Alameda Snapshot: Dinning Tradition Ole's Waffle Shop

Was craving breakfast and thought of a evening photo I took of Ole's a few evenings ago. For those who don't know Ole's Waffle Shop is an Alameda Tradition. On the weekends, the line and wait can be long. It is a true American Diner and the staff is always friendly.

Have a great weekend and Happy House Hunting.

Can You Find Money or a Deal

A couple of housing stories, the first is on the stagnant mortgage market and the second takes a look at the increase nationally in December home sales. The mortgage story is the most interesting because even if you want to buy in today's market you may find that it will be very difficult. Donald Trump is interviewed and reminds you its even tough for millionaires. The sales story focus on falling home prices in places like Phoenix and California.  Just a reminder that in Alameda December sales saw no spike.

Sigh and an Ugh: National Housing Numbers

Well . . .(BIG sigh). . .the National Housing picture continues to paint a very bleak outlook. The two best quarterly housing reports came out yesterday, The Standard & Poor's/Case-Shiller housing index and the National Association of Realtors (NAR) report on median home price, and (another BIG sigh and an Ugh) the numbers are just down right scary.

I always wait for the Standard & Poor's/Case-Shiller 20-city housing index each quarter but report revealed that home prices continue the free fall. Home owners saw prices decline by a record 18.2 percent from November 2007. This is the largest decline in home value since the inception of the Case-Shillar report began in 2000. The 10-city index dropped 19.1 percent, tied with October for the biggest drop in its 21-year history.

Of course Alameda has seen it share of decline in the market, but not the type of numbers in the cities that had the biggest housing bubbles. Phoenix, Las Vegas and San Francisco all reported annual price declines of more than 30 percent in November, according to Case-Shiller. If the Island does see this type of decline you will see homeowners in shock and walking the streets asking what happened. An example of the impact of this decline: $600,000 home in 2007 (multiplied by 18% decline) is now $492,000. 

If you use the National Association of Realtors median home numbers it is not much better. NAR reported the national median home price fell a record 15 percent last month to $175,400, down from $207,000 a year ago. In Alameda we saw a 7.6% decline in median home price.

The light at the end of the tunnel, the good news, the thing to hang you hat on is interest rates are low and with a  significant down payment, anyone who buys now will save money in the long term. The trouble in Alameda is most homes fall into the Jumbo Loan category and trying to find financing will be difficult.

Alameda's median price in 2007: $649,500

Alameda's median price 2008: $600,000

Alameda Real Estate Inventory Report

As I thought with the new year would come an increase in inventory. In the last week 12 new properties came on the market, nine single family residences and three condos, with a net increase of 11 properties add to the inventory. Here are few of the new properties:

(no photo)

CONDO/TH priced at $424,000*
2101 Shoreline, #344, Alameda, CA 94501
Bedrooms: 2
Bathrooms: 2
Square Footage: 1,468
Lot Size: 5.7 Acres
Year Built: 1974
Stories: 2

SFR priced at $875,000*
4 Sunny Cove Circle, Alameda, CA 94502
Bedrooms: 3
Bathrooms: 2 1/2
Square Footage: 2,029
Lot Size: n/a
Year Built: 1968
Stories: 2

SFR priced at $825,000*
1532 BENTON, Alameda, CA 94501
Bedrooms: 3
Bathrooms: 2
Square Footage: 1,968
Lot Size: n/a
Year Built: 1910
Stories: 2

SFR priced at $675,000*
1 FLETCHER, Alameda, CA 94501
Bedrooms: 3
Bathrooms: 2 1/2
Square Footage: 1,860
Lot Size: n/a
Year Built: 1988
Stories: 2

SFR priced at $599,000*
1305 MOUND, Alameda, CA 94501
Bedrooms: 3
Bathrooms: 2
Square Footage: 1,249
Lot Size: n/a
Year Built: 1961
Stories: 1

SFR priced at $525,000*
325 SUNSET, Alameda, CA 94501
Bedrooms: 3
Bathrooms: 2
Square Footage: 1,243
Lot Size: n/a
Year Built: 1963
Stories: 1

(no photo)

