In their most recent quarterly statements, all of the largest public home builders reported large annual jumps in the average prices of their homes sold. Pulte’s prices jumped 6 percent to $287000, for Lennar it was a seven percent surge to 261,000 and Meritage led the group with a 17 percent annual jump in average sale prices to $323,000.

(Read More: Soaring Housing Stocks in Perspective)

“New home prices are advancing faster than existing home prices because demand has increased and, as Kim did admit, the mortgage filter is allowing only higher income or at least higher net worth people through the application net, and they are purchasing higher valued homes. But that is true of existing purchases as well,” argues David Crowe, chief economist for the NAHB.

Crowe also makes the argument that new home prices are dictated by costs and demand. Both, he says are rising.

(Read More: New Housing Fears:Home Prices Are Rising Too Fast)

“Lumber and other building material prices have risen very rapidly recently. Shortages of lots and labor supply are beginning to show up, and I expect as new household formations begin to recover, that shortage will expand to more markets. The way to get more resources back into the housing market is to raise the price paid, i.e., wages and land prices,” says Crowe.

Builder profits, he notes, among the small private builders (who still control 70 percent of the market), have been negligible for several years.

“They will have to raise prices to compensate for their efforts, risks and, at least for a short time, being the only ones left,” adds Crowe

(Read More: Is the Refi ‘Apocalypse’ Really Upon Us?)

Article source: http://www.cnbc.com/id/100439451

San Ramon, CA (PRWEB) October 01, 2012

While most real estate markets in the United States remain a buyer’s market, this is untrue for San Francisco bay area. Homes are in high demand and sellers are receiving multiple offers in very short time frames.

When real estate markets are this active, home buyers need to be able to have reliable sources for the most current market conditions. Being first to properties coming on the market can sometimes be a huge advantage for a buyer. Buyers are frustrated when they review listings and become excited about a property only to learn that the information is out-of-date and the home has been sold. Buyers searching for homes in the San Francisco suburb of San Ramon can find current information by visiting Ehomesurf.com. Their data base is updated daily and they also email you when homes within your criteria come on the market.

Mona Koussa, the owner of Ehomesurf.com said, “Home buyers need to act quickly to be able to purchase the home they like the best. Today we are expiring record Low inventory of homes for sale in the San Francisco Bay Area. As of today, there are only 30 single family homes for sale in San Ramon, Ca, while the median sold price is $634,000 which is up 5% from last year. At the same time, we are experiencing multiple offers situation with most listings.”

Since Ehomesurf.com is a member of the Multiple Listing Service (MLS), data is updated within 24 hours of receipt. This insures that interested buyers always have the latest available data concerning. Koussa urges buyers to be prepared to act quickly when seeking to buy in San Ramon.

Says Koussa, “Buyers need to have a “Green File” ready. This file has all your important financial documents including:

• Financial statements
• Bank accounts
• Investments
• Credit card
• Auto loans
• Recent pay stubs
• Tax returns for two years

“Check your credit rating. Your credit score will have a huge impact on what type of home you can buy, and at what price. Anything above 620 is considered good.

“Be Careful With Your Finances. Now is not a good time to make sudden career changes or large purchases. You want to approach home buying from a position of financial stability.”

Buyers who have the best information and are prepared to finance quickly are in the best position to purchase a home in San Ramon. Frequently check Ehomesurf.com for the latest information on San Francisco Bay Area homes for sale.

Ehomesurf.com is owned and operated by Mona Koussa, who is a realtor specializing in the East Bay in Northern California. A seasoned, expert realtor — with over 13 years proven experience in successful transactions and over $270 million in closed sales. In addition to her years of experience in the real estate field Mona Koussa is a: Certified Short Sale Agent, Certified Foreclosure Agent and a Certified Home Retention Consultant.

Prudential California Realty

DRE Liscence: 01260089

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/10/prweb9847308.htm

Article source: http://www.sfgate.com/business/prweb/article/Ehomesurf-com-Releases-New-Figures-that-Show-San-3910476.php