One factor contributing to lower prices has been the high level of distressed properties being sold. In October, these properties began to show signs of price stabilization and increase. Distressed properties accounted for 29.3% of the properties available for sale at the end of January.

The number of Dublin homes under contract has remained fairly constant over the past 12 months. Encouragingly the number of homes under contract in January was up by 10% over the same time last year.  Unfortunately or fortunately depending on your perspective, of the Dublin homes that were under contract at the end of January, 73.1% were distress properties (Foreclosures and Short Sales).

Dublin home sellers are starting to feel the benefit of the changing market as the number of homes for buyers to choose from has been decreasing, in fact down 23% over a year ago.  We also experienced a slight drop in the number of homes that sold in January over a year ago with 5 less selling.

The housing inventory in Dublin has dropped a staggering 52% compared with a year ago, putting the current average months of supply at only 1.2 months.

These are the some of the lowest inventory levels of homes for sale we’ve seen in a long time.   This low inventory supply would suggest that prices are stabilizing and will hopefully grow moderately in the near future.

Foreclosures and Short Sales in Dublin (Single Family Homes)

© 2011, graphs provided by Terradatum and its suppliers using data from the Bay East Association of Realtors. Information deemed accurate but not guaranteed.

On Thursday, federal and state officials announced a $26 billion foreclosure settlement with five of the largest home lenders.  California is expected to receive approximately $12 billion in principal write-downs, including through short sales, over the next three years, according to the state attorney general’s office.

Here are some of the highlights of the deal:

• Most of the relief will go to those who are underwater on their homes.  That relief will come over the course of the next three years, with banks having incentives to provide most of the relief in the next 12 months.
• At least $17 billion will go to reducing the principal owed by homeowners who are underwater and behind on their mortgages.
• Up to 750,000 other underwater homeowners who are current on their mortgages will be able to refinance their current loans at lower rates.  They will not receive a reduction in principal, but with mortgage rates near record lows, they could receive substantial savings on their monthly payments.
• Approximately $1.5 billion will go to homeowners who had their homes foreclosed upon between Jan. 1, 2008 and Dec. 31, 2011, and who meet other criteria.  They will receive up to $2,000 each.
• This deal settles potential state charges about allegations of improper foreclosures based on robo-signing, seizures made without proper paperwork.
• The settlement sets up a federal monitor to oversee the process and try to prevent the challenges that tripped up many homeowners seeking help in earlier programs designed to address the housing crisis.
• The five mortgage servicers that are parties to the settlement include Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, and Ally Financial (formerly GMAC).

We hope those homeowners who need the help to keep their homes actually it as part of this deal.

According to the U.S. Department of Housing and Urban Development, this proposal will allow buyers to save an average of $3,000 a year by refinancing into loans backed by the FHA, if they are current on their mortgage.

This refinancing plan is the most recent addition to Obama’s foreclosure prevention efforts, following the Home Affordable Modification Program (HAMP) and the Home Affordable Refinance Program (HARP).

While this program has been out for a couple years, this new iteration is far more lenient, i.e. no limit on how far underwater a borrower is.

Here are some of the rules for the new program as we know them so far:

1. Loan must be Freddie or Fannie owned AND was originated prior to June 1 2009.  Here a couple of website links where you can check on your loan:
   • http://www.fanniemae.com/loanlookup
   • http://www.freddiemac.com (requires last 4 digits of social security number).
2. Removes the current 125 percent LTV ceiling for fixed-rate mortgages backed by Fannie Mae and Freddie Mac
3. Extends the end date for HARP until Dec. 31, 2013 for loans originally sold to the Enterprises on or before May 31, 2009.
4. Second loans must subordinate
5. Rates are generally the same as standard low Loan to Value program.

The approval system for all these loans is not available until March 17, so no lenders are able to close prior to this date.  Rate adjustments are not out yet so no one can accurately quote the rates although we have seen evidence that some that are quoting.

If you or someone you know may be able to improve their financial position, feel free to contact us and we’ll put you in contact with an excellent lender that can help.

Unlike our parents, grandparents or great grandparents, there are many retirement options available.  Making the decision to move to a Continuing Care Retirement Community (CCRC) is typically a proactive decision motivated by the desire to remain active and socially involved while at the same time preparing for future care needs.  One needs to be in good health to move into a CCRC.  Therefore, the decision to move in is not a reactive move triggered or forced by poor health.

There are several CCRCs locally.  Here in Pleasanton, Stoneridge Creek  is in the process of being built.  It is projected to be complete in the Fall of 2013.  They are accepting deposits now to reserve a residence.  Union City has Acacia Creek which is open and accepting new residents now.

Ken Dychtwald, an expert on aging and retirement,  uncovered the following 5 Myths of Continuing Care Retirement Communities.

