Where is the Real Estate market going in 2012? Here are three myths that you may consider in your decision making process in 2012:
1) There is a national Real Estate Market. While Fisery Case Shiller reports can comment on the 384 Metro Regions in the US, this leaves us a huge sector that embodies pockets and neighborhoods in the US that vary as much as fingerprints or snowflakes. Schools, proximity to jobs, quality of life and many others factor in an overall market value.
2) There is a deep “shadow inventory” of bank-owned homes. No one actually knows what the banks are holding or holding off regarding bank-owned homes. Though a good piece of news is: “Mortgage delinquency rates have been falling for more than a year. Foreclosure rates have started to decline. The flood of bank-owned sales, which has swamped many markets, will finally begin to recede this year as fewer houses enter the foreclosure pipeline. Meanwhile, housing affordability has nearly returned to pre-bubble levels. Relative to family income levels, the average U.S. home is now only 5 percent more expensive than it was in 2000.” - Fisery Case Shiller 2012 forecast report.
3) It’s impossible to obtain financing. Not true – yes banks are requiring more documentation and in many cases a higher down payment. There is still, however, a 3.5% downpayment option through FHA if you are willing to pay for mortgage insurance.

Come one come all to this timely event…who knows, Norman Rockwell may even show up?

Come one come all to Collector's Choice Antiques

 If you love red or white wine, fabulous art, upbeat music, delicious food, exciting entertainment, happy people and just a good old time, check out the 14th Annual Lafayette Art & Wine Festival in downtown Lafayette.  This event is sponsored by the Lafayette Chamber of Commerce.  Be sure to stop by the “Trust in Education” booth and shake hands with our local hero, Budd MacKenzie, who helps set up schools and businesses in Afghanistan.  You can find an article about his crusade on the front page of the Contra Costa Times http://tiny.cc/rAtO5