Tag Archives: Homes for sale in Palo Alto

N.Y. investors snap up San Francisco’s sprawling Parkmerced complex

Courtesy Marlize van Romburgh

N.Y. investors snap up San Francisco’s sprawling Parkmerced complex 152-acres. Plans for redeveloping to 8,900 units.

A group of New York investors has purchased a majority stake in Parkmerced, the sprawling housing complex on San Francisco’s West Side that is slated for a multibillion-dollar revitalization, in a deal that values the property at more than $1.3 billion, the Wall Street Journal reported.

Park Merced Completion

Park Merced Completion

The property currently has 3,221 units. Plans call for redeveloping it into 8,900 units, with a groundbreaking slated for 2015 or 2016. Parkmerced is located in one of the city’s less-dense neighborhoods, an appealing fact for developers as rents and demand soar.

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Nov 15_ AWESOME Jumbo Rates and Mortgage Update

November 15, 2013 Friday Rate Sheet and Market Commentary _ Courtesy Tony Guaraldi VP of Mortgage Lending

As we had hoped the Mortgage Bond markets bounced back this week recovering some of the losses from last Friday’s Jobs Report.  The highly anticipated event for this week was the Confirmation Hearing for our new Fed President Janet Yellen which took place yesterday morning.  She is perceived to be “Dovish” which in our world means likely to continue the stimulus that has been keeping interest rates low and the stock market rising.  In her Q and A session at the hearing she did say as expected that the Fed would continue the bond purchases until the economy improves.  She did also mention that she believes the real unemployment rate is closer to 10% rather than the number from last week’s Jobs report at 7.3%.

CLICK HERE for the November 15 Mortgage Rate Sheet.

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