Posts Tagged ‘hayes valley’

Where Renting is Most Expensive in San Francisco

For those of us living in San Francisco, it’s no surprise the price of housing is a big concern both locally and nationwide. San Francisco in fact has been the country’s most expensive rental market (for one bedroom units) since August 2014 when our City by the Bay claimed the top spot over New York City.

Thanks to our friends at Trulia, here’s a breakdown of the San Francisco’s neighborhoods where rents are highest:

San Francisco Neighborhoods with the Most Expensive 1-Bedroom Rentals

#

Neighborhood

 % of 1-Bedrooms Renting for $3,000+

Median Rent

1

Fisherman’s Wharf

82.80%

$3,500

2

Mission

78.8%

$3,500

3

Pacific Heights

73.8 %

$3,600

4

Castro

71.9%

$3,500

5

Potrero Hill

71.7%

$3,600

6

Telegraph Hill

70.0%

$3,325

7

Mission Dolores

69.0%

$3,500

8

Cow Hollow

68.8%

$3,350

9

Hayes Valley

68.7%

$3,500

10 

Marina

68.3%

$3,348

 

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You may recall the story we published in September where we analyzed the financial question of Buying vs Renting and revealed this gem: Buying… is a better financial decision even if you could rent for free! Despite early indicators showing our local market could be leveling off, don’t expect prices to decrease unless we see an actual decrease in demand. 

 

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Meredith Martin is a Broker Associate at Paragon Real Estate Group and can be reached at Meredith@OpeningDoors.me

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Updated: New Condo Developments in San Francisco

 

 

 

 

For more information on any of the new condominium developments now selling or under construction, please contact me.

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Meredith Martin is a Broker Associate at Paragon Real Estate Group and can be reached at Meredith@OpeningDoors.me

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2014 San Francisco Real Estate is on the Rise…Literally!

City Limits Rise

City Limits Rise

In 2014, the San Francisco skyline will adapt to the high demands for housing. As the country’s top-ranked market construction pipeline, San Francisco has approved the addition of 43, 850 new residential units, many following the trend of micro-housing. For an expanded view, roughly only 35,000 units have been constructed in the city by the bay over the past 14 years. Supporting a thriving bay area economy, positioned by an increase in equity capital and a hot job market, San Francisco’s “sustained improvement in the underlying economic fundamentals” is not the key to its klout says Peter Walker of UrbanLand Institute.  Simple timing and the pace of interest rates are developer’s tickets to rising returns, announced by experts from Emerging Trends in Real Estate.

Foreign investors, institutional investors and private equity financing have flooded the housing market, issuing a “solid buy” stamp for all property types in the gold rush city. 13% of the US real estate market transactions between January and August 2013 were compliments of foreign flex dollars. Furthermore, the increases in available debt from insurance companies, mezzanine lenders and issuers of commercial mortgage-backed securities have the highest bidders snapping up major parcels in hot neighborhoods of South Beach, Mission Dolores and Hayes Valley.

Blanca Torres, reporter for the San Francisco Business Times shares her research. “California was among a handful of states particularly hard hit by the housing bubble, seeing home values decline by 45 percent statewide, according to an analysis by the American Action Forum, a center-right policy institute. San Francisco notably stands as one of the most improved hard-hit markets.”

The next Gold Rush?

The next Gold Rush?

Confidence is spawning as promises of positive results spread to secondary markets. With many developments scheduled to be completed by 2017, if experts are accurate, the keys to success of these billion

dollar developments are simply time and the federal government. Thus, the dawn of the new San Francisco horizon will fulfill its historical destiny of boom or bust!

The next BIG conversation surrounds the basic infrastructure of the city and how it plans to sustain the environmental impact of the additional residents. Stay tuned…

 

References:

http://urbanland.uli.org/economy-markets-trends/san-francisco-is-top-market-for-2014/

http://www.socketsite.com/archives/2013/01/the_43580_units_in_san_franciscos_housing_pipeline.html

 

Rita Roti is a broker associate / assistant manager at Zephyr Real Estate and can be reached at Rita@ritaroti.com.

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