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Are rising rates constraining home sales?

SocketSite reports that mortgage rates, which have been inching up recently, may be behind a minimal increase in pending home sales last month. However, the site counsels perspective.

While higher borrowing costs are bearing the brunt of the blame for the slowdown in home sales, and mortgage rates have increased 35 percent from an all-time low of 3.31 percent in November of 2012 to around 4.5 percent today,” the site says, “keep in mind that mortgage rates remain over 30 percent lower than their average of 6.7 percent since 1990 and are nearly 50 percent lower than average over the past 40 years.”

In its Pending Home Index for November, the National Association of Realtors found that there were home-sales increases in the South and West, while there were declines in the Northeast and Midwest. NAR chief economist Lawrence Yun said in a statement that the market was flattening: “We may have reached a cyclical low because the positive fundamentals of job creation and household formation are likely to foster a fairly stable level of contract activity in 2014.”

The index, which is a forward-looking indicator based on contract signings, went up 0.2 percent in November from a downwardly revised 101.5 in October.

Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners– and feeds the dreams of those who wish they could live in Tony Bennett’s ‘City by the Bay.’ Call 415-577-0809 or email cblase@paragon-re.com. www.ceceblase.com

This Weekend: 2nd Annual Ugly Sweater Party

And you thought it was time to put away your ugly Christmas sweaters? For shame! The Second Annual Ugly Sweater Party, which takes place Saturday, Dec. 28 at 9 p.m. at Public Works (161 Erie St., San Francisco) is here to tell you otherwise.

Hosted by DJ Mathew Jonson, one of electronic dance music’s most distinctive voices, the event offers an intriguing fusion of music and populist ideas. Also featured are Hrdvision, Ewan Pearson and Kate Simko.

Making its San Francisco debut will be the group midnight operator, consisting of Jonson and his brother Nathan.

Tickets are $10-$25 presale. Make it a great last weekend of 2013!

Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners– and feeds the dreams of those who wish they could live in Tony Bennett’s ‘City by the Bay.’ Call 415-577-0809 or email cblase@paragon-re.com. www.ceceblase.com

What will one month’s SF rent buy?

Wondering what the average San Franciscan’s monthly rent – $2,800 – will buy besides a living space? Estately was wondering that too, and came up with this article as a result.

So what can that cash buy? Here’s a few examples:

  • A 12-day sojourn to South Africa
  • An epic pizza party
  • A home in Toledo, Ohio.

Tempted? Read on to find out more! Then you can rejoice in the fact that you live in one of the most amazing parts of the world hands down, high rent or not.

Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners– and feeds the dreams of those who wish they could live in Tony Bennett’s ‘City by the Bay.’ Call 415-577-0809 or email cblase@paragon-re.com. www.ceceblase.com

This Weekend: Count Basie Orchestra at Yoshi’s San Francisco

Tonight and tomorrow, Dec. 20-21, you have the opportunity to see a classic take the stage at Yoshi’s San Francisco. The legendary Count Basie Orchestra directed by Denis Mackrel, will be performing at 8 p.m. and 10 p.m. both nights.

Tickets are $35 for the 8 p.m. shows and $29 for the 10 p.m. shows. Tonight’s 8 p.m. show is already sold out, so don’t hesitate!

The orchestra was begun in 1935 by William Count Basie, with Kansas City as its home base. Within a year, America had hopped on the bandwagon and dubbed the orchestra “The Swingingest Band in All the Land” – a phenomenon that is still going strong today.

Though Basie passed away in 1984, the orchestra has been led by powerhouses such as Thad Jones, Frank Foster, Grover Mitchell and Bill Hughes. Now Mackrel will strut his stuff. Enjoy!

Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners– and feeds the dreams of those who wish they could live in Tony Bennett’s ‘City by the Bay.’ Call 415-577-0809 or email cblase@paragon-re.com. www.ceceblase.com

San Francisco Housing Units: Inventory By Property Type

After investigating with the Departments of Planning and DPW, their inventory and pipeline reports, U.S. census data, MLS data, Andy Sirkin, NAHB and a half dozen other resources, we came up with the following estimates about San Francisco housing inventory:

paragon

Additional findings:

  • 124,000 housing units are owner occupied. About 4% to 4.5% of San Francisco houses and 6.5% to 7% of condo, co-ops and TIC units are sold annually.
  • 222,000 housing units are rented out and 25,000+units are vacant at any given time

* These are very approximate estimates based on data from the U.S. Census, the SF Depts. of Planning & Public Works, MLS and other sources deemed reliable.

Source : http://bit.ly/1cDO22d

New housing laws take effect in 2014

New housing laws take effect in 2014

Property owners, beware: come next year, there are a few changes a-coming that may well have an impact on you. Daniel Bornstein of the law offices of Bornstein & Bornstein offers a list of these laws, as well as a 2014 Laws Info Sheet to keep you up-to-date on the new rules and regulations.

These new laws cover a wide range, from landowner responsibilities to utility rates to smoke alarm requirements. Read on for more.

1) Prepaid rental listing service agents must be licensed.

2) Landowners with shared boundaries must also share responsibility to maintain those boundaries.

3) Owners of both multi-family and single-family rental units must test and maintains moke alarms in all units or on their properties.

4) Landlords must post utility rate schedules.

5) Human trafficking victims are entitled to tenant protection.

6) Owners of San Francisco multi-residential properties that permit smoking in some units must complete a process to designate each unit as either smoke-free or smoke-optional, provide applicants with a list designating units as smoking-optional and disclose this fact prior to entering into a lease agreement.

Hope this helps!

Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners– and feeds the dreams of those who wish they could live in Tony Bennett’s ‘City by the Bay.’ Call 415-577-0809 or email cblase@paragon-re.com. www.ceceblase.com

Let’s look at housing inventory and annual sales percentage

This chart covers both subjects. Keep in mind that it makes sense that houses would turn over less often than condos and TICs — and indeed, this seems to be the case.

Overall, it looks as though about 5.5 percent of existing houses, condos, co-ops and TICs sell each year, including both MLS and non-MLS sales, but not including new-construction condos, whose number of sales can vary widely by year.

Of course, figures are nothing without context. If you want to make sense of all this, give me a call.

Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners– and feeds the dreams of those who wish they could live in Tony Bennett’s ‘City by the Bay.’ Call 415-577-0809 or email cblase@paragon-re.com. www.ceceblase.com

Hot links, anyone?

Here’s some San Francisco hot links – and they’re tasty! These URLS will take you to lots of granular data on San Francisco’s most recent home sales and new listings. All the listing data is here and searchable in a variety of ways, including price, neighborhood and bedroom count.

This list always has the last two weeks of reported MLS sales, with access to listing info and photos.

This list has the last two weeks of new listings, or listings that have been updated– such as “Back on Markets” (a more frequent occurrence these days), or price reductions.

Please remember these links are only good through the end of December. If you want new lists after that, email me and I will send you the updated link for January.

Wishing you happy holidays in advance!

Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners– and feeds the dreams of those who wish they could live in Tony Bennett’s ‘City by the Bay.’ Call 415-577-0809 or email cblase@paragon-re.com. www.ceceblase.com