Ms. San Francisco Real Estate (Janice Lee)

By now it’s clear that this will not be an easy economic recovery. For every two steps forward we take one step back, as this week’s mixed economic signals show. On one hand, it was good to see improved GDP growth figures announced Friday. The U.S. economy grew at a better-than-expected 2 percent annual rate in the third quarter, the Commerce Department announced. That’s up from a 1.3 percent growth rate in the second quarter. The improvement was driven in part by greater consumer spending, but also defense spending and the government sector. Many analysts cautioned that the economy is still facing significant headwinds and warned that GDP isn’t likely to climb much above this level through the coming year. On the bright side, real estate continues to be one of the better performing sectors of the economy, as the recent Bay Area housing report from DataQuick reaffirmed. The La Jolla-based real estate research firm reported that Bay Area home prices last month rose to

La Jolla, CA.--The median price paid for a Bay Area home rose to its highest level in more than four years in September, the result of a slowly improving economy, low mortgage interest rates and shifts in market mix, a real estate information service reported. The median price paid for new and resale homes in the nine-county Bay Area rose to $429,000 last month. That was up 4.6 percent from $410,000 in August and up 17.5 percent from $365,000 in September a year ago. It was the highest since August 2008 when it was $447,000, according to San Diego-based DataQuick. The low point of the current real estate cycle was $290,000 in March 2009, while the peak was $665,000 in June/July 2007. About half of the median’s peak-to-trough drop, as well as the median’s 17.5 percent increase over the last year, can be attributed to a shift in the sales mix. For example, foreclosure resales are at half the level of a year ago. And the number of homes that sold last month for less

Consumer confidence has long been a leading economic indicator for the housing market. The more we feel good about the direction of the economy, the stock market, home values, and improvements in the job market, the more likely we are to take the leap and buy a home. So it was encouraging to see Friday’s announcement that a key consumer sentiment index moved to a four-month high in September. The Thomson Reuters/University of Michigan sentiment index rose to 78.3 this month from 74.3 in August, the highest level since May and one more sign that our slow but steady economic recovery remains on track. Consumer confidence gains can be attributed to a number of factors, according to a report in Bloomberg news: Rising property values, higher stock prices and a stabilization in the cost of gasoline could all be combining to lift our view of the economy.  (by the way, I’m late in getting this report out, and when I started a little over a week ago gas prices seemed to

445 Francisco Street #102 is a beautiful loft at the historical landmark, North Beach Malt House. The one bedroom, one and a half bathroom condo features an open living space with soaring ceilings and is ideal for entertaining. The condo also features hardwood floors and large double-paned windows to provide lots of natural light. The kitchen is equipped with granite counter tops, stainless steel appliances, dishwasher, kitchen bar, pull-out cutting board, under-cabinet lights, and a microwave that vents to the outside. On the lower level, there is a spacious half bathroom with a large vanity and recessed lights. The upper level features a spacious bedroom, gorgeous master bathroom with double sinks, built-in cabinetry, and a large, beautiful walk-in closet with custom built-in cabinetry. An in-unit stackable washer/dryer, deeded parking complete this chic home. The spacious, lush courtyard features the Malt House fountain bui