According to the National Association of REALTORS®, the January 2012 Existing Home Sales showed 4.57 million units sold last month on a seasonally-adjusted, annualized basis — a 4 percent increase as compared to December’s revised figures.

An “existing home” is one that’s been previously occupied and cannot be categorized as new construction.

Exciting news for Pleasanton home sellers

Beyond the headline numbers, though, there was plenty about which for today’s Pleasanton home sellers to get excited. Demand for homes remains strong, foreshadowing higher home prices through 2012.

First, the national housing stock is at a 5-year low.

In January, the number of homes for sale nationwide slipped to 2.31 million, the smallest home inventory since February 2007, and a 21% decrease from just one year ago.

Falling home supply amid constant home demand leads home prices higher. At the current pace of sales, today’s complete home inventory would “sell out” in 6.1 months. 

Analysts say that a 6-month supply is a market in balance. Anything less is Bull Market territory.

Failed home Contract

Second, the National Association of REALTORS® says that one-third of all homes under contract “failed” last month. This means that many more buyers tried to buy, but couldn’t for a number of reasons including mortgage denials; or, insurmountable home inspections issues; or, homes appraising for less than the contract price.

As contract failures subside, Existing Home Sales are expected to rise even faster.

Renters Move to Homeownership

And, lastly, first-time buyers continue to power the home resale market. In January, 33% of all sales were made to first-time buyers, up four points from last year. This statistic suggests that renters are moving into homeownership, an important component in a sustained housing market recovery.  

Given high demand and shrinking supply, we should expect for Dublin Ranch home prices to rise in the coming months, if they haven’t already. Thankfully, mortgage rates remain near all-time lows. Low mortgage rates make homes more affordable. 

Home affordability has given you the option to own your own home so why not contact John DeMarinis and have him walk you through the home ownership process or if you’re ready to sell let him know he can market your home at the best marketvalue possible.

For representation in your Real Estate Purchase or Sale contact John DeMarinis the local Real Estate expert for the Dublin, Pleasanton, San Ramon, Danville, and Livermore area.

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Foreclosure filings fell 19 percent last month versus one year ago, says foreclosure-tracking firm RealtyTrac. It’s yet one more signal that the U.S. housing market may have already climbed off its bottom.

According to RealtyTrac, a ”foreclosure filing” is any one of the following foreclosure-related events : (1) A default notice on a home; (2) A scheduled auction for a home; or, (3) A bank repossession of a home.

In looking at the January 2012 figures :

• Default Notices were down 22% from January 2011
• Scheduled Auctions were down 19% from January 2011
• Bank Repossessions were down 15% from January 2011

Monthly Number Not So Promising

On a monthly basis, however, the numbers weren’t so promising.

Default notices and scheduled auctions were mostly unchanged, but bank repossessions rose 8 percent. The rise in bank repossessions is likely because 2010′s robo-signing controversy has been rectified at the state and lender level.

This trend toward more bank-owned homes is expected to continue through 2012.

As in most months, January’s foreclosure activity was geographically concentrated. Nevada led the nation in Foreclosures Per Capita, followed closely by California. 13 states fared worse than the national average of 1 foreclosure per 624 households. 37 fared better.

 Difference in foreclosure frequency

The difference in foreclosure frequency among the two groupings was stark :

• Top 13 Foreclosure States : 1 foreclosure per 435 households, on average
• Bottom 37 Foreclosure States : 1 foreclosure per 5,101 households, on average

North Dakota had January’s lowest foreclosure rate nationwide. Just 1 in 63,500 homes was in some form of foreclosure in North Dakota last month.

As a first-time or seasoned buyer in San Ramon, Dublin, Pleasanton, Danville and Livermore, foreclosed homes can be enticing. They’re plentiful and cheap. However, just because a foreclosed home can be bought for a “steal”, that doesn’t mean it’s worth buying. The process of buying a foreclosed homes is different from the process of buying a non-foreclosed home.

The contract-and-negotiation process may be different with a foreclosed property, and foreclosed homes are often sold “as-is”. This means the home you buy at auction could be run-down and defective to the point where it’s uninhabitable.

If you plan to buy a foreclosed home, therefore, have a real estate professional on your side. The Internet can teach you much about how the California housing market works, but when it comes to writing contracts, you’ll want John DeMarinis an experienced real estate agent that will be on your side.

For the best representation in your Real Estate Purchase or Sale contact John DeMarinis the local Real Estate expert for the Dublin, Pleasanton, San Ramon, Danville, and Livermore area.

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The housing market has carried forward its year-end momentum.

According to the Census Bureau, on a seasonally-adjusted, annualized basis, January’s Single-Family Housing Starts crossed the half-million unit marker for the second straight month.

Housing Momentum Increases

This hasn’t happened in close to 2 years and is the latest in a series of strong data that suggests the beleaguered housing market has turned a corner — both nationally and locally in Pleasanton and throughout the Tri-valley.

