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The real estate glory days have returned to San Francisco.

The median price for a home in the city is back at the $1 million mark, according to the SFGate.com real estate blog On the Block.

It appears that the data from April reveals a median price increase of 32 percent from 2012, according to the Business Journal. That’s higher than the average list price of $799,000, which means “too many buyers [are] vying for too few properties,” the blog reported.

Supply and demand means that a home that sold at auction in 1998 for $106,500 in Twin Peaks is now listed for $995,000, the blog reported.

In general, sellers are getting 112 percent of their asking prices for San Francisco homes, according to Redfin.

A seller’s market — but could it get any hotter?

Yes. Another home, bought in November 2012 for $875,000, is back on the market, less than a year later — for an asking price of $1.2 million. Will it sell for a 100 percent profit? It could — which is saying something.

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Article source: http://www.nbcbayarea.com/news/local/SF-Median-Home-Price-Tops-1-Million-211448041.html

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It’s a great Recession to be a property owner. For now at least.

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Article source: http://www.nbcbayarea.com/news/local/San-Francisco-Real-Estate-Value-Grows-by-6-Billion-163918026.html

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UPDATE: Evan Flanary, phone his mother to let her know he is safe and staying with a friend. He had turned off his phone.

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Police are looking for a missing San Francisco man who was last seen Tuesday in the South of Market district, according to reports.

Evan Flanary, 22, was last seen on his way to meet a “stranger from a social phone app contact,” according to his family.

He is 6-foot 1, 160 lbs, has blonde hair and blue eyes, and was last seen wearing blue jeans and a gray hooded sweatshirt, according to the San Francisco Appeal online newspaper.

Flanary has no history of medical or psychological conditions and was not on any form of medication, the newspaper reported.

His family is asking for any and all help from the community.

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Article source: http://www.nbcbayarea.com/news/local/Police-Seeking-Missing-San-Francisco-Man-Last-Seen-in-SOMA-160317475.html

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Technology firms are the economic engine of the Bay Area. But so are real estate and restaurants, which would be asked to pay more taxes under a plan pushed by technology companies and investors.

San Francisco’s tax plan is due to be overhauled, and one way to do it is to institute a gross receipts tax instead of a payroll tax. Tech firms and investors like Ron Conway, a Silicon Valley billionaire, like that plan because tech firms spend much more on payroll than they do on sales of products, according to the San Francisco Examiner.

Tech firms pushed a gross receipts tax “hard” during a meeting at City Hall with Mayor Ed Lee and Board of Supervisors President David Chiu, according to reports.

San Francisco-based companies currently pay a 1.5 percent tax on their payrolls, the newspaper reported. Twitter, however, convinced city leaders to write laws allowing for a special payroll tax exemption zone, and Zynga also convinced the city to write an exception on taxation of stock option compensation.

If the payroll tax is replaced with a gross receipts tax, retail, restaurants and real estate would pay almost double the tax currently paid, the newspaper reported. They’d pay 26 percent of the total tax revenue, compared to 16 percent now, the newspaper reported.

The payroll tax currently brings in $400 million a year, the newspaper reported.

“The tech companies don’t seem to be team players,” small-business advocate Scott Hauge told the newspaper.

Any final language on taxation issues will be fleshed out by June, when city leaders would have to make moves to place a change in the tax structure before voters in November.

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Article source: http://www.nbcbayarea.com/news/local/SF-Tech-Firms-Want-Retail-Real-Estate-To-Bear-Tax-Burden-149547085.html