Permit fast-tracking for green buildings?

From today's Examiner,

Attention would-be developers: Building a green project can speed up the permitting process.

The Department of Building Inspection, the city agency that issues the necessary permits for all new construction and remodeling, has pledged to give priority to projects that meet national environmental standards.

The directive from Mayor Gavin Newsom’s office is designed to encourage environmentally friendly development, such as buildings that make use of recycled or reclaimed materials, nontoxic paints or carpets made of nonsynthetic materials. The program begins next month. Seven buildings now meet the highest standards, while 29 projects are pending. There are more than 8.3 million square feet of buildings that are registered and qualified as environmentally sensitive in The City, officials said.

The new program, which works in conjunction with the Planning Department, will likely speed up the permitting process by several months for those that qualify, said William Strawn, communications manager for DBI. [more...]

City: Plan green, get permits [Examiner]
First Green Condo Project Breaks Ground in San Francisco [SFHomeBlog]
Who's going to work for the DBI, now? [SFHomeBlog]

A veritable collection of crap

So much is being written about how high the inventory levels have risen in San Francisco in the past 8 months, and even more dramatically in the past four weeks.

And many media outlets would have you, the casual observer, believe that this is a sign of a coming apocalypse.

As you might imagine, I just don't believe that.

And why not?

Because in my eight year career in this town, I have never seen so many crappy (or overpriced) listings on the market.

That's about the best way I can put it. And it's providing the appearance that there's something dramatically wrong with the market.

So for this week, here's my take on things:

Yes, inventory is up. Actually at an all-time high for my career.

But so are listings from stubborn sellers who want the highest price ever for a house in their neighborhood. This is where the problem lies.

High rise inventory is also up. Why is this a good thing? As much as folks love to argue with me about the existence of a supply/demand influence on this market, you really can't argue that a higher inventory of unsold condos is good for buyers.

Since we can't get all types of housing built quickly (due to supervisors, moratoriums, and the building/planning department), let's be happy that at least we have one neighborhood that is seeing a sort of inventory saturation.

Good properties are still selling in only a couple of days. Price it right, present it right, hire a good agent, and it will sell. Period.

That applies really well to the high rise market, too. The great units in the great buildings with the perfect views are flying off the shelves, and the less-desirable units are sitting a little longer. It's no surprise that not everyone wants to live in a high rise in SoBe, so where's the big shocker here? This only sucks if you are trying to resell a high rise unit right now (unless you are in a great building with a great view, of course).

What do I define as 'crap'? It's really all about pricing, honestly. If some sellers would just realize that their house with one bathroom off the back of the kitchen, which was remodeled twenty years ago, is not the second-coming of the Dwell home-of-the-year, then we'd all be just fine.

Likewise, when you look at the recent sales (from '05, for example) and you see that the highest price for a unit in a building was $600k, don't pretend that your unit is going to fetch $650k, no matter how badly you want it to. Most agents are smarter than that, and so are most buyers.

At the right price, everything in this town could sell in three days (not all at once, of course). So for buyers and sellers, what should you make of this market?

Sellers

1. Hire a good, local agent


2. Don't pretend that your stuff is as nice as staging. It's not.


3. Learn the comps and don't pretend you can tell the market what your house is worth. You can't.


4. Just because you paid too much for your house in multiple offers last year, you aren't entitled to anything special this year. And see #3 above.


5. And if you've done your homework and interviewed a couple of agents (or more), then let them do their job. And trust their abilities and information. I know agents rank right above used car salesmen for most people, but some of us actually know what we're talking about.


6. If you get an offer in this market, and especially if you get more than one offer, you should seriously consider taking it. There are a few exceptions to this, of course, but there are literally hundreds of sellers out there right now, houses sitting on the market, who turned down their first offer(s) in hopes of something better. And every single one of them is regretting that decision right now.

