First Republic Bank’s Prestige Home Index indicates luxury homes in San Francisco had a strong finish to 2013. But some suggest that California’s high-end housing market is starting to see a slowdown.

Mark Calvey
Senior Reporter- San Francisco Business Times

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The Bay Area’s luxury home market is signaling a slowdown ahead even as prices late last year were still showing year-over-year double-digit increases.

First Republic Bank’s Home Prestige Index released Monday found that luxury home prices in the Bay Area and other key California markets are near records amid tight supplies of homes selling for $1 million and often more.

But it’s the commentary from real estate agents that set off alarms for careful followers of the luxury housing market. The commentary follows recent economic reports pointing to a national housing slowdown, which some blame on the extremely cold weather. The National Association of Realtors said last week that January existing home sales fell more than 5 percent nationally, the worst showing in 18 months. But if bad weather is to blame, some ask why were sales down 7.3 percent in the warm and sunny West?

In discussing First Republic’s latest quarterly figures released Monday, real estate agents in California’s luxury housing market are using telltale language of trouble ahead, with such phrases as “supply is plentiful” and the “market is solid,” while others see “buyer resistance” and “expect the market to level off.”

That type of talk could put a further chill on the housing market and prompt more home owners to put their properties on the market before prices fall.

Real estate agents say that pricing and demand for the limited supply of homes on the market is approaching levels last seen just before the housing market began to crater in 2007.

Earlier this month, Christopher Stafford and Terry Wright, both of Paragon Real Estate Group in San Francisco, sent an email to clients alerting them to “shifts in the San Francisco real estate market.”

“It is far too early in the year to reach definitive conclusions regarding substantive changes in the market, but there are indications of a number of shifts,” the Paragon agents said. “From the hurly burly on the street, the word is that the quantity of offers coming in on new listings is declining. Where a new listing might have attracted 10 or 12 offers last spring, three or four are coming in now; where three or four offers would have arrived, the seller is getting one.”

For those who don’t fully appreciate what the decline in offers mean, the Paragon brokers put it bluntly, “The amount of competition deeply affects home-price increases.”

“And, according to Broker Metrics, for every two listings that accepted offers in December and January, another listing expired or was withdrawn without selling.”

The Paragon agents see plenty of potential buyers checking out online listings and open houses, but more of them are first-time buyers who are “proceeding more cautiously.” Plus that group doesn’t come in with the buying power of home equity built up over the years.

“Though the market remains hot by any reasonable standard, by some statistical measure it is cooling,” the Paragon agents advised clients. “This may reflect a transition or only a lull before the spring sales season begins.”

On Monday Stafford echoed a frequently heard lament in Bay Area real estate circles, “There is no inventory.”

“It seems some of the heat has been taken off the market,” Stafford told me, adding that he views any references to the market “cooling” as overstating the case.

Those hoping that the Bay Area’s luxury housing market gets a big lift this spring might be disappointed as the affluent experience what Marcum’s accountants call “tax shock” as their higher 2013 tax bills must be paid. This segment of the market is also greatly affected by stock market performance, given how much wealth is created in the Bay Area through stock options and initial public offerings. The IPO market also helps set prices paid by acquirers of private companies. The tie between stocks and luxury housing is so strong that one real estate agent, when asked for his outlook on the region’s luxury home market, said, “You’re asking me to predict what the stock market will do.”

The traditionally strong spring housing market may see even more inventory come to market if home owners decide that they’ll get better prices by selling sooner than later.

On Monday, First Republic’s closely watched survey of luxury home values clocked in strong gains from a year ago, but more modest gains from the third quarter, especially when looking at the third quarter’s gain over the second quarter of 2013.

In the Bay Area, luxury home values in last year’s fourth quarter rose 12.4 percent from the fourth quarter of 2012 and 1.8 percent from the third quarter of 2013. That was just below the third quarter’s gain of 1.9 percent from the second quarter of 2013.

In Los Angeles, the fourth quarter’s luxury home values rose 13.7 percent from from a year ago and 1.3 percent from the third quarter. The quarter-over-quarter gain was down sharply from a 6.7 percent gain seen in the third quarter from the second quarter.

In San Diego, luxury home values rose 16.6 percent year-over-year and 1.3 percent from the third quarter of 2013. Again, that represented dramatic slowdown in price gains from the third quarter’s 6 percent increase from the second quarter.

San Francisco-based First Republic Bank produces the quarterly Prestige Home Index with Core-Logic Case-Shiller, a provider of automated property valuation services to the financial services industry. First Republic has tracked luxury homes since the bank’s founding in 1985.

The fourth quarter figures and analysis may provide a snapshot of rising luxury home values as the market was turning down.

