The real estate market is so closely aligned with the fate of the overall economy, this week gave us reason for encouragement. Fed Chairman gave a more upbeat assessment of the economy saying, "we have seen increased evidence that a self-sustaining recovery in consumer and business spending may be taking hold." Also the S&P 500 and the NASDAQ rose 10% and 12% respectively. And U.S, retailers posted the strongest revenue growth since 2006.
Specific to real estate, buyers are coming back into the market already. Rates are still good and expected to rise over the year so I see this as a push for buyers. What we need is inventory and I have a sneaking suspicion that it's coming. My carpet cleaners and other vendors are getting booked up - love these signs!
For information specific to your neighborhood, email me.
Tracy
Monday, January 10, 2011
Friday, January 7, 2011
A Year in Review and 2011: A Real Estate Forecast
Tax credit. Historically low mortgage rates. Increased affordability of homes. Thosw were the factors that defined the housing market in 2010. But all of that leaves us wondering, what is next for real estate. Is the worst behind us? Are we finally on the road to recoery? Will sales bounce back? Will the luxury market recover sooner or late than the rest of the market? Our REALITY CHECK NEWSLETTER writer recently sat down with Coldwell Banker President Rick Turley to answer these questions and more as they discussed the 2010 housing market and what we expect in 2011. Click here to read this newsletter...10DecArticle
Wednesday, January 5, 2011
New Law Regarding Carbon Monoxide Detectors
CA Senate Bill 183 became effective January 1, 2011. It requires the installation of Carbon Monoxide detectors in rental units and dwellings that are being transferred (sold) as of Jan 1st. It will also require all homes to have CO detectors by January 1, 2013.
For home sellers and buyers, there is a new disclosure item that covers the installation of CO detectors and home inspectors will be checking for them and commenting whether they are there or not, just like they test and cover smoke detectors and water heater strapping - the two previous mandated items that homes must be in compliance with at time of sale.
The details of SB 183: Applies to homes being sold AND to rental units. Landlords must install and ensure a CO detector is operable at time of occupancy, tenant myst notify Landlord if it becomes inoperable.
A carbon monoxide detector must be installed in dwellings intended for human occupancy that have a fossil fuel burning appliance, fireplace, or an attached garage.
If you have questions or would like more information email me.
Tracy Pina
For home sellers and buyers, there is a new disclosure item that covers the installation of CO detectors and home inspectors will be checking for them and commenting whether they are there or not, just like they test and cover smoke detectors and water heater strapping - the two previous mandated items that homes must be in compliance with at time of sale.
The details of SB 183: Applies to homes being sold AND to rental units. Landlords must install and ensure a CO detector is operable at time of occupancy, tenant myst notify Landlord if it becomes inoperable.
A carbon monoxide detector must be installed in dwellings intended for human occupancy that have a fossil fuel burning appliance, fireplace, or an attached garage.
If you have questions or would like more information email me.
Tracy Pina
Eleanor Roosevelt Inspires
With the new day comes new strength and new thoughts. - Eleanor Roosevelt, Jan 8, 1936, after parts of her husband's New Deal were shut down by the Supreme Court.
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