Buyers

1. Hire a good, local agent


2. Yes, I've read the newspapers, too. I know you want a bargain. But you can't have both the perfect house AND the bargain.


3. Yes, there is more inventory. Yes, it takes time to look at this inventory. So do your homework, look at as many houses as you can, but always be ready to write an offer if the right house comes along.


4. If you really like a house, chances are it's one of those that everyone else is waiting for, too. Don't be afraid to write an offer the first day something comes on the market. But only if you're willing to waive your self-imposed right to a bargain.


5. And don't think that this inventory will last forever. I've already been slammed for stating this, but I'll say it again. We've already seen our new listing inventory peak for 2006, and you won't see the large number of new listings hitting the market again until next spring. That means that if you're looking for a bargain, watch some of the overpriced crap that's sitting on the market now and start negotiating soon. Or someone else might.


6. The ratio of accepted offers versus new listings will rise from now until the end of year (and perhaps till the end of January). That means that buyers will be more active than sellers. This doesn't mean 'seller's market', but it does mean that fewer people want to sell their homes in Oct/Nov/Dec than during other times of the year. And if you want that 'perfect' house, there's less of a chance that you'll see it happen in the fall.

To wrap this up, I'll reiterate that for nearly everyone, this is a very good market. Sales prices in general are about where they were last year, and in many cases are up over the previous highs of 2005. But there are also many more opportunities (due to the higher inventory) than there were in previous years.

So take your pick: nice houses that sell quickly, or bargains on houses with small (or large) defects. There seems to be something for everyone right now.

And for sellers that bought more than 12 months ago and didn't pull all of their equity out to take up a second career as a race car driver, they're all just fine, too.

That's my story, and as usual, I'm sticking to it.

More Treasure Island development news

From today's Examiner,

The latest blueprints for Treasure and Yerba Buena islands include a fifth high-rise residential tower, 6,000 apartments and condominiums, three ferries and an aggressive incentive plan to get people out of their cars and onto ferries and buses.


A prior proposal, announced late last year, called for 5,500 housing units, four towers of at least 30 stories and one less ferry to shuttle residents to San Francisco.


“We need a critical mass of people living on the island” to make it work financially, said Michael Cohen, of the Mayor’s Office of Base Reuse and Development.


The redevelopment plan calls for providing at least 1,800 affordable units and a 338-acre park.


Under the $1.19 billion proposal that’s still being hammered out, all parking would come at a price, residents would have to buy public transportation passes and cars driven off the island during rush hour would pay an extra fee, Treasure Island Development Authority members learned Wednesday.


“This is a land plan that makes it easy to walk,” said Chris Meany, of Wilson Meany Sullivan, a development firm. “With the carrot and the stick, you encourage people to do the right thing.” [more...]

Islands’ redevelopment plan takes shape [Examiner]

Treasure Island development plan [SFGate]
Buried treasure [SFBG]

Circle Bank and creative financing

Looks like nothing more than a canned press release written by Circle Bank, but they ran it in the SF Business Times, so I'll pass it on...

Circle Bank of Novato has created a series of unique loan products to help finance residential and commercial real estate throughout the Bay Area.

The products include a deferred payment program, fractional tenant-in-common loans for both residential and commercial property and a real estate retirement program that extends loans for investment real estate in self-directed IRAs and 401(k) plans.

...

Fractional residential TIC loans are an increasingly popular way for a group of buyers to acquire a multi-family residential property. Circle Bank is financing all phases of TIC transactions, from acquisition financing to conversion to fractional TIC loans for the separate buyers.

"This unique lending program," the bank said, "makes it easy for apartment building owners to convert their properties to tenant-owned residences without having to deal with the restrictive fees, permits and inspections often required for condominium conversions."

The financing tool is also an effective means to skirt local laws, like those in San Francisco, that severely restrict the number of apartments that can be converted into condos.

Circle Bank is also extending fractional TIC loans to finance commercial real estate such as office condos. [more...]

