But it’s the tenants that aren’t listed — the ones with the stellar rooftop view — that have drawn a crowd of reporters on this sunny Tuesday afternoon.

This building, like 2,000 other spots in the Bay Area, is home to the bulky electrical equipment needed to send and receive cellphone signals.

For the privilege of housing their gear, phone companies pay thousands or even tens of thousands of dollars per month. In some cases, landlords make more from the towers on their roofs than they do from the tenants inside their building.

Because it’s so hard to get approval to build new towers, the same locations are often home to more than one carrier’s cell towers, and it has become commonplace to see towers from fierce rivals located right next to each other. And once one cell company makes its way in someplace, the others tend to follow.

This particular rooftop, for example, houses gear for Sprint, MetroPCS and ATT.

But it is a neighborhood in transition.

An area of peeled-away paint shows the spot that used to be home to gear from Sprint’s soon-to-be-shuttered Nextel network.

The newest arrival is a refrigererator-sized cabinet that houses Sprint’s 4G LTE gear as well as the systems needed to support older networks. Immediately adjacent is a slightly smaller box containing a backup system with enough battery capacity to power the network gear for four to eight hours.

The new gear, like other similar systems in San Francisco, have begun to bring LTE service to Sprint’s Bay Area customers, though it has yet to formally announce this area as one of its expanding network of markets with the high-speed wireless service.

Next to the new system is the one it is replacing. That unit, which handled fewer frequencies and managed fewer services, nonetheless occupied more than twice as much space. Though still up and running, that system will soon be dismantled, removed and recycled.

In addition to the cabinets, the roof is outfitted with a number of different antennas — several for each of the carriers, providing the maximum amount of coverage. The antennas also explain why it is no coincidence that the building has a sweeping panoramic view of the San Francisco Bay. In addition to being a breathtaking sight for the occasional repairman, the view means that the tower is also seen by a good part of the city — ensuring that the tower reaches a wide coverage area.

“Cell towers have the best view,” said Chris Brydon, Sprint’s area director for Northern California.

Of course, few people will ever see that view, given that it is home to vital and expensive computer gear. Plus, its radiation levels are high enough that the door leading to the roof is plastered with nearly a dozen warning signs.

The fact that this roof is already home to network gear means that the approval process to install LTE equipment is far simpler than trying to find a new location. As a result, many rooftops like this one are getting a makeover.

It’s a scene that has been playing out across America, as all the major carriers replace or augment their 3G systems with those capable of providing high-speed LTE service.

To help install all these new systems, Sprint calls upon a variety of other companies. Ericsson manages the installations and network operations, overseeing gear supplied by a trio of companies — Samsung, Alcatel-Lucent and Ericsson’s hardware unit.

The race to build out LTE has created a shortage of a particular specialty of workers — those who climb poles for a living. (In addition to pole-climbing skills, such workers also have to be engineers with a specialty in radio frequency technology — a qualification that significantly thins the applicant pool.)

“It’s one of the most sought-after skills in the industry,” said Joe Meyer, the 21-year Sprint veteran who serves as vice president of network service management.

Sprint’s new 4G LTE network cabinet (foreground, with door open), followed by the Sprint gear it is replacing and, furthest away, a rival carrier’s gear.

Article source: http://allthingsd.com/20130612/a-view-to-a-cell-san-francisco-mobile-towers-get-prime-real-estate/

(Read More: Home Price Gains Go to Double Digits)

First-time home buyers will be hit hardest by rising rates, just as they were beginning to trickle back into the market. They made up just 29 percent of buyers in April, according to the National Association of Realtors, the lowest level in two years. Historically, they usually account for about 40 percent of the market.

The 30-year fixed mortgage hit a record low rate of 3.47 percent in December of last year. Even though it is still well below historical norms, this small rise is already taking its toll.

“In my world it’s clearly slowing the market and pricing. Right now I have properties that are well-priced yet sitting on the market unsold,” said David Fogg, a real estate agent in Burbank, CA. “Should rates continue to rise, values will likely soften.”

