According to the Q2 2010 Home Hunter report released a few days ago by ZipRealty, California can claim 91 of the 100 hottest ZIP codes for real estate.

“Hot” is defined as having the highest selling prices as compared to original list prices based on MLS data in 5,400 cities across the nation. In other words, California—and specifically the Bay Area—still leads the nation in buying/selling activity, with an abundance of multiple offers.

The two top California zips—Berkeley’s 94703 and Oakland’s 94621—made the list for entirely different reasons.

The 94703 neighborhood, located near the University of California campus, has remained fairly stable over the last few years. This ZIP features well-maintained homes, convenient retail and employment, and good access to public transit. The average list price was $575,095 and the average sales price was $619,574. Five foreclosures and just one short sale were reported.

East Oakland’s 94621, on the other had, has seen home values fall dramatically since 2007. Located around the Coliseum and Oakland International Airport, this ZIP had an average list price is $106,893 with a sales price of $113,236. Many of the sales are all cash, according to the San Francisco Chronicle, which could indicate bargain hunting by investors (a good sign for the health of the market). ZipRealty reports 62 foreclosures and 23 short sales.

Other hot Bay Area zips in the top 10?
Oakland    94603
San Jose    95122
Rodeo        94572
San Jose    95111

There is some speculation that the expiring federal tax incentives fueled the flurry of buying activity that helped drive prices up, and we’ll be sure and watch for the Q3 results for comparison.  But any increase in activity for whatever reason is good news.

If you’re a first-time homebuyer trying to navigate the maze of affordable housing regulations and opportunities, Homeownership SF feels your pain. This nonprofit has launched a web site that serves as an online resource for affordable housing. Information on workshops, homes, loan qualification and more are aggregated into one engaging site.

According to CBS 5 News, Christi Baker, the founder and executive director of Homeowernship SF, believes more people can qualify to buy than think they can. The purpose of the site, she explains, is to “teach potential buyers exactly what they need to do to be successful.”

A few comments from The Real Story:

• The design and layout of the homepage are reassuring, with a step-by-step guide of the homebuying process.
• The Homes section is a bit confusing, asking you to calculate your AMI without explaining what it is.
• As home shoppers are used to sites such as Trulia and Zillow, the listings would benefit from more photos and information.

All in all, though, it’s a much-needed resource that does a good job of simplifying a very complex process. Take a test drive and tell us what you think.

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John Burns Real Estate Consulting gives all of the housing markets in the country report card style grades to give the industry a sense of how conditions are improving or deteriorating across the board. His latest grade for Affordability is a surprising C—until The Real Story heard that the C is comprised of an A for entry level buyers—great affordability—and an F for existing buyers, because they have no equity in the homes they have purchased in the last five to six years.

If John Burns were rating California markets today, he would give Sacramento high marks—it’s affordable, attractive, has culture, good transportation links and good ties to the Bay Area. The Bay Area and most of Coastal California are making a good recovery, and the Silicon Valley has almost no new housing. Above all, he credits the Irvine Ranch with providing great amenities, employers, schools as well as attractive housing stock—all adding up to a strong recovery in that micro market.

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The Real Story has been talking with Dan O’Brien from Shea Trilogy active adult communities about the impact of the Baby Boomer generation on our view of retirement. According to Dan, this generation is combining a love of travel and a desire for service into programs that he calls “travel with purpose”—whereby active adults with a desire to “give back” travel to Third World countries for the purpose of doing construction, rehabbing buildings, or working in social programs for the betterment of the local citizenry. These trips are long—about four weeks—and provide a very different experience than the cruise ship voyages that were once the staple of senior travel groups.

Closer to home, at Dan’s own Trilogy at the Vineyards in Brentwood, the residents live among 35 acres of vineyards and another 30 of olive groves. The result, of course, is an active group of winemakers, and soon, the first olive oil crush as well. In the foodie-haven of the Bay Area, the attraction of participating in the harvest and processing of both wines and olive oils provides a link between wellness, connection, and exploration—all pillars of the new view of active adult living.

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This week, Dan O’Brien, president of Shea Homes Trilogy communities in Northern California is talking to The Real Story about how the Boomer generation is changing the concept of retirement living. Dan reminds us that earlier retirement living models were based on a scheduling format not unlike a cruise ship—with activities tightly planned and scheduled. The Boomer outlook calls for more flexibility, more choice, and more connection with the world outside of the boundaries of their community.

The Boomers are the first retirement generation adept at using the Internet, making them the most connected retirees in history. How will they redefine retirement through constant interaction with the world that is literally at their fingertips? Stay tuned.

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This week, The Real Story talks with Dan O’Brien, President of Shea Homes’ Trilogy communities in Northern California. The subject? How the Boomer generation is changing the way that “active adult” living is defined—and how the home is just part of the equation.

The Boomer moving out of the family home and into active adult living is turning the conception of “senior housing” on its ear. For one thing, says Dan, only 10 percent of the residents of his Trilogy at the Vineyards community in Brentwood are actually retired. About 50 percent of the residents are still working in their careers; another 40 percent are starting new businesses, pursuing different career or interest paths. “These Boomers are not retiring”, says Dan. “They’re rewiring.”

Coming to Shea Trilogy from a career in homebuilding and active adult community development with Del Webb, Dan says that Shea has had to throw away old conceptions about product and lifestyle and create a series of new paths that involve exploration, including self-improvement, connection, and wellness and well-being. Sounds like a far cry from shuffleboard.

A new segment of Dan’s interview will be posted every day this week; listen here or download them on iTunes.