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LOS ANGELES, Nov. 9, 2012 /PRNewswire-iReach/ — Sports fans in San Francisco couldn’t be happier, as their baseball team just won their second World Series in a three year time span. But Giants’ fans aren’t the only people who should be happy in the Bay Area. According to recent statistics, property owners in San Francisco also have something to smile about! Eight times each year, the Federal Reserve publishes the “Summary of Commentary on Current Economic Conditions”, better known as the “Beige Book”, which gives an economic snapshot of all 12 Federal Reserve districts — including San Francisco. The “Beige Book” came out in mid-October, and it indicates that the residential real estate market in the metropolitan San Francisco area is recovering much quicker than in other cities across the country. For example, the median sales price for a home in the Bay Area continues to rise, and in September, it hit its highest level in more than four years. In September 2012, the median price in the nine-county area climbed to $429,000. That’s a 17.5% increase from September 2011, when the median was $365,000.

Job growth and low interest rates are also bringing more buyers into the area. The unemployment rate around San Francisco has fallen to 7.4% — down from a high of 10.1% in January 2010. With more buyers eager to purchase a home now so they can take advantage of the all-time low interest rates that are available, there is a shortage of homes for sale in the Bay Area. While that’s bad news for buyers, it’s good news for sellers. After all, with fewer homes available on the market, sellers can raise their listing prices. And speaking of fewer homes on the market, San Francisco also is leading the way in foreclosure reduction. Last week, it was announced that foreclosure filings in the San Francisco area fell 36% when compared to the same time period last year. A big part of that comes from investors who are purchasing foreclosure properties and fixing them up to rent, instead of reselling them once the needed repairs have been made. But residential properties in San Francisco aren’t the only hot commodities in town. Commercial real estate is also seeing a boom in the Bay Area. Kilroy Realty Corporation is building two new skyscrapers in town, and their CEO says they already have interested clients wanting to lease space in the buildings. The first, a 400,000 square foot, 27-story project, will break ground in the first quarter of next year, and construction of the second building should get underway in late 2013. In an interview with San Francisco Business Times, the company’s CEO, John Kilroy said, “I can tell you I do not believe in the trees growing to the sky. But I have never seen so much visible demand from such a diverse group of people as I have seen in San Francisco and the Bay Area right now.” With so many interested clients, but limited commercial space, the demand outweighs the inventory at this time, so economists speculate that Kilroy won’t be the only company building commercial properties in San Francisco in the months and years to come. What does all this mean? If you’re looking for a home in San Francisco, expect to pay more. If you own a business that is looking to move to the Bay Area, or relocate within it, also expect to pay a pretty penny. And finally, if you’re a seller — of either a residential or commercial piece of real estate — you may be able to cash in on the high demand in the area and make more money than you initially hoped or planned when selling your property.
http://www.RealtyPin.com

Media Contact: Daniel Torelli RealtyPin.com, 514-836-1432, daniel@realtypin.com

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SOURCE RealtyPin

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Article source: http://www.prnewswire.com/news-releases/san-franciscos-real-estate-market-making-experts-jump-for-joy-178153711.html

Job growth and low interest rates are also bringing more buyers into the area. The unemployment rate around San Francisco has fallen to 7.4% — down from a high of 10.1% in January 2010. With more buyers eager to purchase a home now so they can take advantage of the all-time low interest rates that are available, there is a shortage of homes for sale in the Bay Area. While that’s bad news for buyers, it’s good news for sellers. After all, with fewer homes available on the market, sellers can raise their listing prices. And speaking of fewer homes on the market, San Francisco also is leading the way in foreclosure reduction. Last week, it was announced that foreclosure filings in the San Francisco area fell 36% when compared to the same time period last year. A big part of that comes from investors who are purchasing foreclosure properties and fixing them up to rent, instead of reselling them once the needed repairs have been made. But residential properties in San Francisco aren’t the only hot commodities in town. Commercial real estate is also seeing a boom in the Bay Area. Kilroy Realty Corporation is building two new skyscrapers in town, and their CEO says they already have interested clients wanting to lease space in the buildings. The first, a 400,000 square foot, 27-story project, will break ground in the first quarter of next year, and construction of the second building should get underway in late 2013. In an interview with San Francisco Business Times, the company’s CEO, John Kilroy said, “I can tell you I do not believe in the trees growing to the sky. But I have never seen so much visible demand from such a diverse group of people as I have seen in San Francisco and the Bay Area right now.” With so many interested clients, but limited commercial space, the demand outweighs the inventory at this time, so economists speculate that Kilroy won’t be the only company building commercial properties in San Francisco in the months and years to come. What does all this mean? If you’re looking for a home in San Francisco, expect to pay more. If you own a business that is looking to move to the Bay Area, or relocate within it, also expect to pay a pretty penny. And finally, if you’re a seller — of either a residential or commercial piece of real estate — you may be able to cash in on the high demand in the area and make more money than you initially hoped or planned when selling your property. http://www.RealtyPin.com

Media Contact: Daniel Torelli RealtyPin.com, 514-836-1432, daniel@realtypin.com

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE RealtyPin

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Article source: http://www.sacbee.com/2012/11/09/4974033/san-franciscos-real-estate-market.html

WALNUT CREEK, CA, Jan 30, 2012 (MARKETWIRE via COMTEX) –
The San Francisco Bay Area Agency, a local office of the MassMutual
Financial Group, today announced that Tony Delumen, 34, and an
eighth-year agent, has qualified for the prestigious MassMutual
Chairman’s Club for 2012, an honor bestowed to the top 10 career
agents annually, from among 5300 agents around the US.

