. >> those homes my realtor told me is kiss them good-bye. >> bryan has watched price skyrocket and realtorsd inventory lag behind the flood of buyers. >> it's a tough market, very, very difficult for buyers to get into the marketplace. >> realtor pamela mitchell says high demand is pushing home prices above the value of comparable homes in the same neighborhood. >> so a lot of us, 22, 10, 15-plus offers on almost every house that's out there that's having -- that's for sale. >> sellers have it easy unless they sell and become a buyer. >> the dilemma, some people are selling and becoming a renter's market to wait out. >> she recommends buyers keep trying, something bryan plans to do. >> i've been in my apartment for seven years. you know, i need a house. >> mitchell says one factor are buyers or out of state corporations with billions of dollars buying up homes now hoping to turn a profit as prices rise. she says that is helping to keep prices high and inventory low. in concord, ken prich et, ktvu channel 2 news. >>> the rally on wall street resumed today. the dow industrial gained 106 point

well it wasn't because realtors weren't trying to sell the land. everybody thought san francisco would expand eventually. all of these real estate guys were trying to sell lots and nobody was buying. it was cold, foggy. there was no good transportation. it just wasn't a good buy. but then one of these real estate guys, who owned a couple of blocks just south of sutro, saw these cars lining up and saw the popularity of them. he decided, well, if you can't beat them, join them. so he made a little deal. he bought 50 old cars, dragged them out to his land just south of sutro in the sanddo you knows. and he said, if you buy a lot from me, $35 up front, $7.50 a month, i'll toss in two cars. so you can pretty much move in today. it's like a starter home. and it kind of helped get attention to the whole thing. he built what he called novel seaside cottages. so this is one of his novel seaside cottages where he basically elevated these cars to a second story. here's one in construction. and off on the right there is his little real estate office, in anothe

we have read stories and you can tell me this if this is tr that some realtors hold back the best propertieshe all cash offers. is that true? >> timothy is a lot nicer to deal with. we don't have that kind of stuff to deal with. gerri: my mother lived in knoxville for a long time. >> do see people holding their properties for all cash offers? >> typically in today's environment, yes, most of the buyers are cash buyers. what you need to understand is that miami was one of e hardest hit markets during the recession. since then, we have grown tremendously. one of the hottest destinations in the world, what you're seeing the buyers that have been on the sidelines for the past four years are all running to purchase property and paying pay cash. so it's not really a boom that's going on gerri: i can think of another red-hot market. and that is in los angeles. is it possible that there is a bubble building and some of these markets right now are prices are maybe a little too high and it is because inventories are so tight? >> i don't reay think so. there's been a lot of people sitting on the sideli

. >> reporter: this realtor is glad home prices have stopped falling. they are not rising yet. rentals are strong. but his selling season won't start until mid-june. he is cautiously optimistic. >> so what people do is they come here on vacation, have a great time, most beautiful place they've ever seen. >> reporter: up north buyers are already picking up places and have been since winter. the hamptons are back if not better than ever. >> the hamptons is unlike any other market. we're very much in a bubble here. >> reporter: rentals for the larger more expense jennifer homes are booked. sales are growing more competitive especially in the hampton sweet spot. >> we've seen bidding wars in four to five million range. >> reporter: the threat of rising mortgage rates is bringing more vacation home buyers back to the market eager to take advantage of those rock bottom rates while they still can. vacation home sales were up 10% last year according to the realtors but with added confidence now this year might beat that. >>> and once you land that vacation home or even if you're saying

