The figures for the 1st quarter have come in with some predictable results. Housing sales are way up (almost 200% in Hayward!) with the bulk of these sales in the lower end markets. Foreclosures have been the bread and butter of this market with Short Sales and REOs bringing in buyers from all over. I've had one eager man in New Zealand who has been buying up properties in Richmond.

The low interest rates combined with the $8000 tax credit has made first-time buyers and investors dive into affordable East Bay and Oakland Real Estate. The median sales price of homes sold has dropped dramatically because of the focus on the lower end market. The median price of a Oakland home sale has dropped 70% since the same quarter last year. While many areas of…

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 Ok forgive the sensationalism I just wanted to  welcome back Capt. Richard Phillips who was held hostage by the Somali pirates. What an ordeal, I can't imagine. It was just a nice day at the Union Point Park in Oakland again. I caught site of this beautiful ship tied up at the harbor and . The pirates wish they could command a boat this regal.

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money_120I've been getting a lot of calls about the Governments First-Time home buyers credit. The newly passed legislation allows first-time buyers to claim a credit of up to $8,000, or 10% of the home's value, whichever is less, on their 2008 or 2009 taxes. This is a refundable tax credit meaning that you can actually have the money refunded to you even if you don't owe the full amount on your taxes.

The purchase must be made between Jan. 1, 2009 and Nov. 30, 2009 to qualify for the credit. Buyers must make less than $75,000 for individuals and $150,000 for couples. To qualify has a first time home buyer you cannot have purchased a home in the last three years. They must also live in the house for at least three years, or they will be obligated to pay back the…

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