Economic News…was light in this holiday shortened trading week. Weekly Jobless Claims and Industrial Production were, for the most part, inline with estimates. Reporting next week should provide a little more direction as to the near-term momentum of interest rates. In the past year and a half we have experienced a “white hot” real estate market in the Bay Area. While there are some signs of cooling with higher mortgage rates, market conditions continue to remain in favor of the seller but is there a change coming? … [Read more...]
Tri-Valley Mortgage & Market Update for October 25th
Economic News…for the week supported the notion that the FED will most likely stay put with their current economic policy. Weekly Jobless Claims are still running higher than desired with the four week moving average 40K above September numbers. Consumer Sentiment revealed a dimmer view of current economic expectations. While Existing Home Sales have calmed a bit pricing continues to increase and the Western Region led the country. A bit of good news this week for the real estate industry was that maximum loan … [Read more...]
Tri-Valley Mortgage & Market Update for Oct 5th
Economic News…for this week can be summed up in one word...Delayed”. Reports on Construction Spending, Factory Orders and the Employment Situation were not released due to the partial government shutdown. Up to this point lending has not been dramatically affected but if the impasse continues problems could arise. Social security number verification as well as the ability to pull tax transcripts (4506) could prove to be problems for mortgage lending down the road. It will be very important over the next few weeks … [Read more...]
Tri-Valley Mortgage & Market Update for August 23rd
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 & Market Update for August 9th
Economic News...was light for the week. Manufacturing and Employment data met expectations. Even though the market was calm, news in the mortgage world was more robust. Several cities have investigated the use of Eminent Domain to seize underwater mortgages within their jurisdiction, modify the terms of the loans and then resell them. While this sounds like a worthy goal there may be a backlash from those willing to lend in these areas in the future. Just in the last few weeks Richmond, CA has moved further than … [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...]
24124 Zorro Court in Hayward
24124 Zorro Court is a cute home in a cul-de-sac location in the Fairview area of the Hayward Hills. This two bedroom one bath home enjoys a generous sized yard which affords comfortable outdoor living/entertaining. Improvements made in the past include dual-pane windows, flooring and kitchen design. Lots of potential here! This Short Sale received multiple offers in days. A 1st trust deed with Capital One and a 2nd trust deed with PNC Bank were negotiated successfully in under 90 days. Information updated … [Read more...]
2013 Woodranch Garage Sale in the Rear View Mirror…
Well the 2013 Woodranch Garage Sale has come and gone and I just wanted to say that it was my pleasure sponsoring and promoting the event for the 3rd consecutive year. Everyone always has a different experience with the sale but this year there seemed to be a general consensus that the seller’s did better than last year. I certainly enjoyed my time walking through the neighborhood and chatting with those who had their “doors up” and were selling many items they no longer needed. Hopefully the buyers will enjoy … [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...]
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