Oakland Ca Real Estate's Blog: Laid back chat

 Just wanted to wish everyone out there a Happy New Year! Cheers to Making 2008 Great! I'm optimistic about this year, I'm looking forward to making strides in my business and personal life, and this is what the new year is all about!

We have been warned several times during the year that the Bay Area hasn't been getting enough rain and snow to fill our reservoirs past the 3/4 level. There has been talk that some parts of northern California would be put under water rationing ordinances to conserve water, unless our reservoir levels rise.

Luckily, the past couple of weeks have brought a series of storms, and the forecast is that we will be getting rain for most of the week. Two to three inches of rain and several feet of snowfall will help a lot, because we rely heavily on the melting snow pack to fill the reservoirs when they melt. It's easy to take water for granted, but every now and then we are reminded of how our water supply is not "guaranteed". Over the coming years, we will…

One of the largest and most vibrant famers markets in Oakland in the one near Lake Merritt at the Grand Lake theatre. Every Saturday you can get fresh organic fruits and vegetables, nuts, cooked foods and specialty items. Several food venders serve ethnic food and sweets, and there are also art vendors who sell hand made art pieces. Oakland has had much success implementing farmers markets, having one in downtown Oakland and one near Lake Merritt.

The move towards organic produce and other products is being fully embraced by Oakland, evidenced by the recent opening of a huge Whole Foods market as well as the first Trader Joes in Oakland.

The A's are going to Fremont, the 49ers suck, and the Oakland Raiders suck as well, so the only glimmer of hope is the Golden State Warriors! The season started off shaky for the Warriors, but since Steve Jackson has come back they have been playing much better. Whether they go to the playoffs or not, the Warriors are THE most entertaining team to watch at the time. They have a very fast paced offense, and they shoot three pointers like they are layups! Baron Davis is a seriously talendted individual, and combined with Monte Ellis, Jackson and Harrington they make a solid squad.

San Francisco has just rolled out a new energy conservation program which rebates home and business owners for installing solar panels on their real estate. Home owners can get $3000-$5000 off the cost of the installation, and business owners can get up to $10,000. Combined with rebates from the state of California, homeowners can potentially get up to $15,000 of the cost of solar panels rebated to them.

This is a great program, and I have a feeling Oakland will be following suit in the near future.

I was watching Ben Bernanke on TV earlier talking about the economy and where the economy was heading. He got questioned by a Senator about when he thinks the housing market might bottom out and begin to stabilize. He stated that this coming spring could be the beginning of a rebound, because a lot of the credit problems problems will subside.

On the other hand, in my market there's tons of short sales now, and I don't see an end to that anytime soon. Especially when there is supposed to be a whole new set of those adjustables re-setting next year. I also think certain areas will see a bottom sooner than others, and I think those are the high cost markets. So, where do you think the Bottom is in your market?

We had an earthquake yesterday which was one of the largest we had since the Loma Prieta quake in 89. This one was 5.2 magnitude, and it lasted at least 15-20 seconds, unlike some we've had that were short jolts. It was centered near San Jose, about a 30 minute drive from Oakland. There was a basketball game going on at the Oakland Arena when the quake hit, and people watching the game reported seeing the whole complex rock from side to side!

Luckily there were no injuries or major damage, except for small items that may have fallen in peoples homes. It seems like the seismic activity has been increasing somewhat, hopefully this will relieve pressure on the faults and buy us some more time before the next big one!

The other day I got an email from a rep at Meritage Homes, a real estate developer in the Central Valley. The email was to spread the word that they have slashed their prices on brand new homes. The oversupply of inventory is forcing them to cut  prices by large amounts. There simply isn't enough of a demand for the homes they have been building there. Even during the slowdown, developers who were already underway on their projects kept right on building. The combination of lower demand and fast paced building of new homes has forced developers to lower prices and offer up to 7% compensation for buyers agents.

Consider this: a 2300 square foot brand new home in Stockton that originally was selling for $437,575 has been reduced to $337,999! That's just…