homesmillbrae.com

With mass protests, demonstrations and arrests rocking the Bay Area today in what is turning out to be an epic day of unrest, there’s also likely to be tremendous fallout in an arena that impacts everyone, not just those of us carrying signs and shouting slogans. You guessed it. Traffic!

Since you already have a commute that drives you insane, here are some likely traffic snarls related to today’s rallies and demonstrations to beware of.  Plan ahead to avoid the nastiest traffic conditions and note that some bus service will also be impacted.

A series of demonstrations in Oakland will likely generate traffic woes. A morning protest at the Alameda County Sheriff’s Office has already resulted in arrests. Avoid Broadway if you can, at least until the afternoon when the action will shift to the Fruitvale district.

A larger demonstration will take place at 3 p.m. at the Fruitvale Plaza. Staying off International Blvd. between 2 and 6 p.m. may be a good call.

Organizers said longshoremen will also walk off the job, shutting down the Port of Oakland,  a major factor in traffic on the 880 corridor, which is a already a nightmare even on a good day. If you can lay your hands on one of those flying car prototypes, now might be a good time.

In San Francisco, protesters clad in red and white blocked access to the Immigration Customs Enforcement (ICE) office at Sansome St. early this morning. There will be a 11 a.m. rally at Justin Herman Plaza with a later march to Civic Center via Market Street, which means that traffic may well be heavy downtown throughout the day. Sidestep Market Street from now until 5 p.m. Bus service may also be interrupted.

In San Jose, there will be a 1 p.m. rally at Mexican Heritage Plaza at Alum Rock Avenue and King Road, and then a march to the SAP Center. Officials have set tow-away restrictions from 12:30 p.m. to 5:30 p.m. for parking along Santa Clara Street and Alum Rock Avenue from King Road to the SAP Center, according to the city’s Department of Transportation. Expect Santa Clara and Alum Rock to be blocked off mid-afternoon during the march.

Police will determine additional road closures as necessary depending on crowd size and other factors. A rolling closure of streets running north to south will also occur as the San Jose march progresses from the Mexican Heritage Plaza to the SAP Center, officials said.

If you are taking public transit, take note that bus service will be rerouted on Alum Rock Avenue and Santa Clara Street to McKee Road and East Julian Street, between King Road and Autumn Street, according to the Santa Clara Valley Transportation Authority.

Article source: http://www.mercurynews.com/2017/05/01/heres-where-may-day-traffic-will-snarl-in-the-bay-area-today/

Vallejo may be the last chance for relatively affordable housing in the Bay Area, and this could easily impact the local real estate market, experts say.

Besides home prices here being the lowest in the Bay Area, rents in Vallejo are also the regions’s lowest. They are also the area’s third fastest growing, a new real estate industry report shows.

“We at Zumper have just published our latest monthly Metro Report for the SF Bay Area,” Zumper’s Crystal Chen said. “The report covers 30 cities in the metro area to highlight the most/least expensive cities and cities with the fastest growing rents.”

After analyzing more than 15,000 active listings last month, Zumper officials found Vallejo the least expensive city in which to rent, with a median price for a one-bedroom unit at $1,300, she said.

“When sorted by two-bedroom prices, Vallejo is still the least expensive city to rent in the SF Bay Area metro,” Chen said. “And the data in this post is from Vallejo city, not the Vallejo-Fairfield metro.”

Chen attributes this to a number of factors, but the news may already be outdated, she said.

“With higher crime rates and less modern amenities than other Bay Area cities, Vallejo in the past few years has not had a huge migration of new residents into the city,” she said. “More recently, however, that seems to be changing.”

Local Realtor Curtis Lafferty, who’s also in the home rental business, said he’s seeing this reflected on the ground.

“Rents are rising so fast here, I’m having a hard time keeping up with it,” he said. “Inventory is very low, and that drives up desire and price.”

Lafferty said he has noticed a migration into town from more expensive surrounding cities.

“Most of our people that are paying high rents are coming from outside the area,” he said. “Most of the people who live and work in Vallejo can’t afford to rent here; they’re being priced out of the market. Landlords are increasing their rents and there are people lined up to pay it. Those priced out are moving to less expensive areas, outside the Bay Area.”

