RealEstate680

Housing supply is defined by how many months would it take to sell all the existing inventory if no additional homes came on the market.

For example, in Walnut Creek we have 328 homes on the Multiple Listing Service as of today.  According to TRENDGRAPHIX, as real estate data company, this would take approximately 4.6 month to sell.

Here’s the interesting news.  TRENDGRAPHIX show that the worst month we had in Walnut Creek with housing supply was September 2007.  Real Estate in Walnut Creek had 8.6 month of inventory. We have absorbed about 50% of our supply in nine months.  There is a very good argument for the Walnut Creek housing market to be in balance.

Of course different price ranges have different statistics, I find this very interesting and hope that families that want to buy in Walnut Creek begin the process.  Sellers should also look at these statistics, as it’s a good time to look at specific data to see if there is a shortage of inventory in their neighborhood and price range.

My neighbor is selling her update Eichler.  It’s approximately 2200 square feet counting  a tremendous atrium, 4 bedrooms and 2 baths, ceramic tile floors and the radiant heat. 

It’s located in the Rancho San Miguel neighborhood, close to shopping, Heather Farm and all Walnut Creek has to offer. 

If you’re looking for a mid-century modern home in Walnut Creek, call or email me for a showing.

These days, public transportation in Contra Costa County is worth taking a look at.  Last week we took AMTRAK from Seattle to Martinez, California.  It was a great trip, AMTRAKemployees go out of their way to make you feel comfortable and the sightseeing was incredible.

The Coast Starlight runs through Puget Sound to Portland and then into the Cascade mountain in Oregon.  Breath taking views of snow covered mountains and pristine lakes.

Here’s my point.  AMTRAK does not stop in Walnut Creek, but the bus to AMTRAK does.  Take the 116 from Walnut Creek BART to Amtrak in Martinez.  It costs $2.oo per person and only take about 40 minutes.

Gas prices in Walnut Creek are increasing faster than a speeding Prius.  Alternative ways to get around are becoming a necessity.  Take the AMTRAK or the bus, it’s great for people watching too.

My colleague at Alain Pinel Realtors, Peggy Cortez has a tremendous offering at the end of North Gate Road. 

It’s only a few steps to the entry to Mt. Diablo State Park.  4000 square feet on a level three quarters of an acre of land.  Built in 2007, brand new and ready for a family that want to be near nature, but only minutes from downtown Walnut Creek.  The floor plan has 4 good size bedrooms and 3 and a half baths.

 Appointments include hardwood floors, granite, marble, stainless appliances and a spectacular view of Mt. Diablo.  Priced at $1,898,000, and ready to move in.

 This price range in Walnut Creek continues to improve, as inventory is stable.  If you want to see this home or any other homes in Contra Costa, drop me an email or give me a call.

Homes in Walnut Creek and the 680 corridor have been excluded from Federal and State grants for years.  The purchase price and loan amounts were always too high.  The federal stimulus package continues to assist people who have the income to support the monthly mortgage payments to live in Walnut Creek and central Contra Costa County.  And here’s how.

The Nehemiah Program has been around for decades it has helped over a quarter of a million Americans purchase homes. Unlike some down payment assistance programs, Nehemiah offers down payment help to anyone who qualifies for an approved FHA loan. There are no limits on income or assets, but buyers must have an FHA loan or be pre-approved for an FHA mortgage. 

Nehemiah will allow up to 6% of the final contract sales price for down payment and/or closing costs.  It’s available for first-time and repeat homebuyers.  You can use it  for new construction and resale homes, with no geographical restrictions.

 This means a FHA loan up to a $750,000 loan amount with a supporting Nehemiah grant to cover the down payment. I’m sure certain restrictions are attache to this product, but if you want to buy a Walnut Creek home with nothing down, this may be one fo the ways to do it.

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.

Simple arithmetic. 

The California State Department of Education has selected five Walnut Creek elementary schools to be named to list of CALIFORNIA DISTINGUISHED SCHOOLS.  This is a annual award that has gone to elementary schools in Walnut Creek for many years.  This year it means even more.

Walnut Creek real estate continues to crawl through these very tough times.  More inventory means more opportunity for home buyers.  Currently on the Walnut Creek MLS there are 318 homes for sale in Walnut Creek.  Condos from the low $200,000 to 6,000 square foot homes with an asking price of $3.5 million.  Indeed there is something for everyone.

The other piece of the pie is how long it’s taking homes to sell in Walnut Creek.  A great home on Rudger had mulitiple offers on 4 days and the flip side shows homes in Walnut Creek with days on market of over one year.  There is a tremendous amount of opportunity in Walnut Creek real estate right now.  Are you ready to take a look?

Walnut Creek real estate shows that we are getting more inventory and homes are staying on the market for less days. Buyers are coming back and seller are pricing homes well. 

Walnut Creek real estate median days on market continues to drop at a very healthy pace.

Walnut Creek real estate inventory continues to increase at a very healthy pace too.

All signs show that the Walnut Creek real estate market show signs of parity.  It’s good for buyers and sellers.

The new generation of people that care about Walnut Creek is lead by a local teacher, Sol Henik.  His political career has just begun.  Sol has a Blog that deals with Walnut creek events that is worth making a favorite or add to your Google Reader.

http://www.walnutcreekreport.com/

It’s very inportant to homeowners and buisness owners in Walnut Creek to support the new generation of people that have a desire to keep Walnut Creek in the forefront of east bay area cities.

Inventory in Walnut Creek continues to stay at a respectable rate.  There are active listing in all prices ranges.  The real estate community in Walnut Creek sees a steady stream of buyers as well.  It’s a great time to buy a home!