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Pleasanton Homes

More Inventory!

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Today there are 233 Pleasanton homes for sale!  Eight weeks ago there were 175 homes for sale in Pleasanton.  That is over 50 more, so what does that mean.  In short we have more of a balanced market.  When you have balance you have similar amount of buyers as seller.  When this happens there are good negotiations, and more homes to view.

For the first quarter of 2011 there have been more buyers than sellers, which lead to multiple offers.  On several occasions sellers have received multiple offers for their homes and sometimes got more than they were asking.

In today’s market that is less likely that to have multiple offer because in most price ranges there are several nice, well priced homes.  Buyers tend to shy away when they hear a home has an offer on it.  With the amount of homes that are for sale in Pleasanton now, a buyer can move to next home.

My prediction is things will continue to gradually increase as for as inventory, although that will not equate in a decline in prices.  Buyers may be able to nibble a bit more from a seller’s asking price, but what we have learned over the past several years is that Pleasanton home owners are smart.  As values declined so many sellers took their home of the market to ease the slide in values.  Surrounding areas lost 40-50% in values yet Pleasanton 20-30%.  Pleasanton homeowners can thank themselves for that!

Take advantage of this great market place right!  Interest rates are great, there are a lot of homes out there and lastly values are awesome!

 

 

Thinking of Buying a Short Sale?

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Short sales are a large part of market place for the years to come, and if you are looking to buy real estate you can’t ignore them!  I have met several buyers that think they can just completely avoid all short sale because of all the negative things they heard; well it shrinks your inventory some 30-50% if you do so.

The positives when buying a short sale are you can get a very good price.  The negatives is the time it takes and really the uncertainly that the deal will actually go through.  Below are a few things to be sure of when thinking about buying a short sale.

Interview the listing agent and the seller first!  Make sure the probability that the short sale will go through.  How much is owed? How many payments have the seller missed? Has the notice of default been filed? The most important question to ask is what is the seller’s hardship?  If the seller does not have a hardship and is just a “dissatisfied homeowner” then the odds of the short sale decline.  These are a few of the many questions you should have your agent ask in order to qualify the potential purchase.

Make sure the property will be vacated prior to close of escrow!  Especially be careful if there is a tenant in the property.  I recently wrote an offer on a property that had a tenant and my offer requested the “seller to give the tenant notice to vacate the property once we reach an agreement”.  It also said my contract “time periods will not start until the property is vacant and the short sale has been approved”.  Here is why that tenant can cause all kinds of problems and I do not want my clients to spend any money until I know the property is vacant and possession is not a problem! Can you image if my buyer entered a contract and the short sale was approve, and the buyer gave their notice to vacate the home they were renting, but the tenant elects not to move out?

I don’t think buyer can or should avoid short sales because they are getting much better and quicker!  The important thing is to just prepare everything ahead of time so you do not put yourself in a difficult position.  Yes they are more work but most times it equates to more reward!

Still Not Much Inventory But…

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The inventory levels in Pleasanton are still really low, but a few really nice homes hit the market today!  The total homes for sale in Pleasanton is 159 homes.  A brief description is below about a few of the finest homes that hit the market this week!

4082 Nevis St is a real nice home with a very large and rare yard that is 10,537 sq ft of land.  This home is listed for $570,000. Read all about this great neighborhood here!

509 Junipero St is a nice home in the South part of Pleasanton.  This 4 bedroom 2 bathroom homes has 1919 sq ft of living space.  It is listed for $665k.  Read all about Mission Park here!

1586 Loganberry Way is a classic Pleasanton Valley Heritage model!  This 5 bedroom 2.5 bathroom home in one the finest neighborhoods in Pleasanton.  Read all about Pleasanton Valley here!

5168 Mount Tam Cir is a lovely home on the Westside of Pleasanton! This home has 4 bedrooms and 3 full bathrooms with a 3 car garage.  The total living space is 2717 sq ft and it is listed for $999k.  Learn about this great location here!

6605 Amber Lane is a custom home in South Pleasanton.  This is a hidden gem in the Carriage Garden subdivision.  The home is 4 bedrooms 3.5 bathrooms with 3675 sq ft of living space but the lot is almost a half acre.  The home is listed for $1.348k.  Read about this great subdivision here!

Is There a Market Surge?

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At least five properties have had multiple offers in the past two weeks.  A listing of mine had over 16 realtor showings in three days.  A listing in Pleasanton Valley had an open house with over 45 people through.  Yes I would call this a little surge although if we take a closer look it is not a complete market surge.  All of these properties were under $800,000.  The lack of inventory has caused a situation where there are more buyers than sellers right now.  The inventory has a 2.7 month supply which technically means it is a buyer’s market.

The inside scoop is that buyer’s are not paying over list price.  In fact of the five properties none of them sold for over list price and only 2 of them sold at full price.  So buyers are not in frenzy and have an easy come easy go attitude.  This is nothing like we saw from 2000-2007 where buyer was offering way over list price.  Today’s buyer is very patient and is definitely not over paying for anything.

In a nut shell there is a surge in the market under $800,000, but it is in small doses.   The inventory should increase in the next few months and buyers should have more to choice from.  With amount of buyer out there the new inventory may go quickly.  What we have learned in recent activity is that buyers are going to not over pay and they will be patient.

Pleasanton Market Update

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The week of October 17-24 Pleasanton had more sales then new listings.  Inventory has decreased to a total of 234 homes for sale in Pleasanton.  There were 14 new listings that came on the market this week.  2744 Foothill Rd. is a custom home on the market listed at $1,389,000.  This is a great lot in a good location but probably should be listed at 1.2 million.  This home was built in the mid 1980’s and has not been upgraded.  Benjamin Ct is a beautiful home available in Town Square.  This home is only 2 blocks from Downtown Pleasanton and is listed at $699k.  7370 Hillsdale is great single story home in the Stoneridge neighborhood.  It is priced well at $745k but the entire yard is pool.  Pools can help a home but more often then not they hurt a home!  The best buy of the week is 7717 Cottonwood Ln on the Westside of Pleasanton.  This home is 4 beds 2 baths with 1600 sq ft and listed at $615k.  If you would like to view any of these homes we are always available to show any of them!

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