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Inner Parkside Home!

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$745,500 Single Family Home Main Features 3 Bedrooms 1 Bathroom Interior: 1,375 sqft Lot: 2,996 sqft Location 2631 16th Avenue San Francisco, CA 94116 USA To get updates on open home dates and other property events, please click the “Like” button below:

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The Emily and Joyce Team 01497257 / 00497669 Coldwell Banker Residential (650) 278-2241 Emily@EmilyMontero.com http://www.MyHomeValueReportNow.com Listed by: Coldwell Banker Residential

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There is growing demand for homes in the Bay Area, especially in the SF, Peninsula and South Bay Area, but it seems the news hasn’t gotten out to the Sellers yet according to Rick Turley, President of Coldwell Banker Residential in the San Francisco Bay Area.  Below is Rick’s Weekly Market Watch article to find out more…

Bay Area continues to run counter to national housing market

Those of us that have lived in the Bay Area for years know that this region has always been a little different than the rest of the country. And most of us are glad that’s so! The state of the housing market is one more example of the Bay Area running counter to national norms.

Anyone who watches the network news or reads a national publication can’t help but come away feeling that every housing market in the country is suffering equally, thanks to a glut of inventory and a lack of qualified homebuyers.  And while that’s true in some outlying areas of the Bay, it’s generally incorrect in most of our region.

To the contrary, we continue to see growing demand by very serious buyers looking to purchase homes. And while some are scouring the landscape for bargain basement distressed properties, many are seeking good, well-maintained homes at fair prices. And there continues to be a very strong demand for properties in the middle and upper ends of the market, including million-dollar homes.

The real problem we’re facing here in the Bay Area isn’t a lack of buyers; it’s a lack of sellers. Many homeowners who would like to sell their homes have been sitting on the sidelines, still believing that the market is in the depths of a recession. They still fear that they will have to take drastic price cuts in order to sell.

I’m afraid that the news hasn’t gotten out to them that things have changed for the better over the past year or two. Sellers no longer must sell their properties at fire-sale prices to get buyers attention. In fact, fairly priced homes that are well maintained and in good neighborhoods are not only being sold fairly quickly these days, but in some cases with multiple offers.

What makes the Bay Area different from the rest of the country, which is still battling a very sluggish housing market? It starts with our strong economy.

As a result of vibrant high-tech, biotech and social media industries from Silicon Valley up the Peninsula to San Francisco, the Bay Area is home to some of the best-paid knowledge workers in the country. These are well-educated engineers, programmers, financiers, and other highly educated professionals with money to invest and a desire to own a home. Add to that the supporting cast of back-office and headquarters jobs that have been created by thriving tech companies over the years and it’s easy to understand why demand for the Bay Area’s limited housing has never been stronger.

Local Market Monitor, a national firm that analyzes housing markets for the banking industry, recently issued a three-year forecast of the best and worst housing markets in the country out of the 100 largest markets that it covers. Ranking second in the nation – the San Jose-Sunnyvale-Santa Clara housing market.

A story on the study in MarketWatch noted that home prices in Silicon Valley “are close to a bottom…and there’s already a good recovery underway in the job market, driven by high-tech manufacturing and technology services. Income levels are high, and population growth is slightly above average.”

During the housing boom (between 2002 and 2007), home prices rose 43% followed by a 21% drop, the report showed. “The San Jose recovery is clearly connected to the high-tech sector…and during the recession, 30,000 tech jobs were lost, but 16,000 have been regained since 2009. These are high-paying jobs that affect the housing market,” Local Market Monitor added.

While no one’s predicting an immediate return to the red-hot housing market of years ago, clearly things are looking up for much of the Bay Area.

For sellers who have been holding off listing their properties, I would strongly urge them to reconsider. Right now the math is in a reluctant seller’s favor. Interest rates remain near historic lows, the economy is gradually improving, and the Bay Area has more than its share of anxious buyers trying to purchase a home – but not enough homes to meet that demand.

