Housing Starts Stay Strong; More Permits to build- Look out Home buyers in San Ramon

February 22, 2012 By

Single-family housing starts

The housing market has carried forward its year-end momentum.

According to the Census Bureau, on a seasonally-adjusted, annualized basis, January’s Single-Family Housing Starts crossed the half-million unit marker for the second straight month.

Housing Momentum Increases

This hasn’t happened in close to 2 years and is the latest in a series of strong data that suggests the beleaguered housing market has turned a corner — both nationally and locally in Pleasanton and throughout the Tri-valley.

Although single-family starts slipped 1 percent from December, January’s annualized 508,000 figure represents a 16% spike from January 2011 and is the second-highest reading since April 2010 — the last month of 2010′s federal home buyer tax credit program.

A “housing start” is a new home on which construction has started.

The strength of January’s Housing Starts data surprised Wall Street analysts and is partially responsible for last Thursday’s unexpected mortgage rate spike.

In hindsight, though, we should have seen this coming.

Earlier in the week, the National Association of Homebuilders announced that homebuilder confidence had climbed to its highest point since 2007 amid builder reports of rising sales volume and the most foot traffic from buyers in more than 4 years.

In addition, builders expect to sell more homes in 2012 than in 2011.

Builders are building and buyers are buying

Meanwhile, as another sign of housing market strength, the Census Bureau reports that, in January, Building Permits moved to a multi-year high as well. Permits issued for single-family homes in January rose 1 percent from December, a statistic that suggests housing will continue its run through the spring season, at least.

86 percent of homes break ground within one month of permit issuance.

It’s a good time to be a home buyer. Mortgage rates and home prices are low. Housing market momentum, however, is building. If you’re on the fence about whether to buy a home in Dublin Ranch or Gale Ranch ask your real estate agent, John DeMarinis for additional market information.

The cost of home-ownership may never be as low as it is today.

For the best representation in your Real Estate Purchase or Sale contact John DeMarinis the local Real Estate expert for the Dublin, Pleasanton, San Ramon, Danville, and Livermore area.

 

Have a Question or Comment: Leave us a note

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.
Filed Under: Blog, Housing Analysis Tagged With: ,

Homebuilder Confidence Returns To Pre-Recession Levels In Dublin

February 20, 2012 By

NAHB HMI index 2010-2012

New construction buyers in Dublin , look out. The nation’s home builders are predicting a strong 2012 for new home sales. It may mean higher home prices throughout the tri-valley as the spring buying season approaches.

For the sixth straight month, the National Association of Homebuilders reports that homebuilder confidence is on the rise. The Housing Market Index climbed four points to 29 in February, the index’s highest reading since May 2007.

The Housing Market Index

The Housing Market Index is now up 8 points in 8 weeks. The last time that happened was June 2003, a month during which the U.S. economy was regaining its footing, much like this month. It’s noteworthy that June 2003 marked the start of a 4-year bull run in the stock market that took equities up 54%.

The NAHB’s Housing Market Index itself is actually a composite reading. It’s the end-result of three separate surveys sent to home builders monthly.

The association’s questions are basic :

  1. How are market conditions for the sale of new homes today?
  2. How are market conditions for the sale of new homes in 6 months?
  3. How is prospective buyer foot traffic?

In February, builders reported marked improvement across all three areas. Builders report that current home sales climbed 5 points; that sales expectations for the next 6 months climbed 5 points; and that buyer foot traffic climbed 1 point.

Home buyer are Ready to buy

Most notable of all of the statistics, though, is that the nation’s home builders report that there are now twice as many buyers setting foot inside model units as compared to just 6 months ago.

This data is supported by the monthly New Home Sales report which shows rising sales and a shrinking new home inventory.

Because of this, today’s new home buyers throughout Dublin, Pleasanton, San Ramon, Danville and Livermore should expect fewer concessions from builders at the time of contract including fewer price breaks on a home and fewer free upgrades. Builders are optimistic for the future and, therefore, may be less willing to “make a deal” so be prepare and contact your local tri-valley real estate expert, John DeMarinis.

This spring may mark the best time of year to buy a new home. 60 days forward, it may be too late.

For the best representation in your Real Estate Purchase or Sale contact John DeMarinis the local Real Estate expert for the Dublin, Pleasanton, San Ramon, Danville, and Livermore area.

