Articles Recently Tagged: Affordability

(13 posts)
Short-Term Rental Scofflaws Hit With $276,000 Fine

Short-Term Rental Scofflaws Hit With $276,000 Fine

Two landlords who employed the Ellis Act to evict tenants from the rent-controlled units and then marketed the apartments as short-term rentals on Airbnb, Homeway and VRBO have been hit with $276,000 in penalties and fees to settle a lawsuit brought by San Francisco City Attorney Dennis Herrera last year.... Read More »

San Jose And San Francisco Prices Slip While U.S. Median Advances

San Jose and San Francisco remain the two most expensive major metropolitan areas in U.S. for single-family homes, but the gap between the two and the completion has narrowed a bit as the median price dropped for both areas in the third quarter of 2014. The median price for... Read More »

City Responds To “Gloomy” Outlook For Affordable Housing In SF

Responding to the Civil Grand Jury report which noted that the Mayor’s goal of creating 30,000 new and rehabilitated homes is San Francisco by 2020 “will provide some relief to the current shortage, but exactly how far it will go in addressing the affordability issue depends on many factors and... Read More »

Most Expensive Metro Area In The US? San Jose. San Francisco #2

While home-price growth in the U.S. has slowed to its slowest pace since 2012, up an average of 4.4 percent, year-over-year, the median single-family home sale price within the San Jose metro area, which includes Sunnyvale and Santa Clara, increased 11.3 percent from the first to second quarter of... Read More »

San Francisco Will Miss Its Affordable Housing Allocation By A Mile

San Francisco Will Miss Its Affordable Housing Allocation By A Mile

As was long ago determined by the California Department of Housing and Community Development (HCD) and the regional Association of Bay Area Governments (ABAG), in order to meet the growing demand for housing in San Francisco, the City was given a goal of building 31,193 housing units between 2007... Read More »

San Jose Most Expensive Metro Area In US, San Francisco #2

With a median single-family home sale price of $808,000 in the first quarter of 2014, “San Jose” ranked as the most expensive major metropolitan statistical area (MSA) in the United States, according to the National Association of Realtors. The “San Francisco” MSA, which includes Oakland and Fremont, ranked as... Read More »

Exceptional And Extraordinary Circumstances In San Francisco

Set at 80 percent of the combined land and structure values of single-family homes in San Francisco, the threshold for “demonstrably unaffordable and financially inaccessible housing” in the city is now $1,506,000, up from $1,342,000 ten months ago. While merging units in a building where the least expensive unit... Read More »

SF Sellers Are Moving Out, And Behind A Couple Of Buyer Myths

A couple of stats from a survey of Paragon Real Estate Group agents with respect to their last 12 months of activity in San Francisco: 60 percent of the sellers represented by Paragon are relocating outside of San Francisco. The main reasons for their moves: 1. schools (and other... Read More »

San Francisco’s City Attorney Sues Short-Term Rental Scofflaws

San Francisco City Attorney Dennis Herrera has filed two lawsuits against landlords in San Francisco for illegally converting their apartments into short-term rentals, which the property owners then marketed through online platforms such as Airbnb, Homeway, and VRBO. “In the midst of a housing crisis of historic proportions, illegal... Read More »

San Francisco Named Third Least Affordable Major Housing Market, Worldwide

San Francisco Named Third Least Affordable Major Housing Market, Worldwide

According to the 10th Annual Demographia Housing Affordability Survey of 360 housing markets worldwide, “San Francisco” is the third least affordable major metropolitan area, behind only Vancouver and Hong Kong, the least affordable market by a wide margin. The Demographia rankings are based on “Median Multiples,” median house prices... Read More »

Loan Limits Set To Fall From $729,750 To $625,000 In San Francisco

As we reported two weeks ago: While industry groups furiously lobby, it’s now t-minus two weeks until the super/jumbo conforming loan limits that provide for federally backed mortgages up to $729,750 in high cost areas like San Francisco are set to expire on September 30. As we first reported... Read More »

San Francisco Affordability: Is C.A.R.’s New Reality Already Old?

According to the California Association of Realtors and their First Time Buyer Housing Affordability Index, 23% of San Francisco households can currently afford to purchase a home priced at 85% of the local median. Their assumptions: $693,840 purchase price, 10% down, 5.69% financing (ARM), monthly payment of $4,420 (including... Read More »

From ‘Bubble-Proof’ To ‘Bubble Territory’ In Six Short Months

From ‘Bubble-Proof’ To ‘Bubble Territory’ In Six Short Months

Forbes compiles their list of ten most (and least) overpriced real estate markets. And while overpriced isn’t necessarily correlated with “expected to fall,” San Francisco is singled out as a market that fits their “bubble territory” profile: San Francisco, ranked fourth, fits that bill. Despite home prices growing at... Read More »