• Myth No. 1: “My current home will be the best possible place to live in my post-retirement years.”
• Myth No. 2: “My current home is the best option to continue an active social life and to stay connected with friends in the years ahead.”
• Myth No. 3: “It’s less expensive and more financially secure for me to stay in my current home.”
• Myth No. 4: “It would be easy to get any care I might need at home.”
• Myth No. 5: “CCRCs are filled with old people who are sick and dying.”

Dychtwald addresses each of these myths surrounding CCRCs.  To read his report click here.

Dychtwald shows that many of the advantages of home ownership for older people don’t exist. Many seniors end up spending all or most of their time engaged in chores like housework or yard work. It is also common for older people to become isolated and lonely.

The cost of maintaining a home can often be much greater than many older people anticipate, even if the mortgage is paid off. Many people reach a point when they can no longer maintain their homes. They have to pay somebody else to do things like housework or routine repairs or rely on their families.

Some seniors inadvertently become burdens on their children. The child ends up serving as chauffeur, gardener, shopper and housekeeper for the parent. This can put unneeded strain on the family and lead to arguments.

Contrary to the myths, residents in CCRCs live active, independent, fulfilled lives.  Instead of needing to take care of a home or being isolated due to living alone, resident’s of CCRCs are able to participate in the activities they truly enjoy and be with friends.

If you would like more information about retirement community options for you or a loved one in Pleasanton, Dublin, San Ramon or Livermore call us.  We can help so you and your loved ones know what options are available and can make the best informed decision.

Q: How much, on average, can I expect to spend on home maintenance?

A: Expect to spend between half to one percent of the purchase price of your home every year to handle a myriad of tasks, including painting, tree trimming, repairing gutters, caulking windows, and routine system repairs and maintenance.

An older home will usually require more maintenance, although a lot will depend on how well it has been maintained over the years.

Tell yourself that the upkeep of your home is mandatory, and budget accordingly. Otherwise, your home’s value will suffer if you allow it to fall into a state of disrepair. Remember, there is usually a direct link between a property’s condition and its market value: The better its condition, the more a buyer will likely pay for it down the road.

Also, adopt the attitude that the cost of good home maintenance is usually minor compared to what it will cost to remedy a situation that you allowed to get out of hand. For example, unclogging and sealing gutters may cost a few hundred dollars. But repairing damage to a corner of your home where gutters have leaked can potentially cost several thousand dollars.

If you need a referral to one or more trusted service providers, give us a call. We’re here to help.

Her parents had lived in the same house for more than 50 years, so Jane expected to find things that should have been tossed out years ago. But she was amazed to discover 50 years of tax returns and bank statements carefully stored in boxes in the attic. Her parents had saved all their financial records!

Many people are confused about what records they need to keep and for how long. They hold onto tax returns, bank records, brokerage statements and other financial information simply because they don’t know if they’ll need it again. Like Jane’s parents, the documents get packed in boxes that eventually take over valuable living or storage space.

Financial planner Rick Rodgers, author of The New Three-Legged Stool: A Tax Efficient Approach To Retirement Planning (www.TheNewThreeLeggedStool.com), says tax time is a great time to get organized.

“Most people are going through their records to get ready to file their return,” he says. “This is the time to get smart about what you need to keep and then set up a system to store it efficiently going forward.”

Rodgers suggests these five steps to help you effectively organize your finances for 2012 and beyond:

1. Out with the old – Discard the records you no longer need: Tax returns older than seven years; bank records and credit card statements that are not related to the tax returns you’re keeping; brokerage statements that aren’t related to purchases of current holdings. Be sure to shred all your old documents before throwing them out.
2. Go digital – Convert the documents you plan to save into digital images that are stored on your hard drive. Invest in a good scanner and scan as you go through your paperwork, shredding and tossing the hard copies as you go. On your computer, file by tax year, so your 2011 folder will contain your tax return for 2011 and all pertinent bank records and receipts. Organize the previous six years the same way. Next year you can delete the oldest folder when you add the 2012 folder.
3. Save a forest – All of the financial institutions you deal with would prefer to send your statements electronically. Stop receiving paper statements. Instead, download your statements electronically and store them in your new filing system. Most banks and credit card companies keep at least a year’s worth of statements available. You need to download these files only once a year to complete the year’s file.
4. Save backups in case of emergency – Make backup copies of your files on a CD. Choose a CD-R (recordable) as opposed to a CD-RW (rewriteable), because CD-R cannot accidentally be overwritten. Depending on your computer operating system, you may be able to continue adding data to a CD-R each year, until the CD is full. However, some operating systems won’t allow that, so you’ll need a new CD for each year.
5. Go paperless – Your new electronic filing system can be expanded to include all your financial records, from car maintenance receipts to pay stubs. Wills and insurance policies can also be scanned and stored but, of course, keep the originals of those in a safe deposit box or fireproof safe. Gone are the days of saving your financial documents in box and shoving it into the attic. Technology advances have made organizing your personal finances easier with minimal cost. Make 2012 the year you get organized by moving your finances into a 21st century filing system.