buyers like jared simon know the frustration first hand as far as being successful , realtors says thereden secret >> we put in nine of first we lost all those offers all offers were above market price in we are competing with 20 to 30 other people. sometimes we are competing with people will pay all cash. >> reporter: housing demand has come roaring back. some housing developers are holding lotteries to choose buyers. and that seems to be the case for a new 228 unit development in the bay area. the new cul-de-sac--called "fusion" was created by developer o-brien homes. o'briend began holding monthly housing lotteries to keep up with the rush of buyers. >> pam: gusty winds have truly in creased fire conditions. the skyline on is a clear night to see the camera bouncing about her calm jacqueline bin @ posy how long this hot dry weather will last jack bowen >> pam: >> jacqueline: right now it is very mild or round of pay barrett bay area same thing in concord still 80 degrees in napa and and from warmer conditions as we head into tomorrow and the rest of the work week. we see a few tunes w

ipad i pots cell phones and said to people are looking for electronics. >> the realtors can stay on tops coming to your home of the they are bringing in people that can be trusted however but because it is in a real hot market way so many people coming to open houses it is hard to keep track of how many people come into your house and if they are honest are not. >> hiring a realtor that you trust is one thing is if you can do to make sure that they make sure that the people who are coming to your home are trustworthy. >> if you have already moved out of the home we suggested to put automatic timers on your home given the perception that someone is still living there appeared >> have an alarm system piscine. if you do not have a sign at least having the sign is good for keeping people away. >> help people to come over to your big home and check the doors to check the windows and is be there periodically watching your property. >> stop the mail that is one good thing if you're no longer living in your home. so that your home will not become some burglarized. >> you never know who is drivi

that's what i'm hearing from lenders and realtors alike. craig stremt of apex home loan in maryland says "it's amazing to see the frenzied pickup in home buying as renters get nervous that both rates and home prices will rise quickly." dan green out in cincinnati says his refi clients, especially fha borrowers, are being hit the hardest. and realtor david fog in burbank says rising rates are clearly slowing the market and pricing. now, rising rates have hit refinances hard, down to their lowest level since december. and while many borrowers have already refied, as more people gain equity in their homes due to rising prices they're finally qualifying to refi. but now they've missed the boat on the lowest rates, melissa. >> diana, isn't this a reason for them to jump in ultimately? >> people off on the sidelines. >> exactly. because as you said, this is such an many oceanal trade. i had a dinner last night with one of the top brokers at edelman who tells me he's as much psychiatrist right now as he is actually broker. in other words, talking

. >> i was in a position to buy a home but now those homes, my realtor told me is difficult to buy. > has watched prices rockets and dealers have watched the homes lag. realtors pamela mitchell says high demand is pushing prices over the comparable in the neighborhood. >> there's 22, 10, 15 plus offers on houses out there that are for sale. >> reporter: buyers have it easy until they try to sell. >> they will buy again. >> reporter: she recommends buyers keep trying something bryan plans to do. >> i've been in my apartment for seven years and you know, i need out. >> reporter: mitchell says one of many these higher prices are investment buyers or out of state corporations that have billions of the dollars buying out homes now while the prices are relatively low. hoping to turn those around for a profit as prices continue to rise. she says that helps keep prices high and inventory low. in concord, ken pritchett, ktvu news. >>> consumer confidence is up, the consumer index rose to a five year high of 76.2 this month. that's up from a reading of 69 in april. people are feeling more confi

housing alliance and representing are owners thank plan c, the small property owners and san francisco realtors and as i said before, happy to support supervisor farrell and the motion to send this back to committee, so we do have some additional time to make, hopefully, what will be a final set of amendments to the legislation. just to take a moment to talk about where we are, because i flow this is know this is the first time this item has been in front of the board to address the flight of tic owners in the current condo conversion session and protect san francisco renters. and hopefully ask our colleagues to support this [hrao-eupblgts/]ion legislation in the final stretch. >> thank you, president chiu, madame clerk, can we take the motion to refer back to committee, same house, same call. >> that would be without objection, mr. chair. >> thank you. ? >> madame clerk, call item 17. >> item 17 is an ordinance amending the police code regarding access to reproductive health care facilities. >> supervisor campos. >> thank you very much mr. president. i would like to begin by thanking my collea

