homesmillbrae.com

With “The Big Short” a hit in local cineplexes, people may once again be thinking about bubbles that can burst. But a new report from the CoreLogic real estate information service indicates continued strength in the housing market.

The service’s latest numbers show that home prices rose 6.1 percent nationwide between November 2014 and November 2015. And it predicts that prices will rise another 5.2 percent by November 2016. The data takes all homes into consideration: single family homes, townhouses and condominiums but does not include distressed sales.

In the San Francisco-Redwood City-South San Francisco area, CoreLogic charts a 15.7 percent year-over-year increase between November 2014 and November 2015. It puts the year-over-year increase at 8.6 percent in the San Jose-Sunnyvale-Santa Clara area, and at 9.7 percent in Oakland-Hayward-Berkeley.

A detailed report covering more parts of the Bay Area region will be released later this month.

The Bay Area’s tight inventory continues to put pressure on housing prices, which are unaffordable for many.

“Many factors, including strong demand and tight supply in many markets, are contributing to the long-sustained boom in prices and home equity, which is a very good thing for those owning homes,” said Anand Nallathambi, president and CEO of CoreLogic, in a written statement. “On the flip side, prices have outstripped incomes for several years in a number of regions so, as we enter 2016, affordability is becoming more of a constraint on sales in some markets.”

Contact Richard Scheinin at 408-920-5069, read his stories at www.mercurynews.com/richard-scheinin and follow him at Twitter.com/RealEstateRag.

Article source: http://www.mercurynews.com/business/ci_29347092/real-estate-continued-strength-housing-market

The couple also had a consensus on these facts: The house needed upgrades, but they were in no hurry to make them. “It was in move-in condition, but the colors and finishes were not our taste. There was a lot of baby blue in the house,” Eagle says. Both men thought it was important to live in the house a bit before making changes. For Fox, it was a case of practicing what he preaches. “I always tell clients that you really need to spend a season in a house before you start a remodel,” he says. “That way, you will know what you need to live in it.”

? With research under their belts, the first task was the kitchen. In this area, Fox drove the style and Eagle (the cook in the family) had a lot to say about the layout. At first, the couple looked at cabinet brands like Arclinea. They found that they loved the sleek style of the high end modernist offerings, but not the prices. In the end, they went with a company called Semihandmade, a Los Angeles outfit that crafts custom doors and drawer fronts for IKEA cabinets. “That decision saved us about 20 or 30 percent,” says Eagle.

? Walnut veneer cabinet fronts completely cover the IKEA interiors. They broke up the wood grain with panels and doors crafted with green-lacquer surfaces. “I thought the color was needed to break things up,” says Fox. “If we had all wood, it would be way too dark.”

? The countertops are tough and easy-to-maintain quartz, while the backsplash is a single slab of showy marble.

? “We didn’t take down a lot of walls,” says Eagle. “But we did want to open the kitchen to the dining room.” Now, there’s a peninsula where a wall once stood.

Having an open floor plan here is particularly helpful during the couple’s annual Thanksgiving celebration—an event that’s known to draw 30 or more people to their table. “It’s nice not to be in an enclosed kitchen when there are a lot of guests,” says Eagle.

? Another potential change is still being debated: painting the fireplace surround. “We knew we wanted to paint the walls a clean, gallery white,” says Fox. “But we couldn’t decide whether to paint the fireplace. The thing about that is once it’s painted, it’s painted—and it’s not easy to go back.”

? Turning a window in the master bedroom into doors was an easier decision. Before the couple purchased the house, they lived in a one-bedroom condo near Jack London Square. One of the reasons they wanted to move was that they wanted a lawn. “Replacing a window with the sliding doors allows us to access the yard,” says Fox.

? The yard is another example of the couple’s slow-and-steady remodeling philosophy. “We cleaned it up and looked at it for a year before we did anything,” says Fox. When they did act, they added a deck, a hot tub, and a satellite office with a Mad-Men era style. “The house is small, and we both occasionally work from home and spend a lot of time on the phone, so we really needed a separate office,” says Fox. “I wanted something that mirrored the midcentury style of the house, and I found a company called Backyard Eichlers that could give me that.”

? Fox choose a stained plywood paneling for the interior that makes the 120-square-foot structure look as if it was built during the same era as the house.

