Category archive - Blog

SF Gate Article: New signs emerge that recession may be easing

New signs emerge that recession may be easing

By CHRISTOPHER S. RUGABER, AP Economics Writer

Thursday, April 16, 2009

(04-16) 14:00 PDT WASHINGTON (AP) —

Housing construction unexpectedly plunged, the number of people receiving jobless benefits grew and JPMorgan Chase & Co. said its first-quarter profit dropped compared with last year.

That was the bad news. But those same reports Thursday included some silver linings suggesting the recession may be easing.

The pace of new-home construction seems to be nearing a bottom. First-time jobless benefit claims fell more than expected for the second straight week and JPMorgan’s profits were larger than analysts had expected. In the past week, two other banks, Wells Fargo & Co. and Goldman Sachs Group Inc., issued positive earnings reports, too.

All told, growing evidence indicates the economy may be stabilizing. Read more

Appreciation & Depreciation of San Francisco Homes

Appreciation & Depreciation of San Francisco Homes since 1995

 

Below, median sales prices are calculated for 2-bedroom condos, 3-bedroom houses and 2-bedroom TICs in a number of SF neighborhoods over a variety of periods beginning with 1995 — when the last, great Sellers’ market began -– and ending with the six months following the financial market meltdown in September 2008. (Its effect began to show up in mid-October sales.) Median price is a relatively crude statistical generality – especially in SF with its huge variety in property type, size, condition, curb appeal and architectural style – but it can be useful in assessing macro trends in the market. However, remember: for a specific home, only a specific market analysis is truly pertinent.


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Pre-Market Opportunities: 4/22/09

These properties are either coming into the MLS in the next few weeks or will not be marketed by the agent in MLS. For an opportunity to view them prior to the rest of the market, please contact me. There is also a note about a property for rent.


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SF Chronicle Article: Home Price Decline Starting to Slow

Home price decline starting to slow

James Temple,Carolyn Said, Chronicle Staff Writers

Friday, April 17, 2009

 

(04-16) 10:53 PDT SAN FRANCISCO — Bay Area home prices are still falling, but the pace slowed significantly in March, extending a trend that is beginning to foster real hope that the market is approaching the bottom.

 

The median sales price across the nine-county region stood at $295,000 for existing single-family homes last month, a 46.3 percent drop from a year ago but off just 0.5 percent from February, MDA DataQuick of San Diego reported Thursday.

 

That month-to-month price change has been narrowing recently. The median declined 2.4 percent in February compared to the previous month and 7.9 percent in January. The biggest recent drop was 11.1 percent in September. Year-over-year price declines have floated around 47 percent for the past five months.

 

“It’s very meaningful because it means that we’re finding the floor for median home prices,” said Esmael Adibi, director of the Anderson Center for Economic Research at Chapman University in Orange. “I believe now that with the continuation in the strength of home sales and improvement in affordability, we will be very near the bottom in the next few months.”

 

For the first time in more than a year, the California Association of Realtors in February reported small month-over-month price increases in Alameda, San Francisco and San Mateo.

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SF Market Statistics

Hotsheet Statistics for the Past 2-Weeks: San Francisco Houses, Condos & TICs

(compared to the previous 2-week period)

New Listings:           315 – slightly up from 306
Back-on-Market:       64 – slightly down from 67
Price Reductions:     207 – substantially down from 273
Went Contingent:     171 – down from 185
Contingent REO:      7 – down from 11
Went Pending:         164 – up from 151
Sold:                       104 – down from 133
Sold REO:               9 – down from 20  
Expired/Withdrawn:  131 – substantially down from 199


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CA Association of Realtors Homebuyer Tax Credit Chart

An easy-to-read chart has been provided by the California Association of Realtors outlining both California and Federal Tax Credits associated with homeownership.

Click here for Homebuyer Tax Credit Chart

Copyright ® 2009 CALIFORNIA ASSOCIATION OF REALTORS ® (C.A.R.) Permission is granted to C.A.R. members only to reprint and use this material for noncommercial purposes provided credit is given to the C.A.R. Legal Department. Other reproduction or use is strictly prohibited without the express written permission of the C.A.R. Legal Department. All rights reserved.

The information contained herein is believed accurate as of April 13, 2009. It is intended to provide general answers to general questions and is not intended as a substitute for individual legal advice. Advice in specific situations may differ depending upon a wide variety of factors. Therefore, readers with specific legal questions should seek the advice of an attorney.

Pre-Market Opportunities: 4/16/09

These properties are either coming into the MLS in the next few weeks or will not be marketed by the agent in MLS. For an opportunity to view them prior to the rest of the market, please contact me. There is also a note about properties that buyers are looking for – do you have a property to sell? 

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Fast Facts for the San Francisco Real Estate Market

Set forth are side by side comparisons of Single Family Residence, Condominium, and 2-4 Unit Dwelling sales activity for March 2008 and March 2009

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Fun websites for San Francisco

A variety of useful, interesting or fun websites for San Francisco and the Bay Area.