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Blog Archives: May 2017

Benchmark Mortgage Rate Back Below 4 Percent

May 30, 2017
May 25, 2017 The average rate for a benchmark 30-year mortgage has dropped to 3.95 percent, the lowest average rate this year and 35 basis points below the 4.30 percent rate in place prior to the Fed’s second rate hike in March. At the same time, the benchmark rate remains 31 basis points above the 3.64 percent rate in place at the same time last year and 54 basis points above last year’s 3.41 percent low, according to Freddie Mac’s Primary Mortgage Market Survey data. And according to an analysis of the futures market, the ...

The ‘T’ House in Noe Valley asks $12.5 million

May 22, 2017
BY BROCK KEELING MAY 16, 2017, 10:47AM PDT Photos by Brent Haywood Photography, courtesy of Steve Wu, Pacific Union This neighborhood up on 24th Street, nestled in the hills above San Francisco, gets a bad rap. Noe Valley, while not the chicest of neighborhoods, is one of the city’s most bucolic. White picket fences. Charming boutiques. Strollers galore. It’s where many a former hipster plants roots to start a family. And where better to start than inside this bonkers home high on the hill overlooking the city, ...

Planning’s Retooled Approach to Residential Projects in RH Districts – The Large Home Program

May 15, 2017
Planning’s Retooled Approach to Residential Projects in RH Districts – The Large Home Program Last week, the Planning Department unveiled its revamped approach to residential expansions and new ground-up construction in the RH zoning districts: the Large Home Application. The name of the program is derived from the Eastern Neighborhoods’ primary entitlement document, the Large Project Authorization, and the concept is also similar. For most projects in RH districts creating units over a certain threshold, (1) a Planning Commission hearing ...

Peer Review Engineer From Millennium Tower Project Says He Did Not Consider Transbay Center Impacts

May 05, 2017
BY JAY BARMANN IN NEWS ON MAY 1, 2017 Photo: Allan Ferguson At a Board of Supervisors committee hearing Friday, one of the engineers tasked with reviewing the foundation of the now sinking Millennium Tower when it was in the design and construction process testified that he and his colleague did not factor in the possible impacts of the excavation and construction happening on the adjacent Transbay Transit Center — something that the developer, Millennium Partners, has repeatedly tried to blame for causing the ...

Short-Term Rental Legislation Given 'Teeth' After Airbnb, HomeAway Settle Lawsuit Against City

May 05, 2017
  Fair to Share Rally, 2014. | Photo: Kevin Krejci/Flickr Earlier today, City Attorney Dennis Herrera announced that Airbnb and HomeAway have settled with the city of San Francisco in a federal lawsuit. As part of the settlement, hosts with the two companies will now be required to be registered with the city. The paper reports that "within six months, Airbnb and HomeAway will require all new hosts to be registered with San Francisco before they can post a rental listing on either site." The two companies had ...

San Francisco and other tech meccas recovered from recession, most of U.S. didn’t

May 05, 2017
BY ADAM BRINKLOW MAY 3, 2017 telesniuk Most of America’s larges cities haven’t recovered the majority of their lost home value since the Great Recession, according to real estate site Trulia. But San Francisco roared back gangbusters style, and a look at the other cities riding big recoveries tells us why. In a report titled “The Housing Recovery That Wasn’t,” Trulia economist Ralph McLaughlin argues that although general U.S. home values are now well above what they were prior to 2009, it hasn’t translated to most ...