(Read More: Borrowers Becoming Accidental Landlords)

—By CNBC’s Diana Olick; Follow her on Twitter @Diana_Olick or on Facebook at facebook.com/DianaOlickCNBC

Questions? Comments? RealtyCheck@cnbc.com

Article source: http://www.cnbc.com/id/100772471

“It was a bit of a nightmare because I don’t live in Greenville…I have no desire to go back to Greenville because my life is in DC,” says Patel. “It was a lot of coordination and I am still trying to collect over $2,000 from my tenants.”

Patel finally ended up selling the home recently at a large loss. She didn’t want to do a short sale because the process is long and risky, and she didn’t want to damage her credit.

(Read More: Record High New Home Prices to Grow)

While there are no real estimates of how many “accidental landlords” now inhabit the housing market, Realtors say they are one more cause of today’s low inventory issue. Usually a buyer is also a seller, making the transaction a wash in terms of inventory, but if the buyer is not a seller, and instead becomes a landlord, inventory takes a negative hit.

Home prices have been rising steadily, up over ten percent from a year ago, according to the latest reading from CoreLogic. Prices are still well below where they were during the housing boom, when so many people bought into the market.

As millions come above water, others are far below. Forty-eight percent of borrowers in Atlanta are underwater, 37 percent in Miami, 54 percent in Las Vegas and 37 percent in Sacramento.

(Read More: Homes Selling at Fastest Pace Since Boom)

It will take many years of price gains for these homeowners to see the light of equity.

Article source: http://www.cnbc.com/id/100764601

(Read More: US Pending Home Sales Tick Upward in March)

“In terms of our mix, less is going to Arizona and California today,” said Justin Chang a principal at Colony. “Our mix is increasing on east coast, Georgia, Florida, we’re active in Texas. I think over time some of the early markets will become a smaller part of our overall portfolio.”

Some investors are also starting to look at new construction, as home builders start to ramp up production again. The key is to find new product that is cheaper than replacement costs, which still is not that easy. So far investment has mostly gone only as far as distressed new homes, but as prices rise, that may change.

“On home building, there’s a lot of chatter about that. We are in some conversations with builders,” explained Chang, who admits the economics have not been compelling yet. “Over time you’ll see more and more of these transactions, and we may do one as well.”

Another potential strategy going forward is a consolidation, as investors turn away from distressed properties and focus on so-called “Mom and Pop” landlords, who may buy just one or two properties. There are an estimated 14 million single family rental homes owned by this cohort.

“If you think about all of the major institutions maybe owning 70,000 total homes compared to the market size of 14 million homes, the long term potential is enormous. Institutions are literally a fly on an elephant,” said Aaron Edelheit, CEO of The American Home, an Atlanta-based company that owns and manages about 2,500 homes. “We may look back and realize that the REO [real estate owned] to rental space was only the foundation for an exponentially larger industry with institutions owning hundreds of thousands, if not millions, of homes.”

(Read More: Next Boom? ‘Spec’ Homes Are Back)

There are 7.2 million more renters today than there were in 2004, and just 400,000 more homeowners, according to the U.S. Census.

Despite the recovery in home sales, the homeownership rate continues to fall, from an all-time high of 69.2 percent to 65 percent in the first quarter of 2013. As home prices rise and the employment picture improves, more people will come back to home ownership, and some of the new rental homes will inevitably be sold, but certainly not all of them.

“If you buy homes in areas with below-median income, I think the mortgage market is going to have harder time providing credit to these people, and it’s going to take longer for that to recover,” said Bloemker. “We think that these homes are more likely to be long term rentals, and those are likely to end up in the hands of institutional investors.”

—By CNBC’s Diana Olick; Follow her on Twitter @Diana_Olick or on Facebook at facebook.com/DianaOlickCNBC
—CNBC’s Stephanie Dhue contributed to this story

Questions? Comments? RealtyCheck@cnbc.com

Article source: http://www.cnbc.com/id/100700113

Nancy McCreary, manager of Hammond Residential Real Estate’s Chestnut Hill Rental Group, has announced the addition of new rental agent Allison Nieuwsma to the team. In her new position, Nieuwsma will be representing tenants and landlords from Hammond’s office at 826 Boylston St., which also serves as the company’s headquarters.

