Benchmark Mortgage Rate Drops to an All-Time Low

Benchmark Mortgage Rate Drops to an All-Time Low

Having inched up last week, the average rate for a benchmark 30-year mortgage has since dropped 10 basis points (0.10 percentage points) and now measures 3.23 percent, which 91 basis points below its mark at the same time last year and a new all-time low by 6 basis points,... Read More »

Key Changes to the Bay Area’s Extended ‘Stay-at-Home’ Orders

The existing ‘stay-at-home’ orders for Alameda, Contra Costa, Marin, San Francisco, San Mateo and Santa Clara counties, which were slated to expire at 11:59 pm on May 3, have just officially been extended “through the end of May.” The newly extended orders, however, will allow all previously shuttered construction projects... Read More »

Pending Home Sales Activity in the U.S. Drops Over 20 Percent

Pending Home Sales Activity in the U.S. Drops Over 20 Percent

Having ticked up 2.4 percent in February, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, dropped 20.8 percent in March to 88.2, which is 16.3 percent below its mark at the same time last year... Read More »

Bay Area Unemployment Claims Skyrocket, Over 330K in March

Bay Area Unemployment Claims Skyrocket, Over 330K in March

Having averaged a little over 3,500 new claims a month over the past five years, and with a total of around 5,600 individuals in San Francisco having qualified to receive unemployment benefits in February, over 44,300 new/initial unemployment claims were filed by San Francisco residents in March. As a... Read More »

Index for Bay Area Home Values Actually Inched Up, But…

Index for Bay Area Home Values Actually Inched Up, But…

Having slipped in January, the S&P CoreLogic Case-Shiller Index for single-family home values within the San Francisco Metropolitan Area – which includes the East Bay, North Bay and Peninsula – inched up 0.9 percent in February to within one (1) percent of last June’s peak, prior to the widespread... Read More »

Sub-2007 Pricing for a Luxury Two-Bedroom Pad

Sub-2007 Pricing for a Luxury Two-Bedroom Pad

Back in 2007, the 1,670-square-foot, two-bedroom unit #27C in the St. Regis Museum Tower building at 188 Minna Street quickly fetched the $2.75 million price at which it was listed, financed by the Hong Kong-based Bank of East Asia. Featuring “one of St. Regis’s most desirable floorplans,” with “skyline... Read More »

Number of Homes Listed for Sale in S.F. Up Another 10 Percent

Driven by a sharp decline in new contract activity, the number of homes actively listed for sale in San Francisco has ticked up another 10 percent over the past week to 550. As such, while listed inventory levels in the city are still down 10 percent on a year-over-year... Read More »

Refreshed Noe Condo Flipped for $200K More

Refreshed Noe Condo Flipped for $200K More

Purchased for $1.95 million in June of 2015, the 1,753-square-foot unit #7 in the former St Paul’s Primary School building at 300 Valley Street returned to the market priced at $2.195 million this past September, at sale at which would have represented total appreciation of 12.6 percent for the... Read More »

San Francisco’s Housing Pipeline Hits a Record High

San Francisco’s Housing Pipeline Hits a Record High

With the number of newly proposed units of housing to be built in San Francisco having ticked up in the fourth quarter of last year, the number of apartments and condos under development in San Francisco (i.e., the city’s housing pipeline) ended 2019 at a new record high and... Read More »

Plans to Transform the Van Ness Motel

Plans to Transform the Van Ness Motel

Built in 1955, plans to double the capacity of the three-story Van Ness Motel turned “Van Ness Inn” have been drafted. As proposed, the second and third floors of the existing motel’s motor court would effectively be infilled with new rooms, an all-new fourth floor would be added atop... Read More »