Jennet Nazzal
BRE License # 01371061

Quick Note: Predictions for 2018

The new tax code may have some impact on our local San Francisco housing market, but just how much impact is still uncertain. According to the Bay Area News Group, experts expect much of the market to remain unchanged in 2018, with home prices continuing to climb — though perhaps at a slightly slower rate.

Even though some analysts predict that homebuyers in high-tax states such as California may choose to move elsewhere, others think that buyer demand will remain high, and that homes will sell even faster in 2018 than they did in 2017, when nearly one in five homes sold within a week.

Lastly, the question we're asked each year, will there be a housing bubble? Even in impossibly hot markets like the Bay Area, analysts aren’t seeing one. They say they have come to this conclusion partly because people are making larger down payments or paying all cash, and partly because sellers are getting their asking price — and then some.

Mortgage Update: While Economy Holds Strong, Rates Remain Attractive

The number of Americans filing new applications for unemployment benefits held steady last week near historically low levels, the latest evidence of health in the U.S. economy as 2017 drew to a close.

Residential interest rates remain low and attractive for buyers.

This information is provided by Tim Wood at Terra Mortgage Banking/Opes Advisors, a mortgage bank. Tim can be reached at 415.464.1374, by email or through his website

Interest Rates this Week
Conforming Loan Rates
30 Year Fixed 3.875% « calculate mortgage at this rate
7/1 Year ARM 3.375% « calculate mortgage at this rate
Jumbo Loan Rates
30 Year Fixed 3.875% « calculate mortgage at this rate
7/1 Year ARM 3.250% « calculate mortgage at this rate
Rates change daily and vary by product. They are provided here to give you a general sense of current average California rates. Your rate will vary and depends on credit and other factors. Rates are not published on weekends. Source: This information is provided by Tim Wood (NMLS #319539) at Terra Mortgage Banking/Opes Advisors, a mortgage bank. Tim can be reached at 415.464.1374, by email or through his website

A Quick Guide to Things Going on in the City

The Salesforce Tower: A Symbol of a New San Francisco

San Francisco Chronicle Urban Design Critic John King recently published a dissertation on the Salesforce Tower that now dominates the City’s skyline. It’s a big story about a big building.

The piece is a deep dive that goes beyond the beams and glass of the building. The writer describes how the tower is really an embodiment of the changes that are taking place in San Francisco today.

“It is the nature of some buildings, if nature is the word, to loom even larger as symbols than they do in real life.”

“This was true of the Ferry Building, which opened in 1898 and immediately became San Francisco’s portal to the world. It was true of the Giants’ AT&T Park, which established a southern anchor for the Embarcadero and turned neighboring Mission Bay from a planning theory into a functioning neighborhood. And it is true of Salesforce Tower at First and Mission streets…”

“…The presence of a 1,070-foot-high shaft of glass and metal on the skyline makes the former peak, the 853-foot Transamerica Pyramid, seem almost petite.”

“None of this happened by chance, or in isolation. And as workers complete the plaza outside and prepare the upper floors for their future tenants, the building’s impact on San Francisco’s physical and social landscape already is profound.”

To read the entire piece, please click on, or copy and paste, the link that follows:

New Cocktail-Focused Bar and Restaurant Just Opened

Just a few days ago long awaited True Laurel opened, and it is really something to behold! Chef-owner David Barzelay and head bartender Nicolas Torres, from Lazy Bear, have put together an elevated menu of a la carte small plates and drinks, a complete flip on the tasting menu-only format of Lazy Bear, offering an affordable and accessible way to experience their cuisine and eccentric mix of cocktails.

The drinks and food look amazing. To see what we’re talking about, check out this slideshow from 7× Please click on, or copy and paste, the link that follows:

If you love the Lazy Bear experience, but find the the price tag hard to swallow (at least $200 per person, before drinks), then True Laurel is for you. The 36-seat bar and dining room will be the stage for food like Dungeness crab fondue, and broiled oysters with lardo, all available a la carte.

Open 4PM-2AM, 7 days/week, kitchen 5PM-1AM
All walk-ins, no reservations
753 Alabama Street

For more news about what's going on around town, please visit

Median Sales Price - By Property Type

December figures were just released by the San Francisco Association of REALTORS®. As we do each month, we'll look at the numbers, and see if we can spot any trends.

In December, the median sales price for single family homes was $1,500,000, up 11.1 percent over December of last year. This means that half of the homes sold during this period sold above this figure, and half sold below it.

For condos and lofts the median sales price in December was $1,184,651, up 9.9 percent over the same month last year. The median sales price was down a bit from November's figure.

Average sale prices during this same time period were higher than the median sales prices, and we thought we'd share them with you here just for sake of comparison. The average sales price for single family homes in December was $1,898.964, and the average sales price for condos and lofts last month was $1,313,590.

Median Days on Market - By Property Type

Days on market landed at just 14 days for single family homes, and 23 days for condos and lofts — down 36.4 percent and 25.8 percent respectively in comparison to December of last year.

This marks the seventh consecutive month where days on market for single family homes was at 14. That's a remarkable streak, and without precedent over the years.

Active Listings - By Property Type

In December there were 263 active listings for single family homes, down 30.4 percent in comparison to last year. At the same time, there were 389 active listings for condos and lofts, down 24.5 percent in comparison to December 2016.

December's figure for active listings for single family homes was the lowest it has been in the past ten years. The previous low occurred in January of 2015, when there were just 272 active listings on the market. It will be interesting to see what happens this January. We'll keep you posted.

Percent of Properties Sold Over List Price - By Property Type

The percent of properties sold over list price remains high for both property types. 80.3 percent of all single family homes sold over list price. That's up 8.8 percent over December of last year, though down a bit from last month. 61.1 percent of condos and lofts sold over list price, and that is up 13.8 percent in comparison to December 2016, and up a bit over last month.

Neighborhood Spotlight: Oceanview

This week we look at the Oceanview neighborhood. This is a residential neighborhood that, with just a few exceptions, features single family homes, and that perhaps explains why there is no line for condos and lofts in the chart above. Clearly, it is one of the City's most affordable neighborhoods.

Partly due to fairly recent waves of gentrification in the past decade, Oceanview is more ethnically and economically diverse than San Francisco as a whole.

There are a number of homes in Oceanview still standing from the late 1800s, mostly detached Victorians and Edwardians. The next wave of development brought row-house-style homes to the neighborhood.

When you hear that a neighborhood is called Oceanview, you would expect that there would be views of the ocean. That's not the case. Adjacent to the 280 freeway along most of its border in the southern portion of the City, Oceanview is landlocked, without a hint of the ocean in any direction. As we understand it, the location was once a station for train service between San Francisco and San Jose called the Ocean View railroad station, and that's where the name comes from.

In December of this year, the median sales price for a single family home in this neighborhood was $882,500, up 4.5 percent over December of last year. There were no condo and loft sales. There were 8 single family home sales last month, just as there were 8 sales in December of 2016. That single digit sales number is fairly consistent from one month to the next.

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Hill & Co. Real Estate · 1880 Lombard Street · San Francisco, CA 94123 · (415) 921-6000