The Tri-Valley Real Estate Source - TriValleyVine.com http://trivalleyvine.com Conversations on the Tri-Valley Real Estate Market and More Sat, 16 Aug 2008 06:48:19 +0000 http://wordpress.org/?v=2.5.1 en Why the Housing Market Will Not Recover in the Near Future http://trivalleyvine.com/2008/08/15/why-the-housing-market-will-not-recover-in-the-near-future/ http://trivalleyvine.com/2008/08/15/why-the-housing-market-will-not-recover-in-the-near-future/#comments Sat, 16 Aug 2008 06:48:19 +0000 Adam Golden http://trivalleyvine.com/?p=164 Housing Market Still to SufferToday, I am going to play Devil’s Advocate.  This is part 1 of 2 for a blog series reporting on opposing views of the direction of the housing market.  Next up - a post on ‘Why the Housing Market Will Recover in the Near Future’.

Here are five reasons why the housing market is in for a long recovery period:

  1. Defaulting Prime Mortgages
  2. Inventory Supply
  3. Restricted Credit
  4. Sale Prices Don’t Cover What Sellers Originally Paid
  5. Another Round of Adjustable Rate Mortgages are Scheduled to Reset

Each one of these reasons is damaging to a housing market in itself.  However, when combined, we could be in for a much longer road to recovery than some think.

Defaulting Prime Mortgages

It is an obvious statement that the growing number of defaulting mortgages are a problem for our housing market.  But did you know there are various types of mortgages defaulting, and that each one has their own impact? One type of mortgage causing a heap of trouble is the number of subprime loans that have defaulted over the last year and a half.

A second type is the recent flood of Alt-A loans that have defaulted. For those of you who may not know, this loan product is a class between prime and subprime loans. In most cases, it does not require strict documentation of a borrower’s assets or income.  These two loan types factored into helping set the housing meltdown in motion.

The item that may keep us in a housing predicament for longer than some expect, though, has to do with the prime mortgage. Prime mortgages are starting to default at an alarming rate. According to LoanPerformance, a company that analyzes residential mortgage statistics, the delinquency rate for prime mortgages worth less than $417,000 was 2.44% in May, compared with 1.38% a year earlier. Delinquencies for prime loans of more than $417,000 (jumbo loans) exploded to 4.03% of outstanding loans in May, compared with 1.11% a year earlier.

Inventory Supply

As a Realtor, one statistic that I closely watch is the number of homes available for sale.  For my area of expertise, the Tri-Valley in Northern California, inventory numbers have remained relatively the same over the last year.  This indicates that even though the market may be transacting, inventory is quickly being replenished with new active homes.  If we start to see more foreclosed properties enter into the market, this will only add to an already large supply of homes on the market.

Restricted Credit

The third component that may play a role in a slower housing recovery is the ever-changing lending world.  Lending standards have been tightening over the last few months and a tightening effect will make it more difficult for new borrowers to find loans.  The result will be less demand for homes and, in turn, inventory may increase.

Sale Prices Don’t Cover What Sellers Originally Paid

More homeowners than ever are selling at a loss. Zillow.com reports that nearly 25% of all homes sold nationwide (in the last year) sold for less than sellers originally paid. Homeowners are walking away with less in their pocket when they sell.

“It’s stunning what’s happening out there,” said Stan Humphries, Zillow’s vice president of data and analytics, who looked at statistics that date back to 1996. “The numbers are the worst we’ve seen and it’s not just the magnitude of the problem but the scope - so many markets are affected.”

Here are some other statistics from Zillow that magnify the problem in certain areas: Over 60% of sellers in Stockton, Calif., lost money during the same period,  about 60% in Modesto, Calif., 55% in Las Vegas and 38% in Phoenix.

Another Round of Adjustable Rate Mortgages are Scheduled to Reset

According to the National Association of Realtors, more than $200 billion in adjustable rate mortgages are scheduled to reset during the second half of 2008. The change in the adjustable rate on consumer’s mortgages may put some in a position where they may not be able to afford their monthly payment.  This may lead to even more short sales and foreclosures entering in to the market.

