OAK NOTES from Grace Bishop

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:

Rising Sun Center for OpportunityFor over twenty years, Rising Sun Center for Opportunity has worked at the intersection of economic equality and climate resilience. They have served more than 3,000 youth and adults while helping over 52,700 households reduce their carbon footprint. 

YES Nature to NeighborhoodsYES Nature to Neighborhoods was founded on the belief that positive experiences in nature are a catalyst for individual and community transformation. The organization offers numerous programs for people of all ages with a mission to nurture leaders who champion the well-being of their communities.

SOS RICHMONDSOS! Richmond stands for Safe Organized Spaces, bringing together both hands-on help and advocacy to address the challenge of homelessness in Richmond. This grass-roots organization builds connections between the housed and unhoused, provides hygiene and sanitation, reduces the need for first responder interventions, and provides jobs and job training.

California Fire Safe CouncilThe California Fire Safety Council's mission is to be a leader in community wildfire risk reduction and resiliency. The organization serves to facilitate a more efficient way of distributing federal funds on a local level for fire prevention efforts. The organization has provided over 900 grants totaling over $100 million to agencies and organizations throughout California.

On October 21, 2021, former Oakland Police Captain Ersie Joyner, a member of the Red Oak Family, suffered from a near-fatal assault. Through the grace of fast-acting individuals - including Dr. Timothy Browder, a trauma surgeon - Ersie is on the road to recovery. Many wonderful people reached out to donate to ROOF in Ersie's name. On behalf of Dr. Browder, ROOF has sent funds to his chosen charitable organization, Earth Island Institute, a group that provides support to environmental action projects while also endorsing the next generation of environmental leaders in order to solve the crises that threaten life on Earth

LavaMaeXBack in 2019, Red Oak was introduced to an organization that was approaching the challenges of the unhoused (homelessness) on an extremely human level. LavaMaex coined the term "Radical Hospitality®" - a means of providing care in a way that aims to restore dignity, rekindle optimism and fuel a sense of opportunity to individuals living on the streets. Their vision is a world where hygiene is treated as a human right, and they have so far served over 100,000 people bringing them access to sanitation and hygiene services through their mobile showers, hand washing stations, and pop-up care villages. 

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

MARKET UPDATE: OCTOBER 2021


 

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.

FMZ TEAM CROSSCOUNTRY MORTGAGE

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
 



Grace Bishop
Realtor | #01245471
510.872.4512