Valley. 85 groups visited a new Berkeley Hills listing. . .

Read the entire report here.

- Rick Turley

* For an e-mail alert when this report is updated, send an e-mail to info@SFResidence.com with "weekly market report" in the subject line.

posted by SFResidence.com @ 9:52 AM 0 comments

Mortgage Weekly Update - Last Week in Review

Foster Weeks publishes a weekly mortgage report which is updated every Monday morning. How is this affecting the San Francisco real estate market? Read our weekly and monthly market reports.

"CUTS LIKE A KNIFE, BUT IT FEELS SO RIGHT" Bryan Adams And financial pros will tell you it's wise to never try and catch a falling knife. Seems like decent advice in general - but in the financial world, it means that when the price of a Stock or Bond is in the midst of a severe decline, be very cautious about stepping in to buy...even if it feels so right because the price starts to look cheap. That's because when prices declines sharply, it often gets even worse, making it hard to call the bottom. That's why many investors, who attempt to buy on the way down, say the feeling cuts like a knife. And over the past week - Bonds have been dropping much like a knife, and home loan rates have risen by about .25% across the board.

And speaking of sharp objects, Cupid's arrows might have been flying around everywhere last week - but little love came calling for the Bond market. First, Retail Sales for January were far better than expected - which was good news for Stocks, but as money flowed into Stocks, pulled money out of Bonds and caused Bond prices to move lower. Next, Fed Chairman Ben Bernanke gave it to us straight from the heart, as he testified that the Fed would keep the door open to more rate cuts, which worried Bond Traders about the risk of more inflation ahead. And unlike the media seems to believe, cuts to the Fed Funds Rate generally cause home loan rates to rise, not decline. Why? Because Fed Rate Cuts can spur on more inflation, as it becomes less expensive to finance business and personal purchases. And as a result, inflation erodes the value of the fixed return provided by a Bond - so in the face of inflation, Bond prices fall, and home loan rates rise...

Read the entire report here.

- Foster Weeks

posted by SFResidence.com @ 10:41 AM 0 comments

Things to do in San Francisco - Part 52 - Strybing Arboretum & Botanical Gardens

Yahoo Travel says this about Strybing Arboretum & Botanical Gardens:

This is a living museum in Golden Gate Park that is home to a wide array of rare and exotic plant life from around the world. Visit the 70-acre garden and explore seemingly endless trails past duck ponds, an arbor, herbs, flowers, blooming trees and redwoods, and smaller, specialized gardens with names like the Garden of Fragrance. Also on hand is an education center that provides different gardening, horticulture, botany, and environmental classes for adults and children, plus a horticulture library and bookstore. The public is allowed to stroll through the garden anytime, although they are asked to keep on the paths.

Neighborhood: Golden Gate Park

9th Avenue at Lincoln Way
San Francisco, CA 94122

+1 415 661 1316
library@sfbotanicalgarden.org

Open Hours 8a-4:30p M-F, 10a-5p Sa, Su
http://www.sfbotanicalgarden.org/

- Christine Serventi

Previous things to do:

Parts 1 - 20, Parts 21-40, Part 41 - Cable Car Museum, Part 42 - Transamerica Pyramid, Part 43 - Camera Obscura and Holographic Gallery, Part 44 - Moscone Center, Part 45 - Barbary Coast Trail Self-Guided Walking Tour, Part 46 - Fort Mason, Part 47 - Blue & Gold Fleet, Part 48 - Cherry Blossom Festival, Part 49 - Flower Power Haight-Ashbury Walking Tour, Part 50 - Lincoln Park Golf Course, Part 51 - HANG

posted by SFResidence.com @ 2:37 PM 0 comments

TRI Coldwell Banker San Francisco real estate statistics - last week in review

SFResidence is part of the TRI Coldwell Banker office at 1699 Van Ness in San Francisco which is one of the premier offices in the City and has the market share numbers to prove it. We have some of the top agents selling real estate in the San Francisco Bay Area. As a result, our office posts some impressive numbers.

This week it appears as if Buyer activity is up, and we have heard of few multiple offers within the city. The pickings still appear to be slim, but agents in our office did announce a number of new listings coming on the market in a few days.

Here are the numbers posted this week: 2/13/08:

• 4 new listings (average price $2,579,500- low $625,000, high $6,995,000)

• 8 ratified sales (pending) (average price $2,200,113- low $499,000, high $8,975,000)

• 4 closed sales (sold) (average price $2,496,156 - low $872,500, high $2,012,122)

• 1 reduced price (price $3,800,000)

- Christine Serventi

posted by SFResidence.com @ 12:25 PM 0 comments

San Francisco Real Estate Market Update for the week of February 3, 2008

Read what Rick Turley, President of Coldwell Banker, San Francisco/Peninsula says in his latest weekly report:

Again, we saw a week of very busy open homes in practically every area. Historically, Super Bowl weekend is fairly calm, but we saw large numbers of groups moving through our more than 330 open homes in all prices ranges on both Saturday and Sunday.

