A report from John Burns Real Estate Consulting found that in the last 12 months, publicly-traded builders experienced cancellation rates (where the buyer pulls out of a deal to buy a newly built home) of 16% on average. One of the major drivers of cancelled projects was people not being able to sell their existing home in time. The Compass Bridge Loan program is coming to solve this problem. Beta testing is about to start. Stay tuned for more details. (Julie)
65% of CFOs say the U.S. economy will not experience a recession in 2020, and they hold this belief even though they do not support the view that more interest-rate cuts are needed from the Federal Reserve to keep the economic expansion going. The majority of CFOs say that the current level of interest rates are “appropriate.” (CNBC)
More than 40% of homeowners have experienced damage to their home from weather changes in the fall and winter, according to new research. The survey of 2,000 homeowners found that extreme weather has caused issues for 45% of homeowners. The average cost per year for those who experience weather-related damage is $3,497. Some routine maintenance can go a long way to prevent damage under tough weather conditions. Get ahead of it and survey your property to look for potential problems. Things to look for… roof deterioration, clogged rain gutters, need of exterior paint and caulking, clogged or blocked exterior drainage, proper plumbing pipe insulation. (NY POST)
Today’s mortgage holders saw their home equity increase by 4.8% annually at the end of the second quarter. This is a collective gain of nearly $428 billion, according to CoreLogic. The average homeowner with a mortgage gained $4,900 in home equity in just one year. From the first to the second quarter of this year, the number of mortgaged residential properties in a negative equity position fell 7% to 2 million homes or 3.8% of all mortgaged properties. (CNBC)
The US jobless rate dropped to 3.5% in September from 3.7% in August, marking the lowest rate since December 1969 when it also logged in at 3.5%. (WSJ)
1994 Marta Drive, Pleasant Hill, CA 94523
3 Bed | 1 Bath | $659,000 | The Julie Whitmer Team
Pleasant Hill charmer! Updated white kitchen. Freshly painted interior and exterior. Cute and cozy, move-in ready. Newer roof, new landscaping and irrigation. New rear yard paver patio and gazebo. Close to downtown Pleasant Hill restaurants, great Shopping, Movie Theater and Freeway Access. A MUST SEE!
2340 Genoa Street, Danville, CA 94506
6 Bed | 4.5 Bath | $1,648,000 | Compass Listing
As a former model home, 2340 Genoa has been updated beyond belief with amazing designer touches throughout. Featuring 6 bedrooms and 4.5 baths plus an exercise room (or 6th bedroom), 2 offices plus a work space in the luxurious master suite, a bonus loft, downstairs bed & bath, 3 car garage, solar electric, loads of storage, crown molding, mud room, 3 fireplaces, beautiful wrought iron staircase...the list of upgrades is endless! Outdoors, backing to open space, you will cherish the extraordinary views and award winning sunsets! The backyard features a dining area and seating area with custom fire pit.
146 Manzanita Drive, Orinda, CA 94563
4 Bed | 3 Bath | $1,700,000 | Compass Listing
This beautiful contemporary designed home nestled amongst the oak trees boasts luxury, tranquility and privacy. The home has 4 Bedrooms, 3 Bathrooms, 2,601 square feet and sits on .51 acres. The Custom Chefs Kitchen features all stainless appliances, gorgeous granite counter tops, maple cabinets and wine bar. The expansive wrap around deck connects the living spaces, offering ample space for entertaining, enjoying fabulous views and access to the backyard.
22490 Eden Valley Court, Saratoga, CA 95070
6 Bed | 7.5 Bath | $19,500,000 | Compass Listing
Horse aficionados will indulge in a fully operational horse facility which includes a covered riding arena with lighting, 24-stall barn with 8 paddocks, tack room and state-of-the-art wash facilities. Lush pastures and riding trails that lead to county parks and open areas creating multiple ways to relish in your riding experience and outdoor enjoyment. Nestled in the foothills of Saratoga, this exquisitely built estate is designed for privacy and tranquility yet is only minutes away from downtown of Saratoga. The 7500+/- sq ft main residence consists of 6 bedrooms, 7.5 bathrooms and is designed for entertaining and outdoor living. Stunning guest house and exercise pavilion complete this stunning estate.
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Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.