In Lieu of Gifts

Claire, Jack, Miles, Nia and Che enjoy pizza at California Pizza Kitchen in Emeryville

This holiday two of my close friends and our children celebrated our second annual toy donation! This is a small but meaningful toy drive. Instead of exchanging gifts, we buy toys for children at Children's Hospital Oakland and celebrate the donation with a dinner out. This way we can bring some cheer to ailing kids, and our children can realize the true meaning of the holiday season.

A Worthy Cause

Police officers and firefighters visited children at a Hoopoe Books Share Literacy event to help them learn the importance of good reading and thinking skills.

The northern California chapter of Share Literacy located in Los Altos, California, mission is to reduce the growing literacy gap between rich privileged and poor at risk children and their families. Share Literacy promotes the development of reading and thinking skills by partnering with established early childhood education agencies serving poverty-level and low-income families, with after-school programs and with organizations providing ESL and adult literacy instruction. For information or to donate to this charity, click here.

Hoopoe Books Share Literacy Program distributed 23,240 books this year to help over 16,500 underserved Bay Area children learn reading and thinking skills, has received a $90,000 grant from the Kaiser Permanente Community Grants Program.

Just in time for the holidays, the grant will help spread cheer to children with the donation of over 10,000 Hoopoe books to charitable organizations and schools serving needy families. The books (some bi-lingual English-Spanish) are earmarked for holiday gift/toy programs. An additional 7,500 books have been requested for give-away programs in early 2009.

The Children’s Book Project/East Bay distributed 3,000 books to organizations including: the Oakland Housing Authority, Oakland Library (Second Start Program); Clinica de la Raza (affiliated with Reach Out and Read) East Oakland; Berkeley Library, Berkeley Reads, All or None of Us (a project of Legal Services for Prisoners with Children), Richmond chapter; and schools in the unified school districts of Oakland, Hayward, San Lorenzo, Alameda, San Pablo and Union City.

Snow and Rainbows in Oakland Today!

Today I felt like a little kid! As I was sitting at my desk in my home office, I heard the loud thud of hail on my patio. I ran outside to take a few snapshots. As I was driving my son home from school, the sun peaked out through the rain, and a brilliant rainbow put a smile on our faces.


Snow on the ground earlier this morning in Montclair, photo courtesy of Tom Kramer

Transfer Tax Change For Alameda, Ca.

Effective December 12th, 2008 the city of Alameda increased their point of sale city transfer tax from $5.40 per $1000 of purchase price to $12.00 per thousand. There are two transfer taxes involved in buying a selling a home; county transfer tax is a generally paid by the seller when a house is sold. The county of Alameda charges $1.10 per $1000 of purchase price, so if a house is $500,000 the transfer tax will be $550. City transfer tax varies city to city, this tax is generally split 50/50 between the buyer and seller. So if you purchase a house in Alameda for $500,000 both the buyer and seller will pay, $3000 each as part of their closing cost.

Charming Alameda

Recently, I was house hunting with a client in Alameda. A quick drive from Oakland across the Park Street bridge and I was in sleepy Alameda; a community I visit often for weekend soccer games. (My children both play soccer.) As Alameda develops and improves, it maintains the small town charm we love. Alameda is loved for its close proximity to the entire East Bay and San Francisco, the beach, the ferry system to San Francisco, the performing school district and tree-lined streets.

After I showed a few homes and parted with my client, I stopped for lunch at Tomatina and stepped into a cozy book store, Book Inc. I would love to live walking distance to Park Street and this revived downtown, "main street". With the newly restored Alameda Movie Theatre on Central to the Peet's Coffee; this is an ideal walking neighborhood.


I love this gorgeous building on Park Street, Alameda Ca.

Test Your Child's Toys For Lead In Oakland!