Although single-family starts slipped 1 percent from December, January’s annualized 508,000 figure represents a 16% spike from January 2011 and is the second-highest reading since April 2010 — the last month of 2010′s federal home buyer tax credit program.

A “housing start” is a new home on which construction has started.

The strength of January’s Housing Starts data surprised Wall Street analysts and is partially responsible for last Thursday’s unexpected mortgage rate spike.

In hindsight, though, we should have seen this coming.

Earlier in the week, the National Association of Homebuilders announced that homebuilder confidence had climbed to its highest point since 2007 amid builder reports of rising sales volume and the most foot traffic from buyers in more than 4 years.

In addition, builders expect to sell more homes in 2012 than in 2011.

Builders are building and buyers are buying

Meanwhile, as another sign of housing market strength, the Census Bureau reports that, in January, Building Permits moved to a multi-year high as well. Permits issued for single-family homes in January rose 1 percent from December, a statistic that suggests housing will continue its run through the spring season, at least.

86 percent of homes break ground within one month of permit issuance.

It’s a good time to be a home buyer. Mortgage rates and home prices are low. Housing market momentum, however, is building. If you’re on the fence about whether to buy a home in Dublin Ranch or Gale Ranch ask your real estate agent, John DeMarinis for additional market information.

The cost of home-ownership may never be as low as it is today.

For the best representation in your Real Estate Purchase or Sale contact John DeMarinis the local Real Estate expert for the Dublin, Pleasanton, San Ramon, Danville, and Livermore area.

Have a Question or Comment: Leave us a note

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New construction buyers in Dublin , look out. The nation’s home builders are predicting a strong 2012 for new home sales. It may mean higher home prices throughout the tri-valley as the spring buying season approaches.

For the sixth straight month, the National Association of Homebuilders reports that homebuilder confidence is on the rise. The Housing Market Index climbed four points to 29 in February, the index’s highest reading since May 2007.

The Housing Market Index

The Housing Market Index is now up 8 points in 8 weeks. The last time that happened was June 2003, a month during which the U.S. economy was regaining its footing, much like this month. It’s noteworthy that June 2003 marked the start of a 4-year bull run in the stock market that took equities up 54%.

The NAHB’s Housing Market Index itself is actually a composite reading. It’s the end-result of three separate surveys sent to home builders monthly.

The association’s questions are basic :

1. How are market conditions for the sale of new homes today?
2. How are market conditions for the sale of new homes in 6 months?
3. How is prospective buyer foot traffic?

In February, builders reported marked improvement across all three areas. Builders report that current home sales climbed 5 points; that sales expectations for the next 6 months climbed 5 points; and that buyer foot traffic climbed 1 point.

Home buyer are Ready to buy

Most notable of all of the statistics, though, is that the nation’s home builders report that there are now twice as many buyers setting foot inside model units as compared to just 6 months ago.

This data is supported by the monthly New Home Sales report which shows rising sales and a shrinking new home inventory.

Because of this, today’s new home buyers throughout Dublin, Pleasanton, San Ramon, Danville and Livermore should expect fewer concessions from builders at the time of contract including fewer price breaks on a home and fewer free upgrades. Builders are optimistic for the future and, therefore, may be less willing to “make a deal” so be prepare and contact your local tri-valley real estate expert, John DeMarinis.

This spring may mark the best time of year to buy a new home. 60 days forward, it may be too late.

For the best representation in your Real Estate Purchase or Sale contact John DeMarinis the local Real Estate expert for the Dublin, Pleasanton, San Ramon, Danville, and Livermore area.

Have a Question Or Comment-Leave us a note

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The U.S. economy continues to show signs of a rebound.

According to the Census Bureau, Retail Sales climbed to $329 billion last month on a seasonally-adjusted basis, excluding automobiles. January’s data marks the 18th time in 19 months that Retail Sales rose, a run that’s increased total sales receipts by 11 percent.

This is big news because Retail Sales accounts for close to 70% of the U.S. economy.

In addition, consumer confidence is rising.

In a separate, joint report from the University of Michigan and Thompson Reuters, it was shown that consumer attitudes toward the economy and the future are improving, primarily the result of recent job gains.

The Survey of Consumers posted its highest value in 12 months.

Consumer Confidence is High

It is not a coincidence that Retail Sales and consumer confidence both made multi-month highs — the readings are more than loosely linked. As consumers feel more confident about the economy and their personal prospects for the future, they’re more likely to spend money on goods and services, which leads to an increase in consumer spending.

For the housing market, the ramifications are two-fold.

First, from the financing side, an expanding economy is linked to rising mortgage rates. This is because Wall Street tends to chase risk in a growth economy and the bond market offers little in the way of risk. As demand for bonds drops, then, mortgage rates rise throughout the tri-valley.

Second, rising consumer confidence can lead Pleasanton, San Ramon, Danville, Livermore, and Dublin home values higher, too.

Consumers more Confident to Buy A Home

Confident consumers are more likely than fearful ones to become home buyers. They’re more likely to stop renting and start buying; more likely to list their home and “move-up” to something bigger; more likely to “take the next step”.