“Luxury home prices again posted double-digit gains on a year-over-year basis,” said Katherine August-deWilde, president and chief operating officer of First Republic Bank. (NYSE: FRC) “Market conditions in California’s luxury communities continue to be very strong. Limited inventory, robust demand and low interest rates are driving prices higher.”

In Marin County, higher-priced homes saw gains.

“Going into the end of the year, homes $4 million and above finally picked up,” said Pat Montag of Sotheby’s International Realty in Mill Valley. “Prices are getting close to the peak of the market in 2007. We have very little inventory and that’s constraining the market.”

San Francisco also participated in the strong housing market last year.

“Prices continue to rise because there is so little inventory and so much demand,” said Mary Lou Castellanos of Sotheby’s International in San Francisco. “There are a lot of people who want to buy. The homes that do come to market generate multiple offers and offers over the asking.”

And new tech wealth is spurring luxury home buying on the Peninsula.

“From Palo Alto to Atherton, we are seeing offers 20 percent to 40 percent over the asking price,” said Pat Kalish of Alain Pinel Real Estate in Palo Alto. “It’s tech money as well as foreign buyers. From all indications, prices will keep increasing because the inventory is so low. If you’re a homeowner, this is one of the best times ever to sell.”

Hope springs eternal among those selling real estate.

Southern California also enjoyed a strong market as the stock market clocked in with one of its best years ever in 2013.

“The demand is incredible. It is much stronger than it was in 2006 at the height of the market. Homes that were selling at $10 million in 2005 and 2006 are now $20 million and $25 million. It’s astounding,” said David Mossler of Tele Properties in Beverly Hills.

Further south in Orange County Ron Miller of HOM Sotheby’s in Newport Beach told First Republic Bank that homes at $4 million are selling above year-earlier comps.

“The attractive properties are generating multiple offers,” Miller said. “I see some buyer resistance now and expect the market to level off.”

Even further south in the San Diego area, more signs of a cooling market are evident.

“We’re seeing multiple offers and offers over the asking for properly priced homes up to $3 million,” said Linda Sansone of Willis Allen in Rancho Santa Fe. “From $3 million to $5 million, the market is solid, prices are appreciating and supply is tight. For homes $5 million and above, there is plenty of supply, and prices are rising modestly.”

Sue De Legge of Sue De Legge Associates, also in Rancho Santa Fe, said home-price appreciation was driving the market.

“Rising prices are motivating more sellers to list their homes,” she said. “We expect more inventory to be brought to market in coming months.”

And as a reminder for those who missed Econ 101, rising supply is likely to put downward pressure on prices. One thing is certain: this spring’s home-selling season will be well worth watching.

Mark Calvey covers banking and finance for the San Francisco Business Times.

Article source: http://www.bizjournals.com/sanfrancisco/blog/2014/02/home-prices-san-francisco-real-estate.html?page=all

Paragon Real Estate Group® first brokerage in San Francisco to provide Clarus touchCMA™ to its REALTORS®

Paragon has always been a company that is light on its feet, highly responsive to new ideas and opportunities, and now the time has come to take big steps in virtually every facet of our business to take us to the next level – Paragon CEO Bob Dadurka.

San Francisco, CA (PRWEB) September 26, 2013

“Since we opened our doors in 2004, we’ve been gratified by being able to build Paragon into one of the most successful brokerages in San Francisco. 2013 is shaping up to be our best year ever – with total sales up 20 percent and luxury home sales up a whopping 82 percent, we should go well beyond a billion dollars in sales – and our agents now have one of the highest averages sales per agent figures in the country. San Francisco has always been a very competitive market, the price point is very high and our clients are extremely sophisticated financially and technologically and in what they expect from the professionals who serve their needs. Paragon has always been a company that is light on its feet, highly responsive to new ideas and opportunities, and now the time has come to take big steps in virtually every facet of our business to take us to the next level,” Paragon CEO Bob Dadurka.

These steps include spinning off their investment real estate division, already one of the biggest players in that market segment, into the separate Paragon Commercial Brokerage in beautiful new offices at 1700 California. Another big piece of the plan is the centralization of Paragon’s residential brokerage operations in the 4-story building they purchased and completely renovated at 1400 Van Ness. This will then be followed by the opening of new, mobile-oriented, hub offices in other areas of the city such as the luxury home market of Pacific Heights-Marina, Potrero Hill, South Beach-SoMa and the Hayes Valley-Noe Valley area. Paragon is also actively growing the number of agents working in Marin, Napa and Sonoma, where their business is growing quickly. According to Paragon Managing Broker, Sally Stull, “The way people do business is rapidly changing and the way our agents serve our clients is changing. Big old-style offices with desks and phones are much less important; cutting edge technology that improves client communications, property marketing and the delivery of highest quality market analytics is what helps our clients most and what they want. So we are moving resources from an older business model to this more dynamic and more mobile model. We are extremely excited about the large investments we’re making in improved technology and more streamlined operations right now. This will be a huge win-win for Paragon and for our customers.”

