While sources may differ about how positive the move in the residential housing market has been, they mostly concur that the worst is behind us and we are in recovery. Last year ended on a positive note, with C.A.R. reporting a 27 percent year-over-year increase in median price, and this year is not off to a bad start, with a January median price of $337,040—24 percent higher than the January 2012 median price.

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New York Times – Some real estate agents are turning to video to target tech-savvy buyers who increasingly are conducting much of their home search through their mobile devices.

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Curbed SF – [Click the map for a larger view] Is it happy hour yet? Because we need a drink. Zumper, a new search site for apartment rentals, has released the above inforgraphic which breaks down the average monthly rental rate for one bedrooms in some of San Francisco’s neighborhoods. The most expensive one bedrooms are in South Beach, possibly because that’s where the majority of the city’s luxury residential… read more…

Wall Street Journal – Renters who opt for single-family homes over apartments are more likely to live in those homes for five years or longer and are more interested in ultimately becoming a homeowner, according to a study by ORC international for Premier Property Management.

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CNN Money – For the past year, housing starts have risen; however, home sales haven’t kept up. The gap suggests that builders are overwhelmingly building for renters, not buyers, which suggests that a healthy housing market may not necessarily call for more home sales.

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Mercury News – Although the housing market is showing signs of recovery, demand for rental housing is expected to remain strong. Follow these tips from rental experts on becoming a landlord or investor in rental property.

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• Understand what it means to be a landlord. If tenants are paying the rent, rentals can be a strong source of income; however, if they’re not, landlords must be prepared to cover costs.

• Buy in an area with a history of strong rental demand: Neighborhoods near universities are a good option. For homes in residential areas, proximity to schools can be a good draw for families.

• Consider using a management firm: Landlords should determine whether they want to select the tenant and handle property issues or hire a company to do it. Property management firms can charge a percentage of the rent, sometimes 10 percent or more.

• Do the math: Although prevailing rental prices will go a long way toward determining what can be charged, getting the best return on an investment starts with making sure the rent is enough, ideally, to cover expenses and costs.

• Screen tenants thoroughly: Once the rental starts drawing inquiries, it pays off to screen prospective tenants by asking for previous landlord references and running a credit and criminal records check.

• Get familiar with landlord laws: Two good resources for rental rules are the U.S. Dept. of Housing and Urban Development’s website (www.hud.gov), and The Landlord Protection Agency (www.thelpa.com), which includes state-specific rental guidelines and standardized forms for rental agreements.

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Effective March 1, 2013 through February 28, 2014, the allowable annual rent increase amount is 1.9 percent. In accordance with Rules and Regulations Section 1.12, this amount is based on 60 percent of the percentage increase in the Consumer Price Index (CPI) for All Urban Consumers in the San Francisco-Oakland-San Jose region for the 12-month period ending October 31, which was 3.2 percent as posted in November 2012 by the Bureau of Labor Statistics.

To calculate the dollar amount of the 1.9 percent annual rent increase, multiply the tenant’s base rent by .019. For example, if the tenant’s base rent is $1,250.00, the annual increase would be calculated as follows: $1,250.00 x .019 = $23.75. The tenant’s new base rent would be $1,273.75 ($1,250.00 + $23.75 = $1,273.75).

In addition, the Rent Board has published the interest rate payable on security deposits for the 3/1/13 to 2/28/14 period. Pursuant to Chapter 49 of the San Francisco Administrative Code, the new interest rate for deposits is 0.4 percent.

Los Angeles Times – A new survey disproves the notion that “echo boomers” – a combination of Generations X and Y – intend to remain renters and are clueless about homeownership.

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Amid rising home prices, increasing home sales, and falling delinquencies and foreclosures, more than 1 in 4 consumers (27 percent) feel more positive about homeownership than they did six months ago, compared with 19 percent who report feeling more negative, according to Trulia’s American Dream survey. Harris Interactive conducted the online survey on behalf of Trulia among 2,083 U.S. adults, age 18 and over, between November 15 to 19, 2012.

According to the survey, 31 percent of today’s renters plan to buy a home in the next two years—a 9-point increase from 22 percent in January 2011.  However, some Americans remain skeptical about owning a home. Nearly three-quarters of consumers (72 percent) said homeownership is part of their personal American Dream, which remains below February 2009 and January 2010, when 76 percent and 77 percent, respectively, agreed with this sentiment.

Despite coming of age through the years of boom and bust, millennials (18-34 year olds) haven’t completely written off homeownership. In fact, 72 percent of these young adults say homeownership is part of their personal American Dream – the same as the adult population overall. Among renters in this age group, 93 percent plan to purchase a home some day. Meanwhile, 43 percent of young adults are homeowners already.

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San Diego Union Tribune – Once Thanksgiving is over, the real estate world typically starts to wind down for the holidays and doesn’t usually reawaken until after New Year’s.  But potential home buyers who are prepared to close in today’s competitive market may want to keep house hunting while everyone else is waiting for spring.

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• REALTORS® especially recommend that serious home buyers continue shopping if they have repeatedly lost out on deals because of a limited and continually decreasing supply of homes.  Buying intensity typically cools down at the start of fall through early January, which could increase the odds for those with more patience.

• Would-be buyers historically have bowed out during the winter season because they are overwhelmed by holiday spending and commitments.  There’s also the aversion of moving in the middle of a school year.  Consumer interest typically picks back up again in the New Year and peaks in the spring.

• Certain buyers may be well-served to buy during the winter because of sellers who must move for various reasons including a job change or transfer or the possible sunsetting of the Mortgage Forgiveness Debt Relief Act, which lets certain home sellers get tax relief on mortgage debt forgiven by lenders.  The possible expiration has pushed home sellers to list and short sell their homes before year’s end.

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