Solano Association of Realtors President Linda Daraskavich reports seeing the same phenomenon.

“More people are moving into Vallejo from places like San Mateo and Alameda, and forcing residents farther east,” she said.

Although Vallejo rent prices are down slightly on a month-over-month basis, the yearly growth numbers are another story, with one-bedroom costs up more than 10 percent and two-bedroom prices up more than 13 percent, the report shows.

“Similar to what happened in Oakland, there has been increased interest in living in Vallejo since so many people are being priced out of the other, more expensive Bay Area cities,” Chen said.

While Vallejo’s rents may be the cheapest in the Bay Area, they’re still high compared to the rest of the country, the report shows.

Vallejo’s median $1,300 one-bedroom rent, compares to a $1,164 national median, according to the report. The national median for two-bedroom units is $1,377, where in Vallejo they’re $1,460.

“So, while rental rates in the other Bay Area cities will most likely continue to stay expensive, more and more people will be looking at Vallejo for rentals, which will probably continue to drive up prices big picture wise, with the increased demand,” Chen said.

Zumper found the Bay Area’s most expensive rents are in San Francisco, where a one-bedroom will set you back about $3,320 per month.

Vallejo’s one-bedroom median is $340 below the state median, and Napa’s $1,460 median rent makes it the second cheapest city to rent in the Bay Area, the report found.

Rents are rising fastest in Concord, with a yearly growth rate of slightly more than 15.2 percent since last year, followed by South San Francisco’s 15.1 percent and with Vallejo’s 15 percent right behind, the report shows.

A full discussion can be found on https://www.zumper.com/blog/2017/04/sf-bay-area-metro-report-april-2017/.

Contact Rachel Raskin-Zrihen at (707) 553-6824.

Article source: http://www.eastbaytimes.com/2017/04/28/vallejo-rents-bay-areas-lowest-but-rising-fast/

SAN JOSE (CBS SF) — President Trump’s new tax plan could deal a heavy blow to some Bay Area homeowners, according to tax specialists.

The plan eliminates several itemized deductions, including those for property and state taxes which could add thousands to people’s annual tax bill.

Annette Nellen is a CPA and director of the graduate tax program at San Jose State University.

“That can be a big hit to individuals, especially in California,” confirmed Nellen. “We’re a high-tax state and property taxes are high too.”

Nellen said other aspects of the Trump plan might make up for those losses in some cases.

She explained that a couple with a combined income of $150,000 and a $600,000 mortgage might actually see their overall taxes go down.

“He does talk about doubling the standard deduction. For a married couple, that would mean going from about $13,000 to $26,000,” said Nellen. “There’s a good chance for a lot of people who make between $60,000 to $150,000 that their itemized deductions are less than that.”

But several taxpayers KPIX 5 talked to are not happy to be losing the popular property tax deduction.

Dean Sherrell lives in Hercules and is about to open a small coffee shop in downtown San Jose. He says that deduction is most needed in California.

“We’re in an abnormal area,” said Sherrell. “California is a different beast so making one broad spectrum change in tax code doesn’t fit for us or maybe places like New York where real estate prices are completely different from the rest of the country.”

Trump’s plan would still allow itemized deductions for mortgage interest and charitable contributions and it would have three tax brackets of 10, 25 and 35 percent. However, it is still not known what the brackets income levels would be.

Article source: http://sanfrancisco.cbslocal.com/2017/04/26/trump-tax-plan-could-hit-bay-area-homeowners-hard/

http://www.realtor.com/news/trends/hottest-markets-real-estate-march-2017/

Cicely Wedgeworth, realtor.com

Updated 7:50 am, Friday, March 31, 2017

• 

• div {
  background: none !important;
  }
  .OUTBRAIN {
  padding: 0 !important;
  border-top: 0;
  }
  .ui-page .article-body .OUTBRAIN,
  .ui-page .article-body .OUTBRAIN > div {
  background: #EEEEEE !important;
  }
  .ui-page .article-body .hst-resgalleryitem .OUTBRAIN,
  .ui-page .article-body .hst-resgalleryitem .OUTBRAIN > div {
  background: #000 !important;
  }
  ]]>’);
  var sct = document.getElementById(“HDN-OB-WIDGET-MARKUP”);
  sct.parentNode.removeChild(sct);
  })();

Caption

Close

Central Sunset is the ninth “most affordable” neighborhood in San Francisco.

