There certainly has been a turnaround in media coverage regarding the state of the housing
market. In the Bay Area, those of this in the business saw the market begin to shift late last
I took a look at previous blog posts and commented in August 2011 that falling inventory
would contribute to market stabilization. In a December 2011 blog post I pointed out that it was
better to buy than to rent in 70% of the US market. Only one month later the topic of my blog post
was optimism after reviewing the end of the year statistics.
Where does all this lead us now that we are in mid-summer 2012? How about the recent Forbes
home price was $189,400 in June, up 7.9% from a year ago. This marks four monthly price
increases from a year earlier, and June's gain was the strongest since February 2006 when the
median price rose 8.7% from the previous year.
Of course, there are always the naysayers, however, one thing we all know from experience is that
the low interest rate environment is a huge win for buyers and it won’t last forever. Think about it,
the payment difference on a $400,000 loan is $248 when the interest rate increases from 4% to
So, what we do know that there is more value in buying is better than renting in most of the Bay
Area and home prices have not only stabilized but they are actually increasing. The upcoming fall
and winter months could be the ideal time to get prequalified, find a qualified agent and make
owning a home a reality.
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.
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, AboutBayAreaHomes.com. There you will find links for
active home listings, home loan information, market activity reports, home seller strategies,
staging and decorating ideas 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.
Russ Boyd Licensed as a Real Estate Broker by the California Department of Real Estate,
01264240. National Mortgage Originator Endorsement 230411.