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July 16, 2005
U.S. Home Prices Not Like Japan's in 1980s
With U.S. housing prices staying strong in many parts of the country, some analysts are comparing the appreciation trend to similar growth in Japan in the late 1980s, when a property bubble formed and eventually burst. But most analysts aren't sure that's a good comparison.
More than 10 years after the Japanese slowdown, land prices are still on the decline; and banks have just recently begun to pull out of a land-related, bad-loans crisis.
Although both Japanese and U.S. property industry growth are tied to low interest rates, economists note that there are some significant differences between Japan's plight and the U.S. market, including that the real trouble overseas came from commercial-land speculation.
While speculation in the American market is beginning to pick up, analysts say, there has not been a major land-grab by corporations. Additionally, Japan's residential prices skyrocketed faster and higher than in the U.S.
Source: Wall Street Journal (07/11/05); Moffett, Sebastian
Article from Realtor.org.
Posted by QiRealtyEditor at 09:23 AM | Comments (0)
NAR Boosts Home Sales Forecast
The NATIONAL ASSOCIATION OF REALTORS® has again raised its forecast for the housing sector, with both existing- and new-home sales on pace to set an even bigger all-time record in 2005.
Existing-home sales are expected to rise 2.8 percent to 6.97 million this year; last month, the association was expecting 6.89 million sales—the record was 6.78 million in 2004.
New-home sales should increase 3.2 percent to 1.24 million in 2005, also a record. Total housing starts—single-family and multifamily—are forecast to grow by 5 percent to 2.05 million units, the second highest on record; the peak was 2.36 million in 1972. This year is seen to be a record for single-family construction, with 1.68 million homes started. For more analysis, visit Realtor.org.
Posted by QiRealtyEditor at 09:14 AM | Comments (0)
July 15, 2005
C.A.R. MID-YEAR HOUSING MARKET FORECAST: RECORD SALES IN 2005
Existing single-family home sales will reach a record 633,490 units in 2005, a 1.4 percent increase from the previous year's record pace of 624,740 units, according to C.A.R.'s mid-year housing market forecast. The median price also will hit a record $523,150 this year, increasing 16 percent from 2004's record $450,990. C.A.R. also projected that the state's Housing Affordability Index in 2005 will decline to 16 percent, compared with 20 percent last year.
