Housing Affordability Up in Cali
November 16, 2010 by admin
Filed under california, Positive Real Estate
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Housing affordability among first-time home buyers improved slightly in the third quarter of 2010, both on a quarter-to-quarter and year-to-year basis, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today. The percentage of first-time buyers who could afford to purchase an entry-level home in California stood at 66 percent in the third quarter of 2010, according to C.A.R.’s First-time Buyer Housing Affordability Index (FTB-HAI). In the second quarter of 2010, the Index was a revised 65 percent and was 64 percent in the third quarter of 2009.
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San Bruno Sales Spike Up
November 2, 2010 by admin
Filed under california
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The San Bruno real estate market observed a healthy spike in a number of key indicators in September. Despite economists’ fears of a double dip recession, buyers have been snatching up homes due to low price points and attractive mortgage interest rates. This resulted in favorable numbers last month for real estate here as a whole.
According to data from MLSListings, San Bruno saw its average home price increase nearly 15 percent to $587,000 in September. The median price of a San Bruno single family residence rose 7.8 percent to $566,000.The average number of days on the market fell by 10 percent to 52 days, while homes sold at nearly 97 percent of their listing price.
http://sanbruno.patch.com/articles/real-estate-market-showed-signs-of-growth-in-september
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California Resales Price Up 30%
September 23, 2010 by admin
Filed under california, Positive Real Estate
- Image by Getty Images via @daylife
The median price of resale homes in California has risen almost 30 percent since February 2009, after falling 58.8 percent from its record high in 2007, the California Association of Realtors reported yesterday.
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Neighborhood Shopping Center Sells for $16,000,000 in La Cañada, Calif.
August 3, 2010 by admin
Filed under california, Investors, Positive Real Estate, Real Estate Articles
The 42,093-square-foot shopping center, known as Foothill Promenade, sold for as much as 16 million dollars recently. Tenant’s include Trader Joe’s, Union Bank, Petco, Aaron Brothers, Starbucks and Han’s Beauty. The purchase is part of the buyers’ plan to acquire high quality shopping centers in Southern California. “This combined with an increased demand from investors has created a very competitive environment so far this year. In the past couple of months, the market has started to see an increase in neighborhood shopping centers sold and marketed for sale in southern California. Watch for this trend to continue and pick up momentum moving into the fourth quarter,” reported William B. Asher of Hanley Investment Group.
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California Leads the Way
July 26, 2010 by admin
Filed under california, Home Resales, Pending Home Sales, Positive Real Estate, Positive Real Estate Brokerages, Real Estate Articles
- Image by gordeonbleu via Flickr
Berkeley, California homes lead the country in homes sold above the asking price, about 108% above the asking price. Seven of the top ten zip codes with homes sold above the asking price where in California.
Berkeley, California homes lead the country in homes sold above the asking price, about 108% above the asking price. Seven of the top ten zip codes with homes sold above the asking price where in California.
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Four Consecutive Quarters of Profit and Growth – 1st Capital Bank Announces its Unaudited Financial Results
July 23, 2010 by admin
Filed under california, Investors, Mortgages, Positive Real Estate, Positive Real Estate Brokerages, Real Estate Articles
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1st Capital Bank announced its impressive fourth consecutive quarter of profit and growth today. The bank has continued to grow in asset size and has expanded its market share in Monterey County. “The three months ended June 30, 2010 represent the fourth consecutive quarter of profitable operations for 1st Capital Bank,” said Fred Rowden, President and CEO of 1st Capital Bank. In addition, net income recorded for the quarter ended June 30, 2010 increased $187,000 (1169%) to $203,000, compared to $16,000 for the trailing quarter ended March 31, 2010.
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California Up in June
July 18, 2010 by admin
Filed under california
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An estimated 43,964 new and resale houses and condos were sold statewide last month. That was up 7.3% from 40,965 in May, and down 0.5% from 44,167 for June 2009, according to MDA DataQuick.
California sales for the month of June have varied from a low of 35,202 in 2008 to a peak of 76,669 in 2004, while the average is 50,405. MDA DataQuick’s statistics go back to 1988.
The median price paid for a home last month was $270,000, down 2.9% from $278,000 in May, and up 9.8% from $246,000 for June a year ago. The year-over-year increase was the eighth in a row, following 27 months of year-over-year decline. The bottom of the current cycle was $221,000 in April 2009, the peak was at $484,000 in early 2007.
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- Firm: Calif. June home sales up 7 pct. from May (seattletimes.nwsource.com)
- Firm: Calif median home price rises in month (seattletimes.nwsource.com)
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San Francisco up 16.2%, SD 10.8%, LA 6%
May 27, 2010 by admin
Filed under california
The San Francisco area had the strongest quarterly performance among metropolitan regions in a closely watched home price index released Tuesday, although other areas and national numbers showed some weakening.
The S&P/Case-Shiller Home Price Index showed the San Francisco area – which it defines as the counties of San Francisco, San Mateo, Marin, Alameda and Contra Costa – up 16.2 percent in the first quarter, compared with the same quarter in 2009.
Other California areas also showed recovery, with San Diego up 10.8 percent and Los Angeles up 6 percent.
“San Francisco, San Diego and Los Angeles went way up and came way down, so to some extent this is a rebound from the bottom,” said David Blitzer, chairman of the index committee for Standard & Poor’s, which publishes the index.
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Marin County Up 10.1%
May 17, 2010 by admin
Filed under california, Positive Real Estate
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http://marinrealestateblog.com/ reports that the median price for homes in Marin County rose for the second month, gaining 10.1%. The median price for condominiums also rose. The median price for homes Sold in Marin in April of 2009 was $800,000, the median price for homes Sold in April of 2010 was $865,000. The average price for homes Sold in April of 2009 was $1,022,859, the average price for homes Sold in April of 2010 was $1,164,496. Average days on the market for homes Sold in April of 2009 was 107 days, and the average number of days on the market for homes Sold in April of 2010 was 80 – the shortest time since August of 2008.
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Los Angeles industrial real estate outperforms nation
April 28, 2010 by admin
Filed under california, Positive Real Estate
Image via WikipediaFrom LA Times
Industrial property landlords are suffering in most of the country – but not so much in Los Angeles, a real estate brokerage said Tuesday.
Vacancy in the U.S. increased for a 10th consecutive quarter to 10.9% in the first three months of this year, Grubb & Ellis said. Asking rents were down almost 7% from a year ago. With the economy finally starting to improve a bit, the pace of deterioration in the industrial real estate market is easing, “but not quickly,” said the brokerage in a report.
In Los Angeles, vacancy rose a smidgen from a year ago to a mere 3.4% in the first quarter, though that was a six-year high. Asking rents have been coming down for the most part since 2008.