]]> http://trivalleyvine.com/2008/08/15/why-the-housing-market-will-not-recover-in-the-near-future/feed/ Just Another Day in the Life of a Tri-Valley Realtor: My Dublin Real Estate Experience http://trivalleyvine.com/2008/08/09/just-another-day-in-the-life-of-a-tri-valley-realtor/ http://trivalleyvine.com/2008/08/09/just-another-day-in-the-life-of-a-tri-valley-realtor/#comments Sat, 09 Aug 2008 17:28:41 +0000 Adam Golden http://trivalleyvine.com/?p=163 I woke up and sat on the side of my bed. Immediately, my thoughts led me to one of my Dublin listings scheduled to fund in the morning hours and record in the afternoon. Some of you might be asking why my first waking thought was of work, but for me it’s like that most days. 

I don’t want to sound cheesy, but I really do care about my clients.  I develop close relationships with my clients, and our relationship most times crosses over to friendship.  On this particular morning and for this particular client, it was no different.  Over the course of the transaction we had become friends, and there was nothing more that I wanted than to close out this deal for him.

While getting the kids ready for school, I focused on keeping a positive vibe about my day.  I drove out to my client’s house to make sure that it would be just right for the buyers on their move-in day.  To my surprise, I discovered a turn of events that no Realtor wants a few hours away from closing.  How it was resolved is what every Realtor knows is an essential skill when you work in real estate - decisive problem solving.  Check out the vlog for the full story.

Quick Update:  My client’s property in Dublin ended up recording that same day.  The item was not covered by the warranty, and we have scheduled for full replacement and repair to be completed early in the following week. All parties involved are happy with the outcome and quick resolution.

]]> http://trivalleyvine.com/2008/08/09/just-another-day-in-the-life-of-a-tri-valley-realtor/feed/ Another 10 Great Things to do Right Outside of the Tri-Valley http://trivalleyvine.com/2008/08/04/another-10-great-things-to-do-right-outside-of-the-tri-valley/ http://trivalleyvine.com/2008/08/04/another-10-great-things-to-do-right-outside-of-the-tri-valley/#comments Tue, 05 Aug 2008 04:18:14 +0000 Adam Golden http://trivalleyvine.com/?p=162 Point Reyes LighthouseDo you ever find yourself wanting to explore beyond the Tri-Valley area?  Here are 10 additional ideas to get you and your family more excited about the Bay Area.

1.  Attending a Golden State Warriors Game
2.  Attending an Oakland Raiders Game
3.  Exploring the Bay by Ferry from Jack London Square or Alameda
4.  Supporting local museums
5.  Checking out local street sculptures and murals
6.  Strolling Old Town Oakland
7.  Visiting the Chabot Space and Science Center
8.  Going for a ride on the Tilden Steam Trains
9.  Visiting Sausalito
10.  Stopping by the Point Reyes Lighthouse

See related posts:

10 Great Things to do Right Outside of the Tri-Valley

10 Great Things to do in the Tri-Valley

]]> http://trivalleyvine.com/2008/08/04/another-10-great-things-to-do-right-outside-of-the-tri-valley/feed/ End of July Tri-Valley Real Estate Update http://trivalleyvine.com/2008/07/31/end-of-july-tri-valley-real-estate-update/ http://trivalleyvine.com/2008/07/31/end-of-july-tri-valley-real-estate-update/#comments Fri, 01 Aug 2008 06:21:58 +0000 Adam Golden http://trivalleyvine.com/?p=161 End of July Tri-Valley Inventory

The following consists of real time inventory numbers for Danville, Dublin, Livermore, San Ramon and Pleasanton. Here are the stats for the Tri-Valley cities for the end of July.