A California native, Nieuwsma moved to Brookline in 2009, and has become an avid participant in the amenities and attractions of greater Boston since then. She currently lives in Roslindale, and will soon received her bachelor’s degree in management from Hellenic College in Brookline, where she is involved in the college’s peer tutoring program and works in local schools, shelters and nursing homes as part of the “President’s Challenge.” In her free time, Nieuwsma enjoys horseback riding, yoga and volunteering.

Nieuwsma’s interest in real estate developed at an early age through her exposure to her father’s commercial brokerage business in the competitive Bay Area marketplace. She carried this interest further by working as an administrative assistant for a family-owned business which held single family, mixed-use and apartment developments in the San Francisco area.

Hammond Residential is headquartered in Chestnut Hill, and has three Boston locations and 13 suburban branch offices. To learn more, visit www.HammondRE.com.

Article source: http://www.wickedlocal.com/brookline/features/x2082700289/Brooklines-Allison-Nieuwsma-joins-Hammond-real-estate-office

Renée Frojo
Reporter- San Francisco Business Times

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While I’d rather not put a negative spin on San Francisco’s gangbusters economy, it’s hard to ignore the fact that it’s putting pressure on nonprofits to either pay up, get creative or get out.

As I wrote in this week’s paper, rising rents are pushing nonprofits out of the city and into the East Bay in search of affordable space. But what about local nonprofits that need a San Francisco address? How are they facing skyrocketing rents and landlords that refuse to renew their lease in hopes of attracting higher-paying tenants?

Well, “it’s really nuanced,” said Leiasa Beckham, a real estate consultant with the Northern California Community Loan Fund, in trying to explain the kinds of solutions that nonprofits in the city are coming up with to find more stable, affordable rent.

According to Beckham, some nonprofits with enough funds are looking into buying their own space. But because these projects are currently undergoing complex lease negotiations, she wouldn’t specify who is doing what.

Other scrappy nonprofits, she said, are looking for shared space concepts, co-locating to buildings with reasonable rents or renting spaces from other nonprofits in shared-space buildings — a model that has been used by nonprofits for some time.

But as rents continue to rise and real estate throughout the city — including the historically affordable areas of town — becomes increasingly desirable, even shared office spaces have become harder to find and develop.

“The real estate market is really prohibitive to centers expanding or replicating here,” Katie Edwards of Tide’s Nonprofit Centers Network, a peer learning community for nonprofits that share space, told me.

Renée Frojo covers hospitality, restaurants, retail and nonprofits for the San Francisco Business Times.

Article source: http://www.bizjournals.com/sanfrancisco/blog/2013/02/san-franciscos-prosperity-puts-a.html

Many economists have their predictions for how the real estate market will perform in 2013, but one thing that is certain and that will likely play a large role is that there are a lot less available homes for sale.

We’ve already seen how this has affected the Bay Area, from hundreds of hopeful buyers lining up for a lotto to buy a new construction model home to prospective buyers creating designer love letters to sellers, telling their life story and how much they want to buy their home.

Real estate site Redfin pulled some stats, showing San Francisco and San Jose starting off the first two weeks of the year with nearly 50% less homes on the market compared to same time last year. Inventory is down all over the country, but it’s particularly worse in the Bay Area.

What’s the reason behind the low inventory?

The Wall Street Journal writes a good article on this, pointing to six reasons:

1. Many homeowners are underwater, and thus can’t sell.
2. Homeowners with equity in their home don’t have enough of it to “trade up” to buy a bigger and more expensive home.
3. Everyone wants to buy at the bottom, but few want to sell when they feel their home will be worth more next year.
4. Investors – from mom and pop and corporate investors have come out and become landlords, taking property that normally would be on the market into the rental realm.
5. With the foreclosure fiasco, banks have been slower at foreclosing homes.
6. There’s been a lot less construction of new homes by home builders.

Unless inventory starts picking up, this will make for a very interesting year for Bay Area real estate.

