Dayna Wilson Recent Real Estate Market News

Dayna Wilson Recent Real Estate Market News!

 Dayna Wilson Recent Real Estate Market News

Dayna Wilson Recent Real Estate Market News

3057 Kittery Avenue, San Ramon – SOLD! Received 14 offers, Sale $/Original $ 102%.

3383 Moraga Blvd., Lafayette – SOLD! 9 Offers. Closed at 114%% of asking $.

502 Daisy Place, Pleasant Hill – SOLD! Buyers purchased at list $

424 Peppertree Road, Walnut Creek – Pending. Multiple Offers. Will close well over asking.

With all the many offers we have received on our most recent listings, we have many buyers ready, able and willing to buy in the Contra Costa County area. Even thought homes are selling on average at 104% of list in Lafayette, 103% in Walnut Creek, teh story is almost the same in most neighborhoods. Please contact us should you learn of a friend, neighbor, co-worker or family member needing to sell their home in the shortest amount of time, for the most amount of money with the least stress. We will make it easy and maybe even fun.

Rock Oak Road, Walnut Creek 4/5 bedroom, 2.5 Bathroom 2 level. Coming Soon this summer!

Tice Creek Drive, Walnut Creek 2 bedroom, 1 bathroom Golden Gate Model in Rossmoor 55+ community. Coming this fall after extensive remodel!

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3 Real Estate Issues to Track

Now that election frenzy is over, here are some of the topics to track:

#1 The housing recovery. Will it continue? Local data shows us that sales are up, prices are holding steady, inventory is down and the number of days a house is staying on the market (DOM) before selling is down, as well. A new poll by shows that Americans are feeling better about the housing market and the percentage of those who are more likely to buy a house has risen 11 percent from 8 percent.

#2 Will the construction industry continue its slow steady recovery? A recent survey of 3,000 builders, architects, building supply distributors and others in the industry revealed 3 in 10 expect a “strong economy” by the end of 2013, and over half feel the economy will be “vastly improved” by 2015.

#3 How will the Making Home Affordable (MHA) Program extension and expansion effect the local markets? The deadline is extended until the end of 2013 and is expanding to folks that may be eligible for the Home Affordable modification Program (HAMP). This Supplemental Directive amends HAFA, as well. Changes to watch:
No longer occupancy requirements
It’s OK to stay current on your mortgage payments
Second lien holder may be authorized to receive $8,500, up from $6,000 for 2nd to release the lien
Borrowers relocation incentives limited to properties occupied by borrower or tenant at time of the Short Sale Agreement. “Occupant” can be: borrower, tenant, a borrower’s legal dependent, parent, grandparent that occupies rent-free, as well.

Stay tuned and let’s keep our fingers crossed!
Dayna’s Dash of Real Estate
Dayna Wilson – Keller Williams Realty DRE#10781285

5 Real Estate Predictions for 2011

1. Low mortgage rates. With Fed observers expecting the central bank to keep the federal funds rate at its current target range of 0 percent to 0.25 percent for most (or all) of 2011, relatively low mortgage rates will be a feature of the 2011 mortgage market. Thirty-year fixed-rate loans are likely to remain below 5 percent throughout the year, and initial rates of 5/1 hybrid adjustable-rate mortgages will likely remain below 4 percent in 2011.

2. Prices have hit bottom. House prices are likely to begin a gradual, but sustained recovery in the second half of 2011.

3. Housing will remain affordable. With affordability high, many first-time buyers will be attracted to the housing market in the New Year, likely translating into more home sales in 2011 than in 2010.

4. Refinances will dwindle. Many eligible borrowers have already refinanced and the federal Making Home Affordable refinance program is expiring on June 30. While fixed-rate loans are likely to remain low, they will move up gradually, making it even less likely that refinances will be attractive to most home owners.

5. Delinquency rates will decline. Based on the last several business cycles, the share of loans that are 90 or more days delinquent or in foreclosure proceedings — known as the “seriously delinquent rate” — generally crests within a year of the start of the recovery in payroll employment, and this economic recovery appears to fit within that pattern. Payrolls began to rise last January, and by the spring the seriously delinquent rate had begun to fall.

Source: Freddie Mac 12/9/10