Archives for January 2011

Moraga Real Estate Market Improved In 2010

Moraga 2010 single family detached home sales rose 37.8% over 2009 while median sales price declined slightly from $900,000 in 2009 to $880,000 in 2010. Average days on market declined 22.2% to 48 days while new listings rose 24.8% over the period.

Orinda Real Estate Market Up In 2010

Orinda detached home sales increased 9.8% in 2010 versus 2009 and the median sales price increased 5.8% to $962,500. At the same time, new listings increased 14.9% and average days on market increased 31.9% from 62 in 2009 to 82 in 2010.

Contra Costa Pre-Foreclosure Picture Is Improving

Foreclosure radar published their 2010 year-end figures and they show Contra Costa’s foreclosure picture may be improving. On a year over year basis, the December 2010 Notice of Defaults (NODs) were down 13% and properties scheduled for Trustree’s Sale are down 11%. Foreclosure inventory for sale increased 19% on a year over year basis but has been trending down since October 2010.

If the downward trend in NODs continues it could mean long term improvement in the overall Contra Costa housing market.

Rick Booth Earns Certified HAFA Specialist Designation

Rick Booth recently earned the Certified HAFA Specialist designation which acknowledges his expertise helping consumers navigate short sales conducted under the Federal government’s Home Affordable Foreclosure Alternatives initiative. HAFA provides for advance bank approval of a short sale along with a preapproved price at which the bank will accept an offer. This removes one of the biggest obstacles to getting a short sale sold in the current market. In addition, there is provision for the home owner to get a moving allowance at the conclusion of their short sale. Rick is available to help homeowners understand and conduct short sales pursuant to HAFA.

Apartment Building To Replace Longs Drugs HQ?

The CCTimes reports that the City of Walnut Creek is looking at a proposal to redevelop the old Longs HQ building. It is so sad to see last vestiges of Longs disappear. I was recently in Hawaii where the Longs Drugs signs are still on the stores. I was later disappointed to find that CVS just had not yet changed their signage.

The link to the CCTimes article is here.

Five Economists Predict The 2011 Housing Market

The LA Times asked five real estate economists their predictions for the 2011 California market and the results were all over the board. One predicted home prices would be flat, another predicted prices would be up 2%, a third thought prices would fall 5%, a fourth said prices would “stabilize” and the fifth said prices would be flat. I would group stabilize in with the flats which means in shear numbers the flats win.

You can read the full article here.