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1 in 8 home sellers in this part of the Bay Area is taking a loss

Published Fri, 15 Nov 2024 08:23:52 GMT

It might be hard to fathom in this real estate market, but one in eight home sellers in San Francisco and on the Peninsula is now taking a loss.How can that be?Blame mortgage rates. Rising rates have pulled down home prices from historic highs during the pandemic homebuying boom. And some sellers who bought at the top of the market in 2021 and 2022 are being forced to accept less than what they paid for their homes.According to the latest data from the real estate brokerage firm Redfin, more than 13% of those who sold homes in San Francisco and San Mateo counties between August and October went into the red — a rate about four times the national figure and the highest share of any major region in the country. The typical loss in the area: $122,500.Sheharyar Bokhari, a senior economist with Redfin, said those selling at a loss are typically doing so out of necessity. They might be going through a job loss, divorce or other life event that doesn’t allow them to wait for a turnar...

49ers report card: All-around excellence delivers big win over Eagles

Published Fri, 15 Nov 2024 08:23:52 GMT

PHILADELPHIA – Here is how the 49ers (9-3) graded in Sunday’s 42-19 win over the host Eagles (10-2):PASS OFFENSE: A-Brock Purdy overcame a shaky start (0-for-4 pasing, Haason Reddick sack) and threw for 314 yards with four touchdown passes. He insisted his focus had to be solely on this game rather than making up for last season’s NFC Championship Game defeat, in which a Reddick sack injured his elbow. On second-and-15 from the 15-yard line, Purdy delivered his first completion (12 yards to Brandon Aiyuk), then converted a third-and-3 throw to Kittle, launching their first touchdown drive and perhaps that drive will be reflected on a No. 1-seed saver.No one set the tone of this rout more than Deebo Samuel, who turned two of his four receptions into touchdowns; Samuel had 116 receiving yards, and he had three carries for 22 yards with one scoring run. Aiyuk and Jauan Jennings also had touchdown catches, and George Kittle came through with some clutch receptions. Trent Williams said “...

Woman killed in shark attack on Pacific coast near Mexico beach town

Published Fri, 15 Nov 2024 08:23:52 GMT

MEXICO CITY — A Mexican woman died after she was severely bitten in the leg by a shark in the Pacific Ocean off the beach town of Melaque, authorities said Sunday.Rafael Araiza, the head of the local civil defense office, said the attack occurred Saturday a short distance from the beach in Melaque, just west of the seaport of Manzanillo.The town is in the western state of Jalisco, and is located next to the better-known beach town of Barra de Navidad.Ariaza said the woman, 26, was swimming with her five-year-old daughter toward a floating play platform about 75 feet (25 meters) from the shore.The victim was trying to boost her child aboard the floating platform when the shark bit her. The daughter was not harmed.Ariaza said that despite a quick response by rescuers, the woman died of blood loss from the massive bite wound on her leg near the hip. She was a resident of a nearby town.Authorities closed the beaches in Melaque and Barra de Navidad to swimming as a precaution.Shark attac...

Why are real estate commissions 6%? – and why that may be changing

Published Fri, 15 Nov 2024 08:23:52 GMT

By Anna Bahney | CNNWashington, DC  — Here’s how paying for a real estate agent to sell your home has long been done: A seller hands a percentage of the sale price to their broker, who then splits it with the broker who brought the buyer.The commission is typically between 5% and 6%, which is usually tens of thousands of dollars out of the seller’s proceeds. But the seller also factored that cost into what they listed their home for, so indirectly, the buyer is paying the cost, too.How did that become the standard? And will this process continue?Changes may soon be on the horizon for real estate commission rates after a Kansas City jury determined – in a $1.8 billion judgement in October – that commissions had been inflated and that brokerages and industry groups conspired to keep them that way. This landmark antitrust court case, along with similar lawsuits like it, could overhaul the standard 6% commission and who pays it.A shift could allow home buyers and sellers to negotiate no...