And perhaps coincidentally, I had a reader comment on an old post about their bad experience with Circle Bank...

Circle Bank's fractional-TIC loans should be avoided if at all possible. They refuse to provide a copy of their Note and Deed of Trust for review by your attorney saying that it is PROPRIETORY INFORMATION then slip it under your nose at the title company for signing. It took them 112 days to fund from initial application and the rate originally quoted went up when the rest of the market was going down. They also changed indexes and increased spreads without notice.

I have worked with clients who used Circle Bank, and have had good experiences with them, but I have not been involved in any fractional TIC financing.

Circle Bank offers new ways to finance real estate [SF Business Times]
Circle Bank starts controversial fractional-TIC loans [SFHomeBlog]
Bank of Marin to be first to offer individual TIC loans? [SFHomeBlog]

Tenderloin developer puts down $5.5 million on site for 80 units

From today's San Francisco Business Times,

Tenderloin Neighborhood Development Corp. is snapping up a Mission Street parcel for $5.5 million and plans to develop 80 units of affordable family housing there.

The 15,000-square-foot site, 1036-1040 Mission St., sits between Sixth and Seventh streets, a long-depressed part of the Mid-Market neighborhood that has seen considerable investment over the past two years. It was owned by Skyline Investments, a company owned by the Lembi family, which is being sued by the city for violating housing laws.

Nick Griffin, a senior project manager with nonprofit TNDC, said it's getting increasingly difficult to tie up development parcels for below-market projects. In addition to the SoMa Grand, a high-end 22-story highrise AGI Capital and TMG are developing at Mission and Seventh streets, national developers Crescent Heights and Forest City are looking at condo developments in the neighborhood.

"It's competitive and sites are scarce," said Griffin. "We feel that when someone like Skyline gives us the opportunity to tie up a site, we don't have the luxury to dicker around with it. We need site control as quickly as possible."

About 20 percent of the project will be set aside for the formerly homeless. The project will include 13 one-bedroom, 50 two-bedroom, and 15 three-bedroom units. Rents will be pegged at 30 percent of median income. [more...]

Tenderloin developer puts down $5.5 million on site for 80 units [SF Business Times]
Tenderloin Neighborhood Development Corporation (TNDC) [official site]
New Housing Complex Offers Positive Change For The Tenderloin [SFHomeBlog]
Construction to begin on Tenderloin center [SFHomeBlog]
Condos, offices drive Mid-Market ‘revitalization’ [SFHomeBlog]
SOMA Grand [official site]

And even more block parties!

Guess now that we're finally having our summer, it's time to fire up those block parties...

Saw these on Supervisor Mirkarimi's email newsletter,

Sunday, September 24: Heart of Cole Valley Festival
Location: Cole Street between Carl and Parnassus
Time: 9am-6:30pm
The Heart of Cole Festival is a charming and well-attended event with reasonably-priced booths to accommodate local and emerging artists. The festival features local art and fine craft, local food, live music, events for children and more! We look forward to seeing you at this year's festival!
More information: http://www.colevalley.org

Saturday, September 30: Japantown Community Picnic
Location: Pioneer Log Cabin Picnic Area, near Stow Lake off JFK Drive, Golden Gate Park
Time: 11am-5pm
A community-wide picnic reminiscent of the large outdoor gatherings of the early and mid 1900s. There will be games for children and adults. Bring your own picnic lunch or order bento by calling (415)387-9698 or emailing judy@asiantics.com. To enter the chicken teriyaki cooking contest call (415)921-0146.

October 14: San Francisco Family Festival
Location: Yerba Buena Gardens, Mission between 3rd and 4th
Time: 11am-3pm
More information: www.dcyf.org/familyfestival06/details.htm
Bounce into the Fun Zone for games, races, fortune tellers, tattoos and prizes! Get creative in the Art Zone where you can make your own mask, necklace or hat and contribute to the giant Day of the Dead Sculpture. Step into the Info Zone where you will discover the many resources available to families in the City. Sign up for free art classes, register for no-cost bank accounts, get nutrition and fitness tips, and much much more!