Central Sunset for $950,000: This 1946 three-bedroom, two-bath at 1865 28th Ave. has been in the same family for over 60 years. Hardwood floors, original details and a large backyard with mature fruit trees. Listed by Susan McBride and Lisa Wolfe of Pacific Union

less

Central Sunset is the ninth “most affordable” neighborhood in San Francisco.

Central Sunset for $950,000: This 1946 three-bedroom, two-bath at 1865 28th Ave. has been in the same family for over 60 years.

… more

Photo: Open Homes Photography

Central Sunset for $950,000: This 1946 three-bedroom, two-bath at 1865 28th Ave. has been in the same family for over 60 years. Hardwood floors, original details and a large backyard with mature fruit trees.

… more

Photo: Open Homes Photography

Central Sunset for $950,000: This 1946 three-bedroom, two-bath at 1865 28th Ave. has been in the same family for over 60 years. Hardwood floors, original details and a large backyard with mature fruit trees.

… more

Photo: Open Homes Photography

Central Sunset for $950,000: This 1946 three-bedroom, two-bath at 1865 28th Ave. has been in the same family for over 60 years. Hardwood floors, original details and a large backyard with mature fruit trees.

… more

Photo: Open Homes Photography

Central Sunset for $950,000: This 1946 three-bedroom, two-bath at 1865 28th Ave. has been in the same family for over 60 years. Hardwood floors, original details and a large backyard with mature fruit trees.

… more

Photo: Open Homes Photography

Central Sunset for $950,000: This 1946 three-bedroom, two-bath at 1865 28th Ave. has been in the same family for over 60 years. Hardwood floors, original details and a large backyard with mature fruit trees.

… more

Photo: Open Homes Photography

Mission Terrace: Eight single family homes sold for under $1 million in the first half of 2016.

Inventory is currently very low in this increasingly popular neighborhood with home buyers. We weren’t able to find a home on the market to represent this neighborhood.

less

Mission Terrace: Eight single family homes sold for under $1 million in the first half of 2016.

Inventory is currently very low in this increasingly popular neighborhood with home buyers. We weren’t able to

… more

Photo: Google Maps

7) Bernal Heights: 13 single family homes sold for under $1 million in the first half of 2016.

7) Bernal Heights: 13 single family homes sold for under $1 million in the first half of 2016.

Photo: Google Maps

Bernal Heights for $799,000: This two-bedroom, one-bath cottage at 150 Ellert St. oozes charm. Bright and sunny with tasteful touches. Listed by Rachel Swann of Keller Williams; available beginning Sept. 22, 2016.

less

Bernal Heights for $799,000: This two-bedroom, one-bath cottage at 150 Ellert St. oozes charm. Bright and sunny with tasteful touches. Listed by Rachel Swann of Keller Williams; available beginning Sept. 22,

… more

Photo: Open Homes Photography

Bernal Heights for $799,000: This two-bedroom, one-bath cottage at 150 Ellert St. oozes charm. Bright and sunny with tasteful touches. Listed by Rachel Swann of Keller Williams; available beginning Sept. 22, 2016.

less

Bernal Heights for $799,000: This two-bedroom, one-bath cottage at 150 Ellert St. oozes charm. Bright and sunny with tasteful touches. Listed by Rachel Swann of Keller Williams; available beginning Sept. 22,

… more

Photo: Open Homes Photography

Bernal Heights for $799,000: This two-bedroom, one-bath cottage at 150 Ellert St. oozes charm. Bright and sunny with tasteful touches. Listed by Rachel Swann of Keller Williams; available beginning Sept. 22, 2016.

less

Bernal Heights for $799,000: This two-bedroom, one-bath cottage at 150 Ellert St. oozes charm. Bright and sunny with tasteful touches. Listed by Rachel Swann of Keller Williams; available beginning Sept. 22,

… more

Photo: Open Homes Photography

Bernal Heights for $799,000: This two-bedroom, one-bath cottage at 150 Ellert St. oozes charm. Bright and sunny with tasteful touches. Listed by Rachel Swann of Keller Williams; available beginning Sept. 22, 2016.

