homesmillbrae.com

In San Francisco, that demand was insatiable. The typical U.S. home sold for nearly $400,000, up 24.4% year-over-year. Meanwhile, in San Francisco, that price was $1.5 million.

But it wasn’t just the city proper — the whole Bay Area was in a frenzy. The median sales price of the nine-county region of Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma, was $1.3 million ($733 per square foot), according to Norada Real Estate Investments. That’s a 18.2% increase over last November and it was the highest year-over-year gain in California, according to the California Association of Realtors. Bay Area house prices were also up 2% from the previous month (October 2021).

Pushing these prices is record-low inventory across the country, Redfin data shows. There were just 1.38 million homes for sale in June, down 23% year-over-year, which was a historic low. Inventory was down in San Francisco again as well, though historically, inventory has always been tight in the seven-by-seven square mile city. 

Likely related to this scarcity, homes flew off the market in record time at record offer prices. Nationally, the average house sold in just 15 days, another historic marker as the lowest median days ever and down from 39 days in June 2020, the Redfin data showed. In San Francisco, homes sold on average in 16 days — and 72.9% of those homes sold above listing price.

This hot demand outpaces the record-breaking offer prices in the rest of the country: 56.5% of homes in the U.S. went for above list price in 2021, up 29.6% from 2020.

Across the country, demand for second homes almost doubled from before the pandemic, up 91% from pre-pandemic levels. In the Bay Area, that demand translated to record prices in places like Tahoe, Santa Cruz, and Hawaii. 

The desire for sanctuary put a premium on luxury homes. The median sale price of U.S. luxury homes jumped 26.5% to a price of $990,000 in the second quarter of 2021, which is yet another record in the U.S. In San Francisco, that trend is mirrored: a sharp increase in uber-expensive home sales that started in 2020 kept climbing through 2021. 

2022 probably won’t be much different. Even if interest rates go up, demand is unlikely to go down. “There’s a main trend from 2020 that continued through 2021 and I expect this trend to continue in 2022. That trend is the importance of home, regardless of the price point. Luxury, or not, more people are placing more value in their main residence than ever before,” said Alex Clark, Realtor and Founder of The FrontSteps Real Estate.

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. Follow Anna on Twitter: @AnnaMarieErwert.

Article source: https://www.sfgate.com/realestate/article/Record-breaking-2021-San-Francisco-real-estate-16746322.php

forbidden

Article source: https://oaklandnewsnow.com/real-estate-market-prediction-for-san-francisco-in-2022/

It is time to stop this nonsense. Bus transit is cheaper, more flexible, scalable, less disruptive and integrated into our communities. Let’s put our rail money into buses and have a lot more to show for it.

Daniel Levy, Oakland

GOP is becoming facist

Regarding “Political extremism is rising from both sides” (Letters, Jan. 4): Marianne Haas rather misses the point about rising fascism in our country.

The Democrats may hold the Senate, House and White House (for the moment; I personally hope after the November elections as well), but they are not using that power to suppress voting by opposition groups. Maybe they would if they could, but they aren’t.

Nor are they empowering apparatchiks to overturn voters’ will in certifying elections.

The Republican Party is.

And the Democratic Party is not making personal loyalty to one individual the test of party membership. The Republican Party is. Just ask Representative Liz Cheney of Wyoming.

The Democratic Party does not have armed groups swearing loyalty to President Biden. Mr. Trump does.

What do we call that?

Bruce Colman, San Francisco

Dog mauling is abuse

Regarding “Mauled driver sues San Ramon police” (Front Page, Jan. 3): The dog mauling incident is one of the most egregious cases of police misconduct I have ever heard of, and I hope Ali Badr receives millions in restitution.

It is telling that the San Ramon Police Department recommended to the district attorney that, in addition to felony auto theft, Badr be charge with resisting arrest. The department knew full-well it had overstepped its bounds and tried to cover it up. This is abuse of police power to the max.

Thomas Wood, Nicasio

Editorial is off kilter

Regarding “American Fascism on the Rise” (Insight, Jan. 2): After a promising start, The Chronicle’s editorial soon descended into a realm somewhere between platitudes and incoherence. Denouncing “leftist fashion” in the same breath with bemoaning the effort to recall the governor made zero sense.

Nor was there any logic to strongly implying that the left should be blamed for “debating whether to turn the clock back on recent social justice reforms that have barely had time to launch.”

Norman Solomon, Point Reyes Station

Don’t help Texas

Regarding “State requests federal help” (World-Nation, Jan. 2): Texas Gov. Greg Abbott, anti-vaxxer, anti-mask mandator, anti-social-distancing advocator, has the temerity to ask the federal government for help. The dire situation in Texas occurred because of his propaganda. Let Texas reap what it has sowed.

