Bay Area home sales are continuing to rise, with the median sale price the highest it has been in nearly four years, according to a real estate report released Wednesday.
In the nine-county Bay Area, 8,461 homes were sold last month — a 22.9 percent increase from the same time last year, according to a report by the real estate information service DataQuick. The average figure for July, based on data recorded since 1988, is 9,371 home sales. Read More
The cheerleaders of the America’s Cup have promised the yacht race will bring in more than $1 billion of economic activity to the region. But Bob Schwenke would be satisfied with just $25,000 of that windfall.
“It hasn’t created any economic activity for me yet, but it’s still a little bit early,” he said. Read More
What a difference a year makes.
Last year at this time, The City was reeling from the loss of 15,000 jobs that resulted in millions of square feet of office space being vacated. Read More
Just in case you haven’t been reading the real estate section, former Mayor Gavin Newsom’s house hit the market this week.
For more pictures of Gavin Newsom's home, click on the photo to the right. Read More
There was supposed to be some good news amidst the dismal report card of the U.S. real estate market. On average, houses have lost a third of their value since the peak in 2006. Blighted Detroit has seen home prices fall to half their old level, and overbuilt Las Vegas is off by 60 percent. Standard & Poor’s Case-Shiller index showed that home prices are falling again, at their fastest rate since the days of the financial crash. Read More
Vacant foreclosed homes could be bought up by nonprofits and resold to low-income buyers under a new county pilot program.
Communities in other areas hit hard by the foreclosure crisis have been able to use federal Neighborhood Stabilization Program funds to buy, rehabilitate and resell foreclosed properties. However, San Mateo County has been unable to get those funds, according to a staff report from Duane Bay, director of the county’s Department of Housing. Read More
The percentage of “underwater” homes worth less than they are mortgaged for rose sharply in San Mateo County in the first quarter of this year, more than in any other Bay Area county.
San Mateo County homes suffering from what is known as negative equity rose to 17.5 percent in the first quarter of this year as compared to 11 percent last year, Zillow.com reported. The change, driven by falling property values, reflected trends seen at the local, state and even national level. Read More
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One of Belmont’s oldest and most historic homes has come a long way in 126 years. About three blocks, to be precise.
The former home of a prominent citizen, Belmont’s Emmett House was ripped off its foundation nearly three years ago and transplanted to a new location. Read More
San Francisco’s office market is buoyed today by two phenomena: continued growth in the technology sector, and growing general optimism throughout the business community. Read More