It’s a good move on the part of those buyers to be actively looking for the perfect home right now. The wide selection of homes to choose from remains excellent in many areas, but a recent report from the National Association of Realtors says that the number of existing homes on the market is starting to see a steady month-over-month decline.

Moreover, we are only one stroke of one pen away from seeing the F.H.A., Fannie Mae and Freddie Mac venture into jumbo loan territory. Optimism is rampant.

In Danville, inventory decreased in the market and an increase in sales activity. Inventory in Berkeley, Albany and Kensington areas are very low. R.E.O. properties in Livermore are generating multiple offers. In Oakland, when properties are perceived as values, they are generating five and more multiple offers. In Burlingame, great homes in all price ranges are garnering multiple offers. Menlo Park saw three sales over $6.5 million, and a $1.4 million property received six offers without even going on tour. San Francisco is also seeing a return to multiple offers in many neighborhoods, and the City has noticed a stabilization of inventory and an increase in the buyer population. There are as many stories about the listing the Buyers didn't get due to competition, as there are regarding properties that are taking a while to sell. Price and condition are key...

Read the entire report here.

- Rick Turley

* For an e-mail alert when this report is updated, send an e-mail to info@SFResidence.com with "weekly market report" in the subject line.

posted by SFResidence.com @ 12:18 PM 0 comments

Mortgage Weekly Update - Last Week in Review

Foster Weeks publishes a weekly mortgage report which is updated every Monday morning. How is this affecting the San Francisco real estate market? Read our weekly and monthly market reports.

"LOOSE LIPS SINK SHIPS." Slogan from World War II Not just clever words of good advice, this phrase was actually part of the US Office of War Information's attempt to limit the possibility of people inadvertently giving useful information to enemy spies. Now fast forward to present time, as Dallas Fed President Richard "Loose Lips" Fisher's careless comments last week worked to sink the Bond market, and caused home loan rates to rise about .125%.

Fisher lived up to his nickname last week, almost uncontrollably blurting out off-topic comments and rhetoric during his speech in Mexico City, and roiling the financial markets every step of the way. Long recognized as an "inflation hawk", he was the lone dissenter against the .50% cut to the Fed Funds Rate on January 30th.

Fisher stated, "Monetary policy acts with a lag. I liken it to a good single malt whiskey or perhaps truly great tequila: It takes time before you feel its full effect. The Fed has to be very careful now to add just the right amount of stimulus to the punchbowl without mixing in the potential to juice up inflation once the effect of the new punch kicks in. ...My dissenting vote last week was simply a difference of opinion about how far and how fast we might re-spike the monetary punchbowl. Given that I had yet to see mitigation in inflation and inflationary expectations from their current high levels...I simply did not feel it was the proper time to support additional monetary accommodation."...

Read the entire report here.

- Foster Weeks

posted by SFResidence.com @ 10:44 AM 0 comments

Things to do in San Francisco - Part 51 - HANG

Yahoo Travel says this about HANG:

The objective of this gallery near Union Square is to link emerging artists with emerging collectors. Within the modern floor space of steel and canvas this place features work by the best up coming talent in the Bay area at reasonable prices. Find a wide range of styles that are continually rotated. A great choice for young and/or new art connoisseurs, this gallery offers a rental program so buyers can be 100 percent sure they want a piece before they make the commitment. A rewarding experience all-around; unknown artists receive the exposure they deserve, while patrons view art in a pleasant and casual environment.

Neighborhood: Union Square

556 & 567 Sutter Street
San Francisco, CA 94104-4901

+1 415 434 4264
sales@hangart.com

Open Hours 10a-6p M-Sa, noon-5p Su
http://www.hangart.com/

- Christine Serventi

Previous things to do:

Parts 1 - 20, Parts 21-40, Part 41 - Cable Car Museum, Part 42 - Transamerica Pyramid, Part 43 - Camera Obscura and Holographic Gallery, Part 44 - Moscone Center, Part 45 - Barbary Coast Trail Self-Guided Walking Tour, Part 46 - Fort Mason, Part 47 - Blue & Gold Fleet, Part 48 - Cherry Blossom Festival, Part 49 - Flower Power Haight-Ashbury Walking Tour, Part 50 - Lincoln Park Golf Course

posted by SFResidence.com @ 12:10 PM 0 comments

TRI Coldwell Banker San Francisco real estate statistics - last week in review

SFResidence is part of the TRI Coldwell Banker office at 1699 Van Ness in San Francisco which is one of the premier offices in the City and has the market share numbers to prove it. We have some of the top agents selling real estate in the San Francisco Bay Area. As a result, our office posts some impressive numbers.

