by Gary Belk | Dec 2, 2015 | Neighborhoods, News and Reviews, Real Estate, San Francisco Real Estate |
Our listing at 1111 Oak Street just made SFgate.com. Katie Dowd wrote a nice piece about the oldest house in San Francisco. Read the...
by Gary Belk | Jan 12, 2015 | Blog, Business, Hayes Valley, Neighborhood, News and Reviews, Uncategorized |
San Francisco real estate has been pulling in the records in 2014. Earlier this year, we saw the highest price per square foot in Hayes Valley at 8 Octavia. And condos have been selling at the speed of light. The 267-unit Mission Bay development Arden by Bosa, for instance, sold out in a few months this summer. Recently, though, there has been some evidence the market is starting to plateau. For instance, the median home price in San Francisco hit a record $1.072 million in November, but sales volume dipped by 20 percent. But that shouldn’t be a cause for alarm. The San Francisco housing market traditionally slows down late in the year. In fact, it’s not likely prices will come down in 2015. Why? The laws of supply and demand are alive and well in the city, and the huge demand and short supply are contributing to surging home prices. Plus, interest rates remain low, although they’re projected to climb, so there are more buyers looking. Here are a few market factors to consider in 2015: 1. Demand for Housing Is Off the Charts: Since 2010, San Francisco has added about 10,000 residents per year, and new housing construction hasn’t come close to keeping pace. According to The Chronicle,San Francisco added roughly 10,000 residents in 2013, while just 2,300 new housing units were built. The math doesn’t add up. Unfortunately, San Francisco’s population is estimated balloon to 1 million by 2032; it’s roughly 840,000 residents now. Plus, many new residents are employed in the booming tech industry, i.e. they’re earning high wages are ready to buy. In fact,...
by Gary Belk | Dec 7, 2014 | Business, News and Reviews, Newsletters, Real Estate, San Francisco Real Estate |
Today, we use mobile devices to do everything. We use them to buy movie tickets, find nearby restaurants – and increasingly – we’re using them to shop for homes. According to a recent National Association of Realtors survey, 50 percent of buyers said they used a mobile device to shop for their home in the last year. Traditional marketing methods like yard signs and open houses are attracting a smaller pool of buyers. Just 9 percent of respondents said they found their home this way. Instead, the survey highlighted the importance the Internet and mobile devices play in selling a home. For instance, 43 percent of buyers browse online listings as their first-step in buying a home, and that’s even more accurate for younger buyers. Sixty-five percent of buyers aged 25-44 years old use a mobile device in their home search, compared to just 45 percent who attended open houses. What Does Mobile Mean for Sellers? There are dozens of real estate listings apps from sites like Redfin, Trulia, and Zillow, and the list continues to grow. They’ve made it easier than ever to search for homes by price, location, lot size, etc. Today, your listing is at the fingertips of millions – if it’s marketed correctly. Effective mobile and Internet listings are much like “digital yard signs.” Buyers want to see photos, detailed property information, neighborhood data and virtual/interactive tours. Today, a thorough mobile listing is as effective as a well-attended open house. Equally as important, your listing needs to appear in the right online channels. At Urban Focus Real Estate, we understand the importance of digital marketing...
by Gary Belk | Oct 30, 2014 | Hayes Valley, Neighborhood, News and Reviews, San Francisco Real Estate |
The team behind the much-praised 8 Octavia in Hayes Valley has set their sights on a new location right next door. Linden Partners is currently developing a new building along Octavia, between Page and Rose, which will house 26 studio, one- and two-bedroom units. The developers recently closed on what was originally Parcel T, which became available following the demolition of the Central Freeway, and have released renderings of the new housing development. In addition to the new condos and ground-floor retail, developers have plans for a street-level community beer hall as well, which developers are calling, “a living room for the neighborhood.” The beer hall concept could be a replacement for the SF Biergarten, which has found a temporary home down the street on Parcel L. ‘Smaller, More Economical’ Units The five-story building includes condos on the upper four floors, with the first floor devoted to the beer hall and additional retail space. As far as the units themselves, they won’t be as spacious as other new construction buildings. The design team notes that to take better advantage of the space, the units will be “smaller and more economical.” Information about floor plans and square footage has not yet been released. Other features include 13 underground parking spaces, 6 spots for car-shares, and street-level landscaped areas. Like 8 Octavia, the new project will feature a distinctive façade. Edmonds+Lee, the team behind the design, said they incorporated a contemporary version of traditional Victorian Bay windows, but the building is certainly modern and will complement other buildings in the neighborhood. Blocks from the Heart of Hayes Valley Since the demolition...
by Gary Belk | Jun 22, 2014 | News and Reviews, San Francisco Real Estate, SOMA, Yerba Buena |
The sparkling Transbay Transit Terminal, which has been dubbed the “Grand Central Station of the West,” is transforming a huge area in San Francisco’s SoMa neighborhood. Just south of Mission Street, between Second and Beale streets, the Terminal will be a state-of-the-art facility, and around the transit complex construction is booming. In fact, there’s intense interest in all the new real estate here. Recently, Salesforce.com inked a blockbuster lease agreement for the Transbay Tower. It was city’s largest lease agreement ever and will include naming rights. And the residential buildings sprouting around the terminal are already courting interested buyers. But with so many different buildings popping up, each led by different developers and designed by a stable of all-star architects, it’s impossible to keep all the details straight. Of the 12 parcels, or blocks, that have been zoned residential, four are under construction and one is already online, and plans are already in moving forward for a handful of high-rise office buildings, as well. Here’s what’s in store: Transbay Commercial Buildings With increased height limits, the Transbay development will attract quite a few businesses. An additional 3 million square feet of office and commercial space are planned, as well as more than 100,000 square feet of retail. Transbay Terminal: Set to be completed in 2017, the terminal will be the regional hub for 11 different transportation agencies. The five-story terminal will connect light-rail, busses and high-speed rail to the city and rest of the Bay Area, including an underground connection with the CalTrain station. Included in the plans are a 5.4-acre park similar to Manhattan’s Highline Park, an amphitheater,...
by Gary Belk | Apr 11, 2014 | Business, News and Reviews, San Francisco Real Estate |
Inventory Crunch is Causing Higher Prices Econ 101, Supply and Demand: When demand outstrips supply prices go up. The more demand the faster prices climb. That is what we are experiencing in San Francisco and there is no end in sight. New Listings were down 16.1 percent for single family homes and 28.9 percent for Condo/TIC/Coop properties. Pending Sales increased 6.3 percent for single family homes but decreased 5.6 percent for Condo/TIC/Coop properties. Read Full...