Paragon has been investing particularly heavily in new marketing technologies. Paragon’s Director of Brand and Digital Marketing Lisa M. Norman highlighted a few of the biggest initiatives: “Marketing is one of the core products a real estate brokerage offers its clients and Paragon has always invested heavily in stand-out marketing across the multiple media platforms. But now we’re taking a quantum leap in digital and mobile marketing. Both our website and new online resource, ParaScopeSF, offer comprehensive information about living in the Bay Area and its complex real estate market. We’re the first brokerage in San Francisco to offer touchCMA, a highly sophisticated iPad-based presentation and market analysis tool, to all our agents and clients. Paragon has moved to a new, mobile marketing platform, Imprev, that allows marketing staff and agents to create incredible materials from wherever they are in less time than ever. As our footprint in the luxury home market grows by leaps and bounds, we are designing new programs and developing new partnerships to meet the special needs of that market segment. And finally, within the realm of traditional marketing, Paragon is redesigning and upgrading all its print marketing materials to a standard currently unmatched in San Francisco real estate sales.”

About the Company:

Paragon’s main residential office is at 1400 Van Ness Avenue in San Francisco and its Commercial Brokerage at 1700 California Street. Paragon can be found online at paragon-re.com and ParaScopeSF.com.

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Article source: http://www.prweb.com/releases/real-estate/San-Francisco/prweb11166036.htm

After 20 years in San Francisco, John Perry and Rob Picciotto, along with their children, Ben and Louisa, and three dogs, transplanted themselves to Oakland. “I didn’t think we would ever leave San Francisco, but a convergence of things made us consider moving,” said Perry.

In 1998, Perry and Picciotto had stretched to buy their Bernal Heights house and make it work as their family grew. In June it sold for more than triple what they’d paid, a windfall that allowed them to pay cash for a less expensive house in Oakland’s Leona Heights neighborhood in the hills above Mills College.

“We don’t have a mortgage anymore, which is awesome,” Perry said. “We doubled our square footage on more than an acre of land, and have phenomenal neighbors. Oakland is so diverse; it’s a whole new world to learn and explore. There’s more space, more mix.”

For a growing number of San Francisco residents, the math is compelling. Their houses now are worth more than ever. Meanwhile, although homes in the East Bay have had big price run-ups over the past year, they had fallen further during the downturn – meaning they’re still shy of their peaks.

“San Francisco is on the leading edge of the appreciation curve and other places are a step behind,” said Patrick Carlisle, chief market analyst with Paragon Real Estate Group in San Francisco. “The majority of our San Francisco neighborhoods now have met or exceeded their previous peak values reached in 2007 or 2008.”

Huge price differential

The result is that the price differential between San Francisco and other Bay Area counties, especially the East Bay, is greater now than ever, he said. Silicon Valley’s price appreciation has been strong enough that moving there from the city is more of a lateral move.

For David and Tamra Biener, the rising real estate market meant they could finally trade their cramped Dolores Street condo for a bigger place in the East Bay. With children soon to turn 6 and 8, their family outgrew the two-bedroom condo a couple of years ago – they’d converted the dining room to a third bedroom to make do – but were stuck because they were underwater.

“Our kids running up and down the hallway sounded like a herd of elephants to the people above and below,” he said. “We wanted to move in 2011, but at that time the condo was worth maybe $50,000 less than I’d bought it for. I was thinking, it’s another $50,000 in (real estate) commissions, so it will cost us $100,000 to get out of the condo. We can’t do that because we have to come up with 20 percent down on the new house. It’s supposed to work the other way.”

Way over asking price

But now the tide has turned.

“The crazy thing is that two years go by, we list our house for $50,000 more than I paid and get another $125,000 over listing,” he said.

Listed at $875,000, the house went for just a tad over $1 million. As soon as they were in contract, the Bieners made an offer on a five-bedroom Walnut Creek house with lots of room for the kids. It was listed at $1.285 million; their offer was just $15,000 over asking.

“There are two things going on that favor moving from the city to outside the city,” he said. “The prices have gone up way faster in San Francisco than they have outside of it. And the demand is so much higher in the city that you get that extra 10 or 20 percent over listing.”

Agents around the region said they’re seeing a definite increase in San Francisco out-migration.

“There was a time when you could be a move-up buyer in San Francisco, taking the equity out of your home or condo and buying a bigger one in the city, but that’s not the story anymore,” said Steve Dells, an agent for 25 years with Zephyr Real Estate in San Francisco. “The values in San Francisco have escalated so quickly and so much that whatever a move-up buyer can afford likely won’t be enough space to accommodate their reason for moving.”

