oakland real estate: Is it a seller's market in Oakland? And look....more short sales are closing escrow!
- 07/17/10 05:50 PM
Yes, we know that the home buyer tax credit made an impact on the market. How discernible is this impact in the Oakland CA market the last two years? Or are the low prices and low interest the real catalyst to the sales? TYPES OF SALES June 2008-May 2009 Total Sales 2894 160 short sales or 5.5% of total 1809 bank-owned or 62.5% of total (62.5% !!!) June 2009-May 2010 Total Sales 2977 335 short sales or 11.3% of total. WOW..they're actually closing them! This is very encouraging. 1383 bank-owned or 46.5%, a significant decline from a year ago.
DETACHED … (12 comments)
oakland real estate: Did the home buyer tax credit boost sales in Oakland CA?
- 04/01/10 05:45 AM
Did or does the home buyer tax credit help the real estate market in Oakland CA? The following charts seem to indicate that they did Median for Sale vs Median Sold. The downward trend shows a slight rise in the final months of the home buyer tax credit as home buyers scramble to meet the deadline and also to capitalize on lower prices and lower interest rates.
Median Sold Price by Quarter - After the plunging median price in the 2008-2009, there is a slight uptick in the 4th quarter of 20009.
Number of Under Contract Properties by … (0 comments)
oakland real estate: Less than two months inventory signals sellers market in Oakland CA
- 10/27/09 07:46 PM
Market observers think that the bottom of the market was three months ago. In Oakland CA, this may be the case. GET THE PICTURE! Months supply of inventory Some seasoned real estate professionals and observers say that when the months inventory is less than six (6) months, it is a seller's market. In Oakland, that inventory is less than two months, and is the lowest it's been in two years. Are we there yet?
Median sold price Astute investors always advise "Buy low, sell high." In Oakland, for data on detached single family homes, the median price saw a … (2 comments)
oakland real estate: Multiple offers in Oakland CA .... AGAIN?
- 10/02/09 05:21 PM
OAKLAND A picture certainly paints a thousand words. These charts show the trends for detached single family homes over a two year period from September 2007 to end of September 2009. Perhaps this illustrates why buyers are finding themselves in multiple offer situations on attractively priced properties that seem to sell in less than a week! The trend for inventory of detached single family homes for sale is startling . The high level of nearly 16 months inventory in December of 2008 steadily declined to its lowest point of 1.5 months in September 2009 in a 2-year period Number of … (4 comments)
oakland real estate: Oakland CA real estate ---- vigorous market activity
- 09/10/09 07:00 PM
Seems to me that when inventories are low, it signifies a seller's market. Is this signaling that the tides have changed? Checking the various cities in the East Bay of California, a trend is emerging. Inventories are low. Number of properties in contract is on the rise. Number of sales also on the rise. This is what the Oakland CA market looks like. These charts pertain to sales of detached single family homes between August 2007 and August 2009, and shows the movement among detached single family homes. There is no need for verbosity here. This is a case of "A … (5 comments)
oakland real estate: SCREECHING halt to getting loan approved. What to look out for.
- 12/20/08 05:21 AM
What situations have you run into where your clients' sales were jeopardized due to underwriters' requirements? In recent weeks/months, when writing an offer on REOs, it has become apparent that underwriters wield tremendous power over what conditions will put a screeching halt to the loan process. Allow me to share real examples where the underwriter stopped the loan until certain conditions were met REO Fixers in Oakland Hole in one wall Broken window glass panes (one shows signs of a BB gun impact) Missing steps on a back door stairs Dilapidated garage Rotted back door No stair railings leading to basement Carpet was … (9 comments)
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