Friday, October 16, 2009

Do you know your walkscore?

What could be greener than walking.  An interesting new neighborhood and home value has been gaining popularity recently.  It's called a walk score.  Several real estate websites have begun to put this value next to home listings.  I was told about this by some buyers I have been representing, they always knew the walkscore of the homes they viewed.  This is not a new measurement of a neighborhoods value however I believe it is becoming more important because people would rather be close to shopping, dining and entertainment they can walk to.  Or ride a bike.  It gives them options other than always having to drive their car.  I think people always thought about this but it was one of the intangibles that was considered during a home purchase.  People want to be close but not too close to these services.  A great example is that I walked to the Peet's coffee shop from my home in the east end to write this blog.  It's interesting that tools have now become available to put some numerical value to walkability.  Exactly how does this score translate into dollars is an interesting calculation. Another website that is currently only functioning in Philadelphia says that each additional point on a walk score according to them is worth between $700 and $3,000 dollars.  Curious what your walk score is? go to walkscore.com and plug in your address.

Tuesday, October 13, 2009

Extension of 8k tax credit for veterans

An extension of the $8,000 first time homebuyer tax credit for veterans that served overseas looks like it will go through.  This credit is currently set to expire on Nov 30 2009.
Watch an interesting video on this and other issues. CLICK HERE FOR VIDEO

Friday, October 2, 2009

Home prices gain for 3rd straight month

CNNMoney. com reported that home prices gained for the 3rd straight month.  While this was a national figure it shows signs that our housing market is stabilizing and gaining a little. Read full article here.

As I always like to emphasize housing markets are really comprised of micro markets. Within Alameda you will find markets within markets. Even more so in Cities like Oakland that cover such a large area.
Single family detached homes have shown different levels of activity compared to Condos or Townhomes.

My recent experience with representing buyers is that the hottest segment of the market in terms of sales and multiple offers is the price points between 450k and 600k.  These are the first time home buyers who are now able to enter the market.  Interest rates are still low and they have been able to take advantage of the first time home buyer tax credit.  Unfortunately inventory in Alameda has been low this summer so that might explain why many people are chasing the most desirable homes.