THE ENGEL TIMES (July/August 2010)

WHERE DO WE GO FROM HERE?

The Real Estate Market in the Near Term:

Our take on it is that it all depends on…jobs.

Affordability is the driving force impacting home prices right now. If in the East Bay’s economic future, employers start hiring, (and paying competitive salaries), then demand for homes will continue and strengthen.

Having to forecast based on current conditions, our expectation is that values will stay pretty much where they are now, with a possibility of lowering somewhat further. We are currently transferring ownership at mid-2002 price points.

Depressed sales are accounting for:

SHORT SALES                     REOS [BANK OWNED]

LIVERMORE                                                         27.83%                                 18.26%

PLEASANTON                                                      13.82%                                   5.69%

Please contact us for any specific data you may require as to your particular situation and location.

CURRENT INTEREST RATES

Conforming (up to $417,000)

15 year fixed

3.875% at zero points

4.00% at no cost

30 year fixed

4.3750% at zero points

4.5% at no cost

Rate Information (as of 7/16/10) Provided By:

Rusty Anderson
Emery Financial, Inc.

rusty@emeryfinancial.com

OUR BLOG

Please visit our Blog www.TheEngels.com for Current Listings, Market Activity in Your Neighborhood, Interest Rates, and Valuable Market Updates!

Become a Fan on Facebook! http://www.facebook.com/EngelRealEstate

BACK TO SCHOOL!

As we start thinking about Fall and Back to School, here are some resources that you may find valuable!

For School Scores (Academic Performance Index Scores):

(Pleasanton)  http://www.pleasanton.k12.ca.us/PublicInformation/PressReleases.cfm

(Livermore)  http://www.livermoreschools.com/cms/page_view?d=x&piid=&vpid=1228578823365

(Other Areas) http://www.cde.ca.gov/ta/ac/ap/

For School Boundaries:

(Pleasanton)  http://www.pleasanton.k12.ca.us/educationalservices/pupilservices/AttendanceArea.cfm

(Livermore)  http://www.livermoreschools.com/cms/page_view?d=x&piid=&vpid=1228578823332

Related posts:

1. Market Update! (June 2010)
2. Market Update/Rates are still Good! (May 2010)
3. September 2009 Market Update

Your Neighborhood Real Estate Market Update! (Pleasanton/”The Meadows” & Expanding Area) June 2010
ACTIVE Address Listing Price SqFt Bed Bath DOM Royalton Ct. $675,000 1941 3 3 5 Mendenhall Ct. $689,000 1586 3 2.5 20 Chippendale Ct. $714,900 2600 3 2.5 214 W Las Positas Blvd. $719,000 1941 4 3 25 Fairlands Dr. $724,950 2540 4 3 67 Cheshire Ct. $725,000 2150 4 2.5 40 Ascot Ct. $725,000 2144 4 2.5 54 Churchill Dr. $759,950 2572 5 2.5 32 PENDING Address Listing Price SqFt Bed Bath DOM Staples Ranch Dr. $599,000 1588 3 2.5 11 Ballantyne Dr. $699,950 2142 4 2.5 35 W Las Positas Blvd. $649,000 1721 4 2 12 Vermont Pl. $650,000 1881 3 2 20 W Las Positas Blvd. $680,000 1941 4 3 5 Byron Ct. $699,000 1933 3 2 3 Kirkcaldy St. $719,000 1802 4 2 14 Ballantyne Dr. $759,000 2464 4 2.5 10 Suffolk Way $749,950 2071 3 3 33 SOLD Address Listing Price Sold Price SqFt Bed Bath DOM 3768 Pimlico Dr. $698,000 $695,000 2369 4 3 29 3319 Guthrie Ct. $799,950 $795,000 2464 4 2.5 10 Share and Enjoy:

Related posts:

1. Your Neighborhood Market Activity! (South Livermore)
2. Tri-Valley Market Update! (July/August 2010)
3. Market Update! (June 2010)

