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Spring Real Estate Sales Show Price Increases for Livermore Valley!

May 18, 2012 By Leave a Comment

There’s good news in Livermore Valley real estate this spring! According to the California Association of Realtors, median home prices statewide increased to $308,050 during April 2012. This is a 5.7% price increase from March 2012, and a 4.7% increase from a year ago. California median home prices have not been above $300,000 since December 2010.

Here in Alameda County, we are experiencing an upswing in both home prices and sales activity! The median home price increased from $425,000 in March 2012 to $456,910 in April 2012. Overall sales volume is up 12.5% from a year ago.

The days on market for an Alameda County home averaged 61.4 during April, down from 74.6 in March, and down from 69.4 a year ago.

Reduced home inventories, combined with an improving economy, have boosted home prices throughout the Livermore, Pleasanton and Dublin communities. However, we still have distressed properties on the market, and an unknown amount of foreclosures that have yet to be processed through the system. Homes will have a variety of price points depending on the unique factors involved in each local market.

There is also some urgency concerning short sales, as the Mortgage Debt Relief Act of 2007 will expire this December. Under the Mortgage Debt Relief Act, distressed home sellers are spared income tax burdens that could otherwise apply to discharged mortgage debt. Home sellers with negative equity have a strong incentive to complete their short sale transactions during 2012.

That fact, combined with recent short sale process improvements by Freddie Mac and Fannie Mae, could fuel more short sales activity this year. If you have questions about how a short sale could impact your future tax filing, visit the topic on IRS.gov and see your professional tax preparer.

When you have questions about the Livermore Valley real estate market, contact me! I have the local market expertise you can count on for Livermore, Pleasanton and Dublin! Whether you are buying or selling a home, or “just looking“, I can provide the latest market data and the professional guidance you need.

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
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Enjoy Spring and Summer Fun in Livermore Valley!

April 13, 2012 By Leave a Comment

Livermore Valley is a great place to live, and it gets even better during our famous events! Here’s a quick rundown of our upcoming festivals!

Our wine-making heritage is proudly celebrated during the Livermore Wine Country Festival, held in beautiful downtown Livermore on May 5 and 6. Sample the region’s best wines and handcrafted beers! If you don’t wish to imbibe, you can still enjoy over 200 vendor booths offering delicious foods, beautiful art, and jewelry, clothing and more! There is a family-friendly kids area too!

Next, take Mom out for a day in Dublin! Antiques, crafts, French cuisine and jazz music will surround Dublin Heritage Park on Saturday, May 12. Bring a picnic lunch and relax during the free concert, or partake in family activities around the park.

If you enjoy antiques, don’t miss the Spring Antiques and Collectibles Street Faire in downtown Pleasanton on May 27! It’s a collector’s paradise, full of one-of-a-kind items and curiosities.

Celebrate our western history with the Chili Shooters Stampede in downtown Livermore on June 2! Sample unique chili creations and enjoy western themed activities! This event kicks off Western Heritage Month, featuring the world’s fastest rodeo, along with country-western concerts, movies, and more!

Whether you prefer a relaxing day in the country, or the festivals in our vibrant communities, Livermore Valley has something for everyone! As your Livermore Valley real estate professional, I’m proud to call this area home, and I’m happy to share information about Livermore Valley events. When you’re buying or selling a home in Livermore, Pleasanton or Dublin, I’ll be ready to help you! Always feel welcome to contact me with your real estate questions.

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
View Livermore Listings
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Avoid High California Rent – Buy a Livermore Valley Home!

March 15, 2012 By Leave a Comment

The latest report from the National Low Income Housing Coalition included grim news for California renters. Based on the average hourly wages of a California worker, the median monthly California rents are unaffordable for the majority of tenants. California ranks just below Hawaii when it comes to expensive rentals, with New Jersey, Maryland and New York rounding out the top five states.

The problem is more serious for minimum-wage earners and those living on a fixed income. Per the Coalition’s report, minimum wage workers cannot afford average rents anywhere in the country. What’s more, even those who are earning twice the minimum wage cannot afford average rents in 86% of the country. This leaves a good number hard-working people out in the cold.

Rent increases have been boosted by improvements in the economy and the job market. Rental demand is on the increase and vacancy rates are at their lowest points in recent history. Meanwhile, the construction of new apartments has been dampened by tight commercial lending. Simply put, supply hasn’t been able to keep up with demand, and it probably won’t catch up for years. It’s a great time to be a landlord - but not a renter!

With so many affordable Livermore Valley homes on the market, home ownership deserves another look. A fixed-rate mortgage gives you better control of your monthly housing expenses, long-term, than an annual lease. Why pay escalating rents for years to come, when you can have more room, more control, and better living for the money in a Livermore Valley home? Interest rates are low, there’s a great selection of homes, and the down payment on an FHA mortgage can be as low as 3.5%.

