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Articles Filed Under: Industry Stuff

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Specter of an Even Bigger Rate Hike Looms

Specter of an Even Bigger Rate Hike Looms

Having dropped half a percentage point from its 13-year high of 5.81 percent last month, driven by increasing concerns of a recession and hard landing, the average rate for a benchmark 30-year mortgage has since ticked back up 21 basis points (0.21 percentage points) to 5.51 percent, which is... Read More »

Purchase Mortgage Activity Drops, Average Loan Size as Well

Having inched up from a 22-year low last month, Mortgage loan application volume in the U.S. ticked down 1.7 percent on a seasonally adjusted basis last week, including a 4 percent seasonally adjusted drop in purchase mortgage activity which was down 18 percent versus the same time last year.... Read More »

Contemporary One-Bedroom Condo Slips Below Its 2016 Price

Contemporary One-Bedroom Condo Slips Below Its 2016 Price

Purchased for $650,000 in March of 2016, the 545-square-foot, one-bedroom unit #206 at 870 Harrison Street, which was built by JS Sullivan in 2015 and features “floor-to-ceiling windows with an open layout creating a modern and open living space,” along with a Bertazzoni range in the kitchen and “abundant... Read More »

IKEA’s Redevelopment of Mid-Market Center Closer to Reality

IKEA’s Redevelopment of Mid-Market Center Closer to Reality

Following a couple of false starts and mis-reports, the formal application to proceed with the conversion of the ill-fated and long-vacant “6×6 San Francisco” shopping center at 945 Market Street into an IKEA-anchored Market Street Place has been submitted to Planning. In addition to an 87,000-square-foot IKEA, the conversion... Read More »

Another Reduction for the Redeveloped BrainWash Building/Site

Another Reduction for the Redeveloped BrainWash Building/Site

Purchased for $4.6 million in February of 2018 and then remodeled to yield four office suites over an open 4,000-square-foot retail space, with four new bathrooms and a newly poured slab floor, the two-story Western SoMa building at the corner of Folsom and Langton Streets, which was home to... Read More »

Price Cut(s) for Permitted Third Street Building to Rise

Price Cut(s) for Permitted Third Street Building to Rise

Acquired for $1,075,000 in the second quarter of 2018, with plans for a skinny six-story, seven-unit building to rise on the site having been drawn, the fire-damaged McAfee’s One Hour Martinizing building at 4128 Third Street then re-sold at loss for $906,500 in June of 2019. Permits to clear... Read More »

Premium for Renting in San Francisco Is Ticking Back Up

Premium for Renting in San Francisco Is Ticking Back Up

Having hit $3,500 at the end of May, the weighted average asking rent for an apartment in San Francisco has since ticked up another 2 percent to $3,575 a month, which is 11 percent higher than at the same time last year and 17 percent ($525) above last year’s... Read More »

Bigger Than Bonus Plans for Polk Gulch Parking Garage Site

Bigger Than Bonus Plans for Polk Gulch Parking Garage Site

Having failed to sell at auction and survived a foreclosure scare, plans to entitle a bigger-than-bonus-sized tower to rise on the former National Guard armory turned parking garage site at 819 Ellis Street are progressing. While conceptual plans for a 13-story tower to rise up to 135 feet in... Read More »

Purchase Mortgage Activity in the U.S. Down Over 20 Percent

Mortgage loan application volume in the U.S., which dropped to a 22-year low a few weeks ago, inched up 0.7 percent over the past week on a seasonally adjusted basis. In the absolute, however, mortgage application volume dropped 20 percent, driven by a 21 percent drop in applications to... Read More »

Pending Home Sales in the U.S. Inch Up, Drop Year-Over-Year

Pending Home Sales in the U.S. Inch Up, Drop Year-Over-Year

Having dropped 3.9 percent in April to a near decade low, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, inched back up 0.7 percent in May to 99.9 but was down 13.6 percent on a... Read More »