According to the East Bay Regional Park District (EBRPD) on Thursday, July 22nd, there will be an evening of dedication to its newest addition, Dublin Hills Regional Park, in Dublin CA. The dedication will begin at 5:30 and will conclude with a short guided hike at 6:15pm. The public is welcome to attend the dedication which will be located at Donlan Point Staging Area on Dublin Boulevard, about two miles west of San Ramon Road in Dublin at the Schaefer Ranch housing development. Click Here for directions and an invitation to the dedication.
Dublin Hills Regional Park, a 520 acre park was set apart by the developer of Schaeffer Ranch. According to the EBRPD Website, “the park includes a fully developed staging area with 23-car parking, equestrian parking, restrooms and drinking fountains, a 1.25-mile section of the Calaveras Ridge Regional Trail, and a 1.5-mile connection loop. Additional sections of the park and trail connections will be open in the future”
East Bay Regional Park District has been very busy acquiring land for tri valley residents to enjoy. According to a recent article in the San Francisco Chronicle, “Many of the recent purchases were completed with some of the $500 million in Measure WW funds. The collapsed real estate market helped, leaving the district with little competition for properties.”
Take a minute and discover the beauty that surrounds are Tri-Valley. EBRPD has a wonderful website where you can discover new places to go Fishing, Hiking, Picnicking and Camping right in your own backyard. www.ebparks.org
Inventory was at 12 month high in June of 2010. The inventory has been decreasing at a steady rate indicating that the buyers are outnumbering the sellers. If inventory continues at this pace, you can expect to see a stabilization or even increase in sales prices. The median home price declined about $20,000 from the previous 12 months, but appears to have stabilized. Price volatility appears to be different depending on home size and price. Additional data is available upon request.
February of 2010 marked the bottom of median price and available inventory. The market has been trending up as it pertains to both median price and inventory. However, the median price has seemed to stabalize and dip ever so slightly since July.
Forbes.com recently published their Top Ten list of communities that were considered to be the riskiest and the most likely to decline in value. These communities are likely going to get a bit worse, before they get better. Is your city on this list?
10. Fresno, CA
9. Miami, FL
8. Memphis, TN
7. Orlando, FL
6. Vallejo, CA
5. Bakersfield, CA
4. Modesto, CA
3. Stockton, CA
2. Riverside, CA
1. Las Vegas, NV
The people performing the study considered a number of factors as they compiled the list, but placed a lot of weight upon the number of delinquencies in any given city. The new studies indicate that the cities with the largest amount of delinquencies were most likely to see homes go into default . Many of the Homeowners will find relief under the HAMP program, while others will find refuge in a loan modification or short sale. Due to the unwillingness for most of these Lenders to speed up their process many of these homeowners get tired of waiting and end up just walking away from their homes.
Six of the 10 cities are in California and there is a theory for the why California was hardest hit. The study goes on to explain that as home prices went up to unreasonable levels, it caused some homeowners to discover communities that were further out and away from the suburbs. This caused the prices in those towns to increase and gave us the market that we have today. "A lot of these were extended commuter locations for the most expensive areas," says Lundstedt. "When prices dropped, those places were hard hit."
How long will this continue? Experts can’t seem to agree with each other on that question. Many are convinced that this is the bottom of the market. The other camp has a convincing argument that there are still have another wave of foreclosures coming that will drive values lower. According to a report from the Toronto-based Capital Economics, the report found that for every home currently on the market, two homes are waiting to be sold. The weight of the shadow inventory may contribute to a double dip in the housing market. Ultimately the bottom line is housing markets differ from city to city and state to state. The default numbers can help paint a good picture of what the future will look like. The unknown factor is how the Obama Administration will let the chips fall.
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