The current $729,750 conforming loan limit is scheduled to expire on September 30, 2011 and will revert back to $625,500. The conforming loan limit determines the maximum size loan that a government sponsored enterprises can purchase. This includes FHA, Freddie Mac and Fannie Mae. Any loan above the conforming loan limit is a jumbo loan and will have a higher interest rate, cost and ultimately higher mortgage payments. Bank of America has already adjusted their pricing in anticipation of the change. This could have a negative impact on our very fragile housing market in Dublin Ranch. There has been some discussion about extending it for another year.
Single Family Homes in East Dublin built since 1998
17 homes sold in an average of 31 days on the market. 53% were distressed properties- 7 short sales and 3 bank owned. Currently there are 17 active listings and only 12% are distressed properties- 2 short sales and no bank owned. There are 34 pending sales 68% are distressed properties- 21 short sales and 2 bank owned.
The inventory in Dublin Ranch continues to be unusually low for this time of the year. There are lots of buyers looking for homes right now and the interest rate for a 30 year fixed rate mortgage remains below 5%
Dublin Named All American City
Dublin was the only city in California to receive the All American City designation, one of only 10 in the nation. It was recognized for its environmental program and sustainability efforts, affordable housing, Heritage Park and the School of Imagination- a preschool for developmentally disabled kids.
Wednesday, June 29 at 7:00am, Sprouts opened their doors in Dublin at the old Circuit City location on Amador Plaza Rd. They are best known for their fresh produce and their bulk bins of dry goods. The first 2000 people who visited the store received Sprouts shopping bags. They also gave away 500 sandwich cards.