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Buyers in the typically ferocious San Francisco Bay Area real estate market looked decidedly less enthusiastic in December, as sales dropped despite more discounts, according to a report Wednesday from Compass.

The tech-hotbed logged 22% year-over-year transaction declines in December, the brokerage said. However, total activity in 2018 showed a slight improvement over 2017, with a 1% increase across the Bay Area, driven by the highest end of the market, which logged the largest transaction gains.

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The median home price in December in the Bay Area was $860,000, a 2% decline from the same time in 2017.

But as transactions slowed in December, inventory inevitably rose.

Housing stock rose 31% across the entire Bay Area, led by homes priced below $1 million, which logged a 35% increase in stock in the year to December. The inventory of homes between $1 million and $2 million saw inventory levels rise 37%, according to the data.

The exception was the upper echelons of the market. Homes priced at $3 million and more saw no change in inventory levels.

On a county level, Santa Clara County logged the largest inventory increase in the Bay Area (66%). And while San Francisco saw some increase in inventory in the last months of 2018, the county was the only one to log a year-over-year stock decline in December (-1%).

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“When examining inventory gains, it’s important to keep in mind that the increases come on the heels of very low levels of homes for sale,” Selma Hepp, Compass chief economist, said in the report.

“Thus, even with more homes for sale, inventory in Santa Clara County reached only a 1.7-month supply in December from 0.7 months last year, which is notably below the six-month supply mark considered to be a balanced benchmark between buyers and sellers,” she added.

As some buyers decided to pause in December—a result of multiple uncertainties including political issues, financial volatility and concerns over economic growth—others proceeded more cautiously, the report said.

In December, Bay Area homes sold in an average of 28 days, almost two weeks longer than at the same time last year.

In response, sellers reduced asking prices to lure buyers. Across the Bay Area, the share of price reductions doubled, increasing to 33% in December 2018, from 15% a year earlier, the report said.

Article source: https://www.mansionglobal.com/articles/after-nearly-nonstop-growth-san-francisco-bay-area-buyers-take-pause-119686

Why get caught up in the rocky real estate market of San Francisco when you can get lost in the crags of your own personal 80-acre Irish island?

With the median house cost in the city now floating just south of $1.4 million, you might instead consider buying this bucolic property two miles off the coast of Galway that’s listed with a comparable asking price.

Like many other pastoral portions of the European nation, High Island (or Ardoilean) is home to rolling grass, two fresh water lakes and an “abundance of birdlife.” Also, like the mainland, it’s teeming with historical artifacts.

RELATED: An entire California wine appellation is on the market for $3.3 million

Some ruins may date back to 300 BC, when some say it served as an Iron Age settlement, but it is slightly better documented to have hosted several dozen inhabitants in the seventh century, when early Christians built a monastery there. (Many believe that Saint Féichín himself — associated with supernatural healing abilities — was responsible for the founding of the church, but scholars say it’s hard to verify such claims.)

Remnants of the monastery, an old water mill that may have been the first of its kind in Ireland, and interestingly, a “beehive hut,” still exist on the island, making it a living historic destination and one researched by scholars for decades. It’s also, as the Guardian points out, just 200 miles north of the Skellig Islands, which “Star Wars” fans may recognize as the backdrop of Luke Skywalker’s lush, secluded holy Jedi hideaway.

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  High Island sits two miles off the coast of Galway, pictured here.

  Scroll ahead to see Travel + Leisure’s best places to travel in 2019

  High Island sits two miles off the coast of Galway, pictured here.

  Scroll ahead to see Travel + Leisure’s best places to travel in 2019

  
  Photo: Neil Setchfield / Getty Images
  

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High Island sits two miles off the coast of Galway, pictured here.

Scroll ahead to see Travel + Leisure’s best places to travel in 2019

High Island sits two miles off the coast of Galway, pictured here.

Scroll ahead to see Travel + Leisure’s best places to travel in 2019

Photo: Neil Setchfield / Getty Images

RELATED: The smallest home listed in San Francisco isn’t beautiful, but it has potential

Now here’s the bad news: Whoever buys the island won’t own the monastery or the artifacts — those belong to the government — and they’ll likely have to build their own home if they plan on living there. The ad notes that there is a 970-square-foot modern structure (with a septic tank), but any other future building plans will need to go through the local planning department.

