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One of the stories that found its way to the headlines recently was that the number of home sales may have been overstated for the past few years by the National Association of Realtors. As a Bay Area resident and homeowner, I’m not so sure that is headline worthy news. 

  As far as I’m concerned, the more important story was that Bay Area home sales were up in January compared to the same month a year ago. DataQuick, the real estate monitoring service reported that 4,966 homes sold in January 2011, which was lower than December numbers but higher than January last year.

  What we do know is that January and February are typically slow months for housing. DataQuick pointed out that this makes it difficult to use these months as trend predictors. But, however you read the numbers, a year-over-year increase is a good thing.
 
Adding a local flavor, a home in our neighborhood just sold in less than two weeks with multiple offers.

  What else is new in the Bay Area as look at the numbers for January 2011?

• The median price for new and resale houses and condos decreased to $338,000 in January from $350,000 a year ago.
• Higher-cost homes are still being influenced by the affects of the credit crisis, which made adjustable-rate mortgages and "jumbo" loans more difficult to get. Jumbo loans accounted for 60% of the Bay Area home loan market more than three years ago, and accounted for only 27.1% of the market in January of this year.
• Foreclosure activity remains high, but is below the peak levels reached two years ago, the report said.

I didn’t say we were heading for the stars, but, all in all, not a bad beginning for 2011, especially considering the past three years.

  As the months of 2011 roll by, remember the importance of discovering the data in your local market. While what is talked about at the national level in real estate may be interesting, it very often has nothing to do with the market where you live.

With the complexity in today’s mortgage and real estate market you will benefit from the advice and guidance of an experienced and knowledgeable mortgage and real estate professional. To see how our technologoy supports the needs of Buyers and Sellers, click here.
 

Now, our clients never leave our side, no matter what, and it’s really saving critical moments if not days in the loan and real estate process. Believe me it does streamline the process for everyone.

I’ve always taken my business seriously but now I take it with me as well.

I’m always available to answer your questions or discuss your concerns.  Just text, call (650 325 7877) or email me for a prompt response.  If you are in the San Francisco Bay Area, I invite you to take a look at our Resource Center,  www.AboutBayAreaHomes.com. There you will find links for active home listings,  home loan information, market activity reports ,home seller strategies, staging and decorating, a suite of 19 calculators, plus my book, “Let’s Make a Deal, The Insiders Guide to Buying and Selling Real Estate” and more.

Russ Boyd and his team professionally assist buyers, sellers and homeowners in the Peninsula Communities of the San Francisco Bay Area. They serve clients in San Mateo, San Francisco, Santa Clara, Alameda and Contra Costa counties. Licensed as a Real Estate Broker by the California Department of Real Estate, 01264240. National Mortgage Originator License 230411.