Dublin Real Estate Update – 11/7/08
Dublin’s average home sale price sky-rocketed 28% this week to $576K. While there weren’t any new home sales reported, 8 existing homes were sold.
Many of the new home builders in Dublin have either recently received FHA approval or have applied for FHA approval in an attempt to provide more prospective home buyers with an opportunity to buy a condo or townhouse in Dublin.
The National Association of Realtors has also suggested/lobbied for an ambitious housing stimulus package. Please click here for the details. Are you in support of an interest rate buy down, tax credit for all home buyers, and making the conforming mortgage loan limits permanent?
9:55 PM on November 7th, 2008
While it would be nice for the government to assist with buying the rate down, I wonder what the trade off would be.
With respect to the first-time home buyer tax credit, my understanding is that it really doesn’t benefit the home buyer.
If the government would consider permanently increasing the conforming mortgage limit to at least 900k, then that would be awesome. It would be of great help to those of us that live in the Bay Area because of the high cost of living. Maybe a zillion years from now, they will increase it to that amount.
That government bailout is not what some folks think. The government gets half of your future equity when you sell your home. I saw on the news that JP Morgan is going to help those in trouble by modifying WaMu loans. If other banks did the same, that would help a lot of people remain in their homes and would reduce the foreclosure rate.
Prices have fallen too much in Dublin. I was glad to hear that Gov. Schwarzenegger proposed a 90-day freeze in pending home foreclosures. To read more about the Governor’s plan, please check out the story at this link:
http://www.latimes.com/business/investing/la-fi-foreclose6-2008nov06,0,2526198.story
10:32 AM on November 9th, 2008
A community meeting with Elected City Hall officials and Elected School Board Members would be a start. Right now there is a great distrust in our government, who they are really representing. They talk the talk but have not walk the walk when it comes to key issues, the love affair with (High Density Housing and Housing Developer) is an example.
We all need to promise to keep it professional and leave your emotions at the door before entering.
Maybe this could be a start of a new era of trust and unity, unlike the era of mistrust and division created by the current administration.