San Francisco Community & Development Update

Below is a quick synopsis of recent community activity and development in San Francisco. 

Community

Residents protest Ellis Act evictions of mid-Market building

A group of artists and musicians living in an 84-unit building on Market Street are going toe-to-toe with their landlord after being handed notices of what they say is the largest Ellis Act eviction in San Francisco history for their live-work units late last month.

Supervisor Peskin Introduces Idea for Building ADUs Citywide

Last week at the full Board, District 3 Supervisor Peskin announced legislation to allow for the construction of new accessory dwelling units (ADUs), aka in-law units, throughout San Francisco. At the hearing, he referred to building new in-law homes as a “pragmatic infill strategy” that could potentially add up to 40,000 new homes throughout the City.

San Francisco Planning Takes Lead in Modernizing Environmental Review for New Development Projects

For decades, environmental analysis of transportation impacts focused on how quickly cars moved through a given intersection, a flawed approach that was expensive to calculate, did little to benefit the environment and promoted urban sprawl rather than smart infill growth. The new approach is more comprehensive, looking at the method of travel, how far the person is going, and how many other people are in the vehicle to determine the impact on the environment.

Development

New rendering shows building that will replace Flax Art & Design

Solomon Cordwell Buenz Architecture is behind the new design, which incorporates more of a natural, textured element to the facade. The building is still slated to be a nine-story, 162-unit structure with subterranean parking, along with 4,500 square feet of ground-floor retail space.

Canton Seafood Condos Closer to Reality

The plans for razing the two-story Canton Seafood & Dim Sum restaurant at 655 Folsom Street and constructing a modern 14-story building, with 89 condos over 2,300 feet of commercial space and an underground garage for 36 cars with its entrance on Hawthorne, have just been granted an Eastern Neighborhoods based exception from having to complete an Environmental Impact Report (EIR).

Ground Breaks On Condos, Restaurant At Former Pagoda Theatre

...construction officially began this week on the Palace at Washington Square, a condo building with ground-floor restaurant space that will occupy the former Pagoda Theatre site at 1731 Powell Street, near Columbus Ave.

Transbay Joint Powers Authority Approves $160 Million Cash Offer Pre-entitlements

Generally zoned for 750 feet, Parcel F is the last remaining site available for development of a super-tall building in downtown San Francisco and the final parcel that can directly connect to the Transbay Transit Center Rooftop Park via a pedestrian sky bridge. F4 proposes to construct a tower on Parcel F containing 200-300 hotel rooms, 200 residential units, and 250,000-425,000- square-feet of office.

New Condos Proposed for Big Bubble Site

The Cow Hollow parcel upon which the two-story Big Bubble Laundromat sits at 2525 Van Ness Avenue, adjacent to Amero, is zoned for development up to 65-feet in height. And having recently acquired the site, a Vancouver-based developer, the Executive Group, is working on plans for a seven-story building to rise. The proposed 65-foot building includes 27 condos over 1,500 square feet of café/retail space fronting Van Ness Avenue and an underground garage for 27 cars. 

Tenant Buyout Clears the Way to Raise the Roof on Mission

With Anna’s Linens on Mission having closed, and the master tenant from which Anna’s had been subleasing having been paid to forfeit the remaining 30 years on their 99-year lease, plans to renovate the existing 12,000-square-foot structure and add four floors of residential units above are in the works. 

Checking In On Octavia's Planned Micro-Unit Apartments

It's been over a year since we covered plans for Parcels M and N, two narrow Octavia Boulevard-adjacent lots where two micro-unit apartment buildings are in the works. Despite the lack of visible progress, the project is still trucking along behind the scenes. Architect Douglas Burnham from envelopeA+D, which is handling the development, gave us an update.

For the complete list of related articles, click here.

San Francisco Residential Development Report | October 2015

GET ALL THE INFO AND DATA IN THIS DEVELOPMENT NEWSLETTER INCLUDING:

News & Highlights, Market Performance, Currently Selling, Sold Out and ReSale, Upcoming Developments, and the Pipeline Summary.