So, as more buyers enter the market at a time when the national home supply is shrinking, the supply-demand balance in housing is shifting toward the sellers. This creates price pressures and should lead to higher home valuations in neighborhoods like Dublin Ranch and Gale Ranch.

If you have plans to buy a home in 2012, the best time to buy may be now. Today’s mortgage rates are low and so are the home prices — a combination that’s unlikely to last.

For the best representation in your Real Estate transaction contact John DeMarinis the local Real Estate expert for the Dublin, Pleasanton, San Ramon, Danville, and Livermore area.

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515 Knollwood Ct. Danville

Extraordinary Danville Find! Striking remodeled home. Stunning floor plan. Cathedral ceilings. Elegant arches. Plantation shutters. Highly upgraded chef’s kitchen. New Stainless appliances. Hand-scraped hardwood floors. Superior plush carpeting. Deluxe Master suite-fireplace and bath retreat. Private setting. Situated in the Shadow Creek area.

 Open Sunday from 1-4

This home is Ready for you! Check out the virtual Tour

Property Details of 515 Knollwood ct.

School Information by 515 Knollwood Danville

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Economists believe the strength of the 2012 housing market will be closely tied to jobs. If they’re right, the housing market is ripe for a boost. It spells good news for Dublin home sellers and may mean the end of bargain-basement prices for buyers.

Since peaking in mid-2009, the number of U.S. workers filing for first-time unemployment benefits has dropped 44 percent. Over the same period of time, the U.S. economy has added more than 2 million jobs and the national Unemployment Rate is down more than 1 percentage point to 8.3%.

 Housing market of Dublin Ranch

Employment’s link to the housing market of Dublin Ranch is both economic and psychological.

To make the economic link is straight-forward. A person with a job earns verifiable income and such income is required in order to be mortgage-eligible. For conventional and FHA purchase loans, for example, mortgage lenders want a home buyer’s monthly income be more than double his monthly debts.

For the formerly unemployed that have since returned to work, having a full-time income makes buying homes possible. It also supports higher home valuations nationwide because home prices are based on supply-and-demand. All things equal, when the number of buyers in a market goes up, prices do, too.

The psychological connection between housing and employment is a tad more complicated, but every bit as important. It’s not just out-of-work Americans that don’t look for homes — it’s fearful Americans, too. People with concerns about losing a job are just as unlikely to shop for homes as people actually without a job. The same is true for people unsure of their prospects for a better-paying job, or their own upward mobility.

A recovering job market can lessen those fears and draw out buyers in the tri-valley — especially those who face a loss on the sale of an “underwater” home.

The Initial Jobless Claims rolling 4-week average is at its lowest level since 2008. Fewer Americans are losing jobs, and more are finding permanent placement.

It’s one more reason to be optimistic for this year’s housing market.

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Credit scores play a huge role in today’s mortgage market — larger than at any time in recent history. Blame it on the high default rates of the last half-decade. Lenders are reserving their lowest rates for the customers most likely to make on-time repayments.

Low Rates in Dublin

Mortgage rates are at an all-time low in Dublin. However, the low rates you see advertised on TV and online are only available to the home buyers and would-be refinancers whose credit scores are pristine. Having a high credit score is often the difference between getting “the best rates” from your lender, and getting something worse.

The first part of improving your credit score is understanding how it works. In this 5-minute piece from NBC’s The Today Show, you’ll learn the basics :

• Why you shouldn’t close a credit card after you pay off a large debt
• What is the maximize balance to leave on your credit cards, relative to your credit limit
• What types of credit checks harm your credit scores, and which ones don’t

You’ll also learn how to shop for a mortgage with multiple lenders without having your credit score “dinged”, as well as several proven methods to raise your credit score quickly.

In the end, good credit scores are the result of paying bills on time and staying with your means. Those with the best scores, get the best rates.

For the best representation in your Real Estate transaction and loan assistance contact John DeMarinis the local Real Estate expert for the Dublin, Pleasanton, San Ramon, Danville, and Livermore area.

Have a Question or Comment:

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737 Rock Rose Way in Richmond

Clean as a pin! Sparkling country club home.This is the best value in the country club area. Light and bright throughout. New appliances. Fresh interior paint. Neutral colors. Plush carpets. Large master with walk-in closet. Very spacious and open floor plan. Move-in ready. Your buyers will love it!

This Home is Ready for You!

 Property Details of 737 Rock Rose Way

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7750 Canyon Meadow in Pleasanton

Private.Serene Pleasanton location.Light and bright.Top floor.End unit.This is a home you don’t want to miss.Tile floors.New plush carpeting.GE ss appliances.Granite counters.New kitchen cabinets.Nice details throughout.Well managed Hoa.Abundant amenities.Clean and manicured complex.All at an affordable lifestyle in pleasanton.A real 10. Great Pleasanton schools. Just hop away from Stoneridge mall in pleasanton and 580 & 680 freeway access.

This home is ready for you!

Property details: Canyon Meadow cir.

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