MortgagesDeal or No Deal: Walnut Creek on the CheapClick HERE for the results of this Deal or No Deal. Nestled in the heart of Ignacio Valley, Walnut Creek is the heart of the Contra Costa County economy. During the dotcom boom, tech companies of all stripes opened offices downtown, as the skyline grew and housing developments began to dot the hillsides. (click on [...] Deal or No Deal RESULTS: Belmont Views for Under $700kCirios Verdict: NO DEAL (Click here for the original Deal or No Deal post) The subject is an updated home in the hills of Belmont, CA. The home has an updated kitchen and two updated bathrooms. The backyard sits on the side of a hill but it has been tiered, which makes it significantly more [...] Housing Perspective: July Homebuilder SentimentThings are looking up for US homebuilders — or at least they think so. The National Association of Homebuilders/Wells Fargo Housing Market Index registered a 17 this month, its highest level since September of last year. The measure jumped from 15 in June, after hitting a low this past March of a measly 9. Anything [...] CIT Puts “Too Big to Fail” to the TestThis post first appeared on Minyanville. We have truly become a bailout nation. As regulators mull over the possibility of rescuing CIT Group (CIT) — a small-business lender that counts over 1 million US firms as customers — analysts debate whether the relatively small firm is deserving of a taxpayer-funded bailout. Or for that matter, [...] Why Should I Care: Real Estate & Price DiscoveryBy ANDREW JEFFERY This post first appeared on Minyanville. Price discovery. It sounds simple enough, right? If you separate out its component parts, you have “price” — the amount buyers are willing to pay and sellers are willing to accept — and “discovery” — the uncovering of that price. But price discovery — a term [...] Housing Perspective: May Pending Home SalesDespite markedly higher interest rates and problematic new appraisal guidelines, homebuyers are still stepping back into the market. The National Association of Realtors said yesterday that pending home sales, which measure new purchase contracts signed, rose in May for the fourth consecutive month. According to Bloomberg, the 0.1% gain from the prior month barely edged [...] Housing Perspective: April Case Shiller Home Price IndexThis morning, the S&P Case/Shiller Home Price Index, which measures prices in 20 US metropolitan regions, registered an 18.1% decline in prices. And for as bad as this sounds, its actually the best reading in 6 months. According to Bloomberg, one of the index’s designers, Yale economist Robert Shiller said he saw “striking improvement in [...] Deal or No Deal RESULTS: Golf Retreat With a TwistCirios Verdict: NO DEAL (Click here for the original Deal or No Deal post) The subject is a unique home in a small golf community in the Santa Cruz mountains. The property would likely only attract buyers who have already visited the community or are current residents. The home only has two bedrooms which we [...] Legislators Look to Expand New Home Tax CreditsCalifornia may be broke, but that isn’t stopping legislators from trying to give away more money to try and save our swooning housing market. Qualified buyers of new homes in California can currently receive a $10,000 tax credit for purchasing a newly constructed home. The program, originally capped at $100 million and set to tun [...] Housing Perspective: May New Home SalesSales of new homes dropped in May, surprising analysis who had expected a continued strengthening in US housing market data. According to Bloomberg, transactions fell 0.6% from April, but median prices decreased by just 3.4% from last year. This compares to a much bigger 17% year-over-year decline in existing home prices, as reported yesterday. Data [...] Housing Perspective: May Existing Home SalesHome sales in May rose from April, the second straightly monthly increase. According to the National Association of Realtors, or NAR, purchases crept up 2.4% from the prior month, which was less than 3.0% analysis were expecting. Prices continued their decline, falling 17% from a year ago, dragged down by distressed sales. As readers of [...] Higher Rates Strangle Mortgage MarketThe Mortgage Bankers Association, an industry trade group, dramatically cut its forecast for 2009 mortgage originations in the US to just over $2 trillion. The new estimate, down a whopping 27% from the March figure, is said to reflect an environment of rising mortgage rates and an increasing