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Video Housing Report California Association of Realtors® (CAR) video updates are now on   Click image  Find Your Representative Below you will find the information you need to contact the leaders in the United States of America: To find your Senator, click here. To find your Representative, click here. Or call the Capitol Switchboard at 202-224-3121. House Speaker Nancy Pelosi Email: sf.nancy@mail.house.gov Phone: 202-225-4965 Senate Majority Leader Harry Reid Email: senator_reid@reid.senate.gov Phone: 202-224-3542 President Barack Obama To Email President Obama, click here. Phone: 202-456-1111 Homeland Security Secretary Janet Napolitano Mail: Department of Homeland Security Washington, DC 20528 Phone: 202-282-8495   The Feds FDIC Check out all the banks that have failed by clicking the above image. Who's Doing What in Business Receive notice when a new Closure & Layoffs column is published by receiving The Watch List newsletter. The Watch List is a powerful one-two-combination of both top-down macro analysis and bottom up micro real estate news, as well as valuable leads about companies expanding and contracting and property and loan investment opportunities.  It is available for free by e-mail, which is the quickest way to review all of the news in the column as soon as it is published and link directly to the news and features you want. Just e-mail me your name, title, company, company business, city, state, and e-mail address. You can reach me by clicking on the byline above or e-mailing me at Mark Heschmeyer   Housing Statistics Housing Statistics The Bay East Housing Reports are based in whole or in part on data supplied by the Bay East Association of REALTOR®S® or its Multiple Listing Service (MLS). Bay East MLS numbers reflect sales of homes located in Alameda, Castro Valley, Danville, Dublin, Fremont, Hayward, Livermore, Newark, Pleasanton, San Leandro, San Lorenzo, San Ramon and Union City by members of any REALTOR®® association, not just members of Bay East. Current Housing Statistic Reports by Area  Latest Real Estate News Unless otherwise stated articles appearing in this section are from the C.A.R. Newsline Reprinted with permission of the CALIFORNIA ASSOCIATION OF REALTORS® Harvard study finds job growth key to housing recovery June 16, 2010 - Improved affordability for first-time buyers and government incentives led to increases in sales of existing homes last year, according to the State of the Nation’s Housing report released by the Joint Center for Housing Studies of Harvard University.  The study also found a record number of foreclosures continue to add pressure to the housing market and millions of homeowners. Despite some positive signs early in the spring-buying season this year, housing continues to face significant challenges, according to the study.  “Many factors still are weighing heavily on the market,” said Nicolas P. Retsinas, director of the Center. “Elevated vacancy rates, record foreclosures, the expiration of the home buyer tax credit, and continued high unemployment all are causes for concern.” “If history is a guide, what happens with jobs will matter the most to the strength of the housing rebound,” said Eric S. Belsky, executive director of the Joint Center for Housing Studies.  “Right now, economists expect the unemployment rate to stay high, but if employment growth surprises on the upside or downside, housing numbers could too.” More info. Foreclosure activity continues to decline in May June 16, 2010 - Foreclosure filings – notices of default, scheduled auctions, and bank repossessions – declined 3 percent in May compared with April, but increased less than 1 percent compared with the same period a year ago, RealtyTrac reported.  Properties receiving a notice of default declined 7 percent in May compared with April and 22 percent compared with May 2009.  Foreclosure auctions decreased 4 percent in May compared with the prior month, while bank repossessions increased 1 percent during the same period, according to the report. California accounted for more than 22 percent of the total number of properties receiving a foreclosure notice in May, an increase of 3 percent from April, but a decrease of nearly 22 percent compared with a year ago. The top 10 cities with declining foreclosure activity on a year-over-year basis in May included: Las Vegas, nearly 18 percent; Merced, 7 percent; Modesto, nearly 28 percent; Cape Coral-Fort Myers, Fla., nearly 19 percent; Stockton, 33 percent; Riverside-San Bernardino-Ontario, 29 percent; Bakersfield, 19 percent; Reno-Sparks, Nev., 18 percent; and Phoenix, 9 percent. More info. Pending home sales rise 6 percent in April June 9, 2010 - NAR’s Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts signed in April, rose 6 percent to 110.9 from an upwardly revised 104.6 in March, and is 22.4 percent higher than April 2009, when it was 90.6.  