ResourceMonthly Calendar • Message from SAMCAR • Market Update

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July2011

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8:30 a.m. Combined Meeting(229 w. 20th ave., san mateo)

all day SAMCAR office Closed for U.S. Independence day

9 a.m. ReBarCamp SF(roe nightclub, 651 howard st., sf)rebcsf2011-estw.eventbrite.com

register for most classes and events

by calling samcar at (650) 696-8200

find the full class schedule online at

www.samcar.org/Education

unless otherwise noted location is samcar 850 woodside way, san mateo

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R Keep YouR Mid-YeaR engines Revving With upcoMing events and education this suMMeR! Upcoming Social EvEntS | www.samcar.org/events

Join us for the Annual samcar Membership bbq on August 11 from 3 to 5 p.m. at the main picnic area in San Mateo Central Park. Let us treat you to tasty summer fare, which your Board of Directors will prepare for you! Complimentary food, fun and games are samcar’s way of letting you know how much we appreciate your membership.

Mangia Time! The samcar Annual Charity Spaghetti Feed Auction and dance is being held on September 15 from 5 to 10 p.m. at the Peninsula Italian American Social Club, 100 North B Street in San Mateo. Support your samcar Foundation with an evening full of fun including fabulous raffle prizes, silent and live auction and authentic Italian pasta. For tickets and sponsorship information please visit www.samcar.org/events.

affiliatE 11 for ’11: mortgagE UpdatE panEl You all know that the mortgage industry is having a tremendous effect on real estate transactions today and in many cases, the appraisal process, as well. The Affiliate committee is developing a “San Mateo County Mortgage update” panel. They will discuss a variety of topics including the pending drop in jumbo loan limits, the appraisal process, an update on short sales and foreclosures in the county, and more. Check the samcar Education page at www.samcar.org/education for the date.

frEE Social mEdia EdUcation Come to the Third Annual REBarCamp SFwhen: July 25 / 9 a.m. to 4:30 p.m.where: roe nightclub (651 Howard St., San Francisco)sign up: http://rebcsf2011-estw.eventbrite.com Social media trainers from all over the country will be facilitating discussions on trends in real estate web marketing, mobile, search, social and more.

SUpra KEy ExchangEThank you to each and every member who helped make the Lock Box Exchange program run smoothly. We know that a mass update can have its challenges, but with the help of the Supra staff, it went very well. We also want to thank the samcar staff that assisted our members with their phone calls, inquiries and concerns prior to the exchange.

for inquiries regarding these announcements

samcar@samcar.org or (650) 696-8200

hUd homES have seen a 1000% increase over prior years recently. More hud homes will be released to the market, but hud homes are only available for hud Registered Broker’s agents to market subject to certain guideline limitations. This class walks you through the process, so you can qualify to sell hud homes.

instructor Gina Tse, Local Listing Broker for HUD/Pemco

to register, call Samcar at(650) 696-8200

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9:30 a.m. Peninsula Legislative Committee Meeting

11 a.m. yPn educational Meeting

9:30 a.m. Coastside Legislative Committee Meeting (248 main st. #200, half moon bay)

9:30 a.m. Pacifica Legislative Committee Meeting (450 dondee way, suite 7, pacifica)

10 a.m. Successfully Sellinghud homes (Affiliates 11 for ‘11)

11:30 a.m. Special eventsCommittee Meeting

8 a.m. GRI 100/101: Agency Rela-tionships, duties & disclosures /ethics, Professional Conduct,& Legal Aspects ($149)www.eDesignations.com

10 a.m. Cultural diversity –equal opportunity Committee

JULY

11 a.m. Lunch & Learn: hands-on Microsoft Publisher

10 a.m. MLS: essentials of Matrix

1 p.m. MLS: Mastering Matrix

10 a.m. PRdSForms.com online

2 p.m. new PRdS Contract Training

11 a.m. Facebook for the Real estate Professional ($20)

11 a.m. holiday Tour deadline

10 a.m. RPA CA from A to Z

JULy 2011

learn more about upcoming events at

www.samcar.org/Events

view the full calendar online at

www.samcar.org/Calendar

for advertising reservation and pricing information,please contact dalen gilbrech dalen@samcar.org

Monthly Calendar | ju

ly 2011

Join us at themain picnic areaSan MateoCentral Park

ThursdayAugust 113 to 5 p.m.

