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Top 10 best-selling Bay Area cities with the best schools

Wed, 18 Sep 2013 01:28:55 +0000

#1. This three-bedroom home in Piedmont is offered at $2.75 million. Piedmont has a School Score of 9.5 and a median home price of $1.2 million.

Blanca Torres
Reporter- San Francisco Business Times

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For homebuyers looking for a great public school district, the East Bay is the top area to buy a home in the Bay Area. Emeryville-based ZipRealty, an online brokerage, compiled a list of the top selling cities in the Bay Area with the highest ranking public schools — eight were in the East Bay.

Click on the slideshow to see the top 10 .

“Home values and school scores are always going to be linked,” said ZipRealty President and CEO Lanny Baker. “In order to give our users the most complete picture of a home’s value, we provide a School Score, which is calculated based on test-score data as well as student/teacher ratios, for every home listing on ZipRealty.com.”

The scores range from zero to 10 with 10 being the highest.

The No. 1 city with the highest school score is Piedmont, a small rich enclave completely surrounded by Oakland where the schools scored a 9.5 and the median price dropped 27 percent to $1.2 million in August of 2013 from $1.53 during the same month last year.

The only non-East Bay cities on the list were Palo Alto and Benicia.

Overall, median home prices in the Bay Area rose 36 percent during the past year to $585,000.

Nationwide, the Bay Area real estate market ranked second after Sacramento for having the best public schools. The Bay Area is followed by Las Vegas, Los Angeles and Orlando.

Blanca Torres covers East Bay real estate for the San Francisco Business Times.

Article source: http://www.bizjournals.com/sanfrancisco/blog/2013/09/bay-area-real-estate-top-school-district.html

Silicon Valley Real Estate Update: The Craziest Market In The US Just Got A …

Sun, 23 Jun 2013 13:56:14 +0000

Editor’s note: Glenn Kelman is the CEO of Redfin, a technology-powered real estate broker backed by Madrona Venture Group and Greylock Partners. He previously co-founded Plumtree Software. His last TechCrunch essays were The Maximum, Beautiful Product and Searching for Beasts in Silicon Valley’s War for Talent. Follow him on Twitter @glennkelman.

Well what do you know! After writing on TechCrunch for the past year about how Silicon Valley’s Gatsbyesque wealth couldn’t find much real estate to buy, Bay Area inventory is up. Bidding wars are down. And rising rates are squeezing buyers who have to borrow money. Below is Redfin’s quarterly rundown of what’s happening in Silicon Valley real estate.

Bidding wars are less intense. Bidding wars are still common, with Redfin agents facing competition on 95 percent of all homes in May 2013, the highest of any of the 21 markets Redfin serves. For example, Redfin Silicon Valley agent Brad Le reports that this nice-enough $2 million Cupertino listing got 12 offers, and likely went under contract in June for well above $2.4 million. But fewer bidders are competing. Since Redfin publishes competitive dynamics for every offer our agents write, we measure the average number of competitors in a bidding war, which has declined from a peak of 16.3 in January to 7.8 in May. As agents, we know that demand is waning not because buyers no longer want a home but because they’ve despaired of ever being able to get one. About one in four of our Bay Area homebuyers have told us at some point in the last three months that they’re taking a break from their search out of sheer frustration.

Also-rans are left behind. The decrease in competition hasn’t changed the pricing of the most sought-after properties. But occasionally, close also-rans languish. Redfin Silicon Valley agent Mia Simon noticed that two nearly identical Mountain View homes, one slightly better looking, sold at the same time last week: The beauty queen sold for $200,000 over asking, drawing all the attention away from its neighbor, which got only one offer and sold for $150,000 less than comparable properties in the area.

Flash sales. The fact that homes are still selling very quickly may reflect a fundamental change in consumer behavior rather than simply a hot market; the median days on market for Bay Area homes that sold in May was 12 days; last year at this time it was 18. Mobile instant alerts triggered by the debut of new listings have been behind this trend, with 302 listings in May going under contract in less than 24 hours. Some of our buyers don’t even like to go into a Costco for too long if it will block the cell signal they need to get instant alerts. This has also put pressure on real estate websites to get inventory quickly. On average, brokerage sites like APR.com, ZephyrSF.com, and Redfin.com get new listings days earlier than national portals; the reason is that the brokerage sites employ real estate agents with complete, direct access to the Bay Area’s four local Multiple Listing Services.

