Inventory of homes for sale remains very low this spring. Some homes are selling quickly with multiple offers over the asking price. However, most homes are taking longer to sell and are requiring at least one price reduction. The average days on the market are 33. Short sales and bank owned properties still comprise about 50% of the market place.
Saturday, April 17 we are participating in our office’s fourth annual shredding day. It will be held in our office parking lot from 9:00am-1:00pm at 6111 Johnson Court in Pleasanton. It is a great time to get rid of some of the old tax documents you have been storing in your garage. No appointment is necessary.
I saw this article on- line this morning. It describes what we are seeing in the Dublin Ranch market. The foreclosure at 5661 Signal Hill had 6 offers over the weekend and sold for more than the asking price of $995,400. Although the back yard needed some work, the home was in good condition and had lots of upgrades.
Currently there are 4 other foreclosures on the market in Dublin Ranch. They all need some amount of work so the asking prices are higher than what the buyers are willing to pay. Beverly
“RISMEDIA, April 7, 2011—The economy is improving overall and, as a result, some bright spots are showing up in the real-estate market. This “second wave” of foreclosures – combined with the fact that many people’s 401(k)s have bounced back with the stock market, and leads most economists to agree that the bottom of the recession has hit – means that competition for these foreclosed homes is, in many cases, fierce. There’s a renewed, final dash to get in on what some perceive as the best real-estate deals they’ll get in awhile. But how do you know which foreclosure is a good buy.”