CONDO/TH priced at $415,000*
1170 9TH ST #36, Alameda, CA 94501
Bedrooms: 1
Bathrooms: 1
Square Footage: 767
Lot Size: 1.5 Acres
Year Built: 1959
Stories: 2

SFR priced at $649,000* (Short Sale)
1805 PARU ST, Alameda, CA 94501
Bedrooms: 3
Bathrooms: 2 1/2
Square Footage: 2,185
Lot Size: 73.6 Acres
Year Built: 2002
Stories: 2

SFR priced at $875,000*
8 ROSS RD, Alameda, CA 94502
Bedrooms: 3
Bathrooms: 2 1/2
Square Footage: 2,029
Lot Size: 4,125 Sq. Ft.
Year Built: 1992
Stories: 2

1104 SANTA CLARA AVE, Alameda, CA 94501
Bedrooms: 2
Bathrooms: 1
Square Footage: 1,399
Lot Size: 4,000 Sq. Ft.
Year Built: 1937
Stories: 1

SFR priced at $695,000* (Short Sale)
390 TUCKER AVENUE, Alameda, CA 94501
Bedrooms: 3
Bathrooms: 2 1/2
Square Footage: 2,035
Lot Size: N/A
Year Built: 2006
Stories: 2

Alameda Inventory Data

Data Pulled January 25, 2007 at 5:30 PM

Total: 162

94501: 129

94502: 33

Single Family: 89

Condo: 40

Foreclosure: 15

Short Sale: 22

Price Reduction: 64

High List: $1,795,000

Low List: $169,900

Alameda Snapshot: Webster Street at Night

Link to Alameda Sun's Essence of Alameda Section, See Open Homes

Have a Great Weekend!

Alameda is Just a Little Different

The SF Gate has run an article the last two day on the home page about how homes sales in the region have soared as prices have dropped. This action is predictable; as people start seeing value and opportunity they will jump into buying. It the marketing world we are teased daily with terms like close-out, liquidation, going-out of business sales and in the home resale market the equivalent is foreclosure.

For those who live in Alameda, or for those looking to buy, the housing market continues to see smaller fluctuations than that of the San Francisco Bay Area Region, the East Bay or Alameda County. I took a look at the overall sales in Alameda and since October 2008 foreclosures accounted for 13% of the sales. For all 2008, foreclosures were just under 7% of all sales.

These are not even close to the numbers reported by the Chronicle:

“Fully half of all existing homes sold in the Bay Area in December were foreclosures unloaded by banks at fire-sale prices. Those sales sent median prices tumbling to new lows and attracted droves of buyers, according to a real estate report released Wednesday.”

The large portion of these buyers is investors looking to build portfolios.

The other reported data point was concerning the drop in Median sale price.

“Every Bay Area county experienced double-digit declines in the median price. The annual drops for existing homes ranged from 11.8 percent in San Francisco to 48.4 percent in Contra Costa County.”

The change in median home sale price in Alameda from December 2007 to December 2008 was about 5%. In month of December the 2007 median sale price was $580,000 and in 2008 it was $560,000.

The numbers in foreclosure heavy areas have depressed the overall number in the region, but it appears for now that Alameda is seeing a decline sales volume and relatively low foreclosure activity.

Grand New Homes

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. Here is a description of the project from the company’s website:

Located near Alameda's Grand Marina at the estuary end of Grand Street, this picturesque waterfront community will offer views of Oakland and Coast Guard Island and is set just minutes from Park Street downtown near shopping and restaurants. Here you will enjoy charming three-level Craftsman and Bungalow-style homes with approximately 2,152 to 2,373 square feet-just steps from the water, a variety of berths, secured gatehouses and a full-service marine center.

The pricing for homes in this project will be similar to Bayport. The builder anticipated pricing - from the high-$700,000s to low-$1 millions. At that price point you need some serious cash flow. A simple calculation ($800,000 home, 20% down, 6% interest) suggest that you will need $212,305 in annual household income that is after plopping down $160,000 for a down payment.

What the Grand Marina project does have going for it is that it is a relatively small project just an estimated 40 homes so the overall economy may not have much impact on a project this size.

