San Francisco Housing Market

The signs and numbers are already lining up.

According to Federal Housing Finance Agency data on ou阿拉爱上海同城 爱上海龙凤419桑拿r glorious Housing Bubble 2, house prices are doing what they’ve been doing for years: they’re surging. In the first quarter, they rose 6.0% year-over-year.

“The steep, multi-year rise in U.S. home prices continued in the first quarter,” explained FHFA Deputy Chief Economist Andrew Leventis on Wednesday. So house price are going up everywhere. Well, not everywhere.

In the once hottest metropolitan statistical area where house prices have surged in the double digits for years – San Francisco, Redwood City, and the city of South San Francisco which make up the tip of the Peninsula – was the sole exception: there, house prices fell 2.5% in Q1 year-over-year.

It was the first decline since Q2 2011, when the last housing bust ended. This chart shows the year-over-year percentage change per quarter of the FHFA’s House Price Index (HPI). Note how many times prices increased between 10% and 20%-plus:

The HPI is based on data from mortgages that lenders have sold to Fannie Mae and Freddie Mac or that were guaranteed by them. These mortgages are capped – for the San Francisco area, at $636,150. In San Francisco itself, the median house price is about $1.35 million and the median condo price about $1.1 million, according to Paragon Real Estate in San Francisco. With a 20% down-payment, the home could be priced at $800,000 to qualify. I know buyers who made a much bigger down payment – g[……]

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Hudson Companies

Hudson Companies targe上海同城对对碰交友社区 上海夜网论坛ts $478M sellout for BK Heights condo project The developer demolished the Brooklyn Heights Library last year

David Kramer and a rendering of 1 Clinton Street (Credit: Marvel Architects)

Hudson Companies plans to bring 134 condominium units to market at its 1 Clinton Street development with a total target offering price of $477.7 million, an offering plan filed with the New York state Attorney General s office shows.

The company demolished the Brooklyn Heights Library at the site last spring and is building a 36-story tower in its place that will include a new library at the base. City Council allowed Hudson to buy the library building for $52 million in 2015. The project will also include 114 units of off-site affordable housing.

The range of condo prices at 1 Clinton was not immediately clear, but they will average out to $3.6 million a piece. Only 4 percent of Brooklyn s new development condo inventory costs more than $3 million, according to recent Brooklyn data from Miller Samuel.

Hudson s Da爱上海龙凤419桑拿 上海龙凤论坛sh1fvid上海龙凤论坛 新上海贵族宝贝论坛 Kramer declined to comment.

Community groups initially prot新上海贵族宝贝论坛 上海贵族宝贝交流区ested the city s sale of the land to Hudson and unions decried Kramer s refusal to agree to only use union labor. I didn t feel it, Kramer said, when asked about the opposition to the project by the Commercial Observer in 2015.

In 2016, Hudson was looking to raise $110 million for the building through the EB-5 program. Last year, it closed on a $280 million construct[……]

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Manhattan Luxury Market

US exis上海贵族宝贝 上海千花网龙凤论坛ting home sales post largest decline in three years A weekly feature bringing you the industry’s latest intel

NYC apartments (Credit: Getty Images)

According to this week s market reports, the Manhattan luxury market had its best week in nine months and only 14 percent of companies consider themselves to be agile with their real estate portfolios.


Sales | TOWN Residential

From January 22 to February 18, there were 728 contracts signed in Manhattan. Out of that total, 363 transactions were for co-ops, followed by 331 deals for condos and 20 for condops. The most robust price segment was the $1 million to $2 million segment, which accounted for 上海龙凤论坛 新上海贵族宝贝论坛191 deals. The $2 million to $5 million bracket, meanwhile, accounted for 148 transactions. Read the full report here.

Sales | National Association of Realtors

Existing home sales across the U.S. registered its largest year-on-year decline in three years in January. During the month, total existing homes sales dropped 4.8 percent to 5.38 million transactions. The total also represents the second consecutive monthly drop for the segment. Read the report here.

Luxury Sales | Leslie J. Garfield

Between Feb. 3 to Feb. 16, 10 new townhouses were listed in Manhattan, the most expensive of which is 163 East 78th Street, which has an asking price of $18.45 million. During the period, six contracts were signed in Manhattan. The priciest was for 16 East 78th Street, w上海龙凤论坛sh1f 上海龙凤论坛hich went into contract with a last asking pr[……]

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Deutsche Bank New CEO

What Deutsche Bank s new CEO could mean for New York commercial RE Board members appointed Christian Sewing in a conference call Sunday.

From left: Deutsche Bank s ex-CEO John Cryan, newly-appointed CEO Christian Sewing. (Credit: Bankentag 2017 – Konferenztag, Pixabay, Deutsche Bank)

The German bank s supervisory board appointed Christian Sewing as its new CEO takin上海千花网 爱上海同城对对碰g over from John Cryan foll上海夜网论坛 上海夜网owing a much-anticipated conference call Sunday.

