San Francisco Schtuff

San Francisco real estate, events, food and neighborhood

March 29, 2007 • 1:30 am 0

California home sales decrease 9.6 percent in February

For some California, general real estate news, read below. As most of us know, the California stats really don’t reflect the San Francisco market.

C.A.R.Newsline reports:

The median price of an existing single-family home in California increased 5.7 percent in February and sales decreased 9.6 percent compared with the same period a year ago, C.A.R. recently reported. “Sales in February were at their highest level in eight months, posting their smallest year-to-year decline in 14 months,” said C.A.R. President Colleen Badagliacco. “Next month’s report could tell a different story since sales last year peaked in March. Looking forward, we are likely to see smaller year-to-year declines as we enter the traditional buying season. Homes that are well maintained and are priced to reflect the realities of today’s market will continue to sell.”

According to the report, the median price of an existing, single-family detached home in California during February was $564,700, a 5.7 percent increase over the revised $534,400 median for February 2006. Also last month, closed escrow sales of existing, single-family detached homes in California totaled 464,560 at a seasonally adjusted annualized rate, down 9.6 percent compared with the sales pace recorded one year earlier and up 6.2 percent from home resale activity in January 2006.

“Statewide, the number of homes for sale increased slightly in February and remain just above the long-run average,” said C.A.R. Vice President Leslie Appleton-Young. “The unsold inventory index stood at 8.8 months in February, compared with 8.3 months in January, with the San Francisco Bay Area continuing to experience leaner inventory levels compared with Southern California and the state as a whole.

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Filed under: Ggold, news , ,

• 1:13 am 0

Bernal Heights Branch Library Renovation


As per the city and county of San Francisco Branch Library Improvement Program:

“As part of the bond measure overwhelmingly passed in November 2000, the Library plans to make the building accessible and reduce the seismic risk, while preserving the historic character of the existing building. Plans include a designated Teen Area, an elevator and staircase added, new restrooms, and the Children’s Area will be moved downstairs and expanded.

The branch is scheduled to close for construction in spring 2007 and reopen in 2009. During the renovation, library services will be provided by increasing hours at nearby branches, holding programs at neighborhood schools and community centers, and by bookmobile service. Closing may be delayed due to design issues, complications arising from the bidding, contracting or permit process, or other matters.”

Filed under: Bernal Heights, Ggold, neighborhood changes , ,

March 23, 2007 • 6:36 pm 0

Mortgage Update

Friday: 03/23/07 10:30 AM EDT :
Treasuries began the day in the green but a stronger than expected home sales report has reversed the advance and bonds across the maturity spectrum are currently in negative territory. The bullish news may be providing some support for stocks but rising oil prices are exerting counter-pressures and the indices are narrowly mixed.

In the only major economic release of the day, the National Association of Realtors said that the seasonally adjusted, annualized pace of existing home sales rose by 3.9% to 6.69 million in February from 6.44 million in January (originally reported as 6.46 million). The acceleration, the largest in a year, surprised analysts who were predicting a decline of about 1.7% to 6.35 million.

The Northeast experienced a surge of 14.2% to a 1.210 million rate. This was the largest increase in the region in three years and the pace was the highest since August of 2005. The sales pace rose in the Midwest by 3.9% and in the South by 1.6%. The rate was unchanged in the West.

The report said that inventories of existing homes on the market rose by 5.9% last month, the biggest increase since last April. But with the increase in sales pace, inventories represented 6.7 months’ worth of sales, up only slightly from 6.6 months in January. Average and median home prices edged up in February but only after falling sharply in January.

Weakness in the housing sector in the past year had raised economic concerns that Fed watchers believed would eventually lead the monetary policy committee to cut rates. But today’s better than expected sales report suggests that the housing situation may not be as dire as previously thought.

Additional pressure on bonds is coming from additional supply headed to market next week. The Treasury will be conducting its monthly 2-Year Note auction on Wednesday and its 5-Year Note auction on Thursday. Moreover, the economic calendar is relatively heavy next week with two consumer indicators and reports on new home sales, durable goods, gross domestic product, personal income and spending, construction spending, and manufacturing in the Chicago area.

source: www.lioninc.com

Information Provided By:
May Montana
Loan Consultant-Notary Public
Guarantee Mortgage Corp
[email protected]
(415) 694-5513

Filed under: mortgage, news , ,

March 17, 2007 • 3:15 am 0

deep in the heart of SOMA

That looks like a sweet kitchen to cook in! When I take a look at 464 Tehama (aka 967 Howard St) next week, I’m going to see if I forget 5th and Tehama is just out the door. That is one clean [extremely] urban home.

[update: Wholly Toledo Batman! This place is fantastic--I'd be happy to cook in that kitchen any day, any time! The location has little impact on the space as once you step into the door, you have no idea that you are on Tehama and 5th. The home is extremely private and secluded and everything is done with the finest of materials (flush mount flat screen t.v.'s in several rooms (see below), flush mount espresso machine, built in sound system, all top of the line fixtures, etc.). It's extremely contemporary and a touch cold, but one of the coolest "loft" spaces I've seen in San Francisco in a while. Email me if you'd like any more information.]

464 Tehama [home-sanfrancisco.com]
967 Howard St. [mls]

Filed under: Ggold, SoMa, listings, real estate , , ,

March 2, 2007 • 6:22 pm 0

Glen Park Cottage

OPEN HOUSE SCHEDULE:
SUNDAY 3/4 FROM 1:00-4PM
THURSDAY 3/6 FROM 6:00-8PM

99 Surrey is an adorable cottage in the heart of Glen Park! This is a cute historic cottage that is just blocks from transportation (bart, freeway, bus), shopping, cafe’s and freeway access. This home is perfect for first time home buyers, developers (RH-2 lot), condo seekers, investors, or as a a pied-a-tier. It’s the perfect condo alternative and for the cherry on top… 99 Surrey is the lowest priced home in the neighborhood, has a private landscaped garden and no HOA fees! The home gets ample light, has a large bedroom, office, eat-in kitchen, and sizeable living room.

Also, if you ask nicely and visit, we will show you some drawings (that have not been submitted to the city yet) of what a contemporary, 2-unit building with parking looks like on this lot.

Larger Than It Looks (Although Not By Much) [socketsite]

Filed under: Glen Park, Home San Francisco, exclusive listing, real estate , , , ,

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Molly Loves the Ocean

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004/365 my own version of the city.

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