Given that the economy has yet to gain any footing and job loss stacking up the economist are very cautious. Frank Nothaft, Freddie Mac's chief economist expects home prices to continue to decline into 2010, but says the housing market should begin to show signs of improvement beginning in the second half of this year as government efforts to stimulate the economy kick in.

Nothaft expects the U.S. recession to be "relatively long, relatively deep." He projects the U.S. unemployment rate will rise to 8.7 percent by the fourth quarter of this year. The rate hit 7.2 percent last month.

"The single most important trigger event leading to (mortgage) delinquency is unemployment," he said.

Not surprisingly, Nothaft's outlook also calls for default rates on mortgages to keep rising this year, particularly on home loans made to prime borrowers.

Alameda other new housing projects at FISC and Alameda Point are to far down the line to know the impact of the current housing market on these projects. New housing is always good to look at even if you like the charm of older homes. These projects impact inventory and the housing stock in Alameda is very low. If more foreclosures come to the market, then even a small project like Grand Marina could have some big issues.

A MSNBC Story related to New Home Builder Sentiment:

Inauguration Day

UPDATE: Obama's oath of office and speech have been added to the post.
Today is Inauguration Day, and instead of talking about Real Estate, I though I would post some of the recorded speeches from past Presidents on  "this day of National Consecration." We should celebrate the peaceful transfer of power and wish the new President well in the challenges he will face.

Oath of Office

Address to the Nation

Visit msnbc.com for Breaking News, World News, and News about the Economy

President Franklin Roosevelt 1933 Inauguration

President Truman 1949 Inauguration

President Kennedy 1961 Inaugural Address

President Reagan 1981 Inaugural Address

New Inventory hits the Alameda Market

Thursday to Friday evening was a busy day for Alameda real estate with six new listings coming on the market. Four of the properties were single family residences and the other two were multi-family. Prices ranged from $479,900 to $800,000, and all of the new listings were in the 94501. On Sunday, a property was added to the inventory in 94502.

A little concerning is nearly half of the seven listed properties from the Thursday to Sunday are distressed. A home, 8 Ferro Court and a duplex, 518 Taylor are foreclosures. Adding to the distressed list is a short sale, this is a converted Victorian home with 4 units at 452 Santa Clara.

Since January 1, eight of 26 properties (30%) to be placed on the market have been distressed properties. 

This is something to watch very closely over the next couple of months. Here are the most recent listings and the weekly inventory report.

MLS# 40390312  SFR priced at $610,000*1530 GRAND ST, Alameda, CA 94501
Bedrooms: 3
Bathrooms: 1
Square Footage: 999
Lot Size: 4,410 Sq. Ft.Year 

Built: 1915

Stories: 1

MLS# 40390480  SFR priced at $739,900*

8 FERRO COURT, Alameda, CA 94502
Bedrooms: 3
Bathrooms: 2
Square Footage: 2,030
Lot Size: 3,600 Sq. Ft.
Year Built: 1995
Stories: 2

MLS# 40390041  SFR priced at $540,000*
309 SAND BEACH, Alameda, CA 94501
Bedrooms: 4
Bathrooms: 2
Square Footage: N/A
Lot Size: 5,000 Sq. Ft.
Year Built: 1965
Stories: 1

MLS# 40390059  SFR priced at $800,000*
2614 SAN JOSE AVE, Alameda, CA 94501
Bedrooms: 4
Bathrooms: 2
Square Footage: 2,529
Lot Size: 4,864 Sq. Ft.
Year Built: 1915
Stories: 3
Open House: January 17, 2009

MLS# 40390078  SFR priced at $600,000*
1350 BROADWAY, Alameda, CA 94501
Bedrooms: 3
Bathrooms: 2
Square Footage: 1,381
Lot Size: 7,000 Sq. Ft.
Year Built: 1890
Stories: 2

MLS# 80902277  MFR priced at $699,900*
452 SANTA CLARA AV, Alameda, CA 94501
Square Footage: 2,836
Lot Size: 7,810 Sq. Ft.
Age: 109 years

MLS# 40389963  MFR priced at $479,900*
518 TAYLOR AVE, Alameda, CA 94501
Square Footage: N/A
Lot Size: 6,000 Sq. Ft.
Year Built: 1895

Alameda Inventory Data

Data Pulled January 18, 2007 at 12:00 PM

Total: 153

94501: 121

94502: 32

Single Family: 82

Condo: 39

Foreclosure: 15

Short Sale: 20

Price Reduction: 61

High List: $1,795,000

Low List: $179,900

Alameda Snapshot USS Hornet

This week's Alameda Snapshot is of the USS Hornet I took it right before sunset. Have a great weekend.

