Category Archives: Uncategorized

10 Predictions for Housing in 2013

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We thought these ten predictions for housing in 2013 to be spot on.  While Lamorinda hasn’t been hit with the short sales and foreclosures like other places in the U.S., buyer confidence is definitely up andLamorinda inventory has been almost non-existant for several months. 

 “The new year could be the best year in real estate in years, but the housing recovery still remains fragile and challenges remain”, says Dave Liniger, RE/MAX co-founder and chairman.

Liniger recently offered up some of his predictions for the new year:

  1. More buyers and sellers return to the housing market.
  2. Home sales increase 6-7 percent while home prices increase 3-4 percent.
  3. Inventory of for-sale homes will hit bottom.
  4. Higher-priced listings begin to sell more.
  5. The number of distressed properties continues to drop.
  6. The shadow inventory continues to fall.
  7. Short sales rise, reaching a peak.
  8. Mortgage rates rise slightly by year’s end from record lows.
  9. Lending remains constrained for home buyers.
  10. Home affordability remains at record highs.

Source: http://www.remax.com/c/about/news_article/top-10-predictions-for-housing-in-2013-re-max-co-founder-sees-2013-as-the-b

COMING SOON…

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COMING SOON:
Lovely 2-story updated 2BD/2BA corner unit Walnut Creek condo with private decks. Built in 1985, this 1,054+/-sf condo is accented with vaulted ceilings, an updated kitchen with breakfast bar, 2 master bedroom suites (1 with a private deck), lovely living room & a cozy patio with storage area. Enjoy the beautiful pool and spa & take advantage of the wonderful proximity to downtown Walnut Creek, Broadway Plaza and freeway access.

Orinda Named Second Friendliest Town In America By Forbes….

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On December 19, 2013 Forbes magazine awarded Orinda the silver medal for “Friendliest Towns in America”.

The article read…..
Another West Coast town placed second on our list: Orinda, Calif., a suburb east of Oakland with nearly 18,000 residents where 92% of households own their homes. Roughly 77% of those residents have a bachelor’s or a higher degree. As in Sammamish, the crime rate is much lower than the national average.

“Holidays and events are a really big deal to Orinda residents,” says Kelsey Grady of Nextdoor.com. Annual events include the Orinda Film Festival, the California Shakespeare Theater and an annual daylong 4th of July celebration that kicks off with a pancake breakfast. On Nextdoor, Orinda residents have been known to organize holiday gatherings like pumpkin carving contests and neighborhood wine and cheese parties.

Go to http://www.forbes.com/sites/morganbrennan/2012/12/19/americas-friendliest-towns/ to read the whole article.

What The Fiscal Cliff Bill Means to Real Estate…

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Real Estate Provisions in “Fiscal Cliff” Bill

On Jan. 1 both the Senate and House passed H.R. 8 legislation to avert the “fiscal cliff.” The bill was signed into law by President Barack Obama on Jan. 2.

Below is a summary of real estate related provisions in the bill:

Real Estate Tax Extenders

  • Mortgage Cancellation Relief is extended for one year to Jan. 1, 2014
  • Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012
  • 15-year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through 2013 and made retroactive to cover 2012
  • 10 percent tax credit (up to $500) for homeowners for energy improvements to existing homes is extended through 2013 and made retroactive to cover 2012

Permanent Repeal of Pease Limitations for 99% of Taxpayers

Under the agreement so called “Pease Limitations” that reduce the value of itemized deductions are permanently repealed for most taxpayers but will be reinstituted for high income filers.  These limitations will only apply to individuals earning more than $250,000 and joint filers earning above $300,000.  These thresholds have been increased and are indexed for inflation and will rise over time.  Under the formula, the amount of adjusted gross income above the threshold is multiplied by three percent.  That amount is then used to reduce the total value of the filer’s itemized deductions.  The total amount of reduction cannot exceed 80 percent of the filer’s itemized deductions.

These limits were first enacted in 1990 (named for the Ohio Congressman Don Pease who came up with the idea) and continued throughout the Clinton years.  They were gradually phased out as a result of the 2001 tax cuts and were completely eliminated in 2010-2012.  Had we gone over the fiscal cliff, Pease limitations would have been reinstituted on all filers starting at $174,450 of adjusted gross income.

Capital Gains

Capital Gains rate stays at 15 percent for those in the top rate of $400,000 (individual) and $450,000 (joint) return.  After that, any gains above those amounts will be taxed at 20 percent.  The $250,000/$500,000 exclusion for sale of principal residence remains in place.

Estate Tax

The first $5 million dollars in individual estates and $10 million for family estates are now exempted from the estate tax.  After that the rate will be 40 percent, up from 35 percent.  The exemption amounts are indexed for inflation.

-Article written by the National Association of Realtors

THANK YOU to ou…

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THANK YOU to our wonderful clients! The Brydon & Ives Team was recognized as a 2012 San Francisco East Bay Five Star Real Estate Agent by Five Star Professional.Five Star Professional conducts localized, independent research to identify service professionals who provide quality services to clients.Five Star Professional partnered with Diablo Magazine to present the Realtors in the San Francisco East Bay area who provide exceptional service and overall satisfaction as indicated by clients, peers and industry experts. The upcoming Five Star award winners are a select group of fewer than 2 percent of all Realtors in the East Bay area. The results are published in the October 2012 issue of Diablo Magazine.

BIDDING WAR In E…

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BIDDING WAR
In East Bay, Pent-Up Demand Fuels Buying Boom

The Contra Costa Times published an article on the front page of Saturday’s newspaper which speaks about low inventory in the East Bay and pent-up buyer demand.  “In Contra Costa County, pending sales of single-family homes are up 62% from last year and inventory is down 32% — a seller’s market.” 

 “The threat of historically low interest rates rising further — the rates rose above 4% this week — combined with increased confidence in the economy is bringing out buyers who have been holding back.”

Click attached link to read article:
http://www.contracostatimes.com/ci_20235269/buyers-compete-short-supply-homes-bay-area?IADID=Search-www.contracostatimes.com-www.contracostatimes.com

 The Lamorinda Market is HOT!
After the last few years of a difficult housing market, Lamorinda has turned on the heat. 58 single family residences have gone pending since March 1st. Many of these have received multiple offers. With interest rates low and inventory starting to come on, buyers who have been on the fence are ready to buy!

If you have been waiting for the market to come back to list your home, now is the time! Low inventory over the last six+ months has resulted in pent-up buyer demand.

REMINDER: Wilder, Orinda Private Open House (Please R.S.V.P)

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Many of you have asked us what the new Wilder development is like, what the style of houses are, have any sold, what are the price ranges?

Wilder is a new neighborhood development nestled in a small valley in Orinda with a resort-type environment. It has it’s own exit off of the freeway between the tunnel and the Orinda exit. It will feature 245 home sites. The homes prices start at $1,500,000 although the majority of homes will be priced at $2,000,000+. We have been up there for a tour and it is actually quite special. The clubhouse, state-of-the-art competitive swimming facility and recreation center with fitness area have been completed. Five community playfields are also completed and are just awaiting the City’s okay to open. Only three homes have been built and two of them are available to be viewed (the 3rd has sold and is the first home to be purchased in the Wilder neighborhood).

 We want to give you the opportunity to come up to Wilder to see what has been done.
We have arranged a private Open House for any of you who are interested in seeing the development in its early phase.

Date ~ February 26th, 2012
Time ~ 11:30am
Please R.S.V.P to BrydonIvesTeam@APR.com

http://www.OrindaWilder.com