RealEstate680

The past few week shows all Quartiles of residential real estate in Walnut Creek inching up in price .  Most of the homes on the market are showing good crowds at open houses and Realtors seem to be busy showing homes too.

Another very interesting statistic is that inventory continues to increase, giving buyers more selection.  Sellers may be starting to realize that it’s a good time to sell a home and buy up or buy down.

If you are buying or selling, it may be time to re-enter the Walnut Creek real estate market.  Additional Walnut Creek real estate Statistics available upon request.

These statistics continue to grow.  As of today in Brentwood there are 531 homes for sale, 167 of them are REO, Bank owned or 30%.  In Antioch there are 1187 homes for sale, 447 of them are REO or 37%.  And in Oakley there are 359 homes for sale and 115 of them are Bank owned or 32%.

This is recipe for aggressive buyers to get fantastic deal on homes.

I had the pleasure of meeting Kenneth Session today in his office in Oakland, California.  Kenny has created an incredible portfolio of REO, that’s “real estate owned by banks,” to those outside the real estate business.  His portfolio is in Alameda and Contra Costa Counties.

http://www.reuters.com/article/pressRelease/idUS16943+11-Jan-2008+BW20080111

The link above is an article that includes Kenny Sessions with Mayor Ron Dellums of Oakland, California.  It’s be coming very clear that a hand full of real estate brokers control this part of the market.  Stay tuned for more information about bank owned properties in Contra Costa County.

Walnut Creek and the 680 corridor has its share of SHORT SALES.  A short sales is when a lender accepts a reduced amount on the mortgage to avoid foreclosure.  The real estate community in Contra Costa County is just learning the procedures of short sales.  If you are interested in learning more about short sales in Walnut Creek, Pleasant Hill and the 680 corridor, I can show your the listings; and we can create a game plan that meets the needs of the buyer, seller and lender.

Whether you are buying or selling, it’s very important to deal with a real estate professioanl that knows how the short sale process works and can guide you through.  Sellers have to disclose just like a normal sale and buyers have to do the inspections needed to show the condition of the home.  In many cases this is a great way for a buyer to buy a home at a discount and for a seller to avoid foreclosure and possible bankruptcy.