Home prices posted their biggest annual increase in seven years in March, according to analytics firm CoreLogic.
Home prices jumped 10.5 percent year over year in March compared to a year earlier, and rose 1.9 percent from February, marking the 13th consecutive monthly increase, according to the CoreLogic Home Price Index (HPI). Excluding distressed sales, prices leaped 10.7 percent year over year and 2.4 percent on a monthly basis, the HPI found.
“Much of the price increases we are seeing are the result of rising demand among investors and homebuyers for a still-limited supply of homes for sale,” said Anand Nallathambi, president and CEO of CoreLogic.
CoreLogic expects home prices including distressed sales to increase by 9.6 percent on an annual basis and 1.3 percent month over month in April. Excluding distressed sales, the predicted April price increase rises significantly: those prices should jump 12 percent from a year before and 2.7 percent month over month, according to the CoreLogic Pending HPI. Source: CoreLogic
New York commands some of the highest prices in the world for its real estate, but is a relative bargain compared to other alpha cities when it comes to upfront costs, the Wall Street Journal reported.
A new report seen by the Journal compares the cost of buying and selling a $15.26 million property in four top cities – New York, London, Hong Kong and Singapore. Wealthy international buyers have pushed prices for luxury properties up in all four cities, but the cost of purchasing and the amount paid in taxes varies widely.
In Hong Kong, for example, an overseas buyer will pay nearly 25 percent of the $15.26 million purchase price, about $3.75 million, in fees and taxes. Meanwhile in New York, a buyer would pay only $217,890 in fees and taxes for a similarly-priced apartment, the report – created by real estate brokerage Savills, Deutsche Bank and London-based developer Candy & Candy – shows.
Since 1999, The Grove restaurant, with its warm, woodsy interior and comfort food, has marketed itself as “San Francisco’s living room.” Its customers, who have a habit of lingering for hours, seem to agree.
The Grove acquired such a following over the past decade that its owners have opened three more locations around the city. But they recently announced that they’ll be closing the Chestnut Street location because of untenable rents — driven up, in large part, because of the well-paid techies who chow down on its huevos rancheros every day.
This year, the landlords raised the annual rent to $246,816, or roughly $20,000 a month, for the 1,500 square foot ground floor space. That is 50 percent higher than what The Grove’s owners paid five years ago. They said the only way they could possibly keep pace would be to drastically raise prices.
The Grove’s owners are looking for alternative locations in more affordable neighborhoods — if those still exist. But back on Chestnut Street last Friday morning, most of their patrons seemed oblivious to the impending closure.
The San Francisco Board of Supervisors is famous for passing legislation that sounds sweeping and significant, but really does nothing. Tuesday’s example was a unanimous vote proclaiming 2013 the Year of the Child in San Francisco. It seemed a bit ironic considering San Francisco is plagued by family flight and counts just 13.5 percent of its residents as younger than 18, the smallest percentage of children of any city in the country, according to the 2010 census.
Read more here: http://blog.sfgate.com/cityinsider/2013/04/21/s-f-names-2013-year-of-the-child-despite-having-so-few-of-them/?fb_action_ids=10151526881188904&fb_action_types=og.recommends&fb_source=other_multiline&action_object_map=&action_type_map=[%22og.recommends%22]&action_ref_map=
Sophisticated Dog Patch Loft/Condominium
Gorgeous light filled and spacious tri-level VIEW loft on the TOP FLOOR in great Dog Patch location! This lovely condominium features a main level with open floorplan – spacious kitchen, with adjacent dining area and oversized living room. Soaring ceilings, skylights and wall of windows with views to the downtown San Francisco skyline! This home is flooded with natural light. Updated kitchen with stainless steel appliances, granite counters, maple cabinets and slate tile floor. A gas fireplace in the living room and a powder room complete this level. Upstairs is a mezzanine lofted bedroom with a full bath and large closets. On the lowest level is the incredibly large master suite with a gas fireplace, a spacious laundry room, and great closets and storage spaces. One car deeded parking, on site fitness center and common roof deck. Easy access to 101/280 as well as to MUNI light rail and CalTrain make this a great location to commute south or to Downtown. Very Walk-Able (per walkscore.com) with new shops, restaurants and amenities coming to the neighborhood all the time. 1099 23rd Street is a well run building and Homeowners Association with excellent building reserves.
- Spacious and Light Filled VIEW Loft
- Top Floor Unit
- Great Dog Patch Location
- 1725 sq ft (per tax records)
- Multiple Skylights
- 1 Car Deeded Parking
- HOA Dues – $617 per month