For more information, visit www.rodgersspeaks.com.

So why do I mention Australia day? And why does our logo consist of a Kangaroo?

Bryce, our son and Little Aussie Bloke on a previous trip down under.

While the USA is my (Brett’s) home today and I’m an American citizen, I was born and grew up in Australia and will always be an Aussie. One more reason is our 4 year old son Bryce who also happens to be an Australian citizen (as well as an American & Swiss citizen).

Aussie Meat Pie

While I’m out of town at a Real Estate conference for this Australia Day and will not be able to fly our Australian Flag alongside our American flag for the day, I will go in search of a good old Aussie meat pie with tomato sauce (aka ketchup).

Happy Australia Day!

As you’ll see below, there are quite a number of great restaurants, in fact over 20, participating as part of California Restaurant Month.

Each of the restaurants is offering a multi-course, fixed-price dining experience for lunch and dinner.  Prices range from $15 for lunch to $20 and $30 for dinner and represent great deals.

No tickets or passes are required for Taste of Tri-Valley Restaurant Week. Diners simply dine out at as many participating restaurants as they like all week.

Click on Map to view details on each Restaurant

Click on the map for cuisine and location details. Clicking on the map marker and then restaurant name will take you to that restaurants web site.

Dublin

Coco Cabana – 4500 Tassajara Rd Ste C, Dublin, CA 94568 (925) 556-9055

McNamara’s Steak and Chop House – 7400 San Ramon Rd, Dublin, CA 94568,     (925) 833-0995

Livermore

Campo di Bocce – 175 E Vineyard Ave, Livermore  (925) 249-9800

El Charro Mexican Food & Cantina – 186 Maple Street, Livermore  (925) 371-8297

Garre Vineyard and Winery – 7986 Tesla Rd, Livermore (925) 371-8200

Great American Grill – 2801 Constitution Drive, Livermore (925) 292-2000

Milano Joe’s Cucina Italiana – 2020 1st St, Livermore (925) 454-0394

Porter’s Restaurant at Poppy Ridge Golf Course – 4280 Greenville Road, Livermore (925) 456-8215

The Restaurant at Wente Vineyards – 5050 Arroyo Rd, Livermore  (925) 456-2405

Sanctuary Ultra Lounge & Restaurant – 2369 1st St, Livermore (925) 373-0521

Underdog Wine Bar – 4590 Tesla Rd, Livermore (925) 583-1581

Pleasanton

Anarkalee Restaurant – 4515 Rosewood Dr Ste 700, Pleasanton (925) 460-8040

Baci Bistro & Bar – 500 Main Street Downtown Pleasanton (925) 600-0600

Blue Agave Club – 625 Main St, Pleasanton  (925) 417-1224

Café Main – 401 Main St, Pleasanton (925) 425-9708

Chicago’s Metropolitan Deli – 6003 W Las Positas Blvd, Pleasanton (925) 462-1678

Eddie Papa’s American Hangout – 4889 Hopyard Rd, Pleasanton (925) 469-6266

Faz Restaurant – 5121 Hopyard Rd, Pleasanton  (925) 460-0444

The Hop Yard Alehouse & Grille – 3015 Hopyard Rd, Pleasanton (925) 426-9600

Nonni’s Bistro – 425 Main St, Pleasanton (925) 600-0411

Tomo Sushi Bar & Grill – 724 Main St, Pleasanton (925) 600-9136

San Ramon

The Hop Yard Alehouse & Grill – 470 Market Pl, San Ramon (925) 277-9600

Stixx and Steaks – 2600 Bishop Drive, San Ramon (925) 244-6114

Yiping Restaurant – 2416 San Ramon Valley Blvd, San Ramon (925) 838-3233

For more information about Taste of Tri-Valley Restaurant Week, visit the event site at http://www.TriValleyCVB.com/tasteoftrivalley

A: A standard policy will do in most instances. It protects against several natural disasters and catastrophic events. However, it will not guard against earthquakes, floods, war, and nuclear accidents. The policy can be expanded to include these disasters as well as coverage for such things as workers’ compensation. In fact, the lender may require that you purchase flood or earthquake insurance if the house is in a flood zone or a region susceptible to earthquakes.

You also can increase coverage beyond the depreciated value of personal property such as televisions and furniture by purchasing a replacement-cost endorsement. Home-based business-coverage, once overlooked, is an ever-increasing popular rider. It does not cover liability associated with the business but rather contents such as home office equipment and general liability to cover injuries to clients and employees.