]]> http://trivalleyvine.com/2008/07/31/end-of-july-tri-valley-real-estate-update/feed/ Corked in San Ramon http://trivalleyvine.com/2008/07/25/corked-in-san-ramon/ http://trivalleyvine.com/2008/07/25/corked-in-san-ramon/#comments Sat, 26 Jul 2008 06:23:54 +0000 Adam Golden http://trivalleyvine.com/?p=160 Corked Wine San RamonDoes your wine smell like a wet newspaper?  If it does, you’ve probably been corked.

I experienced what I believe to be my first “corked” bottle of wine last night. After opening the bottle, I poured a small amount into my glass for a taste.  I immediately noticed the wine was cloudy.  I held the glass up to the light and it was very difficult to see through.  I shoved my nose in the glass and that’s when I got another surprise - the smell of wet newspaper.  It smelled just plain ol’ musky and moldy.

A wine reference site estimates that as many as 3% to 7% of all wines have contamination at levels that can be detected by consumers.  Most of the time a wine is deemed “corked” when it was bottled with a contaminated cork, but wine can even be considered “corked” due to contaminated barrels or other contaminated wood during its aging process. The result of the contamination leads to that unfortunate damp newspaper smell. When you taste a corked wine, it tends to be very astringent.

Including being corked, there are four most common defects that could ruin a bottle of wine.  According to an article in New York Magazine, these defects are when the wine is corked, oxidized, maderized or refermented.

Being a member of the corked club is not what irks me -it’s the fact that I had to waste my whole bottle of wine.

]]> http://trivalleyvine.com/2008/07/25/corked-in-san-ramon/feed/ Del Valle in Livermore http://trivalleyvine.com/2008/07/21/del-valle-in-livermore/ http://trivalleyvine.com/2008/07/21/del-valle-in-livermore/#comments Mon, 21 Jul 2008 20:38:50 +0000 Adam Golden http://trivalleyvine.com/?p=159 Fishing at Lake Del Valle in LivermoreI’ve noticed one thing these last few weeks - the summer sure seems to go a lot smoother when the kids are active.  This summer, we’ve decided to try to take lots of Bay area day trips both to keep the kids busy and to explore this fantastic place we are fortunate enough to call home - the Tri-Valley. 

One of our favorite recent getaways was a trip to Livermore’s Del Valle.  The beauty of this trip is that it keeps you in the Tri-Valley area but provides a whole day of fun for the family.

My family and I enjoyed every minute of our trip to Del Valle.  Depending on where you are in the Tri-Valley, the destination is definitely within an hour.  It takes about 35-45 minutes from the 580/680 interchange.

Once you meander through some of the winding country roads that Livermore has to offer, you find yourself quickly entering the main gate where there is a $6 vehicle entrance fee. If you have a dog it is an additional $2 fee. There is lots of parking, restrooms, a pay phone, and drinking water on site. Maps are available.

There are a number of things to do at Lake Del Valle. The centerpiece of the park is a five mile long lake.  The lake is surrounded by over 4000 acres which allow for hiking and horseback riding. Additional park activities include two swimming beaches with lifeguards on duty during posted periods, picnicking that can be reserved if you have a larger party, camping with over 150 sites, fishing, and boating (rental of motorboats and other boats are available at the marina area).Swimming at Lake Del Valle in Livermore

Our visit to Lake Del Valle was mid-week, and I have heard from a number of Del Valle regulars that a great time to visit the lake with minimal crowds is on a week day.  We happened to get there pretty early, and it seemed that we were almost alone on the lake.  Once we finished our trip and decided to head home, there were plenty of boaters and swimmers enjoying themselves in the sunshine.

]]> http://trivalleyvine.com/2008/07/21/del-valle-in-livermore/feed/ Unique Herding Method Captured Near Point Reyes http://trivalleyvine.com/2008/07/16/unique-herding-method-captured-near-point-reyes/ http://trivalleyvine.com/2008/07/16/unique-herding-method-captured-near-point-reyes/#comments Thu, 17 Jul 2008 00:33:49 +0000 Adam Golden http://trivalleyvine.com/?p=158 On a recent trip to Point Reyes, my vehicle was abruptly stopped in order to let the passing of 100 or so cows cross the road.  I looked over the hill where the cows were streaming from, well aware of what was to come - a herding dog.  I quickly showed the kids and pointed in the direction over the hill.  I knew we were about to see a herding dog in action. 

