Yesterday, I attended “The BIG EVENT”, hosted by Contra Costa at the Lesher Theatre in Walnut Creek. Two main speakers were there speaking: Robert Kleinhenz PHD, Deputy Chief Economist for Calif. Assoc of Realtors (CAR) and Gov Hutchinson, asst. general counsel & VP of CAR. This once-yearly meeting talks trends/forecasts and new laws coming into effect on January 1st. The event is open to members of the Contra Costa Assoc. of Realtors. Below are some highlights of the talk:
- Unemployment for California remains around 12%. (10% in Contra Costa.) The non-farm recession job losses are about 1 million jobs; however, since Jan 2010, 222,400 jobs have been added to the state.
- The economy is recovering, but moving slow. GDP for 3rd quarter 2011 was 2.5% for the same time last year, it was 2.7%.
- Consumers are not spending, and also DRAINING down their savings. This will be a slow healing process, as consumer spending is needed to improve the economy.
- Interest rates are historically LOW, and this makes it a great time to buy.
- The California median home price is $287,400, down 8.3%.
- 2012 is predicted to mirror 2011 in the California housing market. We are close to record affordability. 34% of buyers are first time buyers.
- Tax credits helped sales in 2010; they say this is a transition year and sales have to move forward by themselves. Equity sales rose in 2011.
- There will continue to be foreclosure thru 2014!
- Current inventory in CA is 5 months; down from 7 months. Homes over $1 million have a 10 month inventory and those under $300K have a 4.7 month inventory. Broken down by inventory type, in California there is a 2.6 month inventory for REO’s. A 5.9 month inventory for regular sales and ad 7.9 month inventory for short sales.
- Most buyers shop for 4 months before contacting an agent; 80% of buyers used an agent.
- Financing continues to be a challenge.
- Some new laws going into effect 1/1/12: Landlords can prohibit smoking and it must be written in the lease. Tenants can display political signs. HOA transfer CANNOT be more than $250, and HOA MUST discloses if unit cannot be rented out. If a home is listed for less than the liens, than it MUST be listed as a short sale.
- If a DRE member is on the Top 500 tax delinquent list, they will lose their license. WOW!
- For a link to this speech go to: www.car.org/marketdata and then click the speech section on the left hand side.
Happy Halloween! Here are some spooky& sweet housing stats….
- 43% of all sales in California are REO’s or Short Sales. Since these sellers will be credit-challenged, does that mean we lost 43% of these owners to non-ownership?
- 33% of all loans are in foreclosure; some homeowners have not made a payment in 2 yrs.
- 30% of all mortgages in California are upside down; an additional 5% are very close.
- Some CA cities have numbers higher (example: Hesperia is 76.9% underwater – WOW)
How about a sweet-as-candy housing stat? Real estate is going for half-price or more of 2006 prices and interest rates are 4% – This is great news, so WHY NOT BUY NOW?
This weekend, come enjoy this wonderful weather and one of the last weekends at Hannah Nicole Vineyards (Brentwood, CA) listening to live acoustic music. There will be great music, good times, tasty food and, of course, wonderful wines to enjoy while sitting in a gorgeous vineyard location.
Let the afternoon drift by as you enjoy music, a bottle of wine or some treats from their grill/pizza oven. You can purchase cheese, salami and crackers from their gift shop or bring your own picnic snacks. Don’t miss out on your opportunity to make a memorable fall afternoon, also don’t forget a blanket or low-back chair.
Tickets are NOT required and the show runs from 1-4PM. Please click here for more information. NO PETS, OUTSIDE ALCHOLIC BEVERAGES OR SPORTING EQUIPMENT ALLOWED!!
Here is a list of last scheduled performances…
October 22 – Ken Koening ; A new recording artist at HNV. Ken brings the influence of The Beatles, Dave Mason, Dave Matthews and a touch of Petty in his music.
October 23 – Chris Ahlman; A bright recording artist and guitarist with folk and pop rock influences – reminds us of John Mayer.
October 29 – Ken Maffeo; A Singer, Songwriter, Musician and Recording Artist. You’ll love him!
October 30 – Nathan Kent Duo Returns! We get more requests for these two guys to play. Come find out why!
Nine homes SOLD in Summerset, Brentwood in the month of August. The highest at $410K and the lowest at $245K , and here is a link to HOMES SOLD.
Summerset has less than 2% of their total homes on the market at any one time. Summerset is an “over 55″ community in the San Francisco East Bay. The homes range from 984 sq ft for a duet to over 2800 sq ft. Some homes are on the golf course or larger lots. Summerset has 4 communities, and each community has similar floor plans; and once you purchase at Summerset, you can partake at activities at the other three (3) communities.
With some homes selling here at 2001 prices, it is a great time to consider a purchase at Summerset. Contact me for additional information on Sumerset, Brentwood.
