SFResidence is part of the TRI Coldwell Banker office at 1699 Van Ness in San Francisco which is one of the premier offices in the City and has the market share numbers to prove it. We have the most elite agents selling real estate in the San Francisco Bay Area. As a result, our office posts some impressive numbers.

Well, well, well. I have to echo the sentiments I put out there last week. Again, listings are down, but look at the number of ratified and closed deals in our office in just one week. Though Coldwell Banker has many offices in the City, the TRI office still does the lion’s share of the business in San Francisco.

Here are the numbers for the week of 9/22/10:

Foster Weeks publishes a weekly mortgage report which is updated every Monday morning. How is this affecting the San Francisco real estate market? Read our weekly and monthly market reports. Here’s what Mr. Weeks says about last week’s activity:

It’s been said there’s a pot of gold at the end of every rainbow. Yet, after last week’s regularly scheduled meeting of the Federal Open Market Committee, the Fed helped gold seem more “charmed” than ever. What happened, and what does this mean for home loan rates? Read on for details.

As expected, last week the Fed decided to keep the Fed Funds Rate (which is the lending rate banks charge each other for the use of overnight funds, and it is used as a base rate that many other lending rates are based on) at 0.25%. The Fed also reiterated that economic conditions warrant keeping the Fed Funds Rate low for an “extended period”.

But the Fed’s Policy Statement was clearly more downbeat on the economy and showed greater deflationary concerns than the previous Fed Statement. It also gave the feeling that the Fed will jump in with more Quantitative Easing (QE) if necessary. QE means the Fed is prepared to create Dollars through Treasury purchases, which in turn causes the Dollar to weaken. And last week, in response to the Fed’s statement, we saw precious metals like Gold and Silver move higher as a hedge against a weaker US Dollar.

But, the Fed’s Statement is also significant because another round of QE by the Fed could mean continued good news for Bonds and home loan rates. What’s more, last Friday, respected hedge fund manager, David Tepper, noted that the shift in the Fed’s statement also puts Stocks in an almost “no lose” position.

Why is this? Should the economy improve, Stocks go up. But should the economy weaken, and the Fed jumps in with more QE, Stocks could also benefit because more QE alongside a weaker economy brings the Dollar index down, making our exports more attractive. This will greatly help large US multi-national corporations, which have a high influence on the major US Stock indices. The Fed clearly has some big decisions to make in the coming weeks and months to help ensure our continued recovery, and I’ll be watching closely to see how Bonds and home rates are affected. Last week, for instance, Bonds and home loan rates ended the week about .125 percent better than where they began.

Another thing to note – there was a mix of housing news last week. Housing Starts rose 10.5% in August from July, which was above expectations and was the highest level in 4 months. Building Permits, a sign of future construction, gained 1.8% and were also better than anticipated. In addition, New Home Sales came in near expectations, while Existing Home Sales were slightly above expectations – but still 19% below the sales pace of a year ago. Also, the inventory of unsold homes was reported at an 11.6 month supply for existing homes and an 8.6 month supply for new homes. Remember: The level of improvement in housing is a big indication of the strength of our economic recovery.

If you or anyone you know would like to learn more about taking advantage of historically low home loan rates and a great supply of available homes, please don’t hesitate to call or email me as soon as possible. Or forward this newsletter on to anyone you think may benefit and I’d be happy to talk to them free of charge.

IT’S OFFICIALLY FALL, WHICH MEANS IT’S THE PERFECT TIME TO MAKE SURE YOUR HOUSE IS READY FOR WINTER. CHECK OUT THE MORTGAGE MARKET GUIDE VIEW FOR IMPORTANT TIPS THAT CAN HELP… BEFORE THE COLD WEATHER ARRIVES.

Read the entire article and see the graphs here.

- Foster Weeks

California Association of Realtors just released its report for August 2010 real estate activity.

Calif. median home price: $318,660 (Source: C.A.R.) (note: compared to $314,850 previous month)

Calif. highest median home price by C.A.R. region: Santa Barbara So. Coast $777,000 (Source: C.A.R.) (note: compared to $871,250 previous month)

Calif. lowest median home price by C.A.R. region: High Desert $127,860 (Source: C.A.R.) (note: compared to $128,950 previous month)

Calif. First-time Buyer Affordability Index - Second Quarter 2010: 64 percent (Source: C.A.R.) (note: compared to 66 percent First Quarter 2010)

Mortgage rates – week ending 9/16/10:

• 30-yr. fixed: 4.37%; Fees/points: 0.7% (note: compared to 4.42% and 0.7% points last report)
• 15-yr. fixed: 3.82%; Fees/points: 0.6% (note: compared to 3.9% and 0.6% points last report)
• 1-yr. adjustable: 3.4%; Fees/points: 0.7% (note: compared to 3.53% and 0.7% points last report)

- California Association of Realtors & Freddie Mac

Note: This guest post is contributed by Kitty Holman, who writes on the topics of Online Nursing Schools.  She welcomes your comments at her email Id: kitty.holman20@gmail.com.

Some of the most incredible real estate in San Francisco includes the historic Victorian homes that have been meticulously preserved by various owners for many years. Here we will explore five fantastic styles characteristic of these beautiful homes and the features with which you can recognize them.

1.)          Italianate style. Italianate style Victorian homes are known for their rectangular shape, flat roofs, overhanging eaves, square cupolas, and ornamental paired brackets and cornices. Other indicators include wood frame and arcade porches peaked with balustrade balconies, also often rectangular.

2.)          Gothic Revival style. These houses are usually recognizable by their sharp angles and rooflines, reminiscent of Old World cathedrals. A sense of height is created in these Victorian homes due to their pointed pinnacles and parapets. Even the exterior window moldings are sharply arched into points.

3.)          Queen Anne style. These Victorian homes are the fanciest, most embellished and most detailed of all the Victorians. Stained glass windows, towers, spindles and stunning balconies are only a few of the excesses you may find in these homes. More flourishes are evident in a Queen Anne’s intricate and whimsically carved gingerbread trim and patterned masonry. These opulent homes were the most innovative of their time, with many characterized by an overall asymmetrical shape.

4.)          Stick style. You can always spot a stick-style Victorian home by the ornamental stick work that decorates the sides of their exteriors. Another feature of many of these homes is false fronts, which give the illusion of height. Like Italianate style Victorian homes, these homes often feature flat rooflines and square features. However, they are generally simpler and less opulent than, say, Queen Anne or Gothic Revival style homes.

5.)          Second Empire. Three things to look for in these Victorian homes are: a Mansard roof (that means they have two slopes on each of the four sides, with the lower slope steeper than the upper slope), Dormer windows that are set vertically into those lower slopes, and distinctive rounded cornices.