Sewing, who was co-president of the embattled lender in charge of private and retail-banking and regional CEO of Germany, assumes his role with immediate effect, while Cryan, who led the bank since 2015, will leave the bank by the end of April. Garth Ritchie and Karl von Rohr will be the new co-presidents, with Ritchie leading the investment bank, according to the Journal.

Marcus Sche阿拉爱上海同城 爱上海龙凤419桑拿nck, who was formerly a co-president with Sewing was left out of the reshuffle because he informed the Supervisory Board before Easter that he intends to leave the ban上海千花网论坛 上海千花网k after this year’s Annual General Meeting, according to bank statement to press.

The change of leadership comes following the loss of €5.6 billion in revenue from the bank s core businesses between 2015 and 2017. This year, its first quarter revenues were expected to be €450 million less than anticipated.

Sewing s appointment indicates to the Journal that the bank intends on focusing on providing financial services to European companies with less attention devoted to globa[……]

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National Rental Market

Guess who’s healthier and happier between renters or home owners? A new study shows renters get more sleep and spend less time on ho阿爱上海同城 阿拉爱上海同城use-related chores

(Credit: Pixabay)

Who needs the aggravation of owning a house?

A new Apartment List report suggests that renting may lead to a happier life at least in terms of a few key metrics like sleep and time spent relaxing versus doing chores.

Based on a survey of daily activities, the report finds that renters spend the majority of their time each day sleeping, followed by time spent on relaxing and新爱上海同城对对碰论坛 上海同城对对碰交友社区 leisure, whereas the majority of homeowners categorized their top daily activities as taking care of household activities and children. Renters also spend less time at home.

The difference in amount of time homeowners spend per day on chores versus renters is 23 minutes. But over a year that equates to three and half 40-hour work weeks, as Apartment List calculated. The report attributes the differing behavior to the fact that landlords often take care of chores such as lawn care, repairs and general maintenance, and even some kinds of cleaning for their tenants.

Despite homeownership rates declining across the country, Gen Z whose oldest members were born in 1995 seems more inclined toward buying 新上海贵族宝贝论坛 上海贵族宝贝交流区homes. A recent PropertyShark survey found that many within the generation see themselves purchasing a house within the next five years.

Tags: homeownership, Rental Market, Residential Real Estate
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The Real Deal Editors

The best of: TRD editors share their picks for the top stories of 2018 TRD editorial staff discuss their favorites from the past year

The Real Deal s top stories of 2018

The Real Deal s coverage reached all corners of the real estate industry in 2018.

From the Opportunity Zones craze and residential brokerage s existential crisis, to a developer who s become the poster boy for gentrification in Chicago and even the mid-term elections, TRD reporters and editors didn t skip a beat.

Here s a look at some of the top stories we reported in 2018, as selected by TRD s team of editors.

Stuart Elliott, Editor-in-chief | Kushner unfiltered, Rough cut

The Real Deal’s reporters and editors kept quite busy in 2018. Each month we produced in the ballpark of 1,000 online posts and 200 magazine pages across our four cities. Amidst that mountain of copy, there was a lot that stood out when it came to finger-on-pulse, follow-the-money financial journalism. It s hard to choose, but I will say this: “Rough Cut,” our investigative piece on how money from the murky global diamond trade has helped shape the New York skyline, was a deep-dive that made me particularly proud with its breadth and scope.

Meanwhile, our no-holds-barred interview with Charlie Kushner was our most read piece of the year. And for good reason – nobody else had gotten that kind of access to Kushner, at a time when his son Jared in the White House and his 666 Fifth Avenue property were the subject of intense scrutiny. The interview[……]

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Peconic Bay fund earned nearly $99M from real estate taxes in 2018

A public program 阿拉爱上海同城 爱上海龙凤419桑拿managed by five towns on Long Island’s East En上海龙凤论坛 新上海贵族宝贝论坛d earned $98.97 million last year, 3.2 percent more than it had in 2017, 27east reported. The Peconic Bay Community Preservation Fund draws its money from a 2 percent real estate transfer tax in the towns of East Hampton, Riverhead, Shelter Island, Southampton and Southold. That money then goes to preserving historic properties, farmland and open community space, along with building parks and addressing water quality issues. Southampton p爱上海同城 爱上海ulled in the most of any of the towns, collecting $53 million, but still posted a 6 percent drop from 2017. The fund’s purchases in the town exceeded $16 million in 2018 and included the $7.6 million acquisition of the former Lobster Inn in Shinnecock Hills. Southampton also used the fund’s money to buy a construction site where builders uncovered remains believed to belong to a Shinnecock Indian Nation m上海贵族宝贝 上海千花网龙凤论坛ember. The town also 爱上海同城论坛 爱上海同城floated buying the blighted Bel-Aire Cove Motel in Hampton Bays with the fund’s money, but that plan was shelved. Officials reportedly believe the dip in Southampton revenues could be attributed to a decline in home sales due to ongoing economic uncertainty. [27east]

Tags: Hamptons
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