About San Francisco's Pacific Heights

2011 December Blogging Challenge-Day 16 - Change is in the Air

Change is good; change is exciting. And change is happening.

Three years ago I changed real estate offices. I love being part of Today Sotheby's International Realty in San Carlos, and won't change that.

Three months ago I changed residences. After living in the same house in the White Oaks area of San Carlos, and happily raising two families there, it was time. Gene and I are loving our new life in a high rise condo in the heart of San Francisco.

Yesterday I applied for a secondary board membership, with the San Francisco Association of Realtors. I also renewed my membership for 2012 with the San Mateo County Association of Realtors, my home base and where my business focus will continue to grow and flourish.

Today I'm continuing my steps to grow my business in 2012 with a new niche, serving empty-nesters and baby boomers who are interested in making the switch from suburban living to city living. Who knows this demographic better than I? Who can sell the lifestyle of my area of town with more joy and passion?

Change is good, and change is in the air.

Luxury homes in popular Pacific Heights, Marina, and Cow Hollow neighborhoods are moving with many homes receiving multiple offers or selling over the asking price.

It appears that the basic economics of demand and supply are causing San Francisco prices of single family homes and condominiums to rise. Employment prospects continue to improve, with San Francisco Unemployment down to 8.8% in March 2011, after being well over 10% during the height of the Great Recession. This is still well below California’s average 12% unemployment and the 14.7% high California reached in 1940 during the country’s Great Depression. Some areas in California have unemployment rates over 25%. Technology jobs seem to account for most of San Francisco’s job growth, as companies like Zynga and Twitter increasing their local workforces.

As the economy improves and company profits rise, employees may be less concerned about layoffs. A rising stock market that raises savings, may also be giving buyers a feeling of increased security.

After record office space downsizing by large corporate tenants, the San Francisco office market is rebounding with the expansion of technology companies. Planned expansions at Twitter and Zynga, as well as new start-ups are helping improve the city’s employment. There are predictions that the technology sector could expand to the peak levels we saw during the 2000 Internet Bubble.

Couple increasing demand with lower supply and you get upwards pressure on prices. Supply is down by almost 50%, with single family home inventory down from highs of over 4 months to 2.3 months in March 2011.

San Francisco’s Golden Gate Yacht Club is hosting the 34th Americas Cup match September 7-22, 2013 as Oracle Racing attempts to defend the coveted title against challenger Club Nautico di Roma’s Mascalzone Latino. While sailing may not be the best spectator sport, the proposed race course should be seen from San Francisco’s northern waterfront between the Golden Gate Bridge and the Bay Bridge. Many view homes in San Francisco’s Marina, Pacific Heights, Nob Hill, Russian Hill, Telegraph Hill and Downtown waterfront neighborhoods will benefit from having north facing views of the San Francisco Bay.

Want a 2 Bedroom condo with a view? There are 40 for sale with north bay views – ranging from $396,000 in the Financial District (710 sq. ft. – no parking but close to public transit) to $3,550,000 on Russian Hill (you can get 2,603 sq. ft. for $2,850,000 on Telegraph Hill). This one bedroom is a perfect Pied-a-Terre – check out the view!

If you want a single family home with a view, you have a choice of 14 homes ranging in price from $1,295,000 (c.1884 Telegraph Hill) to $45,000,000 (Pacific Heights). Expect to pay over $900 a square foot. The Telegraph Hill remodeled cottage is part of San Francisco’s early history of 19th century homes that survived the 1906 earthquake & fire. The home is surrounded by the lush foliage of the Filbert Steps and Grace Marchant Garden, home to and the wild parrots of Telegraph Hill.

New Stamps help Green America

The US Postal Service has released a new “green” stamp featuring cartoon drawings of simple actions we can take to conserve energy and improve the environment every day. The pane of 16 forever stamps sells for $7.04 (forever stamps are sold at the prevailing postage rate but are always equal in value to the current First-Class Mail one-ounce rate, so you pay 44¢ per stamp now and won’t have to add extra postage when the rate goes up!)

Award-winning animator Eli Noyes helped the Postal Service create the series of colorful individual scenes in a playful style illustrating the simple things we can do to make a difference. The stamps are sending the message that there are small changes we can make daily, and these simple things can save energy to help the environment.

The stamps are labeled: GO GREEN reduce our environmental footprint step by step. Here’s the list of things we should be doing daily:

• Buy local produce and reuse bags
• Fix water leaks
• Share Rides
• Turn off lights not in use
• Choose to walk
• Compost Let nature do the work (shows picture of clothes drying in the sun)
• Recycle more
• Ride a bike
• Plant trees
• Insulate the home
• Use public transportation
• Use efficient light bulbs
• Adjust the thermostat
• Maintain tire pressure

https://shop.usps.com/wcsstore/PostalStore/upload/htm/gogreen/?langId=-1&storeId=10052&storeId=10052&catalogId=10001&krypto=1sl2igLXZGXgkmSxfyF5jaSci8zZMgnnrFDpXimBtbOCwCFQG0HTAoCReTXOflZUKzX6Ay10p64%3D&ddkey=https:CategoryDisplay

Home Prices Continue to Rise - San Francisco housing market recovery is underway

Luxury homes in popular Pacific Heights, Marina, and Cow Hollow neighborhoods are moving with many homes receiving multiple offers or selling over the asking price.

It appears that the basic economics of demand and supply are causing San Francisco prices of single family homes and condominiums to rise. Employment prospects continue to improve, with San Francisco Unemployment down to 8.8% in March 2011, after being well over 10% during the height of the Great Recession. This is still well below California’s average 12% unemployment and the 14.7% high California reached in 1940 during the country’s Great Depression. Some areas in California have unemployment rates over 25%. Technology jobs seem to account for most of San Francisco’s job growth, as companies like Zynga and Twitter increasing their local workforces.

As the economy improves and company profits rise, employees may be less concerned about layoffs. A rising stock market that raises savings, may also be giving buyers a feeling of increased security.

After record office space downsizing by large corporate tenants, the San Francisco office market is rebounding with the expansion of technology companies. Planned expansions at Twitter and Zynga, as well as new start-ups are helping improve the city’s employment. There are predictions that the technology sector could expand to the peak levels we saw during the 2000 Internet Bubble.

Couple increasing demand with lower supply and you get upwards pressure on prices. Supply is down by almost 50%, with single family home inventory down from highs of over 4 months to 2.3 months in March 2011.

Earthquake Fault Maps online - no active faults in San Francisco

Earthquake fault zone maps are now available online from the California Geological Survey. The maps only show regions with active faults.

The site is organized by quadrangles. Since San Francisco has no active faults, there is no quadrangle for San Francisco, but many other areas are included.

If you decide to sell a home in a designated earthquake fault zone, sellers must disclose the earthquake zone to potential buyers. To determine if your home is in a fault zone, you can search for your address online at http://www.quake.ca.gov/gmaps/ap/ap_maps.htm

Real Estate agents cover this earthquake fault requirement by providing buyers with a customized disclosure report for the specific address. These reports are available for about $100-$150 from Property ID or JCP, and in addition to earthquake faults, they cover things like landslides and habitats.

John Parrish, California's state geologist and head of the California Geological Survey encourages people to look at the maps. He says “California is earthquake country. If people are purchasing property, they need to know whether they’re in an earthquake fault zone.”