Benchmark Mortgage Rate Drops To A Three-Month Low

Benchmark Mortgage Rate Drops To A Three-Month Low

Having dipped back below 4 percent four weeks ago, the average rate for a 30-year mortgage has dropped to 3.84 percent, the lowest average rate since May and versus 4.10 percent at the same time last year, according to Freddie Mac’s latest Primary Mortgage Market Survey. The 30-year rate,... Read More »

Locksley Hall Fetches $47.5 Million

Locksley Hall Fetches $47.5 Million

Locksley Hall, the 9,235 square foot mansion perched on an acre of land with a pool at the southern tip of Belvedere, overlooking San Francisco with bridge to bridge views, has sold for a record setting $47.5 million. Built around 1900 for a prominent banker, the sellers who acquired the... Read More »

Pending U.S. Home Sales Index Relatively Unchanged In July

Having slipped from a nine-year high in June, the National Association of Realtors Pending Home Sales Index eked out a 0.5 percent gain in July. The index, for which 100 denotes an average level of activity, currently measures 110.9 which is 7.4 percent higher on a year-over-year basis versus 8.2... Read More »

San Francisco Home Sales And Median Price Slip

San Francisco Home Sales And Median Price Slip

Recorded sales activity for single-family homes and condos in San Francisco slipped 4.6 percent from June to July and is running 2.0 percent lower versus the same time last year versus 5.3 percent higher on a year-over-year basis last month. Keep in mind that sales activity typically drops 5 percent... Read More »

Grubstake Buyer Pursuing Redevelopment Plans

Grubstake Buyer Pursuing Redevelopment Plans

Prior to closing escrow on his purchase of the iconic Grubstake restaurant at 1525 Pine Street, buyer Nicholas Pigott quietly engaged D-Scheme Studio to draft plans for razing the restaurant and constructing a slender seven-story building on the Polk Gulch site, with 28 small residential units averaging around 400... Read More »

Development Will Level This Popular Flower Stand, But…

Development Will Level This Popular Flower Stand, But…

Plans to level the Sunset District flower stand and two undeveloped lots on the southwest corner of Quintara and 19th Avenue have been submitted to Planning.  And as proposed and rendered below, a four-story building with 42 apartments and parking for 56 cars would rise across the 1001 Quintara... Read More »

Pace Of New U.S. Home Sales Ticks Up In July

Pace Of New U.S. Home Sales Ticks Up In July

Having suddenly dropped 6.8 percent in June to the slowest pace in seven months, the seasonally adjusted pace of new single-family home sales in the U.S. gained 5.4 percent in July. At a rate of 507,000 annual sales, the current pace is 25.8 percent higher than at the same... Read More »

The Infamous “G” Slashes Infinity Penthouse Price By 27 Percent

The Infamous “G” Slashes Infinity Penthouse Price By 27 Percent

While it was never officially listed on the MLS, the infamous Gurbaksh Chahal (a.k.a. “G”) has been trying to unload his 3,355 square foot penthouse unit #37B atop the Infinity at 301 Main Street for $12 million, as we first reported in April. And last night, the penthouse was... Read More »

Bay Area Condo Values Slip, Single-Family Home Values Tick Up

Bay Area Condo Values Slip, Single-Family Home Values Tick Up

Single-family home values within the San Francisco Metropolitan Area gained 0.4 percent in June while condominium values slipped 0.5 percent, according to the latest S&P Case-Shiller Home Price Index. The San Francisco index for single-family homes is currently running 9.5 percent higher on a year-over-year basis. And having gained... Read More »

It Was Black Monday In China And U.S. Markets Sang The Blues  

China’s benchmark Shanghai Composite Index tumbled 8.5 percent today and the U.S. markets followed suit, with the Dow Jones Industrial Average shedding 3.6 percent to 15,871.35 and the S&P 500 closing at 1,893.21, down 3.9 percent for the day and a technical correction of 10 percent over the past... Read More »