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Bay Area has six of the nation’s ten most expensive home markets

Wed, 28 Nov 2012 21:44:28 +0000

Bay Area has six of the nation’s ten most expensive home markets

PARSIPPANY, N.J.

November 28, 2012
5:43am

• The difference between Silicon Valley and the Central Valley

• “A product of ongoing high demand, projected population growth and the low inventory levels”

What’s the difference between living in Los Altos in Silicon Valley and Delhi in the Central Valley?

Just $1,583,834.

That’s the difference in the median prices of homes in the two cities that are just 112 miles apart, according to a new report Wednesday from Coldwell Banker Real Estate LLC, which is listing the media prices it has found in 2,500 markets.

Several of the nation’s most expensive real estate markets are in Northern California, it says. Google, Apple, Facebook and Stanford University are all located within 15 minutes of this year’s most expensive market, Los Altos, where the average listing price of a four-bedroom, two-bathroom home is $1,706,688.

“The success of many of our native tech companies has shined a spotlight on Silicon Valley and our real estate market in the San Francisco Bay Area,” says Rick Turley, president of Coldwell Banker Residential Brokerage in the San Francisco Bay Area. “Listing prices in our market are a product of ongoing high demand, projected population growth and the low inventory levels of homes in what is one of the most desirable locations to live.”

Lowest median in the Central Valley is in Delhi in Stanislaus County where the money that fell off the table in Los Altos might buy a four-bedroom, two-bath home: $122,854.

In contrast, the most affordable market this year is Redford, Mich., where a similar home, four-bedrooms, two-bathrooms, is listed at $60,490 — a listing price difference of more than $1.6 million from Los Altos. In fact, says the report, 28 homes could be purchased in Redford for the price of a similar home in Los Altos.

Overall, the report found the average listing price of a four-bedroom, two-bathroom home in the U.S. to be $292,152. Affordability remains strong in many markets across the country as 36 percent of the markets analyzed by the report had an average home listing price of less than $200,000 for four-bedroom, two-bathroom homes.

The five most expensive markets are all in California, with four in the San Francisco Bay Area. Los Altos tops the list, followed by Newport Beach ($1,658,000), Saratoga ($1,582,434), Menlo Park ($1,506,909) and Palo Alto ($1,495,364). But even with these high priced markets, California was not the most expensive state. The average listing price of a four-bedroom, two-bathroom home in California ($431,625) is less than both Hawaii ($742,551) and Massachusetts ($489,063).

Article source: http://www.centralvalleybusinesstimes.com/stories/001/?ID=22378

Solano County Named One of 100 Best Communities for Young People

Tue, 20 Dec 2011 21:26:44 +0000

Leading Solano County real estate brokerage Andronico Realty is proud to announce that Solano County has recently been named one of the country’s “100 Best Communities for Young People” by America’s Promise Alliance.

Stockton, CA (PRWEB) December 20, 2011

For the fifth consecutive time, Solano County has been named one of the “100 Best Communities for Young People” in the country by America’s Promise Alliance. According to Jacquelin Andronico, founder of leading Solano County real estate brokerage Andronico Realty, this illustrates the fact that the community is a great place to raise a family.

“Solano County has a lot going for it,” says Andronico, whose firm also specializes in homes for sale in Stockton, CA and properties in Sacramento County and other nearby areas. “Solano not only has easy access to the Bay Area, Napa, Sacramento and the rest of the Central Valley, it also has a strong, diversified economic base and a wide range of distinct communities that offer something for everyone.”

Often a top choice of homebuyers looking for affordable Bay Area homes for sale, Solano County is one of the nine counties that comprise the San Francisco Bay Area and is home to a population of more than 413,000. It is composed of a diversity of communities that range from a large city like Vallejo to a small town like Benicia.

“The Solano County real estate market offers everything from Victorian-era homes to waterfront condos to starter homes,” says Andronico. “If you don’t find what you’re looking for here, you can also take a look at what’s available in nearby Sacramento County or San Joaquin County. Whatever your real estate goals are here, we will be more than happy to help you meet and exceed them.”

To learn more about Andronico and Associates’ services and to start browsing for properties in the region, visit their website at www.AndronicoRealty.com or schedule a consultation with Jacquelin Andronico today.

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For the original version on PRWeb visit: www.prweb.com/releases/prwebSolanoCountyRealEstate/AndronicoandAssociates/prweb9053298.htm

Article source: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/12/20/prweb9053298.DTL

Bay Area could lead the way for jobs recovery — but it won’t happen right away

Wed, 15 Jun 2011 15:41:45 +0000

California won’t recover the jobs it lost during economic meltdown until at least 2014 — but the Bay Area could recapture its losses sooner than that, a report released Wednesday suggested.

Urban centers along the coast such as the Bay Area, Los Angeles, Orange County and San Diego are poised to rebound more rapidly than California overall. The most sluggish pace of recovery is expected for inland areas such as Sacramento, the Central Valley and the Riverside-San Bernardino-Ontario region.

“This is a bifurcated recovery,” said Jerry Nickelsburg, a senior economist with the UCLA Anderson Forecast, which released the report.

A jobs recovery will materialize in regions such as the Bay Area that are being bolstered by the tech rebound, along with exports and imports, the Anderson Forecast economists said.

“Coastal California, particularly the Bay Area with its technology and software industries, will lead in job growth,” according to the forecast.

Areas that depend more strongly on residential construction — such as inland regions of California — will struggle to produce an employment revival, Nickelsburg said.

A region such as the East Bay, however, could experience an uneven pace of recovery.

The East Bay has some high-tech in places such as Fremont, Pleasanton and Livermore. It also a considerable amount of cleantech operations sprinkled through the region. The East Bay also enjoys manufacturing and distribution

operations that are enhanced by the Port of Oakland’s import and export activity.

Housing and financial services, which melted down during the recession, also are a big part of the East Bay economy, however. Those anchors could drag down the pace of the employment rebound in the Alameda County-Contra Costa County region.

“The East Bay is pretty interesting,” Nickelsburg said. “It’s kind of a mix of industries.”

The biggest benefit for the East Bay could be its location near the primary recovery engines that are powered by the digital boom in Silicon Valley, San Francisco and San Mateo County.

“The spillover from high-tech in Silicon Valley will create employment opportunities in the East Bay,” said Jeffrey Michael, director of the Stockton-based Business Forecasting Center at University of the Pacific.

Real estate will remain a problem for job creation in the East Bay, however.

“High tech and exports and imports somewhat offset the housing hangover,” Michael said. “But the East Bay was hit as hard as anyplace else through the recession when it comes to jobs.”

In contrast, things appear more solid in Santa Clara County.

“Silicon Valley is already recovering,” Michael said.

The Anderson Forecast predicted that California will experience “slow growth” through the end of this year.

The forecasters also predicted:

Statewide unemployment, now at less than 12 percent, will continue to fall through the second half of 2011 and average 11.7 percent.

Job growth in 2012 will push the jobless rate down “marginally.”

The unemployment rate won’t reach 9.9 percent until the second quarter of 2013.

Growth in real personal income is forecast to be 1.7 percent in 2011 and 3.3 percent in 2012.

“The bifurcated recovery will be with us for some years to come,” the Anderson Forecast said.

Contact George Avalos at 925-977-8477. Follow him at Twitter.com/george_avalos.

Article source: http://www.mercurynews.com/crime-courts/ci_18272384