Bay East June 2009 Market Statistics and Analysis

Click here for latest sales statistics and market analysis for

* Detatched and Attached homes, respectively

in the following cities:

*Alameda,
*Castro Valley
*Danville
*Dublin
*Fremont
*Hayward
*Livermore
*Newark
*Pleasanton
*San Leandro
*San Lorenzo
*San Ramon
*Union City


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June 2009 Market Analysis: Fremont

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From 2009_06

From 2009_06

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May 2009 California Median Home Prices

C.A.R. reports May home sales increased 35.2 percent, median home price declined 30.4 percent. The median price of an existing, single-family detached home in California during May 2009 was $267,570, a 30.4 percent decrease from the revised $384,540 median for May 2008, C.A.R. reported. The May 2009 median price rose 4.2 percent compared with April’s $256,700 median price.

For the overall San Francisco Bay Area, the median price was $460k which is a 4.3% increase from prior month, and 33% lower than the same period last year

Quick Facts:

· Existing, single-family home sales increased 35.2 percent in May to a seasonally adjusted rate of 556,590 on an annualized basis.

· The statewide median price of an existing single-family home increased 4.2 percent in May to $267,570, compared with April 2009.

· C.A.R.’s Unsold Inventory Index fell to 4.2 months in May, compared with 8.7 months in May 2008.

. Thirty-year fixed-mortgage interest rates averaged 4.86 percent during May 2009, compared with 6.04 percent in May 2008, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.75 percent in May 2009, compared with 5.24 percent in May 2008.

. The median number of days it took to sell a single-family home was 53.5 days in May 2009, compared with 49.2 days (revised) for the same period a year ago.

Clicks links below for more analysis and summary of regional sales and price activity, as well as median price in each county and city.

If you are interested in finding out the median price and sales data for a particular neighborhood or city, please send me an email to meimei@calMBArealty.com to let me know.


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Tax credit can be used as additional down payment

Qualified, first-time home buyers using a Federal Housing Administration (FHA)-insured mortgage now can apply the $8,000 federal tax credit toward their down payments, the Dept. of Housing and Urban Development (HUD) announced today.

Currently, borrowers applying for an FHA-insured mortgage are required to issue minimum down payments of 3.5 percent. Previously, FHA-approved lenders were not allowed to monetize the tax credit as part of the 3.5 percent; however, under the new guidelines announced this afternoon, borrowers now can use the tax credit as additional down payment, or for other closing costs.

For more information, please visit: http://www.hud.gov/news/release.cfm?content=pr09-072.cfm

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April 2009 California Median Home Prices

C.A.R. reports March home sales increased 49.2%, median home price declined 36.5%. The statewide median price of an existing single-family home increased 1.4 percent in April to $256,700, compared with March 2009.

Quick Facts:
• Existing, single-family home sales increased 49.2 percent in April to a seasonally adjusted rate of 540,360 on an annualized basis

• The statewide median price of an existing single-family home increased 1.4 percent in April to $256,700, compared with March 2009

• C.A.R.’s Unsold Inventory Index fell to 4.6 months in April, compared with 9.8 months in April 2008• The median number of days it took to sell a single-family home declined to 48.7 days in April 2009, compared with 51.8 days in April 2008.
. Thirty-year fixed-mortgage interest rates averaged 4.81 percent during April 2009, compared with 5.92 percent in April 2008, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.82 percent in April 2009, compared with 5.19 percent in April 2008.

. The median number of days it took to sell a single-family home was 48.7 days in April 2009, compared with 51.8 days (revised) for the same period a year ago.
According to the report announced by California Realtor Association on 5/28, The median price of an existing, single-family detached home in California during April 2009 was $256,700, a 36.5 percent decrease from the revised $404,470 median for April 2008, C.A.R. reported. The April 2009 median price rose 1.4 percent compared with March’s $253,040 median price. For the overall San Francisco Bay Area, the median price was $441k which is a 9.2% increase from prior month, and 36.5 % lower than the same period last year.

Clicks links below for more analysis and summary of regional sales and price activity, as well as median price in each county and city.

Data for Alameda county is not available at the release. However, I can get it from our local MLS. If you are interested in finding out the median price and sales data for a particular city, please send me an email to meimei@calMBArealty.com to let me know.

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March 2009 California Median Home Prices

C.A.R. reports March home sales increased 63.8 percent, median home price declined 39 percent.
Quick Facts:
• Existing, single-family home sales increased 63.8 percent in March to a seasonally adjusted rate of 522,980 on an annualized basis.

• The statewide median price of an existing single-family home increased 2.2 percent in March to $253,040 compared with February 2009

• C.A.R.’s Unsold Inventory Index fell to 5 months in March, compared with 12.2 months in March 2008

• The median number of days it took to sell a single-family home declined to 48.3 days in March 2009, compared with 56.8 days in March 2008.
. Thirty-year fixed-mortgage interest rates averaged 5 percent during March 2009, compared with 5.97 percent in March 2008, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.86 percent in March 2009, compared with 5.12 percent in March 2008.

. The median number of days it took to sell a single-family home was 48.3 days in March 2009, compared with 56.8 days (revised) for the same period a year ago.
According to the report announced by California Realtor Association on 4/27, the median price of an existing, single-family detached home in California during March 2009 was $253,040, a 39 percent decrease from the revised $414,520 median for March 2008. The March 2009 median price rose 2.2 percent compared with February’s $247,590 median price. For the overall San Francisco Bay Area, the median price was $403,780 which is a 1.2% increase from prior month, and 42.7 % lower than the same period last year.

Clicks links below for more analysis and summary of regional sales and price activity, as well as median price in each county and city.

Data for Alameda county is not available at the release. However, I can get it from our local MLS. If you are interested in finding out the median price and sales data for a particular city, please send me an email to meimei@calMBArealty.com to let me know.


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C.A.R. launches Mortgage Protection Program for First Time Home Buyers

First-time home buyers may be eligible to receive $1,500 for six months to help make mortgage payments if they are laid off.

To help provide first-time home buyers with peace of mind when purchasing a home, the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) Housing Affordability Fund is offering a new mortgage protection program to first-time home buyers.

Through the C.A.R. Housing Affordability Fund’s Mortgage Protection Program, first-time home buyers who lose their jobs due to layoffs may be eligible to receive up to $1,500 per month, for six months, to help make their mortgage payments. A qualified co-buyer also can participate in the program, and receive a monthly benefit of $750 per month for up to six months. Program benefits also include coverage for accidental disability and a $10,000 death benefit.

For more information including eligibility requirements and information on applying for the C.A.R.H.A.F. Mortgage Protection Program, please click here.

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