according to the san francisco association of realtors, the median price jumped 31% for a single home, it's now $1 million. the median price for a condo, $850,000. and they are getting scooped up within weeks of getting on the market. >> lots of people, especially the tech industry down in the silicon valley wants to come up here to the city. >> homes are getting sold thousands of dollars over asking. >> it can be between 7 and 20% over. >> i heard anywhere up to $200,000 over asking. >> definitely for some properties, absolutely. >> that's not a guarantee you will get it. >> low interest rates are driving the buyers, but there are not enough homes for sale. >> we are competing with buyers who are all cash, sometimes investors, but i still tell my buyers who are getting the normal loan. 20% down, go for it. >> as crazy as it seems, it's not where it was at its peek, back in 2006. that is still good news for the economy. kpix5. ainlnew housing report. the dow shot up by as much as 218 points. gave half that back. still, closed at another record high. >> real trouble in toon town this a

so it will be the real realtors ocean of oklahoma will help the realtors and there are unions who willp ruin members. there was a teacher who reached out with a campaign to help get a new car. >> michael: one interesting thing about your site it's being used by many fundraisers. mercury one has raised $711 million to buy supplies for those in oklahoma. there are individuals raising money like you mentioned one campaign started by a teacher who has raised more than $4,500 to replace her car that had been destroyed in the tornado. is there an appeal. >> there really is. this is not about command and control. it's about individual people wanting to band together to use their social networks for something that is good and effective. this is something that you can do with facebook that actually helps. and then wherever those people see the need they can steer their efforts and like you said, it's a whole range of things. we have novice ability of that until people who are extraordinarily creative, they come up with interesting things that need to happen, and they launch campaigns. i'm happy

. >> then, as a realtor this would be slightly confuse to go me as well because it says clearly that june 30, 1987 to revert to two family dwell and the status as c as completed, yet at the time when you look at item 3, building closed occupancy classic is 3 even though it's an r h 2. >> even after that p g and e hooked up four meters. >> it has nothing to do with the zoning. that's the building department classic. >> so does it mean three units? >> okay. >> except that exhibit d does say present occupancy. >> anymore questions, commissioner honda? >> no. i'm looking at exhibit i where it says csc dated august 4, 1987 and talks to removing to it the units. occupancy, you included this exhibit for what purpose? >> for completeness. i wanted to complete the information of the process. >> this is the close out that the previous owner took it down to move it from three units to two. maybe it was done and maybe it wasn't. when my clients bought it there was three units. they haven't made any chance. this would have been as part of the records made available to your clients when they purch

according to the san francisco association of realtors, the median price jumped 31%. for a single home it is now $1 million. the median for a condo, $850,000. and they are getting scooped up within weeks on the market. >> lots of people down in the silicon valley wants to come here. >> homes are getting hundreds of thousands over asking. an improving economy and low interest rates are driving the buyers. >> sometimes investors. i still tell my buyers who are getting the, quote, normal loan, 20% down, go for it. >> reporter: as crazy as this housing market seems, it is not even at the peak it was back in 2006. this is all over the bay area, not just san francisco. go to our website kpix.com and you can take a look. allen. >> linda, thanks. >>> the stock market got a boost as well as a new report on consumer confidence hitting a year high. so, the dow finished at a record close up 1 06 points. the nasdaq and s&p also closed higher. >>> antioch investigators are trying to figure out what caused a fire. it happened just after 8:00 this morning. firefighters arrived and hu

we spoke with one realtor who said if business in the realtiy business is only down 30% this summer fromrying to convince homeowners of houses still in good condition to start discounting their home to get people who would rent them for the summer season. a lot of these towns up and down the coast that are not the business hubs like the seaside heights. a lot of them would be very quiet. >> is there any help for these businesses? or are they being left out in the cold? >> reporter: they're not necessarily being left out in the cold but they saw it coming. a lot of those businesses had damage, too. instead of trying to go out and get more business, that realtor i just mentioned, his office opened weeks ago. for months he did not have an office. his first priority was not necessarily figuring out how to fill the houses. it was how to get back to the office. it is an unfortunate situation but it is one where, it is not really clear how you would solve it given how this area still looks. >> so you were in seaside heights listening to fun. that must have been cool. what do you think about how

