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The Real Estate Rebound is an Overall Great Sign

Median real estate sales prices have been ticking up for five straight months.

Working in the real estate industry is sure like riding a rollar coaster.

Some weeks and months there are peaks, some downturns, some spirals and loops, and some complete halts.

It's been a while, in my 14 years of real estate, since I have seen any stability. By stability, I mean there is an average number of homes to choose from for an average number of buyers.

During the downturn from 2009 to 2011, there were a lot of homes for sale and not that many people buying. This year, there are few homes for sale and a great number of people who want to buy.

According to a Barron's article, prices are going up and they are going to continue through the next year. They attibute this to a rise in rent rates, low mortgage interest rates, improvement in job growth, and availability of bank credit.

Karin Cunningham, "Your San Bruno Neighborhood Specialist," is a Realtor with Prudential California Realty. She can be reached at 650-438-3504 or karinc@prucal.com. Visit her on the Web at www.KarinCunningham.com or check out her blog, San Bruno Life, on Facebook.

Jess Marie September 13, 2012 at 10:20 PM
Do you see that on both sides of el camino?
Karin Cunningham September 13, 2012 at 10:27 PM
Absolutely! There is currently a demand for all different kinds of homes on both sides of El Camino Real. At the moment the MLS shows 12 total homes for sale in San Bruno and 22 in South San Francisco. In an average market there are 50 or more homes for sale in San Bruno and almost 100 in SSF. SSF is a much larger city with more homes.
Cris Hipolito September 13, 2012 at 11:42 PM
Takes a while to get approved with loan espescially FHA loan.Bank acts like God. Hallelujah !!
Karin Cunningham September 14, 2012 at 03:44 PM
Actually, one of the reasons the market has heated up is because more people ARE qualifying quicker and easier. FHA loans are designed for people with a lower down payment. You still have to have great credit and your debt to income ratio needs to qualify based on the price of your purchase but other than that, getting approved for an FHA loan isn't that hard!
jim mueller September 27, 2012 at 04:53 PM
You'll just have to pay PMI on the lower down payment.

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