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 & 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...]
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...]
San Ramon & Dublin 2012 Real Estate Market Watch
The Real Estate Market in Dublin and San Ramon certainly enjoyed an active 2012. The entire 680 Corridor Real Estate Market seemed to come alive at the end of the first quarter. Those of us on the front lines experienced the changes in advance of what would be more positive reporting on the state of the local housing markets as the year went on. The performance of Dublin and San Ramon will be the first two markets I focus on followed by: Danville, Blackhawk, Diablo, Alamo and Walnut Creek. Single Family home sales … [Read more...]
680 Corridor Mortgage & Market Update
Mortgage and Market Update for May 18th Economic News: The situation in Greece is again stressing global markets but here in the U.S. the big news is the Initial Public Offering of Facebook. The Bay Area has been on a bit of a roll lately as have our local real estate markets. Listing agents are reviewing multiple offers with sellers while buyer agents are working harder than ever to serve their clients needs. In spite of generally positive news on the US Economy the stock market was under pressure most of the … [Read more...]
San Ramon Valley Real Estate Inventory Update Spring 2012
The real estate market in the 680 Corridor has been “abuzz” with a lot of chatter regarding inventory, lots of buyers and multiple offers. I decided to take a look at the inventory of homes for sale at the end of April for 2012 versus 2011 in the areas of: Alamo, Blackhawk, Danville, San Ramon and Walnut Creek. After reviewing these statistics the “buzz” certainly seems warranted. I will continue to monitor the inventory levels through the spring / summer and report the findings back here. As always, if you … [Read more...]
February Real Estate Review for San Ramon
Spring is in the air and the home buyers are out in San Ramon. Let's review the San Ramon Real Estate Market first two months of 2012 versus the same period of 2011. The pace of single family home sales is very similar to 2011 and we have seen a slight "pop" in median price. The real standout is the dramatic increase in attached home sales. In both segments we have seen a decline in the time it takes to get a home into escrow. Things are busy out there right now and we are seeing a lot of multiple offer scenarios … [Read more...]
January Real Estate Review for San Ramon
As February, and a leap year one to boot, comes to a close let's look at what happened in the San Ramon real estate market in January. Although fewer single family homes sold in January versus a year ago pricing remains flat and the time to get a home into escrow has fallen. The attached home market started the year off with a bang in number of units sold but these were predominately on the lower end which has brought the median price down. As with the single family segment marketing times have come down. At this … [Read more...]
2011 Real Estate Review for San Ramon
2011 is behind us and here is a look at how the San Ramon Real Estate Market performed compared to 2010. We can see that both the single family home component as well as condominiums and townhouses enjoyed gains in unit sales over the prior year. The time to get a home into escrow increased slightly from 2010 but is still very good at just over forty days. The divergence comes in the median home price. Single family homes showed a modest decrease at just over two and a half percent while the median price of … [Read more...]
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