We had a very good response. It was only in the market two weeks.

San Francisco, CA (PRWEB) June 20, 2013

Sean Sullivan, Senior Sales Leader with Climb Real Estate Group in San Francisco was recently featured in a KRON4 news report featuring reporter Maureen Kelly about the second Rincon Tower which was put on hold five years ago after the housing recession of 2008. The second building, known as Rincon II has resumed construction. Rincon I finally sold out last fall. According to the KRON4 news report from late April(1), Rincon II was initially going to be condominiums for individual sale, but since resuming construction, the developers have changed their minds and have decided to make the units available for lease instead of for sale. Rincon is represented for sale by Polaris Pacific. Available now at ICON, these 1 and 2 bedroom homes feature contemporary, tasteful finishes located adjacent to shopping, transit, services, food and drink. Amazing views toward the top of the 6 story building. Represented for sale by Paragon Real Estate Group’s Suzanne Gregg and Jason Gorski.

Sullivan comments in the KRON4 news report that he would not be surprised if the developers change their minds again if there is a chance for them to get a better rate of return by selling instead of leasing. As it stands now it is not known what the market conditions will be in a year and beyond and if it will be more favorable to the developers to lease or sell. Sean Sullivan specializes in San Francisco real estate new construction and more information about other new properties can be found on his website. Century Condominiums, a chevron shaped building will open for sales late this summer.  They are 1 and 2 bedroom floor plans at the crossroads of Duboce Triangle and Upper Market. The View Penthouses feature commanding views and large private terraces. Represented for sale by Vanguard Properties’ Jean-Paul Samaha and Ed Deleski.

Another event to make international news featuring Sean Sullivan is the $82,000 parking space which recently sold in a condominium garage in San Francisco’s trendy South Beach neighborhood, near the Giants’ ballpark. This news was reported in the online news outlets Huffington Post, Britain’s Daily Mail, San Francisco Chronicle, the CBS Evening News, the Los Angeles Times and the Washington Post, among others. Sullivan commented in the Washington Post(2) “We had a very good response. It was only in the market two weeks.” Sullivan added that at the height of the property boom he sold a parking spot in the same building for $95,000. In the UK’s Daily Mail(3) Sullivan said the space was in a good part of the garage, and said the company struggled at first to put a price on it. The Linea condominiums are perhaps the most architecturally stunning residential development along Upper Market, Linea offers myriad views and floor plans to suit buyers who crave privacy or who want to be front-and-center in this dynamic location.  Glass curtain wall construction allows for floor-to-ceiling glass in most homes.  With the historic Art Deco San Francisco Mint and a new Whole Foods as neighbors, Linea graces an already remarkable location. Represented by for sale by Polaris Pacific.

About Sean Sullivan San Francisco Real Estate Agent

Sean Sullivan serves as Climb Real Estate Group’s Senior Sales Leader, where he oversees the brokerage’s agents and resale business. With more than fifteen years in the real estate industry, Sullivan has sold over $600 million in real estate and built a reputation for his sales leadership in the Bay Area — from San Francisco, San Mateo, and San Jose.

Sullivan has extensive experience in a variety of real estate transactions, both on the buying and on the selling sides, and expertly collaborates with attorneys, brokers, and the real estate community at large.  He has strong relationships with developers and buyers alike, who trust his honesty, market knowledge and vast experience in negotiating, renovating and problem solving.

As Senior Sales Leader, he is very involved in the real estate community as a member of SFAR, CAR, and NAR.  He is also active in SPUR San  Francisco Planning Urban Research Association, California Preservation Foundation, The National Trust for Historic Preservation, Jewish Vocational Services, SF Bicycle Coalition and Panhandle Park Stewards. Today, he continues to provide advice to his broker peers and volunteers his time teaching and participating in seminars.

Originally a Connecticut Yankee, he has lived in San Francisco for 15 years.  His interests include family, urban planning, fitness.  He has also been fortunate to travel to over 30 countries. He currently resides in the North Panhandle.