As your professional Livermore Valley real estate agent, I understand the factors behind our market statistics. I also understand the concerns of today’s buyers! The mortgage, the appraisal, the property inspection – there are a number of details that need to be handled. Whether you are a first-time buyer, or looking for an investment property, I can help! My market expertise can help you find a great opportunity in Livermore Valley real estate!

If you are buying or selling a Livermore Valley home, I have the experience that makes a difference. If you have questions about real estate in Livermore, Dublin or Pleasanton, give me a call today! 

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
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Update for California Real Estate and Livermore Valley

February 17, 2012 By Leave a Comment

Looking for direction in the Livermore Valley real estate market? Here’s the latest from the California Association of Realtors, and where we fit into the picture:

Statewide, California saw a decline in home sales last month, with January 2012 sales volume 0.6 % less than December 2011. Home prices throughout the state softened by 6.7% from December 2011.  Closer to home, Alameda County home sale prices dipped by 12% from December 2011 through January 2012.

Why the decline? In January, California experienced a surge in the number of distressed properties hitting the market.  Many foreclosures that were postponed over the holiday season were completed in recent weeks.

Additionally, now that the largest national lenders have reached a foreclosure settlement with the Federal government about their practices, we are likely to see more distressed properties leaving the shadow inventory and progressing through the system.

The impact is evidenced in the Unsold Inventory Index and the days on market.  Statewide, January’s home inventory was up to 5.5 months, after being at 4.1 in December 2011.  The days on market edged up to 61.9 from 58.7.  In Alameda County, our unsold inventory index went from 2.9 to 4.3, and the days on market widened from 82.5 to 98.5.  

Visit my Market Statistics page to see how things look for Livermore Valley!

There is a bright side to all this: California is working through the distressed property inventory at a quicker pace than the rest of the nation, per a report by TransUnion.  Also, mortgage delinquency rates are falling across the board, meaning that fewer homeowners are defaulting on their mortgages. While it will take time to return to a balanced market, the continued improvements in the national and regional economy should keep home buyers coming to the table.

This is just a small sample of the events that affect Livermore Valley real estate! If you are buying or selling a Livermore Valley home, you’ll need professional expertise you can trust! Today’s market conditions are complex and they can change quickly. As your professional Livermore Valley real estate agent, I have the local market experience you can rely on. I can help you buy or sell real estate in Livermore, Dublin or Pleasanton, so give me a call today! 

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
View Livermore Listings
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Home Sales Update for Livermore Valley!

January 13, 2012 By Leave a Comment

Are you thinking of buying or selling a home during 2012? You’re not alone! Consumer surveys show that more people are gearing up for a real estate transaction this year, especially home buyers. In fact, mortgage applications for home purchases are up by 8.1% in the last week alone. The Mortgage Bankers Association reports that national mortgage application volume is up by 41.9% from a year ago. That’s encouraging news!

Closer to home, there’s a lift in buyer activity in Alameda County. Per the latest statistics from the California Association of Realtors, we saw home prices increase an average of 1.50% from October 2011 to November 2011. We also experienced a reduction in home inventory on the market, which contributes to firmer prices. Overall, Alameda County posted the strongest month-to-month sales volume increase of any market in the San Francisco Bay area.

While that’s all good, we still have distressed properties to deal with, and home price gains are expected to be very gradual this year. No one can be exactly sure how many homes remain in the “shadow inventory” that banks will eventually release to the market.  For this reason, some cities and neighborhoods could fare better than others in price recovery.

On the bright side, California as a whole benefits by strong investor activity, with a portion of it coming from foreign buyers. We’re a popular choice among Canadian purchasers, who seek warm-weather havens in California, Florida and Texas. The presence of these buyers, as well as local investors, should help contain the market impact of distressed properties.

2012 will be a busy year for Livermore Valley real estate! If you are buying or selling a Livermore Valley home, you’ll need professional expertise you can trust. Today’s market conditions are complex and they can change rapidly. As your professional Livermore Valley real estate agent, I have the local market experience you can rely on. I can help you buy or sell real estate in Livermore, Dublin or Pleasanton, so give me a call today! 

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
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Take a Trip in Time in Livermore Valley!

December 29, 2011 By Leave a Comment

If the New Year has snuck up on you, join the club!  We’re about to enter those empty weeks that come after the  holidays and before the Super Bowl. After the rush and bustle of the holiday season, this time of year can be a bit of a letdown. Fortunately, there’s plenty to do in Livermore Valley! For example, why not welcome 2012 by taking a trip back in time?

The Blackhawk Museum in Danville has an unparalleled display of vintage automobiles. With an average of 90 cars presented and exhibits that are continually updated, there’s always plenty to see! But it’s the rarity of the autos that make the Blackhawk Museum stand out from the average car collection.  Where else might you find a 1937 Figoni et Falaschi Delahaye?   

