Blog with news about the San Francisco high-rise condominium and loft market.
There are currently 171 blog entries related to this category.
Thursday, May 27th, 2010 at 9:20pm. 0 Comments.
77 Van Ness Aveue #702
San Francisco, CA 94102
Offered at $399,000
Neighborhood: Van Ness/Civic Center
Property Type: Condo
- Hayes Valley
- New Construction
- Floor -to -Ceiling Windows
- In-Unit Laundry
- Transit Friendly
Sophisticated studio in recently completed 77 Van Ness! With exceptional natural light and stunning architectural features at your finger tips, this home features generous space and one car parking. The in unit`` laundry and large closet make for a wonderful home. Your home is also steps from public transit as well as nestled near the heart of Hayes Valley.
Please visit: www.77VanNessStudio.com
Tuesday, May 11th, 2010 at 9:17pm. 0 Comments.
HOW LENDERS CREATE RATE SHEETS
Zero-point rates on loans up to $729k held at record lows for the second week last week even though mortgage bond levels might suggest rates would have dropped further. Jumbos also held steady at very attractive levels. Mortgage bonds benefitted as the EU/IMF’s $140b Greece bailout caused investors to sell European debt and buy more conservative U.S. mortgage and Treasury bonds. When bond prices rise on these buying rallies, rates drop.
But it’s not actual mortgage rates that drop when mortgage bond prices rally, it’s mortgage bond yields (the rate of return on those bonds) that drop. Then lenders re-price mortgage rate sheets based on those lower yields. This lowering of mortgage rates didn’t happen to…
Monday, March 29th, 2010 at 6:10pm. 0 Comments.
FED RATE STIMULUS ENDS MARCH 31
As most know, the Fed has been using a $1.25 trillion budget to buy mortgage bonds since January 1, 2009 in order to elevate mortgage bond prices and push rates down. Rates are 1.125% lower than they were when the program was announced, and the Fed will use up it’s final $3b next week, then the program is over. Below is more information on what this means going forward.
Rates rose about .2% last week, so any quote a mortgage shopper received before March 23 will be higher now. This rise came from overall bond market panic about the ability of governments to meet future bond repayments. This started with worries about Greece and Portugal, then spread further in Europe and there's been ongoing rumors about whether…
Wednesday, March 24th, 2010 at 8:09pm. 0 Comments.
Despite volatility last week that caused rates to move up and down about .2%, we ended the week even. Business and consumer inflation reports both showed that inflation is under control. The Fed reiterated this after their FOMC meeting Tuesday, and left overnight bank-to-bank and Fed-to-bank rates at .25% and .75% respectively.
Rates were especially volatile Friday as mortgage bond traders contented with the threat from Moody’s and Fitch that U.S. debt may lose its AAA rating, and the volatility will continue next week. We’ve got 2, 5 and 7 year Treasury auctions, and while these shorter durations don’t directly compete with mortgage bonds, it’s still more bond supply—too much supply can cause mortgage bonds to sell off which pushes rates up.
Wednesday, March 10th, 2010 at 5:40pm. 0 Comments.
We live in a constant storm of analysis and opinion as to what is happening and will happen in real estate. Due to national statistics in December (and other economic indicators), some have predicted a nasty "double dip" in the home market subsequent to the recovery which began last spring. But the market goes into hibernation in December: there are far fewer transactions, mostly by first-time buyers purchasing at lower price points, while families and upper-end buyers generally withdraw for the holidays. When the data is reduced and skewed, it's less reliable. January isn't much better because it takes a while for the market to wake up.
Therefore, the market data for February, as seen in the charts below, is of particular interest. While it's unwise…
Wednesday, March 10th, 2010 at 5:50am. 0 Comments.
Despite a rate uptick last Friday after a better than expected February jobs report, rates are holding to their sub-5% levels reached last week. To be specific: the market closed on Friday at 4.75% on a 30yr fixed for a single family home with at least 20% equity, a loan of $417k or less, points of 1%, and a borrower credit score of 740 or greater. Headlines can be misleading since rates vary based on property type, borrower profile, loan amount, and fees.
Also be aware that most press reports on rates are based on Freddie Mac’s weekly average nationwide rate survey which is published Thursdays. The report is for the rates on loans with parameters noted above, and headlines rarely mention average points for the average rates highlighted. So if you’re…
Friday, March 5th, 2010 at 6:09pm. 0 Comments.
Tenancies in common, AKA TICs, were once billed as panacea for the sickness that is SF real estate prices. First of all, properties of this classification have traditionally been less expensive than non TIC options. And because the buyers would pool resources, their collective buying power rose: banks that approved TIC loans, for instance, would take the highest credit rating from all the buyers in the deal, as well as the highest income. This most qualified person or group would then sort of "represent" the whole group, though others in the group might not enjoy the same great credit or income, thus making a larger purchase a possibility when before, it wouldn't have been.
The disadvantage to that arrangement should be obvious. If you are the…
Thursday, February 18th, 2010 at 6:52am. 0 Comments.
You're invited to Arterra's 72 Hour Closeout Event for your last chance to purchase a new home in San Francisco's vibrant neighborhood, Mission Bay. February 20th – 22nd is your final opportunity to take advantage of more than $1,390,000 in price reductions on the remaining homes at Arterra.
Don't wait a moment longer - with only 4 homes remaining there is still a great selection of exciting of floor plans from which you can choose. With prices starting in the $500,000s and down payments as low as 3.5% there has never been a better time to buy, but buyers must act fast! Visit next weekend and tour our beautifully appointed model homes and our full-service onsite Sales Center, to find your perfect home at Arterra.
Arterra offers outstanding…
Thursday, February 11th, 2010 at 5:15pm. 0 Comments.
For Buyers, interest rates remain near historic lows (with many pundits expecting a jump if the Fed stops buying mortgage bonds on March 31st as planned); the home-buyer tax credits have been extended through April 30th ($6500 to $8000, subject to various conditions); and we appear to be at, near or just past the bottom of the market (of this latest cycle) after general price declines in San Francisco of 15% - 25%. The buy versus rent equation is at its most appealing in years.
For Sellers, there is strong demand for well-priced properties; inventory levels are low; average-days-on-market (the time between going on market and accepting an offer) are declining; and the percentage of listings which have accepted offers has increased significantly. A good…
Monday, February 8th, 2010 at 5:40am. 0 Comments.
Real-time listing prices in these areas are dropping, and experts expect them to fall further this year.
During the housing bust, while the effects of foreclosures and a crushing recession tore through real estate markets in states like Florida, California and Nevada, the Denver metro seemed insulated from economic harm. It has consistently performed relatively well among the 20 major metropolitan housing markets tracked in the S&P/Case-Shiller Home Price Index, which measures sale prices, and is published with a two-month lag. In its January report, covering the year ending in November, Denver topped those markets with a 0.5% home price increase.
But real-time asking price data provided to Forbes by Altos Research, a Mountain View, Calif.-based…