Pending home sales currently are at the highest level since October, when the index reached 112.4 as first-time buyers rushed to beat the initial deadline for the federal home buyer’s tax credit.  The data reflect contracts and not closings, which usually occur with a lag time of one or two months.  In the West, which includes California, the index increased 7.5 percent to 107.9, 12 percent higher compared with a year ago. “There were concerns that only a small pool of buyers were left to take advantage of the [federal] tax credit extension. But evidently the tax stimulus, combined with improved consumer confidence and low mortgage interest rates, are contributing to surging sales,” Lawrence Yun, NAR chief economist said . “The housing market has to get back on its own feet and now appears to be in a good position to return to sustainable levels even without government stimulus, provided the economy continues to add jobs.” More info   Fed releases study on homeownership rate June 9, 2010 - The U.S. homeownership rate, currently down two percentage points from its 2006 peak of 69 percent, could decline by an additional five percentage points over the coming years to levels last seen in the mid-1990s, according to a report from the Federal Reserve Bank of New York.  The study looks at the number of underwater homeowners and excludes them from the official homeownership rate calculated quarterly by the Census Bureau.  Based on the study, the actual rate of homeownership is 62 percent, rather than the 67.2 percent rate as reported by the Census Bureau.  More info   Mortgage delinquencies decline in April June 9, 2010 - The number of delinquent mortgages loans—borrowers behind on their payments by 30 days or more, or who were in the foreclosure process—declined to 6.18 million in April compared with March, according to a report by Lender Processing Services.  Meanwhile, REO inventory rose 20.7 percent to 1.13 million units, a new high, compared with a year ago, according to the report. More info   MBA study examines contributing factors to housing downturn June 5, 2010 - Poor data, incomplete performance metrics, short-term focus, and unrealistic optimism among senior business managers contributed to the housing downturn, according to a study recently released by the Mortgage Bankers Association (MBA). The study, conducted by Professor Cliff Rossi of the University of Maryland and sponsored by MBA's Research Institute for Housing America (RIHA), analyzes the risk management processes employed by mortgage lenders leading up to the housing crisis and discusses lessons learned for future risk managers. Key findings from the study include: Subprime loan underwriting criteria expanded between 1999 and 2006 and a false sense of security with new products originated prior to 2007 occurred as a result of better than average economic conditions. To obtain a copy of the report, please visit the RIHA Web site at http://www.housingamerica.org. More info. Home prices nationwide decline 1.1 percent in first quarter June 5, 2010 - Home prices nationwide registered a 1.1 percent decline in the first quarter of 2010 compared with the first quarter of 2009, according to Freddie Mac’s Conventional Mortgage Home Price Index (CMHPI) Purchase-Only Series. The Index was down 2.1 percent compared with the fourth quarter. The CMHPI Purchase-Only Series includes only property values based on home purchases with a conventional mortgage in its calculation. Regionally, the Pacific Division, which includes California, decreased 2 percent in the first quarter of 2010. Over the last 12 months, home values increased 4.5 percent, and during the last five years, home values have decreased 13.2 percent, according to the CMHPI. More info. Senate to vote on SB 1178 this week June 5, 2010 - The Senate may vote again this week on SB 1178 (Corbett) to extend anti-deficiency protections to homeowners who refinanced and now are facing foreclosure. The bill was up before the Senate last Friday and fell two votes short of passage. The bill was then granted “reconsideration,” allowing it to be voted on again before the end of this week. C.A.R. is working on amending SB 1178 to address concerns raised by legislators while preserving the “no recourse” protection for borrowers who refinanced their purchase money mortgages. C.A.R. may issue another Red Alert this week asking REALTORS® in select areas to contact their Senator and urge them to vote “yes” on SB 1178. Stay tuned for details. More info.   