Ashley Langworthy and Peter Gleason would have liked to be move-up San Francisco buyers, but the financials didn’t pencil out. With twins on the way, the couple needed more space than their one-bedroom Hayes Valley tenancy in common.

‘Cold foggy areas’

“The places in San Francisco where we could afford more space were in cold foggy areas near the edge of Daly City,” said Langworthy, a landscape designer. “We would have stayed in San Francisco if we could have been in neighborhoods we liked.”

Instead, they looked in the East Bay. However, the competition over there meant they got outbid 10 times and ended up paying above asking for a two-bedroom Berkeley house.

Their Hayes Valley TIC went for almost $100,000 more than the $450,000 they paid for it in 2008, not a windfall but enough to help them get a foothold in a stand-alone house in the East Bay. “I think the East Bay is a little more affordable than San Francisco, but it’s still very competitive,” Langworthy said.

Christine Englund and Dean Charlton migrated from the city to the East Bay because she got a dream job in San Ramon.

“Our house in West Portal is in one of the foggiest neighborhoods in town; 2 miles up from the ocean, you’re totally socked in for the summer,” Englund said. “It’s a two-bedroom one-bathroom, with a little yard, just 1,500 square feet.”

Listed at $799,000, the house got 12 offers and sold in late May for $1.025 million. “We hit just the right time,” Englund said. “Interest rates were still a bit lower than now and inventory was so tight in San Francisco.”

Their East Bay house, located in upscale Piedmont, was cheaper at $905,000 but at least 50 percent larger, with a third bedroom, second bathroom, bigger yard, deck and even a wine cellar.

“We got so much more space for the money, and then the weather, the people, the restaurants, everything we value were also great,” she said.

Fewer school-age kids in S.F.

While the current exodus is too new to have official statistics, longer-range census data underscore San Francisco’s ongoing family drain. San Francisco has about 8,000 fewer school-age youngsters in 2010 than in 2000. Of the city’s 805,235 residents, just 13.4 percent are younger than 18 – a smaller percentage than any other major U.S. city, including the Manhattan section of New York City, where 15 percent of the population is under 18. In San Jose, 24.8 percent of the residents are children; in Oakland, it’s 21.3 percent.

What will it mean to San Francisco if families continue to flee?

Perry, the 20-year resident who recently moved out with his partner and their children, has some sanguine thoughts.

“San Francisco renews itself on a regular basis,” he said. “A lot of cities don’t sustain the same populations through all the stages of (the residents’) lives. There may be different cities for different times in our life.”

Carolyn Said is a San Francisco Chronicle staff writer. E-mail: csaid@sfchronicle.com Twitter: @csaid

Article source: http://www.sfgate.com/realestate/article/Families-flee-S-F-for-East-Bay-with-cheaper-homes-4796027.php

After 20 years in San Francisco, John Perry and Rob Picciotto, along with their children, Ben and Louisa, and three dogs, transplanted themselves to Oakland. “I didn’t think we would ever leave San Francisco, but a convergence of things made us consider moving,” said Perry.

In 1998, Perry and Picciotto had stretched to buy their Bernal Heights house and make it work as their family grew. In June it sold for more than triple what they’d paid, a windfall that allowed them to pay cash for a less expensive house in Oakland’s Leona Heights neighborhood in the hills above Mills College.

“We don’t have a mortgage anymore, which is awesome,” Perry said. “We doubled our square footage on more than an acre of land, and have phenomenal neighbors. Oakland is so diverse; it’s a whole new world to learn and explore. There’s more space, more mix.”

For a growing number of San Francisco residents, the math is compelling. Their houses now are worth more than ever. Meanwhile, although homes in the East Bay have had big price run-ups over the past year, they had fallen further during the downturn – meaning they’re still shy of their peaks.

“San Francisco is on the leading edge of the appreciation curve and other places are a step behind,” said Patrick Carlisle, chief market analyst with Paragon Real Estate Group in San Francisco. “The majority of our San Francisco neighborhoods now have met or exceeded their previous peak values reached in 2007 or 2008.”

Huge price differential

The result is that the price differential between San Francisco and other Bay Area counties, especially the East Bay, is greater now than ever, he said. Silicon Valley’s price appreciation has been strong enough that moving there from the city is more of a lateral move.

For David and Tamra Biener, the rising real estate market meant they could finally trade their cramped Dolores Street condo for a bigger place in the East Bay. With children soon to turn 6 and 8, their family outgrew the two-bedroom condo a couple of years ago – they’d converted the dining room to a third bedroom to make do – but were stuck because they were underwater.

“Our kids running up and down the hallway sounded like a herd of elephants to the people above and below,” he said. “We wanted to move in 2011, but at that time the condo was worth maybe $50,000 less than I’d bought it for. I was thinking, it’s another $50,000 in (real estate) commissions, so it will cost us $100,000 to get out of the condo. We can’t do that because we have to come up with 20 percent down on the new house. It’s supposed to work the other way.”