Sunday, October 15: Lower Haight Block Party
Location: Haight between Fillmore and Pierce
Time: 11am-6pm
The Lower Haight Merchants Association is hosting its first neighborhood Block Party. It will include live music, events for children, and booths for artists. Scheduled to perform are living legends Herbie Hancock and Les Claypool!
Contact: lowerhaightblockparty@gmail.com

Herbie Hancock and Les Claypool in the Lower Haight? Nice. Count me in.

NoPa Block Party - September 30th

This was emailed to me by the North of Panhandle Neighborhood Association,

The North of Panhandle Block Party, scheduled for Saturday September 30th, promises to be the best ever, as it is freshly focused on community-building and safety. We have created exciting new events to include communicating with you on what you can do to keep the neighborhood safe and clean, valuable prize drawings and lots of family activity.

All proceeds from this block party will benefit the NOPNA Safety Committee, dedicated to keeping our neighborhood safe, clean and crime-free.

We hope you'll come support our efforts to build community. We believe there has never been a more important time to unite as a community, especially in light of recent events in our area.

North of Panhandle Block Party
Saturday, September 30, 2006
11 am to 7pm
Lyon Street between Hayes and Grove

Bring your family and friends (and chairs)!

Schedule:
11 am: Magician/Juggling Act

11 am - 3 pm:
Bounce House
Arts and Crafts
Face Painting
Cupcake Decorating

12 Noon - 7 pm:
Full BBQ
Valuable Prize Drawings randomly drawn from your ticket stub from the BBQ

3 pm - 7 pm:
Live Music

NoPa has a developed a very strong sense of community in the past few years (I've lived in the neighborhood for almost ten years now), and these block parties are great for kids and adults alike.

Bernal Heights 'Fiesta on the Hill' coming October 15th

The annual Fiesta on the Hill in Bernal Heights returns this year on Sunday, October 15th from 11am till 6pm.

See www.FiestaOnTheHill.com for all of the details, including a full slate of live music.

On a real estate note, don't expect Sunday open houses in Bernal on this day... First, the traffic discourages buyers, and second, any real estate agent that really works Bernal will have a booth at the Fiesta and won't be doing open houses anyhow!

Vote to preserve historic sites

From today's Examiner,

National Trust and American Express offer $1M for new designations in the Bay Area

Vote early and often if you want to preserve your favorite historic place and increase its chances of receiving grant money.

Twenty-five Bay Area historic sites in seven counties — including a domed courthouse in Redwood City, a 1924 San Francisco streetcar and the Angel Island Immigration Station — are all in the running for funds to help beautify, restore and renovate them.

The joint effort between the National Trust for Historic Preservation and American Express, which is funding the $1 million Partners in Preservation program, was announced Monday.

The $1 million pot of money will be divided between a still-unknown number of sites, depending partially on which receive the most votes before the Oct. 31 deadline (each person may cast one vote a day at www.partnersinpreservation.com or at seven Peet’s Coffee & Tea kiosks). [more...]

Some of the sites in San Francisco that are on the ballot: Roxie Cinema, Bayview Opera House, Haas Lilienthal House, and Streetcar #798.

Residents can vote on historic sites [Examiner]
Partners in Preservation [official site]

Praying for a sale: Home sellers bury St. Joseph statues

Nope, it's not April 1st... Apparently some folks have taken to believing that Saint Joseph, the patron saint of laborers and house hunters, will help their home sell...

From today's USAToday.com,

Judy Moore knew she was going to have trouble selling the home with the really steep driveway. For help, she turned not to an advertiser or a fellow real estate agent, but to someone she hadn't used since the last slowdown in the housing market: St. Joseph.