"While the economic fundamentals for the state -- population, job and income growth -- have not changed since the forecast we prepared in October 2004, interest rates are expected to finish the year lower than we anticipated," said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. "We now expect the 30-year, fixed mortgage interest rate to be at 5.9 percent, with the one-year adjustable rate mortgage at 4.4 percent."
Posted by QiRealtyEditor at 04:08 PM | Comments (0)
Homes Sold in San Ramon (07/08/2005 - 07/15/2005)
| Price | Address | City | Bedrooms | Baths | Sq Ft Apx |
| $399,000 | 9005 ALCOSTA BLVD | SAN RAMON | 2 | 2 | 1230 |
| $479,950 | 120 Stone Pine Ln | SAN RAMON | 2 | 2 | 958 |
| $498,000 | 3735 CROW CANYON RD | SAN RAMON | 2 | 2 | 966 |
| $545,000 | 400 CANYON WOODS PL | SAN RAMON | 2 | 2 | 1031 |
| $575,000 | 3114-1 Lakemont Drive | SAN RAMON | 2 | 2 | 1135 |
| $578,000 | 904 RADIANT LN | SAN RAMON | 3 | 2 | 1325 |
| $690,000 | 2807 St. Denis | SAN RAMON | 3 | 2 | 1334 |
| $699,000 | 7322 BRIZA LOOP | SAN RAMON | 3 | 2 | 1419 |
| $699,000 | 1017 LAKERIDGE PL | SAN RAMON | 3 | 2 | 1715 |
| $700,000 | 9601 ERNWOOD ST | SAN RAMON | 3 | 2 | 1750 |
| $709,000 | 7266 BRIZA LOOP | SAN RAMON | 3 | 2 | 1419 |
| $720,000 | 233 CRESTWOOD PL | SAN RAMON | 4 | 2 | 1542 |
| $730,000 | 717 WINTERSIDE CIR | SAN RAMON | 3 | 2 | 1651 |
| $775,000 | 206 Lakeridge Way | SAN RAMON | 3 | 2 | 1938 |
| $777,000 | 3025 CABRILLO AVE | SAN RAMON | 4 | 2 | 1746 |
| $800,000 | 1 POPPY HILLS LN | SAN RAMON | 4 | 3 | 1995 |
| $825,000 | 2444 Talavera Drive | SAN RAMON | 4 | 3 | 1880 |
| $829,000 | 23 ELMWOOD DR | SAN RAMON | 4 | 2 | 1772 |
| $850,000 | 935 Renada Place | SAN RAMON | 4 | 2 | 2209 |
| $885,000 | 9761 Alcosta Blvd | SAN RAMON | 4 | 2 | 2873 |
| $897,000 | 405 DEERHILL DRIVE | SAN RAMON | 4 | 2 | 2045 |
| $899,000 | 243 SUMMERFORD CIR | SAN RAMON | 4 | 3 | 2614 |
| $900,000 | 401 SAN ROBERTO PLACE | SAN RAMON | 5 | 3 | 2750 |
| $930,000 | 230 Firethorn Court | SAN RAMON | 4 | 2 | 2385 |
| $930,000 | 7506 SEDGEFIELD AVE | SAN RAMON | 5 | 3 | 2537 |
| $969,000 | 373 CARDONA CIRCLE | SAN RAMON | 4 | 3 | 2500 |
| $1,000,050 | 410 MARBLE CANYON CT | SAN RAMON | 3 | 2 | 2290 |
| $1,010,000 | 2017 WINEBERRY DRIVE | SAN RAMON | 3 | 2 | 1971 |
| $1,050,000 | 1243 Andreas Way | SAN RAMON | 4 | 2 | 2779 |
| $1,075,000 | 24 LOMOND CT | SAN RAMON | 4 | 3 | 3176 |
| $1,199,000 | 274 CANYON LAKES PL. | SAN RAMON | 5 | 3 | 3024 |
| $1,300,000 | 209 Riverland Court | SAN RAMON | 5 | 4 | 3700 |
| $1,324,000 | 10046 NANTUCKET DRIVE | SAN RAMON | 5 | 3 | 3720 |
Posted by QiRealtyEditor at 03:41 PM | Comments (0)
Homes Sold in Danville (07/08/2005 - 07/15/2005)
| Price | Address | City | Bedrooms | Baths | Sq Ft Apx |
| $530,000 | 208 BOREL LN | DANVILLE | 3 | 2 | 1145 |
| $540,000 | 161 Lawnview Circle | DANVILLE | 2 | 2 | 1039 |
| $629,000 | 615 MORNINGHOME RD | DANVILLE | 2 | 2 | 1355 |
| $671,000 | 128 TWEED DR | DANVILLE | 2 | 2 | 1524 |