The sum of these conditions mean that the balance between supply and demand is actually tipping in many homeowners’ favor, as hard as that is to believe after what we went through in recent years. This could very well be a surprisingly good time to sell a home, before everyone else catches on to the real story of the Bay Area housing market.

Below is a market-by-market report from our local offices:

North Bay – There seems to be an excitement and energy in the air, with large numbers of potential buyers attending Sunday open houses, our Southern Marin office reports. Homes that have been sitting from last year are getting offers.  Sales activity and inventory are both increasing again. And there have been 10 ratified offers in local market of late. Our Greenbrae manager says sales activity and inventory have been steady recently with five ratified offers in the past couple of weeks. In Northern Marin, both sales activity and inventory levels have declined in recent weeks.  Our Northern Marin office reports two ratified offers recently. The big challenge for Santa Rosa agents is a lack of inventory in the local market. Inventory levels in the under-$500k price range at the end of December were less than 1.5 months’ worth of homes. In the $1M plus category the inventory levels are high. REO and short sales activity are still having a significant impact, putting downward pressure on prices. Many agents have a good number of qualified buyers they are working with and are just looking for good inventory to sell. In Sebastopol, inventory is also down but sales activity is increasing. Agents are seeing big crowds at open houses.

San Francisco – There has been no New Year’s listing surge as yet, according to our San Francisco Lombard office manager. Agents are in need of inventory at all levels. One fixer-upper brought 10 offers, he said. The Market Street office says it is still waiting for a surge of new listing inventory after the holidays.   There continues to be a shortage of listing inventory and a pent up buyer demand for new property.   Well priced, or even slightly underpriced, listings are seeing multiple bids regularly.   Open house traffic is very busy, and there are a lot of new homebuyers out there, particularly first time buyers, who are unaccompanied by agents.    Listing agents are encouraging sellers to refrain from waiting for the usual spring season and asking owners to get their homes ready to sell now.  Our Sunset office manager reports a very slow start for the first two weeks of the year.  Open houses are still very active with many buyers looking but lack of inventory is hurting sales activity. Finally, the San Francisco Van Ness office says the market has been fairly steady at the beginning of 2012 with 14 ratified offers, two of which were multiple offers.

SF Peninsula — There’s been a slight movement forward in the local market, according to our Burlingame North office manager. The South Bay activity should be prompting activity up the Peninsula, but many people are still on the sidelines waiting for more positive news, which is starting to emerge slowly. Across the hills, our Half Moon Bay manager said it has been a good beginning to 2012. There is more activity in all segments of the market and agents say that sellers are pricing their homes more realistically for today’s market. There has been a fair amount of ‘underground’ work going on – deals being teed up and will be completed zoom – according to our Menlo Park manager. In Palo Alto, our local office reports that the market has started the year extremely slow.  Extremely low inventory is taking its toll on sales, not only in Palo Alto but the surrounding areas as well. Portola Valley’s manager also reports low inventory and slower sales activity. In Redwood City, our local office says serious buyers are attending open houses and agents are seeing more multiple offers. Our San Mateo manager says agents have noticed very healthy turnouts for open houses in the area.  The local inventory is fresh and getting plenty of interest/offers.

East Bay – Both sales activity and inventory levels are starting to pick up, our Castro Valley office reports. The office has had 15 open houses in the past couple of weeks. In Fremont, our local manager says there have been 16 ratified offers of late, two of which were multiple, although he reports activity easing. Overall inventory in Livermore is at 12 month low with 152 listings.  Over 81% of the pending sales to date in Livermore were listed at or below $500,000 and 43% of the new pending sales in Livermore were distressed sales. Our local manager says the market needs more good listings. The Oakland/Piedmont market is picking up in all price points. Buyers coming into open houses are fully approved and ready to buy the right home for them. Inventory is low so some of the listings that have been on the market for a while are now going into contract. Agents, buyers, and sellers are very optimistic about 2012. Our Orinda manager says the Lamorinda market is holding steady with 14 ratified offers, four of which were multiple offer situations.  Inventory still remains low in Pleasanton, but the outlook is positive.  With interest rates at an all-time low, buyers are eager to buy homes. Agents just need more homes on the market. Our Walnut Creek manager says prices are still flat. There has been lots of traffic in open homes, but some buyers are still thinking they can wait for better prices.  Nonetheless, new listings are selling quickly –most with multiple offers – as inventory remains low.