She buried a figurine of the Roman Catholic saint upside down in the home's yard. And soon, sure enough, she had her sale.

"I've seen all different kinds of markets, and I do believe pulling from whatever powers I can to make it work," said Moore, an agent in the Boston suburb of Lexington. "Sometimes just baking bread doesn't do it anymore." [more...]

Or you could just pay attention to your local market, hire a good agent, and price your property correctly the first time...

Praying for a sale: Home sellers bury St. Joseph statues [USAToday.com]

Reduce your home insurance costs

From Marketwatch.com,

Home insurance rates are rising around the country, as evidenced by rate hikes by several major firms in Florida this week. But there are ways to economize. The Insurance Information Institute offers several simple steps to lower your home insurance rates:

Consider increasing your deductible, the amount of money you must pay toward a loss if you ever have a claim. Higher deductibles usually mean lower premiums.

Consolidate your insurers by purchasing your homeowners insurance from the same company you buy your auto policy. You might be able to snag a discount.

Make your home safer. Security and safety systems such as deadbolts on doors, burglar alarms, fire extinguishers, smoke detectors and automatic sprinklers make your home more attractive to insurers. Find out whether your company offers a discount for these measures.

Set up an interior inspection with your insurance company. You may be able to get 10% to 15% off if you allow an inspector to review the inside of your home when you sign a new policy.

Find out if your insurance company offers loyalty discounts. If you've been with the same insurer for a certain number of years, you may be able to get a reduced premium.

Let your insurance company know if you don't smoke. Some insurers offer discounts to nonsmokers.

Shop around when looking for a new policy. It's much easier to compare prices these days. Many state insurance departments offer price comparisons for major insurance companies.

Reduce your home insurance costs [Marketwatch.com]
Ways to Avoid Getting Dropped By Your Home Insurance Provider [SFHomeBlog]
Surge in Home Prices Leaves Homeowners Underinsured [SFHomeBlog]

South Beach/Mission Bay block party this Sunday!

Yeah, late notice... But I only just found out about this myself! Hopefully you aren't reading this on Monday morning...

The Bay Area Association of Disabled Sailors (BAADS) is organizing this annual event, the 2006 South Beach/Mission Bay Block Party.

From SouthBeachMissionBay.com,

Please join us for this fun-filled event along SF’s Historic South Beach Harbor promenade. Visit over 30 Exhibitors and Attractions plus water activities and games including the Digital Story of South Beach and Mission Bay - A Historical perspective, and a demo of www.SouthBeachMissionBay.com. Listen to live music from two bands. Enjoy a Delancey Street Barbecue lunch ($10 in advance, $15 day of event). Donate blood at the UCSF Bloodmobile. Board the SF Fireboat. Take a tour around Treasure Island at 4pm aboard the USS Potomac ($20 per person). Children’s storytelling. Photo exhibits. Dedication Ceremony for the new South Beach Harbor Services Bldg. 12 noon to 4pm. South Beach Harbor , Embarcadero/King Street between Pier 40 and AT&T Park.

I also stumbled upon the calendar on SouthBeachMissionBay.com... Wow! Not even the Giants schedule is this full of activities. There's literally something happening down there for residents every night of the week.

Anybody want an Earthquake Cottage?

A guy on craigslist today has what he is calling an earthquake cottage, and wants to get rid of it.

If you have space on your property (and you don't think your neighbors will care), you might want to give him a call!

Earthquake Cottage (bernal heights) [craigslist]
The rent was $2 a month, gave quake refugees a roof [SFHomeBlog]

Dwell on Design - Starts Friday

From the Dwell web site,

Experience architecture through the lens of prefab, sustainability, affordability and urban design. Dwell on Design Conference + Exhibition takes place in San Francisco’s Concourse Exhibition Center during the heart of the AIA’s third annual Architecture and the City month. All Dwell on Design conference attendees will be eligible to receive AIA continuing education credit. [more...]