Way over asking price

But now the tide has turned.

“The crazy thing is that two years go by, we list our house for $50,000 more than I paid and get another $125,000 over listing,” he said.

Listed at $875,000, the house went for just a tad over $1 million. As soon as they were in contract, the Bieners made an offer on a five-bedroom Walnut Creek house with lots of room for the kids. It was listed at $1.285 million; their offer was just $15,000 over asking.

“There are two things going on that favor moving from the city to outside the city,” he said. “The prices have gone up way faster in San Francisco than they have outside of it. And the demand is so much higher in the city that you get that extra 10 or 20 percent over listing.”

Agents around the region said they’re seeing a definite increase in San Francisco out-migration.

“There was a time when you could be a move-up buyer in San Francisco, taking the equity out of your home or condo and buying a bigger one in the city, but that’s not the story anymore,” said Steve Dells, an agent for 25 years with Zephyr Real Estate in San Francisco. “The values in San Francisco have escalated so quickly and so much that whatever a move-up buyer can afford likely won’t be enough space to accommodate their reason for moving.”

Ashley Langworthy and Peter Gleason would have liked to be move-up San Francisco buyers, but the financials didn’t pencil out. With twins on the way, the couple needed more space than their one-bedroom Hayes Valley tenancy in common.

‘Cold foggy areas’

“The places in San Francisco where we could afford more space were in cold foggy areas near the edge of Daly City,” said Langworthy, a landscape designer. “We would have stayed in San Francisco if we could have been in neighborhoods we liked.”

Instead, they looked in the East Bay. However, the competition over there meant they got outbid 10 times and ended up paying above asking for a two-bedroom Berkeley house.

Their Hayes Valley TIC went for almost $100,000 more than the $450,000 they paid for it in 2008, not a windfall but enough to help them get a foothold in a stand-alone house in the East Bay. “I think the East Bay is a little more affordable than San Francisco, but it’s still very competitive,” Langworthy said.

Christine Englund and Dean Charlton migrated from the city to the East Bay because she got a dream job in San Ramon.

“Our house in West Portal is in one of the foggiest neighborhoods in town; 2 miles up from the ocean, you’re totally socked in for the summer,” Englund said. “It’s a two-bedroom one-bathroom, with a little yard, just 1,500 square feet.”

Listed at $799,000, the house got 12 offers and sold in late May for $1.025 million. “We hit just the right time,” Englund said. “Interest rates were still a bit lower than now and inventory was so tight in San Francisco.”

Their East Bay house, located in upscale Piedmont, was cheaper at $905,000 but at least 50 percent larger, with a third bedroom, second bathroom, bigger yard, deck and even a wine cellar.

“We got so much more space for the money, and then the weather, the people, the restaurants, everything we value were also great,” she said.

Fewer school-age kids in S.F.

While the current exodus is too new to have official statistics, longer-range census data underscore San Francisco’s ongoing family drain. San Francisco has about 8,000 fewer school-age youngsters in 2010 than in 2000. Of the city’s 805,235 residents, just 13.4 percent are younger than 18 – a smaller percentage than any other major U.S. city, including the Manhattan section of New York City, where 15 percent of the population is under 18. In San Jose, 24.8 percent of the residents are children; in Oakland, it’s 21.3 percent.

What will it mean to San Francisco if families continue to flee?

Perry, the 20-year resident who recently moved out with his partner and their children, has some sanguine thoughts.

“San Francisco renews itself on a regular basis,” he said. “A lot of cities don’t sustain the same populations through all the stages of (the residents’) lives. There may be different cities for different times in our life.”

Carolyn Said is a San Francisco Chronicle staff writer. E-mail: csaid@sfchronicle.com Twitter: @csaid

Article source: http://www.sfgate.com/realestate/article/Families-flee-S-F-for-East-Bay-with-cheaper-homes-4796027.php