Silicon Valley – Our Los Gatos office continues to be optimistic about the outlook for 2012.  There have been 25 ratified offers in recent weeks, six of which were multiple offer situations. Inventory continues to be very low in the local market.  The agents are searching everywhere for more inventory to sell.  The beginning of the year started with an increase in accepted offers, according to our San Jose Willow Glen manager. His office has seen 15 ratified offers in recent weeks. Similarly, the San Jose Almaden office reports an increase in both inventory and sales activity with 17 ratified offers, most of which were multiple offers. Energy is picking up significantly in the Saratoga area after a slow start to the year. Agents are active and working their new pipeline. Our local manager is anticipating strong inventory growth over the next few weeks.

South County – South County is experiencing a huge drop off in inventory. Gilroy inventory is hovering below 90 homes. As a result, we are seeing a surge of buyer interest with almost every transaction having multiple offers. Our Gilroy office held its first Open House Extravaganza recently, with great success. Most open houses were attended double the average number of attendees at a normal open house. Sales are off to a fast-paced start for January – not the norm. There is an old saying in real estate—“the market doesn’t really pick up until after the Super Bowl.”  Morgan Hill and Gilroy agents alike are reporting, however, that despite “49er Fever”—attendance at open houses was somewhat remarkable the past couple of weeks.   Buyer interest is certainly high and with the dwindling inventory, buyers are finding fewer homes from which to choose.  The average sales price in 2011 for homes sold by the Morgan Hill office was $458,000, down from $475,000 the previous year.   The softening of prices coupled with great interest rates certainly reiterate why this is an excellent time to buy.  Because of the low inventory, however, buyers are finding that they need to make a quick decision when a well-priced home that shows well comes on the market.

That’s it for now. Have a great weekend. (Article by Rick turley, President, San Francisco Bay Area Coldwell Banker Residental Brokerage)

If you or someone you know is thinking of Selling your house in the next 6 months and are not sure if this is the right time for you, call us now at 650-278-2241  to find out what your house is worth in today’s market.  There’s no cost or obligation. We can set you up on your own special site to view the market in your area monthly.

Emily and Joyce

The Emily and Joyce Team
Emily: 650.278.2241
Joyce: 650.888.1331
theemilyandjoyceteam@gmail.com
CA DRE# 01497257 | 0049769

While the housing market had its challenges in recent years, there could be reason for optimism as we begin the New Year. Some of the nation’s top housing economists believe that the worst of the downturn may be over, and predict we’ll see gradual improvement in home sales and prices this year.

That would be good news for both home sellers as well as potential buyers, many of whom have been sitting on the sidelines waiting for confirmation that the real estate market is truly on the mend before they take the plunge and buy.

Lawrence Yun, chief economist of the National Association of Realtors, said in his annual forecast that home sales should be stronger in 2012.

“There is a sizeable pent-up demand based on population growth, employment levels and a doubling-up phenomenon that can’t continue indefinitely,” he said in a NAR news release. “This demand could quickly stimulate the market when conditions improve.”

Housing demand will also be driven by the health of the nation’s overall economy and the job market, Yun said. He forecasts GDP growth will finish at 1.8 percent for 2011 and then rise moderately to 2.2 percent in 2012. Additionally, Yun expects job growth of 1.7 to 2.2 million this year and the unemployment rate to fall to 8.7 percent in the second half of 2012.