Recovery reaches New York, L.A. June 4, 2010 - from CNN - The recovery has finally begun in the nation’s two largest metro areas, New York and Los Angeles, according to the latest Adversity Index data from Moody’s Economy.com and msnbc.com. To read the full story, please click here. Mortgage rates and a choice June 4, 2010 - from CNN - With mortgage rates again nearing their 50-year low, would-be buyers and homeowners have to make a choice: Buy or refinance now and lock in the rate; wait and hope rates sink even lower, as some economists are expecting; or watch rates rise to as much as 5.5 percent, as other economists predict, and make up the difference by an expected 5 percent dip in home prices. To read the full story, please click here. Want a loan modification?  Get your paperwork ready. June 4, 2010 - from CNN - Attention delinquent borrowers: If you want to get into the Obama administration’s mortgage modification program, you’d better have your paperwork ready. To read the full story, please click here.   More bank-owned homes likely to hit the market June 4, 2010 - from CNN -  It’s a bit like guessing how many pennies are in a gallon jug at the state fair, but housing analysts keep trying to count how many foreclosed homes bank and mortgage investors own.   To read the full story, please click here. Luxury sales bounce back June 4, 2010 - from CNN - After a near-disastrous 2009, the luxury market appears to be making a comeback, driven by growing buyer confidence, improved financing conditions, and more-realistic seller pricing. To read the full story, please click here.   After foreclosure: How long until you can buy again? June 4, 2010 - from CNN - Financing a home after foreclosure is possible for most homeowners.  Those who default on their mortgages due to economic hardships, such as job loss, may receive approval for another mortgage in as little as two years, while it may take more than seven years for strategic defaulters to be approved.   MAKING SENSE OF THE STORY FOR CONSUMERS Lenders utilize several methods in determining whether to grant mortgages, including the amount of money borrowers have saved; employment histories; and payment history. According to the chief economist with the Mortgage Bankers Association, lenders may be more willing to finance a mortgage for a borrower who defaulted on their mortgage as a result of factors beyond their control. Some homeowners who strategically default—intentionally not meet their mortgage obligations although they have the financial means to do so—assume they can raise their FICO scores by paying their others bills on time.  However, most future loan underwriters will scrutinize their records very closely, and if they determine the borrower strategically defaulted on their previous mortgage, the repaired credit score will not overshadow the walkaway. Although not impossible for strategic defaulters to finance another home purchase, it likely will be more difficult.  Lenders may ask for down payments of 30 percent or more to provide sufficient collateral to enable the bank to recoup most of its money in a foreclosure.  These borrowers also may be charged higher interest rates, even above the levels other borrowers with similar credit scores would receive. To read the full story, please click here.   More Tax Credit Information May 5, 2010 - We have received many calls and emails asking if a buyer may "double dip" by applying for both the state and federal tax credits.  According to C.A.R., for a limited time some buyers may be able to receive up to $16,000 to $18,000 in combined federal and state home buyer tax credits.  First Time Buyers: A first-time home buyer may be eligible for up to $18,000 in combined tax credits.  They must enter into a purchase contract before May 1, 2010, and close escrow between May 1, 2010 and June 30, 2010.  All other Buyers:  Those who are not first-time home buyers must also enter into a purchase contract before May 1, 2010, and close escrow between May 1, 2010 and June 30, 2010 to receive up to $16,500 in combined tax credits. However, they must purchase a property that has never been previously occupied. On Tuesday, Mar. 30 the California Franchise Tax Board released information about the new home buyer tax credits. You can review the summary by clicking here. C.A.R. has produced a table that compares the federal and state tax credits.  You can review the chart by visiting our Buying Real Estate page. NOTE: We urge you to consult a tax professional if you have questions about your eligibility to receive these tax credits.   