CFAH

Benchmark Mortgage Rate Inches Up, Nearing a 16-Month High

Benchmark Mortgage Rate Inches Up, Nearing a 16-Month High

The average rate for a benchmark 30-year mortgage has inched up another 9 basis points over the past two weeks to 3.14 percent, which is the highest rate in six months and within 5 basis points of a 16-month high. While 3.14 percent is still a historically low rate,... Read More »

A Pac Heights Bastion Appears to Have Been Breached

A Pac Heights Bastion Appears to Have Been Breached

While not as exclusive as 2006 Washington, the penthouse of which is now on the market with a $45 million price tag, the twelve-story “Alta Plaza Apartments” building at 2500 Steiner Street is equally iconic and its twelve full-floor cooperative units infrequently trade hands. Purchased for $1.465 million in... Read More »

Infamous Sea Cliff Mansion Now in the Hands of a Trustee

Infamous Sea Cliff Mansion Now in the Hands of a Trustee

With the sudden $2.1 million price cut for the infamous seven-bedroom home at 224 Sea Cliff Avenue, which was foreclosed upon by a junior lender last year, having failed to move the property, the home is now in the hands of a bankruptcy trustee, the agent for whom is... Read More »

Pace of New Home Sales in the U.S. Jumps, Still Down YOY

Pace of New Home Sales in the U.S. Jumps, Still Down YOY

The seasonally adjusted pace of new single-family home sales in the U.S. jumped 14 percent in September to an annualized rate of 800,000 homes but was down 17.6 percent on a year-over-year basis and still 19 percent lower than at the start of this year with mortgage application volumes... Read More »

Average Asking Rent in San Francisco Slips

Average Asking Rent in San Francisco Slips

Having rebounded a little over 12 percent from May through September, the weighted average asking rent for an apartment in San Francisco slipped a percent in October to $3,375 per month. As such, while the average asking rent in San Francisco is up around 11 percent from its pandemic-era... Read More »

Index for Bay Area House Values Inches Up, YOY Gain Slips

Index for Bay Area House Values Inches Up, YOY Gain Slips

Having ticked up a downwardly revised 1.1 percent in July, 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 0.4 percent in August, for a year-over-year gain of 21.2 percent,... Read More »

Apples-to-Apples for a Redeveloped Russian Hill View Home

Apples-to-Apples for a Redeveloped Russian Hill View Home

Completely redeveloped in 2014, “with sleek designer finishes and innovative architecture to create a seamless indoor/outdoor experience and showcase stunning Bay and Alcatraz views,” the now 5-bedroom home at 740 Bay Street sold for $4.5 million, or roughly $1,273 per square foot, that August. Featuring a top-floor great room,... Read More »

Number of Homes for Sale in San Francisco Inches Down

As projected, the number of homes on the market in San Francisco inched down a (1) percent over the past week to 1,220, down from a high-water mark of 1,240 in 2021 and 2,010, which was a two-decade high, last year. While listed inventory levels are down nearly 40... Read More »

430K Bay Area Jobs Have Been Recovered, 220K Left to Go

430K Bay Area Jobs Have Been Recovered, 220K Left to Go

Having slipped by (an upwardly revised) 2,400 in August, the number of people living in San Francisco with a paycheck increased by 6,300 in September to 535,700, dropping the unemployment rate to 4.1 percent with 42,500 more employed residents in the city than there were at the same time... Read More »

Contentious Corona Heights Infill on the Boards and Calendar

Contentious Corona Heights Infill on the Boards and Calendar

Acquired along with the early 1900’s home at 245 Upper Terrace for $1.25 million in 2002, plans to demolish the detached, 351-square-foot garage, which sits on a separate parcel tagged 247 Upper Terrace, have been drawn. And as envisioned, a modern 4,081-square-foot, five-level structure could rise on the down... Read More »