? While building the office, they worked hard to preserve an old olive tree, stopping the deck just short of the tree’s trunk. The maneuvering created an opportunity for a sunken dining area just outside the shed.

? The couple also applied the same done-over-time strategy for furnishing the house. “We’ve always liked the midcentury look, and we’ve been collecting furniture and art from that era for awhile,” says Fox. “We’ve bought a few pieces for this house, but not many.” He explains that they both favor a collected look rather than the sterile “instant interiors” look of all-new furniture.

? In the end, both men feel their design decisions was worth the wait. “We love the house,” says Eagle. “And we love it’s location. Oakland’s weather, restaurants, and people are wonderful.”

Click here to view the full photogallery.

Follow Curbed’s House Calls on Pinterest.

· Semihandmade [Official Site]
· Backyard Eichlers [Official Site]

Article source: http://sf.curbed.com/archives/2016/01/04/a_ranch_house_is_reborn_in_oaklands_montclair_district.php

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A luxurious pad for a super star. Photos: Bryant Kowalczyk/GPK

Image 1 of 20 – Hunter Pence’s Millennium Tower condo

A luxurious pad for a super star. Photos: Bryant Kowalczyk/GPK

A luxurious pad for a super star. Photos: Bryant Kowalczyk/GPK

Floorplan view. Photos: Bryant Kowalczyk/GPK

Image 2 of 20 – Hunter Pence’s Millennium Tower condo

Floorplan view. Photos: Bryant Kowalczyk/GPK

Floorplan view. Photos: Bryant Kowalczyk/GPK

View of the city is definitely million dollar. Or 4 million! Photos: Bryant Kowalczyk/GPK

Image 3 of 20 – Hunter Pence’s Millennium Tower condo

View of the city is definitely million dollar. Or 4 million! Photos: Bryant Kowalczyk/GPK

View of the city is definitely million dollar. Or 4 million! Photos: …Bryant Kowalczyk/GPK

More living room. Photos: Bryant Kowalczyk/GPK

Image 4 of 20 – Hunter Pence’s Millennium Tower condo

More living room. Photos: Bryant Kowalczyk/GPK

More living room. Photos: Bryant Kowalczyk/GPK

Additional sitting room. Photos: Bryant Kowalczyk/GPK

Image 5 of 20 – Hunter Pence’s Millennium Tower condo

Additional sitting room. Photos: Bryant Kowalczyk/GPK

Additional sitting room. Photos: Bryant Kowalczyk/GPK

That room from another angle. Photos: Bryant Kowalczyk/GPK

Image 6 of 20 – Hunter Pence’s Millennium Tower condo

That room from another angle. Photos: Bryant Kowalczyk/GPK

That room from another angle. Photos: Bryant Kowalczyk/GPK

The city view… Photos: Bryant Kowalczyk/GPK

Image 7 of 20 – Hunter Pence’s Millennium Tower condo

The city view… Photos: Bryant Kowalczyk/GPK

The city view… Photos: Bryant Kowalczyk/GPK

Kitchen. Photos: Bryant Kowalczyk/GPK

Image 8 of 20 – Hunter Pence’s Millennium Tower condo

Kitchen. Photos: Bryant Kowalczyk/GPK

Kitchen. Photos: Bryant Kowalczyk/GPK

Dining with glass walls. Photos: Bryant Kowalczyk/GPK

Image 9 of 20 – Hunter Pence’s Millennium Tower condo

Dining with glass walls. Photos: Bryant Kowalczyk/GPK

Dining with glass walls. Photos: Bryant Kowalczyk/GPK

one of two bedrooms. Photos: Bryant Kowalczyk/GPK

Image 10 of 20 – Hunter Pence’s Millennium Tower condo

one of two bedrooms. Photos: Bryant Kowalczyk/GPK

one of two bedrooms. Photos: Bryant Kowalczyk/GPK

One of three baths. Photos: Bryant Kowalczyk/GPK

Image 11 of 20 – Hunter Pence’s Millennium Tower condo

One of three baths. Photos: Bryant Kowalczyk/GPK

One of three baths. Photos: Bryant Kowalczyk/GPK

Other bedroom. Photos: Bryant Kowalczyk/GPK

Image 12 of 20 – Hunter Pence’s Millennium Tower condo

Other bedroom. Photos: Bryant Kowalczyk/GPK

Other bedroom. Photos: Bryant Kowalczyk/GPK

The Millennium Tower offers some serious amenities: here is the gym. Photos: Millennium Towers SF

