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More bad news this week on the real estate and mortgage markets. It looks like sales of homes in California were down 28% in August as compared with August 2006. Not to be outdone, new home sales data shows that sales dropped 8.3% in August from the already depressed July levels, the lowest …
So hot off the heals of the Fed’s lowering of the Discount Rate by 50 basis points (.5%), there was great optimism that this would give a shot in the arm to the struggling housing market. Much of the population, including many realtors, assume that the Fed has lowered Mortgage Rates, and that it …
It looks like some major home builders are starting to run “Sales” to generate interest in their subdivisions. This is not a new tactic, but it certainly is an indication that things are not well in the new home market. First there was Hovnanian Enterprises, who last weekend announced (with much publicity and …
The Pleasanton CA real estate market continued to limp along in the first half of September, with inventory dipping slightly, but sales off fairly sharply from August levels. Overall, available inventory of single family homes stood at 217 at the middle of September, down slightly from 220 at the end of August. Pending …
The East Bay Regional Park Distirict has announced a plan to add almost 1500 acres to the Pleasanton Ridge Regional Park. With a generous donation from Curtis Priem of Fremont, who is contributing $1.75 million to the total purchase price of $6.63 million, the Pleasanton Ridge Park will add a vital piece of land …
It’s usually good to be first, but for Stocton, the news is not good. Stockton was just named the foreclosure capital of the U.S., with the highest foreclosure rate of any U.S. city. There have been 8000 foreclosures year to date. There are currently 2800 homes on the market in Stockton, a …
There is more and more talk about the Federal Reserve Board lowering the key Federal Funds rate, as early as next week, as pressure builds for the Fed to take action to help offset the damaging effects of the credit crisis. Adding to this pressure is last week’s national jobs report, which showed that …
I get asked a lot about the local Pleasanton, Dublin & Tri-Valley real estate market, and how long this slump is going to last. In my opinion, I see the current slump lasting a while longer. In 1989, when I started selling real estate, the market peaked after strong appreciation in the late …
The August numbers are in for the Pleasanton real estate market, and the market has definitely slowed. The available inventory of single family homes ended the month at 220, up from 206 at the end of July. Fortunately, this is still relatively low given the circumstances, and the fact that inventory has remained …
As we come up on the 6th anniversary of Sept 11th, I would like to take a moment to remember one of the heros of flight 93, Tom Burnett. Tom was 38 years old on that day, and along with many other brave souls, fought back valiantly under extraordinary circumstances. Tom left behind …
Okay, with all of this bad news on the Pleasanton, Tri-Valley, and California real estate market, you would think that most sellers got the memo that things have changed. Apparently, there are still some sellers who think it is still 2005, and that none of these things effect them. Because I am “the …
Interesting article in the Contra Costa Times about Mountain House, the new community East of Livermore on the Altamont Pass. Major builders, including Lennar, Pulte, Centex, and Shea Homes, invested millions in insfrastructure, roads, schools, and parks to literally create a new city that would cater to East Bay and Silicon Valley workers searching …
The city of San Ramon voted to extend the review period for the proposed new City Center complex on Bollinger Canyon Rd and Camino Ramon. The extension was granted in order to allow for more time to review the 700 plus page environmental impact report.
Six “significant unavoidable impacts” related to the project …
So the news about real estate is mostly bad… well okay, it’s all bad lately. The media is piling on the real estate market like a WWF wrestler on steroids. So I thought it might be interesting to revisit what the media has said in the past about real estate.
“The prices …