I love Good News--I usually try to glance at the articles that come out from CAR (California Association of Realtors and NAR (National Association of Realtors). Today was a great article about some cities seeing rising prices in home sales. That was some good news and I believe can encourage us all with the determination to go out there with a positive attitude to have the best year ever. Positive is good. I have a friend and she says "Only the Positive....only the positive". It always is in my awareness and I can hear her saying it. She my best friend, Wendy and she helps to keep me on track! Have a great day and perhaps this news will help you make it a great day!
I am Jeanean Gendron, your Redding and Shasta County CA Specialist. You can reach me at 530 276-7417. I answer my phone.
Jeanean,
I love your friend's saying....it's good to surround ourselves with positive people.
Great to hear that house prices are rising in your area!
Jo
Jeanean...
Good news travels quickly around here. Did you know the new NAR Pres is a gun toting, snake shooting, rock chucking Rancher? My kind of woman? :)
TLW...ROAR!
2. Bay Village, Ohio, +32 percent
I believe Bay Village is Cleveland area! That is great to see... of course it is good to see in CA, TX, PA, etc.
I think it is important though to say that NAR is quoting Forbes who is quoting Altos Research, both are independent of NAR.
After Joe Pryor's hate filled experience on ActiveRain the other day I was kind of scared to use an AutoTweet which said Realtor Magazine.
This is a most random assemblage of cities, though, don't you think, Jeanean? Do have any thoughts on why these particular zips were favored by the Real Estate Gods of late? Happy for you, of course. Hoping to be able to extrapolate some wisdom that might indicate when we too can expect such good fortune.
Parked....while I go catch up on Maureen's comment. I miss so much. Will be back after 1 hour....that is the time it usually take for me to get up to speed on a reference from Maureen. Actually, I read the post but not the comments (would guess all the hate filled ones were deleted). I can't imagine anyone would take issue with that post....thanks for the info as to where the data comes from.
TLW....she is our kind of gal! Having grown up on a West Texas cattle ranch....you betcha! My Dad would not let me have a gun, however. I protested loudly about snakes....my Mother carried a gun....to no avail!
Hello Jo, I've got my comments all turned around here. I really wrote the post about good news and anything we can point out as helping us to keep a positive perspective. I do short sales and sometimes it's good to see something that looks positive in this market. Thanks for the visit....and Positive...only the Positive!
Juliet, that is a very interesting question. I use to live in Sunnyvale CA. It just happens to be located at a junction of all the major commuting freeways to the entire South Bay. I sits smack dab in the middle of the South Bay and always is highly prized for that reason.....I made a tidy sum on my little house there. I would think that we would see these "hot spots" in the market be the first to turn.
It is an odd assortment of cities but I was happy for my brother who lives in Arcadia, California. I know it well and can't figure out why it would show an increase big enough to be on a list! Regardless, any news like this is good news.
So, out of 8,000 cities polled, there are ten that have seen 24 to 36 percent increases. Thats a whooping, 0.00125% of polled cities. Extrapolating linearly the difference between them to zero, only 40 cities, or 0.005% have positive price increases. Hip Hip Horray, the NAR propaganda screams the recovery is here!!!!
I am not being critical... of you or NAR. I am just glad to see it is Altos Research and that Forbes is quoting Altos Research. Francesca Levy of Forbes wrote it based on research from Altos, NAR Realtor Mag didn't research it or write it.
That's how Forbes does their Forbes Life slide shows. They get attention, sometimes you read them and say huh?
Of course some will comment without reading or thinking because of keywords in titles!
Any good news is always encouraging. Thanks for sharing. Is there a top 100 list?
Margaret, I don't either. I just happened to live in one of the cities and it always blew me away how much someone would spend for a 3/1 1200 sq ft home in the City of Sunnyvale! I would say that Realtors are just happy to see some encouragement in the trends. Also, as Maureen points out...the news is not NAR data but coming from Altos Research.
Michael, it is always good to look at things from many perspectives and while I can't personally vouch for your data, I would agree this is a very small trend and may not mean much. Realtors and Real Estate Agents must face a hard market each and every day with an effort to help people buy and sell wisely. We see so many people that have lost their homes and all their financial assets. We just like to see a bit of encouragement, no matter how small. As above, Maureen points out that the encouraging part is that it is not NAR data but comes from Altos Research and Forbes. Thanks for coming in on the discussion. My intent was more to the encouragement of our day to day work in helping the Consumer!
I do hope this is a good year for all of us.
Maureen, thanks for the clarification. We'll see how this goes. I absolutely know you were not being critical. I always learn something and will head in the direction you point to. My investigation always provides me a new level of understanding on what's going on here in the RAIN. Thanks for coming in on this to set the precedence of what's been happening with a NAR reference. I also am not interesting in being critical of NAR, however I must admit that I always caution my clients that our track record with NAR has not been stellar. On the other hand, who would want the task of being the seer for the future of this Industry and the State of the Economy.....Not Me!
Mike, I don't know.....that would certainly be of interest to us all. Thanks for coming in on this with a positive point!
Tammie....ditto and ditto again! Thanks for the positive note! That was the whole point of the post to encourage all us beleaguered Realtors!
Finally a breath of fresh air! I would love to see more and more posts like this!
Good NEWS!
I have been very busy over the last three weeks here in Vermont. I'd say that the market has certainly picked up.
Hi Jeanean -- Any positive new is good news. Thanks for sharing!
I usually try to focus on my local stats, but after the doom and gloom on the national news this week, I am SO happy to hear that NAR published some good news!
Too little information to really get excited about.
Are these average sales price? Is it for all housing or single family detached homes? How many sales in each city were there?
