Bill Fletcher
RealtorŪ
bill@billfletcherhomes.com
www.billfletcherhomes.com
DRE #01724665


It's hard to believe that summer is winding down already. In a few short weeks schools will be back in session and home buyers and sellers will be back from vacation. Right now iinventory is low but there are bargains to be had. Let me know if you need any help. This is my job and I love what I do
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Real Estate Update

BACK TO SCHOOL (RATINGS)
August and September are months when many of us shift our attention from summer vacation to school. There is plenty of information out there about schools and districts, but where should you find that information? And really, what does it all mean?

First, know your district. Location within the boundaries of a particular school district does not guarantee admission. It's not just where you live, but when you moved in. When you applied can be a determining factor in whether your child can start attending that school immediately. Call or visit the district office to determine exact eligibility requirements and start your search here:
Find the ratings. There are plenty of ways to rank schools according to numeric values. The California Department of Education is a good start, while Ed-Data is easier to use and less technical. In addition, there are standard measures used across the country:
But numbers aren't everything. Schools are ranked primarily on test scores which have a difficult time measuring such qualities as creativity, student initiative, critical thinking, ethics, or social/emotional development all of which are important to a complete education. Numeric ratings are helpful for quick comparisons, but they can leave us hungry for something that provides a taste of real experience. You can get a lot of concrete information by checking GreatSchools. It has a rating system, but also includes reviews and comments by students, parents, and teachers. You can even find reviews on Yelp!

How you can help, even if you don't have kids. School performance affects property values for the simple reason that a good school creates more demand for properties in the area. More demand creates competition, reduces inventory, and raises prices, so buying and living in an area with good schools affects everyone. That's why taking an interest in local schools does much more than support property values. It makes a difference in a child's life and the future of our communities. Involvement can run the gamut from serving on the school board, to volunteering at the school, to simply getting your car washed or having a plate of pancakes at a school fundraiser.

Monthly Market Snapshot



As the debt ceiling became a growing concern throughout July, the market slowed down more than usual. As a result, sales dropped 16% across the East Bay. However, there was strong demand in the upper end of the market, driving prices up in cities like Piedmont and Berkeley. Buyers continued to drive hard deals, as properties sold further below original asking price at -5.5% and days on market increased 20% to 37. For a custom report on your house, please reply to this email.

Mortgage Rates

Interest rates have dropped back down to historically low levels. The recent rally in the mortgage market has come almost entirely by way of a "flight-to-quality" buying spree created by weak economic data and a short-selling ban on financial shares by France, Italy, Spain, and Belgium.

Many European investors are of the opinion that "where there is smoke, there is fire." Why would you put a ban on short sales of the stocks of banks and other major money-center institutions if there was nothing wrong?

The good news is that the flow of capital out of Europe into the relative safe-haven of dollar denominated assets like Treasuries and mortgage-backed securities has resulted in a big drop in rates. The bad news is that this "flight-to-quality" support can be withdrawn as quickly as it appears. As a result we expect more - not less - price volatility in the mortgage market in the coming weeks.

Positive economic data will temper fears that the world's largest economy might be slipping back into recession, driving money from bonds back to stocks and sending rates higher. More negative data will have the reverse effect. Many experts believe that there is a good chance that the recent rally in the mortgage market is based more on short-term illusion than long-term substance, signaling that now is the time to lock in an interest rate on your purchase or refinance transaction.

For any mortgage related questions, please contact Faramarz Moeen-Ziai at Bank of Commerce Mortgage - 925-627-2563 / fmz@bankofcommercemortgage com.

Saving Our East Bay Schools

Due to deep budget cuts, education-focused non-profits have become even more vital to California's public schools. Did you know the Berkeley Public Education Foundation is the city's single largest source of outside funding to reach teachers and programs in every Berkeley public school? How about the Future Leaders Institute, a program that utilizes a project-based curriculum to help develop East Bay high school kids to become well, future leaders? Or maybe you've heard of the Marcus Foster Education Fund which is in its fourth decade of improving opportunities in the Oakland public school system? The theme here is that while public schools in the East Bay may face some of their toughest years financially, there are people and organizations in this community that have stepped up to fill in some of the gaps.

To date, the agents and staff of Red Oak Realty have contributed over $800,000 to local non-profits supporting education and other community needs through the Red Oak Opportunity Foundation. For a list of past recipients or to make a donation yourself, visit www.redoak-roof.org.


RESTAURANT REVIEW:
HAWKER FARE

Chef James Syhabout made serious culinary waves in Oakland with Commis, his Michelin-starred restaurant. In June he opened his long-anticipated Hawker Fare in Oakland's Uptown. Located in the former location of his mother's Thai restaurant, this casual eatery offers innovative dishes that pay homage to classics. Try his large, flavorful offerings like 24hr pork belly with five spice and preserved vegetable mustard, or lemongrass chicken "gai yang" with turmeric, coriander, macerated chiles, lime, garlic and fish sauce. The food may be rich but leave room for dessert, which includes condensed milk soft serve (a sweeter version of traditional ice cream) or a sundae with salted palm sugar caramel, candied red beans, puffed rice and lime whip. Overall it's a great culinary adventure. Hawker Fare - 2300 Webster at 23rd Street.

1891 SOLANO AVENUE, BERKELEY CA 94707  ·  www.redoakrealty.com  ·  2099 PLEASANT VALLEY AVENUE, OAKLAND CA 94611
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