San Francisco Real Estate - Janice Lee

Janice Lee 415-832-9151 International President's Premier Top Producer, Realtor janiceflee@gmail.com www.JaniceLeeHomes.com www.facebook.com/JaniceLeeRealEstate BRE #01720205 

Happy New Year! As we kick off 2014, it’s a good time to take a look at what might be in store for the local housing market in the coming year. While I don’t claim to have a crystal ball, I feel very optimistic about the potential for a strong housing market in 2014. The Wall Street Journal reported this week that home prices across the country  – but especially in Silicon Valley and other parts of the Bay Area – have zoomed back to near record territory. Valuations jumped 25% or more in some communities over the past year, nearing or even exceeding their pre-recession highs. Prices in Palo Alto are nearly 40% above their 2007 peak, one of the largest gains in a recent survey. So what do we do for an encore in 2014? I see four major reasons why the Bay Area’s housing market will continue to be strong in the coming year: 1. A robust local economy. The Bay Area economy is one of the strongest in the country. Silicon Valley, the Peninsula and San Francisco are t...

Two recent housing reports confirm what homebuyers and sellers already know: home prices have surged over the past year, especially in the Bay Area. But the bump in mortgage interest rates in recent months may be slowing those gains a bit and could lead to a more balanced market. S&P/Case-Shiller’s most recent home price index showed prices in the nation’s 20 largest cities rose 12.1 percent over last year. The San Francisco metropolitan area had the second biggest jump in prices, surging 24.5 percent year over year. Las Vegas at 24.9 percent led all cities. Others in the top five were Los Angeles (19.9 percent), Phoenix (19.8 percent) and San Diego (19.3 percent). According to the report, which was based on June figures, prices in Dallas and Denver hit all-time highs, while San Francisco housing prices turned in the biggest rebound, rising 47% from their low in March 2009. But analysts say the gains may be slowing as interest rates move higher. June marked the first time ...

  Forbes magazine in its most recent issue ran an interesting article taking a good hard look at the nation’s housing market at the mid-year point. It’s conclusion, as the headline proclaims, the market is “firing on most cylinders.” The article notes that despite a slight pullback in June, the first half of the year has seen favorable underlying trends in all three of the important metrics: New construction starts were up 24% in the first half of 2013 compared with the first half of 2012. Existing home sales (excluding foreclosures and short sales) were up 32% year-over-year in June. And the delinquency and foreclosure rate was down 14% year-over-year in June. “Overall, the housing market is in healthy shape,” the article declares. The publication notes that home prices climbed “steeply” in the first half of the year, outpacing rents, but are “far from bubble territory.” Forbes does acknowledge higher interest rates are a concern, but notes that the increase i...

Do not hesitate to contact me at (415) 832-9151 for any real estate purpose you may have. Janice Lee 415-832-9151 International President's Elite Top Producer, Realtor Investment Specialist janiceflee@gmail.com www.JaniceLeeHomes.com DRE #01720205 

We all knew it was only a matter of time before record-low mortgage interest rates began to rise once again. And it looks like that time is here. Over the past month, Fed Chairman Ben Bernanke has hinted that the Fed’s aggressive bond-buying program, which has kept rates artificially low, could end sooner rather than later. This week he left no doubt when he announced that the Fed will begin “tapering” its bond purchases later this year and end them completely next year.  Will QE-3 be the final chapter of the Fed’s bond purchasing efforts known as Quantitative Easing? Just the mention of “tapering” sent the stock market to its worst two-day decline of the year and pushed 10-year treasuries to their highest level in nearly two years. Since 10-year Treasury bonds bottomed at 1.4 percent last summer, rates have risen more than 60 percent to 2.4 percent. Long-term bond rates help drive mortgage rates, so it’s not surprising that mortgage costs have ticked higher in...

Move over Beverly Hills 90210. The hot new rising star in the luxury universe is Atherton 94027. While Beverly Hills may still hold the top spot for ultra luxury home sales (those in excess of $10 million), Atherton cracked the top 10 list in this year’s national Luxury Market Report   by Coldwell Banker Previews International ®, our luxury real estate marketing program. With a total of seven sales, Atherton, and the zip code 94027, tied with Malibu for the seventh spot nationally on the list of zip codes with the most homes sold for $10 million or more.  Atherton also ranked ninth for the most listings priced above $10 million with 25, just behind Miami Beach and Laguna Beach. Atherton has always appealed to venture capitalists, C-level executives and other high-end buyers, with its beautifully groomed estates, large native oaks, excellent quality of life and close proximity to the Peninsula and Silicon Valley.  But Atherton’s placement on this prestigiou...