As a kid in Arizona it was a rare opportunity to see herding dogs.  The few times I did, I found it fascinating to watch how the dog knew to run back and forth working the animals into a defined location.  It appeared that I was about to get another opportunity. 

The march of cows moved at a frantic pace toward their holding spot. After a few minutes, the number of cows started to dwindle over the hill.  The herding dog was next.  Crazily, a herding dog did not appear.  The sound of an engine filled the air.  It appears there is a trend sweeping the nation’s farming community! An All Terrain Vehicle (ATV) exploded over the hillside.

New Herding Method in Point Reyes

Look for additional posts on my adventures outside of the Tri-Valley area.

]]> http://trivalleyvine.com/2008/07/16/unique-herding-method-captured-near-point-reyes/feed/ San Ramon Program Helps Recycle Plastic Bags Curbside http://trivalleyvine.com/2008/07/12/san-ramon-program-helps-recycle-plastic-bags-curbside/ http://trivalleyvine.com/2008/07/12/san-ramon-program-helps-recycle-plastic-bags-curbside/#comments Sun, 13 Jul 2008 00:26:49 +0000 Adam Golden http://trivalleyvine.com/?p=155 San Ramon Program Helps Recycle Plastic Bags CurbsideHave you ever considered how many plastic bags you use and then dispose of during the year?  If you are like most people the number is too many.  Also, you probably don’t realize that plastic bags are made from costly, nonrenewable oil resources, and they are a direct threat to wildlife if not properly disposed. 

As an EcoBroker, I happily report any potential solutions that could eliminate stress on the environment.  Recently, I read a circular from Valley Waste Management that offered potential solutions for San Ramon residents in dealing with plastic bags.

The first solution is that Valley Waste Management has started a program, Bag-a-Bag, that makes it easy for San Ramon residents to recycle plastic bags. If you live in the communities of Dublin, Livermore, Pleasanton and Danville contact your local Waste Management company to see if they have a similar program.  The steps are easy.  Just collect all the acceptable plastic items in one plastic grocery bag and tightly tie a knot in the bag.  The tied grocery bag should then be placed in your Recycling cart before closing the lid.  These plastic bag bundles will be transferred to a facility where sorters segregate the bundles. These bundles are then sold to companies that remanufacture them into numerous products.

Another suggested solution is to use reusable totes.  My wife and I purchased reusable totes from our local supermarket and use them whenever we go to a place where we bundle our purchased goods. Valley Waste Management reports that one reusable tote can potentially eliminate the need for 1,000 single-use plastic bags over its lifetime.  Did you know that, working together, Californians could save about 2,000 barrels of oil every day by cutting back on our plastic bag use? 

]]> http://trivalleyvine.com/2008/07/12/san-ramon-program-helps-recycle-plastic-bags-curbside/feed/ Property Tax Bill to Change for Dublin Homeowners http://trivalleyvine.com/2008/07/05/property-tax-bill-to-change-for-dublin-homeowners/ http://trivalleyvine.com/2008/07/05/property-tax-bill-to-change-for-dublin-homeowners/#comments Sat, 05 Jul 2008 18:05:31 +0000 Adam Golden http://trivalleyvine.com/?p=156 Property Tax Bill to Change for Dublin HomeownersThe Dublin San Ramon Services District (DSRSD) recently made a change that directly impacts Dublin residents’ property tax bills. Up until July 1, wastewater service charges were paid separately by Dublin homeowners in a bi-monthly fashion.  This system has now been changed.  Beginning in July, wastewater services will be paid twice a year along with Dublin homeowners’ property taxes.