THE REPORT

Fall San Francisco Real Estate Market Performs

The number of closings in October increased by nearly 40 percent versus the prior month, while total dollar volume increased by over 50 percent. The majority of properties (74 percent) sold in under 30 days and received 12 percent over the list price, on average. Tech Sector performance continues to fuel the steadfast demand. As an example, it is estimated that Bay Area venture capital funding is up approximately 25 percent year-to-date. Stock Markets have also made strides, with Reuters reporting that “The gains on the first trading day of the month followed the best monthly performance of the major indexes in four years in October.” The prospect of a December rate hike remains a possibility.

MEDIAN SALE PRICE

OCTOBER 2015 MEDIAN

CONDO/TIC | $1,100,000 | + 10% year-over-year

Single Family | $1,300,000 | + 9% year-over-year

MEDIAN NEIGBHORHOOD VALUES

Please Contact Franck Costa & Sara Werner Costa of The Costa Group, for your next home purchase or sale in San Francisco or Marin County.

San Francisco and Marin County Real Estate | Top 1% of Realtors | Award Winning |  415.730.2604 | costagroup@vanguardsf.com

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Thinking of Remodeling Your Kitchen? Check Out These Gorgeous Kitchen Pics and Tips!

Get inspiration from beautiful state-of-the art kitchens from all over the world.  

Do you think the kitchen sells the home?

Alno AG

Ceramic Is the New Granite: Tips From the World’s Coolest Kitchens

Hey, want a new kitchen? Maybe a better question would be: Who doesn’t? The kitchen is one of the two most popular rooms to renovate, and quite possibly the star attraction for most buyers looking at a home. After all, It’s a place to make food, share food, socialize (while eating food), and spend time with family (no food necessary!). Bottom line: You’re likely to spend a disproportionate slice of your time in this part of your home. So why not make it great?

And as with any remodel, there are endless style possibilities, which basically means opportunities to agonize over the renovation road not taken. Quartz or granite countertops? Knock down that wall or improve it? Stainless-steel appliances or ones that look like wood cabinets?

Well, we’re not going to make any decisions for you—sorry!—but for ideas and inspiration, we turned to Manel Gutierrez, author of “150 Best New Kitchens.” For his new book, Gutierrez curated a selection of the most exciting kitchen designs from around the world, and we’ve presented some of those highlights here. Enjoy!

Mixed materials shine in an airy space - Snaidero

Don’t just open up your kitchen, integrate it

Yes, everyone knows that an open-plan living area is brighter and airier, but somehow the kitchen always ends up looking like … a kitchen. But it doesn’t have to be that way! Pick appliances with finishes that mimic cabinets, and show off your shelves with objects and books, just like you would in your living room.

Gutierrez says the design solutions he profiles in his book aren’t just focused on the kitchen—they also “seek to achieve an aesthetic unity” with the living and dining areas.

“The best results are truly original, beautiful, and, above all, very practical.”

Shelves in the kitchen are used as they would be in a living room—to show off objects - LEICHT Küchen AG

Eye-catching ash wood connects the kitchen with the rest of the living space - LEICHT Küchen AG

Play with materials

Gutierrez says one of the main trends he noticed was the wider-than-ever variety of materials being used in kitchens today. Ceramic, stone, glass, and lacquer are taking their place alongside stainless steel. And best of all, designers are mixing and matching them with abandon.

“The more different the materials, the more interesting and intense the resulting combination,” he writes. While concrete is “the preferred construction material for modern architecture,” ceramic is an up-and-comer that’s both attractive and resistant—it’s even been used in space exploration. Hey, if it’s good enough for the astronauts, it’s good enough for your kitchen.

But it’s nice to know that traditional materials haven’t lost their luster either. The all-time favorite? Good ol’ wood.

This kitchen is made of concrete and Canadian pine reclaimed from packing crates - Guillerme Morelli

This kitchen makes use of stainless steel, ceramic and wood - Alno AG

Go all white—or all black!

“White has many benefits: it looks harmonious and creates a sense of cleanliness,” Gutierrez writes. “Combined with red it is unbeatable.”

