| | Season's Greetings All My Friends, As 2010 comes to a close, let's review two real estate trends from this past year: affordability and stabilization. Affordability: 2010 marks the year of the lowest mortgage rates in the history of 30-year fixed loans. This trend began in the spring of 2009. The U.S. Department of Housing and Urban Development (HUD) reports that since April 2009 these lower rates have helped more than 8.3 million homeowners refinance. Annual borrower savings are estimated at $15.2 billion. Stabilization: Prices are stable and even on the rise in some areas. According to HUD's web info at www.hud.gov/scorecard, the latest housing figures confirm continued signs of stabilization. To avoid foreclosures in depressed areas around the country, more than 3.73 million loan modifications took place between April 2009 and August 2010. Affordability + Stabilization + more buyers = rising prices: Lawrence Yun, Chief Economist for the National Association of Realtors, predicts an upswing of sales this spring. Historically, more single people buy in the fall and winter months, while more families buy in the spring and summer. There are some great opportunities in real estate right now in our area. As we enter the holiday season, know that I am here to help you or your friends with any real estate questions or needs. | |  PENDING, 2027 Ellington Terrace, Pleasant Hill, CA 94523 - $380,000
Beautiful setting. Move in condition. Updated including recessed lighting, dual pane windows, flooring, paint & crown moulding. Dining room, breakfast bar, pantry, & good size kitchen make eating a delight. Vaulted ceiling, recessed lighting & classy fireplace makes relaxing easy. |  SOLD, 68 Oakmont Ave, Peidmont, CA 94610 - $1,080,000
This elegant home features a lovely country kitchen, new appliances and an inviting breakfast room. There are three large bedrooms on street level. Hardwood floors, plantation shutters, 2 fireplaces. A large family room or guest unit on lower level lead to Garden Patio & Double Garage. |  PENDING, 1913 Meadow Road, Walnut Creek, CA 94595 - $565,000
Great house for large family or someone who wants a hobby room and office. Low maintenance yard. Wonderfully updated home. Award Winning Acalanes & Walnut Creek school district. Great comute location. | Q: Is another housing bubble possible in the upcoming future? A: A bubble results from what economists call "pent up demand" - A surge in spending after a period of economic decline. There are many buyers in our area who are interested in moving into a more appropriate home, and many who have the means to do so. And, while I think that this spring we will see increased sales, I do not foresee another housing bubble in the next year. The good news is that in my core market, the 24/680 Corridor, we currently have 4.7 months of inventory, less than half the national average. Our local area is tending to feel more stable. Two of the main factors that would jumpstart a spurt of sales are an increase in job creation and the loosening of credit availability. Mortgage rates are low as I have mentioned, but the number of buyers who can access mortgages is fewer due to new stringent lending rules. I work closely with excellent mortgage lenders and can help you take advantage of this market when you are ready. Let me know if you have any questions. A holiday past-time I've enjoyed is meeting up with friends or family after dark, bundling up in warm clothes, and going for a drive or walk down some of the local streets known for houses decked in bright lights and taking in the show, then heading back home for hot cocoa. It's one of those simple pleasures that brings loved ones together and only happens during the holiday season. Of course with the internet, if you don't know of local light displays in your town, you can search for them on the web. It's a cinch to locate a light show in your town. And the homeowners are happy for the publicity. With all the work they put into bedecking their homes and yards, they want an audience! Just go to your favorite search engine (Google, Bing, Yahoo, etc...) and search for "Christmas lights map," or just "Christmas lights," followed by your town or the nearest major metropolitan area for a list of sites that will give directions to your local light show. Enjoy the season! In December, real estate slows while people turn their attention to their family traditions. I decided to research how traditions vary around the globe. Here are a few December traditions that you may find interesting. In Sweden, the height of the Christmas celebrations is December 24th on Christmas Eve. Their Christmas feast, otherwise known as the famous Swedish Smorgasbord, features ham, pickled herring, and rice porridge. According to legend, anyone who finds a whole almond in his or her porridge will be married within the year. In Israel, the Jewish holiday of Hanukkah (or Festival of Lights) is most widely celebrated. According to the Jewish Talmud, when the Jewish people regained control of the Holy Temple of Jerusalem, there was only enough consecrated oil to fuel the eternal flame in the Temple for one day. Miraculously, the oil continued to burn for eight days. Hanukkah is a special time for families to celebrate the festivities of joy and thanksgiving. In Venezuela, Christmas festivities celebrate the birth of the baby Jesus. Venezuelans often display the Pacebre, or Nativity scene. On December 25 children awake to find their gifts around the Christmas tree. Tradition has it that it is the Child Jesus who brings gifts to the Venezuelan children instead of Santa Claus. Throughout the world, people celebrate by gathering for meals. Whether your holiday meal includes turkey, ham, pickled herring or other traditional favorites, I hope you can look around the table and share your blessings with those you love. | |
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