Weekend Events and the Weekly Real Estate Update

Sunday the annual Bay to Breakers race takes place. With a starting point near the San Francisco Bay, a few blocks from The Embarcadero, the 12K race runs west through the City and finishes at the Great Highway where breakers crash onto Ocean Beach. In-person registration is available at the Orig3n Health & Wellness Expo at Pier 35 today and tomorrow. Click here for more information. Also on Sunday, the Western Conference Finals continue as the Golden State Warrior take on the Houston Rockets starting at 5 PM. This will be the third game in the seven game series, which is currently tied at one win apiece.

On the “Homes for Sale in San Francisco” front, here’s our report for this week, 5/13/18 – 5/19/18

Should You Buy Earthquake Insurance?

Hill & Co. Sales Manager Jill Gumina was quoted in the San Francisco Chronicle recently, this time responding to the question “Do you recommend earthquake insurance?”

Here’s what she had to say:

“Earthquake experts agree it’s not a matter of if but when regarding a Bay Area earthquake of significance, so consider the following:

Has the home been retrofitted to withstand even moderate shaking? If not, can you afford to take necessary steps to reinforce your home now? Location near a fault is irrelevant. As we saw from the Napa earthquake in 2014, your property doesn’t need to be on or even near a fault to sustain severe damage.

Would losing the home or having heavy damage cause catastrophic financial ruin? Most earthquake policies charge very high premiums of thousands of dollars. The deductibles are 10 to 20 percent of the value of the structure. On a $1 million Bay Area home, that could mean $100,000 to $200,000.

But most importantly, how much home equity do you have? Owners with less than the deductible have little to lose. If your equity is 30 to 50 percent or more than the deductible, consider coverage because your loss would be so much greater in a severely damaging event. Speak with a trusted insurance advisor to help you make a sound decision.”


Guess Who Has the Third Most Billionaires in the World

The global billionaire population soared to record levels in 2017, and more of them are living in the Bay Area than ever before.

The San Francisco area now has the third-most billionaires of any region in the world — 74 in total — rising two places in the rankings and overtaking both Moscow and London, according to a 2018 billionaire census released Tuesday. New York and Hong Kong took the top two spots for number of billionaires with 103 and 93, respectively.

The San Francisco metropolitan area — which includes San Francisco, Alameda, Marin, Contra Costa, and San Mateo counties, and in this study some towns in Santa Clara County — saw an additional 14 individuals attain billionaire status in 2017.

To read the entire sfgate.com report, please click here.

Bay to Breakers Sunday: Online Registration Ends Tomorrow

There are tons of things going on this weekend, but on Sunday the annual Bay to Breakers race takes place, and since there are tens of thousands of people participating in the 7.6 mile footrace, that has our attention.

With a starting point near the San Francisco Bay, a few blocks from The Embarcadero, the 12K race runs west through the City and finishes at the Great Highway where breakers crash onto Ocean Beach. A quintessential San Francisco experience since 1912, the race celebrates the City in a wonderful (and yes, often wacky) way. It’s fun for runners and spectators alike.

It’s not too late to sign up, but you might want to do that today. Online Registration will close at 11:59 PM tomorrow. In-person registration will be available at the Orig3n Health & Wellness Expo at Pier 35 on May 18-19. To register online, click here. Then run like crazy on Sunday. Endorphins await!

Self-serve Beer and Live Music: Ghirardelli Square’s Newest Spot

San Francisco Brewing Co.’s massive, 12,000-square-foot brewery and restaurant is now open, serving up beer and a menu of pub-style food to locals and tourists alike. According to sf.eater.com, owners Jennifer and Josh Leavy and Josh’s brother Aaron Leavy brought on former Gordon Biersch brewer Justin Boehle to oversee the production at their new brewery, which is incorporated into the taproom.

Chef Abraham Ibarra (Perry’s) is in charge of the food, which includes pizzas, salads, sandwiches, and mains like mahi mahi tacos. Appetizers seem like a sure bet, with meatballs, spicy wings, and burrata with pesto also on the menu.