IRS to host open house for small businesses, individuals May 5, 2010 - The Internal Revenue Service (IRS) will host a nationwide open house Saturday, May 15, to help small businesses and individuals solve tax problems.  Approximately 200 IRS offices nationwide will be open May 15, 9 a.m. - 2 p.m. local time. IRS staff will be available on site or by telephone, and will be equipped to resolve issues involving notices and payments, return preparation, audits, offers-in-compromise, and a variety of other issues.   The May 15 open house is the first of three events scheduled through the end of June. The next two are planned for Saturday, June 5, and Saturday, June 26. Details regarding those events will be available soon. More info. Borrowers spend less time researching a home loan than a car purchase May 5, 2010 - Despite the credit freeze of 2008, borrowers have not changed the amount of time they spend researching a home loan, according to a Zillow Mortgage Marketplace survey. The survey found that borrowers who obtained a home loan in the past five years typically spent five hours researching their options, unchanged from March 2008. Nearly one-third (31 percent) spent two hours or less. This is on par with the typical time spent researching a vacation or computer purchase, and half the time consumers typically allocate to research a car purchase. In the past five years, 16 percent of U.S. adults report they have obtained or refinanced a home loan and two-thirds (65 percent) of those admit they want to do things differently when shopping for their next home loan, according to the survey. More info.   Case Shiller: Home prices mixed in February April 29, 2010 - The 10-City and 20-City Composites tracked as part of the S&P/Case-Shiller Home Price Indices showed improvements in February. For the first time since December 2006, the annual rates of changes for the two Composites were positive, although 11 of the 20 metro areas experienced year-over-year declines.  The 10-City Composite rose 1.4 percent in February compared with a year ago, and the 20-City Composite increased 0.6 percent compared with February 2009.   Eighteen of the 20 metro areas and both Composites showed an improvement in February compared with January. More info.   Consumer confidence rises in April April 29, 2010 - The Consumer Confidence Index rose to 57.9 in April (1985=100) compared with 52.3 in March, the Conference Board reported yesterday. The Present Situation Index increased to 28.6 in April from 25.2 in March, and the Expectations Index improved to 77.4 from 70.4 last month, according to the report. “Consumer confidence, which had rebounded in March, gained further ground in April.  The Index now is at its highest reading in about a year and a half,” said Lynn Franco, director of The Conference Board Consumer Research Center.  “Consumers’ concerns about current business and labor market conditions eased again. And, their outlook regarding business conditions and the labor market was also more positive than last month. Looking ahead, continued job growth will be key in sustaining positive momentum."  More info.   Fed leaves key rate unchanged April 29, 2010 - The Federal Reserve today announced it will maintain its target for the federal funds rate in the 0 percent to 0.25 percent range, and continues to expect economic conditions to warrant exceptionally low levels of the federal funds rate for an extended period of time. “Information ? suggests that economic activity has continued to strengthen and that the labor market is beginning to improve," the Fed said in a prepared statement. "Growth in economic household spending has picked up recently but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit," the Fed said.  "Housing starts have edged up but remain at a depressed level.  While bank lending continues to contract, financial market conditions remain supportive of economic growth.  Although the pace of economic recovery is likely to be moderate for a time, the Committee anticipates a gradual return to higher levels of resource utilization in a context of price stability." In light of improved functioning of financial markets, the Federal Reserve has closed all but one of the special liquidity facilities that it created to support markets during the crisis.  The only remaining such program, the Term Asset-Backed Securities Loan Facility, is scheduled to close on June 30 for loans backed by new-issue commercial mortgage-backed securities; it closed on March 31 for loans backed by all other types of collateral.  