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San Francisco Real Estate Broker "Not Welcome" in City

Fri, 19 Jul 2013 03:24:18 +0000

San Francisco Board of Supervisors President David Chiu has admonished WB Coyle, a prominent real estate broker from district.

Article source: http://www.nbcbayarea.com/news/local/San-Francisco-Real-Estate-Broker-Not-Welcome-in-City-215887761.html

San Francisco Real Estate Broker “Not Welcome” in City

Thu, 18 Jul 2013 09:22:04 +0000

San Francisco Board of Supervisors President David Chiu has admonished WB Coyle, a prominent real estate broker from district.

Article source: http://www.nbcbayarea.com/news/local/San-Francisco-Real-Estate-Broker-Not-Welcome-in-City-215887761.html

San Francisco parking spot sells for $82000

Sat, 13 Jul 2013 20:59:56 +0000

(AP) SAN FRANCISCO – Parking spots apparently aren’t immune from the recent surge in San Francisco real estate prices.

A spot in the city’s trendy South Beach neighborhood sold last week for $82,000, the San Francisco Chronicle reported on Thursday ( ).

The 8- by 12-foot parking space is in an enclosed garage in a condominium building near the San Francisco Giants’ ballpark. A Porsche SUV was parked in it on Thursday. The Chronicle said the unidentified buyer did not respond to interview requests.

While it may seem like a lot of money, real estate agents said parking could be a good investment in densely packed San Francisco, where vehicle spaces go for a premium. They can add as much as $100,000 to the purchase price of a property or be rented out at rates of $400 to $450 a month _ the going rate in South Beach.

“We had a very good response right out of the gate,” said Sean Sullivan with Climb Real Estate, which sold the spot. “It was only in the market two weeks.”

Sullivan said he sold a parking spot in the same building at the height of the last real estate boom for $95,000.

Overall, the city has seen real estate prices climb. Home prices in San Francisco grew by 22.2 percent in March compared with a year ago, second only to Phoenix among U.S. cities, according to The Standard Poor’s/Case-Shiller home price index released in May.

Home prices in the wider, nine-county San Francisco Bay area posted a 12th straight month of double-digit price increases last month, according to research firm DataQuick. DataQuick said Thursday that the median price for new and existing houses and condominiums reached $519,000 in May, up 30 percent from the same period last year.

Condos in the South Beach area are going for $1,000 a square foot, the Chronicle reported. At 96 square feet, the parking space was a relative bargain at $854 per square foot.

Sullivan said the building where the parking spot was sold was built before the city restricted spaces to one per unit. It is one of the few buildings that allows nonresidents to own a spot.

The owner has a deed and must pay property taxes and homeowner association dues.

The sale was all cash.

Article source: http://wnyt.com/article/stories/s3066080.shtml?cat=300

Yes, price cuts do still happen on the San Francisco market

Tue, 25 Jun 2013 20:06:37 +0000

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With all the news of a hot market, over-bidding, and homes being bought before they even hit the MLS, we thought a small dose of humble pie might be in order for San Francisco real estate. For instance, despite being 4 beds, 4 baths with a deck, backyard and lower level rec room, the Octavia Street home above hasn’t sold in over 25 days; not only that, it’s had to drop its price $300K in hopes of finding a buyer.

What will it ultimately sell for?

Condos

Condos have been in demand as well, but that doesn’t mean every single one flies off the market at over-asking price. This Bryant St. unit, a loft-like 1 bed, 2 bath with deeded parking, listed in early June for $649K and is now down to $599K.

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What price do you think it might actually get, readers?

Co-ops

Co-ops too, despite the (limited) allure of exclusivity and general rarity they enjoy, have suffered recent price-cuts. This classic example on Gough St., a 4 bed, 3,5 bath in Pacific Heights, has dropped from $2,850,000 to $2,695,000.

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How much will it finally fetch?

We’re hardly pointing out a major reversal in the market. As this infographic courtesy of Paragon Real Estate Group shows, May sales were heavily weighted toward at-or-above-asking prices.

May sales in SF sold largely at or above asking. Courtesy Paragon R.E., SF

Still, 10% of homes sold at less than asking (though not by much), proof of some (waning) buyer power still in existence.

