FED HOLDS FEDERAL FUNDS RATE AT 5.25 PERCENT

C.A.R. Newsline reports:

"The Federal Reserve's Federal Open Market Committee today announced it would maintain the target for the federal funds rate at 5.25 percent. This is the fifth consecutive month the committee opted to keep the key rate unchanged, following gradual increases from 1 percent to 5.25 percent between June 2004 and July 2006. The federal funds target rate is the interest rate charged by banks when they borrow funds "overnight" from each other.

In a prepared statement, the Fed acknowledged positive signs for moderate economic growth in the coming months, including the stabilizing housing market, but still cautioned that some inflation risks remain. Future interest rate increases "will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information," according to the statement."

The Federal Reserve Release notes that "recent indicators have suggested somewhat firmer economic growth, and some tentative signs of stabilization have appeared in the housing market. Overall, the economy seems likely to expand at a moderate pace over coming quarters.

Readings on core inflation have improved modestly in recent months, and inflation pressures seem likely to moderate over time. However, the high level of resource utilization has the potential to sustain inflation pressures."

C.A.R. Newsline
Federal Reserve Release

The Other Half...

If you had $11,000,000-$12,000,000, how would you spend it?
















Above, you will find a view from a picture I took from a bed at 2663 Divisadero St. (not a bad view to wake up to every morning, huh?). This home was built 105 years ago and has "old San Francisco" running through it's veins. It's nice and big, but needs some updating. The neighbors live in houses that are at LEAST as expensive as this one. 2663 Divisadero is on the market for $11m and has 5beds/5.5 baths and is 7800 sq. ft.




















Above, you will see the view from the roofdeck of 10 Hastings . This house is on the market for $11,750,000, has 6 beds/6.5 baths and the square footage is not published in the MLS. This home is modern and clean with all of today's amenities. The neighbors homes consist of apartments and condo buildings, making this house the most expensive on the block. It's beautiful and has some AMAZING views, but it's set over several levels so there are a lot of stairs to climb.


What would you do with $11-$12 million?

310 Townsend: New Condo's, little hype

310 Townsend is a new warehouse conversion in Mission Bay that has been quietly under construction for quite some time. The building was seismically retrofitted to include underground parking and 45 Exposed brick and timber condos with arched brick windows. The developers' website boasts:

• Soaring ceilings up to 14’
• Most homes with balcony access
• Flowing hardwood floors
• Exposed brick walls and timber beams
• Studio Becker European built kitchen cabinets with granite counter tops
• Bosch stainless steel appliances
• Kohler bathroom fixtures with contrasting limestone counters

There is not a price list or floor plan on the developers' website and suprisingly this particular project has not received as much press as many other new developments in the neighborhood. We happen to be fans of brick conversions and the bustling neighborhood, so if anybody has further info., please share!

[update: We now have a price list, but since almost every unit has a different price, it's too much info. to publish here. We'd be happy to share it all however, just ask. So that you have an idea; the lowest priced 1bed/1bath is $525K and the highest priced 2bed/2bath + den is going for $1.296m.]


310 Townsend [Santa Fe Partners]

Limited Single Family Inventory

Typical trend at the beginning of a year is to have very little choice. Currently, there are few active single family homes. Here is a peak into a few of the neighborhoods' active single family inventory:

Potrero Hill single family homes for sale (3)

Noe Valley single family homes for sale (4)

Glen Park single family homes for sale (4)

Bernal Heights single family homes for sale (14--ok, that's a decent selection)

Marina single family homes for sale (6)

Pacific Heights single family homes for sale (8)

Hayes Valley single family homes for sale (0)

SOMA single family homes for sale (1)

The Potrero; Update

From the folks at The Potrero :

Priced from the low $400,000s, The Potrero offers a rare blend of studios, one and two bedroom flats and two and three bedroom townhomes. Many homes offer sweeping city views and private balconies and every home boasts an open, modern design with the latest designer finishes like Studio Becker cabinets and drawers, stainless GE Profile appliances and granite countertops.

As a resident of The Potrero, you'll enjoy a private, residents-only state-of-the art Fitness and Strength Center, a private Pilates Studio, dramatic landscaped courtyards and San Francisco's largest Whole Foods Market, all within the building.

Enjoy an established neighborhood with haute cuisine, bookstores, antiques and nightlife right at your doorstep. With brewers, chefs, poets and painters for neighbors, you'll have plenty of inspiration to get creative with your very own new home.

Our complete website will launch shortly showcasing even further details and the Sales and Design Center opens in February.

The Potrero! [gtwice.blogspot.com]

3rd St Light Rail

Jan 13th weekend service begins! At long last we've got a 3rd St Light Rail. Here's some news about closures this weekend due to testing:

From the SF Chronicle:
-- Drivers along the Third Street corridor should expect some delays this weekend as Muni closes two bridges at varying times to test its new light rail service.

The Third Street light rail -- or T-Third -- will connect San Francisco's southeast neighborhoods to Muni's Metro system, and will begin introductory weekend service Jan. 13. The line will run weekends only until April 7, when full service begins.

This weekend, the Municipal Transportation Agency, which oversees Muni, will close Islais Creek Bridge and the 4th Street Bridge for several hours on both Saturday and Sunday to test the new line.

Islais Creek Bridge, located on Third Street between Cargo Way and Marin Street, will be closed from 7 a.m. to 5 p.m. Saturday and 7 a.m. to 12 p.m. Sunday, according to Muni. The 4th Street Bridge, just south of AT&T Park, will be closed from 12 p.m. to 5 p.m. on Sunday.

Additionally, the 15-Third bus will be rerouted during the closures.

For more information, visit www.sfmta.com or call 415-673-MUNI.