More info. Housing starts rise for third consecutive month April 29, 2010 - California homebuilders pulled permits for 3,714 total housing units in March, a 4 percent increase compared with March 2009, and 7 percent higher compared with February, according to the California Building Industry Association (CBIA).  March marked the third consecutive month of month-to-month increases. According to statistics compiled by the Construction Industry Research Board (CIRB), homebuilders pulled permits for 2,231 single-family homes in March, an increase of 17 percent compared with March 2009 and 24 percent from February, while multifamily permits totaled 1,483, down 11 percent from a year agoF and 12 percent from the prior month. For the first three months of the year, permits were pulled for 10,292 units, an increase of 29 percent compared with the first three months of 2009 when 8,009 permits were issued. Single-family permits rose 34 percent while multifamily permits rose 22 percent. More info.   Mortgage fraud rises 7 percent in 2009 April 29, 2010 - Incidents of mortgage fraud and misrepresentation by professionals in the mortgage industry in the U.S. increased 7 percent from 2008 to 2009, according to a new report by the Mortgage Asset Research Institute. The pace has slowed since the 2007-2008 increase of 26 percent. Florida, ranked number one in the country for mortgage fraud and misrepresentation, followed by Rhode Island.  Rounding out the top 10 list were:  New York, California, Arizona, Michigan, Maryland, New Jersey, Georgia, Illinois, and Virginia. Rhode Island was not included in the top 10 list because the state's sample size did not meet the minimum requirements set for the survey. For the sixth consecutive year, the top fraud incident type in 2009 was application misrepresentation, followed by frauds related to appraisal and valuation misrepresentation, which increased from 22 percent of reported misrepresentation in 2008 to 33 percent.  Additional documented fraud types included, in order of volume, verifications of deposit, verifications of employment, escrow or closing costs, and credit reports.  Overall there has been a downward trend in total application fraud and misrepresentation, moving from a high of 67 percent in 2005 to 59 percent in 2009. More info.   California won’t tax forgiven mortgage debt April 14, 2010 - Governor Schwarzenegger on Monday signed SB 401 (Wolk) into law providing distressed homeowners with state tax exemption on debt forgiven in a short sale, foreclosure, or loan modification.  Effective immediately, this bill generally aligns California's tax treatment of mortgage debt relief income with federal law.  For debt forgiven on a loan secured by a qualified principal residence, borrowers now will be exempt both from federal and state income tax consequences.  The tax exemptions apply, with certain restrictions, to debts discharged from 2009 through 2012.  Californians who have already filed their 2009 tax returns may claim the exemption by filing a Form 540X amendment.   Taxpayers who do not qualify for the above exemptions (e.g., second home or rental property) may nevertheless be exempt under other provisions.  Most notably, taxpayers who are bankrupt are exempt from debt relief income tax.  Also, taxpayers who are insolvent are exempt from debt relief income tax to the extent their current liabilities exceed current assets.   Median list price rises in March April 14, 2010 - The median list price of homes increased by 1.07 percent in March to $263,754, and the median price reduction declined 3.02 percent to $20,200, based on homes surveyed by ZipRealty for its monthly review of Multiple Listing Services in 26 major U.S. markets. San Diego and San Francisco were among the housing markets with the lowest percentage of price-reduced MLS-listed homes.  In total dollars, San Francisco, Orange County, San Diego, and Los Angeles were among the markets with the largest median price reduction.  More info.   Federal tax credit update April 1, 2010 - Time is running out on the federal tax credits for first-time and repeat buyers. First-time buyers who enter a binding contract by April 30 and close escrow before July 1—and meet the income limits—are eligible for the full $8,000 credit (maximum, or 10 percent of the sales price, whichever is less) on their federal tax returns. The first-time home buyer credit applies to homes purchased for $800,000 or less, and does not require repayment if buyers live in the residence for three or more years.  Existing homeowners may be eligible for a tax credit (10 percent of the purchase price, not to exceed $6,500).  