In fact, the monochromatic look always makes a strong design statement, whether it’s light or dark. The use of dark-stained wood adds a natural touch to this hypermodern black kitchen/dining room.

A dramatic black kitchen gets a touch of warmth from natural—but also dark—wood - LEICHT Küchen AG

Use switch hitters

Unless you’re lucky enough to have a palatial kitchen, everything in the space had better pull its weight—and then some. These features do double duty:

This kitchen’s island doubles as a work surface and a dining table - Alno AG

The stove has a ventilation plate rather than a hood, which also works as a shelf - Lube

The most important part is what you don’t see

In general, storage is like the Spanx of modern kitchen design—when it’s good, you don’t know it’s there, but it makes everything sleeker, tighter, and more put together. Top-notch storage design makes use of those odd corners and makes even gigantic gadgets such as that Vitamix blender disappear.

That said, you can make strategic exceptions—and make a design statement.

Clever cabinet accessories optimize storage space - Ernestomeda

Kitchen utensils are kept accessible in an attractive way - Cesar Arredamenti

To check out more stunning kitchens and design advice, click the image below to sample Gutierrez’s book, or buy a copy.

“150 Best New Kitchen Ideas” by Manel Gutiérrez - Harper Collins

Reposted from Realtor.com.  By Cicely Wedgeworth, she covers real estate, economic news, and home improvement at realtor.com.

The Costa Group are members of the National, California and San Francisco Association of Realtors specializing in San Francisco and Marin County, California real estate representation.  

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Franck & I pulled some strings this week, worked our contacts.... and got our client's gorgeous listing into the famous and ever-popular Curbed SF Real Estate blog before we welcome offers smile emoticon yipeee! Many thanks to my marketing director Erika for helping my vision become a reality. I ♡ marketing, having awesome wing people, and working as a team to get results for our valued clients! Stoked! Happy Halloweeeeeen!!!!!! Xo, The Costa Group

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POST on sf.curbed by Tracy Elsen

Mill Valley Film Festival: Get Your Tickets!

Sarah Silverman as Laney in 'I Smile Back.' (Broad Green Pictures) ( Broad Green )

The Mill Valley Film Festival first began in 1978, in support of independent and foreign filmmakers with a mission to expose films about education and art.  This is the 28th year of the Festival which features an enormous amount of work, over 200 films and begins on October 8th.  Actor Carey Mulligan, Meryl Streep and Directors, Tom Hooper and Catherine Harwicke are some of the luminaries featured this year.

You can preview the seasons most exciting films before the Academy Awards season is upon us. Running for 11 days the festival is not as hyped as Sundance and so has a more relaxed atmosphere.  Many attendees take advantage of the nearby hiking in the Tennessee Valley.

Sarah Silverman will be in attendance for her film "I Smile Back" about a woman battling mental illness and on Oct. 11th, Sir Ian McKellen will be at the the Christopher B. Smith Rafael Film Center, to accept a Lifetime Achievement tribute. Other featured actors are Cate Blanchett and Rooney Mara in the 50's era romance "The Price of Salt" and Meryl Streep in "Suffragette".

Several of the films have Bay area connections like "Dogtown Redemption", a film about 3 people who make a living off recylcling and a few films have already won prizes at Cannes.  Check out the line-up, it's stellar and enjoy the festival!

When:  October 8- 18t

Where: CineArts@Sequoia, 25 Throckmorton Ave., Mill Valley; Christopher B. Smith Rafael Film Center, 1118 Fourth St., San Rafael and other venues

Cost: $15 unless otherwise noted

Tickets and additional info: www.mvff.com or 877-874-683

Boutique Brokerage Sets the Standard in Real Estate Office Design

SAN FRANCISCO – September 22, 2015 – Always at the forefront, Vanguard Properties is once again setting the standard for Bay Area Real Estate with the unveiling of its newly reinvented office at 555 Castro Street in San Francisco. Known for its fresh and exciting approach to buying and selling homes, the boutique firm’s redesigned space is a dramatic departure from traditional Real Estate workspaces. It reflects Vanguard's innovative thinking and collaborative team approach that have made it one of the most successful and influential brokerages in Northern California.