. >> reporter: there are no hard numbers how many accidental landlords are out there realtors say the phenomenon is contributing to the lack of for sale investor because many people are buying without selling. in some of the hardest hit markets it may take years for these homeowners to rise above water and sell their way out of the rental business. >>> finally tonight as we kick off the unofficial start of summer. let's make it official. millions of americans may be planning to grill up steaks or burgers or hot dogs this holiday weekend but before you do brace yourself for some sticker shock at the butcher shop. jane wells tells us what's cooking. >> reporter: a funny thing happens to your barbecue from here to here. the price sizzles. >> beef prices have gone up close to a2r0u7bd%. >> reporter: he knows the market in burbank, california. he said demand for beef always jumps heading into summer. >> there is to be more than demand. >> reporter: all cuts of meat costing more. ground beef prices jumped the most. up 9%. here's something you'll see in california. here at the green acres ma

it's the kind of market that's turning south bay realtor sam astar into a star to his clients he's a hero. >> i kind of look like a hero to them now because last year i kept telling them to buy and now they've seen what it's done. >> reporter: over the last few months the index say bay area houses prices rose more than 20% in a market that was already hot. this nice but not huge willow glen house, $1.5 million. good news if you own a home but it's even harder to buy if you're looking or renting. >> i'd like to see the rental, the rents that are being charged drop a bit because that would make it healthier. >> reporter: but for now the bay area remains one of the most expensive areas in the country leaving many potential home buyers on the sidelines. optimism about the housing market also helped wall street today. the u dow industrial settling an all time high close. how the tech economy is laying a foundation under our housing market. scott budman, nbc bay area news. >> thank you. some local businesses might be closed for a while. a fire at an antioch strip mall put a half a dozen bu

a protenant board of supervisors any more but it is a protenant city and if the board gives into realtors they will take the sheut to the ballot. >> next speaker. >> good afternoon, supervisors, peter coen from the housing organization, we strongly support the amended proposal. it is a compromise, it is important to remember that our current rental housing stock is a limited and precious resource and when the condos when they are converted to tic and condos the city loses rental housing. that is not the demonized tiv owners per se, but we are dealing with a thick stock and so we have to be careful about how that process works, the pace of it and what we are getting in exchange. this legislation very smartly and carefully tie that conversion, that loss to the production of affordable housing into the future. and ensures that we are increasing net supply of rental housing and not simply spending in place and that ties us to the duration and the need to the suspension of the lottery to allow that to replacement to take place and frankly the change the culture of losing so much rental housing

new member kristen gray is successful realtor with mba and says the selection process weed out guy who waste her time. >> amy is more old fashioned match making service more research and development. it's like tvl researching these people. for the cash strapped. 2500 membership and sore to 20,000 dollars. amy review pictures of each client dream match gets the complete dating history and searches high and low for the one. >> sexy. a little edgey. a little eccentric. >> a little mysterious maybe, >>reporter: for he let members she will have casting call like this one recently at the 4 seasons palo alto. out of hundreds she is may select a few to introduce to her v.i.p. but amy first to say the clients themselves need to ship up in this competitive dating market. >> artfully prepare somewhat we away from the work talk and really hopefully genuinely show the interest in who you are out with. >>reporter: george took the advice to heart on his date with kristen. >> never been to london. >> never. >> such an amazing city. >>reporter: he says there was chemistry but not a love connection. so

