Real Estate

 

Freddie Mac’s April 4 Primary Mortgage Market Survey showed mortgage rates held steady this week after experiencing major drops last week. The survey reported that the average 30-year fixed-rate mortgage rate of 4.08 percent rose 2 basis points from the March 28 average of 4.06 percent. This time last year, the 30-year fixed averaged 4.40 percent.

The  average 15-year fixed-rate mortgage stood at 3.56 percent on April 4, up 1 basis point from March 28, when it averaged 3.55 percent. A year ago at this time, the 15-year fixed averaged 3.87 percent.   

At 1223 Post St. in Alameda’s East End, a humble Gold Rush-era cottage still stands. It once housed a Norwegian immigrant named Christopher Christensen and his family. Post Street residents Farrah Morin, Safia Pigott and Abby Hayton celebrated the 168th anniversary of the discovery of gold on Jan. 24, 1848, on the steps of this Gold Rush-era cottage. That cottage inspired the Culinary Academy of Post Street to learn about the East End’s Gold Rush heritage. We also sampled Gold Rush grub including one special item first served in 1849 that you can still enjoy today!

The staircase on the high-basement cottage at 2019 Pacific Avenue in Alameda draws the eye upward to the home’s full porch. A row of spindles complements the porch that sweeps across this Queen Anne-style home. Fish-scale shingles — like the spindles, signature Queen Anne elements — decorate the second-story dormer, which is built in the form of a pediment. A pair of windows on each side of the entry door adds symmetry to this home. The window in the dormer echoes the design of the windows below. 

Map & Story by Chris Ringewald

Housing prices, gentrification and inequality have been hot topics in the news lately. Recent articles and opinion pieces in the Alameda Sun have wrestled with how many people will move to Alameda due to new development, and others have grappled with how many will move out through eviction. 

Somewhat lost in the discussion has been a sense of just how many people have been moving in, and outside of specific developments, where the most new Alamedans are settling.

Numbers indicate strengthening real estate market

California pending home sales rose sharply from last July and posted the strongest year-over-year increase in more than six years, the California Association of Realtors (C.A.R.) recently reported.

The association’s Pending Home Sales Index, which is based on signed contracts, climbed 17 percent on an annual basis to 122.3 in July.

This marks the eighth straight month of year-to-year gains and the sixth straight month of double-digit advances.

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