FREE to allSAMCAR members

Please call to confirm your attendance.

(650) 696-8200

monthly association and market update ofthe san mateo county association of realtors®

OuR miSSiOnSAMCAR is a trade association organized to ensure professionalism, protect property rights, promote the ownership of real property, and help members achieve success.

learn more online at

www.samcar.org

or call us at (650) 696-8200

DiSTRiBuTiOnSAMCAR Resource is published monthly by the San Mateo County Association of REALTORS®, 850 Woodside Way, San Mateo, CA 94401 and distributed to more than 3,000 recipients. E-mail your questions or comments to samcar@samcar.org

BOARD OF DiRECTORSSue Vaterlaus, 2011 PresidentAnne oliva, President-ElectPhillip houston, TreasurerRobert Brisbane, DirectorBobbi decker, DirectorSuzan Getchell-Wallace, DirectorKaron Knox, Directordennis Pantano, DirectorJohn Prouty, DirectorJennifer Tasto, DirectorCorrin Trowbridge, Affiliate DirectorMichael Verdone, DirectorFrank Vento, Directordiane Wilson, Directordavid Zigal, Director

Copyright © 2011 | th

e san m

ateo cou

nty a

ssociatio

n of rea

ltors®

mA

STH

EAD thank you to our

2011 AnnuAl SpOnSORS

gold Carr, McClellan Prof. Law Corp

bronze

The Examiner Steven Cresci Insurance Agency find more information online at

www.samcar.org/Sponsorship

Questions about Sponsorship? Please contact nasreen Willsat (650) 696-8220 or nasreen@samcar.org

EDiTORiAl COnTRiBuTiOnSSteve Blanton, SAMCAR Executive OfficerMichon Coleman, Director of Government AffairsPaul Stewart, Government Affairs CoordinatorJulie Ziemelis, Public Affairs Director

ART DiRECTiOn / EDiTORiAl DESigndalen Gilbrech, Publications Designer

Find monthly sales statistic reports online at www.samcar.org/stats SAMCAR Resource | Market Update | july 2011M

arke

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ate JULy 2011 | Market Data

countY Median pRice incReased Month oveR Month

THE MEDIAN HOME PRICE FOR a single family home in San Mateo County increased from $725,000 in April to $825,000 in May 2011, a 13% increase, according to sales statistics sup-plied by MLS. In comparison, the median price of a home was $750,000 in May 2010, a 10% increase year over year. The median County price has continued to increase month over month since January. The price has jumped 40% from $587,500 in January 2011. Signs of a pick up in home sales, beginning this spring, may have been driven by the recent encouraging employment reports, low mortgage rates and continued high homebuyer affordability.

Closed sales kept their brisk pace month to month. In May there were 418 closed sales countywide, compared to 365 in April. Compare that to 491 homes sold in the height of the real estate market of May 2006. During the housing market down-turn, only 321 homes sold in May 2009.

For Common Interest Developments, the median price fell from $395,000 in April to $330,000 in May. Average days on the market dropped from 95 in April to 80 in May with a 98 percent of list price received. Current inventory is 597, slightly higher than 568 reported in April.

Inventory continues to increase. Inventory rose 3% from 1791 in April to 1850 in May. 672 new listings came on the market in May compared to 665 last year and 702 in April.

Market conditions are slower than they were in May 2010,

however. In May 2010, the average days it took to sell a home was 47, while this year it is 70, a 49% drop in year-over-year days on the market.

However, in looking at late June statistics from Altos Research, the stats are dipping county wide for sales activity and prices. The coastal markets are declining, while the Peninsula market is looking at less of a dip (see charts above).

To see more active market data, check out www.altosresearch.com and search for your city.

Data provided by Altos Research llC | www.altosresearch.com

The Coast is showing a softer market than the Peninsula.

7-day Median Price 90-day Median price

Median Price for SAn MATeo

Median Price for PACIFICA