Forecasts, Predictions, and Bets

I guess that seals it. The National Association of Realtors, otherwise known as the National Association of Real Estate Optimists, is forecasting a nationwide decline in the median price of resale homes of .7% this year (that’s .7%, not 7%, or 70%). The California Association of Realtors is predicting a 2% decline in resale home…

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More Mortgage Troubles

Ok, so by now you know what sub-prime loans are. Now the default rate has risen on the next level of loans, the so-called Alt-A loans. Basically, “A” paper loans are standard, traditional loans with normal underwriting made to borrowers with good credit, strong income, and stable employment. Alt-A loans are the next level. They…

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Jobs, Jobs & More Jobs

The U.S. economy added 180,000 jobs in March, dropping the national unemployment rate to 4.4%, which is a 5 year low. This is certainly welcome news for the national economy, which has been struggling with a real estate slump. Wages were also up, registering a solid 4% increase over March of last year. “For most…

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Nationwide Pending Sales Up in February

This is not a surprise to anyone who has been following the real estate market in Pleasanton, Dublin, Livermore, and San Ramon. The National Association of Realtors reported that pending sales of existing homes rose .7% in February as compared to January, and the index came in at a higher level than analysts expected. Jon…

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Stick to Comedy Rosie

Okay. I admit it. I am not a huge Rosie O’Donnel fan. I have liked some of her stand up work, and her bit parts in movies seemed to be above average. But why comedians, and actors, and musicians feel compelled to share their political views is beyond me. Generally, they just end up looking…

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Just In: Walnut Creek (median) Home Prices drop 25%!

This from the Contra Costa Times today: East Bay cities such as Berkeley, Brentwood, Clayton and Walnut Creek experienced a nearly 25 percent drop in median home prices from February of last year. Walnut Creek’s median home sales price dropped to $519,000, according to DataQuick Information Systems, making it lower than the median home price…

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Pleasanton Market Update… Still Going

The early Spring real estate market continues to show some strength, although inventory is surging in all price brackets. Pent-up demand from buyers who decided to sit last year’s market out hoping for lower prices continued to propel the market in March, although sales did dip some from the frantic pace of February. Overall, inventory…

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LeBron's Crib

LeBron James, the twenty something multi-millionaire pro basketball player, is building a home in the suburbs of Cleveland… a 35,000 square foot house on 5.6 acres. It will contain, among other things, a theatre, bowling alley, casino, and barber shop. The Cleveland Cavaliers All-Star and Akron native, whose stated goal is to be the world’s…

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Drought Update – Water content down, but resevoirs full

Water officials report that the water content for the Sierra snowpack was well below normal, coming in at levels not seen since the last drought year of 1990. The water content came in at less than 50% of normal. Fortunately, the reservoir levels are full thanks to a very wet winter last year. Blame the…

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Tri-Valley Market Trends

A look around the Tri-Valley resale market in February shows continued early spring strength. Market activity heated up in January and February, and overall sales in Livermore, Dublin, San Ramon and Danville were strong. In Livermore, inventory slid somewhat lower than January, ending the month at 230 single family homes for sale. This was down…

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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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