(PRWEB) July 25, 2013

Sean Sullivan San Francisco Real Estate New Construction and Senior Sales Leader with Climb Real Estate Group in San Francisco who was recently featured in a KRON4 news report, comments on the California Association of Realtors® (CAR) June Home Sales and Price Report(1) which shows a decline in units sold, as prices continue to trend upward statewide. Sullivan notes the California Association of Realtors® (CAR) June Home Sales and Price Report which shows a decline in units sold, while prices continue to trend upward statewide. The CAR report states that as prices continued to increase statewide in June with double-digit gains over June 2012, the number of units sold was down 3.8 percent from May, and down 3.7 percent from June 2012. The statewide median price of an existing, single-family detached home rose 2.7 percent from May’s revised median price of $417,350 to $428,510 in June. June’s price was up from 33.5 percent over June 2012. “The June decline in home sales was attributed partially to the hike in interest rates in recent months.  The average 30-year fixed rate had been stabilizing at around 3.5 percent since the beginning of the year, until it jumped more than 50 basis points in June to reach above the 4 percent mark for the first time in more than a year and a half,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.  “This rate increase portends a somewhat higher rate environment going forward as the Fed mulls over the start of its tapering off program in response to positive signs from the economy.”  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 says it is important to realize that the San Francisco Bay Area bucked the statewide trend in that housing prices in June decreased very slightly by 1.1 percent over May, but still showed an increase of 23.3 percent over June 2012. The median sold price in June was $712,030, while in May it was $719,610 and in June 2012 it was $577,640. San Mateo County showed a 5.4 percent increase over May prices, and San Francisco County showed a 9.7 percent decrease. The month-to-month median price change from April to May 2013 was 5 percent. Alameda County shows a 2 percent decline in prices in June over May, but 29.7 percent increase from June 2012. 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 windows in most homes.  With the historic Art Deco San Francisco Mint and a new Whole Foods as neighbors, Linea graces an already remarkable location.  Transit and the neighborhoods of Hayes Valley, Upper Market and Mid-Market are at your fingertips. Developer  represented by Polaris Pacific.

The San Francisco Bay Area was the only region in the state which showed a month-to-month decline in median housing prices. This fact can be seen as a positive sign because it should ease concerns of a housing bubble in the Bay Area. The median time on the market for the Bay Area in June shows a slight increase over May, at 34.1 and 31.4 days respectively. Sean Sullivan specializes in San Francisco Real Estate new construction and more information about other new properties can be found on his website. The Century, a chevron shaped condominium building will open for sales late this summer.  The five story structure has 1 and 2 bedroom floor plans at the crossroads of Duboce Triangle and Upper Market. The Penthouses feature commanding views and large private terraces. The neighborhood is an urban dwellers dream with parks, transit, bars, restaurants and stylish retail just downstairs. Developer represented for sale by Vanguard Properties’ Jean-Paul Samaha and Ed Deleski.

About Sean Sullivan San Francisco Real Estate Agent

Sean Sullivan serves as Climb Real Estate Group’s Senior Sales Leader. With more than fifteen years in the real estate industry, Sullivan has sold over $600 million in residential real estate and built a reputation for customer-focused sales leadership in San Francisco.  Sullivan has extensive experience in a variety of real estate transactions, both on the buyer’s and on the seller’s sides, and collaborates with attorneys, brokers, and the real estate community at large. His relationships with sellers, buyers and developers allows him to leverage market knowledge and experience in negotiating and surmounting challenges.  As a Top Producer in 2010, 2011, and 2012, his reputation is built on putting clients first by being responsive, consultative, collaborative, ethical and honest. 

 

“Community is important to me,” said Sullivan. He is a member of San Francisco Association of Realtors, California Association of Realtors and National Association of Realtors and active in SPUR (San Francisco Planning and Urban Research Association), SF SAFE, The National Trust for Historic Preservation, Jewish Vocational Services, SF Bicycle Coalition and Panhandle Park Stewards. 

Television, radio, print and electronic media often reach out for Sullivan’s take on the local and national real estate market. He has appeared on television numerous times, been featured on the front page of The San Francisco Chronicle and featured on The Today Show, Fox News Business, The Daily Mail UK and LA Times. In 2012 I received the great honor of The Armed Forces Civilian Service Medal.

Originally a Connecticut Yankee, he has lived in San Francisco for 16 years.  His interests include family, urban planning, yoga, surfing, and gardening.  He has also been fortunate to travel to over 30 countries. He currently resides in the Upper Haight. Sean Sullivan can be contacted at 415-215-0554, Sean(at)climbsf(dot)com. Please visit his website at: http://sfresource.com.

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://www.car.org/newsstand/newsreleases/2013releases/june2013sales

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Article source: http://www.prweb.com/releases/2013/7/prweb10954088.htm

San Francisco, CA (PRWEB) June 21, 2013

Climb Real Estate Group, the tech-powered Bay Area real estate residential brokerage, has launched a new alternative to map-based property search with the development of Climb Explore. In partnership with Pitch Interactive, Climb Explore has reinvented real estate search, not in a traditional map-based format, but by looking at search in a more graphic and visual manner. Climb Explore gets up-to-the-minute data directly from the same sources used by real estate agents and publishes homes using data visualization tools. This groundbreaking format is intended to serve a broad audience of buyers and sellers, professionals, and members of the general public interested in San Francisco and Bay Area real estate.

