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By admin, June 18, 2010 8:12 pm

The Rancho Santa Fe real estate market, a part of the larger San Diego and Southern California housing markets, showed some signs of recovery and a few specific strengths in the first half of 2010. According to a May 17, 2010 article from the San Diego Union Tribune, “Southern California home prices remained flat from March to April, as sales shifted into May for tax-credit reasons, MDA DataQuick reported Tuesday. The median price for the six-county region was $285,000, an increase of 15.4 percent from April 2009.” The piece by Roger Showley went on to say that “As reported Monday, San Diego County’s median price slipped to $325,250, from $330,000 in March, but was up 12.2 percent from April 2009’s $290,000. Prices followed the same pattern in Orange, Riverside and San Bernardino counties – down from March but up from April 2009.”

A May 27, 2010 article in SDNN focused on the continued year-over-year rise in Rancho Santa Fe and other San Diego homes for sale. The piece noted that “In this volatile – and frequently gloomy – housing market, San Diego stands out as a metropolitan city with continued home prices, says a Standard and Poor’s/Case-Shiller Home Price Index released Tuesday.” The article, composed by Anne Subramanian, went on to state that “The study highlighted that despite many metropolitan cities reporting new index lows, San Diego boasts an eleven-month streak of increasing home prices. Of the 20 national metropolitan cities studied, San Diego’s 10.8 percent increase in home prices since March 2009 is only surpassed by San Francisco’s 16.2 percent increase. Housing prices climbed by 1.5 percent in San Diego between February and March of this year while the national trend reflects a .5 percent decrease.”

This same positive news for the previously ailing Rancho Santa Fe housing market was reported in a May 25, 2010 article from The Voice of San Diego. This article by Kelly Bennett went on to note that “There’s no doubt housing prices have come roaring back this year. New numbers released this morning showed San Diego County home prices rose again in March – marking the 11^th straight month they’ve been headed up.”

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By admin, June 17, 2010 7:37 pm

The Morgan Hill real estate market, a subsidiary of the larger Silicon Valley and Santa Cruz housing markets, saw a slight decline in some sectors in April, despite the nationwide trend towards recovery. According to a May 20, 2010 article from the Silicon Valley/San Jose Business Journal, “Bay Area home sales fell slightly below the year-ago level and remained well below average in April, according to a report Thursday by MDA DataQuick. In April a total of 7,003 homes closed escrows in the nine-county Bay Area, up 0.2 percent from 6,992 in March but down 1.9 percent from 7,139 in April 2009.” The piece went on to state that “The median price in Santa Clara County in April was $489,000, up 20.70 percent from April 2009’s median of $405,000. There were 1,656 sales, up from the year-ago period’s 1,606 sales.”

The relative strength of home prices in Morgan Hills and other portions of Santa Clara County can be at least partially attributed to lower interest rates. According to a June 3, 2010 press released from the Santa Clara County Association of Realtors, “Record-low interest rates continue to fuel the Santa Clara County housing market, boosting home prices and spurring brisk sales. The 30-year fixed-rate mortgage averaged 4.78 percent with 0.7 point for the week ending May 27, down from the previous week when it averaged 4.84 percent, according to Freddie Mac.” The piece, composed by SCCAOR President Karl Lee, went on to say that “Rock-bottom interest rates and lower housing prices make homes more affordable than they have been in years. In Santa Clara County, multiple offers are common and many properties are snapped up within a few days.”

The Morgan Hills real estate market, along with the larger Bay Area, saw a shift towards foreclosures on more expensive properties in the most recent tracking period. According to a June 1, 2010 article in the San Francisco Chronicle, “Foreclosures are going upscale across the Bay Area. Nearly 1,000 homes valued above $730,000 were repossessed by banks in the nine-county region in each of the past two years, according to a Chronicle review of public records compiled by MDA DataQuick, a San Diego research firm.”

