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Ditch the suit and grab a hoodie – it’s colder than you think.

TRD is thrilled to announce that our real estate coverage is expanding to a fifth market: San Francisco. Gone are the days of hitchhiking hippies hiding their stash from the cops. Today, cable cars run alongside chartered Google buses and boutique dispensaries are scattered like Starbucks locations throughout the Financial District. But the Bay Area is so much more than just tech and counterculture.

Check out some of our most recent coverage and plug into SF real estate with us for even more.

• Scrappy startups of the 90s may have gotten their start in garages, but the Bay Area of today has real offices — and even more on the way, like this shuttered movie theater, slated for redevelopment with a $56.2 million construction loan.
• To the envy of debt-saddled millennials across the nation, Gen Z is jumpstarting the SF rental market. New York just surpassed San Francisco as the most expensive city for renters and the Zoomers have caught on, taking advantage of the city’s lowered rent and vacancies.
• Over the bridge and through the rainbow tunnel, aging rockstars are peacing out of Marin County – First Metallica’s Lars Ulrich in May and now Carlos Santana, whose Tiburon home just hit the market for $5.8 million.

Article source: https://therealdeal.com/2021/08/24/introducing-the-real-deal-san-francisco/

“It was such a big part of our lives,” said Tobener, 42, who lives in San Mateo and discontinued the season tickets that were in his family since 1988, “but last year, because of the pandemic, obviously, nobody was getting in anyway, and it kind of became less of a priority to go.”

Tobener said he isn’t any less a Giants fan. He still religiously roots for the team, follows broadcasts and consumes media coverage.

His story is not unique. Despite the Giants having MLB’s best record most of the season, attendance is down from pre-pandemic levels. Averaging 18,056 per game, they rank just 13th in MLB, lowest in the ballpark’s 22-year history. (Excluding last year, of course, when attendance was zero.)

According to fans and executives, reasons for the drop range from caution because of the coronavirus to the low rate of workers returning to San Francisco workplaces to the inability to cater to large groups to the reduction of available public transportation.

And price.

“It became prohibitive for us because the resale market was gone,” Tobener said. “After 2016 when things started going downhill, there were nights I literally couldn’t give tickets away. That adds up after a while.”

Since opening their park in 2000, the Giants traditionally ranked among MLB’s attendance leaders. They were fourth in 2018. But in 2019, the third of four straight losing seasons, they fell to 11th.

So it’s not all about COVID-19. The Giants were on a downward trajectory before teams adopted different coronavirus protocols. While the Texas Rangers welcomed a sellout crowd of 38,238 in their home opener, the Giants opened with far stricter regulations and state and city mandates — including full vaccinations or negative test results. They drew 7,390 for their first home game and 3,662 a few days later.

At first, the Giants couldn’t seat more than 22% of their capacity while socially distancing fans with four-seat pods. There wasn’t room for all season-ticket holders at every game, so their access alternated every third game.

Only on June 25 did full capacity become available. Average attendance since has been 28,636 over 27 games and four homestands, topping off at 36,928 in the 41,331-seat facility.

“I think you’ve got to throw out average attendance for the year. How can you compare apples with kumquats?” Giants CEO Larry Baer said. “Before June 25 is irrelevant. Even then, we had to go back to season-ticket holders, start the group process. The velocity of sales is going well, but certain pieces have been tougher than others.”

Corporate group sales, for instance. In better times, those added roughly 300,000 tickets per year, 10% of 3 million total attendance, which the Giants have achieved 17 times. Until further notice, group sales have mostly dried up.

And with a fraction of fans returning to their workplace in the city, going to the ballpark at the end of the business day is far less common. San Francisco’s office vacancy rate rose to 20.1% in the second quarter, the highest since 2003, according to a Chronicle report last month. Kastle Systems, a Bay Area real estate security firm, reports a mere 19% occupancy rate.

That helps explain the attendance differential between weekdays versus weekends. Crowds were below 25,000 on the last homestand for weekday games against Arizona but in the mid-30,000s for weekend games against Colorado.

“As the world comes back, we’ll be fine,” Baer said. “Fans have been great. We have a good ticket base. They’ve come to the ballpark, and we’ve tried to make it a safe experience.”

