Ms. San Francisco Real Estate (Janice Lee)

    More “green shoots” sprung up for the nation’s housing market this week. On Tuesday, the National Association of Realtors reported that existing home sales rose in April and remain above year-ago levels, and home prices nationwide continued to rise as well. And on Wednesday, the Commerce Department said that sales of new homes rose 3.3 percent in April from March to a seasonally adjusted annual pace of 343,000. That was slightly more than what most analysts had expected.   Both reports are just the latest in a recent string of reports that suggest a housing recovery is finally taking hold across the U.S. We’ve certainly seen a good turnaround in many parts of the Bay Area for some time now. But the recovery has been more tepid in some other parts of the country, so these reports come as very encouraging news for the housing market as a whole. The improving existing home sales and prices were across all regions of the U.S., NAR pointed out. Sales incr

Well, 2012 may or may not be the end of the world as we know it, but one thing is perhaps certain: it’s the end of the ghastly price hemorrhages home owners have suffered since the real estate market crashed in 2007. Nationally, home prices have dropped about 35% since the housing bubble burst –  in the hardest hits areas, 55% or more. Yet new reports from several real estate research firms signify that home prices are finally stabilizing. The data reinforces a notion already asserted by many an economist, real estate agent and Wall Street investor: that 2012 is the year of the bottom. The National Association of Realtors reports that in the first quarter of 2012, the median existing single-family home price, or final sales price, rose in 74 of the 146 metro areas that the association tracks. In the fourth quarter of 2011, only 29 metro areas had showed price gains.  In other words 51% of the major cities across the U.S. have welcomed price gains, most notably i

With spring in full bloom, there is growing evidence that the nation’s housing market is shaking off its long hibernation and heating up once again. Several recent industry studies have shown that home prices are stabilizing across the country and that the U.S. housing market may have already begun a turnaround. This comes as welcome news for buyers, homeowners and potential sellers. Some prospective buyers have been waiting for the “all-clear” signal that the downturn is over before jumping back into the market. And all homeowners, of course, have to be encouraged by stabilizing prices and signs that demand for real estate is accelerating once again. One of the most followed analysts of the nation’s housing market issued a new report this month entitled: Housing Markets Stabilizing,Affordability at 40-Year High.The Fiserv Case-Shiller analysis of home price trends in more than 380 U.S. markets found that the majority either rose slightly year-over-year or had very modest decli

The much-anticipated Facebook initial public offering took place on Friday morning, raising as much as $18.4 billion – the biggest Internet IPO in U.S. history and the third largest IPO of any kind.  The $38 per share IPO opened their premier NASDAQ day of trading at $42.05, valuing the company at more than $100 billion. It jumped up to $45 on early trading, eased back to about $41, and as more steam escaped, closed the first day of trading just a mere 0.61% above the IPO opening value, at $38.23.    Analysts are saying that a few factors contributed to the lackluster close not being near the conservatively anticipated 10% to 20% gain on opening day (some had predicted as great as 50% – recall that LinkedIn doubled on their opening day of trading).  Among the factors causing a disappointing close – the move by investment bankers to increase the offering price to $38 a share, and to expand the size of the offering by 25%, just a day before the IPO.  It also did not he

Bay Area home sales increased last month to their highest level for an April since 2006. The median sale price rose year-over-year for the first time in 19 months, reaching its highest point since September 2010 amid indications that market stress is easing and fence-sitters are moving to take advantage of lower prices and ultra-low mortgage rates, a real estate information service reported. A total of 7,675 new and resale homes sold in the nine-county Bay Area last month. That was virtually unchanged from 7,694 the prior month, and up 13.1 percent from 6,789 in April a year ago.  Last month’s sales were the strongest for an April since 2006, when 9,129 homes sold. Since 1988, when DataQuick’s statistics start, April sales have varied from 6,310 in 2008 to 14,430 in 2004. The average is 9,088. “It appears that the market is taking a step in the direction of normalization, but only a step. We’re still watching technical indicators more than top-line sales cou

  From entry-level homes to the luxury estates, the Bay Area’s housing market gained more momentum in March, according to a number of recently released industry reports. March home sales in the region were at their highest level for that month in five years, the result of lower prices, low interest rates and an improving economy, according to DataQuick, the La Jolla-based real estate research firm. Some 7,694 new and existing houses and condos sold in the nine-county Bay Area in March, up 34.9 percent from February and 9.1 percent from March 2011, DataQuick reported. Last month’s sales total was the highest for the month of March since 8,317 homes were sold in 2007. The strongest sales gains were in Solano, Sonoma, San Mateo and San Francisco counties with 13.2 percent, 12.1 percent, 11.4 percent and 11.3 percent increases, respectively, from March 2011. “This is the time of year when buying patterns usually start to normalize,” said John Walsh, presiden

Square-footage and price are important elements to consider when it comes to choosing a house. But it takes more than a roof and foundation to make a house a home. According to a new survey of 1,000 men and women by Coldwell Banker Real Estate, couples are relying on gut feelings and lifestyle needs when looking for a place to call home. 28% of women and 25% of men put more emphasis on their feelings about a home than they do on the layout, square footage or price. 62% of women and 61% of men know within the first visit if a home is right for them. "When two people are looking for a home together, there are many considerations to take into account. Of course, price and layout matter, but 'feeling at home' is an important factor." Women take charge of making a house a home 54% of women say they take the lead in decorating. 48% of young men (18-44) say decorating is mutual. Only 36% of men over 55 play an equal part in decor decisions. Women cook it up i

After several years of an oversupply of homes on the market and an undersupply of qualified buyers, the tables have turned for the Bay Area’s housing market. It may be hard for some consumers to believe, but our local housing market has bounced back in a big way over the past year or two. Eager buyers are once again out in force ready to purchase their next home. But ironically, the only thing stopping them is a serious shortage of homes for sale! We’ve come a long ways from the recessionary days when homes sat on the market for many months or even a year or longer waiting for a buyer. Today, properties are once again being snapped up quickly, often with multiple offers due to the shortage of inventory. While this imbalance is frustrating some would-be buyers, it is also creating a great opportunity for savvy homeowners who have gotten the message that now may be the best time in many years to sell their home.