“Our company culture has always been about great style matched with open communication, sharing information and supporting one another’s success,” said Vanguard Properties CEO, James Nunemacher. “Our offices epitomize these values.”

Creative Director Mitch Laufer and Rohan, Wallace & Aherne contractors have created a friendly and welcoming environment for clients, visitors and agents. The interior features an open floor plan, multiple conference rooms and meeting spaces, and an outdoor sun deck. A recycled white glass reception desk and a suspended steel and American white oak staircase lead to California Space Organizer workstations equipped with Herman Miller chairs. 3-D recycled paper wall tiles by Inhabit, Saarinen conference tables, Shade Store NY window treatments, and lighting fixtures by Sonneman, Excel and Kartell highlight the multi-level space. Downstairs, the intimate lounge is an informal gathering place to meet with clients.

Established in 1986, Vanguard Properties is a market leader in buying, selling, and leasing Real Estate. With more that 300 licensed agents in its 10 offices throughout San Francisco, Marin and Sonoma counties, and Palm Springs, it is highly regarded for its distinctive design and marketing of homes. More information is available at www.vanguardproperties.com.

Infographic: 12 facts about millennial homebuyers. Do you Agree?

Like all generations, the experiences millennials had in childhood and while in college have influenced their home buying decisions. Here are 12 facts about millennial homebuyers that are unique to this demographic. Are you a Millenial home buyer?  Do you agree?

Embedded from The Propcy Blog

Helpful Household Hints: How to Fix a Leaky Faucet

Small repairs in a home can be challenging though if you are prepared and willing, many small repairs can be handled by you, without calling in a professional.  

                            Photo: Craig Raine

1. Fix a Leaky Faucet

This particular type of water torture is likely due to a failed washer inside a handle. The faucet is just the messenger. 

HOW:
To replace the washer, turn off the water supply valve under the sink. Stuff a rag in the drain so you don't lose parts, then take the handle apart. Pop the screw cover on top, remove the screw, and pull off the handle. Use a wrench to disassemble the stem, and line the parts up on the counter in the order they came off, so you know how it goes back together. Examine rubber parts or plastic cartridges for cracks, and take the offending piece to the hardware store for an exact replacement. Reassemble the parts you've laid out, in reverse. Then revel in the ensuing peace and quiet. 

For more detailed diagrams, check out Fixing a Leaky Faucet

Post courtesy of ThisOldHouse.com

Marin County Market Update | The Costa Group

September 2015

Marin Market Update

A look at how the international economy, mortgage rates, the moods of today's buyers and sellers and local market issues affect Marin Real Estate.

Well, we made it through summer vacations, got everyone back to school, and are ourselves now getting back into the work groove.  For those watching the real estate market, we can safely declare that the Fall selling season is upon us. Sellers who’ve been waiting until after Labor Day are poised to put their properties on the market and we expect plenty of increased inventory for Marin County in the coming weeks. Buyers, start your engines!

This past summer 887 homes sold in Marin from June through August as compared with 939 last year. August prices for Marin real estate ranged from $110,250 to $2,175,000 for condominiums –  and $390,000 to $47,500,000 (a record setting estate in Belvedere) for single family homes, with a median single family home sale price of $1,085,000 (compared with $960,000 last August).

Who exactly is buying in Marin these days? The spectrum is broad: young families priced out of San Francisco; downsizers who are tired of caring for their large homes; upsizers who are realizing they can get a good price for their current home and find a larger home for their growing family, and; investors who are also looking to cash in on fixers or buyers who are eager to invest in a project. We’re living in a very prosperous time in a very prosperous area. The Bay Area is a global wealth center and that means demand for housing will not be slowing down anytime soon.

The current real estate market is complex. Many are wondering: how long mortgage rates will stay low? Will housing prices start to stabilize or even drop? When will all this happen?  The stock market has been volatile. There are questions about the global economy and how that will affect Marin County. Some would-be cash buyers, especially at the higher end, will likely wait and see what happens. But, for many who are thinking about a home purchase with financing, now is a great time to buy.

