U.S. Home Sales Projected to Reach Decade High in 2016

U.S. home sales should climb in 2016 to levels we haven’t seen since the last housing boom — with millennials leading the charge — as continued economic prosperity appears to be on the horizon.


In its 2016 Housing Forecast, Realtor.com projects that new and existing home sales will reach 6 million in 2016, the highest level since 2006. According to the report, home starts will see a 12 percent annual uptick, while sales of new homes will grow by 16 percent year over year. Home price appreciation will moderate to 3 percent next year, which Realtor.com Chief Economist Jonathan Smoke says signifies that the housing market is normalizing.

Millennials — defined here as those ages 25-34 — are expected to make up the largest percentage of homebuyers in 2016, spurred on in part by growing incomes. Generation Y buyers are most concerned with neighborhood safety and home-construction quality, and they also want a reasonable commute.

Having rebounded from the recession, Gen Xers on the younger side of the spectrum (ages 35-44) will account for the second-largest pool of buyers. Two-thirds of this demographic are move-up buyers and will be trading up for a larger property or a nicer neighborhood.

Older Americans ages 65-74, the third-largest projected buyer demographic, will look to do the exact opposite, selling their spacious homes for smaller, newly constructed ones. These homeowners are expected to put their properties on the market in March or April and will place an emphasis on customization when searching for their next home.

Realtor.com predicts the U.S. economy’s health to hold in 2016, with the GDP increasing by 2.5 percent, up from 2.1 percent growth in 2015. Unemployment will decline from 5 percent at the end of 2015 to 4.8 percent by the end of 2016, while the number of jobs created — 2.5 million — will remain roughly unchanged. The forecast warns that tougher access to credit and rising home prices could ultimately stifle demand for housing and temper the benefits of the thriving economy.

(Photo: Flickr/Sean Creamer)

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Where to Eat on Christmas Day in San Francisco

union square at Christmas

You mailed the cards, went to the parties, wrapped the presents, baked the cookies, decorated the tree…and all you want to do is enjoy a nice meal on Christmas Day without lifting a finger. The only problem is that most places in SF close on December 25, so hard-working employees can take a much-needed day off. However, there are a few great restaurants open (and they’re not even all in hotels!) where you can get everything from an affordable burger to a fancy filet. The only catch? You’ll have to change out of your pajamas.





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Source: http://sf.eater.com/maps/san-francisco-christmas-day-restaurants-2015/



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Fans angry over fight for Adele concert tickets

adele photo

(CNN) — If you weren’t able to score Adele concert tickets, you are not alone.

As tickets for the British songstress’ “25” North American tour went on sale Thursday, social media was filled with disappointed fans who used a popular refrain from her hit: “Hello from the other side; I must have tried a thousand times.”

Heading over to reseller StubHub won’t make you feel better.

Tickets there cost several hundred dollars to several thousand. The prices for those lucky enough to score from Ticketmaster or the diva’s site found prices ranging from $39.50 to $149.50.

Wednesday’s presale gave fans a glimpse of how in-demand the tickets are.

Those who registered for Adele.com were emailed a presale code to try to nab tickets early.

The struggle for Adele tickets is real, and not everyone was successful in their quest. One fan shared the stress with a cry of “Someone give me a Xanax and a shot of tequila.”

Adele’s 56 North American tour dates will kick off in St. Paul, Minnesota, on July 5 and end November 15 in Mexico City. It will be her first tour on this side of the pond in four years.

Adele announces her North American tour

The excitement was heightened by Monday’s NBC concert special “Adele Live In New York City.” Deadline reported that 11.2 million viewers tuned in, making it the network’s most-watched concert special since the “Cher Farewell Tour” lured more than 16 million viewers in 2003.

Even celebs were freaking out over the special, with actor David Arquette tweeting, “I’m already crying and it’s just @adelle show intro.”

The singer is clearly on a roll. Her new album, “25,” has sold more than 5 million copies and is the top seller of 2015. Her appearance on Jimmy Fallon’s late night “Tonight Show” went viral, as did her stint as a musical guest on “SNL.”

