Barry Ripp ~ East Bay Area Real Estate

Affordable home prices, tax credits for home buyers, historically low interest rates, and a large number of distressed properties prompted many first-time home buyers to enter the market in 2009, according to C.A.R.’s 2009-2010 “State of the California Housing Market” report released today.

 California’s median home price hit bottom in February 2009 at $245,170.  Since then, the median home price has increased steadily in month-to-month comparisons, but remained below 2008 levels throughout 2009.  The annual median price is projected to increase to $280,000 in 2010 from $271,000 in 2009.

 Homes priced $500,000 or less dominated the sales mix throughout 2008 and early 2009, but peaked at 85 percent in January 2009.  Meanwhile, the market share of homes sold for more than $500,000 increased from 15 percent in January 2009 to 25 percent in July 2009, holding steady around that figure for the remainder of last year.

 So if you are thinking of buying, what’s stopping you? Contact me and I can show you your next step, why wait any longer?

It appears our local schools need more money. The Fremont Unified School District (FUSD) is considering placing a school funding parcel tax on the November ballot.  According to our sources, the amount of the tax would be less than $100 per parcel; it would generate up to $5 million annually, eligible senior citizens would be exempt and the tax would end in five years.  Individually it’s not too much, but is it what the people want? We’ll see. The tax is only a proposal at this point and the FUSD has not made a final decision about placing the tax before Fremont voters in November.

  ~ Barry Ripp