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The Gamache Team Real Estate Market Update

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As we are halfway into Q2, The Gamache Team is diligently following the real estate market to provide you with a timely and informative real estate market update.

Since the Feds raised interest rates earlier this month, we have seen a shift in the price point of some homebuyers. The increase in rates bumped some homeowners into a lesser price point in an already low inventory market. 

The half-point interest rate hike, the volatility in the market, inflation, and the events overseas are causing some homebuyers to hold off purchasing a home.

Some sellers are seeing their homes stay on the market a bit longer than expected, causing some to lower their prices, a first we haven’t seen in three years.

Other sellers who expected multiple offers, all cash offers, and offers over asking price are experiencing less of the craze that filled the real estate market years prior.

Assessing the State of the Real Estate Market 

Despite rising interest rates and a slower turn around time for a house to sell, the state of the real estate market is still strong.

In a normal, pre-health crisis market, homes this time of year often sit longer on the market. Graduation, vacations, end-of-school activities and move outs for college-age students stall the real estate market progress of some buyers and sellers.

Likewise, we need to remember that the last three years are unusual. The real estate market in prior years experienced price adjustments, contingent offers, longer sales times, and higher interest rates.

Advice for Buyers and Sellers in a Changing Market

The best advice for anyone looking to buy and sell in a changing market is to talk with an experienced real estate professional and preferably someone who has experience in a changing market.

You have only one chance to make a first impression. Every detail of the preparation, staging, marketing, advertising, and pricing of your home needs to be considered to get a solid and acceptable offer. Making a mistake on the pricing of look and feel of a home can turn a buyer away and leave money on the table. 

Sellers need the advice of an experienced Realtor who knows the value of a home, how to negotiate in your favor, and keep you emotions in check by providing solid financial guidance.

Contact The Gamache Team for Your Buying and Selling Needs

The Gamache Team has been representing buyers and sellers in the Tri-Valley since the 1970’s. We are a family-owned and operated business that has been helping clients and their families and friends purchase and sell homes.

Our reputation is one of honesty, transparency, communication, ethics, and getting you the right deal at the right price at the right time.

We would be honored to be your trusted Realtors for the sale or purchase of your Tri-Valley home. 

 

Sold! South Livermore Home Sells for $273,000 Above Asking Price

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The Gamache Team has sold another south Livermore home, and the sales price is $273,000 above the asking price. Originally listed for $1,054,000, 5229 Bianca Way, Livermore sold for $1,327,000. 

5229 Bianca Way, South Livermore

5229 Bianca Way is a beautifully updated south Livermore home featuring a salt water pool, waterfall and spa, room for RV parking or a boat, gazebo, patio sitting area and grass for play.

The huge corner lot added an extra bonus to the numerous buyers hoping to make 5229 Bianca Way their home. 

Experienced professionals who are experts in the south Livermore market, The Gamache Team knows how to prepare, market, advertise, and price a home to sell quickly and at the highest dollar amount possible. 

South Livermore is a Popular City For Home Buyers

With its popular downtown lined with quaint shops and restaurants, family community, schools, parks, recreation, wineries, golf courses, and location to work or play, south Livermore is growing in popularity among home buyers. 

South Livermore Median Sales Price Increase by 32%

In the past 30 days, we have seen a 32.3% price increase in south Livermore homes. The median price in January showed an increase of 10%, showing that spring really is the perfect time to list your south Livermore home. 

Consider The Gamache Team for Your South Livermore Home Sales

If you are considering selling your home, want an honest valuation of the market, or are simply curious about what choices you have in this seller’s market, The Gamache Team would appreciate being considered as your professional real estate consultant.

We have our pulse on the market and have had tremendous success selling homes, especially in south Livermore.

We can be reached by phone at (925) 918-0332 or email Dan@gamacheteam.com. 

 

Pending Times Two! The Gamache Team Sells Two More Homes Within Days of Going on the Market

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If real estate had play buttons, The Gamache Team would be stuck on Fast Forward. The real estate market is a mad frenzy of activity, with homes moving from For Sale to Pending in days!

Just over the last few weeks, two of our sellers went pending days after being put on the multiple listing service (MLS). This type of activity and speed is not unlike other Tri-Valley home sales.

No Signs of a Winter Slowdown in the Tri-Valley Real Estate Market

As we’ve mentioned in our previous blog, The Pace of Tri-Valley Home Sales Hits Record High With no Signs of a Slowdown, the real estate market continues to sell homes at warp speed.

Historically low interest rates, the ability to work remotely, remote learning, and changes in buyer wants and needs have set off a buying and selling spree that is not limited to just the Tri-Valley.

While no one has a crystal ball, real estate experts predict the real estate momentum to continue through 2021 (source).

Tri-Valley Market Statistics through October 2020

Curious about market statistics for the Tri-Valley? Take a look at the data compiled by the Bay East Association of Realtors® for Pleasanton, Livermore, and Dublin’s detached home sales.

Considering a Move in the Tri-Valley? Contact The Gamache Team

With years of real estate experience under our belt, The Gamache Team has been helping Tri-Valley buyers and sellers for decades. Now more than ever, the home is more than just a home; it’s a place to work, learn, grow, gather, and play.

Today’s home represents a way of life. With these changing times, residents are realizing their needs may not be met in their current home situations, so they are turning to The Gamache Team to find them a home that better fits their needs.

If you are in the market to buy or sell a home, contact The Gamache Team.

 

 

Checking in with You as We Shelter in Place

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The Gamache Team is wishing all the best to you and your families during this unprecedented time.

Our family, like yours, has been impacted as we shelter in place, trying to balance our kids, our business, and our families.

We are definitely using this time to focus on what matters most and to bring back the essentials of what really matters.

Support our Small Business Community

The Gamaches have deep ties to the community, and we wish the best for all of our local small businesses during these challenging times.

In an effort to support our neighbors, we encourage you to check out the list of Tri-Valley businesses who offer delivery, in store pick up, or curbside pick-up. For businesses that are not able to operate under these current conditions, we encourage you to support them by purchasing a gift certificate.

Here is a link to view the list of business and restaurants who are participating in this effort.

With each passing day, business models change, so we encourage you to call to verify the store hours and offerings.

How is COVID-19 Impacting the Real Estate Market

There’s no denying COVID-19 has caused many sellers to pull their homes off the market. However, in reality, life must go on, and both buyers and sellers need to move.

Prior to the shelter in place and new guidelines imposed on real estate, March showed strong market statistics.

The Gamache Team represented the sellers of 3227 Runnymeade Ct. in Pleasanton.  This 5 bedroom, 3 bath, 2,471 square foot home was listed for $1,248,000 and sold for $1,305,000 on March 30, 2020.

Under current guidelines, which are in flux, real estate is an essential business, and we are still helping our buyers and sellers with their real estate needs.

Currently Listed For Sale

We have a stunning remodeled condo in South Livermore for sale. 1001 Murrieta Blvd. features 1 bedroom, 1 bath, and approximately 669 square feet of living space.

Priced at an affordable $355,00, this attractive condo offers new cabinets and flooring, stainless steel appliances, remodeled bathroom, spacious master suite, storage, fully-fenced patio, community pool, and easy access to freeways and award-winning schools.

Contact The Gamache Team for the Latest Real Estate Market Updates

For all the current real estate market details and guidelines, it’s best to contact us for all the information.

We are not Alone

Rest assured we are in this together, and we will get through, stronger, better, and with more of an emphasis on relationships and what is important in life. Take care of yourselves and your families.

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