Adele mania started in October when she debuted the album’s first single, “Hello.” The video has over 720 million views on YouTube.

Billboard reported that her team’s strategy to stop scalpers during the presale for the European tour led to a few glitches.

Her camp has sought to cut down on ticket sales via secondary sites by carefully screening buyers via her site and its partnership with Songkick.

European fans complained of long wait times and site crashes.

Source: http://www.cnn.com/2015/12/16/entertainment/adele-presale-concert-tickets-feat/

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Remodeling Your Home? Start With the Kitchen and the Roof.

If you’re planning interior and exterior renovations in advance of putting your home on the market, upgrading the kitchen and the roof may be the smartest calls, according to results of a new survey.  And even if you intend to stay put, the right home remodeling jobs can increase your satisfaction and quality of life.


In its 2015 Remodeling Impact Report, the National Association of Realtors used poll results from HouseLogic.com and its own members to determine the home renovations that appeal most to buyers and add the most value. The report offers perspectives on 20 common interior and exterior remodeling jobs and assigns each with a JoyScore from 1 to 10, representing the owners’ level of satisfaction with the results.

Kitchen upgrades and complete kitchen renovations topped the list of remodeling jobs that appeal most to buyers and are likely to deliver the most value upon resale. Nearly 60 percent of real estate professionals surveyed suggested that their clients upgrade the kitchen before attempting to sell, compared with 17 percent who recommended total kitchen overhauls.

NAR estimates that the average kitchen upgrade costs $30,000 and would recoup 67 percent of its value at time of resale. Kitchen upgrades earn a JoyScore of 9.4, with 82 percent of owners reporting a greater desire to be at home after completing the job.

Complete kitchen renovations are of course more expensive, with the average project costing $60,000 and also recovering 67 percent of the job’s value. Full kitchen overhauls receive a JoyScore of 9.8, with 90 percent of owners saying that the remodel makes them want to stay home more.

Turning to the home’s exterior, a new roof was the renovation projected to appeal most to buyers and add the most value. New roofing is a sound financial investment, with the average $7,600 job recouping 105 percent of its value. Nearly half of real estate professionals surveyed recommended that their clients replace the roof before attempting to sell their home, with the job earning a JoyScore of 9.6.

Even if you’re not planning to sell your home in the near future, NAR says that you can still reap substantial benefits by undertaking a remodel. Nearly two-thirds of onwers reported increased enjoyment with their home after a renovation, and three-quarters said they felt a sense of major accomplishment when the job was done.

“Realtors know that remodeling projects aren’t just done to get more money for a home once it’s time to sell — a home is your sanctuary, the place you raise your family and where you make lifelong memories, which is why the report can also help consumers decide which projects could enhance their current quality of life and happiness,” NAR President Tom Salomone said in a blog post accompanying the report.

(Photo: Flickr/Chriss Knisley)

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Winter Storms Are Coming. Are You Ready?

leaves in roof gutterWhen was the last time you checked your home’s gutters and downspouts to make sure that they are clear of leaves and debris? What about storm drains on or near your property? The heavy rains projected to soon pummel the Bay Area are a wake-up call for homeowners to be prepared for stronger storms coming in the months ahead.

There is no debate about the strength of the El Niño weather patterns this winter: There will be lots rain and flooding. But forewarned is forearmed, and the steps you take now will greatly improve your chances of weathering the storms high and dry.


  • About those gutters and downspouts: Clean them out and then do it again after the next heavy rain. Check to make sure they are tight against the roofline. Check storm drains periodically.
  • Consider a quick touch-up paint job if the exterior wood trim is cracked. Cracks can carry water into the wood and promote dry rot.
  • Invest in a generator and, if you have a basement or other below-grade spaces, a sump pump.
  • Check balconies and decks to make sure water flows away from the walls. And make sure your yard drains properly. Place three to four inches of mulch in flower beds and areas where water will drain or collect.
  • The ground may have become compacted during the drought and will repel water initially. Loosen soil by tilling in compost and covering with mulch.
  • Install rain barrels at downspouts to capture water for later use. Make sure you direct the overflow away from the house.
  • Turn off your automatic watering system.
  • Store emergency repair materials such as sandbags and plastic sheeting in a safe, dry place.


