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The Tsunami and The Berkeley Area Housing Market

By
Real Estate Agent with Coldwell Banker

How Japan's Disaster Might Affect the Berkeley Area

The events in Japan certainly put our own economic woes in sharp relief

Many Japanese are experiencing crushing grief over the devastating loss of friends and family.  Not just homes, but whole cities, towns, and businesses fell victim to the disaster, and even if someone survived the earthquake and tsunami, surviving the aftermath might be problematic. Our hearts and prayers go out to all that have been affected by this awful tragedy.

Times of tragedy evoke our desire to help one another.

I have included a list below of organizations to contact if you do want to help.  Here in the Berkeley Area, amazingly, life goes on; but we are connected to each other on spaceship Earth, so it’s only natural to worry about how the tragedy in Japan might ultimately affect us.

Those of us in real estate focus on homes and the housing market.

We make sure our own have earthquake bracing.  We start stockpiling supplies like water and canned goods “just in case.” And we watch the stock market do flip flops in response to Japan’s grim economic situation. 

Disasters like this often cause money to flow out of Stocks and into Bonds

When that happens, bonds appreciate and home loans are offered at lower rates—slowing the recent upward trend in mortgage costs.  What does this mean to the housing market?  The answer is something to consider if you or someone you know is in the market for a home. Experts think values will likely continue upward in the second half of this year, pushing home loan rates upward. Right now is the time to capitalize on the combination of low rates and affordable housing if you’re looking to buy a home.

As promised, here is the list The Albany Bulb has provided of reputable organizations (including ways of checking on other agencies you might run across) that I’m passing on to you here that offer aid to Japan.  If you’d like to help, contact any of these organizations.

Major Relief Organizations

other resources

For more information about Berkeley Area events and real estate, keep reading this blog.  If you're interested in buying or selling a home in the Berkeley Area, Call Chris Neddersen at 510-527-0174 or if you're a buyer go to  That House Detective .  If you're a seller go to What's Next Homes.

Here's where you can search for Berkeley area homes for sale , and to get a personalized search of on-the-market properties that meet your specific criteria delivered to your email inbox, go to  REAlert   and get what you want!

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