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By admin, June 15, 2010 7:19 pm

The Rocklin housing market, a subsidiary of the Sacramento-area real estate market, showed strong signs of recovery despite a slight decline in home sales. According to a June 10, 2010 article from the Sacramento Business Journal, “Foreclosure filings in the Sacramento region, including notice of default, trustee sales notices and repossessions by banks, were down 12.53 percent in May compared with the same period one year ago, real estate information firm RealtyTrac reported Thursday.” The piece, composed by Michael Shaw, went on to note that “According to the report, 1,488 homes in the four-county region became bank owned through foreclosure sales during the month, the company said. The trend in Sacramento mirrors that in California, where foreclosure filings were down 22 percent on a year-over-year basis. The state still accounted for 22 percent of the nation’s foreclosure filings.”

The average sales price of a Rocklin real estate climbed from near-record lows along with the rest of the Sacramento area. According to a May 24, 2010 article from the Sacramento Business Journal, “Sacramento-area home prices are climbing off the mat, increasing 12.4 percent from the bottom reached in April 2009, according to a report released Monday.” The piece, written by Ron Trujillo, went on to state that “The four-county region – arguably one of the hardest hit, with an abundance of foreclosures and 35 percent-plus home prices declines – had a median-home price of $188,100 in April, compared to the so-called ‘trough’ price of $167,340 a year ago, according to the California Association of Realtors…Sacramento County was the only county in the region that enjoyed a price increase compared to a year ago.”

The Rocklin housing market did suffer from a slight decline in home sales, possibly as a result of the higher prices. According to a May 20, 2010 article in the Sacramento Business Journal, “Home sales in the four-county Sacramento region were slightly lower in April than the same month last year, according to figures released Thursday from real estate information company MDA DataQuick.” The piece, written by Michael Shaw, noted that “There were 2,873 home sales of all types, including new homes, and existing homes, and existing homes and condos, in April compared with 3,036 sales a year ago, the company reported.”

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By admin, May 14, 2010 2:12 am

The Palo Alto real estate market is very closely related to the greater Bay Area real estate market, and seems to be showing some signs of improvement. According to a March 11, 2010 article from ABC 7 News, “For the first time in a long time, some of the Bay Area’s hardest hit counties are seeing their foreclosure numbers drop compared with last year. In San Joaquin County, foreclosure filings have dropped 42 percent since February 2009; in Alameda, foreclosure filings are down 16 percent and in Contra Costa County, filings are down 3 percent.” In the words of Elaine Brooks-Cox, a foreclosure contractor with Pacific Community Services, “Just recently we’ve seen a small slowdown. Our inventory for foreclosure inventory and short-sale inventory and a short-sale inventory in the local 680 corridor is down; we’re seeing probably a decrease by as much as 60 percent over what it was last year.”

Home prices are another bright spot for Palo Alto homes for sale, according to a  March 18, 2010 online article from the Los Angeles Times. The article stated that “The median price paid for a Bay Area home jumped 20% in February as fewer foreclosures were on the market, the San Diego research firm MDA DataQuick said Thrusday. Sales fell for the second month in a row. Potential buyers had trouble securing financing, were concerned about job security or had a difficult time competing for a home as inventory tightened, DataQuick said.” According to John Walsh, the President of DataQuick, “The market remains fundamentally off kilter. There’s still relatively little lending going on in the upper price ranges, and little adjustable-rate financing, which have been vital to the Bay Area.”

One possible negative influence on Palo Alto real estate for sale was negative news regarding home sales. According to a March 19, 2010 article in the San Francisco Chronicle, “The volume of Bay Area home sales dipped in February compared with a year ago, while the median price continued to rise, according to a real estate report released on Thursday…A total of 3,582 existing single-family homes changed hands in the nine-county region in February…”

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By admin, May 12, 2010 2:12 am

Palm Desert real estate, representative of the larger Coachella Valley area, seems to be stabilizing during the first quarter of the fiscal year, according to a March 29, 2010 article in the Desert Sun. This piece found that “The Coachella Valley’s real estate market remained in a ‘stabilizing’ pattern in February with a 14.8 percent jump in prices, while sales rose just .06 percent over February 2009, the California Desert Association of Realtors reported today.” According to Greg Berkemer, the executive directors of the California Desert Association of Realtors, “The desert appears to remain in a stability phase which should remain in place until there is either a change in the market dynamic either some outside force or event and/or buyers’ and sellers’ confidence in the future becomes more evident. Although prices remained flat in February compared to January, sales did move up some by 5.6 percent.”