Dwell on Design—Coming to San Francisco! [Dwell]
Architecture and the City - Tours and Parties! [SFHomeBlog]

Support Open Space Downtown

From Left In SF,

The SFBC is proud to support efforts to create new, much-needed public space in the heart of downtown. We’d appreciate your support this Thursday at a public hearing to support the creation of an 18,000-sq. foot car-free space on Jessie Street between 5th St. and Mint Street (just off Mission & Market Sts.).

If passed, this street would be converted to pedestrian-only space to be used for live music, cafes, and a green refuge in the otherwise paved downtown. To support this effort, come to the hearing at the Planning Commission this Thursday, September 14 in Room 400, City Hall at 3pm. To find out more, including where to send letters of support, see www.mintplazasf.org.

Support Open Space Downtown [Left In SF]
Mint Plaza [official site]

The Best (or worst) Week of 2006

Depending on who you ask, this is going to be the best week in 2006 for San Francisco Real Estate.

If you're a buyer, of course...

For some reason, agents and sellers have gotten it in their heads that dumping their inventory on the market the weekend after a holiday is the way to get the job done.

I say that buyers need to take note and get busy this week.

Why?

I track weekly trends from the MLS, and for this past week (compared to all other weeks in 2006), we see the following:

Greatest number of new listings in one week in 2006

Largest inventory on a broker’s tour in 2006 (today)

Fewest number of contingent properties in one week in 2006

Fewest number of pending properties in one week in 2006

Fewest number of sold properties in one week in 2006

Overall, I'm also seeing:

New record high inventory for 2006

New low for currently pending properties in 2006

This is for single family homes, condos, TICs, lofts, and 2-4 unit buildings in districts 1-10 in San Francisco.

For those naysayers and bubble prophets, I'm still not worried about the market. But you'll also notice that I wasn't crazy enough to have any listings on this week. I did my business back in August. And did just fine. Sold two properties with multiple offers in only a couple of days.

We'll see that this week, too, but only for the cream of the crop.

And I'll be back with listings in 3-4 weeks after this chaos dies down.

And there are still LOTS of buyers out there. And they're willing to pay fair prices for good properties. But that's it. And this is the real estate version of 'fair' not the bubble-blogger version of 'fair'. It's also not the "my neighbor got $X, so I want $X + 15%" type of market. That won't fly, either. Smart sellers with good agents get exactly what they should. A good price for a properly marketed property in a short period of time.

So you can be a happy seller, you just have to do it properly, and LISTEN TO YOUR AGENT.

And as a buyer, don't wait too long this fall. The majority of our fall inventory has just hit. It will be all be piece-meal for the rest of the year with lower weekly numbers of new listings.

And for those that think this is just a continuation of perpetually rising inventory, that's not the case at all. Inventory has been dropping since just after Memorial Day with a one-week exception (that's right) the weekend after July 4th. Same goes for the number of properties on our broker's tour.

Difference is, through all of this, the number of sales has been steady. Which brings me back to what I said above. Buyers shouldn't take this as some sign that the sky is falling. This is called OPPORTUNITY.

So if you're a seller who has dug your heels in on an inflated price, and you've been on the market for 45 days, it's time for a dose of reality. The market is not going to be kind to you this month. Plus, you've got all of this competition to deal with.

My suggestion? Stop muddying the waters with your speculative sale. If you don't need to sell, don't sell. You won't get what you're asking for if you have been on the market for more than a week, anyhow.

The naysayers can try to pick me apart on a percentage point here and there, but I've been right all year long, no? Sales have been steady, prices are rising, and the market is just fine for the majority of buyers and sellers. And we have a much more balanced market, which is good for almost everyone.

There's nothing for me that says that any of my clients have anything to worry about. Even the ones who bought in 2005.

Perception & the media versus reality [SFHomeBlog]

Who's going to work for the DBI, now?

