San Francisco, CA (PRWEB) March 30, 2012

The first development on our radar is Millwheel South, the first of a two phase construction project to begin this Spring. Located at Indiana and 23rd Street, Millwheel South (and its counterpart Millwheel North, scheduled to open in 2013) offers incredible convenience to commuters with access to the 3rd street MUNI rail line, the 280 and 101 freeways, and local Dogpatch mainstays like Piccino Café, Kitchenette, and The Sandwich Shop (highly recommended). Phase 1 will offer buyers 32 new 1200-1500 square foot units that should be priced between $500-800k. Millwheel South’s sales office just opened, so call us today for more info.

Next on the list is the buzz worthy Homes on Espirit Park development. These Dogpatch homes feature over 25 different floor plans with large 1 and 2 bedroom flats and town-homes. With city, water, and park views, these luxurious condos will feature amenities like large patios, landscaped courtyards, a fitness center, theatre room, and all buildings are dog-friendly. Prices will likely be in the $600,000-$1.1m range, meaning options are available for all interested parties.

1029 Natoma is the third proposed new development in 2012. Building on the success of 1028 Natoma, located right across the street, this development will fill a long empty lot with 4 new residential units. With condos priced at around $800k, these convenient homes would make a perfect fit for San Franciscan urbanites looking for short commute times and neighborhood convenience. More info to come soon on this exciting new development.

Our resident One Hawthorne superstar, Todd Montgomery, offered some key insights into buying in the new construction market. “We are standing at an interesting crossroads at the moment – with more buyers in the SOMA and South Beach markets than ever and a limited supply, a new game is being played this year, and it looks like the sellers are holding all the cards. With the current state of the the market, buyers must look to re-shift their strategy to find something more priced to market and most importantly, something they are happy with.” One Hawthorne, one of the city’s last new construction projects is now 82% sold with the upper floors being released to buyers this season. The continuing interest in new construction, spurred on by the rebounding tech sector in San Francisco’s downtown, is a very positive sign of growth for the city, so expect more big announcements of new developments in the months to come.

Contact Climb Real Estate today for more information on these and other new construction projects in San Francisco.

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. 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: www.prweb.com/releases/prweb2012/3/prweb9349170.htm

Article source: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/03/30/prweb9349170.DTL

Articles all over the web report that real estate professionals are gearing up, potential buyers are trying to buy now before the IPO and sellers are trying to determine their best course of strategy.  From the local Mercury News :

Realtors say the buzz around Facebook is already sparking the long moribund housing market. Potential sellers want to know whether they should sell now or wait, and buyers are fervently pushing their agents to get into the Peninsula housing market before the IPO, anticipating rising prices as the newly wealthy compete for the hottest neighborhoods from San Francisco to Palo Alto.

The New York Times writes that if you thought housing was expensive in the Valley now, just wait for the Facebook update:

..10 homes in Palo Alto sold for more than their asking prices last month, some by large amounts. Now, with the long-expected Facebook public offering a step closer to reality, Mr. DeLeon said he expected to see several things happen: some sellers may keep their homes off the market until they judge the time is right, some speculators may snap up old houses to tear down and rebuild, and some buyers may feel pressure to make offers before the deluge hits.

While the Valley is bubbling with nervous excitement, the Wall Street Journal notes that the benefits of the Facebook IPO may only reach so far.  New potential Facebook millionaires still want a short commute to work.

In communities in the shadow of tech giants like Facebook Inc. in Menlo Park, housing prices are on a tear. Menlo Park led the Bay Area with a 52.7% increase in its median home sales price in the fourth quarter, with prices rising to $1.29 million from $840,000 a year earlier, according to DataQuick. Palo Alto’s median home-sales price jumped 12.5% to $1.1 million from $977,750, according to DataQuick.

Cities outside of Silicon Valley didn’t fare as well. Sonoma, for example, experienced a 24.1% drop in the fourth quarter in its median home-sales price to $356,000 from $469,000 a year ago, while Walnut Creek prices fell 18.3% to $580,000 from $709,500, according to DataQuick.

 Since we live in the Bay Area, we should know what’s happening out there.  Readers – what have you seen?  Are you looking to buy or sell in the Valley?  Does the Facebook IPO affect how you’re planning to buy or sell?

Article source: http://blog.sfgate.com/ontheblock/2012/02/13/facebook-ipo-is-sizzling-up-silicon-valey-real-estate/