San Francisco looks at subsidized housing to stem teacher shortages

SAN FRANCISCO – As the days get shorter, first grade teacher Esmeralda Jimnez watches the dimming afternoon sky outside her classroom window the way her pupils watch the clock at dismissal time.

The studio apartment Jimnez rents for $1,783 a month, or 43 percent of her salary, is located in one of San Francisco’s sketchiest neighborhoods. Getting home involves running a gauntlet of feces-strewn sidewalks, popping crack pipes, discarded needles and menacing comments — daily irritants that become more daunting after dark.

“If I lived in a better area, I wouldn’t feel so scared going home and I would be able to stay at school a little longer,” Jimnez, 26, said. “You have so many things to do to prep for the next day, but it’s gotten to the point where even if I leave at a decent time I will walk three blocks out of my way to avoid some streets.”

It’s a scenario that has Jimnez wondering if she should find a profession that pays more, and public officials here and in other cities looking at housing as a tool to prevent the exodus of young educators like her.

Inspired by the success in the heart of the Silicon Valley of a 70-unit teachers-only apartment complex, school districts in high cost-of-living areas and rural communities that have long struggled to staff classrooms are considering buying or building rent-subsidized apartments as a way to attract and retain teachers amid concerns of a looming shortage.

Housing costs especially have become a point of friction for teachers in expensive cities such as Seattle, where teachers who went on a one-week strike in September said they could not afford to live in the same city as the children they teach.

In San Francisco, where many of Jimnez’s colleagues have roommates or long commutes, addressing the affordability crisis for teachers was one of the main selling points of a housing bond voters approved in November, the first to pass in a generation.

About $35 million of the $310 million to be raised has been earmarked for construction of up to 100 new apartments on surplus land owned by the San Francisco Unified School District. The units would be rented at below-market rates to the district’s 3,500 teachers and 1,600 classroom aides, who also would be eligible for new rental housing allowances and home down payment loans aimed at reducing living costs for another 300 educators, Deputy Superintendent Nyong Leigh said.

“Each one of these ideas would reach some modest number, but in aggregate it would hopefully make a difference,” Leigh said.

Officials in the Roaring Fork School District in western Colorado, which serves three mountain towns in the valley that houses Aspen’s posh ski resorts, similarly leveraged a $122 million school construction bond on the November ballot to secure $15 million for subsidized teacher rentals.

The district hopes to acquire 15 to 20 apartments in each of the three towns, enough to house at least 10 percent of its 450 teachers, Assistant Superintendent Shannon Pelland said. In an area where the average home sells for $630,000 and the average teacher makes $47,000, housing costs are “without a doubt the number one reason we lose teachers and it’s the number one reason people turn down jobs,” Pelland said.

“Our typical pattern with teachers is they come to the valley, it’s an absolutely beautiful place, it’s a great lifestyle with wonderful recreational opportunities, and they are willing to live with roommates and do whatever they have to do to make it work for four or five years,” she said. “And right at that 5-year mark we see a lot of them saying, ‘This is great for a while, but I’ll never be able to afford a home here or make it work here, I’m moving on.“’

School districts in Oakland, Milwaukee, Odessa, Texas, and Ashville, North Carolina, also have apartment projects for teachers in the works. The Los Angeles Unified School District this year opened its first apartment complex on school grounds for district employees and has two more under construction.

Stockton Williams, executive director of the Urban Land Institute’s Terwilliger Center for Housing, said the concern over teachers being priced out of the communities they serve reflects an inadequate supply of new rental housing designed for middle-income workers instead of the high end of the market.

“It’s not just a San Francisco-New York-Seattle story. It’s in many cities, large and small, and in most parts of the country,” Williams said.

Officials in Santa Clara found a workable formula more than a decade ago that other school districts in the San Francisco Bay Area and beyond still are trying to replicate. Working with a private developer under a tax-exempt financing scheme, the school district built 70 apartments between 2002 and 2009 that collectively are known as Casa del Maestros, Spanish for “house of the teachers.”

When kindergarten teacher Katy Howser moved into a one-bedroom apartment there 6 1 / 2 years ago, she was a 23-year-old living with her parents while she paid off her student college loans and credit card debt. The teachers-only complex was all she could afford, but having other educators as neighbors turned out to be more than a financial advantage.

“Everyone has the same common courtesy for each other,” Howser said. “There are technically quiet hours, but it’s not ever really loud. Everyone just wants to come home and be quiet because we have to be loud all day.”

