Showing posts with label Market Update. Show all posts
Showing posts with label Market Update. Show all posts
Thursday, August 18, 2011
South Berkeley Home Sales Data
Click Here to see South Berkeley Home Sales Stats.for the 2nd quarter 1997-2011. I can customize this report for your neighborhood. If you would like to request current market data let me know. Click on my picture for contact information. Or email me at bill@billfletcherhomes.com
Thursday, December 16, 2010
East Bay Sewer lateral ordinance update
Many East Bay Communities already have a point of sale ordinance that requires inspection and in many cases replacement of the sewer lateral when the property is sold. Berkeley, Richmond, Albany, El Cerrito, Kensington already have these ordinances. EBMUD is the latest to join in. Two of the communities affected will be Oakland, Emeryville. The Original start date for the ordinance was for properties that went into escrow starting January 2011.
Per a discussion with EBMUD that is no longer the established start date.
A new date will be determined by the end of December.
You can monitor updates by going directly to the EBMUD website. The site also explains the ordinance,
http://www.ebmud.com/our-water/wastewater-treatment/private-sewer-lateral-program.
And don't forget to check out my website, http://www.billfletcherhomes.com/, for market stats, property searches, open houses, neighborhood videos (my favorite), and more. If you need a property valuation, comparative market analysis, help buying or selling a home please call or email me: bill@billfletcherhomes.com.
Per a discussion with EBMUD that is no longer the established start date.
A new date will be determined by the end of December.
You can monitor updates by going directly to the EBMUD website. The site also explains the ordinance,
http://www.ebmud.com/our-water/wastewater-treatment/private-sewer-lateral-program.
And don't forget to check out my website, http://www.billfletcherhomes.com/, for market stats, property searches, open houses, neighborhood videos (my favorite), and more. If you need a property valuation, comparative market analysis, help buying or selling a home please call or email me: bill@billfletcherhomes.com.
Monday, December 21, 2009
Mortgage Update
This post is compliments of Sheila Schultz, a wonderful loan agent in the East Bay
"ALL GOOD THINGS MUST COME TO AN END..." Or so the popular saying goes. And last week, the Fed reiterated once again that their Mortgage Backed Security (MBS) purchase program...the program that has helped keep home loan rates low for much of the last year...will end on March 31, 2010 as previously stated. Here's the lowdown on what this means, and all the latest news impacting home loan rates and the markets.
Last Wednesday during their regularly scheduled meeting of the Federal Open Market Committee, the Federal Reserve kept the Fed Funds Rate unchanged. But history has shown that when the Fed has left rates too low for an extended period of time, there is a price to be paid, via higher inflation. Yet if the accommodation is removed too early, it can derail an already fragile recovery. The Fed continues to walk this tightrope, trying to get it "just right."
Along with this decision, the Fed emphasized and reminded that their MBS purchase program will still end on their already revised deadline date of March 31, 2010. Why is this significant? Let's look at the numbers from last week to get an idea. The Fed purchased $16B in MBS in the latest week bringing the year-to-date total to $1.087T. This means there is $163B left to purchase before March 31, which in turn means the Fed will purchase about $11.5B on average each week through the end of the buying program. This is less than half of what the Fed was buying regularly throughout 2009 and a 1/3 less than what the Fed has been buying in recent weeks.
So why does this point to higher rates around the corner? When there is lots of supply and diminishing demand, the price of that item will subsequently go down - it's Economics 101. So, when Bond prices start to decrease from the diminishing demand of the Fed's purchases, home loan rates will naturally be likely to increase.
"ALL GOOD THINGS MUST COME TO AN END..." Or so the popular saying goes. And last week, the Fed reiterated once again that their Mortgage Backed Security (MBS) purchase program...the program that has helped keep home loan rates low for much of the last year...will end on March 31, 2010 as previously stated. Here's the lowdown on what this means, and all the latest news impacting home loan rates and the markets.
Last Wednesday during their regularly scheduled meeting of the Federal Open Market Committee, the Federal Reserve kept the Fed Funds Rate unchanged. But history has shown that when the Fed has left rates too low for an extended period of time, there is a price to be paid, via higher inflation. Yet if the accommodation is removed too early, it can derail an already fragile recovery. The Fed continues to walk this tightrope, trying to get it "just right."
Along with this decision, the Fed emphasized and reminded that their MBS purchase program will still end on their already revised deadline date of March 31, 2010. Why is this significant? Let's look at the numbers from last week to get an idea. The Fed purchased $16B in MBS in the latest week bringing the year-to-date total to $1.087T. This means there is $163B left to purchase before March 31, which in turn means the Fed will purchase about $11.5B on average each week through the end of the buying program. This is less than half of what the Fed was buying regularly throughout 2009 and a 1/3 less than what the Fed has been buying in recent weeks.
So why does this point to higher rates around the corner? When there is lots of supply and diminishing demand, the price of that item will subsequently go down - it's Economics 101. So, when Bond prices start to decrease from the diminishing demand of the Fed's purchases, home loan rates will naturally be likely to increase.
Subscribe to:
Posts (Atom)