Article source: http://blog.sfgate.com/ontheblock/2013/01/23/2013-real-estate-kicks-off-with-inventory-crisis/

“We outgrew the last space as soon as we had moved in,” said Edelheit as he weaves through a maze of desks, followed by his panting dog Frankie, to get to his office. There he shows off his stand-up computer work station that he fabricated out of a small shelf from Ikea. Many of his mostly-young employees stand as well, as they search for homes to buy, rent, market, and manage. The energy is palpable.

“In terms of risk and reward, I feel that this is a generational opportunity,” Edelheit noted.

Two similar REITs, Silver Bay Realty Trust and Altisource Residential just went public in December 2012.

Analysts at KBW estimate cash returns on investments in REOs are in the 5-7 percent range, while total returns could reach 15-20 percent. (Read More: Bank of America in $10 Billion Foreclosure Settlement With Fannie Mae)

Article source: http://www.cnbc.com/id/100366417

Back in 2008 and 2009, foreclosed homes were selling for double-digit discounts, but nowadays savings are much slimmer, especially in some California cities, according to an analysis by real estate site Zillow.

In Sacramento, buying a bank-owned property saves you less than 1 percent, and in Riverside it’s only 1.8 percent. That’s compared to a current national average of 7.7 percent, and 27.4 percent in the city with the highest discount — Pittsburgh, Pa. In San Francisco, the average discount is 4.7 percent. San Francisco’s foreclosure discount peaked at 20.4 percent in January 2008.

Here’s a look at some currently bank-owned homes in San Francisco:

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When the housing market was falling like a rock, the large discounts available for foreclosed properties led to the popularity of foreclosure bus tours, which real estate agents are still conducting in the Bay Area and elsewhere. But it hardly seems worth putting in the effort to learn about the foreclosure process for a tiny discount.

In two cities, Las Vegas and Phoenix, Zillow found that buying a foreclosure offered no price advantage at all.

“The smallest foreclosure discount is found in places where competition for homes is so high, people there are willing to pay the same amount for a foreclosure re-sale that they would for a non-distressed home simply to take advantage of historic affordability,” said Zillow Chief Economist Dr. Stan Humphries. “Additionally, in areas such as Phoenix and Las Vegas, where not long ago one out of every two homes sold was a foreclosure re-sale, buying a foreclosure is no longer just for investors.”

Carrie Kirby is a freelance writer who recently returned to the Bay Area after living for six years in Chicago. Carrie is more heavily invested in real estate than she ever expected to be, since she and her husband are now long-distance landlords of their Chicago home, and have also purchased a house in Alameda. She posts about interesting properties and real estate trends in San Francisco and Silicon Valley every Tuesday. Carrie also shares money-saving tips on her blog, Frugalistic Mom.

Article source: http://blog.sfgate.com/ontheblock/2012/11/13/foreclosure-discounts-shrinking-away/

The median price for a home in the Bay Area rose to $429,000 in September, the highest in more than four years, according to DataQuick. Let’s take a look at the median prices in San Francisco, Alameda and San Mateo counties, and what those prices can buy:

The Alameda county median is $379,000, up 8.9 percent from September 2011. Here’s a house listed at that price, at 3441 Oak Knoll Blvd in Oakland:

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In San Francisco, the median is $745,000, up 21 percent from September 2011. This California Craftsman in Westwood Park (near City College) is pending sale, and was listed just above the median at $749,000. (Of course, that doesn’t mean it sold for that — the price paid won’t be public until the sale closes.)

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The San Mateo county median is $620,000, up 12.5 percent from September 2011. Here’s a house in Pacifica that’s listed for that price:

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Carrie Kirby is a freelance writer who recently returned to the Bay Area after living for six years in Chicago. Carrie is more heavily invested in real estate than she ever expected to be, since she and her husband are now long-distance landlords of their Chicago home, and have also purchased a house in Alameda. She posts about interesting properties and real estate trends in San Francisco and Silicon Valley every Tuesday. Carrie also shares money-saving tips on her blog, Frugalistic Mom.

Article source: http://blog.sfgate.com/ontheblock/2012/10/30/what-the-new-higher-bay-area-medians-can-buy/