Buyers are warned to “please note we have not tested any apparatus, fixtures, fittings or services. Interested parties must undertake their own investigation into the working order of these items.”

As for who will end up with the property, the realtor, Luke Spencer of Spencer Auctioneers, has a few ideas. It might be a wealthy European, or it might be some famed Bay Area tech CEO, as he told the Guardian: “someone from Google, or [Mark] Zuckerberg.”

Alyssa Pereira is an SFGATE staff writer. Email her at apereira@sfchronicle.com or find her on Twitter at @alyspereira.

Article source: https://www.sfgate.com/travel/article/irish-high-island-sf-median-home-price-ardoilean-13635190.php

SAN FRANCISCO/ FEBRUARY 21, 2019 (STL.News)

ZorroSign, Inc., the pioneer of real electronic signature and developer of advanced DTM platform and document fraud and tampering detection system, today announced the official launch of its worldwide Developer Program, in an effort to simplify and enhance ZorroSign integrations with business systems. The primary purpose of the ZorroSign Developer Program is to inform, educate, and support the worldwide developer community as they integrate ZorroSign into various enterprise applications. Developers can now integrate ZorroSign’s eSignature, 4n6 (Forensics) Token on Blockchain, biometrics, intelligent forms in addition to its digital document tampering and signature forgery detection system into their business applications. The program is free to join.

“When companies go digital with eSignature, advance workflows, great user experience and document security become paramount.” Said Akbar Jaffer, Chief Marketing Officer of ZorroSign. “We are excited to offer our core technology and access to our complete platform, including mobile, to the developer community. We enable development of mission critical applications such as HR systems, sales contracts, insurance workflows, healthcare IT workflows, contract law and many others. This is our way of helping developers create apps that help their organizations go completely mobile and live a truly paperless life.”

Developers and product managers are also free from subscription legal terms-related issues, have access to flexible pricing plans and the ability to easily and quickly implement a solution that supports simple to complex business needs and bank-grade security and privacy for documents and user information.

Once fully integrated, ZorroSign API allows users to, request signatures on documents, eSign documents through mobile and web application, auto-fill forms, track progress in real-time, enforce multi-factor and biometrics authentication, and take advantage of crypto-tokenization for documents.

ZorroSign is ideal for developers specifically working with applications in the financial services, real estate, legal, insurance, health care, and high tech industries. Developers implementing applications that deal with cross-border payment systems, KYC across multiple countries, and document and contract management systems can take advantage of ZorroSign’s enterprise-grade advanced workflow automation and rules engine, file management system, and crypto-tokenization.

To download ZorroSign API Quickstart guide visit https://www.zorrosign.com/zorrosign-api-quickstart-guide/.

Today, ZorroSign is also launching the ZorroSign developer portal at http://www.zorrosign.com/developers from where developers can request sandbox account, download API quickstart guide, view complete API technical documentation, and get in touch directly with the ZorroSign developers.

Follow ZorroSign API twitter account, https://twitter.com/ZorroSignAPI and stay up to date on new features and developer news and information. ZorroSign is also offering complete API and integration training at no charge to developers.

About ZorroSign
ZorroSign, Inc. is the pioneer of electronic signature technology and the developer of ZorroSign DTM, a unified platform, a complete Electronic Signature and Digital Transaction Management solution. ZorroSign’s unique Document 4n6 (forensics) technology offers post-execution fraud detection and verification and authentication of electronic signatures and documents using Blockchain tokenization.

ZorroSign DTM streamlines end-to-end digital transactions with its bank-grade security and by using its core technology including real eSignature, electronic document security, enterprise-grade workflows, document management system, and intelligent forms that use Machine Learning and Artificial Intelligence.

For more information and to try ZorroSign for free go to http://www.zorrosign.com.

Trademarks
ZorroSign, ZorroFill, ZorroSign 4n6 Token, JustZSign, are registered trademark of ZorroSign, Inc. and/or its affiliates. All other trademarked names or terms used in this document are the properties of their respective owners.

SOURCE: https://www.prweb.com/releases/zorrosign_launches_worldwide_developer_program_at_developerweek_sf_bay_area/prweb16118962.htm

Article source: https://www.stl.news/zorrosign-launches-worldwide-developer-program-at-developerweek-sf-bay-area/261715/

The owners of the 1982-era Crocker Galleria mall in San Francisco want to revamp the Financial District property with an updated exterior, open-air restaurant space and new staircases.