Labor Day weekend is the “official” ending of summer, but the pools here at Summerset will stay open until the end of October. Hot tubs are open year-round. Summerset 2’s annual fund raiser for the “Care Bears” is September 18th called Sip & Stroll. A day to taste food from local restaurants, sip wine, enjoy a classic car show, listen to music and take part in a silent auction. This month events also include a visit to the Castle Winery in Calistoga, Red Hawk Gambling Bus Tour, and a Vagabond Player’s show are all on the agenda.
Weekly Bocce and monthly happy hours will also entertain you as a Summerset resident. Summerset, an “over 55 age-restricted” community located in Brentwood (San Francisco East Bay), and made up of 4 communities. Each community has its own HOA, recreation center, pool/hot tub, work out area, and activity director. Now is a great time to take advantage of low prices (some at 2001 pricing) and interest rates in the 4% arena.
Here is a link to current homes for sale at Summerset. (Link is good for 30 days)
Here is a link to current rental homes for sale at Summerset. (Link is good for 30 days)
I enjoy living in Summerset, so give me a call at 925-852-1659 for a personal tour and discover Brentwood’s original active-adult community!
Brentwood Art & Wine Festival was this weekend. What a fun event. There were some great artists at this event; my favorite was Crystallized Concepts of Discovery Bay. Bonnie created some wonderful earrings and necklaces out of wire. She is offering studio parties, so check her out. Alvon Johnon and Friends played for 2 hours on Saturday night, and what a show. He was the winner of Guitar Player of the year and when you hear him, you will know why. This event was at the Streets of Brentwood, and was free but your donation for beer/wine beneffited the Cultural Arts of Brentwood
Currently in Brentwood (94513) there are 185 properties for sale, ranging in price from $69,900 for an 863 sq ft tear-down on a 9,000 sq ft lot. The most expensive is off of Byron Highway. It has 6800 sq ft and 486,000 sq ft lot. A pool, fountains, outdoor kitchen with pizza oven, limestone floors and 10 acres of syrah grapes could be yours! For a link to current Brentwood homes for sale, click here.
Labor Day weekend will be here soon. Enjoy your 3 days and do something fun. The Streets of Brentwood is hosting a BLOOD DRIVE next Saturday, Sept 3rd from 11AM-4PM. To schedule an appointment, click here.
Hannah Nicole winery (Brentwood, CA) continues their live acoustic music on Sunday afternoons. Plenty of sunshine, good times, tasty food and drink with summer memories for everyone will be in store for you.
East Bay BMW will now be at the winery, too. Your eyes can view a new “ultimate driving machine”, your ears can listen to beautiful music and your mouth can enjoy some wonderful wine. Don’t miss out on your opportunity to make a memorable summer afternoon!
Let the afternoon drift by as you enjoy music, a bottle of wine from their tasting room, or some treats from their grill/pizza oven. You can purchase cheese, salami and crackers from their gift shop or bring your own picnic snacks.
Tickets are NOT required and the show runs from 1-4PM. Please click here for more information.
Here is a list of scheduled performances…
August 14, David Trevors – Spanish and Classical
August 21, Owen Plant – Acoustic Influences
August 28, Nathan Kent Duo – Encore Appearance
Residents gather at the pools and hot tubs to catch up on events, like people around the coffee pot or water-cooler at work. Our pools offer a place to gather for water aerobics, a nice lap swim or a place to float on your noodle. Water aerobics, BBQ’s, luaus, and family swim time are all part of the activities.
Two weeks ago, The Summerset Singers’ performed a wonderful mix of old and new, fast and slow songs; and the talent of our Summerset Singers is incredible! If you get an opportunity to come to their next concert, do not miss it!
The bocce, tennis, and golf playing are also favorite Summer activities at Summerset. Happy hour this month will have a DJ, a Carribbean night, trip to Capitola, and our annual ice cream social will also take place. Once you are a resident of Summerset, you will receive a monthly activity calendar, and can attend activities at any of the four Summerset locations
Summerset, an “over 55 age-restricted” community, is located in Brentwood CA 94513, just 50 miles east of San Francisco. Now is a great time to take advantage of low prices (some at 2001 pricing) and interest rates below 5%. Here is a link to current homes FOR SALE in Summerset.
Since it is month end, here is a link to homes that have SOLD in Summerset from April 1st. I enjoy living in Summerset, please give me a call for a personal tour and discover Brentwood’s original active-adult community!
Brentwood CA (94513) 2nd quarter 2011 sales were down slightly from 2010 at just under 10% (.088%). The medium price of a house was basically unchanged from YAG 2010 at $308,000. The days-on-market went up 33% from 27 as an average to 36 days on market. However, over half of the 271 homes SOLD in under 3weeks, showing that homes that are priced well and move-in ready are still in demand.
Currently, there are 169 homes for sale in Brentwood, with a median days-on-market of 50 and an average-days-on market of 80. The median sales price is $349,900; over $40K more than the the median selling price in the 2nd quarter. Here is a link to current homes for sale in Brentwood.
Today, 7/11/11, join 7/11′s Birthday celebration with a FREE SLURPEE and other fun give-aways. Just stop by any 7/11 for a free Slurpee; click here for more information. ENJOY and Happy Summer fun to you!