The annual wastewater service charges will appear on Dublin residents’ property tax bills starting this fall.  The annual wastewater service charges for July 1st, 2008 - June 30, 2009 are reported to be as follows:

  • Single family home: $292.08/year
  • Townhouse or condominium: $202.56/year

One thing to note is that Dublin homeowners who have an impound account established may receive a supplemental bill from their lenders during the transition.  If you do not receive a supplemental bill and you have an impound account, I advise following up with the Alameda County Assessor’s Office  and staying in communication with your lender to determine how and when the supplemental bill will be delivered and is expected to be settled.

Another note, this change does not affect Pleasanton residents or Dublin’s commercial and industrial customers who pay metered charges for wastewater services.

To confirm how this change affects you and for more information and questions, you may call DSRSD’s customer service staff at 925.828.8524.

]]> http://trivalleyvine.com/2008/07/05/property-tax-bill-to-change-for-dublin-homeowners/feed/ End of June Tri-Valley Real Estate Update http://trivalleyvine.com/2008/07/01/end-of-june-tri-valley-real-estate-update/ http://trivalleyvine.com/2008/07/01/end-of-june-tri-valley-real-estate-update/#comments Wed, 02 Jul 2008 05:09:36 +0000 Adam Golden http://trivalleyvine.com/?p=152 The following consists of real time inventory numbers for Danville, Dublin, Livermore, San Ramon and Pleasanton. Here are the stats for the Tri-Valley cities for the end of June:

Tri-Valley June Real Estate Update

]]> http://trivalleyvine.com/2008/07/01/end-of-june-tri-valley-real-estate-update/feed/ Tri-Valley Senior Games is Coming Soon http://trivalleyvine.com/2008/06/26/tri-valley-senior-games-is-coming-soon/ http://trivalleyvine.com/2008/06/26/tri-valley-senior-games-is-coming-soon/#comments Fri, 27 Jun 2008 03:33:28 +0000 Adam Golden http://trivalleyvine.com/?p=149 Are you 50 years of age or older, enjoy competition and want to test your talent against other Tri-Valley residents? If so, the “580/680 Senior Games” takes place on September 19th through the 21st. This is a great opportunity for adults 50 years of age and older to compete in a variety events. Events are being held throughout the Tri-Valley. Danville plays host to the tennis competition. Livermore is holding the softball event. San Ramon is in charge of swimming. Pleasanton gets the honor of ballroom dancing. And, Dublin completes the list with bowling. Registration is taking place now and information packets are available at the participating Senior Center sites. The 580/680 Senior Games Hotline can be reached at (925) 973-3255.

]]> http://trivalleyvine.com/2008/06/26/tri-valley-senior-games-is-coming-soon/feed/ San Ramon’s Salon Terrazzo Holds Charity Event to Fight Cancer http://trivalleyvine.com/2008/06/19/san-ramons-salon-terrazzo-holds-charity-event-to-fight-cancer/ http://trivalleyvine.com/2008/06/19/san-ramons-salon-terrazzo-holds-charity-event-to-fight-cancer/#comments Fri, 20 Jun 2008 04:49:03 +0000 Adam Golden http://trivalleyvine.com/?p=148 San Ramon’s Salon Terrazzo is playing host to the 1st Annual Relay for Life Cut-A-Thon.  This event is taking place on Sunday, June 22nd from 11:00AM to 5:00PM at Salon Terrazzo, 12131 Alcosta Blvd in San Ramon.  A minimum donation of $30 includes shampoo, haircut and blow dry by their stylists for men, women and children. 

All of the proceeds go directly to the American Cancer Society.  There will be refreshments, door prizes and a raffle.  Appointments are preferred but walk-ins are also welcome.  To participate, please call (925) 833-8085.

]]> http://trivalleyvine.com/2008/06/19/san-ramons-salon-terrazzo-holds-charity-event-to-fight-cancer/feed/ Volunteer - It Will Change your Life http://trivalleyvine.com/2008/06/15/volunteer-it-will-change-your-life/ http://trivalleyvine.com/2008/06/15/volunteer-it-will-change-your-life/#comments Mon, 16 Jun 2008 07:03:38 +0000 Adam Golden http://trivalleyvine.com/?p=146 Another regular season of baseball is wrapping up in the Tri-Valley.  My son played his last game on Monday for a league in San Ramon and just had his end-of-season party.

