San Francisco, CA Real Estate News

By Rob Spinosa, SVP of Mortgage Lending, Marin County
(Guaranteed Rate, Marin County, CA)
Can You Use Foreign Currency to Get a Mortgage?  Is your down payment coming from abroad?  Do you have a foreign bank account that you’re showing on your mortgage application?  Are you obtaining a gift from a family member in another country?  These are all questions that might come up when we’re working with our clients who may be employed by a foreign company or who may be permanent residents (green card holders) or non-permanent resident aliens of the United States. The question really becomes, “Can I use a foreign currency to qualify for a mortgage?” We’ll look at some of the key points to navigating these international waters and assuring safe passage to home ownership here in the US. Document Everything Just like with domestic bank accounts, we're going to ask you for at least two...
Comments 2
By David Ames, San Francisco
(Zephyr Real Estate, San Francisco)
Six-figure salary now considered ‘low-income’ in SF, according to feds    Source: Curbed The Department of Housing and Urban Development [HUD] released new income estimates Monday that presented a depressingly unsurprising perspective on the cost of living in San Francisco, as many SF households bringing in more than $100,000 annually now qualify as “low income” with the federal government.MAKING SENSE OF THE STORY- HUD’s annually assessed “income limits” judge how much a person or household can make per year and still qualify for certain types of federal housing assistance, deeming residents either “low income” (80 percent of the area-median income), “very low income” (50 percent), or “extremely low income” (usually less than 50 percent, although the formula for this one varies).- “The...
Comments 1
By Debra Donovan, San Francisco Real Estate
(Park North Real Estate)
 After significant jumps in median sales price earlier this year, particularly for single family homes, the market has mostly remained flat for the 2nd quarter. New and active listings continue to be down double-digits compared to the same month last year as our anemic inventory situation continues. On the other hand, months supply of inventory was at its lowest point since January, particularly for single family homes. The percentage of homes selling for over asking price also jumped. For single family homes it was the highest since September of last year; for condos and lofts since May 2016. See the latest stats, as well as which districts have the lowest cost per square foot in the city below. Median Sales Price: The median sales price for a single family home dropped slightly compar...
Comments 1
By David Ames, San Francisco
(Zephyr Real Estate, San Francisco)
            Median Sales Price Avg. Days on Market # Homes Sold % List Price Received $1,620,000 18 172 115.8% San Francisco real estate has been appreciating steadily for at least six years, but the more subtle trends within that larger pattern are not always predictable.What is Predictable?As median sales price (MSP) has soared for both single-family homes and condos, active inventory has trended down. In other words, as supply went down the price went up. Graphing price and inventory together, it is easy to see this inverse relationship.Since 2012, single-family homes have appreciated over 108% (dramatic to say the least). Most of that appreciation took place between 2012 and 2015. Since then, the appreciation has been steady at a little over 5% a year. This year, a lot of that 5% oc...
Comments 4
By Debra Donovan, San Francisco Real Estate
(Park North Real Estate)
  I've been spending a lot of time in Pacifica lately with clients who had been looking for, and have now just closed, on a new home there. Everytime I go, I am reminded about how much I love it: the water, the mountains, the community. Driving down Highway 1 as the Pacific Ocean appears suddenly around a curve still makes me tingle.All of this time there also reminded me of one of my all-time favorite hikes, the Montara Mountain Trail in Linda Mar. The gorgeous weather last weekend inspired me to dust off my hiking shoes and hit the trail again. While I'm told there are other points of entry to get to the trail, I park at the San Pedro Valley Park entrance off of Oddstad Blvd. There's plenty of parking, a restroom, picnic tables, and barbeques that are great for a pre- or post-hike coo...
Comments 1
By Abraham Valentino, Founder CEO SOLARIT®, iMetros, Nummus®
(SOLARIT®)
 GoSolarSF incentives for Home Solar Systems in California Go Solar SF is San Francisco's Solar Incentives and creditsGo Solar CA is state of California incentives for homes and business to install Solar panels GoSolarSF or Go Solar SF are incentives designed to encourage solar systems for San Francisco homeowners. San Francisco's Solar incentives plus Federal tax credits could pay for most or all cost of a solar system. The GoSolarSF incentives are credits and how to apply for Solar Incentives in San Francisco are explained in the video and link below:City of San Francisco's Solar Incentives & Rebates How to apply for San Francisco's Cash Solar Incentives Why Go Solar?For some, it is purely economics, currently, with solar systems being in affordable range, coupled with all government ...
