SAN FRANCISCO HOMES THIS WEEK: WEDNESDAY, SEPTEMBER 20, 2017

WEEKLY SALES MAP

See what sold during the week using this interactive map. It will show you where the home was located, the listing price, the sold price and how many days it was on the market.

« Click here to see this week's map

Single Family Homes - 34 Sold
• Median Sale Price: $1,500,000
• 30 Sold OVER Asking Price
• 3 Sold UNDER Asking Price
• 1 Sold AT Asking Price
• There are currently 369 Single Family Homes on the market

Condos/Lofts/TICs - 24 Sold
• Median Sale Price: $1,350,000
• 12 Sold OVER Asking Price
• 8 Sold UNDER Asking Price
• 4 Sold AT Asking Price
• There are currently 656 Condos/Lofts/TICs on the market
*Source: San Francisco Association of Realtors®

REPORTS AND UPDATES
 
Quick Note: The World's Most Valuable Asset Class — Real Estate



HSBC just released a report, distributed at a recent conference, which looks at real estate worldwide.

Global real estate is a more valuable asset class than all stocks, shares and bonds combined. Residential property had a combined value of $168.5 trillion in 2016, and high quality commercial property had a combined value of $32.3 trillion. The value of all gold ever mined throughout history pales in comparison at only $6.5 trillion.

In advanced economies, real estate is a big part of personal and household wealth. As more people grow wealthier in new and emerging economies across the globe, they seek to buy real estate as an investment.

The report profiles 12 global cities, and here's what it has to say about San Francisco — largely a familiar story to those of us who live here:

"San Francisco is attracting large numbers of young professionals, tech entrepreneurs and other creative people. It has seen an increasing number of successful people migrating out of Silicon Valley in search of an urban, rather than suburban, lifestyle. People from all over the world choose to make San Francisco their home."

"A small city, just 46 square miles in size, its compactness and walkability is central to its appeal, but also means that new housing delivery is restricted by a very limited supply of land. Hayes Valley, the Mission District, Mid-Market and SoMa have seen an influx of tech firms, pushing up commercial rents and in turn demand for residential property."

"Of all the world-class US cities, San Francisco has experienced the highest growth since 2008."

Mortgage Update: Unwinding Qualitative Easing Could Be Tricky



The big looming interest rate question is when and how the Fed will shrink its $4.5T balance sheet of Treasuries and Mortgage Bonds. The key issue that the Federal Reserve faces is the reversal of Quantitative Easing (QE). QE was designed to drive down rates and stimulate economic growth and resulted in a nine-fold increase to the Fed's balance.

QE was a financial "experiment" never before seen. Unwinding it will also be an "experiment." All we know is that the Fed, which was a buyer of Bonds for so many years, will ultimately become a "seller." We don't see how mortgage rates don't go up over time as this starts to happen and it could happen very soon.

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 TWood@TerraMB.com or through his website http://www.tinyurl.com/Tim-Wood-Loans.

INTEREST RATES THIS WEEK

Conforming Loan Rates
30 Year Fixed    3.875%    « calculate mortgage at this rate
7/1 Year ARM    3.370%    « calculate mortgage at this rate

Jumbo Loan Rates
30 Year Fixed    3.750%    « calculate mortgage at this rate
7/1 Year ARM    3.000%    « 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 TWood@TerraMB.com or through his website http://www.tinyurl.com/Tim-Wood-Loans.