Looking at the Alameda Condo Market

Yesterday, I took a look at the Alameda Multi-Family of Investment property market and I thought it would be fitting to look at the Condominium and Townhome inventory.

This market has a wide range of properties from a $179,900 one bedroom, one bath foreclosure at the Park Webster Complex to a $1,395,000 three bedroom, two-half bathroom Ballena Bay townhome that sits on the bay with deep-water boat dock. This gives buyer a wide range to choose from in today’s market.

The typical condominium in today’s Alameda market (based on median numbers) is a 1,132 square-foot home with two bedrooms, two bathrooms that has a list price of $404,000. This is very similar to the fourth quarter sales in this market where the median of the 30 sales was 1,321 square-foot homes with two bedrooms, two bathrooms and a sale price of $429,500.

So I thought I would take a look at three properties: The Big, The Small and The Deal.

The Big is 1227 Ballena, this is the property I mentioned in the opening. It is 2,117 Square-feet of water-front living, but has a big price tag; the per-square foot price is $659. This is townhome so it doe not have an apartment feel. Pictures of the property reveal a bright and modern kitchen, a deck over loving the water, and a well maintained home.

The Small is 1170 9^th Street #13, this is a 577 square-foot one bedroom, one bathroom at the end of Ninth Street next to the old Bay Wall. The price per square-foot is $518. The complex has an apartment feel, but is in a neighborhood of homes. The complex has a pool and is close to Washington Park, the Dog Park and Webster Street.

The Deal is 1305 Webster St. #C203, based on a square-foot price of $257 only, not need or taste. This is a foreclosure listed for $179,900 at the Park Webster. It is a one bedroom, one bathroom first floor corner unit. The complex has a Pool, sauna, exercise room and community room. Close to shopping, beach, transportation.

Have a great Day!

Time to Invest in Alameda Property?

So I was thinking is it time to invest in Alameda rental property because the last eight years it has been almost impossible to be cash flow positive buying investment property in the 94501/02.

A quick look at the Mason Management, Harbor Bay Realty Rentals and Gallagher and Lindsey Rentals websites showed that rents in Alameda range:

A one bedroom one bath rents from $800 to $1,200

A two bedroom one bath rents from $1,200 to $1,800

A quick search of Multi-Family properties and found 31 of them for sale. I was surprised to find 1514 Minturn listed for $380,000 for a duplex. $380,000! There are a lot of homes in this market that are NOT under $400,000. The Realtor for this property does not included the layout of the two units, but it is a Victorian that has a converted second unit so I am guessing that the two units are a three bedroom, one bath and a one bedroom, one bath. Another local blog Knife Catchers wrote this property back in October of 2008: 1514 Minturn Knife Catcher’s post.

The property sold for $720,000 in September of 2005 so this is a 52% reduction in that sale. Minturn is a foreclosure, and with the following assumptions the property could be cash flow positive pretty fast.

Purchase price: $380,000

20% Down Payment: $76,000

Interest Rate: 6%

Monthly Payment: $1,822

Other Expenses: 30% or $546

Total Expenses: $2,368

So if you can rent top unit, the estimated three bedroom for $1,600 (middle range for two bedrooms rental listings) and if the second unit is a one bedroom and it garners $800 then the revenue is $2,400 per month. This makes the property cash flow but is positive by a small margin. Lots of assumptions but it is worth a further look and working the numbers further.

There are two more duplexes, 613 Haight and 538 Palace Court, that are for sale under $500,000. Haight is a real fixer and I am guessing because the Realtor did not breakout the units, so one unit is 2-bed, 1.5-bath and the other unit is 1-bed, 1-bath. This property would take a lot of money to get it up running. Palace is has a lower unit that is 2-bed, 1-bath and the upper unit is 1-bed, 1-bath. Both of these properties would be tough to get cash flow right away.