To be eligible for this credit, homeowners must have lived in their current home for five consecutive years out of the last eight years and must enter a contract to purchase a new or existing home by April 30, 2010.  Existing homeowners do not need to sell their current home to qualify for this credit, but must close escrow before by June 30, 2010.  More info    HAMP adjustments may help struggling homeowners April 1, 2010 - The Obama administration on Friday announced adjustments to the Home Affordable Modification Program (HAMP) and to the Federal Housing Administration (FHA) program to assist homeowners struggling to meet their mortgage obligations.  The program adjustments target three groups: Unemployed homeowners who are unable to make their mortgage payments; underwater homeowners; and homeowners behind on their payments and seeking loan modifications. Unemployed homeowners may qualify for three to six months of reduced payments while searching for new employment.  During this time, payments will be reduced to 31 percent of their current gross monthly income.  To qualify, borrowers must, among other things, be living in their homes, have loan balances less than $729,750, provide verification of unemployment benefits, and request assistance within 90 days of delinquency on the mortgage. Underwater homeowners—those who owe more than their home currently is worth—may be eligible for a new FHA refinance option that will allow those who are current on their mortgage payments to refinance their mortgages into new FHA-insured loans equal to no more than 115 percent of their home’s current value.  The difference between the original loan balance and the new balance gradually will be forgiven if the homeowner remains current on payments for three years. Homeowners seeking mortgage modifications under HAMP may be eligible for mortgage principal reductions.  Although lenders always have had the option to do so, many have chosen instead to reduce interest rates.  However, under the new guidelines, lenders reducing mortgage principal may receive higher financial incentives. The incentives will be paid jointly by the private sector and the federal government through a $50 billion allocation from the Troubled Asset Relief Program (TARP). The program changes are expected to go into effect in the fall.  However, a measure to offer larger incentives to lenders who facilitate short sales or deeds-in-lieu of foreclosure, as well as assistance for unemployed homeowners, will be in place within a few weeks or months, according to the administration. More info    Governor Signs Home Buyer Tax Credit Legislation Into Law March 25, 2010 - Late this afternoon, Gov. Schwarzenegger signed Assembly Bill 183, the Homebuyer Tax Credit legislation, into law. His actions today are the result of our efforts in Sacramento over the last several weeks as members and our team in the capital worked for the bill’s passage before it landed on the governor’s desk. AB 183 will provide $200 million for home buyer tax credits, allocating $100 million for qualified first-time home buyers of existing homes and $100 million for purchasers of new, or previously unoccupied, homes. The eligible taxpayer who purchases a qualified personal residence on and after May 1, 2010, and on or before Dec. 31, 2010, or who purchases a qualified principal residence on and after Dec. 31, 2010, and before Aug. 1, 2011, pursuant to an enforceable contract executed on or before Dec. 31, 2010, will be able to take the allowed tax credit. The credit is equal to the lesser of 5 percent of the purchase price or $10,000, in equal installments over three consecutive years. Under AB 183, purchasers will be required to live in the home for at least two years or forfeit the credit (i.e., repay it to the state). The positive impact of the federal home buyer tax credit is clear. Nearly 40 percent of first-time home buyers said they would not have purchased a home if the federal tax credit for first-time home buyers was not offered, according to C.A.R. research conducted last year.   The state’s previous home buyer tax credit program was so successful that it ran out of tax credits by the end of June 2009, eight months before it was set to expire and just as housing markets appeared to be turning a corner.  Unlike last year’s legislation, AB 183 adds a tax credit for the purchase of an existing home by a first-time home buyer.   AB 183 will significantly contribute to the effort to stimulate jobs-creation within California's housing market by helping to incentivize first-time home buyers to purchase homes that have been abandoned, foreclosed upon and returned to the lender, or have been sitting on the market for extended periods of time. It is these homes that will require substantial rehabilitation by the new owners, which will in turn generate a tremendous increase in jobs and accessory purchases connected to home improvement activities.   