Adele Grunberg, Oakland

Immigration nightmare

Regarding “Asylum seeker’s 9-year wait for day in court” (Front Page, Jan. 3): I wish to commend Deepa Fernandes for yet another outstanding article. That someone would have to wait another three years for a court date just because the judge was sick on the original date is unimaginable.

Donna Vaughn, Alameda

Speculation is a thing of the past when one questions if Bay Area residents
relocated throughout the pandemic. In fact, the Wall Street Journal
published the findings of a

new report from University of California researchers

suggesting that the number of people moving into the San
Francisco metro area decreased by 45% when comparing March 2020 to
September 2021. Contrarily, the number of San Franciscans moving out of the area increased by 21% in that same
period. It appears that this trend is still ongoing, in fact. Many are
reportedly still looking to move to different cities in the next few years
due to sky-high housing costs and overall price of living. [SPONSORED]

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Check out San Francisco’s Best Moving Companies

Joint Venture’s 2021 Silicon Valley

poll

finds that 56% of respondents say that they are likely to leave the region
in the coming years with 76% identifying the cost of housing as the most
serious problem in the Bay Area. Others in the poll also included the cost
of living, homelessness and increasing frequency of wildfires and drought.

While the Bay Area has many perks from its abundance of tech jobs and being
an overall hub of food and culture, residents may be moving to cheaper
alternatives that provide the similar opportunities. Certainly, a large number of individuals who moved out of San Francisco relocated to elsewhere in Northern California, but according to an

article

by Marketwatch, there are certain cities outside of the state that may prove attractive to
people looking to leave but are accustomed to a certain lifestyle. Though
none perfectly emulate what the Bay Area has to offer, these are Marketwatch’s picks for five
cities that can replicate some of the Bay’s advantages and way of life.

What To Know About Moving To Knoxville, Tennessee

While it is not as large as Nashville or Memphis, Knoxville has a lot to
entertain its residents. Plenty of hills outside the cityscape allows for
tons of natural sightseeing and outdoor activities. A few minutes from
downtown’s Market Square–where many visit breweries or see the
Sunsphere–residents can venture to the Urban Wilderness, a 1,000-acre
wilderness area near the south waterfront. With all these attractions, the
city is still lacking in public transportation.

Typical home value on Zillow:

$285K (+26.6% from Nov 2020)

Typical home value on Redfin:

$278K (+19.5% from Dec 2020)

Cost of living:

14.5% lower than the U.S. average

The typical home values from Zillow and Redfin are from the end of
November or December but shift monthly. The cost of living is from
Sperling’s Best Places.

What To Know About Moving To Raleigh, North Carolina

As headquarters to tech corporations such as Cisco, IBM and
GlaxoSmithKline, Raleigh is also in contention for “Silicon Valley of the
East Coast.” However, it is also known as one of the

best college towns

in the nation due to being home to thousands of North Carolina State
University students. With that said, the nightlife is not one of the city’s
strengths. Residents who appreciate the culture and economy of the Bay but
prefer an otherwise small-town setting should look into Raleigh.

Typical home value on Zillow:

$396K (+28.8% from Nov 2020)

Typical home value on Redfin:

$390K (+22.3% from Dec 2020)

Cost of living:

2.3% higher than the U.S. average

What To Know About Moving To Boise, Idaho

Some are predicting Boise to be the next Silicon Valley due to its growing
economy. Although housing costs will rise once residents start moving
there, real estate is about one-third of the price in Boise compared to San
Francisco. The downside is that Boise is landlocked as opposed to the Bay
Peninsula, whose coastal economy greatly boosts the region. However, the
lack of ocean views is offset by plenty of trails, parks and hot springs.

Typical home value on Zillow: $519K (+35.6% in
Nov 2020)

Typical home value on Redfin:

$480K (+20% from Nov 2020)

Cost of living:

3.6% higher than the U.S. average

What To Know About Moving To Providence, Rhode Island

With eight colleges in the capital of Rhode Island, Providence is ranked
55th out of 150 ranked mid-size college towns according to a 2022 Wallethub

study

. In addition, Providence also has the one of the best culinary schools in
the nation in Johnson and Wales University and thus leads itself to a
diverse food scene. Its location also makes for an easy trip to Boston or
New York by ways of public transportation.