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, and writes for SFGate and CurbedSF. Follow Anna on Twitter: @AnnaMarieErwert

Article source: http://blog.sfgate.com/ontheblock/2013/06/25/yes-price-cuts-do-still-happen-on-the-san-francisco-market/

Parking Spot Sells For $82K In San Francisco Building

Mon, 24 Jun 2013 07:58:38 +0000

SAN FRANCISCO (CBS/AP) – It seems parking spots aren’t immune from the recent surge in San Francisco real estate prices.

A spot in the city’s trendy South Beach neighborhood sold last week for $82,000.

The 8- by 12-foot parking space is in an enclosed garage in a condominium building just a block from ATT Park. The unidentified buyer did not respond to interview requests, but a Porsche SUV was parked in the space on Thursday.

While it may seem like a lot of money, real estate agents said parking could be a good investment. It can add as much as $100,000 to the purchase price of a property, or be rented out at rates of $400 to $450 a month — the going rate in South Beach.

Sean Sullivan, who sold the space, said the spot has an ideal location with Instagram and other tech companies nearby.

“We had a very good response right out of the gate,” said Sullivan, an agent who works for Climb Real Estate. “It was only in the market two weeks.”

Sullivan said that he’s previously sold a space for even more. In fact, he sold a parking spot in the same exact building at the height of the last real estate boom for $95,000.

Overall, the city has seen real estate prices climb. Home prices in San Francisco grew by 22.2 percent in March compared with a year ago, second only to Phoenix among U.S. cities, according to the Standard Poor’s/Case-Shiller home price index released in May.

Home prices in the wider, nine-county Bay Area posted a 12th straight month of double-digit price increases last month, according to research firm DataQuick. DataQuick said Thursday that the median price for new and existing houses and condominiums reached $519,000 in May, up 30 percent from the same period last year.

Condos in the South Beach area are going for $1,000 a square foot. At 96 square feet, the parking space was a relative bargain at $854 per square foot.

Sullivan said the building where the parking spot was sold was built before the city restricted spaces to one per unit. It is one of the few buildings that allows non-residents to own a spot.

The new owner has a deed and will be required to pay property taxes and homeowner association dues on his little slice of South Beach.

The sale was all cash.

Article source: http://sanfrancisco.cbslocal.com/2013/06/13/parking-spot-sells-for-82k-in-san-francisco-building/

San Francisco Parking Spot Sells for $82000

Fri, 14 Jun 2013 13:20:57 +0000

Parking spots apparently aren’t immune from the recent surge in San Francisco real estate prices.

A spot in the city’s trendy South Beach neighborhood sold last week for $82,000, the

“We had a very good response right out of the gate,” said Sean Sullivan with Climb Real Estate, which sold the spot. “It was only in the market two weeks.”

Sullivan said he sold a parking spot in the same building at the height of the last real estate boom for $95,000.

Condos in the South Beach area are going for $1,000 a square foot, the Chronicle reported. At 96 square feet, the parking space was a relative bargain at $854 per square foot.

Sullivan said the building where the parking spot was sold was built before the city restricted spaces to one per unit. It is one of the few buildings that allows nonresidents to own a spot.

The owner has a deed and must pay property taxes and homeowner association dues.

The sale was all cash.

Copyright Associated Press

Article source: http://www.nbcbayarea.com/news/local/San-Francisco-Parking-Spot-Sells-for-82000-211467521.html

State and Investors Accuse San Francisco Broker of Fraud

Thu, 23 May 2013 16:48:25 +0000

A prominent San Francisco real estate broker could lose his license after the NBC Bay Area Investigative Unit uncovered what his investors call a decade of deception. The broker attracted more than a dozen investors to false promises of profit from prime real estate in a historic San Francisco neighborhood.

Article source: http://www.nbcbayarea.com/investigations/WB-Coyle-208367411.html

Bay Area rents, home prices up sharply

Thu, 03 Jan 2013 07:04:47 +0000

If you’re seeking a new pad in the Bay Area, you can expect to pay more than a year ago whether you’re buying or renting, according to a report released Wednesday.

Asking prices for homes for sale around the Bay Area rose substantially in December compared with the same time last year, according to San Francisco real estate website Trulia, ranging from a 16.3 percent spike in tech-fueled Santa Clara County to a 7.6 percent increase in Napa County. The nine-county Bay Area saw an average increase of 13 percent. By comparison, asking prices nationwide rose 5.1 percent in December compared with December 2011, Trulia said.