| $685,000 | 312 CAMINO ARROYO E | DANVILLE | 3 | 2 | 1598 |
| $725,000 | 121 SHOSHONE CT | DANVILLE | 3 | 3 | 1971 |
| $780,000 | 1441 CAMINO TASSAJARA | DANVILLE | 3 | 2 | 1291 |
| $800,000 | 532 Rolling Hills Lane | DANVILLE | 3 | 2 | 1769 |
| $840,000 | 144 MOLITAS DR | DANVILLE | 4 | 2 | 1682 |
| $852,500 | 226 MARIGOLD ST | DANVILLE | 3 | 2 | 1915 |
| $890,000 | 11 JUNEWOOD COURT | DANVILLE | 5 | 2 | 2431 |
| $987,000 | 40 MARSEILLE CT | DANVILLE | 4 | 2 | 2037 |
| $1,060,000 | 231 DAYLIGHT PLACE | DANVILLE | 4 | 2 | 2748 |
| $1,100,000 | 221 SAN REY PL | DANVILLE | 3 | 2 | 1846 |
| $1,125,000 | 1204 ROBYN DR | DANVILLE | 5 | 3 | 2772 |
| $1,129,000 | 462 ENTERPRISE DR | DANVILLE | 4 | 2 | 2536 |
| $1,170,000 | 145 ENTRADA MESA RD | DANVILLE | 4 | 2 | 2123 |
| $1,175,000 | 564 BUTTONWOOD DR | DANVILLE | 4 | 3 | 2473 |
| $1,175,000 | 100 CAROLE MEADOWS CT | DANVILLE | 4 | 2 | 2484 |
| $1,175,000 | 429 STONEYBROOK CT | DANVILLE | 4 | 3 | 3237 |
| $1,200,000 | 67 FEATHER RIVER CT | DANVILLE | 4 | 3 | 3237 |
| $1,210,000 | 823 ACKERMAN DRIVE | DANVILLE | 4 | 3 | 2421 |
| $1,225,000 | 15 LAKEFIELD CT | DANVILLE | 5 | 3 | 2806 |
| $1,250,000 | 960 REDWOOD DR | DANVILLE | 4 | 3 | 3032 |
| $1,280,000 | 17 STIRLING DR | DANVILLE | 4 | 2 | 3020 |
| $1,300,000 | 823 BUCKINGHAM PLACE | DANVILLE | 4 | 3 | 3464 |
| $1,590,000 | 2173 Deer Oak Way | DANVILLE | 5 | 3 | 3699 |
| $1,600,000 | 4286 SILVER MEADOW CT | DANVILLE | 4 | 3 | 3310 |
| $1,718,000 | 4174 Quail Run Drive | BLACKHAWK | 5 | 4 | 4026 |
| $1,872,969 | 5045 BLACKHAWK DR | DANVILLE | 4 | 3 | 4857 |
| $1,885,000 | 5439 BLACKHAWK DR | DANVILLE | 4 | 3 | 4595 |
Posted by QiRealtyEditor at 03:38 PM | Comments (0)
Homes Sold in Pleasanton (07/08/2005 - 07/15/2005)
| Price | Address | City | Bedrooms | Baths | Sq Ft Apx |
| $212,000 | 3263 Vineyard Ave. | PLEASANTON | 3 | 2 | 0 |
| $385,000 | 2341 FOOTHILL RD | PLEASANTON | 2 | 1 | 903 |
| $395,000 | 2134 ARROYO CT | PLEASANTON | 2 | 1 | 903 |
| $415,000 | 3419 NORTON WAY | PLEASANTON | 2 | 1 | 1089 |
| $450,000 | 3356 SMOKETREE CMS DR | PLEASANTON | 2 | 2 | 856 |
| $450,000 | 651 concord | PLEASANTON | 2 | 2 | 0 |
| $460,000 | 4407 SEMINOLE WAY | PLEASANTON | 3 | 1 | 1130 |
| $472,950 | 3885 BROCKTON DR | PLEASANTON | 3 | 1 | 1242 |
| $480,000 | 4701 SAGINAW CIR | PLEASANTON | 3 | 1 | 1130 |
| $490,000 | 685 PALOMINO DR | PLEASANTON | 2 | 2 | 1198 |
| $505,000 | 7710 Canyon Meadow Circle | PLEASANTON | 2 | 2 | 1043 |
| $510,000 | 5495 Black Avenue | PLEASANTON | 2 | 2 | 1345 |
| $597,000 | 4353 KRAUSE ST | PLEASANTON | 2 | 2 | 930 |
| $608,000 | 4106 MOLLER DR | PLEASANTON | 2 | 2 | 1369 |
| $630,000 | 7565 ROSEDALE CT | PLEASANTON | 3 | 2 | 1925 |
| $645,000 | 2447 BAY MEADOWS CIR | PLEASANTON | 3 | 2 | 1421 |
