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.

More related Positive News

• Real Estate Optimism

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

More related Positive News

• No Related Posts

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.

More related Positive News

• New Housing Gets Positive
• Foreclosures Drop 27%
• Veros Real Estate Solutions: 5 Strongest Markets
• Chicago Real Estate Market Registers Solid 9-Month Gain in 2010
• New-Home Sales Rise 6.6%

More related Positive News

• Texas Land is America’s Best Buy
• Texas Land is America’s Best Buy
• California Leads the Way
• Impressive June Numbers
• California Up in June

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.

More related Positive News

• California Up in June
• Texas Land is America’s Best Buy
• Texas Land is America’s Best Buy
• Real Estate Optimism
• Positive Real Estate Friday

1^st 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.

More related Positive News

• Middlefield Banc Corp. Reports Strong Second Quarter Earnings and Continued Asset Growth
• Reinsurance Group of America Reports Second-Quarter Results
• Lender Processing Services, Inc. Reports Strong Second Quarter Earnings
• NAR Supports the Growth of Small Businesses
• Great Numbers Give Great Message

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.

Related articles by Zemanta

• Firm: Calif. June home sales up 7 pct. from May (seattletimes.nwsource.com)
• Firm: Calif median home price rises in month (seattletimes.nwsource.com)

More related Positive News

• California Leads the Way
• Positive Real Estate Friday
• Texas Land is America’s Best Buy
• Texas Land is America’s Best Buy
• Portland Ranks 6th in Impressive Index

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.

More related Positive News

• Portland Ranks 6th in Impressive Index
• California Up in June
• Schiller Finds 9 Cities on the Rise
• So Cal Home Sales Rise
• Los Angeles Times Declares a Bottom

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.

More related Positive News

• Orlando Housing Increase Every Month
• Impressive June Numbers
• Marin County Prices and Mortgages

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.

More related Positive News

• Portland Ranks 6th in Impressive Index
• California Leads the Way
• California Up in June
• Real Estate Optimism
• Builders Glee Over Housing