realtor ben lee says his listings get bids within days. >> it's a frenzy. i'll have people calling me before it hits the market trying to get in and give their clients an advantage. i'll have multiple buyers lined up outside. >> reporter: that's what discouraged the griswalds from buying a new home. you don't think this market is a bubble right now? >> no, no. i think it's a correction. we're getting to what the proper prices of these neighborhoods should be. >> reporter: and low mortgage rates are also fueling the housing recovery here, scott. the average on a 30-year fixed mortgage right now is 3.4%. that's close to a record low. >> pelley: carter, thanks very much. a politician whose meltdown made national headlines is trying for a comeback. she was born without a wind pipe. so doctors grew one for her in a medical breakthrough. and a giant storm on saturn. when the cbs evening news continues. continues. i do a lot of research on angie's list before i do any projects on my own. at angie's list, you'll find reviews written by people just like you. i love

new member kristen gray is successful realtor with mba and says the selection process weed out guy who waste her time. >> amy is more old fashioned match mki research and development. it's like tvl researching these people. for the cash strapped. 2500 membership and sore to 20,000 dollars. amy review pictures of each client dream match gets the complete dating history and searches high and low for the one. >> sexy. a little edgey. a little eccentric. >> a little mysterious maybe, >>reporter: for he let members she will have casting call like this one recently at the 4 seasons palo alto. out of hundreds she is may select a few to introduce to her v.i.p. but amy first to say the clients themselves need to ship up in this competitive dating market. >> artfully prepare somewhat we away from the work talk really hopefully genuinely show the interest in who you are out with. >>reporter: george took the advice to heart on his date with kristen. >> never been to london. >> never. >> such an amazing city. >>reporter: he says there was chemistry but not a love connection. so amy went back to the

realtors rate it. there are a lot of reasons why it is not used. >> it is not a lack of awareness of the program, but the fact the program is not fulfilling the needs of people who cannot buy homes anyway if they are homeless or if they are buying a home, there are better deals for them. >> yes. >> what's the interest rate? >> they just lowered it to 3.9%. it is somewhat competitive. a year and a half ago, they were at 5% when the market was 2.5%. there are a lot of things that scare people off. >> they are talking about revising it. what's the plan for their big vamp? >> it sounded to me when i talked to them the only real way to make it attractive is to lower the interest rate. that makes it attractive, but it is still fundamentally not attractive as compared to the private sector and the government-backed loans. you can buy a loan through the california department of veterans affairs with little or no money down if you have decent credit. you can do that with the federal va with the traditional bank

according to the san francisco association of realtors, the median price jumped 31% for a single home it's now $1 million. the median price for a condo, $850,000, and they're getting scooped up within weeks of getting on the market. >> lots of people essentially the tech industry down in silicon valley come up here to the city. >> homes are getting sold thousands of dollars over asking. >> should be anywhere between 7 and 20% over. >> i've heard anywhere up to 100, 200,000 dollars over asking. >> for some properties, abs. >> that's not a guarantee you'll get it. >> not a guarantee. >> improving economy and low interest rates are driving the buyers, but there are not enough homes for sale. >> we're competing with buyers who are all cash, sometimes investors, but i still tell my buyers who are getting the, quote, normal loan, 20% down, go for it. >> and as crazy as the housing market seems, experts say it's not even where it was at its peak back in 2006. that's still good news for the economy. in san francisco, linda yee, kpix 5. >>> here's more proof. the dow was up as much as 218 poin

new member kristen gray is successful realtor with mba and says the selection process weed out guy who waste her time. >> amy is more old fashioned match making service more research and development. it's like tvl researching these people. for the cash strapped. 2500 membership and sore to 20,000 dollars. amy review pictures of each client dream match gets the complete dating history and searches high and low for the one. >> sexy. a little edgey. a a li a little mysterious maybe >>reporter: for he let members she will have casting call like this one recently at the 4 seasons palo alto. out of hundreds she is may select a few to introduce to her v.i.p. but amy first to say the clients themselves need to ship up in this competitive dating market. >> artfully prepare somewhat we away from the work talk and really hopefully genuinely show the interest in who you are out with. >>reporter: george took the advice to heart on his date with kristen. >> never been to london. >> never. >> such an amazing city. >>reporter: he says there was chemistry but not a love connection. so amy went back to