Developers hope the $30 million in proposed renovations will help the three-story property at 50 Post St. attract local food vendors and shops.

Developer City Center Realty Partners and owner PGIM Real Estate, a division of insurance giant Prudential, pitched the plan to the San Francisco Planning Commission, which is expected to consider it in the coming weeks.

In a real estate trend as San Francisco continues to add jobs, the plan also calls for converting 6,665 of the center’s 90,000 square feet of retail space to offices.

“With a bold reimagining, this extraordinary asset has the potential to catalyze change in the area,” Sigurd Anderson, CEO of City Center Realty Partners, said in a statement. “We believe our firm’s urban real estate expertise will guide a strategy to breathe new life into the Galleria, and create a vibrant anchor for the heart of downtown San Francisco.”

Other malls around the Bay Area have sought to modernize through renovations or a new mix of tenants as the retail sector has struggled with bankruptcies and a shift to online shopping. A revamp of the former Macy’s in Stonestown Galleria in San Francisco’s Sunset District calls for new restaurants and a movie theater. Both Westfield San Francisco Centre downtown and the nearby vacant 6×6 mall have partial office space conversion plans.

Crocker Galleria has around 35 shops and restaurants. As of last week, six vacant spaces were visible on the first and second floors. Recent closures included T-We Tea, which had a temporary pop-up space, and Luxe Pieces, a jewelry store that relocated to the San Francisco Gift Center and Jewelry Mart in Showplace Square.

The idea of renovating Crocker Galleria is promising, said Margaret Murray, who works nearby and was eating lunch at the mall Friday.

Murray said the existing retailers seem outdated or a bad fit for office-worker patrons, such as the boutique Aricie Lingerie, which sells intimate apparel. She also feels the food options are unhealthy.

“It doesn’t foster a sense of community,” said Murray, who would also like to see an expansion of the Thursday farmers’ market.

Crocker Galleria, steps from Montgomery BART Station, was built as part of a development deal in the late 1970s involving its namesake, the former Crocker Bank. The bank built a 500-foot tower at the adjacent 120 Kearny St., along with the Crocker Galleria in a former alley, which maintained a public walkway.

It also removed 10 floors from the adjacent 1 Montgomery St., which is now a two-story Wells Fargo bank branch with a rooftop public space that connects to the mall.

In 2016, early plans for a 500-foot hotel and condo tower were proposed for 1 Montgomery St., but the San Francisco Planning Department opposed the plan because it would remove public space. No formal proposal was filed, according to city records.

More modest changes are moving forward in the area, with office renovations planned and under way at 1 Post St. — soon to be the former headquarters of McKesson — and 111 Sutter St.

Roland Li is a Chronicle staff writer. Email: roland.li@sfchronicle.com Twitter: @rolandlisf

Article source: https://www.sfchronicle.com/business/article/SF-s-1982-era-Crocker-Galleria-mall-seeks-13628743.php

SANTA CLARA, Calif., Feb. 19, 2019 /PRNewswire/ – Kylli, Inc. has assembled a team with extensive Bay Area development experience to usher its vision for 3005 Democracy Way in north Santa Clara, transforming an outdated office complex into a vibrant mixed-use neighborhood.

Led by Randi Gerson, Kylli’s Vice President of Real Estate Development, the project team represents decades of combined expertise across planning, approvals, construction, marketing and community relations, and a cumulative portfolio that includes some of the Bay Area’s more noteworthy projects.

“The caliber of expertise and the high-profile project experience this team brings to the table is extremely impressive,” said Gerson. “We are thrilled to have the right group at the right time to bring 3005 Democracy Way forward through entitlement, build-out and integration with its neighbors in north Santa Clara.”