The Center for Environmental Health is offering free toy testing. There x-ray fluorescence analyzer will give you instant readings on lead and other potential hazards in your children's products. CLICK HERE for more information. Please come to one of the following sessions:

• Mondays through Thursdays, from now until December 23rd, from noon-6pm at the Center for Environmental Health (2201 Broadway, Suite 302, Oakland, 94612. By BART, get off at 19th Street Downtown Oakland station and walk north three short blocks to 22nd St.)
• Thursday, 12/11 from 11:30 am - 5:30 pm at Fruitvale Village / BART Station, E.12th Street and 34th Ave, Oakland 94601
• Friday, 12/12 from 2:00 - 5:00 pm at the Lincoln Square Recreation Center, 250 10th Street (at Harrison), Oakland 94607
• Saturday, 12/13 from 10:00 am - 2:00 pm at the Berkeley Farmer's Market Holiday Crafts Fair, Martin Luther King, Jr. Civic Center Park, Center St. and MLK, Jr. Way, Berkeley 94703
• Tuesday, 12/16 from 5:00 - 7:00 pm at the Golden Gate Recreation Center, 1075 - 62nd Street, Oakland 94608
• Tuesday, 12/16 from 6:00 - 8:00 pm at the Rockridge Branch of the Oakland Public Library, 5366 College Ave, Oakland 94618
• Thursday, 12/18 from 4:00 - 6:00 pm at the Montclair Recreation Center, 6300 Moraga Ave, Oakland 94611
• Friday, 12/19 from 5:00 - 7:00 pm at St. Paul's Lutheran Church, 1658 Excelsior Ave, Oakland, CA 94602
• Saturday 12/20 from 9:00 am - 2:00 pm at the Berkeley Flea Market (Ashby BART), corner of Martin Luther King Jr. Drive and Ashby Ave, Berkeley 94703
• Sunday, 12/21 from 12:30 - 3:00 pm, at the Berkeley Fellowship of Unitarian Universalists, 1924 Cedar at Bonita, Berkeley 94709
• Monday12/22 from 4:30 - 6:30 pm at the deFemery Recreation Center, 1651 Adeline Street, Oakland 94607

Is a 4.5% Mortgage Interest Rate on the Horizon?

I surround myself with highly regarded professionals who support my clients and myself. This allows me to focus on one core thing; helping people obtain their real estate goals. Yesterday my client Jim called me and wanted to know more about the possible mortgage cut to a 4.5% mortgage interest rate. The following a fantastic email from Vince Wirthman of 1st Western Mortgage in Berkeley you can contact him at 510-527-2840.

If you have questions regarding home values or Oakland-Berkeley real estate, click the email button on the side of this blog, (deidrejoyner@gmail.com) or call me at 510.693.4253

Alright, everybody take a breath and let’s talk about what REALLY is going on.

Business television and newspapers are abuzz this morning with talk of "four and a half percent mortgage rates". The talk stems from a leaked story that the U.S. Treasury MAY intervene in the mortgage market, IN AN ATTEMPT to lower rates by AS MUCH AS a full percentage point below their current levels. Wow. That’s pretty specific.

As cited by the more responsible journalists however, the story is 100% speculation. Naturally, that doesn't stop the press from covering it. And, of course, it creates a wild frenzy of excitement in the real estate and mortgage industry and for homeowners. My message to Realtors and homebuyers in escrow or house-hunting and to homeowners who are refinancing is simple, and I state this with the full knowledge that at first glance some will think this self-serving – do not make the mistake of thinking that this hub-bub about 4.50% rates is a done deal. Do not stop your transactions or house-hunting based on something that may just as easily not happen. Talk this over in detail with your Realtor and mortgage professional and determine, for YOUR specific situation, what is the best course of action. As is the case with all things speculative, it's important to remember to look at the facts and not be swept up by the media-sponsored frenzy. So what are the facts? Here’s what we know:

1. The Fed and the Treasury do not set mortgage rates – Mortgage-Backed Securities traders do, based on simple supply and demand. Look at the chart below. This is today’s chart of the price of mortgage-backed securities. Notice that nothing significant has happened today (last green bar to the right). Right now, the price of mortgage-backed securities is up only 12 basis points. Price going up means rates improving. 12 basis points is nothing, and won’t even get a lender’s attention. Note also that on Tuesday, Nov. 25th (tall green bar 6 bars to the left of today), when the Fed announced their plan to purchase $500 Bn of mortgage-backed securities, prices immediately shot up 156 basis points. That move gave us an immediate improvement in mortgage interest rates of .50%. and that was before the Fed spent even $1 on any mortgage-backed securities. That is because the market is forward-looking and prices-in known factors immediately. Today’s speculative rumor has given us nothing, so obviously traders and mortgage bond investors do not believe it. Mortgage rates have actually worsened in the last 3 days.

