I saw this the other day and found it pretty surprising:
Crime Rate Comparison: San Francisco Vs. New York
It really does clash with the stereotypes of New York.
On the other hand, I never realized how dangerous Houston was:
Yipes!
Region’s median income on the rise – Sacramento Business Journal:
Median family income rose 3.15 percent over the past year in the Sacramento area, based on Department of Housing and Urban Development figures for 2006.Median family income for the Sacramento Metropolitan Statistical Area is $65,400, up from $63,400 in HUD’s 2005 estimates.
The median means that half the households in the region make more and half make less.
The highest median-income metropolitan area in the country is San Jose-Sunnyvale-Santa Clara, with a median income of $97,100, up 3.4 percent from the previous year. The second highest in the country was Bridgeport-Stamford, Conn. which had a median income of $95,900.
The median income in San Francisco-San Mateo-Redwood City was $91,200. Santa Barbara-Santa Maria’s median income is $65,800. The median in San Diego-Carlsbad-San Marcos was $64,900.
Wow… a median income of $97,100. No wonder real estate is so expensive. Maybe prices will never fall!
SocketSite™: 2,700 New Condos On Sale Soon
2,700 New Condos On Sale SoonThank a change in state legislation (allowing for 3% non-refundable pre-construction deposits) for the boom in new development sales centers slated to open this spring/summer. One such sales center, the 9,000-square-foot, $2.5 million sales center for One Rincon Hill, will feature “a fully appointed, two-bedroom model apartments [sic] with lightboxes simulating views both night and day.”
In total, sales centers representing at least 2,700 new condos should open within the next six months. Included in the mix:
170 Off Third – 198 condos
255 Berry (open) – 99 condos
The Arterra – 268 condos
Broderick Place (open) – 70 units
The Hayes – 128 condos
The Infinity – 650 condos
One Rincon Hill – 695 condos
The Palm (open) – 300 condos
Park Terrace – 110 condos
SoMa Grand – 246 condos
Wow, that’s a lot of condos coming online!
charles hugh smith-Weblog and wEssays
# The ratio between rents and prices–what a house rents for compared to what it fetches when sold–is at historically unsustainable levels. This graph says it all: a hockey-stick rise in values which far outstrips the income potential of the property. At these levels, housing makes no sense as an investment; it only makes sense as a speculation if the mania continues.
I think the real problem is that the OC beat the SF!
Listing Detail – Single-Family Homes
A rare opportunity for an investor / contractor! A Historic Earthquake Cottage with Planning Dept. approval for expansion and remodel. The addition features a great room with cathedral ceilings over an enclosed garage, turning this historic cottage into a 2 bed 2 bath home with views!
Listing Price Address Listing #
$529,000 74 Lobos St, San Francisco 94112 302416Agent Lily V Remoundos [Send e-mail] Primary:415-905-0255 x165
Office Zephyr Real Estate Phone: 415-905-0250, FAX: 415-905-0140
District 3 – J
County San Francisco
Beds 1 Baths 1
Structure (approx sq ft) 0 Sq Ft Source Not Available Price / SqFt 0.00
Year Built 1906
Map Book SFAR Map Map Coordinates SFAR, CN51
Cross Street Caine
Directions To Property San Jose to Lakeview to Caine to Lobos
Paint it pink, and it’d be great for Barbie!
SocketSite found this goodie recently:
Listing Detail – Single-Family Homes
Listing is for a 1/6 (TIC) ownership interest in this Potrero Hill single-unit home. Other 5/6 ownership positions are held by related family members of seller who are keeping ownership within the family. Occupancy will be by family members. Probate sale subject to court confirmation. Do not disturb occupants.Listing Price Address Listing #
$100,000 249 Texas St, San Francisco 94107-2428* 303073
So let me get this straight… I put in $100,000 for something that is 83% owned by the same family.
After spending that $100,000, I don’t have the right to go there.
WOW WHAT A DEAL!
Maybe that’s for the best. According to one of the anonymous commenters on socket site, there might be a Megan’s Law person there.
A reader sent me an email, linking to this exact same house I posted earlier:
San Francisco — Burbed.com: Your Silicon Valley Home and Mortgage Insanity Blog
This is what the reader (thank D.L.) had to say:
so i just figured i can (finally) afford a $800,000 mortgage and booked a condo in south beach for $880K + costs to move in April. then, i became insomnic for about a month thinking about paying $1098/sq ft for a place to lay my head in between days of working hard to meet a $7000/mo bill (including $900 HOA) and i pulled out of the condo….so, then i recently started (again) a search for housing in SF….onward to the www.sfarmls.comwebsite and searched for ANY single family house ANYWHERE in SF that wasi’m not certain whether to laugh or cry. most of me is crying…..this charming little shotgun cottage was either left on the slab of cement by a neglectful owner or stolen from the train set at Macy’s over Christmas….i’ve simply copied this from the MLS and am not making this up. for a HALF-A-MILLION dollars, you can take prideful ownership of this “well-maintained victorian” (in the only area of SF that you are likely to get shot while driving home) and continue to rent it to SECTION 8 tenants with tenants rights! gee, what a charmer. what a “super chance for investment and for first time home buyers”, just like me!i’ve been in SF 5 years now and i still can’t figure out how to buy a place here on an income that would make me a king anywhere else but manhattan. like a lot of confused, educated, productive people, i too will be leaving soon. sanity is nowhere to be found here. a shame.[later]what’s most bothersome about this is that anyone that also found this place is just more competition! it wasn’t the only house under a million….there are other pieces of junk out there too…and a line of people looking to pay for them.[snip] and therefore, i’ll be heading somewhere else where my friends make $500K and have homes. i always wondered why the people i meet here are either starving artists living in the mission or incredibly wealthy people that made it in the 90s or moved here with their parents money.even NYC seems more real.i like your site, and will be back.
Thanks for the mail! Keep’em coming!
Listing Detail – Single-Family Homes
Perfect starter home. Inspector says property is better than it appears. Paint and Polish and make a great home here
$495,000 1064 Innes Ave, San Francisco 94124-2416 301375
Agent Jose Dos Ramos [Send e-mail] Primary:650-342-9252
Office Prudential California Realty Phone: 650-342-9252, FAX: 650-342-2907
District 10 – A
County San Francisco
Beds 2 Baths 1
Structure (approx sq ft) 920* Sq Ft Source Per Tax Records Price / SqFt 538.04
Year Built 1938*
Well, since it is only 920 square feet, you’ll definitely save on paint!
Home Detail – ZipRealty Real Estate
1107 GILMAN AVE, Bayview Heights, CA 94124**
List Price: $469,000
ZipRealty will give you up to $2,814 cash back.*
This was submitted by a Burbed.com reader – Thanks Sebastian! Sebastian also notes:
This is one of my favorites:A must see home! Well maintained victorian home in bayview height area. Close to transportation, freeways and the new 3rd street light rail. 2bd/1ba, lot size 2495 sq ft built in 1912. It is now rented to section 8 tenants at $1925 per month.Subject to tenants right. Property to be sold as is condition. Super chance for investment and for lst time home buyers.
Well on the upside, the smaller the house, the less the vacuuming you’ll have to do. And less to defend! After all, this is the part of the city that generated this headline:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2005/03/08/BAG5DBLSOD1.DTL
[Mayor] Newsom wants to use fire trucks to help battle crime
He would plant firefighters in their rigs on street corners
Location, location, location! Burbed is everywhere you click.