less

Bernal Heights for $799,000: This two-bedroom, one-bath cottage at 150 Ellert St. oozes charm. Bright and sunny with tasteful touches. Listed by Rachel Swann of Keller Williams; available beginning Sept. 22,

… more

Photo: Open Homes Photography

Bernal Heights for $799,000: This two-bedroom, one-bath cottage at 150 Ellert St. oozes charm. Bright and sunny with tasteful touches. Listed by Rachel Swann of Keller Williams; available beginning Sept. 22, 2016.

less

Bernal Heights for $799,000: This two-bedroom, one-bath cottage at 150 Ellert St. oozes charm. Bright and sunny with tasteful touches. Listed by Rachel Swann of Keller Williams; available beginning Sept. 22,

… more

Photo: Open Homes Photography

Bernal Heights for $799,000: This two-bedroom, one-bath cottage at 150 Ellert St. oozes charm. Bright and sunny with tasteful touches. Listed by Rachel Swann of Keller Williams; available beginning Sept. 22, 2016.

less

Bernal Heights for $799,000: This two-bedroom, one-bath cottage at 150 Ellert St. oozes charm. Bright and sunny with tasteful touches. Listed by Rachel Swann of Keller Williams; available beginning Sept. 22,

… more

Photo: Open Homes Photography

6) Visitacion Valley and Silver Terrace: 29 single family homes sold for under $1 million in the first half of 2016.

6) Visitacion Valley and Silver Terrace: 29 single family homes sold for under $1 million in the first half of 2016.

Photo: Google Maps

5) Outer Sunset and Parkside: 28 single family homes sold for under $1 million in the first half of 2016.

5) Outer Sunset and Parkside: 28 single family homes sold for under $1 million in the first half of 2016.

Photo: Google Maps

1) Excelsior and Portola: 51 single family homes sold for under $1 million in the first half of 2016.

1) Excelsior and Portola: 51 single family homes sold for under $1 million in the first half of 2016.

Photo: Google Maps

Portola/McLaren Park Terrace for $738,000: This is the first time this tidy two-bedroom, one-bath Mediterranean at 34 Dartmouth St. has been on the market in 54 years. Listed by Lorraine Meier of Zephyr

Portola/McLaren Park Terrace for $738,000: This is the first time this tidy two-bedroom, one-bath Mediterranean at 34 Dartmouth St. has been on the market in 54 years. Listed by Lorraine Meier of Zephyr

Photo: Rob Jordan

Portola/McLaren Park Terrace for $738,000: This is the first time this tidy two-bedroom, one-bath Mediterranean at 34 Dartmouth St. has been on the market in 54 years. Listed by Lorraine Meier of Zephyr

Portola/McLaren Park Terrace for $738,000: This is the first time this tidy two-bedroom, one-bath Mediterranean at 34 Dartmouth St. has been on the market in 54 years. Listed by Lorraine Meier of Zephyr

Photo: Rob Jordan

Portola/McLaren Park Terrace for $738,000: This is the first time this tidy two-bedroom, one-bath Mediterranean at 34 Dartmouth St. has been on the market in 54 years. Listed by Lorraine Meier of Zephyr

Portola/McLaren Park Terrace for $738,000: This is the first time this tidy two-bedroom, one-bath Mediterranean at 34 Dartmouth St. has been on the market in 54 years. Listed by Lorraine Meier of Zephyr

Photo: Rob Jordan

Portola/McLaren Park Terrace for $738,000: This is the first time this tidy two-bedroom, one-bath Mediterranean at 34 Dartmouth St. has been on the market in 54 years. Listed by Lorraine Meier of Zephyr

Portola/McLaren Park Terrace for $738,000: This is the first time this tidy two-bedroom, one-bath Mediterranean at 34 Dartmouth St. has been on the market in 54 years. Listed by Lorraine Meier of Zephyr

Photo: Rob Jordan

College students may be flocking to Cancun, Mexico, or Panama City Beach, FL, but a look at preliminary realtor.com® data for March makes it clear that there’s no spring break anywhere on the horizon for the real estate market.