2. Treasury or Fed intervention doesn't guarantee low rates indefinitely. The fact that mortgage rates are up by a quarter-percent since last week proves it.

3. Zero details about the plan have been confirmed. Everything you've heard about 4.5 percent rates is a guess at this point.

In order to ground my conclusions for this email, I sought out everything I could find about this story and have included some excerpts below for your review. Note that the language in these reports is purposely vague and quite weak. Maybe this rumor ends up being partially true, maybe it doesn’t. There are many reasons why it could happen, and there are many reasons why it wouldn’t. If something does happen, rates COULD go lower SOMETIME in the future. If nothing happens, rates could be higher by the time we know nothing is happening. We will just have to see how things develop from here.

“The Treasury’s consideration of additional efforts to breathe life into the housing market was first reported on The Wall Street Journal’s Web site. People familiar with the Treasury’s plans said that Treasury officials had met with top executives at Fannie and Freddie last week but that neither had been notified that any steps were taken toward putting such a plan into effect. By one account, the new program would be available only to home buyers, not to people who simply want to refinance their existing loan at a lower rate.” via NYTimes.com

Mortgage News Daily - The Journal reported that the government would encourage banks to issue new mortgage loans at lower rates by offering to purchase securities backed by the loans at a price equivalent to the 4.5 percent rate, funding the program by issuing Treasury debt at 3 percent. The Treasury Department plan is only in the talking stage and may not be ready until after President Bush leaves office on January 20 at which point it would be necessary for President-elect Obama to sign off on it.

CNN Money - Lobbyists are pushing the Treasury Department to consider a plan to purchase mortgage-backed securities in the hopes of driving mortgage rates to as low as 4.5%, an industry source said. Spokeswomen from Treasury and the Federal Housing Finance Agency, which oversees Fannie Mae (FNM, Fortune 500) and Freddie Mac (FRE, Fortune 500), declined to comment.

"It is clearly designed to bring buyers into the marketplace and soak the inventory of unsold homes," said Greg McBride, senior financial analyst at Bankrate.com. But others questioned whether rates would remain low and, even if they did, only a narrow slice of credit-worthy borrowers would benefit. Rates are already inching up, hitting 5.75% on Wednesday, said Keith Gumbinger, vice president of HSH Associates. Several government attempts to lower mortgage rates this year have failed to have a lasting effect.

Finally, super-low rates could keep private investors out of the mortgage-backed securities market, forcing the government to remain the primary buyer of such investments, Gumbinger said. "I can't imagine there will be a significantly active marketplace of people who want to buy at these low rates," he said. (That would not be an acceptable long-term situation, and the Treasury knows that.)

Thomas Vanderwell had this to say on his blog “Straight Talk About Mortgages:

“So far, the market has shown that they would rather earn less (frankly close to zero) and invest in US Treasuries than they would invest in mortgage backed securities. Given the history of Fannie and Freddie recently (how many billions did they lose in the 3rd quarter?) I’m not sure anyone can blame them. Can you?

So if investors are avoiding Mortgage backed securities like the plague, and there are trillion of dollars of them out there, will the interaction by the Fed make a difference? And if no difference is made, how will we get 4.5% mortgage rates? And if we do not get these 4.5% mortgage rates that homeowners will now expect, how in the world are we going to sell homes to people waiting for cheap mortgages?

Shop Oakland and Give The Gift of Art

This weekend will be buzzing with fresh new art!




Creative Growth's Annual Holiday Sale opens Friday, it's also First Friday / Art Murmur in Oakland. Creative Growth Art Center serves adult artists with developmental, mental and physical disabilities, providing a stimulating environment for artistic instruction, gallery promotion and personal expression, Click Here for more information.


This Friday evening from 5-9 ISSUES on Glen Avenue off Piedmont Avenue will host a special opening for artist, Olivia Allums. This show will feature 30 small paintings that feature signs from Oakland businesses. Click Here for more information.


