East Bay Real Estate: Some Housing Recovery Solutions!

If I was in charge of making the decisions as to how our Bay Area housing industry could speed up its recovery it would be much different than what the Feds and the Banks are currently doing.  The challenge is some Bay Area communities are recovering much faster than others – Silicon Valley being one of them.  The East County of the Bay Area will take five or more years to work out of homes that are underwater.

Remember, all markets are local. It is amazing that we have the lowest home prices in most of our communities since the early 2000’s,  the lowest mortgage rates in 40+ years – under 4%, and the lowest January inventory of homes for sale in my memory!  AND, Buyers are still sitting on the sidelines not taking advantage of this perfect storm.  What a great time to buy instead of rent!  However, some buyers still believe prices will come down further in 2012.  Some are not able to secure a mortgage.  And, some believe that it makes more sense to rent than to buy for the next several years. [Read more]

The Tobin Clark Estate: Interior Designer, Syrie Maugham’s Finest Work!

The Tobin Clark Estate was completed in 1931, designed by the re-nown architect, David Adler.  Upon completion, the Estate was filled with interior decor by Syrie Maugham (wife of Somerset Maugham), paintings by Van Dyke and Sir Joshua Reynolds, Queen Anne paneling, eighteenth century Chinese wall coverings, a rare Dubois writing table and over two hundred other items sent from England and the Continent were selected by Syrie Maugham.  Celia Tobin Clark learned about Syrie’s legendary interior decorating from a dear friend in Chicago.  Syrie is credited for designing the first all-white room.  At the Estate, The Music Room, is a perfect example of her work using ‘white’ as the primary color. [Read more]

East Bay Real Estate: 2012 Real Estate Predictions

My predictions for 2012 are now ready for your review.  And we will review how my predictions for 2011 turned out now that we are able to be ‘Monday morning quarterbacks’.   Last year’s predictions were;  #1 – Jobs = Unemployment;   #2 – Bank Foreclosure Delays;  #3 – Our Federal Government;  #4 – Interest Rates and Mortgage Loan Criteria.  So, how did I do on my 2011 predictions?

2011 Results: Unemployment has taken a turn for the better.   We are not out of the woods yet, however the unemployment rate is going in the correct direction – down;  Bank foreclosures were delayed last year, however not as much as predicted.  Short Sales increased in 2011 and Bank Owned REO sales decreased;  The Fed’s continued as a dysfunctional aspect of our economy in 2011, both from a legislative standpoint and from just not having many options to stimulate the economy;  We were completely wrong on the interest rate prediction of being in the 6% by the end of the year.  Mortgage interest rates ended the year even lower than when the year started – 4%! [Read more]