Oakley, CA

Oakley CA Foreclosure Moratoriums

Good Idea or Just Another Kick of The "Can" Down the Road? Is it just me, or are there others out there who are tired of the same old dysfunctional approach to a serious problem. I am referring to the latest Foreclosure Moratorium that has be put into effect in California. Haven't we recently been down this road? My most recent check of the numbers show that there are record numbers of Foreclosures that happened right aftter the last Moratorium. Go figure! But how could that be? Weren't the Moratoriums put into place to allow homeowners more time to workout their loan woes with their lenders? Oh yeah, I forgot, during the Last Foreclosure Freeze lenders had the OPTION to work with distressed borrowers. This time around, Lenders are supposed to provide proof that they have made every effort to work with delinquent borrowers. Whew, what a difference a day makes!

So let me see if I understand the goal of this new Foreclosure Moratorium (California). Distressed Homeowner's get 90 more dayst to be led on by their Lender in hopes of getting loan terms that make sense (i.e. better rate, longer term, principal reductionNOT). I am looking into my Crystal Ball...Ooops I mean my "Magic 8" Ball! Oh, Magic 8 ball, will lots of homeowners be saved by the new Foreclosure Moratorim? I am shaking the ball and the answer is..... NO! Wow, I was really hoping that the old "Magic 8" Ball would give me a much more optimistic outlook!

We need real solutions, right now. Our local Politians are obviously, for the most part clueless and powerless as to how to really put a fire under these Lenders behinds to get realistic solutions to our national foreclosure crisis. Blaming the tiny number of Loan Mod Scammers and all but shutting out those who work in the trenches and can provide viable, realistic solutions(Real Estate Brokers and Agents) out of the dialogue prolongs the unecessary suffering of families in distress.

The current California Foreclosure Moratorium will buy many time to stay in their home just beyond Summer and give many the false hope that they perhaps they will be in their home for the holiday season. But in reality, the moratorium has just kicked the "can" down the road a few months and many will once again be facing foreclosure just in time for Christmas!

Oakley CA Foreclosure Moratoriums

Oakley Housing Market. This report on home sales in Oakley California is based Single Family Homes reported on the MLS as of August 13th 2009. Due to late reporting the numbers in this months Oakley Market Report might vary slightly from Last Months Oakley Market Report.

I have taken a hard look at Short Sales this month since they are dominating the local market. The number of Bank Owned Homes on the market continues to shrink. Last month it stood at 56 and is now down to 44, the slide continues.

Compared to the total number of sales there is a lot of pending homes. I suspected this might be because of the long wait it sometimes takes to get a short sale cleared through the bank. However, the numbers are unclear on this point. The number of Pending that are Short Sales is about the same percentage of amount of Active Listings that are also Short Sales.

The high number of Pending compared to active and overall sales can also be tied to new lending restrictions and appraisal issues. I think getting a loan processed in 30 days is getting harder and harder to do, especially with FHA financing and minimal down payments. The new appraisal procedures have also hung up a lot of loans.

The Average Price Per SF for Homes in Oakley California, which is a key indicator I watch continues to climb steadily from $111.00 per SF to $112.00 per SF. Homes for Sale in Oakley California represent a great buying opportunity for Investors and First Time Home Buyers.

Subscribe to Gene Riemenschneider's East Contra Costa Home Blog by Email

Living in Oakley - Diners, Drive Ins & Dives - Uncle Wong’s Great Chinese Food. Uncle Wong’s is a small Chinese restaurant you would not know about unless someone told you where it was. So I am going to tell you where Uncle Wong’s Chinese Restaurant is and why it is some of the best Chinese Food in East Contra Costa County, or all of Contra Costa County for that matter.

Uncle Wong’s Chinese Restaurant is buried in the back of a strip mall in Oakley on Main Street. (2005 Main Street, Suite B in Oakley). Go to the Raley’s Shopping Center in Oakley and head past the Taco Bell on the northwest cornet. Uncle Wong’s Chinese Restaurant is in the small separate building at the end of the strip mall. Look fast or you will miss it; it is next to the Subway shop. I had some clients take me to dinner here after a long day of house hunting; that is the only reason I found Uncle Wong’s.

Uncle Wong’s Chinese Restaurant is small with only about 6 tables, but I have always been able to find a seat. To this end Uncle Wong’s really focuses on the take out menu and offer a discount on take out. The food is excellent. We have never gone to Uncle Wong’s and been disappointed. A specialty we like is the Honey Glazed Walnut Shrimp. I also find the Fried Rice at Uncle Wong’s to be top notch.

Now I am more used to the Americanized Chinese food, but I understand the more traditional dishes are very good and authentic at Uncle Wong’s Chinese Restaurant. I found some good reviews on more details on Uncle Wong’s Chinese Restaurant Here.

So call me up, buy a house and maybe I can take you to Uncle Wong’s Chinese Restaurant for Dinner. For the next two weeks I am going to be writing on some local businesses. Drop me a line if you have a suggestion.

Subscribe to Gene Riemenschneider's East Contra Costa Home Blog by Email

Here is this months Oakley Market Report. These figures were pulled from the MLS on July 13th & 14th and are for Single Family Homes only. There are some slight differences in the Sold properties for May in this months report and Last Months Report Due to late reporting.

The upward pricing trend has accelerated to almost 2% per month. The number of bank owned homes on the market dropped slightly and now stands at 56, down from 62 last month. The price of active homes is moving closer to the sales point of the sold homes. The housing supply is almost 3 months, but this is still a tight market, and this is part of the reason for the price increases and the downward trend in total sales numbers.

I have stated before that when we get through the Bank Owned Home sales there will be a sharp increase in prices. However, there are different rumors about and we may have another glut of Bank Owned Properties coming onto the market.

This is a wise time to invest in housing and I have recently started a series of blog post on investing. You may wish to read it.

Subscribe to Gene Riemenschneider's East Contra Costa Home Blog by Email

If you are Living in Oakley, Ca your home price is starting upward. If you want to Buy a Home in Oakley Ca, now may be the time to do so. This month’s market report is based on Single Family Homes pulled from the MLS on June 12, 2009.

As I have noted in past reports the market has been firming up and now it has turned. The sold priced have gone up almost 1% in one month. This is based on the figure I think is most important; price per Square Foot (SF). This may be a temporary trend. The housing supply on the market is a little over 2 months.

ome of the Oakley housing numbers, especially for active listings are skewed upwards by some very high end homes with land that continue to set on the market. For the best numbers look at the sold numbers.

If you have any other questions about the market or need a more detailed market report for any area please let me know.

Subscribe to Gene Riemenschneider's East Contra Costa Home Blog by Email