RealEstate680

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!

Days on market is a good way to keep in touch with home sales.  Homes sales in Brentwood continue to fluctuate, but the overall signs are improving.

Walnut Creek home sales has always been the last to soften and the first to rebound when looking at the Contra Costa real estate trends.  There are amazing similarities to these graphs.

Brentwood continues to experience a lot of bank owned properties, but the trends are very promising. 

It’s a great time to buy residential real estate!

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.

We live in a very diverse county.  On the positive side, we have always had good employment, measured growth and although people in east county will argue; good transportation.  BART put Contra Costa on the map.  In the 1980s corporations moved out of San Francisco to Oakland, San Ramon and Walnut Creek.  Cheaper rents, yes; but also a better and less expensive labor force.

The past 12 months in Conta Costa County has produced a large increase in mortgage defaults.  Buyers are still relectant to get into the market.  “LOOKING FOR THE BOTTOM OF THE REAL ESTATE MARKET.”

According to Data-Quick, a real estate reporting company; last week Walnut Creek did not add any foreclosures, neither did Alamo or Danville, Lafayette, nope and Orinda and Moraga–not a one.  The 680 and 24 corridor has a few homes owned buy banks and several homeowners trying to get out from underneath their debts.

Take the time to research the real estate markets that interest you.  Walnut Creek is a good example of a buyers market.  All prices ranges from first time hone buyers to multi million dollar homes.  The new FHA financing to a perfect tool for mortgages up to $725,000 in Walnut Creek, Concord, Pleasant Hill, etc.

It’s a great time to buy a homes!

A very strong argument can be made that Martinez homes prices have increased after a year of steady decline.  The graphs above show a noticeable increase in prices.

Can the same argument be made for Walnut Creek median homes prices?   These $20,000 to $30,000 bounces are a fantastic tool for home buying negotiation. 

From March, 2006 to present, buying power has increased over $100,000.  This is very powerful buying power for a Walnut Creek home-buyer.  Use these tremendous buying and selling tools because it is a absolutely fantastic time to buy and sell a home.

The Days on Market is a indicator that homes are seller faster in the market.  The graphs above shows that Walnut Creek single family homes are selling in less days than the past 60 days.  This may be a very important indicator that buyers are coming back into the market.

Please let me know if you are looking for similar information for other east bay areas.