Now married and expecting her first child, Howser and her husband pay $1,700 a month for a two-bedroom apartment, at least $1,000 less than for a comparable place in the area. They will have to move out in June because tenants can only stay for seven years. Howser hopes they will have saved enough for a down payment on a house by then.

“The fact that our district sees enough value us in teachers to make a way for us to be here says a lot,” Howser said. “It tends to be a relatively thankless job, and if you can’t afford to live, you can’t afford to stay.”

Article source: http://www.ocregister.com/articles/teachers-698250-school-district.html

Posted in SF Bay Area News | Tagged | Leave a comment

Sound Off: Biggest real estate surprise of 2015?

  • f1fc9 920x920 Sound Off: Biggest real estate surprise of 2015?

Caption

Close




A: Most people express astonishment at the steep rise in Bay Area home prices. We’re more surprised people perceive this as an extraordinary event. This is the center of the universe for the technology that we all carry in our pockets and our purses. Bay Area innovation allows us to call, e-mail, text, post, tweet, search and play from almost anywhere at any time.


We take these devices for granted as if they were a wallet or car keys. The power of immediate access to information and people is breathtaking. Our clients come to San Francisco and Silicon Valley from all over the world with new ideas for creating the future. They have money to invest and dreams of raising their families in the Bay Area. They are all, for the most part, very well-educated, highly motivated and handsomely compensated.

With high demand and the available inventory historically low, the effect on home prices is natural. The average price per square foot in Palo Alto is now beyond $1,500 with average list price surging toward $3 million. In Hong Kong, it’s $4,000 per square foot.

No wonder the buyers who come here from overseas see our area as a bargain. With the huge imbalance in supply and demand, we can look forward to more of the same in 2016.

Michael Hall, Pacific Union Real Estate, (650) 465-1651, michael.hall@

pacunion.com; Tricia Soliz, Pacific Union Real Estate, (650) 833-9442, tricia.soliz@pacunion.com

A: The most surprising thing about the market this year is the prices that homes continue to fetch, paired with the amount of buyers competing for houses. Even in the downturn, the Bay Area was a multiple-offer market. But now instead of offers being over by orders of $10,000, it’s hundreds of thousands of dollars above asking for the most desirable homes.

I’ve had several experiences of discussing homes with buyers and telling them although the homes were listed at $1.2 million, they were likely to go for $1.8 million. It’s shocking to people.

BART walkability seems to be a huge factor in determining the level of interest for a house, and therefore its final price. There have always been buyers who prefer the urban vibe and being able to walk to BART, food, movies and bookstores. But in the past few years, this has exploded as more people emigrate from San Francisco because of better values in the Oakland/Berkeley area.

Areas once marginal are gaining in value and changing as new and more prosperous owners move in. For example, West Oakland now commands high prices with multiple offers.

Another surprise this year is that because of the urgency about walkability, houses in the hills are not commanding the same kind of frenzy. I hear less about needing a view, so there may be good buys up there.

Zanna Knight, Coldwell Banker, (510) 459-7198, zanna@zannaknight.com

A: The explosive growth of high-tech jobs in the Bay Area and the increasing financial risk we face with this is the biggest surprise in this year’s Bay Area real estate market.

Since 2009, high tech has created 30 percent of all new jobs in the Bay Area.

This has come at the expense of non-tech jobs in finance and insurance and heightens our exposure to being primarily dependent on the tech industry for our job growth.

Of the 126 public high tech companies (excluding Apple and Google) in the Bay Area, 69 companies (55 percent) have not made a profit this year.

What happens to the home buying market if the Bay Area tech industry shrinks?

Just as Houston’s economy is primarily dependent on the oil industry, the Bay Area’s growing dependency on high tech could impact our continued economic growth and demand for housing.

Michael Thompson,

Sotheby’s International Realty,

(510) 220-2598, michael.thompson@sothebysrealty.com

Article source: http://www.sfgate.com/realestate/article/Sound-Off-Biggest-real-estate-surprise-of-2015-6731070.php

Posted in SF Bay Area News | Tagged | Leave a comment

Eliminating tips brings unintended consequences in Bay Area

837ff 920x1240 Eliminating tips brings unintended consequences in Bay Area

Michael Mauschbaugh, chef-owner of Sous Beurre Kitchen, has long despised tipping. The standard service model, he said, creates huge discrepancies between the wages that servers and cooks make, for one. “Customers feel like they have a right to reward or discipline my employee,” he added. “That should be my job.”