Typical home value on Zillow: $319K
(+18.5% from Nov 2020)

Typical home value on Redfin:

$355K (+18.3% from Dec 2020)

Cost of living:

5.1% higher than the U.S. average

What To Know About Moving To Minneapolis, Minnesota

For those who can handle the cold, Minneapolis has a lot to offer.
Minneapolis ranked third in Trust for Public Lands’ ParkScore ranking (San
Francisco ranked sixth). Much of that is because 98% of Minneapolis
residents live within a ten-minute walk of a park. Minnesota’s biggest city
is also a center of higher-end dining. In 2020, eight chefs and three
restaurants were named semifinalists for James Beard awards. Minneapolis is
also headquarters to Target, United Healthcare, Best Buy, 3M and General
Mills.

Typical home value on Zillow:

$321K (+5.7% from Nov 2020)

Typical home value on Redfin:

$312K (+5.8% from Dec 2020)

Cost of living:

6.5% higher than the U.S. average

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Article source: https://sfist.com/2022/01/03/moving-out-of-sf-has-accelerated-by-21-relocating-to-these-cities-in-2022-could-make-sense/

© Justin Sullivan/Getty Images

The Millennium Tower, 301 Mission St, San Francisco, California. 

After a year in which the beleaguered Millennium Tower in San Francisco underwent an unsuccessful “fix” that ended up exacerbating its sinking into the SoMa mud, a new plan is afoot for 2022.

But a Bay Area consulting engineer said in a letter to city supervisors that the structural fix itself is dubious. Supe Aaron Peskin has also been outspoken in his questioning of the goings-on at 301 Mission.

More Real Estate:

• SF’s most expensive unsold homes of 2021

• Former Raiders star selling Bay Area home for $2.9M

Top Stories on SFGATE:

• 49ers’ Kyle Shanahan scared by child who ran onto field 

• SF’s most ‘fancy lookin’ shop cat is now an internet celebrity

• Survivor of 2015 Berkeley balcony collapse dies

• ‘I want answers’: Missing Bay Area woman’s body found in Napa River

• Search called off for Tahoe skier who went missing on Christmas Day

• ‘We’ve lost Tom’: Fatal shark attack in Morro Bay devastates family and alarms surfers

Crime Courts: 

• Former Theranos CEO Holmes guilty of fraud and conspiracy

• High-speed chase ends with arrest. Body found in car.

• French bulldog puppy taken in violent SF robbery

• A doctor was charged with sexual assault. Calif.’s Medical Board didn’t suspend his license

• Bay Area news anchor arrested for suspected DUI after crash 

Politics:

• Willie Brown is not optimistic about ‘plagued’ SF’s political future

• Since Jan. 6, the pro-Trump internet has descended into infighting over money and followers

• Trump, Ivanka, Don Jr subpoenaed by NY attorney general

• Schumer: Senate to vote on filibuster change on voting bill

• Ashli Babbitt a martyr? Her past tells a more complex story

• Twitter permanently suspends Marjorie Taylor Greene’s account

Weather:

• Here’s when to expect rain in the SF Bay Area this week

• Here’s when the king tide will rise above SF seawalls on Monday

• Sierra snow in the forecast until Tuesday

• Map shows Calif. drought conditions after week’s storms

Food + Drink:

• Bay Area bakery shuts Colo. shops, partly cites ‘racist behavior’ 

• Legendary 100-year-old SF sweet shop to close permanently 

• The fast food chains the Bay Area doesn’t have yet (but wants to try)

Travel: 

• Thousands of flights canceled, delayed at start of workweek

• Tolls on seven Bay Area bridges rise to $7

• Routes: United, Delta make more cuts to regional route networks

History:

• A famed Bay Area daredevil died in a plane crash. Was it murder?

• Here’s what SF looked like 100 years ago

• A fortune, a widow and a castle in Lake Tahoe’s Emerald Bay

Culture:

• Inside the Bay Area’s cult-like obsession with Beanie Babies

• Do you recognize these Bay Area celebrities from their childhood photos?

• Does it pass the smell test? Disneyland rides ranked by their scents.

• Betty White had a crush on Robert Redford. He says it was mutual.

Coronavirus:

• How omicron is spreading in Calif. counties with different vaccination rates

• FDA expands Pfizer boosters for more teens as omicron surges

• Schools adapt for return from break as COVID cases surge

• Pentagon chief says he has tested positive for COVID 

• Congress’ doctor wants ‘maximal telework’ amid virus surge

Business:

• Autonomous car developers lobby to defang safety data regulations

• WH to offer $1B in aid for smaller meat-industry producers to combat rising prices

• BlackBerry’s classic smartphone stops working Tuesday

See more of today’s top headlines at SFGATE.com

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From The Shopping Team: Treat yourself (or others) with these mood-boosting gifts for the new year.

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Article source: https://www.msn.com/en-us/news/us/the-daily-01-03-22-the-sinking-millennium-tower-has-a-new-fix/ar-AASoOke