  • Make sure your car is running properly. Do the tires have enough tread to drive safely on rain-slick roads? Install new wiper blades. Check your car’s lights, battery, and brakes.
  • Never try to drive through a flood. It takes just 12 inches of flowing water to carry off a small car and 18 to 24 inches for larger vehicles. If you are in your car when the water begins to rise quickly, abandon it and move to higher ground.
  • Put together preparedness and disaster supply kits for your home and car, although hopefully you already have these. We live in earthquake country, after all.
  • Store family items and important documents on the highest level of your home. If you live in a single-floor home, put items on shelves, tables, or countertops. Secure important documents online or on a thumb drive.
  • Do not walk through flood areas; just six inches of water can sweep you away. Make sure your children know to always turn away from floodwaters.


The California Department of Water Resources is responsible for flood-safety preparations in the state and has an excellent website that explains the dangers we face and the resources to help us recover. Make it your first stop online.

When inclement weather approaches, check out the National Weather Service’s Bay Area forecast website for a summary of current conditions and forecasts, detailed maps, preparedness information, and useful links. And for an explanation of what El Niño is all about, visit the NOAA El Niño Portal page.

The American Red Cross has a free app for your mobile phone or tablet with preloaded information on what to do in the event of flooding and where to find help — especially helpful if cell towers are down and TV service is unavailable.

FEMA’s FloodSmart website is the official site of the National Flood Insurance Program and an excellent resource for information on flood dangers and recovery. One of the interactive tools on the page shows the cost of a flood to your home, inch by inch. Flooding of just six inches in a 2,000-square-foot home, for example, can cost nearly $40,000 — including more than $15,000 for damaged flooring and carpeting alone.

(Photo: Flickr/mtnbikrrrr)

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San Francisco Reclaims Title of Nation’s Hottest Real Estate Market

The Bay Area may be in the midst of a cold-weather snap, but our local housing markets are still among the hottest in the country, with the San Francisco metro area back on top.


Each month, Realtor.com ranks the country’s 300 largest real estate markets to find the 20 hottest, based on the fewest days it takes to sell a home and the most listing views on its website. In November, 12 of those sizzling markets were located in the Golden State, even as activity across the rest of the country begins to cool with the coming of the holiday season.

“We are starting to see more movement (in the ranking) in the hottest markets as the season brings material declines in demand in many markets,” Realtor.com Chief Economist Jonathan Smoke said. “However, California remains hot as pent-up demand continues to drive activity in very supply-constrained markets.”

After losing the No. 1 spot to Denver in October, the San Francisco-Oakland-Hayward metro area was back on top in November, just as it was throughout the summer and early fall. Vallejo-Fairfield ranked as the country’s second-hottest housing market, a gain of three spots from the previous month.

The San Jose-Sunnyvale-Santa Clara metro area fell two positions from October to No. 4 and remains the most expensive of the 20 markets, with a median list price of $859,000. The other California metro areas to make the list are San Diego (No. 6), Sacramento (No. 7), Santa Rosa (No. 8), Oxnard (No. 9), Stockton (No. 10), Los Angeles (No. 12), Yuba City (No. 13), Santa Cruz (No. 17), and Modesto (No. 19). All 12 Golden State cities on the list were also among the country’s 20 hottest in October, although some shifted positions.

Nationwide, homes sold in an average of 84 days in November, a bit slower than in the previous month. Prices also cooled slightly, with the median list price inching down to $230,000.

Homes in certain Bay Area pockets are selling more than twice as fast as the national average: 38 days in San Francisco and 39 days in San Jose. The country’s fastest moving markets are actually located in California’s Central Valley: Modesto (36 days) and Stockton (37 days). The rapid pace of sales in those two markets is perhaps a reflection of increasing buyer urgency, as those priced out of the Bay Area look to the Central Valley for more affordable housing.