Article source: http://www.sfchronicle.com/food/article/Eliminating-tips-brings-unintended-consequences-6731265.php

Posted in SF Bay Area News | Tagged | Leave a comment

The most anticipated Bay Area restaurant openings in 2016

As you were browsing http://www.bizjournals.com something about your browser made us think you were a bot. There are a few reasons this might happen:

  • You’re a power user moving through this website with super-human speed.
  • You’ve disabled JavaScript in your web browser.
  • A third-party browser plugin, such as Ghostery or NoScript, is preventing JavaScript from running. Additional information is available in this support article.

To request an unblock, please fill out the form below and we will review it as soon as possible.

You reached this page when attempting to access http://www.bizjournals.com/sanfrancisco/blog/real-estate/2015/12/anticipated-sf-bay-area-restaurant-openings-2016.html from 208.79.238.69 on 2015-12-31 12:39:41 GMT.
Trace: 9001FC9C-AFBB-11E5-9D09-9EBDDA3131CE via 93422e00-f2c8-4e63-84d3-c4b70dc8ea87

Article source: http://www.bizjournals.com/sanfrancisco/blog/real-estate/2015/12/anticipated-sf-bay-area-restaurant-openings-2016.html

Posted in SF Bay Area News | Tagged | Leave a comment

The Hottest U.S. Housing Markets in December 2015

6:00 am ET
December 28, 2015December 28, 2015

0ef07 san francisco hottest market dec 15 The Hottest U.S. Housing Markets in December 2015

Leonardo Patrizi/iStock

Even if you don’t celebrate Christmas, Hanukkah, Kwanza, or Festivus, the holidays seem to really take over the month of December: With long lines everywhere, office parties, decorations, and random elf sightings, everything else practically grinds to a halt. It’s typically not the best time to find a new job, start a diet, or—especially—buy or sell a home.

Just as we’d expected, the residential real estate market cooled down a bit in the last month of 2015, with reduced demand and inventory in most major markets—though not as much of a slowdown as the same time last year, according to a preliminary analysis of the month’s data on realtor.com®.

Please, Mr. Postman

Send me news, tips, and promos from realtor.com® and Move.

The median list price in December, $228,000, is down from November, although just by 1%. That’s actually an increase of 9% from December of last year.

Listing inventory is expected to trend down 7% for the month, compared with November. Homes are taking longer to sell as markets prepare for the new year, but they’re still moving faster than this time last year. The median age of inventory—the amount of time that homes sit on the market—is now 93 days, which is up 11% from November but still down 7% year over year.

Jonathan Smoke, chief economist of realtor.com, and his team carried out the data analysis and identified the top 20 medium-to-large markets where homes are moving fastest and interest (based on listing views on realtor.com) is highest. At the top of the list, for the second month in a row, is San Francisco, followed by its sister Bay Area city San Jose.

“While California closed out our latest ranking still firmly in control of the hottest markets, the Midwest and Florida are both seeing substantial improvement,” said  Smoke. “Pent-up demand and robust economic growth combined with limited supply will keep California tight in 2016, but more markets will challenge them as demand improves elsewhere.”

A few markets are new to the hot list this month: Tampa, FL; Fort Wayne, IN; and Midland, TX.

These markets typically represent a greater metro area, since people might work in a city but reside in a nearby suburb. For example, San Francisco also includes Oakland and Hayward; San Jose includes Sunnyvale and Santa Clara.

On the whole, the hottest markets receive about 1.4 to 2.9 times the number of views per listing compared with the national average. Their homes move off market 29 to 51 days more quickly than the rest of the U.S., and they have also seen days on market drop by a combined average of 15% year over year.

The hot list

  1. San Francisco, CA
  2. San Jose, CA
  3. Vallejo, CA
  4. Dallas, TX
  5. Sacramento, CA
  6. San Diego, CA
  7. Denver, CO
  8. Santa Rosa, CA
  9. Yuba City, CA
  10. Stockton, CA
  11. Los Angeles, CA
  12. Oxnard, CA
  13. Nashville, TN
  14. Palm Bay, FL
  15. Modesto, CA
  16. Detroit, MI
  17. Boulder, CO
  18. Tampa, FL
  19. Fort Wayne, IN
  20. Midland, TX

Article source: http://www.realtor.com/news/trends/the-hottest-u-s-markets-in-december-2015/

Posted in SF Bay Area News | Tagged | Leave a comment