Benchmark Mortgage Rate Drops to Just Over 7 Percent
Continuing a trend that shouldn’t catch any plugged-in readers by surprise, the average rate for a benchmark 30-year mortgage ticked down 7 basis points to 7.02 percent over the past…
Apples To Apples
Bay Buildings
Listings (for sale)
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RealRecentReductions
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Contemporary SoMa Condo Re-Listed for Nearly 40 Percent Less
As we outlined last year, the 624-square-foot, one-bedroom unit #502 at 99 Rausch, which was purchased for $880,000 in May of 2019, establishing a new “comp” for other neighborhood sales…
Pace of New Home Sales Activity Ticks Up, Loan Size Holds
With inventory levels now 45 percent higher than prior to the pandemic, having hit a 16-year high in March, mortgage application volume for new home purchases in the U.S. ticked…
Purchase Mortgage Activity Ticks Back Down
Purchase mortgage application volume in the U.S. ticked back down 2 over the past week, both in the absolute on a seasonally adjusted basis, and was down 14 percent on…
East Bay
Industry Stuff
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RealRecentReductions
Remodeling and Renovation
Trends
Hot Piedmont Home Reduced, Re-Listed, Reduced Again
Modernized without being “white-boxed” or stripped of its period details and charm, the Grand Tudor on a elevated corner Piedmont lot at 35 Muir Avenue hit the market priced at…
Inventory Levels Still Ticking Up in San Francisco
As we noted last week, the net number of single-family homes and condos on the market in San Francisco was ticking up from a 13-year seasonal high, “driven by a…
Pac Heights Mansion Priced for an Uber “At Asking” Loss
Quietly acquired by the newly recruited CEO of Uber for $16.5 million in 2017, the 6,200-square-foot, five-bedroom home at 3090 Pacific Avenue, an “impeccably remodeled” and light-filled pad “on a…
Expected Value of Rate Cut(s) Holds
Having tumbled over the past two quarters, as we first outlined earlier this year, the expected value of the Fed’s rate cuts in 2024 is now holding, with the average…
Modern Hayes Valley One-Bedroom Trades Down
Purchased for $779,000 or roughly $1,073 per square foot in February of 2015, the top-floor, one-bedroom unit #605 in the award-winning modern development at 8 Octavia Street, “ideally located just…
Apples To Apples
Bay Buildings
Listings (for sale)
Real Estate Economics
RealRecentReductions
Trends
Austin, We Have A Problem
Purchased for $770,000 in June of 2020, having been priced by the sales office at $839,500 in 2018, the 637-square-foot, junior one-bedroom unit #605 with a deeded parking space in…