(Photo: Flickr/Sudheer G)

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U.S. Home Sales to See Modest Growth in 2016, Forecast Says

A strong job market helped propel the U.S. housing market to its best year since the recession, and activity is expected to further increase in 2016, although rising mortgage rates and tight supply conditions could affect the pace of sales.monopoly_houses_113015

At last month’s 2015 Realtors Conference & Expo in San Diego, NAR Chief Economist Lawrence Yun projected that U.S. existing-home sales will total 5.3 million by the end of this year and will increase by 3 percent to 5.45 million in 2016. According to Yun, the modest uptick in sales will be due to more move-up buyers entering the picture.

“Sales activity in 2016 will once again be primarily driven by the ongoing release of more pent-up sellers finally realizing their equity gains and using it towards the down payment on their next home,” he said.

NAR also points to heightened consumer confidence and job growth — particularly in Western states — as additional drivers of 2016 home sales activity, but it cautioned that more inventory is needed to meet demand and keep prices from rising too high. Although Yun expects housing starts to increase from 1.1 million this year to 1.3 million in 2016, he says that 1.5 million new homes are necessary to meet current demand. Supply conditions have been a particular problem in the Bay Area as the economy has exploded; in October, six local counties had the smallest months’ supply of inventory in California.

Cris deRitis, senior director of credit analytics at Moody’s Analytics and one of Yun’s co-presenters, said that a spike in new-home construction could help attract more first-time buyers to the market, a demographic that is at its lowest level in nearly three decades. Besides a lack of affordable inventory, first-time buyers face competition from investors and are burdened by student loan debt. NAR says that 41 percent of successful first-time buyers are carrying an average debt of $25,000, which hampers efforts to save for a down payment.

A final factor that will impact next year’s sales volume is the interest-rate hike that was projected for 2015 but never happened. NAR expects that the Federal Reserve will begin raising interest rates as early as this month and that they will reach 4.5 percent by the end of next year. For the week ended Nov. 25, 30-year, fixed-rate mortgages averaged 3.95 percent according to Freddie Mac.

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Nearly Half of California’s Job Growth Happening in the Bay Area

google overhead shotAlthough unemployment rates rose across the Bay Area from September to October, our region remains California’s job-growth leader and was responsible for nearly half of the state’s gains last month.

In its latest monthly jobs report, the California Employment Development Department says that the Golden State added 41,200 nonfarm jobs in October, a year-over-year gain of 2.9 percent. Commenting on the data in a separate report, Stephen Levy, director and senior economist of the Center For Continuing Study of the California Economy, estimated that 19,600 of the jobs added in October were based in the Bay Area.

Since the recession ended, California’s economy has created more than 2.1 million new jobs, a growth rate of 14.5 percent, compared with the 10 percent gains recorded nationwide. CCSCE says that all major regions of the state have recovered all of the jobs lost during the downturn except for Sacramento, which should fully recover soon. Bay Area jobs levels are currently 11.2 percent above their prerecession highs, by far the most of any major region in the state.

California’s unemployment rate declined month over month, falling to 5.8 percent on a seasonally adjusted basis in October. Nationwide, jobless claims also declined, to 5.0 percent, fueling speculation that the Federal Reserve could move to boost interest rates next month.

Countering state and national patterns, unemployment rates increased from September to October in all nine Bay Area counties on a nonseasonally adjusted basis, according to the EDD. Despite the increases, six Bay Area counties have the lowest unemployment rates in the state: San Mateo (3.2 percent), Marin (3.3 percent), San Francisco (3.4 percent), Santa Clara (3.9 percent), and Napa and Sonoma (both 4.2 percent).

As Pacific Union noted in last week’s real estate forecast through 2018, the Bay Area’s economy is currently expanding significantly faster than are households. John Burns Research Consulting, our partner for the forecast, says that employment growth is outstripping household growth by more than 5 to 1 in the San Jose metro area and more than 4 to 1 in the San Francisco metro area (including Marin and San Mateo counties).