share of purchases going to all-cash buyers. [...] Deal or No Deal: Golf Retreat With a TwistA mere 60 minutes outside the bustle of the Bay Area, nestled in redwood groves and winding mountain byways lies the hamlet of Boulder Creek. The town boasts a casual, yet lively downtown where tourists and locals alike check out local coffee shops, restaurants and art galleries. Just outside of town the golfing inclined can [...] Deal or No Deal RESULTS: Anyone for some Hoops?Cirios Verdict: DEAL (Click here for the original Deal or No Deal post) NOTE: This property is now under contract. The subject is an architect designed custom home in the Berkeley hills. It has views of the Golden Gate bridge and boasts a basketball court in the back yard. The numerous decks, rare flat outdoor [...] Deal or No Deal: Anyone for some Hoops?The Berkeley Hills are home to amazing city views, old money and a veritable fleet of Priuses. Oh, and some pretty amazing homes with pretty amazing views. Prices have held up better than most parts of the Bay Area, since the area remains very desirable. Even though affordability isn’t the best in Berkeley, as you [...] Deal or No Deal RESULTS: San Mateo on the MindCirios Verdict: NO DEAL San Mateo is a desirable city that is located within 20 minutes of numerous job centers including San Francisco, Palo Alto and Mountain View. Values have declined at a slow pace over the last three years as the economy started to contract. The subject’s immediate neighborhood is desirable as it is [...] Homebuilders Add New Wing to Housing CrisisThis post first appeared on Minyanville. It appears even the embattled homebuilding industry is getting rosy-eyed, finding enough “green shoots” of economic recovery to stick their shovels back into the ground. In May, US builders broke ground on 17.2% more projects than in April, far exceeding analysts’ expectations. Work on new apartment buildings leaped, while [...] Home of the Day – Livin’ Large in TiburonAddress: 140 Antonette Dr. Tiburon, CA (MLS Listing) List Date: 05/26/2009 Current List Price: $8,500,000 Original List Price: $8,500,000 * 5 bedroom, 5.5 bathroom, 7,123 sqft living area, 1.23 acres * Huge circle drive * At the end of a cul-de-sac, private setting * Agents comments – “Recently compltd w/state-of-the-art technology (inc. elevator … ” [...] Cirios Top Five at Ten – 6/17/09A daily list of the stories YOU should be reading. 5. Even though we dont deserve it (dont try to say we do, we’ve had a negative savings rate for the last ten years), it looks like the US will be keeping our AAA credit rating. 4. The core consumer price index is up a [...] Home of the Day – Casa Bonita in Redwood City?Address: 175 Bonita Ave. Redwood City, CA (MLS Listing) List Date: 03/16/2009 Current List Price: $899,000 Original List Price: $1,029,000 * 4 bedroom, 3 bathroom, 2,650 sqft living area, 7,500 sqft lot * Very good curb appeal * One of the newer homes in the area (21 years old) * Sweet deck in the back [...] Cirios Top Five at Ten – 6/16/09A daily list of the stories YOU should be reading. 5. Finally, I don’t have to pay off my credit card anymore. 4. Exactly what the country needs … more houses. 3. The people that got it right in 2008 are betting on hyperinflation. 2. What exactly is a Bing? 1. Did the lack of [...] Housing Perspective: June Homebuilder SentimentHomebuilders remain cautious, as rising mortgage rates and persistent unemployment weighed on hopes for a speedy recovery in the battered housing market. Today’s National Association of Home Builders/Wells Fargo index of builder confidence fell to 15, down from 16 last month, according to Bloomberg. Analysts expected the reading to come in at 17. The NAHB [...] Companies Compete for Government Cash, Not CustomersThis post first appeared on Minyanville. It’s the government, stupid. As Washington expands its role in managing the day-to-day operations of American business, companies are increasingly turning their strategic focus to tapping federal cash and lending programs. And despite the strings often attached to government money, many are finding that Uncle Sam is the only [...] Home of the Day: Another Berkeley RenovationAddress: 1518 Woolsey St., Berkeley, CA (MLS Listing) List Date: 06/10/2009 Current List Price: $425,000 Original List Price: $425,000 * 2 bedroom, 2 bathroom, 1,035 sqft living area, 4,296 sqft lot * Recently remodeled, close to Ashyby BART * Move-in ready home, affordable * Looks like the landscaping leaves a little to be desired, no [...] |