The new home search site features all available San Francisco-based properties including 89 different neighborhoods, all property classes including condominiums, TICs (Tenancy-in-Common), co-ops, 2-4 unit buildings, 5+ unit buildings, land, and commercial properties. Additional search criteria such as price, bedroom count, bathroom count, and parking will alter data in real time. Making the site real-time was paramount in the design of Climb Explore; when a user changes a search parameter, the search results instantly appear, providing the fast response time necessary for today’s consumers. Additionally, the level of interactivity of Climb Explore creates a more productive and richer experience.

“Our online visitors will now experience a more vibrant and seamless view of San Francisco real estate,” said Michelle Balog, Managing Sales Director for Climb Real Estate Group. “This valuable new tool represents a unique way for buyers and sellers in San Francisco to search for homes.”

The Climb Real Estate Group team, led by Technology Director Mark Choey, has been developing the new design over the past year, working with their internal staff and marketing to support the multifaceted mission of the company’s founding principle to reinvent residential real estate. Having created SFNewDevelopments.com, one of Climb’s flagship websites years before, Choey had been looking to take on real estate search for quite some time. However, he was looking to do something different. He says, “When looking at the state-of-the-art in real estate search websites, almost all sites start off with a big map of the area you are searching. Starting with a map to search real estate definitely has some benefits, but we also find this sort of user experience can be limiting. We wanted to approach the problem from a different angle.” After researching different opportunities, Choey was very impressed with the development team at Pitch Interactive, who are well known for creating interactive visualizations to illustrate complex data for technology clients. “I also really liked the fact that they had no experience in real estate. From that perspective, they brought in a crucial, unbiased viewpoint.”

“We wanted to take on the project because it was something new and challenging for us compared to the work we typically take on. Our first response when approached for this project was that we don’t do real estate. There are several real estate services that do a great job,” said Wesley Grubb of Pitch Interactive in a statement. “But after understanding Climb and the challenges of getting the best possible properties to clients, we wanted to take this on. Also, we really like the culture at Climb and felt that Climb fits well with our philosophy. Namely, the willingness to try something new and find a unique way to do something exploratory.”

With Climb Explore, consumers are offered a more engaging way to explore property through data visualization, which highlights target properties while giving access to other listings based within the same proximity of the search criteria. Grubb said, “The problem with current systems is that the search is limited and funneled. You get a limited list of properties based on what you search for. You rarely get to see the big picture or how related properties may look when you select multiple criteria.” This did not come easily. Through a complex algorithm, Pitch Interactive sought to provide enough information without overwhelming the user. Grubb said, “The most challenging aspect for us was searching for an explorative way to represent the data without overwhelming the visitor and without showing too few data points. “

The partnership is a result of Climb’s ongoing research and development efforts, many of which are focused on building new mobile and web-based experiences. The launch of the Climb Explore is an example of how Climb Real Estate Group plans to innovate the traditional real estate brokerage model — whether opening new office spaces in mobile Airstreams or developing essential digital properties — in new ways on both emerging and existing platforms.

“Climb Real Estate Group always strives to be on the leading edge of innovation — it is at the core of our company,” said Climb’s Marketing Director Chris Lim in announcing the successful release of Climb Explore. “We are working to engage home buyers everywhere in the Bay Area, now and in the future. Climb Explore encourages us to think about home search in a new way.”

For more information, visit http://explore.climbsf.com

About Climb Real Estate Group:

Climb Real Estate Group is a full-service general real estate brokerage with an emphasis on the purchase, sale, rental and marketing of select residential new developments, commercial and premier resale properties. They specialize in condos, high rises, lofts and homes in South Beach, SOMA, South Beach, Mission Bay, Rincon Hill, Potrero Hill and Central Waterfront. Our focus is on urban-style properties, specializing in new construction, historic loft conversions, live/work spaces, Victorian flats, modern condominiums, and stylish single-family homes. They also have exclusive access to off-market listings, foreclosures and developer specials.

About Pitch Interactive:

Wesley Grubbs is an artist, data visualizer and provocateur based in Berkeley, CA. In 2007 he founded Pitch Interactive, a studio whose focus is weaving code with design with statistics to find versatile solutions to communicate complex data for clients including Google, Wired, GE, Esquire, Scientific American, Popular Science and the

McKnight Foundation.

Built upon his experiences living abroad, degrees held in International Economics and Information Systems and his innate interest in the brain and cognition, Wes’ work focuses on revealing patterns about human behavior and how our actions impact our surroundings.

Pitch Interactive’s work spans illustrations, physical installations, console game user interfaces, software applications, websites and textiles. Their work has been showcased at the MoMA’s TalkToMe exhibit in in New York, the McKnight Foundation’s 30 year anniversary exhibit, the Foosaner Art Museum’s “The Art of Networks” exhibit, The Max Planck Science Express Train, the Data Flow books and many other internationally acclaimed publications.