Housing Affordability High

For homebuyers, housing affordability right now is as good as it has been in decades as a result of near record low mortgage interest rates and reduced home prices in many markets. NAR expects those conditions to continue for much of this year.

Average mortgage interest rates for the week of January 16, for example, stood at 3.88 percent for a 30-year conforming fixed rate loan and 3.22 percent for a 15-year fixed rate loan, according to Bank Rate Monitor, the widely followed financial publishing website.

“Housing affordability conditions, based on the relationship between median home prices, mortgage interest rates, and median family income, have been at a record high,” Yun said.

“Very favorable affordability conditions will dominate (2012) as well, which will probably be the second best year on record dating back to 1970,” he noted. “Our hope is that credit restrictions will ease and allow more home buyers to take advantage of current opportunities.”

Rates Keeping Payments Low

Lower interest rates on top of more affordable home prices can make a big difference for first-time homebuyers. For someone purchasing a $500,000 home, putting 20 percent down and borrowing $400,000, that average 30-year fixed rate mortgage of 3.88 percent translates into monthly principal and interest payments at $1,882 today.

If that same home were to climb even 10 percent in price and mortgage rates increased just one percentage point, it may be harder for many first-time buyers to qualify. Borrowers would be looking at a monthly payment $500 higher than they have today in that scenario.

The combination of low interest rates on top of affordable home prices offers buyers a window of opportunity to jump into the market, whether they are first-time buyers looking for a starter home, someone hoping to move up to a larger property or a family considering the vacation home of their dreams.

Home Sales To Rise in 2012

NAR economists believe favorable market conditions and an improving economy will lead to an increase in home sales in 2012. The organization forecasts existing-home sales will rise 4 to 5 percent this year after increasing about 1 percent in 2011.

On the new home front, NAR expects sales to jump from a record low 302,000 units in 2011 to 372,000 in 2012. Housing starts are forecast to rise 8 percent to 630,000 this year as well.

With the inventory of homes declining in many areas, consumers can expect to see home prices gradually begin to rise again this year, NAR said. “Given an over-correction in prices, there likely will be moderate appreciation in 2012,” Yun said.

“Once home prices turn positive on a sustained basis, consumer confidence will rise and help the broader economy to improve,” he added.

NAR isn’t alone in its assessment of a market turnaround.

Noted housing economist Liz Ann Sonders of Charles Schwab said in a recent report that “we’re seeing a light at the end of the housing tunnel.” The senior vice president and chief investment strategist for Schwab pointed out that the pending-home-sales index surged more than 7% last month to its best level since April 2010.

“At that point, housing was artificially supported by the homebuyer tax credit,” she said in her new economic forecast. “The last time that pending sales were at the current level without government support was June 2007.”

Adding to the optimism, Sonders said in her report, was the fact that the latest construction spending report was well ahead of expectations with most of the gains in private housing.

California Housing Outlook

Leslie Appleton-Young, Senior Vice President and Chief Economist for the California Association of Realtors, believes the Golden State’s housing market will also improve this year, although the recovery will be gradual.

Appleton-Young is calling for a 1 percent increase in sales in California to 496,200 this year following essentially flat sales in 2011.

“The most likely scenario is for the modest recovery to continue, and this should push sales up slightly next year and maintain levels that are significantly higher than those recorded during the depths of the housing downturn,” she said in her report.

While no one knows for sure what will happen to the housing market in the coming year, many analysts agree that things are getting better.

One important indicator – pending home sales – saw a year-over-year increase for the seventh straight month in November, according to CAR. And closed sales were up for the fifth consecutive month as well.

An improving job market and overall economy could translate into a rebound for the housing market as well.

So if you have been holding off buying a home, this may be the year you’ll want to jump back into the market while prices, interest rates and overall affordability are still in your favor. Give us a call and we’ll help make your dream of homeownership a reality in 2012.

