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![]() RED OAK OPPORTUNITY FOUNDATION |
WE JUST GRANTED $65,000 TO EAST BAY NONPROFITS |
Red Oak is excited to share that the Red Oak Opportunity Foundation (ROOF) has awarded $65,000 to 6 very worthy East Bay nonprofits: Rising Sun Center for Opportunity, YES Nature to Neighborhoods, SOS! Richmond, the California Fire Safety Council, Earth Island Institute and LavaMaex. This completes the donation of over $90,000 in funds that were raised in 2020. In the near future, ROOF plans to make additional awards with 2021 funds. With recommendations made by both Red Oak agents and staff, it was determined that some of the most pressing issues facing the East Bay include fire safety, homelessness and helping underprivileged youth, which is why we selected these wonderful charities For over 35 years, ROOF has been giving back to East Bay communities by donating funds to local nonprofits that might not receive significant funding from larger establishments. Each year Red Oak agents - along with staff members, clients, partners and friends - contribute to the foundation. Since its inception ROOF has distributed over $1.5 million across the East Bay, providing support to the unhoused, training for the unemployed, and educational resources to those in need, to name just a few. We welcome you to learn more about these recipients and help support their missions:
If you or your company would like to contribute to ROOF, a 501(c)3 nonprofit, all donations are 100% tax-deductible and go directly to support your local East Bay neighbors. Click here to donate now. |
RECENT TRANSACTIONS |
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MARKET UPDATE: OCTOBER 2021 |
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The pandemic put the East Bay real estate market into overdrive, with activity reaching a fever pitch in the first half of 2021. By July 4, however, the market relaxed (somewhat) into a typical seasonal slowdown. Normal seasonality continued when we hit Labor Day and the number of new listings doubled the very next week. (Even with that surge, inventory was at its lowest level since 2017.) Much of the post-Labor Day market is reflected in this October report. You'll find that the number of sales declined 1.3%, mainly due to the fact we are comparing to last year's surge of activity. However, all other key metrics reflected an extremely active and competitive market: Median price increased 19.4% to $1,200,000, homes sold an average of 18.4% over list, and days on market averaged just 21 days. All 3 metrics were the strongest ever recorded for the month. Looking forward, we expect November numbers to be equally strong as buyers continue to absorb post-Labor Day inventory. However, the number of new listings is currently taking a steep decline, so we expect December and January to be relatively quiet, right in line with seasonal trends. Reach out if you would like a custom analysis that can help you reach your real estate goals. |
MORTGAGE UPDATE |
The Consumer Price Index (CPI) which measures inflation on the consumer level, rose by 0.9% in October, which was much higher than expectations of 0.6%. The year-over-year reading increased from 5.4% to 6.2%. The core reading, which strips out food and energy prices, rose by 6%, which was also much higher than expectations and hit a 30-year high for that reading. On a year-over-year basis, the core reading jumped from 4% to 4.6%. The 30-year bond auction on November 10th was also extremely weak following the hot inflation data, which led investors to believe rates will be higher in the future. The yield curve is flattening, which is often a sign of a pending recession and while we're not there yet, investors are starting to get concerned. All of this news is combining to push rates generally higher. The expectation is now built into the market that the FED will increase rates earlier than anticipated in 2022 in order to fight inflation. If you haven't already done so, now is the time to get pre-approved for a mortgage or to refinance an existing loan before a further increase in rates. If you have any questions about this, please contact Faramarz Moeen-Ziai of CrossCountry Mortgage, LLC at fmz@myccmortgage.com or 510.254.4697. Personal NMLS342090 | Branch NMLS2020284 | Company NMLS3029 |
![]() PHILIPPA ROBERTS |
LOCAL BUSINESS SPOTLIGHT: PHILIPPA ROBERTS |
If you've ever been shopping on Piedmont Avenue in Oakland, chances are you've passed by Philippa Roberts, a gift shop specializing in handmade jewelry and home accessories. Philippa herself is a jewelry designer whose pieces are also carried by specialty shops around the world, including at the esteemed SFMOMA and DeYoung Museum. Her shop is a collection of items she curates from all over, including jewelry by some of her favorite designers and hand-selected gifts for the whole family. The shop is the perfect place to go when searching for a gift for that special someone, and is currently filled with holiday treasures! Their annual sample sale will be held December 1-4 in the studio at the shop, by appointment for the first three days (shop will still be open). Go online to select a time, or simply stop in the shop. As the holidays approach, we encourage you to support small, local businesses throughout our East Bay communities. They are a large part of what continues to keep our beloved neighborhoods so special. 4176 Piedmont Avenue, Oakland CA 94611 | 510.655.0656 | info@philipparoberts.com |
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