My friend and client, Leah Rivers will sell her handmade jewelery including white pearl double-wrap dewdrop necklaces; contemporary new all-silver pendants on chains; unusual antique glass bead bracelets; earrings with deep red garnets, cheery green peridot, tourmaline, and turquoise; and many other fantastic jewelry creations.

When: Sat & Sun, December 6th & 7th10 am - 5 pm
Where: Whitney Smith Pottery Studio
539 Athol Ave. Oakland, CA

If you are going to shop, shop Oakland!

Open House Cheer at St. George Spirits - Alameda, Ca.

On the somewhat deserted Alameda Naval Base is St. George Spirits. Jorg Rupf started St. George Spirits 25+ years ago, with a vision of producing small batches of Eau de vie, (a clear colored fruit brandy). Using the highest quality fruit and ingredients St. George Spirits grew to America's premier craft distiller producing, Eau de vie, grappa, whiskey, liqueur, a reserve collection, and their insanely popular Hangar One Vodka.

The other week I attended Hangar One-St.George Spirits Open House. The old airplane hangar, now impeccably clean distillery was packed with ice sculptures, spirit tastings, music, catered food, and stations from local vendors such as Recchiuti Chocolates.

Upstairs in the private tasting room, a small group of people were able to hear Jorg speak about his methods while tasting his product, including his newest product line, Agua Azul. Agua Azul is made from 100% blue agave - (the tequila weed of the Agave tequilana species, is an agave plant that is an important economic product of Jalisco state in Mexico.)





Me, (Deidre) with Jorg

Recchiuti Chocolates had a table filled with amazing chocolates.

Jorg teaching his secrets to a small group of St. George patrons.

This Mid-Century Home in Oakland, Ca. Has Life!

The keys are exchanged and the torch is passed.

I have had the great opportunity to work with many clients over the years and match them with houses that fit their personalities. Recently, my client Jorg came to me with a few items on his property wish list:

1. A home walking distance to shops
   
2. A property with a spectacular view
   
3. An older home with character
4. An Oakland home

Shortly into our home search we found the perfect house in the Upper Rockridge District of Oakland. Mr. and Mrs. Dondero purchased this piece of land in the early 1940's, but because of World War II they were unable to break ground for sometime. After 20 oak trees were removed from the lot, the Dondero's discovered that the house had a panoramic view. After discovering the breath taking San Francisco, Berkeley and downtown Oakland views, the house was designed to bring the view into almost every room. Being a prominent stone builder in San Francisco, Mr. Dondero integrated a variety of stone from various prestigious San Francisco buildings into his home. The walls are Venetian plaster, (Venetian plaster is a mixture of gypsum, sand and lime or mix of aged slaked lime, ground marble dust, and pigment. This mixture is usually tinted or colored before it is applied with a spatula or trowel.) Because the color is in the mixture, one can simply sand the walls when they are dirty or scuffed instead of painting them. After 59 years the walls are in fantastic condition.

This Oakland home has a distinct mid-century modern flare, on a level lot with courtyard and terraced backyard, immense rooms, floor to ceiling windows, stacked flagstone fireplace and more.

Well designed and constructed, most of the features and finishes are original and in pristine condition. Over the years there were a few enhancements, the stove that needed replacement was replaced with a Jenn-Air range complete with an oversized stainless steel hood, and the old absestos roof that saved this home from destruction during the Oakland Hills fire of 1991 was replaced with a composite tile roof, then topped with solar panels. At the close of escrow Jorg and I had the opportunity to meet with Mr. Dondero as he gave us the guided tour of his masterpiece. Mr. Dondero remembered every nuance, every step and it was with pride and honor that he handed Jorg the keys.

Espaller is a horticultural technique of training trees, by pruning and grafting them to grow into this flat angular design. Popular in Europe fruit trees can grow in courtyards or against fences, yield fruit without taking up much space. I think this old world technique is stunning. Mr. Dondero says this lemon tree has been here for years.

The wooden cut-out panels that cover the windows that flank the front door have hinges and locks and open easily to clean the windows. The wooden angles remind me of a Greek key pattern.

Mr. Dondero is telling Jorg all of his secrets to maintaining the backyard and drains