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SAN FRANCISCO HEADLINES
THE MIDDLE HEATS UP: February 2016 figures showed particular strength in the single family home sector. Specifically, the middle one-third of the market ($1.1MM - $1.6MM) experienced nearly double the level of appreciation, as compared to the top- and bottom-third of the market. The middle also saw the lowest Days on Market (13 days), and the highest sale-to-list price ratio (117%). MORE SF STATISTICS

The national economy continues to show signs of strength, with recent reports showing better-than-expected gains in private sector employment. Furthermore, recent gains in oil prices helped global equity shares hit a two-month high. European and Asian equities rose on anticipation of further monetary easing in Europe, and stimulus measures in China. San Francisco Fed President John Williams stated that the U.S. economy is weathering difficulties in international markets, and that there is no tangible risk of a recession. In light of recent positive reports on the economy, it is expected that the Fed will resume their course of rate hikes this year.     
COMMUNITY
SF Didn't Leave Affordable Units "On the Table"

Did San Francisco miss an opportunity to add hundreds if not thousands of affordable units by not increasing its inclusionary requirements earlier? It’s hard to find a factual basis for such a conclusion. In fact, it is more likely true that the city maximized its affordable housing during this period. CONTINUE READING ON BEYOND CHRON...

Planning Commission questions site eligibility for Affordable Housing Bonus Program

...The program would establish The City’s first permanent source of middle-income housing. Of the 30 percent below-market-rate housing included in exchange for taller or denser buildings, 18 percent would be affordable to moderate- or middle-income households, and 12 percent would be designated for the low-income bracket. CONTINUE READING ON EXAMINER...

City Planners Fend Off Anger About Proposed I-280 Demolition

...The Railyard Alternatives and I-280 Boulevard Feasibility Study is mostly about finding room on the city’s street grid for various incoming railway projects, including high-speed rail and a new, electrified CaltrainCONTINUE READING ON CURBED...
DEVELOPMENT PIPELINE
Exemption for 46-Unit Potrero Hill Development Secured

...And last week, San Francisco’s Planning Department granted the proposed 98 Pennsylvania Avenue project an Eastern Neighborhoods Plan-based exemption from having to complete a detailed Environmental Impact Report (EIR), clearing the way for the development to break ground on the Western side of I-280 CONTINUE READING ON SOCKETSITE...
Variances for High-End Hayes Valley Development on Tap This Week

As proposed, a high-end, eight-unit development designed by Edmonds + Lee will rise up to five stories on the Hayes Valley parking lot parcel at 311 Grove Street, with an inner courtyard between the two four-unit buildings which will front both Grove and Ivy Streets. CONTINUE READING ON SOCKETSITE...
Hayes Valley Rising at Franklin and Oak

Having just been granted a neighborhood plan-based exemption from having to complete a more extensive environmental review, the plans for razing the former Franklin Auto Body Shop and parking lot at 22- 24 Franklin Street and constructing an eight-story building upon the Hayes Valley site are poised to be approved by San Francisco’s Planning Commission next week. CONTINUE READING ON SOCKETSITE...
SELLING/LEASING
 
Classic Victorian Building in Western Addition Asks $4.15M

Unlike the row of Painted Ladies on Steiner Street along Alamo Square, the two-flat Victorian home around the corner at 809- 811 Pierce Street isn't famous. But we'd argue that the details of this Queen Anne are just as charming.  CONTINUE READING ON CURBED...
Car-Free, Micro-Unit Building Set to Open on Hayes Valley Freeway Plot

...Construction has finished on Parcel F at 388 Fulton Street (corner of Gough), and now 69 new units are primed to be put on the market. The six-story residential development is just two blocks from City Hall, with a close-up view of the dome from the rooftop, and two blocks from the Hayes Street dining corridor. The building also boasts a (wait for it) "Feng Shui-compliant" entry courtyard, according to architect David BakerCONTINUE READING ON CURBED...
MONEY
Benchmark Mortgage Rate Nearing Three-Year Low

The average rate for a benchmark 30-year loan dropped to 3.62 percent over the past week and is within 3 basis points (0.03) of its lowest rate since mid-2013 as concerns about a global slowdown and market weakness continue to drive the 10-year Treasury yield down. CONTINUE READING ON SOCKETSITE...
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