Not only have sales of existing homes increased in the Tri-valley area of Pleasanton, Dublin and Livermore, but in many other areas as well. Bank owned REO sales and short sales are a large percentage of these, but the trend is starting to look good for a better real estate market in the summer.

Prices have come down, but not as much in the Tri-Valley area. The hardest hit are Contra Costa County areas of Antioch and Brentwood. In Alameda County parts of Oakland, San Leandro and Hayward have seen large price drops.

Home loans remain the big problem for home buyers. Lenders are unable to sell their loans and use that money to make more loans. Until this is corrected the housing market will be sluggish.

Only the rich investors are making money in this market. Public outcry needs to be heard in the halls of Congress, and in the White House. Big banks and creditors knew this was going to happen, that’s why the bankruptcy laws were changed.

It’s time for a grass roots movement too change how the government regulates the financial markets. People being people, they will always push the limits, it’s up to Washington to say no and control banking and investments much more tightly.

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Categories : Local News, Real Estate

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