Looking for signs…..
October 27, 2009
Newly released stats show that signed sales contracts were up for the seventh straight month in August. Construction spending also took an unexpected rise for the month of August displaying the biggest jump in housing activity in nearly 16 years. Is this sign that the housing market is recovering from a four year slump?
Sales are being fueled by a tax credit of up to $8,000, low mortgage interest rates, and cheap prices on forclosure properties. However, the tax credit is expiring on Nov. 30th and it is unclear if lawmakers want to continue to subsidize the market. Can we turn that into a positive sign, that the government thinks the market can stand on its own two feet?
In all but a few cities home prices are slowly starting to rise, reversing a 3 year decline. And for us here in the west, this is the really good news: Pending sales are up – 16% in the West, 8% in the Northeast, 3% in the Midwest and nearly 1% in the South. Pending sales are the current escrows trying to make it to close, of course not all will. But this nonetheless, can only been seen as yet another sign for improvement.
The reality is that housing experts are divided on whether price gains signal a definite bottom to the worst housing downturn in decades or just a brief respite from falling prices. Time will tell and we will continue to watch for signs.
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Escape to the Mendocino Coast
October 19, 2009
Last week I took a couple girlfriends over to my mom’s Beach House on the Mendocino Coast. The drive is long from Truckee, we literally went from one side of the state to the other. The scenery was spectacular all the way but particulary through the Anderson Valley as the vineyards displayed their fall colors. The arrival at California’s most spectacular coastline is never disappointing. Even though it was a stormy couple of days the tropical storm brought unseasonably warm temperatures along with the wind and rain making for an adventurous walk on the beach with the raging tide. We shopped in Mendocino, played games and worked on puzzles, drank plenty of wine and ate too much food! That makes for a great getaway in my book!
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Prosser
October 18, 2009
Sunday morning, one of the best times ever to ride your bike.
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Keller Williams Rocks in Tahoe Donner
October 15, 2009
Check out the most recent stats for sales in the Tahoe Donner subdivision. WE ROCK!!
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Update on Martis Camp
October 15, 2009
I got my newsletter today from Martis Camp, the newest upscale development out in Martis Valley. The information from it is very informative and positive. Since these lots are all developer sales, they are not on the multiple listing service (and won’t be until they are resales) so we really have no way of knowing what the statistics are except from the developer himself.
According to the developer, 40 properties have sold thus far since the beginning of 2009. 15 of these sales have been within the last 30 days. Over the past 3 years, 225 properties have sold for over $200,000,000. Besides these sales, Martis Camp claims that construction is booming out there also with 30 homes in design review, 35 homes under construction and 7 completed homes.
I haven’t been out to the property since “The Barn” was completed but I understand that the amenity package is coming together quite nicely. The crown jewel this winter will be the dedicated ski lift to Northstar. A homeowner in Martis Camp will not have to even leave his subdivision to go for a day of skiing — doesn’t get any better than that, right skiers? Be sure to give us a call if you want more information on this resort property.
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