Articles Filed Under: Trends

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Lavishly Remodeled Loft Fails to Fetch Its 2014 Price

Lavishly Remodeled Loft Fails to Fetch Its 2014 Price

Purchased for $1.18 million in late 2014, the lavishly remodeled unit #1 in the former Smitty Knitting Factory building at 75 Lansing Street, a 1,400-square-foot unit which features Venetian plaster, Italian tile, exotic wood finishes, returned to the market priced at $1.295 million this past June, a sale at... Read More »

Luxury Two-Bedroom Fetches $225K Less

Luxury Two-Bedroom Fetches $225K Less

As we outlined in September, having sold for $2.425 million in April of 2016 (with 35 percent down and a below average 2.848 percent interest rate on a $1.58 million loan), the two-bedroom unit #22E in the LUMINA tower at 338 Main Street returned to the market priced at... Read More »

Benchmark Mortgage Rate Inches Up, Fed Signals a Pause

Benchmark Mortgage Rate Inches Up, Fed Signals a Pause

The average rate for a 30-year mortgage inched up 5 basis points over the past week to 3.73 percent but remains 90 basis points (0.90 percentage points) below its mark at the same time last year and within 32 basis points of a three/six-year low, according to Freddie Mac’s... Read More »

Pending Home Sales Tick up in San Francisco, Inventory Drops

Having peaked at an 8-year high in October, the number of homes on the market in San Francisco has since dropped 40 percent and is now running 13 percent lower than at the same time last year, driven by a combination of normal seasonality, a slowdown in new listing... Read More »

Mortgage Rates Hold, Probability of a Hike Back Under a Percent

Mortgage Rates Hold, Probability of a Hike Back Under a Percent

The average rate for a 30-year mortgage has been little changed over the past two weeks and is currently holding at 3.68 percent, which is 107 basis points (1.07 percentage points) below its mark at the same time last year, and within 27 basis points of a three/six-year low,... Read More »

“Over Asking” at The Ritz (But at a Real Big Loss)

“Over Asking” at The Ritz (But at a Real Big Loss)

As we outlined earlier this year: Purchased as new for $1.53 million, or roughly $1,284 per square foot, in early 2008, right as the Great Recession was picking up steam, the two-bedroom Ritz-Carlton Residences unit #1702 at 690 Market Street returned to the market in early 2015 priced at... Read More »

Pace of Pending Home Sales in the U.S. Drops

Pace of Pending Home Sales in the U.S. Drops

Having ticked up 1.5 percent in September, the National Association of Realtors Pending Home Sales Index, for which 100 denotes “an average level” of activity, dropped 1.7 percent in October to 106.7. On a year-over-year basis, however, the pace of new contract signings across the U.S. is running 4.4... Read More »

Index for Bay Area Home Values Drops Despite Gains Nationwide

Index for Bay Area Home Values Drops Despite Gains Nationwide

Having turned negative last month, 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 – has shed another 0.6 percent, an outcome which shouldn’t catch any plugged-in readers by surprise. As such, the... Read More »

Reduced Listings Tick Up in SF, Pending Sales as Well

The share of homes currently listed for sale in San Francisco that have undergone at least one price reduction has ticked up to 32 percent, which is 5 percentage points higher than at the same time last year and the highest percentage of listings with an official price cut... Read More »

Mortgage Rates Dip, Fed Uncertainty in Play

Mortgage Rates Dip, Fed Uncertainty in Play

The average rate for a 30-year mortgage dropped 9 basis points over the past week and now measures 3.66 percent, which is 3 basis points lower than two weeks ago, according to Freddie Mac’s latest Mortgage Market Survey. As such, the 30-year rate is now 115 basis points (1.15... Read More »