The Giants’ season-ticket sales were 29,000 in peak years; now they’re 18,000 to 20,000, all full-season packages. There was no preseason FanFest to drum up sales. Season-ticket holders were given the option to roll their plans over to 2022.

Sales are as good as they are because of a breakout season. The Giants’ 84-46 record puts them 2 ½ games ahead of the second-place Dodgers in the NL West. The upcoming homestand is expected to attract season-best crowds for the playoff-bound Brewers and Dodgers. The Giants are on pace to sell out the Dodger games Saturday and Sunday, according to Russ Stanley, the team’s senior vice president of ticket sales.

“Those games are white-hot,” Stanley said. “The rivalry is as hot as ever.”

While overall attendance is down, TV ratings are up 70% compared with 2019 and 2020, according to numbers provided by NBC Sports Bay Area. TV was the only way for fans to watch while they weren’t allowed in the ballpark in 2020. Some got comfortable staying home.

“I got used to watching on TV,” said lifelong Giants fan Kevin Kirkman, 62, of El Sobrante. “But there’s nothing like being there with fans and getting to cheer, all the stuff you miss on TV. It’s a great thrill to be out there after missing all that time last year.”

Limited late-night trains with BART and Muni make things harder still. Options include leaving games early, paying big prices for rides home — or just not going.

Fallen SF firefighter’s family relieved of burden; nonprofit pays off mortgage

An organization that rose from the ashes of 9/11 is still helping first responders, including right here in the Bay Area. Tunnel to Towers has had a tremendous impact on the family of Jason Cortez, the San Francisco firefighter who lost his live in October of last year.

SAN FRANCISCO – An organization that rose from the ashes of 9/11 is still helping first responders, including right here in the Bay Area. Tunnel to Towers has had a tremendous impact on the family of Jason Cortez, the San Francisco firefighter who lost his life in October of last year.

The loss of San Francisco firefighter Jason Cortez is still washing over his wife and two young sons.

Cortez died in October 2020, when he fell in a training exercise. Now, Tunnel to Towers, a non-profit established to honor a firefighter who gave his life in New York on 9/11, is looking to relieve one burden for the Cortez family.

Anyone familiar with Bay Area real estate knows just how expensive a home can be. Tunnel to Towers has stepped forward and paid off the mortgage on the house that Cortez shared with his family. 

“This is formally presented to you, a letter that says the mortgage on the home has been completely satisfied,” said Andrew McClure from Tunnel to Towers.  

He said it was his honor to offer some peace of mind for a family that has sacrificed so much. “To us it’s our duty to make sure that this family has at least one burden taken away,” said McClure. “So, we’re taking away pretty much the biggest one you have each month; the mortgage payment on the house.”

The loss for Patty Cortez is still painful, she says she is grateful to Tunnel to Towers for allowing her to focus on family, not finances. “It’s a relief that we can just focus on our healing,” said Patty Cortez. “And it’s so nice to know that there are people out there who continue to support us. Even people we don’t know.”

Jason Cortez’ death also devastated his fellow firefighters, who continue to stand by the Cortez family, and draw inspiration from the way Jason lived his life. “It’s been really hard trying to carry on without you, but I’m going to continue to try and do it like you always did,” said San Francisco firefighter Brian Sullivan. “With that big goofy smile, infectious laugh and all that love.”

Tunnel to Towers says while its origins lie in 9/11, its mission has grown. The organization says in the 20 years since it was founded, it estimates by the end of this year it will have provided $250 million in funds to provide 450 homes to the families of first responders and military members. 

“Its mission is really simple, ‘while we’re here, let us do good,’” said McClure. “And we’re doing good for others whether it’s fallen first responders and their families, catastrophically injured service members, Gold Star widows, 9/11-related illness… deaths; so if something bad is out there, we’re going to try to do right by it.”

Tunnel to Towers says in an ideal world, they would be put out of business, with no need for their services. But, they say they know the reality is we don’t live in that ideal world, so they say they have pledged to continue helping those in need. 

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If you’d like to help out the Tunnel To Towers Foundation check the link here. 

Article source: https://www.ktvu.com/news/fallen-sf-firefighters-family-relieved-of-burden-nonprofit-pays-off-mortgage

Beyond the split with his wife, the property comes on the market as Kane struggles with ongoing financial issues. He declared bankruptcy in January, with reported gambling losses of $1.5 million. At the time of the filing, he had assets of $10.2 million and liabilities of over $26.8 million.

