CFAH

Approved Tower Pushed Back, Parking Lot Extension Sought

Approved Tower Pushed Back, Parking Lot Extension Sought

As we outlined back in September of 2020: Having been approved back in 2016 but yet to break ground, the entitlements for a skinny 495-foot-tall tower to rise at 524 Howard Street, a development which could yield up to 334 condos, or 72 condos over a 273-room hotel, “depending... Read More »

Amazing Eureka Valley Home Further Improved, Just Reduced

Amazing Eureka Valley Home Further Improved, Just Reduced

Purchased for $2.325 million in May of 2018, the already “amazing” single-family home at 4540 20th Street, a “prime Eureka Valley location” with views, a “chef’s kitchen” and a private “outdoor oasis,” was subsequently further improved, with a new internal stairway connecting the home’s top two floors, an upgraded... Read More »

Benchmark Mortgage Rate Surges Back Over 5.5 Percent

Benchmark Mortgage Rate Surges Back Over 5.5 Percent

Having dropped under 5 percent for the first time in four months three weeks ago, the average rate for a benchmark 30-year mortgage has since surged 56 basis points (0.56 percentage points) to 5.55 percent, including a 42 basis point jump over the past week alone. At 5.55 percent,... Read More »

Purchase Activity at the High End of the Market Is Weakening

Mortgage loan application volume in the U.S. dropped another 3.0 percent over the past week from what was already a 22-year low, with a 2 percent drop in purchase mortgage activity, which is now down over 20 percent on a year-over-year basis. At the same time, the average purchase... Read More »

Pace of New Home Sales in the U.S. Has Tanked

Pace of New Home Sales in the U.S. Has Tanked

Having dropped a downwardly revised 7.3 percent in June, the seasonally adjusted pace of new single-family home sales in the U.S. fell another 12.6 percent in July to an annualized rate of 511,000 sales, which is 29.6 percent lower than at the same time last year and the slowest... Read More »

Decline in U.S. Home Sales Is Accelerating, Median Price Drops

Decline in U.S. Home Sales Is Accelerating, Median Price Drops

Having dropped 5.4 percent in June, the seasonally adjusted pace of existing-home sales across the U.S. dropped another 5.9 percent in July to an annual rate of 4.81 million sales, representing the twelfth straight month with a year-over-year decline in sales; the largest year-over-year decline in sales (20.2 percent)... Read More »

Purchase Activity for New Homes in the U.S. Continues to Drop

Purchase Activity for New Homes in the U.S. Continues to Drop

Despite the fact that the number of new homes on the market across the U.S. is over 30 percent higher than at the same time last year, with the most new homes on the market since the second quarter of 2008, mortgage loan application volume to purchase one of... Read More »

Another High-End Redevelopment and DUM Problem at Hand

Another High-End Redevelopment and DUM Problem at Hand

Purchased as a two-unit building with a “bonus room” on the ground floor for $2.7 million in November of 2017, permits to remodel and expand the Lake District property at 230 24th Avenue were secured in 2019 and the redeveloped building returned to the market last week, listed as... Read More »

Bay Area Employment Nearly Back to Its Pre-Pandemic Count

Bay Area Employment Nearly Back to Its Pre-Pandemic Count

Having slipped in June, the net number of people living in San Francisco with a paycheck increased by 9,800 in July to 564,200.  As such, there are not only 42,300 more employed residents in San Francisco than there were at the same time last year but 85,500 more employed... Read More »

Index Versus Reality for a Modern Noe Valley Home

Index Versus Reality for a Modern Noe Valley Home

Purchased for $2.935 million in October of 2017, the 3,000-square-foot home at 564 Valley Street, a modern four-bedroom, open plan home with a two-car garage, multiple open spaces, including a terraced backyard, and a showcase primary suite spread across the home’s top floor, returned to the market priced at... Read More »