The real estate market in the 680 Corridor has been “abuzz” with a lot of chatter regarding inventory, lots of buyers and multiple offers. I decided to take a look at the inventory of homes for sale at the end of April for 2012 versus 2011 in the areas of: Alamo, Blackhawk, Danville, San Ramon and Walnut Creek. After reviewing these statistics the “buzz” certainly seems warranted. I will continue to monitor the inventory levels through the spring / summer and report the findings back here. As always, if you … [Read more...]
Renting versus Buying via The Wall Street Journal
This is an interesting video courtesy of the Wall Street Journal discussing the economics of buying a home versus renting in today's real estate market. When housing hit the skids, and the economy was thrown into recession, there has not been a lot of building in the residential segments targeting renters. Home ownership has fallen over the last few years and this has pushed millions of former owners into the lease market as well. The economics of supply and demand are in play and rents are rising. The housing … [Read more...]
The Walnut Creek Real Estate Market in February
As we cruise toward the end of the first quarter of 2012 let's look at how the Walnut Creek Real Estate Market did the first two months of the year. Both detached and attached home sales have started the year off stronger than the last. Median home prices are stable to slightly higher and the time it is taking to get the home into escrow has declined. One thing that is certain with this year's market is that inventory is thin and there are a lot of buyers out there shopping. Multiple offer scenarios are not … [Read more...]
The Walnut Creek Real Estate Market in January
Here's a look at how Walnut Creek real estate finished January. In both the single family and attached home segments we see that unit sales are up. Single family home sales have remained consistent in median price as well as the time it takes to get one into escrow. The attached homes market has seen marketing times decline and a higher quantity of sales at the lower end which has been a drag on median price. It is too early in the year to make any snap judgment as the data is small. These reports will become more … [Read more...]
One alternative to writing a contingent offer
No one really wants to have to write a contingent offer and the luxury home market in the San Ramon Valley has certainly not been immune to challenges like those faced in many other regions. One of those is the lack of financing available. The high-end buyer does not typically fit into a neat package. The jumbo mortgage market offerings via Fannie Mae and Freddie Mac are currently capped at 625,000 in most Bay Area markets and while there is a fair amount of true jumbo loans available underwriting is very strict. … [Read more...]
Walnut Creek Real Estate in 2011
So just how did the Walnut Creek Real Estate Market perform in 2011? Well the answers are below. Sales were robust compared to 2010 for both single family homes as well as attached dwellings. Good news considering that there was limited home buyer tax credits available. In addition, the time that it took to get a home into escrow increased slightly but it was still less than sixty days on average which is very good. The downside came in the median home prices. There was downward pressure on both market segments … [Read more...]
Walnut Creek 2011 Real Estate Review thru November
Walnut Creek real estate has been steadily moving forward compared to last year. A rise in the number of home sales has been good news. Median home prices have been under pressure but the marketing time to get a home sold has been less than a month and a half on average. Condos and townhouses have seen a dramatic increase in sales which have risen over fifteen percent. As with many of the surrounding communities median pricing has taken a hit but marketing times are still good. Remember all real estate is local so … [Read more...]
Walnut Creek Real Estate Report 2011 vs 2010 through October
The following chart compares the real estate performance in Walnut Creek for 2011 versus 201o through October. The single family home space has seen a steady number of sales compared to last year. The median home price has fallen a bit over nine percent while the average time it takes to get the home into contract has increased to 47 days from 41. Townhomes and condominiums have performed very similar to the market in San Ramon. We see that the number of sales is increasing while pricing remains under pressure. … [Read more...]
Comparing Walnut Creek Real Estate Sales 2011 vs 2010
Walnut Creek single family home sales have slightly underperformed in 2011 versus 2010. The number of single family homes sold remained flat while median prices dropped a little over 7%. The attached home market mirrors San Ramon very closely with unit sales up but a significant decline in the median home price. The average time to market a home increased a little over a week from last year. Keep in mind that all real estate is local and neighborhoods will and do perform differently. Please contact me if you would … [Read more...]
Short Sale Concentration in Walnut Creek as of 9.22.11
The following chart shows the concentration of short sales versus total sales in "pending" status in Walnut Creek. Keep in mind that short sales are typically a longer process than regular sales and may be represented across several months of data. Questions about Walnut Creek short sales? Give me a call. … [Read more...]
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