Comments 0
By Lottie Kendall, Helping make your real estate dreams a reality
(Compass)
Each week either I or my Client Care Concierge tour some of condominiums that have recently come on the market in San Francisco, concentrating on the Russian Hill, Pacific Heights, and Van Ness corridor areas of the City. Here is a rundown of a few of the ones I visited this week. Notice how close together these are geographically, yet how diverse in size, price, styles and amenities.1 Daniel Burnham Court -- located between Van Ness and Franklin Streets, consists of two residential high-rise towers built in 1987 and features amenities such as a pool, spa, fitness center, roof top deck, 24/7 security, and parking. Great location, a short distance from the opera and symphony halls, the civic center, restaurants, shops and bus lines. The view in the top picture was taken from one of the t...
Comments 13
By Lottie Kendall, Helping make your real estate dreams a reality
(Compass)
Last month I wrote about three Pacific Heights condos I toured one Tuesday. All 3 caught my eye for various reasons. Three very different sizes, price points and appeal, but all would provide good living.Here's an update on the status of each. 1854 Vallejo - listed at $2,349,000; sold and closed escrow at $2,350,000 - they got their price. 1963-A Clay - Studio apartment listed at $549,000; sold and closed escrow at $702,500. (This type of overbid at this price level is common) 1818 Broadway - Listed by Faira for only $798,000 - it was withdrawn from the market after 50 days. Something is not obvious here - $798,000 is extremely low for the size and location. I might do more sleuthing. Looking for your spot to call home in San Francisco? Large or small, new or old, we can find them.
Comments 8
By Lottie Kendall, Helping make your real estate dreams a reality
(Compass)
Last month I wrote about a small condo on Russian Hill that I fell in love with, and talked a bit about some of the things that make living on Russian Hill so very special. Here's that post.I've been tracking 1147 Filbert Street, just off the cable car route on Hyde Street. This Junior one-bedroom was listed at $649,000 and sold for $746,000.Someone has a great spot to live in San Francisco! 
Comments 17
By Debra Donovan, San Francisco Real Estate
(Park North Real Estate)
 After months of hearing that interest rates were expected to rise, we are now seeing that come to fruition. Last week the 30-year fixed rate hit the highest it has been in 7 years. Rates have since fluctuated a bit (for example, on the morning of this writing they went down). Still, overall, most are expecting rates to continue to rise. This doesn't seem to have affected buyer activity thus far, but a 1/2 or full point on a mortgage can make a big difference, so that may change if rates continue to climb. Here are the numbers for April: Median Sales Price: The median price for a single family home eased a bit in April, dropping to $1,650,000 (vs. $1,695,000 in March and $1,700,000 in February). Still it was an almost 20% increase over the median price of a single family home in April 2...
Comments 1
By David Ames, San Francisco
(Zephyr Real Estate, San Francisco)
The Psychology of Uncertainty: SF Market UpdateThe Price CeilingThe median sales price (MSP) for single family homes hit its highest point in February, at $1,700,000. It then slipped down to $1,650,000 in April. Condos followed a similar trajectory, with their MSP peaking at $1,268,000 in March and then dropping a little to $1,242,500 in April.In the ultra-high-end market, the ceiling is around $7,000,000. After that the number of sales drop off precipitously. For buyers in this price range, the good news is that there is not a lot of competition. There is, however, a supply problem in this market since there are very few homes to choose from.So, what’s with the MSP surge?The steep climb between December and February cannot be attributed to one single cause. Certainly, the number of new...
Comments 1
By David Ames, San Francisco
(Zephyr Real Estate, San Francisco)
 "California may soon become the first state in the nation to require that virtually every new home be equipped with solar panels." (source: San Francisco Chronicle)While the cost of construction in California is one of the highest in the nation, (not to mention the impact fees and City processing and application fees that are built into the whole process), this is in many respects a step in the right direction.  Industry and supporters say "the solar mandate could add $10,538 to the cost of building a house, by the agency’s own estimate"  The 'agency' in this case is the California Energy Commission.  In areas where the mediam price of a home is over $1m, the "impact" may be considered rather negligible.  Even still, it's another cost on top of an already expensive market.Read the full...
Comments 0
By Lottie Kendall, Helping make your real estate dreams a reality
(Compass)
The redwood trees at the side of our condo complex are getting large enough to attract song birds as well as hummingbirds. Today this robin perched near the top of the tree or a long while before flying off to new adventures.The view outside my 7th-floor office window makes me smile!Urban living - always changing, always interesting. 
Comments 23
By Lottie Kendall, Helping make your real estate dreams a reality
(Compass)
It was a picture-perfect day a few years ago when I took a seaplane ride and we circled Pacific Heights, with Lafayette Park in the foreground.Pacific Heights is a highly desired part of town, with a wide variety of housing styles, from mega-million mansions, to charming Victorian single family houses, condominiums and apartments.Today I took a look at 3 very different condos in terms of size and price, but all located in Pacific Heights within a few blocks of each other. From each, one can walk to 3 different shopping districts (Polk Street, Union Street, and Fillmore Street), the CPMC hospital and medical offices, the historic Haas-Lilienthal house, Whole Foods, Trader Joe's and a wealth of other destinations. And of course, beautiful Lafayette Park beckons one with its bay views, dog...