More homes for sale. Higher prices, and perhaps the fear that higher interest rates could dampen demand later, have at last drawn would-be sellers into the market. Bay Area inventory began the year down 59 percent from 2012, but has now improved to the point that it’s only 28 percent down from this time last year; by year-end we expect 2013 inventory to be up year-over-year for the first time since 2011. Redfin’s own Bay Area listing business has increased more than 100 percent over last year. In 2013, real estate’s spring may come in summer, and summer may come in fall. Sales volume will increase, and price increases may lose steam.

More new construction coming in the East Bay and in San Francisco: Builders are often slow to respond to inventory crunches, in part because it takes time to finish projects, in part to drive profits from a run-up in demand. This is why we’ve seen line-ups, lotteries and camp-outs among buyers competing to get units as they’re released by builders. But four new projects are releasing units this summer in San Francisco, where the total number of homes has barely budged since World War II: 300 Ivy in Hayes Valley, One Rincon Hill Phase Two near the Bay Bridge, The Icon in the Mission, and Linea-built projects in the Mission like Nove.

More inside jobs: We hear more reports of pocket listings, where the listing agent sells the home to one of his own clients or to one of his partner’s clients, without offering the property to the broader market. The actual data suggests that this is common only for homes priced above $5 million. Few sellers at lower prices would ever bypass the larger market, which can draw in enough buyers to spark a bidding war. But there are other types of inside jobs. “Some Redfin clients are trying to get creative,” reports Landon Nash, Redfin San Francisco agent. “I just closed one deal with a client who asked his landlord to sell, and I have another two — which may or may not close — in the works.”

Interest-rate anxiety: With interest rates increasing since May 1, and sharply since May 22, Bay Area homebuyers have felt more pressure to buy a home soon. On June 4, interest rates exceeded 4 percent for the first time in a year. “You know how analytical we can be in the Bay Area,” said Redfin agent Brad Le. “Some of my clients know down to the dollar how much more their mortgage is per month with the current rates, and others already stretching to afford a home have been priced out by the rate increase. The buyers who remain are even more motivated to find something.”

Buyers are withdrawing money from retirement accounts to compete with more cash in bidding wars. In the past week, three different Bay Area buyers did this, despite the penalties associated with withdrawals from 401(k) accounts. Bay Area sellers continue to have a strong preference for cash buyers, to avoid a second price negotiation if an appraisal comes in low from the buyer’s lender. Buyers are also getting help from their parents. Just last month, Redfin clients living in a one-bedroom San Francisco apartment with two small children needed extra dough to avoid being priced out of the Oakland Hills market, so the parents — who were already tired of staying in hotels during visits from the East Coast — just became a party to the purchase. Virtually every Redfin agent in the Bay Area has a story about this.

Surprisingly, fewer for-sale-by-owner listings: Of the Bay Area sales closed in May, 89 percent had been listed by an agent. By comparison, 85 percent of May 2012 sales were agent-listed. Usually, when the market makes it easier to sell a home, more sellers try to do it themselves. But the Bay Area is in such a frenzy that people here are hiring an agent in even greater numbers to play the game to perfection, and to get top dollar. Of course, as real estate agents ourselves, Redfin benefits from a decline in for-sale-by-owner sales. Nonetheless, Redfin’s website is the only one I know of that shows both all the agent-listed homes for sale as well as for-sale-by-owner listings.

A decline in commissions offered to buyers’ agents, from 2.65 percent for Bay Area listings that debuted in May 2012, to 2.56 percent in May 2013. Sellers have been emboldened by the market to offer the buyer’s agent less, with no fear of steering.

A still-exclusive club: Booms usually bring an increase in the number of agents. Not in the Bay Area. In May 2012, 6,008 Bay Area agents represented homebuyers on 9,456 transactions. By May 2013, 5,540 Bay Area agents represented buyers on 8,295 transactions. Because the market here has been inventory-gated, 2013 sales actually declined 12.3 percent, whereas the number of active agents declined 7.8 percent.

What does it all mean? The Bay Area real estate market is getting back to its own version of normal, which still isn’t that normal at all.