 

Have a Question Or Comment-Leave us a note

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.

 

Filed Under: Blog, Featured Blog Posts, Housing Analysis Tagged With: , ,

With Retail Sales And Consumer Confidence Rising, Home Prices Are Expected To Follow in the Tri-Valley

February 20, 2012 By

Consumer Confidence vs Retail Sales (2009-2012)

The U.S. economy continues to show signs of a rebound.

According to the Census Bureau, Retail Sales climbed to $329 billion last month on a seasonally-adjusted basis, excluding automobiles. January’s data marks the 18th time in 19 months that Retail Sales rose, a run that’s increased total sales receipts by 11 percent.

This is big news because Retail Sales accounts for close to 70% of the U.S. economy.

In addition, consumer confidence is rising.

In a separate, joint report from the University of Michigan and Thompson Reuters, it was shown that consumer attitudes toward the economy and the future are improving, primarily the result of recent job gains.

The Survey of Consumers posted its highest value in 12 months.

Consumer Confidence is High

It is not a coincidence that Retail Sales and consumer confidence both made multi-month highs — the readings are more than loosely linked. As consumers feel more confident about the economy and their personal prospects for the future, they’re more likely to spend money on goods and services, which leads to an increase in consumer spending.

For the housing market, the ramifications are two-fold.

First, from the financing side, an expanding economy is linked to rising mortgage rates. This is because Wall Street tends to chase risk in a growth economy and the bond market offers little in the way of risk. As demand for bonds drops, then, mortgage rates rise throughout the tri-valley.

Second, rising consumer confidence can lead Pleasanton, San Ramon, Danville, Livermore, and Dublin home values higher, too.

Consumers more Confident to Buy A Home

Confident consumers are more likely than fearful ones to become home buyers. They’re more likely to stop renting and start buying; more likely to list their home and “move-up” to something bigger; more likely to “take the next step”.

So, as more buyers enter the market at a time when the national home supply is shrinking, the supply-demand balance in housing is shifting toward the sellers. This creates price pressures and should lead to higher home valuations in neighborhoods like Dublin Ranch and Gale Ranch.

If you have plans to buy a home in 2012, the best time to buy may be now. Today’s mortgage rates are low and so are the home prices — a combination that’s unlikely to last.

For the best representation in your Real Estate transaction contact John DeMarinis the local Real Estate expert for the Dublin, Pleasanton, San Ramon, Danville, and Livermore area.

Questions or Comments:

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.
Filed Under: Blog, The Economy Tagged With: , ,

Homes for Sale in Danville-515 Knollwood ct. Danville, CA 94506- Coming Soon

February 18, 2012 By

 

515 Knollwood Ct. Danville

Extraordinary Danville Find! Striking remodeled home. Stunning floor plan. Cathedral ceilings. Elegant arches. Plantation shutters. Highly upgraded chef’s kitchen. New Stainless appliances. Hand-scraped hardwood floors. Superior plush carpeting. Deluxe Master suite-fireplace and bath retreat. Private setting. Situated in the Shadow Creek area.

 

 

This home is Ready for you! Check out the virtual Tour

Property Details of 515 Knollwood ct.

Listing Price:
Address: 515 Knollwood Ct.
City: Danville
State: Ca
ZIP: 94506
MLS # (if any):
Square Feet: 3278
Bedrooms: 4
Bathrooms: 3
Basement (full, 1/2, finished, unfinished):

 

School Information by 515 Knollwood Danville

This beautiful Danville home is  located near Tassajara Hills Elementary School, Creek Side Elementary , Diablo Vista Middle school, and Dougherty Valley High School. These schools are part of one of the best School Systems in the Contra Costa area, The San Ramon Valley Unified School District.

 

Question or Comment: Leave us a note

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.

 

 

Filed Under: Featured Properties, Properties Tagged With:

Fewer Jobless Claims Suggests Higher Home Prices Ahead

February 15, 2012 By Leave a Comment

Initial jobless claims 2008-2012

Economists believe the strength of the 2012 housing market will be closely tied to jobs. If they’re right, the housing market is ripe for a boost. It spells good news for Dublin home sellers and may mean the end of bargain-basement prices for buyers.