| $655,000 | 5308 Prato Ct. | PLEASANTON | 2 | 2 | 1365 |
| $660,000 | 4162 VINEYARD AVE | PLEASANTON | 0 | ||
| $665,000 | 7559 MAYWOOD DR | PLEASANTON | 3 | 2 | 1851 |
| $675,000 | 4226 Echo Ct. | PLEASANTON | 3 | 2 | 1372 |
| $679,000 | 6038 Corte Encinas | PLEASANTON | 3 | 3 | 1472 |
| $687,500 | 6048 CORTE MONTANAS | PLEASANTON | 3 | 3 | 1472 |
| $715,200 | 3044 BADGER DR | PLEASANTON | 3 | 2 | 1651 |
| $720,000 | 3471 ZION CANYON CT | PLEASANTON | 4 | 2 | 1829 |
| $730,000 | 2272 OAKLAND AVENUE | PLEASANTON | 4 | 2 | 1738 |
| $755,000 | 6208 GARNER CT | PLEASANTON | 4 | 2 | 1831 |
| $825,000 | 4044 NEVIS ST | PLEASANTON | 4 | 2 | 1757 |
| $850,000 | 1903 GREENWOOD RD | PLEASANTON | 4 | 2 | 1854 |
| $858,000 | 7028 Corte Nina | PLEASANTON | 4 | 2 | 2257 |
| $877,329 | 3310 VERMONT PL | PLEASANTON | 4 | 3 | 2260 |
| $885,000 | 1972 Paseo Del Cajon | PLEASANTON | 5 | 3 | 2358 |
| $890,000 | 6710 CORTE SANTA MARIA | PLEASANTON | 4 | 3 | 2284 |
| $900,000 | 3281 Burgundy Drive | PLEASANTON | 4 | 2 | 2050 |
| $901,000 | 5267 MEADOWWOOD CT | PLEASANTON | 4 | 2 | 2087 |
| $904,500 | 659 BONITA AVE | PLEASANTON | 4 | 2 | 1696 |
| $908,930 | 1892 PASEO DEL CAJON | PLEASANTON | 4 | 2 | 2033 |
| $960,000 | 2680 CALLE MORELIA | PLEASANTON | 4 | 2 | 2460 |
| $982,000 | 1669 E GATE WAY | PLEASANTON | 5 | 3 | 3155 |
| $1,200,000 | 3772 MOHR AVE | PLEASANTON | 4 | 3 | 2788 |
| $1,240,000 | 393 Oak Lane | PLEASANTON | 4 | 3 | 2462 |
| $1,450,000 | 662 ABBIE ST | PLEASANTON | 4 | 2 | 2600 |
| $1,500,000 | 2333 ROMANO CIR | PLEASANTON | 4 | 3 | 3252 |
| $1,950,000 | 1050 VIA DI SALERNO | PLEASANTON | 4 | 3 | 3924 |
| $2,176,100 | 1939 Armondo Court | PLEASANTON | 5 | 5 | 5839 |
| $2,450,000 | 1124 Piemonte Dr | PLEASANTON | 5 | 4 | 6000 |
| $3,000,000 | 27 GREY EAGLE CT | PLEASANTON | 5 | 3 | 5909 |
Posted by QiRealtyEditor at 03:35 PM | Comments (0)
California's Housing Affordability Index falls three points to 16 percent in May
The percentage of households in California able to afford a median-priced home stood at 16 percent in May, a 3 percentage-point decrease compared with the same period a year ago when the Index was at 19 percent, according to a report released today by the California Association of REALTORS® (C.A.R.). The May Housing Affordability Index (HAI) declined 1 percentage point from April, when it stood at 17 percent. For more information, visit California Association of Realtors.
Posted by QiRealtyEditor at 03:17 PM | Comments (0)
Mortgage Rate (07/15/05)
|
Mortgage Program |
This Week |
Last Week |
|
30 Year Fixed |
5.26% |
5.18% |
|
15 Year Fixed |
4.84% |
4.76% |
|
5/1 ARM |
4.72% |
4.63% |
|
30 Year Fixed Jumbo |
5.56% |
5.52% |
|
5/1 Jumbo ARM |
4.83% |
4.77% |
Posted by QiRealtyEditor at 03:13 PM | Comments (0)