REDFIN

Redfin is an online real estate company that provides real estate search and brokerage services. Redfin uses an interesting combination of online real estate search and access to live agents. They employ their agents so they can better control customer satisfaction; traditional brokerage firms license their name to independent agents. Redfin claims to save homebuyers on average $7,500 by reimbursing roughly 1/2 of the buy-side real estate fee directly on closing. Redfin also pays bonuses to agents when they…

? Learn more

Article source: http://techcrunch.com/2013/06/15/silicon-valley-real-estate-update-the-craziest-market-in-the-u-s-just-got-a-little-less-crazy/

Top cities to buy bargain fixer-uppers don’t include San Francisco

Mon, 10 Jun 2013 19:09:48 +0000

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San Francisco doesn’t offer the best area for people hoping to buy bargain fixer-upper homes, probably because even fixers sell for a fortune in the Bay Area, and not many properties end up foreclosed or otherwise abandoned to decay much anyway, given the value of property in general. So, even among our few homes for sale needing “TLC,” we don’t find many “bargains.” The properties above show that.

Among the currently MLS listed homes for sale in San Francisco proper, only 16 came up under a parameter search for “fixer-upper,” and zero came up when the term “foreclosure” was also added. RealtyTrac maps SF’s pre-foreclosures (we’ve got 180 shown in purple below), bank owned (we have 185 marked in gold below), and for auction properties (we’ve got 41, marked in red below). This section of the map shows you a portion of the RealtyTrac heat map.

A portion of RealtyTrac’s heat map for distressed property in SF.

Slim pickings, really, in a city with a lot more potential homebuyers than potential homes for sale. The city’s inventory in May was down 24.5% year-over-year.

Best cities for fixer-upper bargains

RealtyTrac, prolific provider of U.S. real estate data with a particular focus on foreclosure-related activity, analyzed national data to find the 15 best markets for buying fixers at discount prices. The figures show the number of foreclosed homes old enough to potentially be candidates for makeovers that are also valued at $100K or less– a sure sign, in more robust markets– of a bargain. Also analyzed here: the average market value of a distressed home as well as the change in the median sales price of such properties in each location year-over-year.

“Low-priced homes are still plentiful in many markets, particularly in the form of foreclosures,” said Daren Blomquist, RealtyTrac vice president. “While these homes may be in need of more work than a typical home and are certainly harder to find now than in previous years, buyers and investors willing to put in a little extra legwork and sweat equity can often find the best deals in their markets on these foreclosure fixer-uppers.”

RealtyTrac analysis found that nationwide , there are more than 51,000 potential foreclosure fixer-uppers: bank-owned homes that were built before 1960 with an estimated market value below $100K.

Meanwhile, back in SF

As usually happens when we compare other parts of the country to San Francisco, our home prices stand out in sharp relief. For less than you’d need for a downpayment on a fixer here, you could buy an entire home outright somewhere else. So if your reason for wanting a fixer-upper is bargain price (though of course, “bargain” is a relative term), you might want to look elsewhere.

Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest, and writes for SFGate and CurbedSF. Follow Anna on Twitter: @AnnaMarieErwert

Article source: http://blog.sfgate.com/ontheblock/2013/06/10/top-cities-to-buy-bargain-fixer-uppers-dont-include-san-francisco/

Why Housing Affordability Is at Risk

Thu, 11 Apr 2013 09:12:04 +0000

The average rate on the 30-year fixed mortgage dropped to 3.68 percent last week, according to the Mortgage Bankers Association. From 1985 through 1999, rates ranged from 6 to 13 percent. Present low rates have allowed buyers to purchase more expensive homes, and the mortgage payment is taking less out of their monthly paychecks.

(Read More: Housing’s Big Challenge: Student Debt)

Back in the mid-eighties and nineties, Americans spent nearly 20 percent of their median monthly incomes on their home loans—compared to just 12.5 percent today, according to Zillow.

The trouble is that wages have either stagnated or dropped at the same time that home values are rising. Pre-bubble, U.S. homebuyers spent 2.6 times their median annual incomes on the purchase price of a typical home, but now they are spending three times their incomes—meaning homes are 14.5 percent more expensive relative to income, according to Zillow. That is all made possible by government-subsidized, record low rates.

(Read More: Betting on the Home Builders as Housing Battles Back)

“The days of historically high levels of housing affordability are numbered,” said Zillow Chief Economist Stan Humphries. “Current affordability is almost entirely dependent on low interest rates, and there’s no doubt that rates will begin to rise in the next few years.”