Other considerations: an inflation rider, which increases coverage as the home’s value rises, and getting insurance that is equal to the full replacement value of the home.

Insurance companies usually require an amount equal to at least 80 percent of the full replacement value. Otherwise, only a portion of the loss would be covered.

Need a referral to a home insurance company?  Give us a call and we can put you in contact with several good agents/companies that our clients have had good experiences with.

As you’ll see, the majority of the homes in the top 10 based on sales price were located in Pleasanton with one each in Dublin and San Ramon.  The most expensive sale in Livermore for the year was for $1,690,000, at position 28.

All information and photos below are courtesy of the Bay East Association of Realtors multiple listing service (MLS).

The 10th Most Expensive Home

1502 Via Di Salerno, Pleasanton

$2,100,000

Sold in September, this Pleasanton home is located on the Ruby Hill golf course. As just over 6,000 sq ft of living space, this 5 bedroom, 5 bath home, 4 car garage home offered a master bedroom downstairs, a gourmet kitchen with bar. Outdoors included a huge solar heated pool with diving board, spa, BBQ, vegetable garden and fruit trees along with great views from the balconies.

The 9th Most Expensive Home

961 Piemonte Drive, Pleasanton

$2,100,000

Coming in at the same price as #10, this timeless Mediterranean Estate features an with impressive dual wrought-iron staircase in the Grand entry foyer.  Flooring consist of beautiful marble and Brazilian cherry hardwood. With over 7,000 sq ft of living space, the home has 6 bedroom, large open kitchen and family room area, a billiard room, a game room, and a wine tasting room and more!

The 8th Most Expensive Home

1843 Sannita Place, Pleasanton

$2,236,800

This custom-built “Italian Villa” is also located in Pleasanton’s Ruby Hill estate.  Located on a peaceful, quiet cul-de-sac, this home has spectacular views in every direction. The home is approximately 7,000 sq ft in living space on a 25,000+ lot and is definitely going to make a great home for the new owners.

The 7th Most Expensive Home

1528 Honeysuckle Court, Pleasanton

$2,425,000

Coming in 7th place is this 4 bedroom. 4.5 bath home located in Pleasanton’s Golden Eagle gated community off Foothill Road. Need more garage space?  Probably not with home that features an 8 car garage. The home included a work-out room, a family room w/floor-ceiling fireplace, a game room and a  huge master suite with a balcony.  The home has fantastic views and is situated on a 1.23 acre lot and includes a pool,  spa and even a putting green.

The 6th Most Expensive Home

1809 Spumante Pl, Pleasanton

$2,600,000

Selling in February last year, this beautiful Ruby Hill estate included a truly gourmet kitchen, a state-of-the-art 9 seat theater, an elevator. The backyard features a pool with water slide, cabana with kitchen & bath. The home backs to the golf course & hills as has a little over 8,000 sq ft of living space and includes 7 bedrooms.

The 5th Most Expensive Home

7440 Tassajara Rd, Dublin

$2,600,000

The value in this Dublin property was in the land.  With approximately 12.5 acres this property has potential for future development. Currently on the property is a custom single-level home with attached 3-car garage, plus an additional 8-car garage, horse shelters, feed/tack room and a fenced pasture.

The 4th Most Expensive Home

2115 Norris Canyon Rd, San Ramon

$2,800,000

This 117 acre Family compound in San Ramon could be used as a Horse Ranch facility, Winery, or other special uses. It will be interesting to see what the new owners do with this large property.

The 3rd Most Expensive Home

1026 Pineto Pl, Pleasanton

$2,950,000

Another Ruby Hill home making the list is this beautiful two story featuring 9,900 sq ft of living, a 6 car garage, formal office, theater, game room, adult bonus and a restaurant quality bar for entertaining. Outdoors you’ll find a putting green, including a sand trap, a pool with grotto, cabana and a batting cage – lot size, approximately 35,000 sq ft.

The 2nd Most Expensive Home

3365 E Ruby Hill, Pleasanton

$3,000,000

This magnificent Italian Villa has over 9,000 sq ft of living space with exquisite detailing, including extensive use of granite, marble and mahogany.  Truly another beautiful home.

The Most Expensive Home Sold in the Tri-Valley was…

3736 Selvante St, Pleasanton

$3,000,000

This and the previous Ruby Hill home are the most expensive homes sold in the Tri-Valley this past year. This elegant Ruby Hill home was carefully crafted with every attention to custom detail. This 6 bedroom home has over 7,000 sq ft of living space, including a wine room that would be the envy of most wine lovers. The home has an amazing outdoor space with includes a full kitchen.

Congratulations to all of the new homeowners of these truly beautiful properties.