Continue your trip in time by visiting the Firehouse Theater in Pleasanton for an Early Elvis Tribute Show. If you like the early classics recorded by the King, you’ll enjoy this performance by Jim Anderson and The Rebels. Tunes will include the 1954 -1966 Elvis era hits, like “Heartbreak Hotel” and “Don’t Be Cruel.”  There is only one show date, Jan 7,  so grab your tickets fast.

Revel in more memories at the Dublin Libray on Jan 19, with author Fred Setterberg. He will discuss his book “Lunch Bucket Paradise” and share his reflections on an East Bay childhood during the 1950′s and 60′s.  This is a free program for adults. No reservations are required.

We can’t leave Livermore out of this trip down Memory Lane!  The Tri-Valley Repertory presents “Annie” at the Bankhead Theater in Livermore, starting on Jan 21. “Annie” takes the depression out of the Depression Era with this heartwarming, musical tale of an orphan who finds herself in elite company. Weekend performances continue through February 5. 

Livermore Valley always has something to do! As your Livermore Valley real estate professional, I’m proud to call this area home, and I’m happy to share information about Livermore Valley events. When you’re buying or selling a home in Livermore, Pleasanton or Dublin, I’ll be ready to help you! Always feel welcome to contact me with your real estate questions.

Wishing you a happy and prosperous New Year,

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
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Home Loan Tips for Livermore Valley!

December 15, 2011 By Leave a Comment

Will you start the new year with a new Livermore Valley home? If you’re thinking of becoming a homeowner during 2012, there’s good news: the Federal Housing Administration could help you. FHA-backed mortgages in California are alive and well, thanks to a reinstatement of higher loan limits effective last month.

There’s a common misconception that FHA loans are only available for first-time homebuyers, or that income limits apply. Not true! However, there’s a limit on the mortgage amount itself. Now through 2013, that limit is as high as $729,750 for some areas of Alameda County, for a single-family residence.

Why go with a FHA-backed mortgage? For openers, your down payment requirements are lower. Your down payment could be as low as 3.5%! FHA also allows you to have down payment assistance from your family or employer.

With FHA loans, you will have a monthly mortgage insurance premium added to your payment. The mortgage insurance protects the lender in case you default on the loan. Basically, the government isn’t loaning you the money directly; but they are promising to repay the lender if you don’t. They collect a monthly insurance premium from you to fund an insurance pool for that purpose. In turn, this gives the lender additional security on the debt, which helps keep credit available for home buying.

FHA loans are also more forgiving concerning credit scores. You should always keep your credit history in the best possible shape, but with FHA, a past blemish won’t sink your chances of a mortgage.

To find out more about FHA-backed mortgages, you can visit the FHA questions and answers page on HUD.gov. You should also talk to local mortgage lenders. They will know the guidelines that apply to you and the local area.  Getting pre-approved for a mortgage is an important step in becoming a Livermore Valley homeowner!

As your Livermore Valley real estate professional, I study our local markets and keep on top of the real estate news. When you’re buying or selling a home in Livermore, Pleasanton or Dublin, I’ll be ready to help you! Always feel welcome to contact me with your real estate questions.

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
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Celebrate the Season in Livermore Valley!

December 1, 2011 By Leave a Comment

It’s that most wonderful time of the year! Homes come alive with light displays, city streets are bustling with shoppers, and delicacies of all kinds are sampled and shared. It’s a time of gathering with family and friends; a time to express warmth and cheer.

There are many ways to enjoy the holiday spirit in Livermore Valley! You’ll want to make a list – and check it twice – of all the events going on in December! Here’s a few favorites:

Dec 3 – Downtown Livermore Holiday Sights & Sounds Parade, 6:00 p.m.

Dec 3 – Pleasanton Hometown Holidays Celebration & Parade, beginning 3:30 p.m. with parade at 5:00 p.m.

Dec 3 – Dublin Holiday Winter Market, 2:00 p.m. to 7:00 p.m.

Dec 3 & 4 – Holidays in the Vineyards, noon to 5:00 p.m.  Wine tasting, arts & crafts and more.

Dec 10 – Breakfast with Santa, Robert Livermore Community Center, 9:00 a.m.

Dec 10 & 11, 16, 17, 18 – The Nutcracker, performed at the Bankhead Theater, downtown Livermore

Dec 11 – Ravenswood Victorian Yuletide, Livermore, noon to 4:00 p.m. Old-fashioned holiday fun.

Dec 11 – Bay Bells Winter Concert, Dublin Senior Center, 3:00 p.m.

All Dec - Niles Canyon Railway Train of Lights, boarding at Sunol and Fremont. Various dates and times.