Instead, the buying season’s annual spring jump-start came about a month earlier than usual, with homes expected to hop off the market 22 days faster than last month, or 69 days. That’s eight days faster than last year. And that’s a lot.

“Calendars might say this is the first week of spring, but we’re already right in the thick of the most frenzied spring home-buying season on record,” said Javier Vivas, manager of economic research at realtor.com.

Related Articles

• The First-Time Home Buyer’s Guide
• Millennial Magnets: The Top 10 Cities Where Young People Want to Be
• America’s Hottest Real Estate Markets for February 2017

With the ranks of would-be newbie buyers adding to those who have been frustrated in their search so far, for-sale housing inventory in the U.S. has dropped to record low levels.

March continues the sharp double-digit decline observed since October. And although total inventory has increased over last month, it remains substantially lower than one year ago. While nearly 492,000 new listings will enter the market in March, the added inventory continues to fall short of buyer demand.

“While the story keeps revolving around low inventory, prices are now also taking center stage, reaching all-time highs and keeping waves of buyers at bay,” Vivas said.

The median list price has pushed above $250,000, where it has hovered since May 2016. The median list price, now $260,000, is 8% higher than it was one year ago.

KTVU the 9

Media: MediaOS Video

The realtor.com economic data team analyzed our data for the country’s largest metropolitan markets to find those where buyers are clicking up a storm on our listings and where homes are speeding off the market like they’re late for a flight to the islands. These markets may seem like a tough nut to crack for buyers, but homes there are likely to be a good investment.

Maintaining its perch atop the ranking for the second month in a row is the San Francisco Bay Area city of Vallejo, followed by San Francisco itself. Mind you, when we talk about these metropolitan markets, they typically include other satellite cities—the San Francisco market encompasses Oakland and Hayward, and No. 3 Dallas includes Fort Worth and Arlington.

New to the top 20 in March were Santa Cruz, CA; Fort Wayne, IN; and Grand Rapids and Ann Arbor in Michigan. Let’s check out the rest!

The hot list

This article “America’s 20 Hottest Real Estate Markets in March 2017” appeared on Real Estate News and Advice from realtor.com.

Article source: http://www.sfgate.com/realestate/article/Hottest-Northern-California-real-estate-markets-11039365.php

SAN FRANCISCO (CBS SF) — The number of Bay Area homes sold in March hit a five-year high, with the region’s median sales price creeping up towards last summer’s all-time high, according to real estate research firm CoreLogic.

The number of new and existing homes and condominiums sold in the nine-county region was 7,287 in March, up 51.5 percent from February and 4.4 percent over March 2016, according to CoreLogic.

The median price for all homes sold in the Bay Area in March was $709,000, up 9.1 percent from last March and just 0.1 percent below the all-time high of $710,000.

Although, adjusting for inflation, the March median was about 11 percent below the June 2006 peak.

• ALSO READ: $2.5 Million Teardown In Palo Alto Sells For Well Over Asking Price

“A February-to-March spike in home sales is a seasonal norm, but this year’s nearly 52 percent jump was among the highest on record,” CoreLogic research analyst Andrew LePage said in a written statement Thursday.  “Job growth and the stock market run-up this year are among the factors that have stoked sales.”

“It’s unclear whether heavy rains might have delayed some winter activity, resulting in more deals that closed in March,” LePage said.

It’s also possible that more people jumped into the housing market in expectation of mortgage rates continuing to rise, according to LePage.

Alameda County saw heavy sales activity in March, with a 10.6 percent increase over the same month last year. Santa Clara County saw a year-over-year increase of nearly 10 percent.

The median home price in Santa Clara County was $988,500, up 8.4 percent from last March. In Alameda County, the price hit a median of $730,000, up 13.7 percent from March 2016, according to CoreLogic.

San Francisco saw decreased sales, with March numbers dropping 5.3 percent from last year and the median price hitting $1.1 million, a 4.3 percent drop.

“Looking ahead, affordability will be a major factor for Bay Area home shoppers,” LePage said. “If current trends hold, the region’s media sale price could easily surpass the current record … during this spring or summer.”

© Copyright 2017 by CBS San Francisco and Bay City News Service. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Article source: http://sanfrancisco.cbslocal.com/2017/04/28/bay-area-median-home-price-approaches-all-time-high/