“Both job growth and tighter inventory gave (sale) prices a lift,” said Jed Kolko, Trulia’s chief economist. “Price increases accelerated throughout 2012, getting bigger as the year went on.”

Analyzing asking prices of homes currently for sale provides a leading indicator of what sales numbers are likely to look like in a few months’ time, Trulia said.

Data on sales throughout much of 2012 have shown the housing market recovering from the extended downturn that started in 2007.

Nationwide, Trulia said, “2012 marked a huge turnaround year for most local housing markets” with prices increasing in 82 of the 100 largest metro areas in December. In December 2011, only 12 markets had price increases.

Las Vegas, Seattle and Phoenix were Trulia’s “top turnaround” markets, followed by Oakland metro (Alameda and Contra Costa counties) and San Jose metro (Santa Clara and San Benito counties).

California cities such as Sacramento and Fresno that were devastated by the housing crisis also saw strong gains in 2012, Trulia said.

“Nine of the top 10 turnaround markets in 2012 were in the West,” Kolko said. “The only one east of the Rockies was Atlanta.”

Asking rents also rose, with Alameda County seeing the biggest spike (13.2 percent) and already pricey San Francisco the least (2.9 percent), Trulia said. The average increase for eight Bay Area counties (Napa did not have enough data) was 7.8 percent. Nationwide, rents grew 5.2 percent.

“We’re seeing rent increases across the region,” Kolko said. “In San Francisco they were smaller because rents are already so much higher there than elsewhere and it has had strong rent increases before this. The slower increase doesn’t make the city affordable.”

While rising home prices illustrate a housing market beginning to recover – and to stimulate economic recovery – they of course are not good news for those house hunting.

“They come with the perennial challenge of affordability in the Bay Area,” Kolko said.

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

Article source: http://www.sfgate.com/realestate/article/Bay-Area-rents-home-prices-up-sharply-4163037.php

San Francisco Real Estate Company The Beverley Group …

Sat, 23 Jun 2012 20:07:06 +0000

Sunny Thiara of The Beverley Group is proud to announce the Pratt accomplishment.

San Francisco, CA (PRWEB) June 23, 2012

Sunny Thiara of The Beverley Group, a company that offers real estate services throughout San Leandro, Danville, Dublin and Pleasanton, seeks to find anyone’s dream home and sell houses quickly. Most importantly, he does it all and works hard for all of his clients. This is exemplified in Thiara’s relationship with Pratt, a Cisco accountant.

“He came to me with three requests: to sell his parents’ house, find investment property for him and help him with a great deal on his mortgage,” Thiara said. “I accomplished all three within two weeks.”

The Beverley Group offers a boutique environment for those looking to purchase, sell or handle luxury real estate, bulk sales, short sales and listings. It also handles all aspects of real estate, but primarily focuses on providing clients with representation and consultation as they conduct their real estate transactions.

The real estate company’s top performing agents make every effort to understand the client’s real estate needs, whether it’s to handle the short sale process on different properties, locate properties that have strong returns or offer real estate advice on the value of specific properties. As a company that provides boutique-type treatment, its experience and advice is at anyone’s disposal.

For more information about The Beverley Group’s Bay Area luxury homes, real estate listings or services, call 925-478-3456 or view the real estate company on the Web at http://www.beverleygrp.com. The Beverley Group is located at 1201 Fourth St. in San Francisco.

About The Beverley Group Real Estate Services

The Beverley Group provides boutique real estate representation to businesses and individuals in the Bay Area. It offers client consultation on a variety of real estate matters, from short sales, bulk home sales, luxury real estate properties and more. The Beverley Group serves the areas of San Leandro, Danville, Dublin, Pleasanton, Alamo, Tiburon and Sausalito.

For the original version on PRWeb visit: http://www.prweb.com/releases/prwebluxury-homes/bay-area/prweb9634035.htm

Article source: http://www.sfgate.com/business/prweb/article/San-Francisco-Real-Estate-Company-The-Beverley-3657362.php

How do IPOs affect San Francisco real estate?

Tue, 22 May 2012 10:40:31 +0000

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Article source: http://www.examiner.com/article/how-do-ipos-affect-san-francisco-real-estate