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Rebecca White
Keller Williams Realty
1500 Franklin St.
San Francisco CA 94109
415-412-1977

Rebecca White's MAY Newsletter

San Francisco Median Price Up & Existing Homes Sales on the Rise

In San Francisco for the month of April, 2010, the median price of a single-family home rose more than 10% from April of last year ($706,500 to $788,750). This increase of $82,250 in median sales price is an 11.65% gain for homeowners in San Francisco.

The number of sales increased as well from 148 last year to 188 in April of 2010. This is a remarkable 27% increase in the number of single-family houses sold.

On the national level, existing-home sales were up 6.8 percent in March as buyers took advantage of favorable conditions, according to a recent report by the National Association of REALTORS (NAR). Year-over-year, existing-home sales are up 16.1 percent to a seasonally adjusted annual rate of 5.35 million units expected for 2010.

Existing Home Sales By Region

Experts believe March's lift is a sign of things to come. "Sales have been above year-ago levels for nine straight months, and inventory has trended down from year-ago levels for 20 months running," said Lawrence Yun, NAR chief economist. "The home buyer tax credit has been a resounding success as these underlying trends point to a broad stabilization in home prices. This is preserving perhaps $1 trillion in largely middle class housing wealth that may have been wiped out without the housing stimulus measure."

In March, first-time buyers were responsible for 44 percent of homes sold, with investors responsible for 19 percent of the sales, and repeat buyers responsible for the rest. Housing inventory is currently at 3.58 million units, which represents an 8.0-month supply at today's current selling pace. This is 1.8 percent lower than it was at the same time last year.

"Foreclosures have been feeding into the inventory pipeline at a fairly steady pace and are being absorbed manageably," Yun said. "In fact, foreclosures are selling quickly, especially in the lower price ranges that are attractive to first-time home buyers."

Call me today at 415.412.1977  if you are interested in getting a great deal on a FORECLOSURE property!!

Or finding out how much YOUR home may have increased in value. With interest rates still low, it is a good time to SELL as buyers are wanting to take advantage of these low rates! 

Tax Credits for Energy Improvements & The Low Cost of Financing

 

Tax Credits for Energy Improvements  

Although the $8,000 tax credit has expired for first time buyers, many folks are still eligible for another home-related tax credit that's available through the end of the year. The American Recovery and Investment Act of 2009 provides homeowners with a tax credit for select energy upgrades on existing homes. Windows, doors, water heaters, insulation and other products are eligible. The tax credit is equal to 30 percent of cost of eligible product, up to $1500 for all improvements combined during 2009 and 2010. Manufacturer certification statements are required to be eligible for the tax credit. Be sure to check with your supplier for details.    

 

 The Low Cost of Financing 

Home financing costs are at historic lows, making home ownership a reality for many first time buyers! Freddie Mac is reporting that the average commitment rate for a 30-year fixed rate loan is hovering around 4.97 percent as of March 2010. This is slightly below the 5.0 percent commitment rate available last year. Many experts see rate increases on the horizon, as our nation's housing markets improve and inventory stabilizes. If you are considering a home purchase or a refinance, be sure to work with a loan officer who understands your needs, has a reputation for excellence, and is able to fund your property in a timely manner. A little homework can save you thousands of dollars. Contact us today for our list of local recommended mortgage lenders. 

CALL ME TODAY at 415.412.1977 to find out how much YOUR home may have increased in value.  

 

With interest rates still low, it is a good time to SELL as buyers are wanting to take advantage of these low rates!  

20 FUN Activities in San Francisco

Friends or family coming to San Francisco this summer? Here's an awesome little guide -- written by my friend Richard Burton -- to 20 different tours of San Francisco.  See San Francisco by land, sea, air, on a Segway, or perhaps just take a walking tour! There's something here for everyone. View the guide, print it, save it! 

       Visit either of my websites:  www.RebeccaRealtor.com  or www.ShortSaleSanFrancisco.com  for more real estate information and to see all my listings!    

  Or visit my Facebook page to hear more of my thoughts on what's going on in real estate in the Bay Area:  www.Facebook.com/SanFranciscoHomes

  And you may call me anytime for immediate assistance:  415.412.1977. 

Rebecca White
Keller Williams Realty
1500 Franklin St.
San Francisco CA 94109
© 2003 – 2010 Real Pro Systems, LLC
Last modified 9/3/2010