At the higher end of investment property is $748,000 Colonial Revival four-plex at 2153 Clinton. According to Mason Management that has the listing, this is a well maintained property with its rental income potential of $54,000.00. That income verses the annual mortgage of $43,000 plus (30%) $16,000 in expenses makes the annual cost $59,000. So on the back of the envelop it will take a while to get positive, but not horrible if you can manage costs.

The most expensive investment property is 1179 Park Ave at $1,575,000. This 8-unit apartment complex close to Park Street is a big box complex with parking under the units. I will let you pencil it out if this is in your investment range.

To answer my own question: Investing in Alameda is becoming attractive again but as in anything in life you really need to understand the hidden costs (vacancy, eviction, maintenance), and the time you are willing to invest to understand income property. If prices decline much more in the coming year then it will be a good time to start building or adding to your portfolio mix. 

Be Back Tomorrow

Sorry no post today, 94501 Real Estate will be back tomorrow

Alameda Real Estate Inventory Report

It's Monday and terriffic weather outside, so just the Alameda Real Estate inventory report for today. The island continues to see a decline in the number of properties for sale inventory fell dropping 20% since November 15, 2008. This is expected in the Winter months, but 147 units is a very small number.

Have a great day and enjoy the weather.

Alameda Inventory Data

Data Pulled January 11, 2009; at 9:00 AM

Total 147

94501 115

94502 32

Single Family 79

Condo 39

Multi-Family 29

Foreclosure 16

Short Sale 18

Price Reductions 50

High List $1,795,000

Low List $179,900

Alameda Snapshot: Alameda Point Runway Light

I took this photo of a runway light out at Alameda Point a while back, but with all the talk and the release of the Alameda Point Master Plan I thought it was appropriate for this week. I should title the photo "Searching for safety at Alameda Point"

Have a good Friday and terrific weekend

The Point Is . . . Alameda Neighborhoods

I walked over to City Hall last night's to attend the City of Alameda ARRA meeting which had a presentation from SunCal on the master plan for Alameda Point. In fact, I tried to Twitter the events http://twitter.com/johnoldham as I watched them unfold but I still a little handheld challenged.

The chamber was full of interested people and was good to see the interest in the presentation.

Here are the highlights as I saw them:

Development Services Staff opened the presentation addressing some of the recent community issues being raised by other bloggers and member of the community regarding the tax increment and public land trust. What I learned in more detail is that a land trust is not feasible (not even close) and most in the audience do not understand the tax increment bond financing.

The SunCal presentation was very vanilla. Their power point and presentation was a basic review of the Master Plan document. You can get more from reading the document than what was presented. SunCal started with all the feel good stuff, sports complex, new library and new fire house.

The SunCal theme was a plan that can get built.

The two items that I did miss in the Master Plan document were the relocation of Alameda Point Collaborative and the relocation of the Flight Tower. I was not clear where they planned on moving the Collaborative.

Peter Calthorpe, from the planning design company, reviewed the housing stock, street design, and infrastructure (water, sewer, electrical). For 94501 Real Estate this was the part of most interest.

Calthorpe made the point that Alameda Point, in this plan, would reflect Alameda as a whole. He is correct that all of the elements in the plan high, medium and low density are somewhere on the Island and the plan. Overall the plan showed a true change for the West End. For the most part I think that it is a good comprehensive look at the 560 acres that need to be developed.

The one item I forgot to jot down was a density number that Calthorpe presented to show that the overall density of the project would be no different that the rest of Alameda. If someone wrote that number down I would appreciate you pass it along.

I still have questions:

Can our city infrastructure support 4,500 new homes?

What happens if the voters do not give the Alameda Point Plan a Measure A pass? What's Plan B?

How long will the entire project take to complete?

I watch a bit of the public comment, but frankly it was hard to sit through. There was small group that were against SunCal and the project and had made up their minds before the presentation started. I watched about 12 speakers and that was enough. It was good to see former City Council Member Tony Daysog make the first public comment. He spoke about transit and my personal favorite topic a light rail that runs from the Point to Fruitvale BART down Railroad Ave (aka Lincoln).