Turns out Amy Lee has created (and a oversight panel has approved) a set of ethics guidelines for employees of the department of building inspection.

Problem is, if you have folks who like what they do because they like owning property and like fixing up property, her new rules may leave the department with a bunch of folks who don't know about the business or care about their jobs.

Is there an easy answer here? No way. One or two bad eggs have apparently spoiled it for everyone, but an already struggling city department is likely to suffer some employee losses at a time when it can least afford to.

From today's Chronicle,

San Francisco's Ethics Commission voted Monday to push forward conduct codes meant to stop city building inspectors from moonlighting as real estate developers.

In a 5-0 vote, the commission gave initial approval to rules submitted last week by Amy Lee, acting director of the San Francisco Department of Building Inspection. The guidelines allow building inspection employees to buy real estate in San Francisco, but prohibit them from directly or indirectly engaging in construction or remodeling work unless the employee or a family member owns and lives at the property.

The ethics standards also stop employees from buying property in San Francisco if it is under department review or has been within the previous 12 months, or if the employee has provided direct services for that property within the past year.

The new regulations, required of all city departments under a 2003 measure approved by voters, will now be presented to unions and eventually return to the Ethics Commission for a final vote.

Lee estimates that about a third of her 298 employees have an ownership interest in property other than their residence. [more...]

That's like telling a computer geek he can only have one computer and if he considers buying others, he's not allowed to add any additional software or make them work to his liking. Or a car fanatic who can purchase a car with a bad engine, but he's not allowed to make it run. And as you might imagine, a new car is not something a car collector would be interested in, anyway.

It's true that some of these employees could (or could have) taken unfair advantage of their positions, but this may be cutting off one's nose to spite one's face.

Those of us who own property and who have fixed up properties in the past know that there's no way to own a property without fixing it up. It's just not humanly possible. So in essence, the city will now be creating a group of deadbeat landlords, who will not be able to (no matter how badly they want to) create better living conditions for their tenants.

I'm sorry to hear that rather than just getting rid of the people that have done wrong, that they're punishing everyone, and in the process screwing the whole department out of ever being able to hire competent, passionate inspectors.

Ethics panel OKs rules for building inspectors [SFGate]
Panel OKs DBI ethics rules [Examiner]
More problems at DBI [SFHomeBlog]
DBI turns up heat on scofflaw landlords [SFHomeBlog]

The dream house of the future

From today's Chronicle, a little food for your remodeling thoughts...

It's the dream home for the environmentally conscious geekerati.

An entertainment system managed by a remote control that can also cruise the Internet. A shower that can be programmed with six temperatures and settings. Solar panels that help power the home's high-tech appliances and gadgets. And all of it set in a modern, ranch-inspired house tucked in the East Bay hills.

Sunset and Popular Science magazines teamed up to develop the $5 million home, built from the ground up over the past year. It opened for public tours on Friday, and is expected to draw 20,000 to 30,000 visitors before it closes in early November and is sold.

Dubbed the "House of Innovation," the 6,500-square foot, five-bedroom house in Alamo showcases the latest technology and underscores how it has increasingly become infused in our daily lives. [more...]

For more information: www.sunset.com/hof.

The dream house of the future - A $5 million, gadget-filled home opens for public tours [SFGate]

Noe Valley May Hold Its Own, Housing Experts Say

From the September Noe Valley Voice, "A panel of local experts put this [real estate] slowdown into historical perspective and discussed the present and future outlook for housing in Noe Valley at a July 19 forum cosponsored by Friends of Noe Valley and the Noe Valley Democratic Club."

B.J. Droubi, whose real estate company has been in Noe Valley since 1972, looked further back in history and described three downturns: 1979-81, when interest rates were at an historical high: 1992-97, when there was a recession and the market was flat; and now, when the market is reaching the end of another business cycle.

