East Bay Area Real Estate

Q2 entry-level housing affordability up to 48% The percentage of households that could afford to buy an entry-level home in California stood at 48 percent in the second quarter of 2008 compared with 24 percent for the same period a year ago, according to a report Tuesday by the California Association of Realtors (eastbaybusinesstimes.com)

Bay Area Home Sales Show Life July home sales in the Bay Area increased on a year-over-year level for the first time in three years, while the median home price dove to $470,000 as buyers snapped up low-priced foreclosed properties, according to report released Tuesday by DataQuick. (insidebayarea.com)

Homes Now More Affordable A pair of reports released today highlighted the upside of the real estate downturn: Housing is becoming more affordable for more people across California and the Bay Area. The percentage of households able to buy an entry-level residence in the state reached 48 percent during the second quarter, double the level from a year ago, according to the California Association of Realtors (sfgate.com)

Real Estate Chaos Hits Appraisal Industry
How much is your house worth in this turbulent market? That’s the question on the minds of many Bay Area homeowners, but it’s become increasingly tough to answer, even for the pros. Instability in the region’s housing market is making it difficult to determine values, according to mortgage brokers and real estate appraisers. (sfgate.com)

STAR Test Results Show Steady Gains for BUSD, State The results for California’s 2008 Standardized Testing and Reporting (STAR) Program show a higher percentage of students in the Berkeley Unified School District scored proficient or above in reading, writing and mathematics as compared with the state results. (berkeleydailyplanet.com)