Fascinating Article on Real Estate Investing

Looking to invest in other markets? Let me help you find an agent.

Recent multi-units I’ve listed and put into contract:
145 Washington Court
115 Washington Court

Vulture investors: They’re back – and making a bundle
By Les Christie, staff writerAugust 5, 2010

NEW YORK (CNNMoney.com) — These are the glory days of the residential real estate investor. Low prices, rock-bottom interest rates and stable rental markets have created huge buying opportunities.

“It’s awesome right now. I don’t think we’ll ever see another time like this,” said Tanya Marchiol of Team Investments, which has operations in about 10 states but focuses mostly on the Phoenix market.
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Mortgage Rates Fall to New Low

National average for a 30-year fixed loan is at 4.49 percent
By ALAN ZIBEL
Associated Press

Mortgage rates dropped to the lowest level on record for the sixth time in seven weeks, offering the most attractive opportunity in decades for those who qualify to refinance or purchase a home.
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Important RE: CA Buyer Tax Credit

CAR is predicting that the money allocated for the CA first-time homebuyer credit may run out in 10 – 20 days (or less) once the program starts on May 1.

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Santa Rosa…Best in the Nation

Folks, now is the time to buy here in the Wine Country, we are poised for a great recovery and not only will you have a solid investment, but what a beautiful place to come to!

I found this article on CNNMoney.com:

Where Homes Prices Are Rising

Les Christie, CNNMoney.com

Mar 19th, 2010

The drama is nearly over. After a decade of extremes—the ebullient highs of the real estate boom, then the devastating lows of the bust—calmer forces are beginning to prevail in the housing market. The big fall-off in home values, which has taken the median price of a house down almost 30% since 2006, looks to be in its final stages in most places: Three-quarters of the nation’s 384 metropolitan areas will see prices down less than 5% a year from now, according to projections from Fiserv and Moody’s Economy.com; 10% seem poised for modest increases. Meanwhile, Uncle Sam is lending a steadying hand with programs designed to prop up the market — at least for a while yet.

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Resource for Mortgage Rate Trend Information

Here is a resource for information on mortgage rate trends. Bankrate.com provides a tool for creating simple charts in a variety of types for periods of 3 months to 5 years. Sometimes it’s nice to have a simple chart, and there are so many situations in which this could come in handy.

January 2010 Update

The data below is from sources deemed reliable but may contain errors or omissions, and is not warranted. Sales not reported to MLS (such as many new-development condo sales) are not reflected in these statistics. Median prices may fluctuate for other reasons besides changes in value.

http://www.paragon-re.com/Docs/General/SixtyFortyImages/1-10_Median_Price_by_Prop_Type.JPG

SF Median Home Price by Property Type
Depending on neighborhood, SF home values peaked in 2006, 2007 or 2008, then declined dramatically in the 2nd half of 2008 (especially after 9/15/08), and then recovered (somewhat) with the surge in sales that began in spring of 2009. The increase in TIC median price in the 4th quarter of 2008 and the 1st quarter of 2009 is an anomaly: very few sales occurred and they do not reflect the reality that TIC values also fell during this period. (A good example of how median prices can fluctuate.) The main point of the chart is the stability of house and condo median prices in the 2nd and 3rd quarters of 2009, and the uptick seen in the 4th quarter. It is too soon to reach definitive conclusions, but it appears that buyer demand is fueling a small increase in values. 
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Limited Exposure to Exotic Mortgages Has Helped Spare San Francisco from Severe Home Price Corrections

Although it has been a difficult year for residential housing markets nationwide, San Francisco has fared better. The market’s inherent high barriers to entry, combined with the city’s limited exposure to exotic mortgage abuse during the most recent housing cycle have helped protect it from the initial wave of home price corrections, according to the latest Market Focus report, published jointly by Rosen Consulting Group and the San Francisco Association of REALTORS®.

The report indicates that in recent months, the San Francisco housing market has shown increasing price stability, particularly at the low-end of the market, while for-sale inventory levels have declined significantly and at a much faster rate in comparison to other parts of the country. Read more »

Broad Improvement in Home Prices

Broad Improvement in Home Price According to the S&P/Case-Shiller Home Price Indices

New York, September 29, 2009 – Data through July 2009, released today by Standard & Poor’s for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, show that, although still negative, the annual rate of decline of the 10-City and 20-City Composites improved compared to last month’s reading. This marks approximately six months of improved readings in these statistics, beginning in early 2009.

Click to Read the Entire Report.

Bay Area Home Prices? Gains or declines?

Yesterday, the Case-Shiller Index — considered the most objective index of US home prices — reported, as pertaining to April to May prices: “10-city and 20-city composites reported positive returns for the first time since the summer of 2006…the first time we have seen broad increases in home prices in 34 months. This could be an indication that home price declines are finally stabilizing.” For the SF Metro Area (i.e. greater Bay Area, NOT just SF), C-S reported gains of .6% March to April, and 1.4% April to May. Year over year, C-S reported an overall metro area decline of 26.1%.

The full article is attached and online at:

http://www2.standardandpoors.com/spf/pdf/index/CSHomePrice_Release_072820.pdf

Where the SF Market is Trending: Summer Slowdown?

San Francisco home market trends as of June 30, 2009. The market continues to strengthen, though the typical summer slowdown is starting to take place and will probably be reflected in July’s numbers.