Articles Filed Under: Real Estate Economics

(721 posts)
Mortgage Rates Move Higher, Biggest Increase Of The Year

Mortgage Rates Move Higher, Biggest Increase Of The Year

The average rate for a conforming 30-year fixed-rate mortgage jumped from 4.12 to 4.23 percent over the past week, the highest rate since the beginning of May and the biggest one-week increase since the beginning of the year. Speculation that the Federal Reserve might start raising rates sooner than expected helped fuel the jump.  And while Read More »

600 Years To Underground Utility Lines In SF At Current Rate

It will take an estimated $3.6 billion to underground the remaining 470 miles of overhead utility lines in San Francisco.  And at the current rate of funding for the initiative, or lack thereof, it could take 600 years to complete, according to the latest numbers from the City Controller’s Office. Last week, San Francisco’s Local Read More »

More Homes On The Market In SF This Week, Slightly Lower YOY

With typical seasonality in play as people (and their agents) return from vacation, the number of homes listed for sale in San Francisco increased by 150 (36 percent) over the past week, but overall inventory remains 2 points lower than at the same time last year (6 percent higher for single-family homes, 7 percent lower Read More »

Cost To Build Affordable Housing On Sixth Street: $690K Per Unit

Cost To Build Affordable Housing On Sixth Street: $690K Per Unit

With a 99-year ground lease from the City of San Francisco for which Mercy Housing will pay a total of $99 as proposed, the projected cost of building the affordable housing development to rise on the southwest corner of Sixth and Howard is $47,333,630, which includes $4,600,000 in consideration for the land. With $1,110,264 allocated to Read More »

Property Tax Rate In San Francisco Set To Drop

Thanks to rising property values, the property tax rate for the City and County of San Francisco is slated to decrease from $1.1880 per $100 of assessed value in the current Fiscal Year to $1.1743 per $100 of assessed value for Fiscal Year 2014-2015, a drop of 1.15 percent. For properties that haven’t changed hands or been Read More »

Fed Raises Possibility Of Raising Rates Sooner Than Anticipated

With indications of a rebound in economic activity in the second quarter and “sufficient underlying strength” to support ongoing improvement in the labor market, Federal Reserve officials have raised the possibility of removing stimulus “sooner than…currently anticipated” but have no immediate plans to ease their current “accommodative” stance and raise the federal funds rate to Read More »

SF’s Record Employment Run Continues, Hiring Jumps In July

SF’s Record Employment Run Continues, Hiring Jumps In July

While the unemployment rate in San Francisco ticked up from 4.6 percent to 4.9 percent in July due to a sharp increase in the size of the city’s labor force, the largest increase in over four years, the number of San Francisco residents with jobs increased by 3,600 last month and employment in San Francisco has Read More »

Millions Of Borrowers With Low FICO Scores About To Get A Boost

Millions of consumers with low FICO scores are about to get a boost and access to lower cost loans. Announcing a “a more nuanced way to assess consumer collection information,” the Fair Issac Corporation’s new model number nine for calculating a consumer’s FICO score will no longer include a ding for any bills that ended Read More »

Lending Standards Loosening, More Jumbo ARMs In The Market

The availability of mortgage credit is increasing, driven by a rise in the number of jumbo Adjustable Rate Mortgage programs in the market, according to the Mortgage Bankers Association’s latest Mortgage Credit Availability Index. In addition, minimum credit scores and maximum loan-to-value ratios for FHA and VA loans have been loosened while the availability of Read More »

Inevitable Slowdown For S.F. Rents, Acceleration For The East Bay

While the average asking rent for an apartment in San Francisco rose to $3,229 in the second quarter of 2014, up a little over 9 percent since the second quarter of 2013 and 45 percent over the past four years, the vacancy rate for large apartment buildings in San Francisco has increased from 3.8 percent Read More »

Tenant Buyouts Are On The Rise In S.F., As Are The Dollars Involved

Tenant Buyouts Are On The Rise In S.F., As Are The Dollars Involved

The number of tenants in rent controlled apartments who received a buyout offer to vacate and sought counseling from the San Francisco Tenants Union has increased from 90 in 2007 to 175 in 2013. While the maximum offer reported to the Tenants Union was $80,000, the average offer was closer to $21,000 with a median Read More »

Freddie Mac Lowers Mortgage Rate Forecast For 2014

Having forecast the average rate for 30-year fixed mortgages would begin rising in the second half of 2014 and end the year at “around 4.6 percent” as of two months ago, Freddie Mac lowered their forecast today and now expects the average 30-year fixed mortgage rate to end the year at at “around 4.4 percent.” Read More »

Record Employment In SF: 60K More Paychecks Than 4 Years Ago

Record Employment In SF: 60K More Paychecks Than 4 Years Ago

While the unemployment rate in San Francisco ticked up from 4.4 percent to 4.6 percent last month as the size of the city’s labor force grew, the number of San Francisco residents with jobs increased by 700 and employment in San Francisco has hit a new all-time high. According to California’s Employment Development Department, the Read More »

Bond, Affordable Housing Bond: Beyond The Battle Of The Ballots

Officially lobbed by Supervisor Chiu, Mayor Ed Lee is slated to answer the following “housing crisis” question of the week in a prepared address to San Francisco’s Board of Supervisors on Tuesday: “Mr. Mayor, last month, Supervisor Jane Kim and three colleagues introduced a ballot measure that would limit the production of market rate housing Read More »

The State Of San Francisco’s Downtown

The State Of San Francisco’s Downtown

Having emerged from “growing public awareness during the 1970’s that development threatened the essential character of downtown San Francisco,” San Francisco’s adopted Downtown Plan states that, “without sufficient and appropriate housing to serve new commercial development, local housing costs would increase, thereby compromising the vitality of downtown.” The Plan’s vision is to create a vibrant Read More »