Undisclosed short sale payments may be illegal March 24, 2010 - Undisclosed payments in short sale transactions, especially those paid outside of escrow, may violate the law, including RESPA, laws against loan fraud, and licensing laws. Concealing a payment to the seller’s junior lender from a federally insured senior lender may constitute loan fraud, which is a crime punishable by 30 years of imprisonment and a $1 million fine. Depending on the specific circumstances, carrying out these payment requests also may violate other laws and regulations, and an agent's participation may be subject to license revocation by the Dept. of Real Estate (DRE) or other disciplinary action. Agents and their clients are encouraged to file complaints regarding fraudulent activities to the proper authorities. C.A.R. in Action  C.A.R. LAUNCHES MORTGAGE PROTECTION PROGRAM April 01, 2009 - To help provide first-time home buyers with peace of mind when purchasing a home, the C.A.R. Housing Affordability Fund (C.A.R.H.A.F.) is offering a new mortgage protection program to first-time home buyers. Through the Housing Affordability Fund’s Mortgage Protection Program, first-time home buyers who lose their jobs due to layoffs may be eligible to receive up to $1,500 per month for up to six months to help make their mortgage payments. A qualified co-buyer also can participate in the program, for a monthly benefit of $750 per month for up to six months. Program benefits also include coverage for accidental disability and a $10,000 death benefit. C.A.R.’s Housing Affordability Fund is dedicating $1 million toward its Mortgage Protection Program this year, and estimates that up to 3,000 families will benefit from the program throughout 2009. To qualify for the Mortgage Protection Program, applicants must: . Be a first-time home buyer – someone who has not owned a home in the last three years . Open escrow April 2, 2009, or later, and close on or before Dec. 31, 2009 . Use a California REALTOR® in the transaction . Purchase the property in California . Be a W-2 employee (cannot be self-employed or military personnel) First-time home buyers must request an application for the H.A.F. Mortgage Protection Program from their REALTOR®. For those of you who already own your home, tell your friends and family who might like to own their own home about this new program.  Be sure to call Joanne Gardiner at 510-429-4800 to assist you and your friends in the purchase of a home.    The Fed's Beige Book THE BEIGE BOOK Commonly known as the Beige Book, this report is published eight times per year. Each Federal Reserve Bank gathers anecdotal information on current economic conditions in its District through reports from Bank and Branch directors and interviews with key business contacts, economists, market experts, and other sources. The Beige Book summarizes this information by District and sector. An overall summary of the twelve district reports is prepared by a designated Federal Reserve Bank on a rotating basis. U.S. Census Monthly Economic Indicators  Need a Break?   Coffee Break Cyber Kitchen Words Worth    Shop Online Richard's for "The Good Goods" Browser our bargains    This Month's Newsletter Over The Fence Newsletter  August 2010 What's Inside Home Safety Tips Lawn and Garden Home Safety Tips August 1-7: Simplify Your Life Week August 23-27: National Safe at Home Week August 9: Eleanor Roosevelt Day—the 2nd Monday in August 3 Ways to Simplify Your Life "Our life is frittered away by detail…Simplify, simplify." — Henry David Thoreau Recipe: CHICKEN TORTELLINI SALAD August 2010 View online or print a copy Prior Issues: June 2010 July 2010  May 2010 April 2010 March 2010 February 2010 January 2010 December 2009 November 2009 October 2009 September 2009 August 2009

For information on buying or selling east bay homes, please contact me at 510-429-4800 or send me a note on the Contact Joanne form. Thank you, Joanne P.S.  Be sure to add us to your favorite places. Joanne L. Gardiner, Broker, e-PRO Realtor® California Department of Real Estate Brokers License Number: 00822285 California Department of Housing and Community Development Occupational License Number: SP1178511 Advantage Realty  A.R.M Homes 3205 Whipple Rd., Union City, CA 94587-1218 Office: 510-429-4800 Cell phone: 510-589-4794            web site: http://www.joannegardiner.com

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