homesmillbrae.com » Presidio Heights http://homesmillbrae.com Thu, 20 Oct 2022 03:48:43 +0000 en hourly 1 http://wordpress.org/?v=3.1 Bay Area home values up 28 percent, luxury home prices leap 11 percent http://homesmillbrae.com/2388/bay-area-home-values-up-28-percent-luxury-home-prices-leap-11-percent/ http://homesmillbrae.com/2388/bay-area-home-values-up-28-percent-luxury-home-prices-leap-11-percent/#comments Thu, 12 Sep 2013 01:03:36 +0000 http://homesmillbrae.com/2388/bay-area-home-values-up-28-percent-luxury-home-prices-leap-11-percent/ Continue reading →]]>


37136 luxurysanfranciscohouseforsale%2A304 Bay Area home values up 28 percent, luxury home prices leap 11 percent

This home at 3800 Washington St. in the Presidio Heights neighborhood of San Francisco is on the market for $21 million. It has eight bedrooms, seven bathrooms and 17,895 square feet. Prices for homes above $1 million grew by 11 percent during the past year.



Bay Area home values up 28 percent, luxury home prices leap 11 percent







09373 Torres%2CBlanca v2 Bay Area home values up 28 percent, luxury home prices leap 11 percent
Blanca Torres
Reporter- San Francisco Business Times

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The Bay Area’s housing market continues heating up, but for how long?

Home values in the Bay Area rose by 27.8 percent during the past year to an average of $628,200 in July, according to Zillow, a real estate information site. Zillow calculates home value appreciation for all homes, not just homes that have sold or are on the market.

Click on the image for a slideshow of Bay Area homes that are on the market or have risen significantly in value.

San Francisco ranked third nationwide for home value appreciation after Sacramento with 33.1 percent growth to $274,600 and Las Vegas with 30.8 percent growth to $151,600.

Nationwide, home values crept up by 6 percent during the past year to an average $161,600 — about 25 percent of San Francisco’s average (kind of makes you want to move doesn’t it?).

“The U.S. housing market recovery has proven it is on very sound footing,” said Zillow Chief Economist Dr. Stan Humphries. “We have entered a new phase in the recovery when we can begin to turn away from ugly recent history and turn toward what the housing market of the future will look like and how it will act.”

The housing market has improved significantly, but I’m not sure the Bay Area’s performance will continue to rise at the rapid pace we’ve seen in the past couple of years.

Also, the market here is increasingly shifting toward the high-end and away from first-time and entry-level buyers.

First Republic Bank reported today that luxury home prices in the Bay Area jumped 10.9 percent during the second quarter of this year compared with 2012 to an average of $2.9 million — the highest since the fourth quarter of 2008 and approaching the all-time highs of 2007.

Blanca Torres covers East Bay real estate for the San Francisco Business Times.

Article source: http://www.bizjournals.com/sanfrancisco/blog/real-estate/2013/08/bay-area-home-values-up-28-percent.html

]]> http://homesmillbrae.com/2388/bay-area-home-values-up-28-percent-luxury-home-prices-leap-11-percent/feed/ 0 Three most expensive homes on the San Francisco MLS http://homesmillbrae.com/2319/three-most-expensive-homes-on-the-san-francisco-mls/ http://homesmillbrae.com/2319/three-most-expensive-homes-on-the-san-francisco-mls/#comments Tue, 16 Jul 2013 21:18:43 +0000 http://homesmillbrae.com/2319/three-most-expensive-homes-on-the-san-francisco-mls/ Continue reading →]]> 50259 socialBarCommentsIcon Three most expensive homes on the San Francisco MLS

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Winning the award for 3rd most pricey home on the San Francisco MLS is the Jackson Street abode you see above, nearly 9,000 square feet with 6 beds and 6.5 baths. Readers should note the home’s listing price, $17.5 million, breaks down to asking $1,984 per square foot. Not that this would scare luxury buyers in San Francisco; the home itself went pending just six days after it listed, according to Redfin property records. We don’t know yet what it will actually sell for, but we doubt it’s much less than what the sellers ask given the alacrity of the transaction.

Coming in 2nd is this palatial affair hulking over Washington St.

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This property is so big, it has two MLS listing pages, one for the main house and one for the guest house.  Neoclassical outside and over-the-top on the inside, the home offers almost 18,000 square feet, 8 beds, 7 baths, and the aforementioned guest house at an additional 2,600 square feet.  All this, plus a corner lot Presidio Heights location, set this home at an astonishing $21 million. Not so astonishing anymore, maybe, not after Yammer founder David Sacks paid $20 million for the not even finished 2845 Broadway. However, no one has rushed to snap up this one, hot luxury market or not. The home listed for $25M in May of 2012 and was reduced in March to $21M.

Coming in 1st is this home, lined up with traditional billionaire mansions on Broadway, but looking quite different from its peers.