Image 13 of 20 – Hunter Pence’s Millennium Tower condo

The Millennium Tower offers some serious amenities: here is the gym. Photos: Millennium Towers SF

The Millennium Tower offers some serious amenities: here is the gym….Photos: Millennium Towers SF

Luxe lobby. Photos: Millennium Towers SF

Image 14 of 20 – Hunter Pence’s Millennium Tower condo

Luxe lobby. Photos: Millennium Towers SF

Luxe lobby. Photos: Millennium Towers SF

Club level. Photos: Millennium Towers SF

Image 15 of 20 – Hunter Pence’s Millennium Tower condo

Club level. Photos: Millennium Towers SF

Club level. Photos: Millennium Towers SF

Wine storage- there is also a tasting room. Photos: Millennium Towers SF

Image 16 of 20 – Hunter Pence’s Millennium Tower condo

Wine storage- there is also a tasting room. Photos: Millennium Towers SF

Wine storage- there is also a tasting room. Photos: Millennium Towers…SF

Patio life. Photos: Millennium Towers SF

Image 17 of 20 – Hunter Pence’s Millennium Tower condo

Patio life. Photos: Millennium Towers SF

Patio life. Photos: Millennium Towers SF

Sunbathing. Photos: Millennium Towers SF

Image 18 of 20 – Hunter Pence’s Millennium Tower condo

Sunbathing. Photos: Millennium Towers SF

Sunbathing. Photos: Millennium Towers SF

Swimming. Photos: Millennium Towers SF

Image 19 of 20 – Hunter Pence’s Millennium Tower condo

Swimming. Photos: Millennium Towers SF

Swimming. Photos: Millennium Towers SF

Luxury fit for one of SF’s most beloved Giants. Photo: SFGate

Image 20 of 20 – Hunter Pence’s Millennium Tower condo

Luxury fit for one of SF’s most beloved Giants. Photo: SFGate

Luxury fit for one of SF’s most beloved Giants. Photo: SFGate

Hunter Pence is not only baseball savvy; he’s also real estate savvy. The Giants right fielder recently scored a two-bed, three-bath luxury condo in the coveted Millennium Tower at below asking price.  Listed originally at $4.495 by Bryant Kowalczyk of GPK, this 2,230 square foot unit with panoramic views closed in October 2015 at $4.25M.

The additional HOA fee of $1,934 a month buys some of the city’s most rarified amenities — amenities that make the Millennium Tower the luxury legend it is. As On the Block reported last year, the Tower’s 20,000-square-foot Owner’s Club Level “features a 5,500-square-foot gym (with weights, cardio, yoga and pilates studio), a theater, pool terrace, wine cellar and tasting room, private lounge, dining room, children’s playroom and outdoor terrace. The tower also houses RN74, a restaurant/wine bar by Michael Mina and Wine Director Rajat Parr.”

This condo is hardly Pence’s only real estate score. It’s not even his only Millenium Tower score. In January of last year, he made news for buying a $3.8M beachfront home in Newport Beach, also discounted from its original listing price. The year before, he bought a $1.65M one bedroom unit in the Millennium Tower from none other than Joe Montana, this too below asking.

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. FollowAnnaon Twitter: @AnnaMarieErwert

 

Article source: http://blog.sfgate.com/ontheblock/2016/01/04/san-francisco-giants-hunter-pence-buys-luxury-condo-in-millennium-tower/

In an odd way, UC Berkeley’s new Shyh Wang Hall — built to house supercomputers capable of handling as many as 2 quadrillion calculations per second each, whatever that means — resembles a mainframe computer itself. It’s a sleek metal cube that’s hard to disguise, smooth in front with odd connections coming out the back.

Article source: http://www.sfchronicle.com/bayarea/article/Hulking-UC-Berkeley-computer-lab-sits-awkwardly-6734443.php

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Article source: http://www.sfchronicle.com/bayarea/article/Super-Bowl-committee-raising-millions-with-6733188.php