But she ticked off a host of reasons why Noe Valley might be relatively immune to strong fluctuations: "Noe Valley is in the center of the city; it has the most attractive route to the Peninsula and Silicon Valley; it has some of the best housing stock; there's an incredible diversity of homes and diversity of incomes; it has a great quality of life. Noe Valley holds its value quite well," she concluded.

There are larger reasons for stability as well. "The economic base here is very stable," argued Randall Kostick, manager of Zephyr Real Estate. The Bay Area is a gateway to the growing economies of the Pacific Rim and Far East, and there are diverse and relatively strong industries: tourism, finance, high-tech, and biotech, he pointed out.

Kostick said the market cycles had not been all that dramatic here. In the downturn of the early 1990s, when there was as much as a 50 percent decline in housing prices in parts of California, the decline in Noe Valley was only 11 percent, he said. Even in the dot-com bust, when 300,000 jobs were lost in the Bay Area, he added, the housing market didn't suffer significantly. [more...]

Noe Valley May Hold Its Own, Housing Experts Say [Noe Valley Voice]
The Cost of Living in Noe - September 2006 [Noe Valley Voice]
Significant chunk of unbuilt land in Noe Valley seeks permit [SFHomeBlog]

Tax may pay for undergrounding wires

From today's Examiner,

Officials solicit residents’ input on proposal after CPUC funds run out

With no money left to put telephone and other utility wires underground, The City is contemplating a tax to fund future undergrounding projects.

Residents have until Friday to weigh in on whether San Francisco should implement a utilities bill tax ranging between 2 percent and 5 percent. Only businesses pay a utilities tax, which is 7.5 percent of their utility bill.

The City's Utility Undergrounding Task Force has created an online survey to gauge residents’ sentiment, and the task force will use the results to determine whether to move forward with a tax proposal. The online survey asks whether participants would support a $2 to $4 per-month surcharge on their monthly Pacific Gas and Electric Co. bill to pay for putting utility lines underground.

Dan McKenna of The City’s Department of Public Works said the tax would be levied against those who receive a utilities bill and that it would tax electrical, and possibly gas, usage.

Over the past 40 years, the Department of Public Works has undergrounded 450 miles of the approximately 900 miles of roadways in San Francisco, McKenna said.

The northeast side of San Francisco, including Nob Hill, has most of its utilities already undergrounded. The Sunset and Richmond neighborhoods have the fewest undergrounded utilities.

In these neighborhoods, Supervisor Bevan Dufty, who created the underground-utilities task force, said he would rather see trees than telephone poles. Also, Dufty said there are “a lot of the beautiful vistas” on the west side of The City “clogged up with these wires.”

The benefits of undergrounding not only improve an area’s aesthetics, but also ensure power outages do not occur when there are high winds, McKenna said. [more...]

The survey can be found at http://www.sfgov.org/uutf.

From a resale perspective, the potential cost of up to $2000 per household is a fantastic investment. Even if you don't have a view which would be improved by the undergrounding of the wires, just the improvement to the streetscape is benefit enough.

Utility Undergrounding Survey [SFHomeBlog]

Links from today's Examiner

Apologies for the lack of posts lately. Just back from a nice little vacation...

In any event, the Examiner has three pieces worthy of links today:

Condo permit odds toughen
A revised lottery that now gives priority to those who have waited longest to convert apartment units into more profitable condominiums has decreased the odds for new participants in the system, city statistics reveal.

Condos planned north of zoo
The proposal for the 2800 block of Sloat Boulevard, between 46th and 47th avenues, calls for three new mixed-use five-story buildings standing 60 feet, dozens of condominiums and 26,000 square feet of ground-floor retail space.

Officials, organizers expect five concerts at McLaren Park
A quintet of concerts expected to draw about 300 people per day and planned for next year at McLaren Park’s Jerry Garcia Amphitheater ran into a slight roadblock Wednesday, but city officials and organizers say chances are good the shows will come off as planned — although whether they will be free is still up for debate.