Watching and participating with all of the dads and moms volunteering on and off the field filled me with gratitude towards these dedicated parents.  Being a head coach, an assistant coach, a team mom, working at the “snack shack,” keeping score, working at picture day, etc. - all of these roles take a lot of time and devotion.  Without these parents volunteering their time throughout the season, the baseball experience would not be the same for any of our children.

Some may say it is simply a duty to volunteer.  And in some ways, it is if you have children.  But if you’ve ever been a head coach or an assistant coach (and I’ve been both in different sports), or a team mom or worked for the league, you know it takes so many hours throughout the season.  Not only are you working with your child, but 8-15 others!  It is not always a cinch to be organized and energized while getting that many kids to listen, work on their drills, be excited about improving their play, pay attention during practice and their games - and do it all safely while having fun! 

So, I am writing this post to express my gratitude and appreciation to all of the parent volunteers out there.  And this doesn’t just have to do with sports. 

I watch the countless hours of parent volunteerism at my son’s school and am amazed.  I volunteer my time certainly, but there are people who are there day after day, week after week giving their time and patience to the kids.  If they can’t come to the school during school hours, I know parents who volunteer after school at home during their own time, cutting, prepping, organizing teacher gifts, and/or purchasing supplies at night.  Without these parents, our kids’ school would be a much different place, too.

It is with gratitude and respect for parent volunteers that I write to thank you at the end of this baseball season and school year.  I know my own son’s experience and that of his team and classmates is enriched for your time spent in dedication.  Thank you.

 

]]> http://trivalleyvine.com/2008/06/15/volunteer-it-will-change-your-life/feed/ R-O-D-E-O spells Rodeo. That is, with a Livermore twist. http://trivalleyvine.com/2008/06/13/r-o-d-e-o-spells-rodeo-that-is-with-a-livermore-twist/ http://trivalleyvine.com/2008/06/13/r-o-d-e-o-spells-rodeo-that-is-with-a-livermore-twist/#comments Sat, 14 Jun 2008 04:52:04 +0000 Adam Golden http://trivalleyvine.com/?p=144

You may want to go into your closet and start dusting off your cowboy hat and chaps.  The 90th Annual Livermore Rodeo rolls into town during the weekend of June 14th and 15th. The festivities are held annually and are located at Robertson Park in Livermore.  Don’t miss this opportunity or the Rodeo Parade that precedes the event. The parade begins Saturday monrning and goes through the Livermore Downtown area. This will be fun for the whole family.

]]> http://trivalleyvine.com/2008/06/13/r-o-d-e-o-spells-rodeo-that-is-with-a-livermore-twist/feed/ Hit the Road Handheld-Calls-While-Driving! http://trivalleyvine.com/2008/06/08/hit-the-road-handheld-calls-while-driving/ http://trivalleyvine.com/2008/06/08/hit-the-road-handheld-calls-while-driving/#comments Sun, 08 Jun 2008 21:27:50 +0000 Adam Golden http://trivalleyvine.com/?p=141 Two new laws are about to go into effect on July 1, 2008 not only for the Tri-Valley, but for the entire state of California.  The first prohibits all drivers from using a handheld wireless telephone while operating a motor vehicle.  The second allows motorists 18 and over to use a hands-free device.  However, for drivers under the age of 18 it is illegal to use a wireless telephone or a hands-free device while operating a motor vehicle.

The law allows a driver to use a wireless telephone to make emergency calls to law enforcement agencies, a medical provider, the fire department, or other emergency services agency.

The big question for many will be the penalties.  First time offenders will be subject to a $20 fine and subsequent offenses will be $50.  The violation is a reportable offense; however a point will not be placed on the driver’s record.

One item to note is that this law only applies to the driver.  Passengers are free to talk away on their cell phones.

]]> http://trivalleyvine.com/2008/06/08/hit-the-road-handheld-calls-while-driving/feed/