Fed Chairman Says Subprime Mortgage Troubles Contained

The Federal Reserve Chairman Bernanke says the recent mortgage market troubles should not effect the economy as a whole, and remains confident that the economy is strong and growing at a manageable rate. His comments were cautiously optimistic as he testified before Congress. “At this juncture … the impact on the broader economy and financial…
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Consumer Confidence Slips

Consumer confidence weakened in March amid concern about rising gasoline prices and the turmoil in the financial markets due to the subprime lender troubles. Analysts expected a reading of 108, with the actual index coming in at 107. “Seven-month highs in gasoline prices, stock market volatility and the ongoing subprime debacle were the likely factors…
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Builder Woes Continue

The U.S. Census Bureau reported that national new home sales in February were down over 18% from last February, and down almost 4% from January. Obviously, the struggles for new home builders are continuing, and new home sales will certainly be impacted by the tighter lender underwriting requirements as a result of the subprime lender…
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National Resale Home Sales Up in February

The National Association of Realtors released their February statistics on the resale housing market, and it showed a sharp 3.9% increase over January, surprising some analysts. January showed a sharp increase over December, and many analysts expected resale sales to drop off a bit in February. This certainly mirrors what has been happening in the…
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Contra Costa County, Bay Area Home Sales Drop

Statistics released for February by Dataquick showed that sales activity dropped for the 25th consecutive month in the Bay Area. Contra Costa County sales dropped nearly 20% from last February, which is a new 10 year low. The median home price in February also declined in Contra Costa County by 5%. Alameda County sales were…
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Vasco Road Median … It's About Time

The Contra Costa Times is reporting that Contra Costa County is studying a proposal to erect a concrete median on 5.5 miles of Vasco Road between Livermore and Brentwood. This is clearly one of the most dangerous roads in the East Bay, with accidents and fatalities unfortunately much too common. The proposed cost is approximately…
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Why Homes Here Cost So Much…

I’m tired of talking about bubbles, and sub-primes, and interest rates. The fact is we live in one of the most desirable areas in the country, and sometimes I find myself in awe of what a great area this is, and how lucky I am to live in Pleasanton. I love living here…. It was…
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Inflation Watch – Wholesale prices jump in February

Wholesale prices jumped up 1.3% in February, a strong increase more than twice what analysts had expected. Energy prices have risen sharply in the past few weeks, with gasoline now selling for well over $3.00 per gallon. This will likely eliminate any chance of the Federal Reserve lowering the Federal Funds rate in the near…
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Mountain Lion Spotted in Pleasanton

A mountain lion was spotted yesterday near Valley View elementary school in Pleasanton at about 3:00 in the afternoon, close to the time when school gets out. It was reportedly spotted by a city parks employee. According to the employee, it was likely global warming caused this poor mountain lion to roam the streets of…
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California Still the Place to Be (and it will cost you)

Amidst the optimism of the early spring rebound in the Pleasanton and Tri-Valley markets there remains some powerful economic factors that are problematic. Perhaps the biggest long term factor is affordability. The fact remains that California is the least affordable state in the nation, and some of the statistics are sobering. Take for instance *…
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Subprime Mortgage Lenders and You

So the news is filled these days with the recent (an certainly not unexpected) troubles of the “subprime” lenders. Subprime is not a word for a lousy cut of meat. It is a catagory of mortgage loans made to less than perfect borowers, who normally have some credit issues, or in some cases unsubstantiated income…
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Mixed Results for New Home Sales in January

Statewide new home sales were up 9.4% in January as compared to December 2006, but down by 18.6% as compared with January of last year according to the California Building Industry Association. Median prices, however, were essentially the same as December, but up 2.2% from January of last year. Builders, who began controlling releases and…
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