San Francisco
One Rincon Hill – Sold #2802, 2 Bed/2 Bath Deluxe Record Sale
Matt Finley just sold a 2 bedroom, 2 bathroom deluxe condo at One Rincon Hill for the highest cost per square foot ever to be recorded for the southeast corner “02″ plan. At a selling price of $1,700,000 and a cost per square foot of $1,172, #2802 set a new standard in sales in the building.
For more information about buying at 425 1st Street or to see his newest listing at One Rincon Hill, contact Matt Finley at matt@climbsf.com or 415.
Real Estate Market Predictions for 2013: New Mortgage Rules
New Mortgage Rules in 2013? Jed Kolko, chief economist of Trulia, has shared his predictions for the real estate market this year, with analyses of what happened in 2012 and how we can expect things to change this year.
OUT: Robo-signing Settlement. IN: New Mortgage Rules. In February 2012, 49 states and five large banks agreed to the $25 billion robo-signing settlement, which funds loan modifications, compensations, and other programs. It was intended, in part, to punish banks for their foreclosure practices, but wrongfully foreclosed-upon consumers received very little money, and some states have diverted their settlement funds from housing toward other purposes. In 2013, the big housing-policy drama will be trying to prevent a future housing crisis rather than dealing with the last one. The Consumer Financial Protection Bureau will have announced new mortgage rules in January to define which mortgages are judged to be beyond a borrower’s ability to repay and would therefore trigger legal and financial implications for lenders. These rules need to strike a delicate balance between protecting consumers from the types of high-risk loans that contributed to the last crisis and giving lenders the incentive to expand mortgage credit. Why it matters: new mortgage rules will determine whether mortgage credit remains tight or finally starts to become more available to people who want to buy a home.
To find out whether new mortgage rules this year might affect your home sale or purchase, contact real estate professional Vi Pavlicevich at 408.540.4069 or vi@climbsf.com.
Source: http://pro.truliablog.com/industry-2/housing-in-2013-whats-in-whats-out/
Just Listed: 2 Bed/2 Bath Condo at 255 Berry in Mission Bay
Jessie Lee has just listed a 2 bedroom, 2 bathroom condo at 255 Berry in Mission Bay for $999,000. Mission Bay is a hot market right now, especially for 2 bedroom condos—Jessie’s listing is the only one available right now. It’s also the most popular floor plan at 255 Berry, featuring two split master bedrooms with a large living room between them and bamboo hardwood floors.
This home is great for investors, home nesters, or residents who are commuting to the South Bay or Financial District since it’s so close to Caltrain, Muni, and highways 280 and 101. AT&T Park is also just a short stroll away.
More information about Jessie’s 2/2 at 255 Berry is available on Climb’s website, or contact her directly for a showing at jessie@climbsf.com or 415.518.6402.
Jessie Lee is a certified REO professional and continues to broaden her professional network of REO networks agents, lending institutions, RE asset managers, and professional investors. Jessie is an urban loft, high-rise condominium, and single-family home expert. She works tirelessly with a skilled and specialized team of real estate professionals to locate and market only the most attractive and ideal properties for each of her valued clients. She is a skilled negotiator with a penchant for value. She has a firm, effective negotiating style and a growing list of satisfied clients.
For Sale: Parking Space at 88 Townsend for $85,000
Why pay $50 a day or $450 a month to lease a parking spot in South Beach? Rick Mei and Sean Sullivan have a secure garage parking space for sale at 88 Townsend Street listed for $85,000. It’s just one block from AT&T Park, the South Beach Marina, South Park and the future Warriors Arena and was recently featured on Curbed SF.
For more information about 88 Townsend Street #P142, contact Sean Sullivan at 415.215.0554 or sean@climbsf.com.
Real Estate Market Predictions for 2013: Will Inventory Bottom?
Will inventory bottom in 2013? Jed Kolko, chief economist of Trulia, has shared his predictions for the real estate market this year, with analyses of what happened in 2012 and how we can expect things to change this year.
OUT: Will Home Prices Bottom? IN: Will Inventories Bottom? The big question this year was whether home prices had finally hit bottom. We now know the answer is a resounding “Yes”: every major index shows asking and sales prices rising in 2012. The key question in 2013, though, is whether prices will rise enough so that for-sale inventory–which has fallen 43% nationally since the summer of 2010–will hit bottom and start expanding again. The sharp decline in inventory was a necessary correction to the oversupply of homes after the bubble, but now inventory is below normal levels and holding back sales, particularly in California and the rest of the West. Rising prices should lead to more inventory, for two reasons: (1) rising prices encourage new construction, and (2) rising prices encourage some homeowners to sell. The big question for 2013 is whether today’s price gains will continue strongly enough to encourage builders to build and homeowners to sell. Why it matters: more inventory will lead to more sales and give buyers more homes to choose from.
So far this year inventory has continued to drop. For more information about how this will affect your home sale or purchase, contact real estate professional Kristen Stuecher at 415.948.4888 or kristen@climbsf.com.
Source: http://pro.truliablog.com/industry-2/housing-in-2013-whats-in-whats-out/
Inner Mission: San Francisco’s Hippest Neighborhood for Silicon Valley’s Tech Professionals
The Inner Mission is rapidly becoming a hot destination for San Francisco’s new home buyers, as more and more of the up-and-coming neighborhood is being redeveloped as new construction condominium developments.
Close access to shuttle buses that commute to Silicon Valley (with onboard wifi) have brought an influx of tech and social media workers to the area, searching for modern, urban homes. While the southern edges of the neighborhood retain the traditional hip Mission vibe, with young renters and single families making up a majority of the population, the northern tip of the neighborhood is seeing a revitalization in the way of newly built condominiums.
With a reputation for hip and artistic residents, the Inner Mission has been a popular spot for young renters for years, and was recently voted the nation’s second hippest neighborhood by Forbes. Now, however, more and more high-income residents have chosen the Mission as their destination in recent years, and subsequently the area’s real estate market has consistently outpaced the San Francisco market as a whole over the past ten years. Price per square foot for Inner Mission homes has risen about 48% since 2008, while San Francisco has only seen about a 19% increase in per square foot price over the same time. Now, price per square foot for the Mission is sitting at around $684/sq. ft., while San Francisco’s average price is still $654/sq. ft., making the area a popular choice for investors.
To be among the first to get information on new developments in the Inner Mission, contact neighborhood professional Melody Hultgren at melody@climbsf.com or 415.601.6915.