Mortgage Update – Good News from the Street

If you just read or listen to the national media, you would think that getting a mortgage loan today is a lot like getting audited by the IRS… a painful, nerve racking experience that inevitably leaves you poorer. But there is good news in the Pleasanton and Tri-Valley CA mortgage market. The lending environment has…
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Coffee Wars

By now you have probably wondered what they are building on Valley Ave at the Hopyard Rd intersection in Pleasanton, CA. It used to be a drive through bank branch with those weird air tubes that shoot your money to the teller… kind of like something out of the movie Bananas by Woody Allen. Well,…
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Merritt Property Development Proposed

The Merrit Property, a highly desirable 46 acre parcel located on Foothill Road in Pleasanton, looks like it will have another development proposal submitted in the near future. Ponderosa Homes, who has built several subdivisions in Pleasanton, along with the Merritt family and DeSilva Group, are seeking input on their preliminary development plan from the…
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Oak Grove Project Wins Approval

The Pleasanton City Council approved the contentious Oak Grove project East of Kottinger Ranch Tuesday night. The project, which will feature 51 custom lots, and ultimately custom homes from 6000 to 12,000 sq ft in the hills above Kottinger Ranch. The city gets almost 500 acres of open space, along with $1 million in traffic…
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Is the Worst Behind Us???

Interesting day for the financial markets, and the Plesanton and Tri-Valley real estate markets. The Dow Jones Industrial Average climbed above 14,000 today as the stock market rallied to a record high. According to Bloomberg.com: …investors speculated the worst may be over for banks and construction companies hurt by subprime mortgage losses Lennar Corp. and…
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Pleasanton Market Update – Sales, Inventory down

The numbers are in for the Pleasanton CA real estate market in September, and yes sales were down for the month as compared with last month. It continued the downward trend in pending sales since June, which had 67 pending sales. September ended at 36 pending sales for the month. Inventory also edged down, ending…
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That Awkward Age

If you are like me, you know subconsciously that you are getting older, but it is generally not something you think about every day. Days, weeks, months go by, and then one day, perhaps after viewing photos from a family event or some social gathering, you are confronted with undeniable evidence that even Phil Spector’s…
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When the Going Gets Tough…

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 level of…
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Let's Hope Bernanke is a Good Driver

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 is…
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Everyone Loves a Sale!

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 fanfare, I…
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Pleasanton Market Mid-Sept Update

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 sales activity…
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Pleasanton Ridge Open Space Expansion

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 bordering…
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