Potential buyers are still out attending open houses and seem to be realizing this is a great time to buy. According to the numbers posted this week, inventory seems to be low in comparison to last year but many agents have annouced a number of new listings coming on the market soon.

Here are the numbers posted this week: 2/6/08:

• 5 new listings (average price $1,018,000 - low $799,000, high $1,295,000 with one listing price to be determined)

• 6 ratified sales (pending) (average price $2,290,500 - low $599,000, high $8,500,000)
  
• 1 closed sale (sold) (average price $1,750,000)

• 1 reduced price (price $399,000)

- Christine Serventi

posted by SFResidence.com @ 12:14 PM 0 comments

San Francisco Real Estate Market Update for the week of January 27, 2008

Read what Rick Turley, President of Coldwell Banker, San Francisco/Peninsula says in his latest weekly report:

Out of curiosity, I looked back in the archives and pulled up the Weekly Market Watch from the same week last year. A lot has certainly changed in the past year as we know. But it is interesting to note the number of things that didn’t change year over year. Potential buyers are out in droves at the open houses in practically every single market. Parts of the Peninsula and the City are still starving for fresh inventory. The high end homes continue to sell quickly and many with multiple offers at over list price. The media continues to drive buyer perception with alarmist headlines and a constant barrage of confusing reports from myriad sources.

What’s different this week? We seem to have less of a stalemate between buyers and sellers regarding price and condition. Sellers have finally figured out that they can’t get peak market prices anymore and are either conceding to reality, or bowing out until the market rebounds. We also now have that feeling of palpable, pent-up demand on the part of buyers that I’ve mentioned before. This time last year, the feeling was that buyers were actually more just “lookers.” Now, with an additional slash in the short term lending rates from the Feds this week, and an economic stimulus package that may include provisions for raising the conforming loan amount, buyers feel like they may actually be able to do what they were hesitant about doing last year - buy. They seem to be realizing that in the Bay Area, now may be the best time to buy in years –especially if the conforming loan amount is increased. (Reminder: The stimulus package passed the House, but could get stuck in the Senate, so contact your Senators and insist on their support!)...

Read the entire report here.

- Rick Turley

* For an e-mail alert when this report is updated, send an e-mail to info@SFResidence.com with "weekly market report" in the subject line.
posted by SFResidence.com @ 8:28 AM 0 comments links to this post
Monday

posted by SFResidence.com @ 3:46 PM 0 comments

Mortgage Weekly Update - Last Week in Review

Foster Weeks publishes a weekly mortgage report which is updated every Monday morning. How is this affecting the San Francisco real estate market? Read our weekly and monthly market reports.

"A GOOD CONSPIRACY IS UNPROVABLE. I MEAN, IF YOU CAN PROVE IT, IT MEANS THEY SCREWED UP SOMEWHERE ALONG THE LINE." Mel Gibson as Jerry Fletcher in the movie, "Conspiracy Theory" And those who believe in the conspiracy theory that the Fed has access to economic data in advance of the official release dates sure felt their position was proven correct last week...let's take a look.

The main financial event of the week was the Fed, cutting the Fed Funds Rate another .50%, on top of their surprise .75% cut just eight days before. This brings the Fed Funds Rate down to 3.00% and will lower rates for business and consumer loans as well as Home Equity Lines of Credit and Adjustable Rate Home Loans - so please give me a call to discuss how this may help you. Bonds and home loan rates moved with volatility throughout the week, yet ended up close to where they started on Monday...

Read the entire report here.

- Foster Weeks

posted by SFResidence.com @ 12:13 PM 0 comments

Fast Facts from CAR and Freddie Mac - December 2007

Calif. median home price - December 07: $475,460 (Source: C.A.R.) (note: compared to $488,640 last month)

Calif. highest median home price by C.A.R. region December 07: Santa Barbara So. Coast $925,000 (Source: C.A.R.) (note: compared to $1,075,000 last month)

Calif. lowest median home price by C.A.R. region December 07: High Desert $244,330 (Source: C.A.R.) (note: compared to $262,650 last month)

Calif. First-time Buyer Affordability Index - Third Quarter 07: 24 percent (Source: C.A.R.) (note: compared to 07: 24 third quarter)

Mortgage rates - week ending 01/24:

• 30-yr. fixed: 5.48%; Fees/points: 0.4% (note: compared to 6.14% and 0.4% points last report)
• 15-yr. fixed: 4.95%; Fees/points: 0.4% (note: compared to 5.79% and 0.4% points last report)
• 1-yr. adjustable: 4.99%; Fees/points: 0.6% (note: compared to 5.51% and 0.6% points last report)

- California Association of Realtors & Freddie Mac

posted by SFResidence.com @ 8:27 AM 1 comments