Cal State faculty striking in series of one-day actions

Published Fri, 15 Nov 2024 08:23:52 GMT

(BCN) -- Thousands of California State University faculty are preparing to shut down their classes and strike starting Monday as labor negotiations have stalled. The series of one-day rolling strikes will begin at Cal Poly Pomona on Monday, with San Francisco State following on Tuesday, Cal State LA on Wednesday and Sacramento State on Thursday. Some faculty from other campuses are expected to join their colleagues and not teach on those days. Cal State graduation rates remain flat for second consecutive year Salary remains the largest disagreement between the 23-campus Cal State system and the California Faculty Association, which represents about 29,000 professors and lecturers. The faculty is fighting for a 12% general salary increase for this year and has not specified the size of the raises it will seek after that. However, the university system is proposing a total increase of 15% over three years, including this year. "A lot of what we've been offered by management is depe...

SF school district reaches memorandum of understanding with tradespeople, staving off strike

Published Fri, 15 Nov 2024 08:23:52 GMT

(BCN) -- The San Francisco Unified School District has reached a memorandum of understanding with tradespeople who had pledged to strike Monday to protest what they called unfair labor practices, the school district said Sunday night.Common Crafts employees include about 80 plumbers, carpenters, roofers and other tradespeople, according to the San Francisco Building and Construction Trades Council, though the school district said it only represents 65 employees.The council said Friday that the district had failed to pay wages owed and that workers were going to picket on Monday "to voice their exasperation with the school district that has continuously violated state labor law in its recent dealings with them."Earlier on Sunday evening, SFUSD spokesperson Laura Dudnick said the district had only been made aware of the situation on Friday, but that continued discussions were being held with the workers.On Sunday night, the district sent out an email announcing the MOU, which it said ...

Lanes shut down on I-280 in San Jose Sunday

Published Fri, 15 Nov 2024 08:23:52 GMT

(KRON) -- Traffic on Interstate 280 in San Jose was halted Sunday night due to a person in distress, California Highway Patrol announced on X. All northbound lanes in the area of I-280 and McLaughlin Avenue were shut down as of 10:30 p.m. and later reopened just after midnight.During the closure, only one southbound lane was open, according to CHP.No other information was immediately available.

Christian Pulisic enjoying new lease of life at Milan ahead of Copa America

Published Fri, 15 Nov 2024 08:23:52 GMT

MILAN (AP) — Christian Pulisic came to AC Milan to revive his flagging club career. The United States standout is doing just that and then some.Pulisic has never got off to such a good start at a new club, bettering even his early days at Borussia Dortmund when he was talked about as a teenage prodigy.There he netted two goals and had three assists in his first five matches but then didn’t score again for a number of months.Pulisic has started life in Italy with five goals and two assists in his first 12 league matches with Milan, the 25-year-old matching Weston McKennie’s goal tally for Juventus in the entire 2020-21 season.No U.S. international has scored more in a Serie A season although American-born, former Italy forward Giuseppe Rossi netted 16 in the league for Fiorentina in 2013-14.Pulisic’s latest goal, Milan’s second, was an impressive effort in Saturday’s 3-1 win over Frosinone.The winger barely broke stride as he raced onto a 70-meter pass from goalkeeper Mike Maig...

Stock market today: US futures follow global markets lower ahead of raft of jobs data this week

Published Fri, 15 Nov 2024 08:23:52 GMT

Wall Street followed global stocks lower Monday ahead of a slew of economic data on the labor market this week. Futures slipped, with the Dow Jones Industrial Average falling 0.3% before the bell while the S&P 500 gave up 0.4%.Wall Street ended Friday with its fifth straight weekly gain as a growing number of signs suggest that the U.S. Federal Reserve may be done raising interest rates to curtail rising costs. Inflation has slowed measurably since last year following a series of rate hikes. The hikes are intended to cool the economy and slow hiring, and there is growing evidence that the Fed has had some success. A report Thursday from the Commerce Department showed that prices were unchanged from September to October, down from a 0.4% rise the previous month. Compared with a year ago, consumer prices rose 3% in October, below the 3.4% annual rate in September. That was the lowest year-over-year inflation rate in more than 2 1/2 years.While the labor markets remain strong, the ...

Guinea-Bissau’s president has dissolved the West African nation’s parliament after last week’s failed coup

Published Fri, 15 Nov 2024 08:23:52 GMT

BISSAU, Guinea-Bissau (AP) — Guinea-Bissau’s president has dissolved the West African nation’s parliament after last week’s failed coup.Source