Since peaking in mid-2009, the number of U.S. workers filing for first-time unemployment benefits has dropped 44 percent. Over the same period of time, the U.S. economy has added more than 2 million jobs and the national Unemployment Rate is down more than 1 percentage point to 8.3%.

 Housing market of Dublin Ranch

Employment’s link to the housing market of Dublin Ranch is both economic and psychological.

To make the economic link is straight-forward. A person with a job earns verifiable income and such income is required in order to be mortgage-eligible. For conventional and FHA purchase loans, for example, mortgage lenders want a home buyer’s monthly income be more than double his monthly debts.

For the formerly unemployed that have since returned to work, having a full-time income makes buying homes possible. It also supports higher home valuations nationwide because home prices are based on supply-and-demand. All things equal, when the number of buyers in a market goes up, prices do, too.

The psychological connection between housing and employment is a tad more complicated, but every bit as important. It’s not just out-of-work Americans that don’t look for homes — it’s fearful Americans, too. People with concerns about losing a job are just as unlikely to shop for homes as people actually without a job. The same is true for people unsure of their prospects for a better-paying job, or their own upward mobility.

A recovering job market can lessen those fears and draw out buyers in the tri-valley — especially those who face a loss on the sale of an “underwater” home.

The Initial Jobless Claims rolling 4-week average is at its lowest level since 2008. Fewer Americans are losing jobs, and more are finding permanent placement.

It’s one more reason to be optimistic for this year’s housing market.

Filed Under: Featured Blog Posts, The Economy Tagged With: , ,

Boost Your Credit Score For Better Mortgage Rates In Dublin

February 15, 2012 By

Credit scores play a huge role in today’s mortgage market — larger than at any time in recent history. Blame it on the high default rates of the last half-decade. Lenders are reserving their lowest rates for the customers most likely to make on-time repayments.

Low Rates in Dublin

Mortgage rates are at an all-time low in Dublin. However, the low rates you see advertised on TV and online are only available to the home buyers and would-be refinancers whose credit scores are pristine. Having a high credit score is often the difference between getting “the best rates” from your lender, and getting something worse.

The first part of improving your credit score is understanding how it works. In this 5-minute piece from NBC’s The Today Show, you’ll learn the basics :

  • Why you shouldn’t close a credit card after you pay off a large debt
  • What is the maximize balance to leave on your credit cards, relative to your credit limit
  • What types of credit checks harm your credit scores, and which ones don’t

You’ll also learn how to shop for a mortgage with multiple lenders without having your credit score “dinged”, as well as several proven methods to raise your credit score quickly.

In the end, good credit scores are the result of paying bills on time and staying with your means. Those with the best scores, get the best rates.

For the best representation in your Real Estate transaction and loan assistance contact John DeMarinis the local Real Estate expert for the Dublin, Pleasanton, San Ramon, Danville, and Livermore area.

Have a Question or Comment:

Contact Form

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.

 

Filed Under: Blog, Featured Blog Posts, Personal Finance Tagged With: , , ,

Homes for Sale in Richmond- 737 Rock Rose Way Richmond, CA 94806-Pending

February 13, 2012 By

 

 

737 Rock Rose Way in Richmond

Clean as a pin! Sparkling country club home.This is the best value in the country club area. Light and bright throughout. New appliances. Fresh interior paint. Neutral colors. Plush carpets. Large master with walk-in closet. Very spacious and open floor plan. Move-in ready. Your buyers will love it!

This Home is Ready for You!

 

 Property Details of 737 Rock Rose Way

Listing Price: 359,950
Address: 737 Rock Rose way
City: Richmond
State: CA
ZIP: 94806
MLS # (if any): 40561408
Square Feet: 2079
Bedrooms: 4
Bathrooms: 2 1/2
Basement (full, 1/2, finished, unfinished):

 

Have Questions

 

Property Information

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.
Filed Under: Featured Properties, Properties

Homes for Sale in Pleasanton-7750 Canyon Meadow cir.#H Pleasanton, CA 94588-Pending

February 10, 2012 By

 

7750 Canyon Meadow in Pleasanton

Private.Serene Pleasanton location.Light and bright.Top floor.End unit.This is a home you don’t want to miss.Tile floors.New plush carpeting.GE ss appliances.Granite counters.New kitchen cabinets.Nice details throughout.Well managed Hoa.Abundant amenities.Clean and manicured complex.All at an affordable lifestyle in pleasanton.A real 10. Great Pleasanton schools. Just hop away from Stoneridge mall in pleasanton and 580 & 680 freeway access.