Rates will rise because the Federal Reserve will inevitably have to get out of the business of buying agency mortgage-backed securities, which currently drives down rates. This won’t happen immediately, but it will in the next two to three years.

Article source: http://www.cnbc.com/id/100631625

Wine Country Modern Real Estate Joins Established San Francisco Bay Area …

Fri, 22 Mar 2013 17:55:44 +0000

Wine Country Modern joins the Marin Modern Real Estate Family.

I’m excited to introduce our newest effort in filling the needs of our residential real estate clients in the North Bay.

San Rafael, CA (PRWEB) March 14, 2013

Marin Modern Real Estate, a premier brokerage in the San Francisco Bay Area, is pleased to announce the launch of its newest affiliate, Wine Country Modern Real Estate.

Launched on March 14, 2013, Wine Country Modern Real Estate is the newest member of the Marin Modern Real Estate family. As a full service residential real estate brokerage specializing in modern and architectural properties, Wine Country Modern fills a need for Modern homebuyers and sellers in Napa and Sonoma County and is pleased to introduce their new website: http://www.winecountrymodern.com

Established by Renee Adelmann, founder of Marin Modern, San Francisco Modern, and East Bay Modern Real Estate; Wine Country Modern Real Estate expands the company’s ability to best serve the needs of today’s modern real estate market. With a focus on modern architecture, Wine Country Modern has the resources to fill the needs of both buyers and sellers of all residential properties throughout Napa and Sonoma County.

Asked about the launch of Marin Modern’s newest family member, Renee Adelmann commented, “I’m excited to introduce our newest effort in filling the needs of our clients in the North Bay. I am often asked about the availability of properties and homes for sale in the wine country, and expanding our company into Napa and Sonoma Counties seemed like a logical step – and one that will bring value to our clients.”

Wine Country Modern’s website includes in-depth information about towns in Napa and Sonoma County, guidance specifically geared towards buyers and sellers, information on modern homes and hobby vineyards, and a list of scheduled open houses in the Napa/Sonoma wine country – as well as details about all homes and residential properties for sale in Sonoma and Napa County.

To learn more about our expanding family of real estate companies visit us online at Wine Country Modern Real Estate, Marin Modern Real Estate, San Francisco Modern Real Estate, and East Bay Modern Real Estate.

About Wine Country Modern Real Estate

Wine Country Modern Real Estate is a full service, technologically enabled brokerage offering state-of-the-art service to buyers and sellers of residential real estate throughout Napa and Sonoma Counties.

Contact the Wine Country Modern Team for assistance with the purchase or sale of real estate in Sonoma and Napa Counties.

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Article source: http://www.prweb.com/releases/2013/3/prweb10530458.htm

SF, top city for DINK couples, rich in DINK-worthy real estate | On The Block …

Mon, 17 Dec 2012 17:40:51 +0000

Where are the DINK couples most populous, and powerful? According to DINK Life, San Francisco is the best place for dual income, no kids couples, aka DINKs. Here are the top 3 cities we share honors with.

Unless you’ve had your head in the sand, you know DINKs flock to San Francisco, a city famed for having more dog-raising families than kid-raising ones. So perfect is this fair city that DINK Life headquarters in San Francisco (they’re even writing a book about the DINK lifestyle).

DINK Money and Real Estate

DINKs are so powerful a demographic they got their own acronym sometime in the 1980s; along with that acronym came a flood of targeted marketing and spending-habit studies. No surprise that with a much freer expendable income than their child-rearing brethren, these American adults spend money differently. That includes how they spend it on real estate.

San Francisco DINKs and Dogs

Here in San Francisco where inventory is tight, we have to expect some overlap between parent homebuyers and DINK homebuyers, especially dog owners. Both groups, as homebuyers, will want yards.

But families with children are fast leaving the city, per the Huffington Post: “According to statistics presented to a special hearing of the Board of Supervisors on Thursday, San Francisco has the lowest percentage of children of any major city in the country. Only 13.4 percent of the city’s approximately 800,000 residents are under the age of 18.”

That leaves the yards wide open for DINK buyers, who might compete for something like this, a 3 bedroom, 2 bath condo on California Street. Note the smallish kitchen, sexy bath, and shared yard– all very DINK- listed at $995K.

