My New Blog Just Listed! 312 Laurel Ct Cloverdale, CA 95425 May 18th, 2008 5:28 PM $655,000.00 312 Laurel Ct Cloverdale, CA 95425 Beds: 5.0 Rooms: 5 Baths: 3.00 Sq. Ft.: 2890.00 Garage: 2.0 Built: 2004   This is a new listing that I thought you might be interested in. Visit this listing online to see more photos of the property, Google Earth satellite images, and much more.   If you have any questions about this property or require more information, please feel free to call. Tara Polley, GRI, ABR, Realtor Tara Polley ~ Coldwell Banker/ Polley Polley & Madsen 707-799-2004 www.TaraPolley.com     Visit this listing at Here Posted by Tara Polley, GRI, ABR, Realtor on May 18th, 2008 5:28 PMPost a Comment (0) BAY AREA CA WEEKLY REAL ESTATE MARKET WATCH May 21st, 2008 10:43 AM Weekly Market Watch It’s official! Fannie Mae is scrapping its declining markets policy which previously required borrowers to put up an extra 5% down payment when purchasing homes in areas deemed “declining markets,” both the National Association of Realtors (http://www. realtor. org/rmodaily. nsf/pages/News2008051602) and Inman News (http://www. inman. com/news/2008/05/16/fannie-mae-ditching-declining-market-policy) reported Friday. Under the policy change, borrowers will get loans up to 95% loan-to-value, even in markets in which prices have been falling. Prior to the change, borrowers could only get loans up to 90% to give lenders a 5-percentage-point cushion to protect against possible price declines in the future. The previous controversial policy kept some would-be home buyers from taking action because they could not come up with the funds to make the increased down payment. Others may have avoided buying because they were afraid to do so if prices were still declining. By eliminating this policy, Fannie May will instead require 3% down payments for conventional, conforming mortgages processed through its Desktop Underwriter automated underwriting system and 5% minimum down payments for loans process manually, Inman News reported. The new policy, which takes effect June 1, should be welcome news for many buyers, especially first time buyers. Are you ready for some more good news? NAR’s Chief Economist Lawrence Yun reported Friday that “home sales have stabilized over the last seven months and should increase slightly in the second half of 2008. ” Things are certainly looking brighter for real estate and with the subprime lending crisis looking more like a thing of the past, it seems we are finally moving in the direction of recovery. But is “recovery” a theme here at home? My Magic Eight Ball says “All signs point to yes. ” Read on: - The East Bay continues to see a flurry of activity. One new Kensington listing had 119 visitors. One Castro Valley Agent reports that she has so many buyers but cannot get into contract due to all of the multiple offer bidding on well-maintained properties. The Agent noted that she is having a hard time convincing her buyers to write over asking price on listings because they do not recognize that the market is changing again. We’ve been talking about the pent-up demand for some time. Now, with buyers finally making their move, it seems to finally becoming a reality. We need to be sure we are articulating the changing market – which seems to be making its move almost daily – to our buyers, now, before it is too late. REOs continue to be a prominent source of business for much of the East Bay. Most offices report that REO listings often receive multiple offers. - The North Bay is also showing great signs of recovery, particularly in the entry level market. The Petaluma office reports that “multiple offers continue to dominate our escrows. One property had 10 offers and another had six.” Marin neighbor Mill Valley reports that the $1.5 to $2.5 million is picking up and listings are “going quickly…Buyers are stepping up. ” - The Peninsula, which for weeks has had a major issue with lack of quality inventory, seemed to see a slowdown this week; some would argue largely in part due to the Mother’s Day holiday. I tend to feel that the issue remains a lack of good, well-showing listings that are priced competitively. Throughout the region, motivation of buyers seems to fluctuate and most are taking on a wait and see attitude as they hope to see what comes on the market over the next few weeks and into June as sellers put their homes on the market once school has ended. The Burlingame office reported that buyers in the $900,000 to $1.5 million are showing up in great numbers at open homes but are choosing to sit on the fence in the belief that prices and interest rates will come down further. Remember my May Reality Check message entitled “The Facts About Real Estate: A Market Update and Why Waiting May Cost You”? Now would be a perfect time to revisit it as it perfectly explains what waiting could cost buyers. - Four out of five San Francisco offices reported steady activity this week, with the fifth noting an increase. It seems inventory may be creeping up but those listings that show well and are priced right are quickly being snatched up by savvy buyers. This week alone our five San Francisco offices had 10 listings go into multiple offers, with the Lakeside office reporting six of those multiple offer properties. With the government’s efforts to stimulate the housing industry and the recent momentum our market has enjoyed, I think we would all agree that we are in the beginning of a transition market. The key is to work to find a middle ground between “buyers’ expectations and sellers’ hopes.” By keeping negotiations open, agreements can be and are being reached with cooperation on both sides. DON'T FORGET!!! IF YOU OR SOMEONE YOU KNOW, IS LOOKING TO BUY OR SELL REAL ESTATE IN NORTHERN CALIFORNIA, OR THROUGHOUT THE WORLD, GIVE ME A CALL WITH THEIR NAME AND NUMBER AND I WILL TAKE GOOD CARE OF THEM!!!   Posted by Tara Polley, GRI, ABR, Realtor on May 21st, 2008 10:43 AMPost a Comment (0) * Name: * Email Address: URL: Comment: Type the characters you see in this picture, click "Submit" when finished.   This helps us prevent automated programs from posting comments and sending spam. * Name: * Email Address: Address: City: State: Zip:   This helps us prevent automated programs from creating bogus contacts and adding them to your contacts database.

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Covering Sonoma County, Northern California. 45 minutes North of the Golden Gate.
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