Still, panelists at the forecast cautioned that some of the Bay Area’s well known “unicorns” — startup companies valued in excess of $1 billion — may not live up to those big numbers. As an example of normalizing economic conditions, Pacific Union CEO Mark A. McLaughlin pointed to San Francisco-based Square, which went public on Nov. 19. Last December, the payment-processing company was valued at $6 billion. At the close of trading on Nov. 23 it was trading at $12.12 per share, giving it a market capitalization of $3.91 billion.

(Photo: Flickr/Joey Rozier)

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Webcast Link! Pacific Union Real Estate Economic Forecast SF Bay Area


On Wednesday evening, Pacific Union and the Wall Street Journal teamed up with John Burns Real Estate Consulting firm for an insightful presentation of the Bay Area economic and housing market forecast. For those of you who missed it, a video webcast is available by visiting the link below. Thank you to Mark A. McLaughlin for hosting such an inspiring and exciting event!

Please follow the link for the webcast of the event: http://www.pacificunion.com/jazz

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The Big Eat Wine Country: 50 Things to Devour in Napa and Sonoma Counties Before You Die

The BH beer can chicken at the Napa restaurant Bounty Hunter is loaded with personality and flavor.

San Francisco gastronomes are well versed in our annual Big Eat SF—for more than a decade, you’ve been checking dishes off our list of the city’s must-eats. Last year, we invited Oaklanders to the party with our Big Eat Oakland. And now, drumroll please, we’re bringing the Big Eat to Wine Country tables.

From paella in Occidental to tuna pizza in Napa to beignets in St. Helena, here are 50 things you need to taste in Napa and Sonoma counties before you die.

