Prices Continue to Climb; Rates Remain Low!: Well, the following relates to the latest numbers available for the State and also pretty accurately reflect on the status of things in Marin County. Given the conditions that helped generate these numbers, it is very reasonable to expect a continuation as we move deeper into 2013. Rates remain in the mid-3%'s for 30 year fixed loans and inventory is still well below normal levels at all price points. What does that mean? As with any item that is in demand, it will continue to drive prices up and we have seen more multi offers in 2012 and are continually seeing some in the early days of 2013. So, without a further word, on to the stats and info. Home prices rose dramatically across the Bay Area in December, led by Contra Costa County, where the median sale price of single-family homes jumped 22.9 percent from a year earlier. San Francisco finished a close second, with the median price up 22.3 percent, according to a report released this week by the California Association of Realtors. The median price rose 21.8 percent in Sonoma County, 17.8 percent in Alameda County, 14.8 percent in Marin County, and 4.5 percent in Napa County. Across California, the median sale price rose 27 percent, which the C.A.R. attributed to a significant increase in sales of higher-priced homes last month and a shortage of lower-priced homes on the market. For all of 2012, the median sale price rose 11.6 percent in California. The median sale price indicates that half the prices paid were higher than this number, and half were lower. Medians are more “typical” than average prices, which a relatively small share of transactions at either the lower- or the upper-end can skew. California home sales edged up 0.9 percent in December from a year earlier and declined in all but one Bay Area county. Sales rose 29.7 percent in Marin County but fell 17 percent in Napa County, 7.9 percent in Sonoma County, 6.9 percent in Contra Costa County, 5.3 percent in San Francisco, and 1.5 percent in Alameda County. For the year, home sales statewide rose 5.4 percent from a year earlier. Not only is this info of value in making a decision on selling or buying your own home, but it also is helpful in your decision as to whether or not to buy an investment property this year. Remember, not only can investment real estate be a great way to increase the value of your personal estate, it can also provide unmatched income tax writeoffs for you. These can include depreciation and the costs of maintenance of the investment property that are not available for deductions on your personal residence. Check with your CPA for more details as to how it could exactly affect you. If you need assistance on these or any other real estate needs, don't hesitate to call us: Peter: (415) 279-6466 or Jane: (415) 531-4091. Enjoy the Super Bowl on Sunday!