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We can only thus far see plans for the interior and multiple floors, but the exterior rendering is remarkable, as is the view, and the price. Asking $28,950M, 2712 Broadway is officially the most expensive home listed on the SF public MLS. It offers 6 beds, 6 baths in 11,607 square feet, which calculates to $2,494 per square foot. Too pricey even for that stretch of street? Time will tell.

Buyers want, and can afford, high-end

Meanwhile, luxury properties enjoy a continued popularity in 2013. Paragon Real Estate Group shows this in a recent 2nd quarter report:

ca788 LuxHome Unit Sales by Qtr 600x451 Three most expensive homes on the San Francisco MLS

Going up! Demand for pricey homes going up, and prices with it. Courtesy Paragon Real Estate Group

 

How high is too high?

When, and at what price, will buyers balk? Or is the appetite for luxury in San Francisco insatiable?

Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert

Article source: http://blog.sfgate.com/ontheblock/2013/07/16/three-most-expensive-homes-on-the-san-francisco-mls/

]]> http://homesmillbrae.com/2319/three-most-expensive-homes-on-the-san-francisco-mls/feed/ 0 Luxury Bay Area homes selling briskly http://homesmillbrae.com/1930/luxury-bay-area-homes-selling-briskly/ http://homesmillbrae.com/1930/luxury-bay-area-homes-selling-briskly/#comments Wed, 02 Jan 2013 13:02:21 +0000 http://homesmillbrae.com/1930/luxury-bay-area-homes-selling-briskly/ Continue reading →]]> For months, Jeff Paster, a developer of luxury homes in Marin County, couldn’t find a buyer for the brand-new Belvedere waterfront mansion he listed in January for $45 million. So he put it up for auction Sunday, but then canceled it when a mystery buyer stepped forward with an undisclosed offer – somewhere north of $25 million – at the last minute.

“People at this income level,” Paster said before the auction that wasn’t, “always have money.”

That maxim proved true when it came to luxury properties in the Bay Area last year. Technology executives paying discounts on listed prices were active buyers in 2012, as the growth of social-media and Internet firms including Twitter and Yammer created a wave of millionaires.

Some older homes on the market had sat unsold for years before finding buyers, said Rick Turley, president of Coldwell Banker Residential Brokerage of Northern California. But by the final week of 2012, there were at least 13 publicly recorded transactions for more than $10 million in exclusive San Francisco neighborhoods such as Pacific Heights, Presidio Heights and Sea Cliff, according to DataQuick, a research firm.

That’s up from six sales last year and a dozen in 2007, the previous high mark. The numbers don’t include deals in expensive areas outside the city, such as Belvedere, Tiburon, Atherton or Palo Alto.

“Over a long listing period, it’s hard to say what will happen, because obviously the market is constantly changing,” Turley said. “The success of tech and social media means people are looking very generally at San Francisco and the Silicon Valley as places to live because these businesses are sourced here. It’s highest on their radar.”

Initial public offerings in 2012 by Bay Area companies raised a record $17.5 billion in public equities markets, including sales by Facebook, Yelp and Workday, according to data compiled by Bloomberg. The total is more than double the $8.3 billion reached in 1999, the height of the dot-com boom.

This year’s Bay Area IPOs generated $9.4 billion in cash for selling shareholders. Other investors have been able to generate money before initial stock sales through the rise of secondary-share markets such as SharesPost.

Yammer founder

Yammer founder David Sacks, who sold the social-media company to Microsoft in June for $1.2 billion, later bought an unfinished home in Pacific Heights that had been listed for $38.5 million. The transfer tax indicated a $20 million sale.

Sacks’ new residence, built in the style of a French chateau, was last purchased by Peter Sperling, incoming chairman of Apollo Group Inc., who paid $32 million in 2002, said David Barrett of listing brokerage Warwick Properties Group.

“It’s built to be the finest residence in San Francisco, from limestone quarried in France and with the same glaziers who worked on the Eiffel Tower renovation,” Barrett said.

In December, Jay Paul, the San Francisco developer of 6 million square feet of Silicon Valley offices, including Google’s four-building complex in Sunnyvale, completed a purchase in the same neighborhood, said a person with knowledge of the transaction. The house sold for $28.25 million, said Dona Crowder of TRI Coldwell Banker, a co-listing broker on the home. She declined to comment on the buyer.

Seller deals

The deal was at a 48 percent discount from the asking price in 2007, around the time U.S. housing prices peaked. The seller had most recently sought $34 million, Crowder said.

Paul didn’t return a telephone message seeking comment.

In some cases, luxury discounts this past year in San Francisco and the Silicon Valley are a reflection of aged homes built decades ago that needed extensive renovations, Crowder said. Sellers were also motivated by the prospect of higher capital gains taxes in 2013, she said. Her listing on Broadway in Pacific Heights received higher bids in the past, including one earlier in 2012, which were rejected by the seller, she said.