That's all for today, there will be a lot more on this topic in the coming months. You can bet on that.

 

Alameda Real Estate Sees Small Decline in 2008; Nation Sees Big Drop

Yesterday was a real bad for real estate reports. First the National Association of Realtors (NAR) released Pending Home sales and they announced a record low, then later in the day a survey from the Corcoran Group, a New York brokerage firm, reported their little island Manhattan saw real estate sales plunged more than 40% in the fourth quarter to 2,500 units. The Manhattanites are used to over 6,000 sales in the last three months of the year.

So we look 2,907 miles to the west to our little island and see our sales are roughly flat. In the fourth quarter of 2007 we had 118 sales compared to 2008 with 105 closed transactions. This is an 11% change, but in the scope of total sales it is a small change. I wish I had the 2006 and 2005 data, I am sure it would be way down, to compare the sales totals.

Back to the NAR report: According to the National Association of Realtors, the Pending Home Sales Index fell to 82.3 for the month of November, to its lowest level since the series began in 2001, That's a drop from a downwardly revised reading of 85.7 in the month of October. The November index is 5.3% below the same month a year ago, when the Index stood at 86.9.

Lawrence Yun, NAR chief economist, said a weakening was inevitable. “Mounting job losses and very weak consumer confidence deterred home buyers from signing contracts in November,” he said. “December’s housing market activity could be comparably lower due to ongoing problems in the economy, so a real estate-focused stimulus plan is urgently needed.”

This is very bad news and it will only get worse in December. Here in Alameda you can see that Real Estate inventory continues to decline and sales have drop. The Island recorded 451 sales in 2007, down 103 units from the prior year. It is hard to believe that it will continue to fall much lower. This is the number that we real need to focus in on. Sales impact local jobs (realtors, mortagage brokers), transfer tax, property tax and several other areas that if we do see the resale market rebound it can be a very tough year for the community as a whole.

To try and get housing to rebound, NAR is continuing to push for a housing bailout.

“There can’t be an economic recovery without a focus on housing. “It’s crucial for Congress and the new administration to move quickly to remove impediments and offer home buyers the incentives they need to tap into today’s historic low mortgage interest rates,” said NAR President Charles McMillan, a broker in Dallas-Fort Worth."

For the Island, our insulated world, we will continue to see pressure from the outside. As homes decline in other areas the become more affordable this creates pressure to push price down in Alameda. So many variables are connected to rebounding housing market (financial credit market, jobs, inventory, bank owned properties, ect.) that it is hard to see the light at the end of this train tunnel.

Visit msnbc.com for Breaking News, World News, and News about the Economy

Results of 94501 Real Estate Survey

Today we look at the results of the 94501 Real Estate Survey and how Alameda feels about the status of owning a home on the Island. Just a note, this is not a scientific in anyway, the number responses (23) make the survey just an interesting to look at and not even close to being statistically relevant.

Most on the people surveyed feel that the market will continue to decline, although they believe the decline will be relatively small between 1-5%. Combine that group with those who think the market will be flat and 73% of those survey have a conservative view of 2009.

Most people, 65%, see a house as part of their investment mix but more than 20% do not see it as a wealth investment.

The survey group thinks that the housing price decline in Alameda will last until the end of 2009, but the overwhelming number of people still see that Alameda is a good buy.

Home that you find this of interest.

 

1. What direction do you think Alameda home values will go in 2009?	Response Percent
Way up 10% or more	4.30%
Up a Little 1-5%	8.70%
Flat	26.10%
Down a Little 1-5%	47.80%
Way Down 10% or more	13.00%
2. Do you see real estate as your best shot at wealth?	Response Percent
It is my only way	4.30%
It is part of an investment mix	65.20%
Don't Know	8.70%
Real Estate is not a wealth investment	21.70%
Life long renter	0%
3. How long will price in Alameda continue to decline?	Response Percent
We hit bottom	8.70%
1-3 months	13%
6-12 months	60.90%
2010	8.70%
2011	8.70%
4. Do you think buying in Alameda is a good value?	Response Percent
Yes	81.80%
No	18.20%