Comments 13
By David Ames, San Francisco
(Zephyr Real Estate, San Francisco)
SAN FRANCISCO'S Market pace...Over the last four years, 85% of new listings of single-family homes have sold. This means that, if you put your single-family home on the market, you have an 85% chance of selling it (not to mention the 76% chance that its selling price will be over the asking price). Condos are not far behind at 82% of new listings sold. You would also sell that home faster than at any time in the last four years. For single-family homes, the number of days on market has stayed steady at fourteen for the last four months. WHERE ARE WE NOW?With the population of San Francisco increasing by about 1.4% a year, it can be hard to keep track of this fast paced market.HERE ARE THE FACTS:* Since the first quarter of 2005, single-family homes have appreciated 98.77%. Condominiums ...
Comments 0
By Lottie Kendall, Helping make your real estate dreams a reality
(Compass)
The courtyard at the Rockwell in lower Pacific Heights, San Francisco is an oasis of tranquility. Located a mere half block off the transit-rich Van Ness corridor, the Rockwell offers wonderful shared spaces for owners to enjoy. Spaces such as a large, elegant lobby when one can relax and meet guests.A courtyard with seating areas tucked away for privacy, or spaces to enjoy with friends while barbecuing or sipping a beverage by the elegant gas fire place There's a sky deck with grand views of the city and lots of sunshine as well as another gas fire for when the sun goes down.Off the sky deck is the sky lounge, ideal for reading, working on the computer, visiting. This lounge has a kitchen at one end for simple entertaining.If these spaces aren't enough, there's also a spacious owner's ...
Comments 16
By Debra Donovan, San Francisco Real Estate
(Park North Real Estate)
As the first quarter of 2018 ends, the San Francisco real estate market continues to be red hot. As you may have already seen, the median sales price for a single family home jumped to $1.6 million for the quarter. Interest rates are beginning to rise, so perhaps buyers are trying to "lock in" before they go up anymore.Here are the numbers for March, 2018. Median Sales Price: Not surprisingly, median sales price for single family homes remained lofty in March at almost $1,698,000, up over 25% compared to last year. Condos also jumped almost 12% compared to last year. What's mostly kept the condo market somewhat in check is the new construction that's been coming to market over the past few years. Those sales are not typically reported in the MSL and thus are not included in these stats....
Comments 0
By Lottie Kendall, Helping make your real estate dreams a reality
(Compass)
San Francisco City Chorus Larry Marietta, Conductor presentsWhen: Saturday, April 21, 2018, at 7:30 PM (Doors open at 7:00 PM)Where: Calvary Presbyterian Church, 2515 Fillmore Street (at Jackson), San FranciscoCost: $20 adults; $15 Seniors/College Students. Free admission to all childrenLike to sing? Learn more about San Francisco City Chorus and find out how you can join. 
Comments 13
By Lottie Kendall, Helping make your real estate dreams a reality
(Compass)
San Francisco's Russian Hill is a favorite neighborhood of many. Here you'll find the Powell-Hyde cable cars climbing up, down and around; intimate dining choices; tree-lined streets, verdant staircases replacing streets in the steepest spots, and views. Oh, yes, the views -- of Coit Tower on nearby Telegraph Hill, North Beach, the downtown Financial District, the Bay Bridge, the Golden Gate bridge, the water. It's also home to the curvy part of Lombard Street that attracts tourists from all over the world.Turn a corner and the scenery and feel changes.While there are single-family homes on Russian Hill, there are also many condominiums and stock co-ops, too (some quite amazing.)I was utterly charmed this week when previewing a Junior one-bedroom condo in the building pictured above. Li...
Comments 20
By Lottie Kendall, Helping make your real estate dreams a reality
(Compass)
From time to time I take a break from Active Rain, like I've done this past month. Sure, I sign on just about every day, read a few great posts, comment on some and then--I stop.So what do I do with the time I don't spend blogging?  I might enjoy a City hike through a different San Francisco neighborhood like I did Friday afternoon - I always find that refreshing, and always find something new to make me smile and excite me while I re-visit some favorite places.On a recent March day, we walked to the Civic Center BART station and took BART to Glen Park. A walk along a few blocks took us to the Sunnyside Conservancy, then up to little Dorothy Erskine Park, down to Glen Canyon Park, up to Walter Haas Playground (view of the city from there was stunning- see above photo) down to Billy Goat...
Comments 30