For the original version on PRWeb visit: http://www.prweb.com/releases/prwebclimbexplore/climbsf/prweb10860647.htm

Article source: http://www.watchlistnews.com/2013/06/22/climb-real-estate-group-launches-innovative-new-real-estate-search-website/

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

San Francisco, CA (PRWEB) May 17, 2013

Climb Real Estate Group’s new app for iOS devices allows users to browse homes and apartments for sale and rent in the San Francisco Bay Area. Buyers, sellers, owners, and luxury real estate aficionados are set to explore the world of extraordinary real estate with Climb’s long-awaited app.

The app shows high-quality photos and a full description for each of Climb Real Estate’s properties, as well as a link to contact the listing agent directly from the mobile device. Listings are updated in real time so users are always up-to-date with what’s happening in San Francisco real estate.

The app’s features include the ability to see all Climb’s current sales and rental listings or see what’s been recently sold and rented. Users can browse agent profiles, save favorite properties for viewing later, or share properties via email, Facebook and Twitter from inside the application.

“We are happy to announce that our dedicated mobile users can find a version at Apple’s Newsstand featuring some of our many fine properties,” said Climb partner Mark Choey, who was instrumental in the development and launch. “As a thought leader in the real estate technology space, it is crucial that Climb have an app.”

“With such a larger userbase using smart phones, iPads and other mobile devices, the importance of communicating effectively with a mobile consumer is essential,” said Managing Director Dirk Kinley. “What we have created not only provides compelling information for buyers, but it also reflects the innovation of Climb’s brand.”

The “ClimbSF Real Estate” app is available for free from iTunes and the Apple App Store.

Climb Real Estate Group is a full-service general real estate brokerage with an emphasis on the purchase, sale, rental and marketing of select residential new developments, commercial and premier resale properties. We specialize in condos, high rises, lofts and homes in South Beach, SOMA, South Beach, Mission Bay, Rincon Hill, Potrero Hill and Central Waterfront. Our focus is on urban-style properties, specializing in new construction, historic loft conversions, live/work spaces, Victorian flats, modern condominiums, and stylish single-family homes. We also have exclusive access to Off-Market Listings, Foreclosures and Developer Specials.

For the original version on PRWeb visit: http://www.prweb.com/releases/prwebclimbsf/launchesipadapp/prweb10742681.htm

Article source: http://www.sfgate.com/business/prweb/article/Climb-Real-Estate-Releases-iPad-App-for-San-4526213.php

Users can browse agent profiles, save favorite properties for viewing later, or share properties via email, Facebook and Twitter from inside the application.

San Francisco, CA (PRWEB) May 17, 2013

Climb Real Estate Group’s new app for iOS devices allows users to browse homes and apartments for sale and rent in the San Francisco Bay Area. Buyers, sellers, owners, and luxury real estate aficionados are set to explore the world of extraordinary real estate with Climb’s long-awaited app.

The app shows high-quality photos and a full description for each of Climb Real Estate’s properties, as well as a link to contact the listing agent directly from the mobile device. Listings are updated in real time so users are always up-to-date with what’s happening in San Francisco real estate.

The app’s features include the ability to see all Climb’s current sales and rental listings or see what’s been recently sold and rented. Users can browse agent profiles, save favorite properties for viewing later, or share properties via email, Facebook and Twitter from inside the application.

“We are happy to announce that our dedicated mobile users can find a version at Apple’s Newsstand featuring some of our many fine properties,” said Climb partner Mark Choey, who was instrumental in the development and launch. “As a thought leader in the real estate technology space, it is crucial that Climb have an app.”

“With such a larger userbase using smart phones, iPads and other mobile devices, the importance of communicating effectively with a mobile consumer is essential,” said Managing Director Dirk Kinley. “What we have created not only provides compelling information for buyers, but it also reflects the innovation of Climb’s brand.”

The “ClimbSF Real Estate” app is available for free from iTunes and the Apple App Store.

Climb Real Estate Group is a full-service general real estate brokerage with an emphasis on the purchase, sale, rental and marketing of select residential new developments, commercial and premier resale properties. We specialize in condos, high rises, lofts and homes in South Beach, SOMA, South Beach, Mission Bay, Rincon Hill, Potrero Hill and Central Waterfront. Our focus is on urban-style properties, specializing in new construction, historic loft conversions, live/work spaces, Victorian flats, modern condominiums, and stylish single-family homes. We also have exclusive access to Off-Market Listings, Foreclosures and Developer Specials.

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Article source: http://www.prweb.com/releases/climbsf/launchesipadapp/prweb10742681.htm

March 20, 2013 — Fentura Financial, Inc. reported net income for the three months ended December 31, 2012 of $453,000, compared to the $406,000 operating loss reported for the fourth quarter of 2011.

Article source: http://www.prweb.com/releases/dirkkinley/climbsf/prweb10549284.htm