In July, Anna filed for divorce, and a couple of weeks later, she took to Instagram and accused Kane of wagering on his team’s own games, a claim the NHL has said it is investigating. If true, it could result in Kane being banished from the league. While the investigation continues, recent reports indicate his own teammates don’t really want Kane to return to the Sharks.

Kane took to Twitter and called the claims from his estranged wife “completely false.”

All messiness aside, the home now on the market is a clean winner.

Evander Kane’s San Jose home (Realtor.com)

Entry and glassed wine closet (Realtor.com)

Kitchen with marble counters (Realtor.com)

Family room (Realtor.com)

MORE FROM REALTOR:

• Wayne Gretzky Selling a $22.9M Mansion So Nice, He Bought It Twice
• Former NHL Star Oleg Tverdovsky Selling Sleek $8.8M Mansion in Bel-Air
• Maple Leafs Star Joe Thornton Wants $9.5M for Beautiful Bay Area Mansion

Bedroom (Realtor.com)

Kane’s mansion on the market (Realtor.com)

With five bedrooms and 4.5 bathrooms, the 3,706-square-foot dwelling is a spec home completed in 2020. A small bungalow once sat on the property, but was torn down in 2018 after being sold for $1.3 million.

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Watch: NHL Legend Joe Thornton’s Custom Mansion in NorCal Is Worth Skating Through

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It is set on a tree-lined street, and the listing notes that “no expense has been spared” in the creation of the farmhouse-style estate.

The layout opens to a bright and light floor plan, with high ceilings. An entry features a staircase and glass-enclosed wine storage closet. Numerous windows and glass doors open outside, and allow for an airy feel and outdoor flow.

On the main level, there’s an open kitchen with a large island and marble counters, a breakfast bar, and a pantry, as well as stainless-steel appliances, including a wine fridge.

The kitchen area has room for a table, and looks out to a spacious family room with a fireplace and glass doors leading outside. The house is set on a quarter-acre, and the patio steps down to a grassy backyard.

A formal dining room opens onto a courtyard or deck, and the flexible floor plan features the master suite, as well as a separate office on the main level.

Luxury details include vaulted ceilings, hardwood floors, custom ceiling fans, and an oversized two-car garage with additional workshop space.

The left wing was selected fourth overall in the 2009 NHL draft. In 2018, Kane signed a seven-year, $49 million contract worth $7 million annually with the team. In 2021, he was nominated by the Sharks as player of the year.

The post Amid Controversy, Sharks Star Evander Kane Selling $3.2M San Jose Home appeared first on Real Estate News Insights | realtor.com®.

SAN FRANCISCO (KRON) — Before you consider leaving the Bay Area over its high housing costs, make sure to research where you’re headed to prevent getting stuck in another expensive situation.

A recent Zillow report is predicting several cities to become less affordable within a few short months.

The report says Austin, Texas, will become the least affordable major U.S. city by December for home-buyers, if you take all California locations out of the equation.

“By December, even if mortgage rates stay the same moving forward, home buyers in Austin should be prepared to spend 30.1% of their income on a mortgage — above the 30% housing-burdened threshold,” the report says. “The only markets that will be less-affordable than Austin at the end of the year are all in typically pricey California: Riverside, San Diego, Los Angeles, San Jose and San Francisco.”

As reports of a Bay Area exodus surfaced during the pandemic, Zillow says Austin; along with Phoenix, AZ and Charlotte, NC; saw the highest net inbound moves in the first 11 months of 2020.

Austin was a top destination for residents who moved out of San Francisco during this time, Zillow reported.

People with San Francisco salaries moving out to Austin while remote working could explain the rising costs.

With the increase coming, Zillow recommends relieving the expensive burden from current residents by relaxing zoning restrictions and make it easier to build more high-density housing like townhomes and condos.

It’s not just remote workers who moved to Austin from the Bay Area – whole companies are relocating to the Lone Star State.

Oracle Corp. moved its headquarters from Redwood City to Austin in Dec. 2020. Tesla is building a new factory just outside of Austin, and CEO Elon Musk said he moved there to be near it.

Article source: https://www.kron4.com/news/real-estate/this-city-is-set-to-become-least-affordable-outside-of-california/