Many times with very small sample sizes it's easy to get a few weird results. You might get a few really high priced sales one year vs. the other year and it can easily skew the averages. I guess it always makes for an easy article.
Who wrote an easy article? Jeanean can I add a link... please... Forbes.com's Home prices rising
Tim wrote: "Many times with very small sample sizes it's easy to get a few weird results. You might get a few really high priced sales one year vs. the other year and it can easily skew the averages. I guess it always makes for an easy article."
Who did an easy article? Jeanean? NAR? Forbes.com Was Altos sample too small?
Forbes.com's Behind the Numbers says:
To find out where prices are increasing the most, Altos Research pulled data for every U.S. city with at least 100 homes on the market (roughly 8,000 cities), and found those with the biggest price jumps from the previous year. Altos produced data on an individual city level, rather than using Metropolitan Statistical Areas, which can encompass large areas of multiple cities, even reaching across state lines. Altos used median asking prices based on a 90-day-rolling average as of Feb. 12, 2010. Altos tracks asking prices for single-family homes but not condominiums.
Every US city w/ at least 100 houses on the market... individual cities not metro areas...
I guess I did not even need the link. It says it on the link that Jeanean has "Every US city with at least 100 houses on the market...
Yeah Maureen! I'm at work and buried until later this evening. Thanks for this response and the source data of the report. You can provide a link any time you like! Thank you!
Jeanean - that is very good news and glad to see the list - thanks for sharing it. I am with your friend - "only the positive". Absolutely!
Jeanean, love the positive encouragement. I love the photo as well. I will take a look at my stats from NAR and will more than likely feel like I should have been in that picture just the same.
Thanks for sharing the positive news--all the negativity feeds on itself. Let's hope the housing appreciation news continues to spread from state to state.
Jeanean - this is an impressive list and I am pleased to see some CA cities, including Poway which is not far from me here in San Diego.
Altos does a great job with their research - glad to see C.A.R/Forbes/N.A.R. citing them. I would be curious to see the longer list. This is a small sample of cities, but perhaps there are acutally hundreds that have seen an uptick in prices over last year.
Jeff
Jennifer, I agree. We all need to see some good news. Thanks for coming in on the discussion.
Derek, Amen!
Mark, that is true for us as well. I have 10 in escrow. 5 are short sales....but I'll consider 10 escrows an indication of a good year. Thanks for coming in with positive news. We like it!
Chris, thanks for stopping by and adding a positive note!
Kerry, I would say that the purpose of the post was to combat that. I personally feel it is up to us to represent the true market trends and communicate as much as possible to the Consumer on what we know about the market. The mainstream news media has their own agenda and I find more good information here with in the RAIN with Matt Heaton and Jeff Corbett. There are so many that I cannot list them all. I have my list of trusted knowledge experts and that's where I get my best understanding of the market trends.
I also subscribe to quite a few blogs that bring me the news from other professionals in our Industry. We have to know the market and what might be coming. Thanks for coming in with a positive note.
Tim, I think Maureen has quite nicely dealt with your comment.
Maureen, thank you for adding so much value to this post. I'm a bit buried at work right now and so I could not responsibly work this post. I so appreciate you bringing such knowledge and value to us all. You are definitely one of my trusted knowledge experts. I viist regularly to learn.
Sharon, thanks for coming in on the discussion. I am very grateful for my friend and she is every present in my mind with that "only the positive" statement. We really do have to live our lives that way....it's not hard...just our intention! Thanks for the visit!
Raine, what a great idea. I do think that is what I had in mind. Thanks for coming in on the discussion and bringing a positive perspective. That is the whole idea! I can see us all up there "jumping for joy" and for our Consumer!
Hello Norma, thanks for the visit. I agree on both points. We see way too much negativeity in the News, however it's so good that this came from Altos Research. Maureen has given us such impressive data clarification. Lesson to be learned here....is dig a bit deeper and put your data source in the post. Thanks for coming in on the discussion.
Jeff, so was I. I use to live in Sunnyvale, CA. It does not relate to my market necessarily....but it still made me feel good. I also would like to see the entire list. I feel it would provide us an interesting perspective on this trend and how far reaching it might be. Thanks Jeff!
Just on a last note, I would like to thank my friend Maureen McCabe for adding so much value to this post and for clarifying the data source. She always brings so much class and such a level of precision in her articulation of the subject matter. I learn from her on a constant basis and love to visit her blog. She is astute, knowledgeable and very dedicated to helping the Consumer. I hope this commentary about her will meet with her approval! That would matter to me!
Absolutly Jeanean - as a matter of fact I think I re-tweetted it yesterday to my followers :)
I'm not familiar with these areas, are some a price adjustment after a huge drop off?
Maureen-- Not sure what you mean about Joe Pryor--what happened? I missed something...
Hey Jeanean,
It's always nice to hear good news. Best wishes to you in your market and congrats on your Gold Star!
Even a small light coming thru the tunnel is worth celebrating.
Thanks for the good news. Seems to be picking up in many areas. Hope that everyone has a great year.
Jeanean:
Great news. Would like to know more.
From the article: An increase of 24% to 36% in one year at these locations? At the top of the crazy market rise in Florida we got 33% increase per year. Has anyone looked into these numbers at these locations to analyze the increase?
Did the bottom fall out of these locations so far and fast that they naturally readjusted up?
Is there a huge increase in employment or a really low unemployment in these locations that could have driven prices up?
Are investors driving the increases?
I always like to look behind the numbers. As one of my managing editors once told me, there are always more than 2 sides to a story. What are they?
Jeanean thanks for #35.