“The generations are turning over in this neighborhood,” Crowder said in a phone interview. “If it were understood back then that record prices were being offered, it would have been wise to sell” in 2007.

Dorsey, Benioff

Jack Dorsey, a Twitter co-founder, paid $9.9 million in February for a “humble” two-bedroom house in Sea Cliff that had been listed for $12.5 million, said Olivia Hsu Decker, owner of Tiburon’s Decker Bullock Sotheby’s International Realty and Dorsey’s agent on the deal. Salesforce.com CEO Marc Benioff bought a nearby house in 2009, Decker said.

The Sea Cliff neighborhood is named for its location high above the Pacific Ocean, just west of the Golden Gate. In May, Dorsey, who is known to take public buses to work, tweeted a quote from the Chilean poet Pablo Neruda, “I need the sea because it teaches me,” Decker said.

Other multimillion-dollar home buyers of 2012 included Mark Pincus, founder of online game maker Zynga. He purchased a Pacific Heights house in July for $16 million after a $500,000 price cut, said Decker, who represented him in the past and also was the listing agent for the Belvedere home.

Rising prices

The region’s broader housing market is also showing strong demand, bolstered by the addition of 32,400 new jobs in the San Francisco metropolitan area in the year through November. House and condominium prices in the nine-county Bay Area in November rose almost 21 percent from a year earlier to a median $438,000, the highest since August 2008, according to DataQuick of San Diego. Sales jumped almost 16 percent.

Dan Levy is a Bloomberg writer. E-mail: dlevy13@bloomberg.net

Article source: http://www.sfgate.com/realestate/article/Luxury-Bay-Area-homes-selling-briskly-4160241.php

]]> http://homesmillbrae.com/1930/luxury-bay-area-homes-selling-briskly/feed/ 0 San Francisco Home Sales Office, Climb Real Estate Group Announces their 2011 … http://homesmillbrae.com/1194/san-francisco-home-sales-office-climb-real-estate-group-announces-their-2011/ http://homesmillbrae.com/1194/san-francisco-home-sales-office-climb-real-estate-group-announces-their-2011/#comments Fri, 06 Jan 2012 10:48:48 +0000 http://homesmillbrae.com/1194/san-francisco-home-sales-office-climb-real-estate-group-announces-their-2011/ Continue reading →]]> After a successful 2011, Climb Real Estate Group is thankful for their talented group of real estate agents and is proud to announce the top producing agents of last year.

San Francisco, CA (PRWEB) January 06, 2012

Climb Real Estate Group, a San Francisco home sales office, one of the leading independent real estate brokerages, knows that, as a company, they can only go as far as their talented real estate agents can take them. Many of their agents performed very well in 2011 and, as 2012 dawns, they wanted to announce the top producing real estate agents for Climb Real Estate Group over the previous 12 months.

The honor of #1 Companywide Top Producer for 2011 is Mark Choey. During his time with the company, Choey has been a consistent top producer and his stellar effort over the past year earned him the top honor. He had impressive sales at The Infinity, Millennium Towers, and Madrone.

Sales Director Marcus Lee also had a great year and finished as the #2 Companywide Top Producer with Dirk Kinley rounding out the top three for the Companywide Top Producers. Both Marcus and Dirk Kinley provided an impressive roster of city-wide sales in from a diversity of locations including Soma, South Beach and Mission Bay to Forest Hills and Presidio Heights.

Climb Real Estate Group also wishes to recognize the other leading sales producers of 2011, including Kristen Stuecher, Brian Anderson, Gertrude Villanueva, Kevin Gueco, Joshua Lawrence, Matt Finley, Tiffany Combs, and Jessie Lee.

“The market had many complexities and uncertainties in 2011, yet our agents displayed incredible dedication and tenacity and achieved success,” said Tiffany Combs, Managing Broker of Climb Real Estate. “Because of their hard work, integrity and commitment to service, Climb Real Estate Group continues to rank as the number one Soma/South Beach real estate general brokerage.”

With 2011 in the books, Climb Real Estate Group is looking forward to 2012 where many forecasts point to a healthier real estate market. For buyers, sellers and investors in the San Francisco area looking for the real estate opportunities including new home sales, luxury properties, new construction, and bank foreclosures, and short sale opportunities, look to Climb Real Estate Group.

For more information on Climb Real Estate Group, call 415-431-8888 or visit them online at www.climbsf.com. Climb Real Estate Group is located in San Francisco’s Design District at 251 Rhode Island #105 in San Francisco.

About Climb Real Estate Group

Climb Real Estate Group is a San Francisco-based real estate company specializing on luxury homes and property sales. They focus on urban-style properties, specializing on new construction, historic loft conversions, live/work spaces, Victorian flats, modern condominiums, and stylish single-family home sales.

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For the original version on PRWeb visit: www.prweb.com/releases/prwebluxury-homes/san-francisco/prweb9083409.htm

Article source: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/01/06/prweb9083409.DTL

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