by Landon Dowdy
If you’re paying more for rent this year, you’re not alone. Rents climbed an average of 15 percent across the country between 2009 and 2014, according to a recent analysis by the National Association of Realtors, and the cost to rent in some markets like New York, Seattle and San Francisco has jumped more than 20 percent.
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Continue reading Millennials Get Hit With Record-High Rents
by Tracy Elsen
The intersection of Turk and Taylor streets is one of the Tenderloin’s most notorious spots for crime, but now it has been tapped as the future home of a 70-unit group housing project. The plans for the parking lot at 105 Turk Street, submitted by Mosser Capital Management, which also owns the building next door, would stand 11 stories high and bring units of roughly 350 square feet to market, as the San Francisco Business Times reports. The project is the latest of several planned for San Francisco that would hold smaller units with their own bathrooms but no full kitchens or living spaces. Those things would be shared with other residents.
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Continue reading Tiny Units Planned For Tenderloin’s Notorious Turk And Taylor
The California Supreme Court has ruled that cities and counties have broad authority to require builders to include affordable housing units in new projects. Local ordinances requiring units to be set aside at below market price are thus constitutional.
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Continue reading New Legislation Allows California Cities To Require Affordable Housing From Developers
Originators may see an influx of first-time buyers in the near future, with housing size trends expected to reverse as builders focus on more cost-friendly, smaller homes.
According to Robert Dietz, economist for the National Association of Home Builders, a greater number of smaller homes will hit the market and counter a trend that has seen the market largely dominated by large homes.
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Continue reading First-Time Buyers To Get More Options
by Tracy Elsen
The plot of land on the edge of Hayes Valley that was formerly known as Parcel H is finally nearing its debut as 34 new condos under the name 400 Grove. The land was once part of the Central Freeway, but after the roadway was torn down in 1992, the parcel was put aside for residential development. DDG and DM Development—the team behind nearby 8 Octavia—worked with Fougeron Architecture to build a structure that is focused around a central courtyard filled with bamboo and designed by Fougeron and Marta Fry Landscape Associates. Each residence has windows covered by rain screens made of sustainably sourced redwood that together make up the most notable feature of the facade.
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Continue reading Hayes Valley’s 400 Grove Gears Up To Sell 34 New Condos
By: Kris Hudson
As California takes steps to conserve public water amid a historic drought, the state’s home-building industry is trying to position itself as part of the solution.
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Continue reading California Builders Position Themselves As Part Of Drought Solution
Rising interest rates may be an equal or even greater threat than rising home prices, especially in the nation’s hottest markets, Boston.com reports.
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Continue reading Low Interest Rates Aren’t Here To Stay
Signaling growing confidence in the housing recovery, a majority of Americans once again named real estate the best long-term investment—a trend now continued for two consecutive years, according to a recently released Gallup poll.
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Continue reading Survey Finds That Americans See Real Estate As Best Long-Term Investment
by Stephen Melman
Existing home sales soared 6.1% in March, and the share of sales for first-time buyers also increased. The National Association of Realtors (NAR) reported March 2015 total existing home sales at a seasonally adjusted rate of 5.19 million units combined for single-family homes, townhomes, condominiums and co-ops, up from an upwardly revised 4.89 million units in February. March existing sales were up 10.4% from the same period a year ago, and have increased year-over-year for six consecutive months. The March increase was the largest monthly increase since December 2010.
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Continue reading Spring For Existing Home Sales In America?