2012: Finally, Signs Of Improvement

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2012 home sales in the Bay Area were up in January. Several key economic reports showed surprising gains. And even the long job market turned in positive numbers in the initial weeks of the new year.

 

Bay Area home sales in January jumped to their highest level for the month in five full years, according to DataQuick, the La Jolla-based real estate research firm. A total of 5,479 new and resale houses and condos sold in the nine-county region during the month, up 10.3 percent from January 2011. This marked the seventh straight month of year-over-year sales gains.

 

DataQuick attributed the improvement to:

 

            o lower home prices,

            o record-low mortgage interest rates,

            o a surge in investor purchases and

           o an improving economy.

 

While the jump in sales is encouraging, the firm cautioned that activity was still tilted heavily toward distressed sales in many Bay Area markets. As a result, the median sale price dipped 2.8 percent from the previous month and 3.6 percent from a year ago.

 

 

Even more encouraging for the housing market, the labor market is steadily improving. Initial weekly unemployment claims fell 15,000 to 358,000 in a new report by the Labor Department. And the four-week average fell to its lowest level since April 2008, the period before the financial crisis. Finally, the unemployment rate has dropped to a three-year low of 8.3 percent.

 

Most analysts agree that in order to have a self-sustaining recovery in the housing market we first must have a significant turnaround in the job market. There are indications with improvements in recent months that could be happening at long last.

 

While all of these economic and employment reports give us reason for optimism, we can’t ignore the fact that the housing market still faces some challenges before returning to normalcy.

 

Sales have rallied in the new year, but we’d like to see the mix of homes selling move more towards the center of the market and become less reliant on distressed sales. That’s happening in many communities, but far from all.

 

Internet and your privacy

 

 

 

 

 

Dear Friends,

Without attracting too much publicity, LinkedIn, like Google, has updated their privacy conditions. Without any action from your side, LinkedIn is now permitted to use your name and picture in any of their advertisements. (See ch. 2 of their privacy policy: http://www.linkedin.com/static?key=privacy_policy&trk=hb_ft_priv )

Should you not wish to see your name and photo in a LinkedIn advert you can take the following action:

1. Place the cursor on your name at the top right corner of the screen. From the small
pull down menu that appears, select “settings”
2. Then click “Account” on the left/bottom
3. In the column next to Account, select the option “Manage Social Advertising”
4. Finally ensure that the box “LinkedIn may use my name and photo in social advertising” is unticked.
5. and Save

If you wish to inform your own connections you can do so easily:

Simple: Via Inbox – > Compose message in Linkedin, you can send a message to 50 connections at once. All whom will appreciate being informed.

Best regards,

Nino

ngeatano@cbnorcal.com

http://www.mlslistings.info

Welcome

I’m Nino Gaetano, a 3rd generation Bay Area native/resident, realtor and  grandson to one of Portola Valley/Menlo Park’s pioneering families(Skrabo-Croatia). I attended St. Raymond’s School, Menlo-Atherton High School and then Washington State University – majoring in Cultural Anthropology and Sociology. I have 14 years of real estate experience and am an evolving expert in local & national markets. I brokered the largest real estate transaction in Portola Valley town history.  I have  a wealth of industry knowledge, respect among colleagues and am a recognized industry leader in creative technology and marketing homes through the Internet.

My blog is going to address real estate topics of interest. Topics that are of interest to you on a daily basis. I also want my blog to be an Internet location that will on occasion, entertain you by providing you with tips about everything from the ways of the Internet to perhaps an interesting recipe.

Best regards,

Nino

ngaetano@cbnorcal.com

http://www.mlslistings.info