Rental Vacancies At All Time Lows While Rents Surge Upwards
May 2, 2012 By
According to a new census study, rental vacancies are at historical lows and the costs of renting a home are increasing. We are definitely seeing this in our market right now, as investors clamor to purchase homes for long term rentals. With property values appearing to be near bottom and historically low rates, now is a great time to buy investment properties.
Rental Restrictions Are Not Always a Benefit
May 1, 2012 By
Think twice before voting for a rental restriction in your condo or townhouse development. Often times, the negative side of these restrictions are not disclosed to the residents. There are several local developments whose values have been hurt by the rental restriction laws they adopted. The rules have forced many to sell their underwater homes as short sales rather than being able to take advantage of the strong rental demand. Short sales typically sell for less than regular sale homes, which drags values down for the whole neighborhood. We have also seen many nice homes lose out on countless buyers and sit on the market for extended periods of time, because investors were not allowed to purchase them. In order to sell, the home’s prices have to be reduced, which again drags down the entire neighborhood.
Pleasanton Real Estate Market Update
April 30, 2012 By
Last week we saw 17 new homes come on the market in Pleasanton while 30 homes went pending sale and 18 closed escrow. The current available inventory remains very low at 109 properties. We continue to see homes sell very quickly and many with multiple offers as a result. The median number of days on the market for homes that went pending last week was only 12-days. The new homes on the market range in price from $320K – $2.495M while the sold homes ranged from $338K – $2.15M.
Pleasanton Real Estate Market Update
April 23, 2012 By
Pleasanton inventory rose this week to 130 available properties as we saw 27 new homes come on the market, 12 homes go into escrow and 20 homes close escrow. New homes on the market range in price from $279,900 – $3.9M. Sold homes ranged in price from $189,000 – $1.5M. It is very interesting that of the homes that closed last week, there was not a single distressed sale (short sale or foreclosure). This is very rare in today’s market where distressed sales still typically account for a sizable percentage of homes.
Looking to Upgrade Your Home?
April 18, 2012 By
Here are the 7 most wanted upgrades to consider during a remodel. Many of these upgrades are certainly popular in our market. We see many homes being reconfigured with a more open kitchen connected to the eating and living area, as people move away from a formal dining room and/or living room. Additional bedrooms with a private bath are also big selling points these days with more people live with extended family members.
Pleasanton Real Estate Market Update
April 17, 2012 By
Pleasanton inventory increased to 118 available homes this week with 25 new homes coming on the market, 16 homes closing escrow and 13 going pending sale. New listings ranged from $350K – $2.65M and closed homes ranged from $195K – $1.525M. The average days on the market for the homes that went pending was 23 days, which is slightly misleading and skewed by a few properties that sat on the market for a very extended time. The market has picked up dramatically and many homes are selling within a few days with many offers.
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Pleasanton Real Estate Market Update
April 11, 2012 By