1. The BH beer can chicken:Bounty Hunter // 975 1st St (Napa), bountyhunterwinebar.com

2. Oakville signature crabsandwich: Oakville Grocery Co. // 7856 St Helena Hwy (Oakville),oakvillegrocery.com

3. Green chile cheeseburger with garlic fries:Gott’s Roadside // Oxbow Public Market, 644 First St. (Napa), gotts.com

4. Paella Valenciana: Gerard’s Paella (catering only) // gerardspaella.com 

5. Chocolate-chip cookie with walnuts:Model Bakery // 1357 Main St(St. Helena), themodelbakery.com

6. Fig pizza: Bistro Don Giovanni // 4100 Howard Lane(Napa), bistrodongiovanni.com

7. Croque Madame:Bouchon // 6534 Washington St(Yountville), thomaskeller.com

8. Beignets:Farmstead // 738 Main St(St. Helena), longmeadowranch.com

9. Polenta Under Glass:Bottega // 6525 Washington St (Yountville), botteganapavalley.com

10. Flying tuna platter: Rutherford Grill // 1180 Rutherford Rd (Rutherford), rutherfordgrill.com

11. Seared foie gras: Goose & Gander // 1245 Spring St.(St. Helena),goosegander.com

12. Heritage porchetta:Torc // 1140 Main St(Napa), torcnapa.com

13. Vegetable tandoori:Himalayan Sherpa Kitchen // 1148 Main St (St. Helena), himalayansherpakitchen.com

14. Pitmaster’s chili:The Fremont Diner // 2698 Fremont Dr (Sonoma), thefremontdiner.com

15. Pan roasted shrimp & grits:Harvest Table // 1 Main St(St. Helena), harvesttablenapa.com

16. Summer corn and ricotta ravioli:El Dorado Kitchen // 405 First St West(Sonoma), eldoradosonoma.com

17. Make your own picnic:Dean & Deluca // 607 S. St. Helena Hwy(St. Helena),deandeluca.com

18. Mushroom mille feuille:Auberge du Soleil // 180 Rutherford Hill Rd(Rutherford),aubergedusoleil.com

19. FamousMac n’ Cheese: Market // 1347 Main Street(St. Helena), marketsthelena.com

20. Wood fired chicken wings:Kitchen Door // Oxbow Market, 610 1st St #24(Napa), kitchendoornapa.com

21. Mozzarella cheese “al minuto”: Tra Vigne // 1050 Charter Oak Ave(St. Helena), travignerestaurant.com

22. Nachos Not:C Casa // Oxbow Public Market, 610 1st St #B(Napa), myccasa.com

23. Smoked duck wings:The Farmer & The Fox // 3111 St. Helena Hwy N.(St. Helena), cairdeanestate.com

24. Bignè: Ca’ Momi Pasticceria // 610 1st Street #9 (Napa) camomieosteria.com

25. Tuna tartare: R+D Kitchen // 6795 Washington St (Yountville), rd-kitchen.com

26. Warm smoked trout salad:JoLe // 1457 Lincoln Ave (Calistoga), jolerestaurant.com

27. Pig and the Fig flatbread:Carpe Diem // 1001 2nd St(Napa) carpediemwinebar.com

28. Crême de Tomate en Croute: Bistro Jeanty // 6510 Washington St (Yountville), bistrojeanty.com

29. Open-faced Reuben:Archetype // 1429 Main St (St. Helena), archetypenapa.com

30. Lamb meatballs:Napa Valley Bistro // 975 Clinton St (Napa), napavalleybistro.net

31. Grilled octopus:Sam’s Social Club // 1712 Lincoln Ave(Calistoga), samssocialclub.com

32. Glazed pork belly:Redd // 6480 Washington St(Yountville), reddnapavalley.com

33. Truffled egg salad with salmon and disco fries:Norman Rose // 1401 1st St (Napa), normanrosenapa.com

34. Lucky Pig:Solbar // 755 Silverado Trail (Calistoga), solagecalistoga.com

35. Sauteed Pacific Blue Nose bass:Harvest Moon Cafe// 487 First St. West (Sonoma), harvestmooncafesonoma.com

36. The Miller Cupcake (Meyer lemon, olive oil, lemon curd): Moustache Bakery // 381 Healdsburg Ave (Healdsburg), moustachebakedgoods.com

37. 1313 Burger + aBloody Mary:1313 Main // 1313 Main St (Napa), 1313main.com

38. Dictator pizza (marinated rib-eye, mozzarella, serrano chiles, kimchi, and shichimi):Diavola Pizzeria & Salumeria // 21021 Geyserville Ave (Geyersville), diavolapizzeria.com

39. Brussels sprouts with brown sugar bacon marmalade: Glen Ellen Star // 13648 Arnold Dr (Glen Ellen), glenellenstar.com

40. Crispy braised pork shoulder:Evangeline // 1226 Washington St (Calistoga), evangelinenapa.com

41. Tuna pizza with anchovy aioli:Morimoto // 610 Main St (Napa), morimotonapa.com

42. Deviled eggs with crab:Oso Sonoma // 9 East Napa St. (Sonoma), ososonoma.com

43. Housemade wild mushroom and pumpkin angnolotti:Angèle // 540 Main Street (Napa), angelerestaurant.com

44. Popcorn al tartufo (black truffle organic popcorn):Aventine // 14301 Arnold Dr (Glen Ellen), aventinehospitality.com

45. Monterey calamari salad a la plancha:Willi’s Wine Bar // 4404 Old Redwood Hwy (Santa Rosa), starkrestaurants.com

46. Chef’s crispy fried farm egg with bacon jam:Atlas Social // 1124 1st St (Napa), atlassocialnapa.com

47. Chocolate and salted fig caramel trifle:The Girl & The Fig // 110 West Spain St (Sonoma), thegirlandthefig.com

48. Chicken liver toast:Redd Wood // 6755 Washington St (Yountville), redd-wood.com

49. Japanese purple jam ice cream: Noble Folk Ice Cream & Pie Parlour // 116 Matheson St (Healdsburg), thenoblefolk.com 

50. Chef’s Tasting Menu: The French Laundry// 6640 Washington St (Yountville),thomaskeller.com

Source: http://www.7×7.com/eat-drink/big-eat-wine-country-50-things-devour-napa-and-sonoma-counties-you-die#bmb=1

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