Sellers, too, need to be aware of the myriad of changing market conditions.

Most economists were predicting the Federal Reserve would start raising rates this fall as the economy shows signs of improvement, but are now talking about a continued easing policy. In other words, low rates should stick around longer.

Low mortgage rates increase affordability. The lower the rates are, the more buyers are willing to spend on a house. Low mortgage rates also drive investors into the housing market since they can leverage their money and earn positive cash flow on rent. Bottom line: low mortgage rates stimulate high housing valuations.

The August jobs report showed unemployment rate falling to a seven year low. With this news, the Fed may announce on September 17 it will begin moving interest rates higher. The only thing that would hold it back is uncertainty about the global economy and the U.S. market volatility. Even so, many believe if there is a rate hike it would be only a quarter percent. The impact to Marin real estate? It might possibly create a sense of urgency with the sellers who feel that any increase in interest rates could mean less buying power and potentially lower prices.

Foreign investors, especially  Chinese investors, are very active in high-demand markets in places like New York, London and Sydney, and yes, Silicon Valley, San Francisco and Marin County. Chinese investors looking for alternatives to their country's crashing stock market and the devaluation of their currency now account for 25% of all real estate purchases made by foreigners in the US -- a record high at $29 billion in the 12 months to March 30 according to the National Association of Realtors.

Some of U.S. consumers – those who lost their homes to foreclosures or short-sales during the real estate downturn in 2008 Recession – are also back. It generally takes seven years for a foreclosure to drop off a credit report, and these “boomerang buyers” are reclaiming their credit scores and many are ready to buy.  Nearly 700,000 of the 7.3 million homeowners who went through foreclosure or short sales during the bust have the potential to get a mortgage again this year. Experts say these boomerang buyers will be an important segment of the real estate market in the coming years.

And, with equity back, those who were able to make their mortgage payments through the rough economic downturn have been rewarded by rising home prices. Millions are experiencing significant equity increases in their homes, allowing them to sell in this current market and trade up for their next purchase. Overall, that can trigger more homes on the market for first-time buyers.

Renters, too, are thinking now could be a good time to buy. With rental rates skyrocketing in the Bay Area, many renters are realizing that the cost of home ownership is lower than renewing a lease. On average in the second quarter of 2015, homeowners in the U.S. devoted 15% of their income to mortgage, whereas experts say 33% is a comfortable number.  Some people living in rentals in the Bay Area devote as much as 50% of their average income on housing.

Demand for Marin real estate in the coming year will also be fueled by the new high speed rail system Smart Train, as well as a continued influx of life sciences and biotech companies into the North Bay. Home values in key areas near the train route and the work centers in San Rafael and Novato are expected to thrive.

Also of interest to Marin home buyers and sellers are continued adoptions by local municipalities to disclose and correct sewer lateral issues prior to the sale of real property. The Marin Association of Realtors has outlined an overall disclosure for consumers to be sure they are complying with local regulations. With all parties aware up front there will be less potential for delays in closings.

Additionally, city inspectors throughout Marin are paying much closer attention to decks and balconies, holding them to higher health/safety standards than in the past, following the recent the deck collapse and fatalities in Berkeley.

For those following the technical aspects of escrows in California, new lending regulations take effect on October 1st and are meant to simplify the reports generated at the end of escrow to clearly show where all proceeds go and to whom. The new forms and disclosures call for ample time to be given for review of files and any changes in the original contract such as credits, accommodations or prices changes. Attorneys who work closely with the National Association of Realtors® have recommended as conservative advice to build into your escrows an extra 15 days for closings. If for example, you had expected a 30 day closing, now plan for a 45-day escrow as a precautionary measure.

So, that's it for the September report. Lots going on, lots to look forward to and lots to observe in this exciting market. We look forward to sharing more with you about Marin Real estate in October.

Please connect with The Costa Group to learn more about home values and current real estate opportunities in Marin County.

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