Contact Information

Sean Sullivan, Senior Sales Leader

Climb Real Estate Group

San Francisco, CA

415-215-0554

Sean(at)climbsf(dot)com

http://sfresource.com

(1) http://news.kron4.com/video/second-rincon-tower-starts-to-rise-above-san-francisco/

(2) http://articles.washingtonpost.com/2013-06-13/national/39940496_1_san-francisco-giants-real-estate-prices-parking-space

(3) http://www.dailymail.co.uk/news/article-2341399/Tiny-parking-spot-sells-82-000-San-Franciscos-South-Beach-weeks-offered-sale.html#ixzz2WVtBr0Vi

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Article source: http://www.prweb.com/releases/2013/6/prweb10852842.htm

Housing construction numbers for September were “blowout” and “smashed consensus,” according to analysts who follow the sector. Single family starts rose 11 percent from August and are up nearly 43 percent from a year ago. This from the depths of the housing recession.

Multi-family starts and permits, however, garnered a different headline: “Headline Risk as Data Cross 10-year Averages,” came the report from Cantor Fitzgerald.

Building permits for multi-family buildings, which means five units or more, and which will be rental buildings, not condos, jumped 93.4 percent from a year ago to 323,000, which is above the 10-year average of 296,000.

“While the silver lining is good news for the broader ‘housing recovery,’ the elevated permitting activity in the 5+ unit segment may set off alarms in apartment-land,” write David Toti and Gaurav Mehta in the Cantor report. “We expect the multifamily REITs could be under pressure today.”

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They offer the caveat that the group has been underperforming of late and that fears around supply are already priced into current valuations. But it all begs the question, as single family home building recovers, are investors throwing too much cash at new rental apartments? This new construction won’t come on line for at least two years, when housing may be surging again.

(Read More: Property Flippers Are Back as Housing’s New Middle Men)

In order to answer the question, we need to put a few things in perspective about these total housing starts stats:

Peter Boockvar of Miller Tabak: “At a starts level of 872,000, it comes close to matching the level of starts at the depths of the 1991 recession when starts fell to 798,000 and before that, starts bottomed at 837,000 in the recession of 1981. This of course is not adjusted for population growth where we had about 250 million people in 1991 and 225 million in 1981 versus 310 million today.”

(Read More: Where the Mega-Rich Live)

The bottom line is we’re up, but we are up from the very bottom, so these big single family starts percentage jumps don’t mean that we are anywhere close to even normal times. What’s driving the starts? Demand, plain and simple.

“It is underlying demographic demand that is finally starting to kick in,” notes Patrick Newport of HIS Global insight, citing an annual US population increase of about 3 million and an annual household increase of 1.1-1.3 million (historically). So if demand is growing for single family housing, does that necessarily mean it is all being pulled from multi-family rentals? Maybe not.

“There is still a tremendous amount of demand for apartments,” says Mitch Roschelle of PWC. “The supply side of the equation is a different story, there’s clearly been a run-up in building permits and the projections of growth in supply continue to be strong, however, the question becomes is there too much risk of overbuilding? If you look back at the last several overbuilding cycles that we’ve had, whether it be the one after the SL crisis or the one from the 90s or the one from this decade, we really haven’t been a situation where we’ve overbuilt multifamily in the last 6-7 years, so we don’t have an excess of supply, and we don’t have an excess of financing to fund future growth in supply.”

(Read More: Is Housing Recovering as Much as Everyone Thinks?)

PWC, which put out its 2013 forecast today, does not see overbuilding risk. Despite the recovery in the single family housing market, there are still many Americans who cannot afford to buy a home and/or cannot qualify for today’s mortgages due to impaired credit. The worst of the housing crash may be over, but the scars are not yet healed, both fiscal and emotional. The prime demographic for home buying, those in their 20s and early 30s, are still seeing homeownership is as risky. Either that, or they don’t have the down payment or the credit scores to get in the game.

Questions?  Comments?  And follow me on Twitter @Diana_Olick