Are We Heading Into A Double Dip Recession?

There is talk out there about the economy and a possibility of heading into another recession. Housing prices across the United States have fallen 2% since last December. The unemployment rate is remaining steady, we're not seeing job growth or job losses. Keep in mind that there is an oversupply of homes right now and a shadow inventory of foreclosures that have not yet hit the market. Getting out of this economic mess will depend heavily on job growth and on how the Obama Administration handles the foreclosure problem.

Empire Realty's Santa Party. Happy Holidays!

Each year in the Walnut Creek and Danville locations, Empire Realty hosts a Santa Party. Hundreds of young children stop by to sit on Santa's lap and eat cookies that Santa's elves made for them. Happy Holidays!

Walnut Creek, CA Homes and Real Estate Overview

If you are interested buying or selling a home in the Walnut Creek, CA area, contact real estate broker, Steve Poirier. Visit his website for market updates, neighborhood videos and search the MLS for new listings in the area.

Discover how listing your home with Steve Poirier will exceed today's expectations of real estate services. Visithttp://www.stevepoirierrealty.com/ and see how your home can be featured in a stunning video tour for maximum online exposure.

Foreclosure Activity in the United States Overview

Foreclosure activity rates are up again for the 3rd quarter. However, home sales are improving in major metropolitan areas which proves people are buying up the inventory.

The reason these problems still exist is because of high unemployment and high underemployment. With so many homes on the market, many homes have lost their equity. These numbers will likely stay high until these problems in our country are resolved.

Cities With Highest Foreclosure Rates

Many of these cities are in California. Take a look at the list below for the cities in the United States with the highest foreclosure rates below...

Las Vegas-Paradise, Nev., 12%

Cape Coral-Fort Myers, Fla., 11.9%

Merced, Cal., 10.1%

Riverside-San Bernardino-Ontario, Calif., 8.8%

Stockton, Calif., 8.6%

Modesto, Calif., 8.5%

Orlando-Kissimmee, Fla., 8.2%

Phoenix-Mesa-Scottsdale, Ariz., 8%

Port St. Lucie, Fla., 7.6%

Miami-Fort Lauderdale-Pompano Beach, Fla., 7.2%

Vallejo-Fairfield, Calif., 7.1%

Bakersfield, Calif., 7.1%

Naples-Marco Island, Fla., 6.4%

Reno-Sparks, Nev., 6.2%

Sacramento--Arden-Arcade--Roseville, Calif., 5.6%

Deltona-Daytona Beach-Ormond Beach, Fla., 5.3%

Sarasota-Bradenton-Venice, Fla., 5.3%

Lakeland, Fla., 5.2%

Fresno, Calif., 4.9%

Salinas, Calif., 4.8%

Is It A Good Time To Buy A Home?

When is it a good time to buy a home? This a question that I am often asked and my answer is Now!  It's a great time to buy a piece of real estate. In the cycles of real estate, this buyer's market won't be around forever.  Ten years from now, we will look back and see these times as a great home buying opportunity. Don't miss out!

Interest rates are Historically low! Inventory is on the rise... Many buyers are getting 30-year fixed rates at 4 percent.  Which is an amazing rate for the long term investment.  Also, as an investment home prices are at generational lows with foreclosures and short sales hitting the market, giving buyers more homes and options to choose from. If you are a buyer, now is a great time for you to be picky.  Buyers 5 years ago were often rushed into their decision making, with homes on the market for less than two weeks you had to be fast when finding a home. In a typical buyer's market, purchasers have more time and negotiating power than the sellers, Bank owned properties may be more competitive..

House searching during fall and winter makes buying a home less competitive, since most of the people purchasing are doing so during the summer before school starts up again.

It's the Fall/Winter Selling Season. Typically, sellers are motivated and interest rates are at all time lows.  Don't let this cycle pass!

Foreclosure Procedures Undergo Review

Mortgage lenders possibly could have filed some faulty papers during the foreclosing process on tens of thousands of homes. Some major banks have suspended the foreclosure process temporarily. Bank of America has halted foreclosures in all 50 states as banks are under review by state attorney generals and the Federal Housing Administration.

If foreclosures are delayed significantly, it can take longer for the housing market to recover.

Lakewood Neighborhood in Walnut Creek Data

On city-data.com, the Lakewood neighborhood in Walnut Creek, CA has it's own profile that goes over everything from median income, demographics to what time the average person leaves for work in the morning. Check it out here.

This is all made up of data that was collected in 2008, it's a very detailed profile. I currently own a home in this neighborhood and absolutely love it. If anyone is interested in buying or selling a home in the Lakewood Area feel free to contact me.