Volume 1 | Issue
6 | June 2011
In This Issue:
A Note From John:
This Month's Note from
"Oasis in the Desert"
A Monthly Offering on a Variety
of Current Topics
have much more data at my fingertips than can go in the
newsletter. If you would like more specific information
about a particular area or neighborhood, even if it is
what the neighbor's house really sold for, just call or
email me and I will be happy to provide the information
** These statistics reflect
active, pending and sold single family homes for the
month ending May 31st, 2011.
15 Yr Fixed Conforming
30 Yr Fixed
30 Yr Fixed Jumbo
5/1 ARM Conforming
Interest rates per
John Fischer Real Estate
San Ramon Valley School District
Acalanes School District
If you have a family member, friend
or co-worker who is thinking about buying or selling
their home, please forward this email to them or have
them contact me at:
Your referrals are truly appreciated!
Recent Testimonial from a Satisfied Client:
"John Fischer was wonderful to work with during the
sale of our home. We are confident that we got the best
possible price for our home because of John’s patience
and hard work.
John spoke with us frequently to keep us updated on the
process of the sale. He took care of every detail and
relieved us of a lot of time and worry. We would not
hesitate to call on John again in the future."
Bay Area – "Oasis in the Desert"
attended a lecture by Carole Rodoni, whose background
includes President of Alain Pinel and COO of Cornish &
Carey, regarding the Bay Area real estate climate. She
is very bullish about the area and its ability to
recover in the real estate industry.
Carole reports that employment is getting better in the
Bay Area. New jobs are being offered in the tech, trade
and tourism industries. Large companies (Facebook,
SalesForce.com, Twitter) are moving into larger
facilities while other large companies (Google, Apple)
continue to hire more people.
Interest rates are still low with rates going up
possibly at the end of this year or early 2012. Lending
has been mostly re-finances vs. new financings (80/20).
Next year this should reverse with 80% going to new
On October 1, 2011, the jumbo conventional loan
amount will go from $729,750 to $625,250. People who are
considering the larger amount will want to complete the
process prior to that date.
Foreclosures are projected to continue until 2014-2015.
This will continue the downward pressure on home sale
prices for awhile which will be stabilizing soon. The
market in the east bay is about five months behind the
peninsula where the mid-market is having multiple,
all-cash offers with 10 day closes. We will see more of
this in the coming months here in the east bay’s
The key for sellers today is Pricing. Buyers must say
"Wow" to the price as everything today is "value"
priced, even Safeway and other retailers are doing this.
There is little activity in the high-end and buyers in
that range are getting great deals. Currently, sellers
need to have their houses in wonderful shape and priced
right to get quick sales.
- John Fischer
I-680 Pavement Rehabilitation
residents are aware, construction work is ongoing on
I-680. The 12.8-mile project is to rehab the pavement
from Rudgear Road south to Alcosta Boulevard and is
projected to cost about $50 million.
The project will primarily involve grinding of the
pavement or breaking the existing pavement to allow it
to be made more even before resurfacing with asphalt.
The image to the right shows workers removing entire
concrete slabs which will be replaced with new pre-cast
resurfacing will include a top layer of rubberized
asphalt similar to Highway 24 from Orinda to Walnut
Creek. This will reduce tire noise which is hoped to
create a quieter environment for residents who live
along or near the freeway. Unfortunately, the
construction noise will have to be tolerated until
completion of the project slated to finish in the fall
You can find more information at the DOT website
Changes in Conforming Loan Amounts
Effective October, 1, 2011, the top limit for
conforming loans is set to drop from $729,750 to
$625,500. Conforming loans eligible for sale to Fannie
Mae and Freddie Mac will now be charged higher interest
rates and have tighter guidelines. This means that home
affordability will diminish and the house you want and
can afford today may be out of reach by the Fall. This
also means that higher priced homes will be harder to
finance as the loan limits change.
Tremendous Danville location near Diablo Country
Club. Approx. 1600 square feet, single family home,
single level on court with 4 bedrooms, 2
beautiful pool. List Price - Approximately $649,000.
Have a question about Real Estate, buying or selling a
home or the community? I encourage you to get in touch
with me, I'm here to serve.
Click here to get
Ask Your Question
I've been selling residential real estate for the past
six years here in the Diablo Valley. After graduating
from UCLA and then getting my MBA, I spent most of my
career in corporate sales starting with Xerox in the
Following that, I proceeded into IBM computer sales and leasing.
My wife, Janeen, and I have lived in the same house in
Alamo since 1983 and have raised three children. They
all graduated from Monte Vista High School and have gone
to UCLA, UC Davis and University of Washington. Our
youngest, Kelsey, is now attending UC Hastings School of