The enormous space was designed by BCV Architecture + Interiors, also behind the Ferry Building Marketplace, Gott’s, and Oxbow Public Market in Napa. The space represents two firsts for the City: as a licensed full-time outdoor music venue, and as a place with a self-serve beer wall where you can sample different beers. Game tables like foosball and ping pong are scattered throughout the restaurant. You can drink beer in the sunny outdoor beer garden, and if the fog rolls in, there are plenty of fire pits to keep you warm.

We’ve always liked Ghirardelli Square, and San Francisco Brewing Co. makes it even better. For more information on the brewery and restaurant, and to see photos, please click here.

The Western Conference Finals: The Series Starts Tonight

This is the series for which we’ve waited all year. And this is the game for which we’ve waited all week. The Golden State Warriors take on the Houston Rockets in the first game of the best of seven series tonight at 6 PM.

We are so ready for this game!

Ann Killion, with the San Francisco Chronicle, describes it perfectly in a column published yesterday:

“For the first time in the Steve Kerr era, the Warriors will start a playoff series on the road. In an antagonistic arena. Prepping for the game in hotel rooms and visiting locker rooms. Booed at every turn.

The Warriors knew this was going to be their reality from about the All-Star break on. They settled for not being the top seed as they navigated through injuries, slumps and their own occasional lack of interest in the regular season, while Houston played out the regular season with a higher level of determination. Kind of like the Warriors used to, when they were young and cute and ringless.

Whenever asked about losing home-court advantage, the Warriors shrugged, like it wasn’t that big a deal. That’s a quite different posture than they held the previous three seasons, when gaining the top seed was always listed as one of the team’s top goals.

But this Warriors team is experienced. It knows the drill. This is the (yawn) fourth consecutive deep playoff run.

Starting out in a hostile arena may give them an edge that the Warriors will need to get past talented Houston.

The Warriors appear unstoppable when they are locked in and highly motivated. And what better way to lock in than to have 18,000-plus people hating on you?”

Houston is ready. The Rockets are ready. Golden State is ready. And we are absolutely ready! Let’s get this thing started!

Weekend Events and the Weekly Real Estate Update

Weekend Sessions presents admission-free performances at the Yerba Buena Gardens Festival. The programs range from music, dance, circus, and theater to cultural festivals from May through October. Innov Gnawa and Book of J perform this Saturday from 1 to 3 PM. Meanwhile, SFMade opened on Monday, and concludes on Sunday. It features factory tours, demos, shopping events, and lots of beer tastings. For more information about SFMade and a complete list of what’s taking place this weekend, click here.

On the “Homes for Sale in San Francisco” front, here’s our report for this week, 5/6/18 – 5/12/18

How Higher Education and Incomes Are Impacting Housing

In a recent San Francisco Chronicle column, writer Kathleen Pender posed this question: “If people are fleeing the Bay Area for cheaper housing, why is it still so costly?” It’s an excellent question, given that we are constantly hearing that people are leaving town for that very reason.

If you look just at domestic migration — people moving around the country — the Bay Area lost about 46,000 people more than it gained during the year that ended July 1, according to U.S. Census Bureau estimates released March 22. That net loss was nearly twice as big as the previous year and marked a turnaround from earlier years, when more people were coming to the Bay Area than leaving.

However, net immigration — people coming from and leaving for other countries — is still positive in the Bay Area. About 58,000 more people came here from abroad than left last year, surpassing the nearly 46,000 who decamped for other states. (The census estimates included the nine-county Bay Area and three neighboring counties.)

People moving into the state are higher-income and better educated. They’re much more likely to pay state income tax and better able to afford a home in California, which had the nation’s highest median price in 2016. In the Bay Area, housing creation has lagged far behind population growth, which is why home prices and rents are climbing and people are commuting longer distances to work.

In short, the tech boom has resulted in a housing squeeze to be sure. The challenges are very real, and yet, it’s good to know that many of the world’s brightest people still come to the Bay Area to be a part of the extraordinary things that are going on here.

Yerba Buena Gardens Festival: Free Weekend Performances

Yerba Buena Gardens Festival is an independent nonprofit presenting six months of admission-free performances reflecting the rich cultures and creativity of the Bay Area. Programs are outdoors, family-friendly and ADA accessible.

Weekend Sessions present programs that range from music, dance, circus, and theater to cultural festivals from May through October. They take place on the Esplanade, Mission Street between Third and Fourth Streets.

For a complete schedule of performances and events by week and month, please click here.