What is your outlook about the Housing Market in 2012 and/or how it could impact you? We would love to hear from you.  Call or email now for free access to your very own site to determine your property value.

EMILYAND JOYCE

Dial 211 if don’t know where to turn

At this joyous time of year, we are grateful for our work with you.  As we get ready to move into a new year, we like to ask that you keep us in mind when you hear or know of someone who is thinking of buying or selling. Our business thrives through personal contact and your help is invaluable. It is through referrals from wonderful people like you that it continues to grow.

We hope you have a fantastic holiday season, and please know that we will always be ready with the same level of service, follow through and dedication for you, your family and friends.

We wish you a wonderful New Year filled with abundance, joy and treasured moments.

Best Wishes,

Emily and Joyce
Your Best Real Estate Solution

by Emily Montero and Joyce Bartel on September 19, 2011

Does your house feel like a cold winter’s day on the first floor and a tropical forest upstairs?

Below are two energy saving programs that may be of interest to you.

• Energy Upgrade California
• House Energy Rating System (HERS)

The first action people often take in energy savings is to look at window replacement while adding an air conditioner. Both may help cool things down a little but at what cost. And often insulation or duct sealing is often a better option. Looking at the full scope of what is required up front can save you time and money.

Energy Upgrade California is a great program if you live in California, own a single family home, whether you live in it or rent it out as a landlord.  If you want a more comfortable house to live in,  help the environment and save money then this may be a worthwhile  program for you.

The Energy Upgrade California program was created to incent California homeowners to reduce energy use. This is a partnership between the California Energy Commission and the California Public Utilities Commission and finally supported in part by the local utility companies.

If you live in a single-family home in California you may qualify for incentives if you use a participating contractor for a home energy assessment. You may inquire if you need the Basic Package or the Advanced Package Options or a combination of both.

Basic

Air sealing
Attic insulation

Duct sealing
Hot water pipe insulation
Thermostatic shutoff valve
Carbon-monoxide monitor
Combustion safety testing
Low Flower showerheads (recommended

Advanced Package Options

Basic Upgrade Package plus:

High-efficiency furnace
Energy-efficient cooling
Water heater system
Energy-efficient windows
Duct replacementOther custom-energy saving measures

Remember to talk with at least three contractors and make sure you are comfortable with them before you pay for an Energy Assessment which may range from $400-$800 without the credit. The contractor you select  may give you a discount on the energy assessment audit fee.  There must be a quality assurance check after the work is completed to verify that the home is safe. You can determine if your county such as San Mateo County will match $$$ that your local utilities will rebate and/or help offset some of the cost for the Energy Assessment.

Time is running out for the Home Energy Rating System rebate of up to $250. The rebate is available through the Realtor’s Energy Audit Program, developed by the California Association of Realtors, when a HERS — Home Energy Rating System audit is conducted by a certified HERS rater. To qualify for the program, applicants must:

• Purchase a home between Oct. 1, 2010, and Dec. 31, 2011.

• Conduct a HERS audit either before the close of escrow as part of an FHA Energy Efficient Mortgage, which provides additional financing for energy upgrades to a home, or no later than 60 days after the close of escrow.

• Use a California Realtor in the transaction. Referrals do not qualify.

• The buyer’s primary single-family residence must be purchased in California.

• Download, review and complete an application. Applications must be submitted by an active California Realtor.

• Go to www.carhaf.org/members/hafmainpage/reap to get an application form and for more
detailed information. To find the nearest HERS-certified rater go to www.calcerts.com.

For tips on how to upgrade a home using rebates, incentives and money-savings energy improvements go to www.energyupgradecalifornia.com.

Other sites to help you:

http://www.dsireusa.org/ (Data Base for State Incentives and Renewables and Efficiency)

http://www.pge.com/myhome/saveenergymoney/energysavingprograms/euca.shtml