Andrea Jones, Senior Director of Development, brings deep experience encompassing all aspects of community development and management, from land use, environmental review and entitlement to residential and master planned community design, market analysis and community engagement, to permitting and construction, to condominium governance and apartment management. Jones’ career spans three decades in leadership among California’s premier national development firms including serving as Vice President of U.S. Development and Operations for Bosa Development Corporation; Senior Vice President for Catellus Development Corporation; as Project Manager for leading nonprofit affordable housing developer BRIDGE Housing Corporation and most recently as Senior Director of Development for FivePoint Communities. She was a key player in the entitlement and development of the Mission Bay project, a 303-acre mixed-use development project in downtown San Francisco. She has entitled and developed more than 2,000 residential units in the Bay Area. Jones holds a bachelor’s degree in history from Tufts University and a master’s degree in Urban Planning from Columbia University’s Graduate School of Architecture, Planning and Preservation.

Jones leads and manages all special projects for Democracy Way, including the educational facility, substation and public improvements. She also manages and develops strategies for the project’s specific plan and leads all negotiations with public and private entities including the City, school district, public utility agencies and labor unions. In addition, Jones also has oversight of internal office operations.

Nicola Yem, Kylli’s Head of Marketing brings more than 20 years of marketing expertise and knowledge in commercial and residential real estate development across markets in London, Hong Kong, New York, Los Angeles and San Francisco. She has led marketing efforts for some of the most complex and large-scale developments in the country, including One World Trade Center in New York and Candlestick the SF Shipyard in San Francisco. She has delivered branding and marketing for several iconic residential projects including Lumina and 181 Fremont in San Francisco, One Beverly Hills in Los Angeles and Pacific Gate in San Diego.

Prior to her position at Kylli, she served as Managing Director at Wordsearch, launching their west coast business.  As Senior Managing Director and Head of Marketing for the Americas region at Cushman Wakefield, she was responsible for all marketing and new business efforts across 147 offices. She holds a bachelor’s degree in English from UCL, London University.

Yem leads overall marketing strategy and execution for 3005 Democracy Way including overseeing branding, audience and stakeholder relations and community outreach. She also leads Kylli’s brokerage program, directing brokerage consultants working on the commercial, residential and retail programming of the site.

Tim Woloshyn, Director of Development, brings more than 20 years of experience in residential urban infill development, specializing in acquisition, feasibility analysis, entitlements, permitting and preconstruction processes.

Woloshyn manages the entitlement process for 3005 Democracy Way.

At Democracy Way, Kylli proposes to transform a dated, single-use office complex in an emerging part of the city near Levi’s Stadium and Great America amusement park into a vibrant mixed-use urban neighborhood with 6,000 housing units, 3.65 million square feet of office space, 400,000 square feet of retail, approximately eight acres of open space, a hotel, and facilities geared toward education and daycare uses. The site will feature environmentally conscious design, leverage local transit to help reduce vehicle traffic and include a network of walking and bike paths that connect to regional trails to encourage sustainable, healthy living.

Kylli is in its second year of conversations with the community to help refine its vision for 3005 Democracy Way. A design workshop around Open Space is scheduled for March 4 from 6pm to 7:30pm at the Central Park Library in Santa Clara, and interested parties are encouraged to participate. To sign up for updates please visit www.3005DemocracyWay.com.

Kylli has been recognized in the San Francisco Business Times’ Deal of the Year awards for the full lease of Burlingame Point, its new, best in class waterfront office development in Burlingame, CA. The 803,000 square foot project on 18.13 acres was leased to Facebook in the fourth quarter of 2018 in one of the Peninsula’s largest-ever leases. Construction at Burlingame Point is well underway with completion expected in 2020.  

About Kylli
Kylli, Inc. was established in October 2013 in California, as a wholly-owned subsidiary of Genzon Investment Group Co., Ltd., Kylli carries an important mission to direct Genzon’s investment in the San Francisco Bay Area. Kylli focuses on investment, development and management of institutional quality assets in the United States. Additional Bay Area properties owned by Kylli include 225 Bush in San Francisco and Burlingame Point in Burlingame, which has been fully leased to Facebook. Genzon is a privately-held full service investment company headquartered in Shenzhen, China, with diverse expertise and experience in developing and managing a variety of building types, such as high-rise offices, technology campuses, residential projects, hotels, and golf resorts.

Media Contact
Adam Alberti
adam@singersf.com
(415) 227-9700

SOURCE Kylli, Inc.

Article source: https://www.prnewswire.com/news-releases/kylli-inc-taps-seasoned-bay-area-development-team-to-guide-vision-for-emerging-north-santa-clara-neighborhood-300797291.html