DINK Demands

Today’s DINK buyers want to be able to walk to as many essential services as possible. Alex Clark, a Realtor® in San Francisco confirms: “DINKs are definitely different than San Francisco families with kids looking to purchase. Walkability is important, as is access to recreation. Big on the list is close access to restaurants, and low on the list are designer kitchens…as they tend to cook less. Parking is less and less of a priority, hence the importance of walkability or the increasingly more popular “bike-ability.”

This demand has real force on the industry. The George Washington University School of Business reports that walkable neighborhoods have now exceeded suburban ones in terms of demand. Their study found that for each 6% improvement in a neighborhood’s walkability score, rent prices for office and retail space increase 7%, apartment rents increase 6%, and home sale prices go up $133/ft2. So in a sense, DINKs demanding close-in property help keep the price of said property in this city as expensive as it is—and getting more so.

For example, take this tenancy in common. Formerly thought to be a troublesome type of property to sell or buy (due to fractional financing, which this unit requires), this Castro/Duboce area TIC lists at $899K.

Message to Developers

With no kids and need for less space overall and a strong desire for walk-(or bike)-ability to both work and daily essential services and amenities, DINKs have potential to influence future housing construction. Their priorities—and buying power—encourage small scale homes, closely centered near an already established retail/business area. This preference for a more close-in, clustered style of living has already made its stamp on American real estate. As pointed out in DINK Life’s recent article “DINKs Quickly Becoming the Power Couples of Real Estate,” the performance of suburban property in this country during the recent recession shows that “as U.S. home values declined from 2008- 2011, areas located far from urban hubs have lost value most dramatically. Areas close-in, however, have either held their value or increased it.”

Confirming this information, The Brookings Institute, in an economic analysis of “walkable” neighborhoods, explains: “This distinction in housing proximity is particularly important since it appears that the United States may be at the beginning of a structural real estate market shift….. a preference for mixed-use, compact, amenity-rich, transit-accessible neighborhoods or walkable places.”

With plenty of all of the above, no wonder San Francisco made the #1 best city for DINKs. Can’t you just see them in this Valencia St. condo, strolling to the bars and restaurants, partying on the roof deck, and generally enjoying child-free fun in the Mission?

The city is rife with DINK-worthy real estate- that we all must agree. All that’s left to debate is what’s the best neighborhood in which to live the DINK lifestyle. So we leave that to DINK readers to decide– the comment section awaits.

Article source: http://blog.sfgate.com/ontheblock/2012/12/06/sf-top-city-for-dink-couples-rich-in-dink-worthy-real-estate/

Housing’s Recovery Means Fewer Can Afford Homes

Wed, 12 Dec 2012 11:14:05 +0000

Rising home prices are not the only factors hitting home affordability. Fees charged to lenders by Fannie Mae and Freddie Mac (known as “guarantee fees” for bundling and selling mortgages) began rising dramatically in the past month and are now at a high of 46 basis points, according to Capital Economics. These fees are passed on to borrowers in higher interest rates. This is one of the reasons why rates, still at historic lows, are not as low as the Federal Reserve had hoped when it announced another round of purchases of agency mortgage-backed securities.

(Read More: Housing Recovery Is Leaving Behind First-Time Buyers)

Congress raised guarantee fees in 2011 to pay for a payroll tax cut. There is yet another plan to raise fees further to fund immigration reform, although the bill is widely expected to fail.

“Dipping back into the housing piggybank to pay for unrelated policy items on the backs of America’s homebuyers ends the wrong message at a time when the housing market is starting to show signs of recovery,” wrote David Stevens, President and CEO of the Mortgage Bankers Association in a statement last month.

(Read More: Big Money Is Making Big Bets on a Housing Rebound )

Raising guarantee fees is another way for government to wind down the two mortgage giants it still backs, Fannie Mae and Freddie Mac, but that comes at a cost to borrowers who are already hampered by stricter underwriting standards.

“G-fees will continue to increase as a way to run down the GSEs’ role in the mortgage market,” writes Paul Diggle of Capital Economics. “Stronger mortgage demand suggests that would-be buyers are growing in confidence. Nevertheless, mortgage lending will continue to be held back by tight credit.”