The Chairman’s Club recipients are the top 10 annual producers of the
entire MassMutual pool of more than 5300 agents and are considered
the pinnacle of MassMutual’s sales force. The honor recognizes the
individuals who have achieved the highest levels of all-around sales
and performance during the previous year.

“This is an incredible distinction for Tony, who has been an
outstanding member of our team since he joined the Agency,” said
Robert Fakhimi, General Agent of the San Francisco Bay Area Insurance
Agency. “He is continually attaining the highest levels of
achievement in the company by delivering extraordinary service to his
clients. This latest honor is a testament to Tony’s diligence, hard
work and supreme skills in the field.”

Other achievements by Delumen include both the title of 2009 Top
Premium Producer and Top Annuity Producer over the more than 5000
MassMutual career agents in the company’s 84 national offices. He
also earned the prestigious Freshman 5 award for his performance
during his first year as an agent, given to only five MassMutual
first-year agents nationally each year. Plus he was named Agent of
the Year four years in a row in the local office.

Delumen’s latest award continues the top achievements of the overall
SF Bay Area Insurance Agency. In the last seven years, this firm,
with Fakhimi as general agent, has developed six Freshman 5 award
honorees. In addition, the Agency has been honored with the
MassMutual Chairman’s Trophy for performance eight times in the last
nine years. The award is a reflection of an agency’s accomplishments
in revenue growth, recruitment and productivity.

About the San Francisco Bay Area Insurance Agency Inc.
With roots
going back to 1891, the San Francisco Bay Area Insurance Agency Inc.
is a significant contributor to the local economy, as shown by the
following figures about the San Francisco Bay Area Insurance Agency
and its detached offices (as of December 31, 2010):

        --  More than 36,000 policyholders and clients(1)
        --  Managing over $863 Million in assets (including assets and certain
            external investment funds managed by MassMutual and its subsidiaries)
        --  More than $4.7 billion in life insurance face amount in force(2)
        --  Will return more than $8.3 million in dividends to its participating
            policyholders in 2010(3)

Robert Fakhimi is CEO and Managing Partner of the San Francisco Bay
Area Insurance Agency Inc. Recently named as one of the Bay Area’s
Best Places to Work, the agency is headquartered in Walnut Creek with
branch offices in San Francisco, Fremont and Milpitas. Mr. Fakhimi
can be reached at 888-803-3631, ext. 320 or by e-mailing him at
rfakhimi@financialguide.com. Securities and investment advisory
services offered through qualified registered representatives of MML
Investors Services LLC, member SIPC, Inc. 2121 N. California Blvd.
Suite 395 Walnut Creek, CA 94596 (925) 979-2300.

About MassMutual

Founded in 1851, MassMutual is a leading mutual life insurance
company that is run for the benefit of its members and participating
policyholders. The company has a long history of financial strength
and strong performance, and although dividends are not guaranteed,
MassMutual has paid dividends to eligible participating policyholders
every year since the 1860s. With whole life insurance as its
foundation, MassMutual provides products to help meet the financial
needs of clients, such as life insurance, disability income
insurance, long term care insurance, retirement/401(k) plan services,
and annuities. In addition, the company’s strong and growing network
of financial professionals helps clients make good financial
decisions for the long-term.

MassMutual Financial Group is a marketing name for Massachusetts
Mutual Life Insurance Company (MassMutual) and its affiliated
companies and sales representatives. MassMutual is headquartered in
Springfield, Massachusetts and its major affiliates include: Babson
Capital Management LLC; Baring Asset Management Limited; Cornerstone
Real Estate Advisers LLC; The First Mercantile Trust Company;
MassMutual International LLC; MML Investors Services, LLC., member
FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust
Company, FSB.

For more information, visit massmutual.com.

(1) An insured, owner, or payer of a MassMutual policy or contract.

(2) Amount of individual life insurance in force at the end of the
period related to products issued by Massachusetts Mutual Life
Insurance Company and its subsidiaries, C.M. Life Insurance Company
and MML Baystate Life Insurance Company.
(3) The amount of
dividends to whole life policyholders in 2010.

        Contact:
        Erica Zeidenberg
        925-631-0553

SOURCE: SF Bay Area Insurance Agency

Copyright 2012 Marketwire, Inc., All rights reserved.

Article source: http://www.marketwatch.com/story/san-francisco-bay-area-insurance-agency-advisor-attains-national-massmutual-honor-awarded-to-only-ten-agents-annually-2012-01-30