 

This home is ready for you!

 

Property details: Canyon Meadow cir.

Listing Price: 264,950
Address: 7750 Canyon Meadow Cir. #H
City: Pleasanton
State: CA
ZIP: 94588
MLS # (if any): 40559678
Square Feet: 1043
Bedrooms: 2
Bathrooms: 2
Basement (full, 1/2, finished, unfinished):

 

Have additional  Questions?

Property Information

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.
Filed Under: Featured Properties, Properties Tagged With:

Homes for Sale in Pleasanton- 4451 Seminole way Pleasanton, CA 94588-PENDING

February 10, 2012 By

 

 

4451 Seminole Way in Pleasanton

Fabulous Pleasanton location!This home is a excellent investment for your money.Totally upgraded throughout.Plush carpets.Hardwood floors.Remodeled bathrooms.New texture.Fresh paint.Abundant parking and a well maintained complex.There is nothing in pleasanton that compares in size at this price!

Check out our VIRTUAL TOUR : TOUR OF SEMINOLE

This Home is For You!

 

4451 Seminole way Property Details

Listing Price: 324,950
Address: 4451 Seminole wy
City: Pleasanton
State: ca
ZIP: 94588
MLS # (if any): 40559592
Square Feet: 1474
Bedrooms: 4
Bathrooms: 2.5
Basement (full, 1/2, finished, unfinished):

 

Property Information

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.
Filed Under: Featured Properties Tagged With:

Revamped HARP : Unlimited Loan-to-Value And Same Great Rates

February 10, 2012 By Leave a Comment

Making Home Affordabie

The government’s new, revamped HARP program is 6 weeks from release. Homeowners in California and nationwide are gearing up to refinance.

HARP is an acronym. It stands for Home Affordable Refinance Program. HARP is the government’s loan product for “underwater homeowners”. HARP makes current mortgage rates available to households which would otherwise be unable to refinance because the home lacks equity.

This is a big deal — especially today. Mortgage rates are at an all-time low and millions of U.S. homeowners have been unable to take advantage. HARP aims to change that.

HARP originally launched in 2009. Its first iteration failed to reach a meaningful percentage of U.S. homeowners, however, because costs were high and loans were high-risk. With its re-release, the government has removed the hurdles to HARP, putting refinancing within reach for millions of U.S. households.

To qualify for HARP, homeowners must first meet 3 qualifying criteria.

First, their current mortgage must be backed Fannie Mae or Freddie Mac. FHA- and VA-backed loans are HARP-ineligible, as are jumbo loans and loans backed by portfolio lenders.

  • To check if your loan if Fannie Mae-backed, click here.
  • To check if your loan if Freddie Mac-backed, click here.

Second, the existing mortgage must have been securitized by Fannie Mae or Freddie Mac prior on, or before, May 31, 2009. If you bought your home or refinanced it after that date, you are HARP-ineligible.

There are no exceptions to this rule.

And, third, the existing mortgage must be accompanied by a strong repayment history. Mortgage payment must have been paid on-time for the last 6 months, at least, and there may not be more than one 30-day late payment in the last 12 months.

If these 3 qualifiers are met, HARP applicants should find the approval process straight-forward :

  • Fixed rate mortgages allow unlimited loan-to-value
  • The standard 7-year “waiting period” after a foreclosure is waived in full
  • Except in rare cases, home appraisals aren’t required

Furthermore, HARP mortgage rates are expected to be on par with non-HARP rates, meaning that HARP homeowners in Dublin will get the same rates and pay the same fees as everyone else. There’s no “penalty” for using HARP.

The revamped HARP is expected to be generally available beginning Monday, March 19, 2012.

To get a head-start on HARP, check with your loan officer for the complete list of HARP eligibility requirements. If you don’t already have a loan officer let me know and I can recommend a loan officer.

Filed Under: Blog, Mortgage Guidelines Tagged With: , , ,
« Older Posts