(Read More: Home Builders Beg for Skilled Workers)

Article source: http://www.cnbc.com/id/100301299

SF, top city for DINK couples, rich in DINK-worthy real estate

Fri, 07 Dec 2012 04:38:29 +0000

DINK Money and Real Estate

San Francisco DINKs and Dogs

Here in San Francisco where inventory is tight, we have to expect some overlap between parent homebuyers and DINK homebuyers, especially dog owners. Both groups, as homebuyers, will want yards.

DINK Demands

Message to Developers

Article source: http://blog.sfgate.com/ontheblock/2012/12/06/sf-top-city-for-dink-couples-rich-in-dink-worthy-real-estate/

Bay Area Real Estate Information Services Announces Direct Syndication to Trulia

Fri, 11 May 2012 20:38:33 +0000

SAN FRANCISCO, CA–(Marketwire – May 10, 2012) – Trulia, a leading site for home buyers, sellers, renters and real estate professionals, today announced a strategic alliance with Bay Area Real Estate Information Services, Inc. (BAREIS MLS®) to directly syndicate the listings of its 8,000 members to Trulia, providing consumers with the most accurate information on homes for sale in five Northern San Francisco Bay Area counties including Marin, Mendocino, Napa, Sonoma and Solano.

With the addition of BAREIS MLS®, the majority of the MLSs in the Bay Area are now working with Trulia. Trulia already receives direct feeds from MLSListings, Bay East and Contra Costa MLS, meaning Bay Area homebuyers can have an extremely high degree of confidence that the data they see on Trulia is correct. As part of its alliance with Trulia, BAREIS will also participate in the Trulia Direct Reference program, under which Trulia notifies listing agents and brokers about any discrepancies between the data provided by the MLS and information from other syndicators.

Listings from BAREIS MLS® will now be seen by the more than 23 million* serious home-buyers and sellers coming to Trulia each month to get the inside scoop on real estate they can’t find anywhere else. BAREIS MLS® will syndicate all of its listings unless the listing is not approved for the internet.

“Our membership is dedicated to providing the most accurate data on the internet to buyers and sellers working with the real estate professionals in our region,” said Jim Branscombe, President and CEO of BAREIS MLS®. ”There is an explosion of data and a great deal of that information is not accurate or kept up to date. Building strategic alliances with major real estate portals like Trulia will ensure the best data is available to the public and support the efforts of our real estate professionals to list and sell property. BAREIS MLS® has operated its own public site for 14 years, and this relationship we are forging with Trulia is similar to the relationships we have with other public internet sites we have worked with in that we are providing all active listing data approved for internet display.”

As part of the agreement, Trulia will abide by the guidelines established by the Trulia Data Pledge for listing syndication that launched in January 2012.

“By syndicating listings for its members, BAREIS MLS® will ensure that it provides an extremely high level of data accuracy. This will help its members connect with more buyers and sellers to close more transactions,” said Mark Weiss, Trulia Director of Business Development. “BAREIS MLS® understands that connecting Trulia’s audience with the most up to date and accurate information provides its real estate professionals with the best opportunity to close deals.”

*Omniture, April 2012

About Trulia Inc.
Trulia gives home buyers, sellers, owners and renters the inside scoop on properties, places and real estate professionals. Trulia has unique info on the areas people want to live that can’t be found anywhere else: users can learn about agents, neighborhoods, schools, crime and even ask the local community questions. Real estate professionals use Trulia to connect with millions of transaction-ready buyers and sellers each month via our hyper local advertising services, social recommendations and top-rated mobile apps. Trulia is headquartered in downtown San Francisco and is backed by Accel Partners and Sequoia Capital. Trulia and the Trulia logo are registered trademarks of Trulia, Inc.

About Bay Area Real Estate Information Services, Inc. (BAREIS MLS®)
Bay Area Real Estate Information Services, Inc. is an independent MLS created on October 22, 1997. The organizations that founded BAREIS MLS® are the Marin Association of REALTORS®, Napa Association of REALTORS®, Northern Solano Association of REALTORS®, Solano Association of REALTORS® and the Sonoma County Multiple Listing Service. The Mendocino County MLS joined the effort in 2001 and the Coastal Co-op MLS in 2005. BAREIS MLS® now serves approximately 8,000 members in five key counties: Marin, Mendocino, Napa, Solano, and Sonoma.