Palm Desert homes for sale, along with the rest of California’s real estate market, managed to boost a nation-wide measure of real estate health. According to a March 31, 2010 article in the Desert Sun, “A national index of home prices rose unexpectedly in January, with California cities posting strong gains, but some experts warned that the nation’s struggling housing market could be headed for another dip. The closely watched Standard & Poor’s/Case-Shiller index of 20 metropolitan areas rose 0.3 percent from December on a seasonally adjusted basis.” The article continued to note that “That marked eight consecutive months of home values improving or at least holding steady. That rise is good news for people who plan to sell their homes this spring.”

Home sales were one especially positive piece of news for Palm Desert real estate for sale, according to a March 18, 2010 article by John Hussar in the Desert Sun. This article observed that “The Coachella Valley’s ‘season’ of postcard-perfect weather and tourism helped propel a jump in existing home sales 10.5 percent in January while prices rose 17.4 percent over January 2009, the California Desert Association of Realtors reported today…The median price of an existing home in the Coachella Valley was $179,760 in January, up 4.3 percent from December and 17.4 percent from January 2009.”

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By admin, April 7, 2010 7:59 pm

Burlingame, a city in San Mateo County in Northern California, has a resilient real estate market. Despite falls and drops in prices brought about because of the U.S. financial and credit crisis, the Burlingame real estate market has fought on. Though prices still remain below where they were during the pre-recession highs, they are still high compared with other regions in the country.

According to statistics compiled by local realtor Vicki Moore, at the end of 2009, December saw 43 active listings of Burlingame homes for sale, with nine new listings. This was an improvement on November’s market, when there were 70 active listings and 20 new listings. There 26 homes sold in Burlingame in December, an improvement upon November’s 17 sales.

The prices of homes in Burlingame in December were on the rise as well. The median sales price in the month was $1.25 million, up from $1.05 million in November and the highest median since September. This figure is just slightly less than the median sales price during the boom years: In 2007, the median sales price in the city was $1.35 million.  December’s average price was $1.4 million, also up from November’s $1.05 million and nearly meeting September’s average.

Burlingame sellers are getting a good proportion of the asking prices on their homes for sale. In December, the sale price-to-list price ratio was 96.9%. In November, it was 96.7% and in October it was 98%. The average number of days homes in Burlingame spent on the market in December rose from November, when it was just 47, to 60, back to constant with levels in October, when the average was 61 days.

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By admin, January 21, 2010 3:25 am

The market for real estate in Marin County, California, is typical of the larger U.S. housing market. Though prices have fallen steeply from their peaks around 2006 and 2007, the market seems to be stabilizing and it has been helped by the government’s stimulus program offering up to $8,000 in tax credits to qualified home buyers, which has spurred activity in the area in recent months especially.

In November, sales of single-family homes in Marin County surged, up by nearly 77% when compared with sales activity at the same time last year. Despite a strong showing this month, however, year-to-date, sales of homes for sale in Marin County is off by 0.2%. December statistics will determine whether 2009 was a better or worse year for the market than 2008.

Marin County real estate saw a decently sized increase in its home prices during October 2009. According to the California Association of Realtors‘ data, in October, the median price for homes sold was $648,000, up 8% from October 2008, when it was just at $599,750.  In November, however, the median price was down 7.1% from October’s figures, down 5.7%. The November figures were 14.8% lower than November 2008 figures.

According to The Real Estate Report, a licensed California broker run by CPA Ron Parks, the median price for a single-family home in November in Marin County was just $702,000, compared with $755,880 in October of this year and $824,000 in November of last year. The market saw 161 sales in November, down from 171 in October but up decidedly from last November’s 91 sales. Days on the market were down in November, to 92 from 96 in October, but those figures are up from November 2008, when the average number of days on the market was 88.