Posts Tagged ‘east bay housing market’

Sign of the spillover: Luxury home sales surge 68% in Oakland

December 3, 2014

http://www.bizjournals.com/sanfrancisco/blog/2014/12/luxury-home-sales-oakland.html?ana=twt via @SFBusinessTimes

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Kennedy Wilson buys huge East Bay apartment complex for $97 million

July 7, 2014

Kennedy Wilson bought the 542-unit Kirker Creek Apartments complex in Pittsburg.

Kennedy Wilson buys huge East Bay apartment complex for $97 million http://www.bizjournals.com/sanfrancisco/blog/real-estate/2014/07/kennedy-wilson-buys-east-bay-apartments-pittsburg.html?ana=twt

December 30, 2013
MORTGAGE TIME
Mortgage Market News for the week of Dec. 27, 2013
Compliments of:

 

Patrick Gardner
Mortgage Loan Officer
NMLS ID: 378888
415-423-1424
Email me
Visit my website

 

 

QUIET HOLIDAY WEEK
The mortgage market was quiet during Christmas week. The few economic reports released this week, including Durable Orders, Jobless Claims, and New Home Sales, were mostly stronger than expected. As a result, mortgage rates ended the week a little higher.

While the headline results for this week’s New Home Sales report revealed a decline from the prior month, this obscured the substantial improvement. New Home Sales dipped slightly in November, but this was from a level in October which was revised substantially higher. In fact, the revised October reading was the highest level since July 2008. November New Home Sales were 17% higher than one year ago. This was another in a string of recent housing market reports which provide reasons to be optimistic heading into 2014.

On December 18, the Fed announced that it will begin to scale back its bond purchases. The added demand from the Fed for mortgage-backed securities (MBS) has been a major factor helping to keep mortgage rates low, so a reduction in bond purchases is clearly negative for mortgage rates. Considering this, it is interesting to see that mortgage rates have moved only a little higher since the Fed announcement. In other words, the taper was almost completely priced in to mortgage rates ahead of the actual announcement. By contrast, the reaction in the stock market to the Fed statement was much larger. Investors were pleased that the Fed intends to hold the fed funds rate low until much greater labor market improvement is seen, and the Dow stock index has climbed roughly 600 points to a record high.

ALSO NOTABLE
The IMF raised its outlook for the US economy next year
Core PCE inflation was just 1.1% higher than one year ago
10-yr Treasury yields crossed above the 3.0% level
The Dow stock index rose to a record high

 

WEEK AHEAD
The important monthly Employment report will not be released until January 10, leaving a light week for economic data to begin the new year. Pending Home Sales will be released on Monday. Chicago PMI Manufacturing and Consumer Confidence will come out on Tuesday. ISM Manufacturing and Construction Spending will be released on Thursday. Mortgage markets will close early on Tuesday and will be closed on Wednesday in Observance of the New Years holiday.

Monthly Investment Meet-Up Meeting with Antoine Pirson Tomorrow Night 7-9pm

January 4, 2011

Where will the Housing Market go in 2011?

Tomorrow evening (January 4th, 2011)  from 7 – 9 pm, Antoine Pirson (our Director of Investment Properties) will hold his regular monthly investment meet-up meeting at our Oakland office (5251 Broadway, Oakland, CA 94618 – the corner of Broadway and College Avenue)

This month, he will cover the following topics:

  1. What is the economical forecast for 2011? (Attendance participation encouraged)

  2. What is happening to lending, and underwriting requirements (A mortgage broker will be in attendance to answer these questions)

  3. Housing Rebound: Bull or Bear?

  4. Sales trend from December 2010

  5. What is inflation and how does it affect real estate?

  6. Who is buying NOW? And why?

Anyone who would like to join in the discussion is welcome to come and hear what Antoine and others have to say about the housing outlook for 2011.

Hope to see you there tomorrow night!

Antoine E. Pirson
MBA, CCRM, CCIM (candidate)
R.E. Broker and Investment Advisor
Lic #01372814

apirson@caldecott.com
Office: 510.594.2400 x 234
www.investmentpropertyfirst.com