Your Neighborhood Real Estate Market Update! (South Livermore & Expanding Area) July 2010
ACTIVE Address Listing Price SqFt Bed Bath DOM Rosewood Ct. $745,000 2821 3 3 1 Faltings Ct. $780,000 3687 4 4 13 San Minete Dr. $842,900 3619 4 3.5 18 Vine Court $848,000 2980 3 3 36 Grape Leaf Ln. $849,950 3575 4 3.5 39 Traviso Cir. $850,000 3573 5 3.5 55 Calibria Ct. $889,900 3732 4 3.5 19 Vetta Dr. $919,950 3837 5 5 60 Campo Ct. $959,000 3532 5 4.5 32 Wood Hollow Dr. $985,000 3345 5 3 11 Vintage Ln. $1,225,000 5012 5 4.5 65 Saratoga Ct. $1,475,000 4479 4 4.5 132 PENDING (22 in all of South Livermore) Address Listing Price SqFt Bed Bath DOM Bertolli Dr. $875,000 3776 5 4.5 20 Lexington Way $878,000 3491 6 4.5 26 Old Oak Rd. $899,000 2874 3 2.5 26 Bertolli Dr. $899,950 3527 4 3.5 9 Talinga Dr. $909,000 4156 4 3.5 12 Louvre Ln. $979,000 2850 4 2.5 22 Lusitana Dr. $999,000 5000 6 5.5 7 Talinga Dr. $1,100,000 4400 5 4.5 1 Belmont Ct. $1,420,000 5051 6 5.5 13 SOLD Address Listing Price Sold Price SqFt Bed Bath 2681 Rivers Bnd Cir. $742,978 $742,978 1858 3 2.5 176 Prato Way $757,105 $778,000 3325 5 3 309 Old Oak Rd. $830,000 $830,000 2850 4 3.5 2701 Vernazza Dr. $879,000 $844,000 2800 4 2.5 2996 Danielle Ln. $1,250,000 $1,210,000 4479 5 4.5 Share and Enjoy:

Related posts:

1. Your Neighborhood Market Activity (Pleasanton/”The Meadows”)
2. Market Update! (June 2010)
3. Tri-Valley Market Update! (July/August 2010)

Realizing your home is one of the largest investments you will ever make, we believe keeping you informed about current market trends and values is one of the greatest services we can provide. Should you have any questions regarding any of the information contained herein, or would like to discuss the value of your property, please don’t hesitate to call us for a No Charge Consultation.

Right now the housing inventory is low!

This Graph represents homes for sale vs. homes sold over this past year in South Livermore. May 2010 shows that the demand for homes in our area is up! (Clarus Market Metrics)

Current Interest Rates are Fabulous!

30 Year Fixed:  4.59%            15 Year Fixed:  4.08%

(Rates based on $417,000 loan amount.  APR’s based on 1% origination.  Rates & APR’s subject to change.)

Related posts:

1. Tri-Valley Market Update! (July/August 2010)
2. Market Update/Rates are still Good! (May 2010)
3. September 2009 Market Update

With the extremely volatile state of the current  real estate market, it seems wise to contact you and share our view of the local market conditions.  The Tri-valley is, like many other Bay Area communities unique, and what is true in one of those areas may or may not be true here. We do however share in the effects of some of the forces which influence all markets such as the cost of borrowing money, consumer confidence, and the affordability of our homes relative to incomes.

Within the Tri-Valley, there are also differences from one town to another. For instance there are currently 183 single family detached homes for sale in Pleasanton, while in neighboring Livermore there are 387 of those dwellings for sale. So in the two cities of roughly equivalent size, Livermore has twice the inventory of Pleasanton. It is noteworthy that the two cities combined have approximately 50,000 households so 550 homes on the market does not constitute an over supply of homes available for sale. While there has been some deterioration in home values, this area has not experienced the drop in prices seen by the towns to the north and east such as Tracy and Brentwood for example. While the number of homes sold has fallen from the peak,[2005], we sill have the desirability of our neighborhoods  attracting people to this area. Many people still want to purchase a home here and enjoy the benefits, the schools,the parks and recreational amenities which come with living and working in this environment.

It is true that some of the “bank owned’ properties and “short sales” are starting to become more numerous and will have some effect on the comparable sales as we move through 2008. We are going through a period of price corrections, downward from the peak of two to three years ago. However if you purchased a home in say 1999,that home is still worth easily twice the amount you paid then. Real Estate cycles, like all investments go through highs and lows, Long term no investment is as secure, provides as many benefits and performs as well as real estate. We need to take a step back and view the market with a broader perspective and celebrate our good fortune

Cindy and I do a great deal of consulting and counseling with our clients in addition to listing and selling homes and investment properties. If you have any questions at all about your particular and specific real estate situation please call and we will gladly share our combined knowledge and experience with you. In this time of rapidly changing conditions we will do our best to keep you informed with the latest information to best assist your real estate decisions. Thank you for your continued support and friendship.

Sincerely,
Joel and Cindy

Related posts:

1. Investment Opportunities On The Rise!
2. Market Update! (June 2010)
3. Tri-Valley Market Update! (July/August 2010)