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Rental Rates and Mission Bay in San Francisco

Rental Rates and Mission Bay in San Francisco

From Inside SF The number of apartments and condos under development in San Francisco has increased to a new record of 63,700 units. In the third quarter, there were slightly more new proposals for housing than finished construction. At this time last year, there were 4,700 less units in the pipeline. Statistics from Cushman and Wakefield show that the average cost of rent in a San Francisco building with more than 50 units dropped 2.7 percent in the third quarter as well. So the laws of supply and demand are taking over.  4700 more units are now in the pipeline.  The most have to be in Mission Bay.  That is the area just south of the San Francisco Giants ballpark. The prices vary but it is predominantly in the $2500+ per month range.  The upside is that things are new.  The downside is that things are new. If you are not a fan of new construction, run, don’t walk away from this area.  The neighborhood is full of flats for sale or rent.  That also...

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Glick Predicts the Election Real Estate Style!

Jill Stein (Green Party) I’ll start with Jill Stein. Stein is a candidate from the Green Party. Her overall campaign is to increase the “Green Trend”. This means enacting tax credits for installing solar energy, encouraging US citizens and companies to compost and recycle, conserving water, and lowering greenhouse gases. What does this mean for you and me who own real estate? Prices will increase because of the cost of installing these items in the short run. In the long run, eventually, these items may be the norm and costs will come way down.   Evan McMullen (Independent)/Gary Johnson (Libertarian Party) For Evan McMullen and Gary Johnson, if we examine their campaigns together, they start to look really similar. They are both conservatives in the sense that they want a smaller government. This can affect us through the CFPB. They regulate all the banking, mortgage and finance activities. Possible elimination of many rules and restructuring of the CFPB which could cause mortgage fraud to return and therefore reduce property...

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The Big Short II

The Big Short II

In the week that the movie, The Big Short comes out, a San Francisco Credit Union is doing exactly what partially caused the big short to happen. These geniuses are putting out a loan with No Money Down up to, get ready…….$2,000,000.  That’s two million dollars with no down payment.  Let me say that again.  Buy a $2,000,000 house in San Francisco and put nothing into it.  No skin in the game. Will the CFPB do anything about it?  Will anyone be up in arms (except me?).  No.  They’ll just say that it is a great business decision on their part for the non-profit credit union to attack a niche in the market. Bullshit. First, if you put no money down, you have costs to sell the place.  Between brokerage commission, transfer taxes, title insurance, possible closing cost credit to buyer for a defect in the house, etc., you could be looking at upwards of $200,000 or 10% as a fee to leave.  And if you don’t have that...

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Tonight is a very special night

Tonight is a very special night

In my recent incarceration of ice hockey goalying began around 2000. Back pain, leg bruises, stiff necks and most importantly the game that is too fast for me on an ongoing basis have brought the decision that I have played tonight, my last team scheduled game in net. I will still be around If a team is desperate and needs a goalie now and then It’s been a great run. I’ve loved and looked forward to it. I played teams that ran the gamut of great and terrible, but I always had a good group of people that I played with. I appreciate the family atmosphere in the locker rooms, The times in the locker rooms busting chops and learning about other people and cultures was fascinated. I respect and admire each and everyone I’ve been playing with since back in the Wharton Wildmen teams like Smell the Glove and Hockey Bukkake to name a few. Then after 2 championships, multiple games in the Cheesesteak Chalice, goaltending in Van...

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San Francisco, Jobs, Google, Housing, YIKES~!!!!

San Francisco, Jobs, Google, Housing, YIKES~!!!!

In what could be one of the largest game changing real estate deals in business history in the Bay Area, Google has been talking about a gazillion square feet at Hunter’s Point Shipyard in San Francisco. Yes, Google needs space but are they just trying to leverage their deal in Mountain View or can they take all the space they can get? Hopefully, the latter for economic development but the question again comes, where are you going to put everybody? There are many ideas, more opinions and no ironclad solution. It’s time to regionalize housing solutions and mass transit. The Bay Area is about as progressive an area as there is, but it’s time to get a definitive plan for the region. http://m.sf.curbed.com/archives/2015/06/15/google_in_talks_for_space_at_the_sf_shipyard_in_hunters_point.php?utm_campaign=issue-37742&utm_medium=email&utm_source=Curbed+SF Fred Glick Share this:TwitterFacebookGoogleTumblrLinkedInEmailPrintPocketRedditPinterestLike this:Like...

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