Economic News…was positive to start the week and mortgage rates continued to move higher. The last two major reports of the week reversed this trend and gave a much needed relief to interest rates which have been flirting with two year highs. Existing Home Sales for July posted a significant increase in all four US regions. The minutes from the Federal Open Market Committee confirmed the consensus that a wind down to quantitative easing is in the works. The market was calmed somewhat with the FED noting that it … [Read more...]
Tri-Valley Mortgage and Market Update for 8.2.13
Economic News...We knew this week was going to be volatile for mortgage rates due to the importance of the data on tap. This situation was summed up perfectly in a Mortgage News Daily update which equated the behavior of the bond market to that old game of French origin utilizing an oxeye daisy. “He(She) loves me...He(She) loves me not.” Wednesday, Thursday and Friday provided news that would shift the bond market dramatically in either direction. When yesterday came to a close all eyes were fixed on the Employment … [Read more...]
1530 Colchester Street in Danville
1530 Colchester Street is a beautiful home located in the Vercelli area of the Monterosso neighborhood in Danville. This executive residence features approximately 3242 Square Feet, 5 Bedrooms, 4 Bathrooms as well as a Bonus Room. The flexible floor plan also includes a main level Bedroom with Full Bath. Distinctive features are abundant throughout and include: Gourmet Kitchen Features: Granite Counters with Bullnose Edge 36" GE Monogram Professional Gas Cooktop w/ Designer Vented Hood 30" Oven Below … [Read more...]
Tri-Valley Mortgage and Market Update
Economic News...this week had all the attributes of a mid-summer day meaning not much was going on. Existing Home Sales for June decreased more than anticipated. Rising mortgage rates and tight inventory were credited with the decline. On the other hand, New Home Sales cruised past estimates. Durable Goods Orders were robust but the gains were almost entirely due to the aircraft sector. Weekly Jobless Claims continue to tread water in the 340K to 350K range. The view from the consumer’s perspective continues to … [Read more...]
Getting to Know Danville – The Neighborhoods
The next phase of “Life in Danville” is upon us. After two and a half years of planning the Danville 2030 General Plan has been adopted and “Expresses the visions and goals of the Danville Citizens for the future of our community”. I moved to Danville from Colorado with my family in 1974. It was a sleepy little town then and even as it has grown many have strived to keep that “small town” feel. My memories of watching the town expand run deep. I attended Montair Elementary, Charlotte Wood Middle School(in its old … [Read more...]
Tri-Valley Mortgage & Market Update for May 17th
Mortgage and Market Update Economic News...Back to a week of mixed data but the Stock Market continues to pretty much ignore negative news and move higher. This run to new highs has left mortgage rates under continued pressure. Retail Sales, while not robust, did show signs that the consumer is feeling more comfortable spending on discretionary items. The manufacturing sector contracted a bit in April with both production and capacity utilization easing. Weekly Jobless Claims jumped unexpectedly to 360K after being … [Read more...]
Tri-Valley Mortgage & Market Update for April 19th
Economic News...was light for the week but there was some on the housing sector and mortgage rates remained virtually unchanged from last week. The Housing Market Index was lower reflecting weaker conditions in the Northeast and South. The West led the way. Housing Starts were robust with the multi-family component making up the majority of the gains. Now....news on the California Housing Market courtesy of CAR....Home prices have reached the highest level since May of 2008. The median price in March was $333,380 … [Read more...]
Blackhawk Country Club Real Estate Report
Well the first quarter of 2013 is over so it is time to take a look at how the real estate market in Blackhawk Country Club performed versus the same period a year ago. Blackhawk Country Club real estate is very active right now but that does not reveal itself in the number of homes sold (24 last year compared to 25 this year). Inventory levels have been on the decline all over the Bay Area which has prices increasing as well as a reduction in the number of days it takes to get a home into escrow. In 2013 the … [Read more...]
Tri-Valley Mortgage & Market Update for March 8th
Economic News...The stock market continues to roll on with the Dow Jones making new highs (four in a row this week). While the growth of equities is good news for the consumer and market in general, it traditionally comes at a cost to the debt markets. This morning’s Employment Situation report was “icing on the cake” for traders and has sent mortgage rates higher. Weekly Jobless Claims also continued to move lower and once again beat estimates. There was an interesting article in last week’s New York Times which … [Read more...]
680 Corridor Real Estate Watch
Wow...That is all I can really say about the current happenings in the 680 Corridor Real Estate Market. From Dublin to San Ramon, Danville to Blackhawk and Alamo to Walnut Creek 2013 Real Estate has started off sizzling...Just this week two homes I know of with 16 offers, a condo with 30 and numerous other properties with multiple offers are causing excitement for home sellers and frustration for home buyers. From a seller's perspective this is welcome news but with it comes a bit of confusion. Marketing times on … [Read more...]
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