real estate

The U.S. House of Representatives passed H.R. 3211 (The Mortgage Choice Act of 2013) on June 10. According to the National Association of Realtors the act “importantly redefines a provision in the ability-to-repay rule that requires lenders to make good-faith efforts to determine that their borrowers can repay their mortgages before initiating the loans.

Affordability constraints, low inventory played roles

California home sales eased slightly in May as a shortage of homes and housing affordability concerns held back would-be home buyers, the California Association of Realtors (C.A.R.) announced on Tuesday. Meanwhile, the median home price posted higher from both the previous month and year for the third consecutive month and remained at its highest level since December 2007.

The Planning Board stopped short of recommending the city enact rent controls Monday, instead voting 4-3 to ask the City Council to consider setting up a task force to study whether people are being displaced by rising rents.

Read this entire story and more Alameda news at http://webh.it/alamedasun.

 

305 Harbor Light Road
Offered at $925,000
Open Sunday (June 15, 2014) 2-4PM

This beautiful shoreline beach area home has been well maintained and ready for you to move in. The large home has more than 2,300 square feet of living area, total of 4 bedrooms and 3 bathrooms. 

This includes a large upstairs master bedroom addition built in 1985, with walk-in closet and master bath. Also a large family/living area upstairs allows for sweeping views from the bay to the Oakland hills from a second-story deck built off the upper addition. 

Freddie Mac’s June 5 Primary Mortgage Market Survey showed that the average fixed mortgage rates rose 2 basis points to 4.14 percent last week. This marked the first time in five weeks that rates have not fallen. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.91 percent.

The 15-year fixed-rate mortgage also rose, averaging 3.23 percent, up 2 basis points from May 29, when it averaged 3.21 percent. A year ago at this time, the 15-year ficed-rate mortgage averaged 3.03 percent.

In 1880 Adolph H. Schnabel hired Edward Childs to build a home for him at 2233 Santa Clara Ave. The federal census, taken in June of that year, shows Adolph and his brother Augustus living in Otto Beck’s hotel on Montgomery Street in San Francisco. Both the census and the home’s documents list Adolph Schnabel as a mining expert.

Alameda homeowners will see a new fee on their property tax bill effective July 1. Last week the Alameda County Waste Management Authority Board adopted a hazardous waste fee of $9.95 per year per household. 

The board said that the county would use revenue from the fee to support the countywide household hazardous waste program.

The California Association of Realtors’ (C.A.R.) Pending Home Sales Index dropped just 0.5 percent from 114.4 in March to 113.8 in April. This is down considerably from the 121.1 revised index recorded this time last year. This slight change from March to April was substantially lower than the 6.5 percent drop from March to April observed over the last three years. The year-over-year decline in the index has been tapering over the past few months and should level off in the coming months, C.A.R stated in the press release that announced April’s index. 

All real estate transactions listed in Home Sales were supplied to the Alameda Sun by CalREsource. Neither the Sun nor CalREsource guarantees the accuracy, timeliness or completeness of the information.

A British-born architect whose name we associate with the Arts and Crafts movement designed the house that Girls Inc. of the Island City call home today.

Ernest Albert Coxhead was born in 1863 in the English seaside town of Eastbourne, about 70 miles south London. He and his five siblings — Ernest was the fourth oldest — lived a peripatetic existence. They moved frequently as their mother, Mary, watched over them and their father, William, eked out a living as a schoolmaster. The family lived a more settled way of life after William took a job as a boarding house keeper.

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