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Yesterday was an amazing day in terms of people viewing and following the inauguration events and festivities. I know that my Internet access was very slow yesterday do to the volume of people clicking and streaming to follow the day’s events. Here at 94501 Real Estate it is time to get back to looking at how housing in Alameda is holding up and what the future may hold.

Lost in the news yesterday, New Home Builders gathered in Las Vegas to get a handle on direction that segment of the housing market and where it will head in 2009. Frankly, the economist and builders do not hold out much hope for this year.

"We do expect '09 to be the down year, to be the bottom," David Crowe, chief economist for the National Association of Home Builders, said during a news conference at the International Builders' Show

Crowe said he expects the number of new homes constructed to fall by 29 percent this year from last year, but then jump by 34 percent in 2010. He sees new home sales falling 14 percent this year.

For Alameda, new housing is always very limited, but we do have one active project Grand Marina and two in the planning stage (FISC Property and Alameda Point).

Grand Marina is being built by Warmington Homes the same builder for Bayport and with anticipated opening of April 2009 the timing on this project may not be the best.

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