Article source: http://www.constructiondigital.com/press_releases/residential-real-estate/bay-area-real-estate-information-services-announces-direct-syndication-to-trulia

Bay Area Real Estate Information Services Announces Direct Syndication to Trulia

Fri, 11 May 2012 02:26:43 +0000

SAN FRANCISCO, CA, May 10, 2012 (MARKETWIRE via COMTEX) –
Trulia, a leading site for home buyers, sellers, renters and real
estate professionals, today announced a strategic alliance with Bay
Area Real Estate Information Services, Inc. (BAREIS MLS(R)) to
directly syndicate the listings of its 8,000 members to Trulia,
providing consumers with the most accurate information on homes for
sale in five Northern San Francisco Bay Area counties including
Marin, Mendocino, Napa, Sonoma and Solano.

With the addition of BAREIS MLS(R), the majority of the MLSs in the
Bay Area are now working with Trulia. Trulia already receives direct
feeds from MLSListings, Bay East and Contra Costa MLS, meaning Bay
Area homebuyers can have an extremely high degree of confidence that
the data they see on Trulia is correct. As part of its alliance with
Trulia, BAREIS will also participate in the Trulia Direct Reference
program, under which Trulia notifies listing agents and brokers about
any discrepancies between the data provided by the MLS and
information from other syndicators.

Listings from BAREIS MLS(R) will now be seen by the more than 23
million* serious home-buyers and sellers coming to Trulia each month
to get the inside scoop on real estate they can’t find anywhere else.
BAREIS MLS(R) will syndicate all of its listings unless the listing
is not approved for the internet.

“Our membership is dedicated to providing the most accurate data on
the internet to buyers and sellers working with the real estate
professionals in our region,” said Jim Branscombe, President and CEO
of BAREIS MLS(R). “There is an explosion of data and a great deal of
that information is not accurate or kept up to date. Building
strategic alliances with major real estate portals like Trulia will
ensure the best data is available to the public and support the
efforts of our real estate professionals to list and sell property.
BAREIS MLS(R) has operated its own public site for 14 years, and this
relationship we are forging with Trulia is similar to the
relationships we have with other public internet sites we have worked
with in that we are providing all active listing data approved for
internet display.”

As part of the agreement, Trulia will abide by the guidelines
established by the Trulia Data Pledge for listing syndication that
launched in January 2012.

“By syndicating listings for its members, BAREIS MLS(R) will ensure
that it provides an extremely high level of data accuracy. This will
help its members connect with more buyers and sellers to close more
transactions,” said Mark Weiss, Trulia Director of Business
Development. “BAREIS MLS(R) understands that connecting Trulia’s
audience with the most up to date and accurate information provides
its real estate professionals with the best opportunity to close
deals.”

*Omniture, April 2012

About Trulia Inc.
Trulia gives home buyers, sellers, owners and
renters the inside scoop on properties, places and real estate
professionals. Trulia has unique info on the areas people want to
live that can’t be found anywhere else: users can learn about agents,
neighborhoods, schools, crime and even ask the local community
questions. Real estate professionals use Trulia to connect with
millions of transaction-ready buyers and sellers each month via our
hyper local advertising services, social recommendations and
top-rated mobile apps. Trulia is headquartered in downtown San
Francisco and is backed by Accel Partners and Sequoia Capital. Trulia
and the Trulia logo are registered trademarks of Trulia, Inc.

About Bay Area Real Estate Information Services, Inc. (BAREIS
MLS(R))
Bay Area Real Estate Information Services, Inc. is an
independent MLS created on October 22, 1997. The organizations that
founded BAREIS MLS(R) are the Marin Association of REALTORS(R), Napa
Association of REALTORS(R), Northern Solano Association of
REALTORS(R), Solano Association of REALTORS(R) and the Sonoma County
Multiple Listing Service. The Mendocino County MLS joined the effort
in 2001 and the Coastal Co-op MLS in 2005. BAREIS MLS(R) now serves
approximately 8,000 members in five key counties: Marin, Mendocino,
Napa, Solano, and Sonoma.


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        Ken Shuman
        Email Contact
        415.517.7211

SOURCE: Trulia


http://www2.marketwire.com/mw/emailprcntct?id=E9D6883F31A2D72A

Article source: http://www.marketwatch.com/story/bay-area-real-estate-information-services-announces-direct-syndication-to-trulia-2012-05-10