There’s more going on than what I can list, but you’ve got the idea! Planning a special outing in Livermore Valley with friends, family, and business associates is a great way to celebrate the season and make lasting memories. And by doing some local shopping and dining, you’ll be supporting local entrepreneurs who add to the character of our communities.

I’m always happy to share information about the events that contribute to our Livermore Valley lifestyle. I’m proud to call this area home! And if you are asking Santa for a new home in Livermore, Pleasanton or Dublin, I can help you with your wish! As your  Livermore Valley real estate professional, I have all the latest market information. I’ll be ready to help you, so contact me today!

Wishing you all the best this holiday season,

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
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Home Sales Strategies for Livermore Valley!

November 18, 2011 By Leave a Comment

The complexity of today’s real estate market has kept many people out of the game. First-time home buyers are waiting to see if prices will fall; homeowners are waiting to see if prices will rise. Efforts to time the market do not a strategy make!  The surest way to miss a good opportunity is by staying on the sidelines.

It’s true that the number of distressed properties on the market affect home values. This doesn’t mean it’s impossible to sell your home – or to get a good price for it. Each home for sale in Livermore Valley has competition, but understanding the local market and having a sales strategy makes the difference.

If you’re thinking of selling your Livermore Valley home, start by considering your motive and sense of urgency. For example, if you have a financial hardship, and your home value is less than your mortgage, try a short sale. The first step would be to contact your lender for the requirements. The next would be to obtain a free market analysis of your home.

Short sales require patience. Sellers need to comply with all bank requirements for income and asset documentation. Buyers need to prove themselves qualified and make an offer within fair market value. Lowball offers cause rejection by the bank and a re-start of the process. If the bank needs approval from a third-party investor, which is often the case, this phase can take several weeks by itself.  Short sales work best when all parties understand the timeline, and agree to abide by the bank’s rules. 

If you are a traditional home seller, you will have competition from short sales, foreclosures, and bank-owned properties. How this affects your pricing depends on the number of such properties in your area, and on your own sense of urgency. The good news is, not all buyers are interested in distressed properties!  Some homes will appeal strongly to bargain-hunters; others to first-time buyers, others to move-up buyers, or relocating executives. Knowing how to market to the right audience is critical; this is why working with an experienced real estate professional is so important.

Keeping your property in the best possible condition – at all times – will help you when it’s time to sell. Don’t let routine maintenance slide, or small projects go unfinished!  It can become daunting down the road when you suddenly find yourself with a honey-do list a mile long. And if repairs are left undone, buyers will discount the purchase offer accordingly.

As your Livermore Valley real estate professional, I study our local markets and keep on top of the latest sales trends. When you’re buying or selling a home in Livermore, Pleasanton or Dublin, I’ll be ready to help you! Always feel welcome to contact me with your real estate questions.

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
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Share the Bounty of Livermore Valley!

November 3, 2011 By Leave a Comment

Can you believe Thanksgiving is right around the corner? Grocery stores are preparing for the annual feeding frenzy, with frozen turkeys piled high and shelves stocked with canned cranberries and pie fillings.  Shopping carts are already creaking from the extra weight in the baskets.

California produces an abundance of groceries. We lead the nation in commodity production, with over 400 varieties of foods, and farm cash receipts of over 37.5 billion dollars! Our agricultural diversity is the envy of the world.

Yet there are people right here in Livermore Valley who struggle to provide enough food for their families. Grocery costs have gone up while packaging has shrunk. The tough economy has driven more people to food pantries and meal services than ever before. In fact, the Alameda County Community Food Bank helps 49,000 people each week!

Meanwhile, the Open Heart Kitchen provides fresh, hot meals to 4,500 people each week. They serve meals at locations in Dublin, Livermore and Pleasanton. They also provide weekend box lunches to needy school children, who would otherwise go hungry when no school lunch is available. 

Basic Necessities provides winter food baskets during the holiday season to low-income families. They work in tandem with the Community Association for Preschool Children in Livermore. 

Each of these organizations could use a little extra help this year, in the form of donations and volunteers. These are local charities who make a direct impact on the quality of life in Livermore Valley. And if you ever need to verify the accountability of a charitable organization, visit CharityNavigator.org. 

As a resident of Livermore Valley, I’m always gratified by the ways people help each other in our communities. I’ve often talked about our vineyards, our climate, our downtowns, and the unique features that make living here so attractive. Yet it’s the people who make a place special, and the wonderful volunteers we have in this area are a great example. We also have generous donors who support a wide variety of causes. Together, those contributions make Livermore Valley a better place for everyone.

As your Livermore Valley real estate professional, I’m proud to be a part of this area and I always welcome your real estate questions. When you’re buying or selling a home in Livermore, Pleasanton or Dublin, my experience will make the difference! Always feel welcome to contact me for personal assistance.

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
View Livermore Listings
Visit My Website

 

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