East Bay Real Estate Market Update

I have just posted statistics for many East Bay communities on my website.  Click Here to go directly to that page, or go to http://www.billfletcherhomes.com/ scroll down the left side to the tab that says"Market Update".  The posted figues are for many East Bay Neighborhoods such as Elmwood, Rockridge, Richmond Annex, Temescal, Thousand Oaks, Albany, El Cerrito and more. If you are planning on buying a home or selling a home in the East Bay you owe it to yourself to be as informed as possible.  The data I've posted is pretty specific to local areas.  It includes Median Sold Price, Median List price, Supply and Demand, Days on Market and months supply of inventory.  I post as much as I can and update as time allows.   The current charts graph the past 24 months and give a very good picture of market trends, highs and lows, etc. 

While you are on my website you might want to try the map based search feature.  It is new and easy to use. You can draw an area on a map and it will immediately show you every house that is for sale in that area.  You do not have to register to use my website, though you may if you wish.

Lastly, I send out a newsletter monthly which you are welcome to sign up for. But I need your email.  Just drop me a note requesting that you be put on my mail list and I promise not to spam you.

Oh, one more thing, please call me 510-368-2854, email me bill@billfletcherhomes.com or text me if you would like any real estate information, home valuation, comparative market analysis, or resources.

East Bay Real Estate Market Data Now Posted

I just posted market data for Albany, Berkeley, El Cerrito, Emeryville, Kensington, LaMorinda, Oakland, and Piedmont on my website http://www.billfletcherhomes.com/.  This is comparative data that shows month by month for the past 2 years what the market activity was.  You can see trends, highs and lows.  Take particular note for Median Price, days on market and months supply of inventory.  Its pretty clear from this data that even though we're having a dip in prices and sales activity in many areas currently, the bottom of the market hit most areas in 2009, typically in the spring, and it will take quite a drop to match these lows.   This link (click here) will take you to the city of Berkeley to give an example of the charts.  there are 21 pages posted for each area so look at them carefully.   If you are buying a home or selling a homee you wiall want to look at this market data.  I have select zip codes posted as well if you want a more acurate picture of your area.  Look for prices, sales and interest rates to pick up this spring.  we are looking forward to a brisk market.   If you have been on the fence about buying I'd seriously consider getting off and taking action.  The economy is picking up and as it does rates will increase.  If you want to request a report for your area and it isn't posted just drop me an email and I'll get it to you as quickly as I can

East Bay Residential Real Estate Market Reports Now available!

I just now posted on my website statistics for the following areas:  Berkeley (city as a whole, flats, hills), Albany, El Cerrito, Kensington, Emeryville, Oakland (entire city only), Piedmont (Click Here to See stats).  If you are planning on buying a home or selling a home in any of these areas this information is a must.  Once you start looking at this data you will probably see that now, more than ever, the need for consulting with a great realtor as the markets are many and they are difficult to read. Please call me: 510-368-2854, email me: bill@billfletcherhomes.com, or visit my website, http://www.billfletcherhomes.com/ for more information.

Real Estate Sales Statistics for September 2010 Berkeley, Albany, Kensington, Oakland and Piedmont Posted

I just posted sales graphs for Berkeley, Albany, Oakland, Kensington and Piedmont on my website. Each posting is about 20 pages and contains comparative data for the previous year for median sales price, sales price vs list price, months of inventory, average days on market and more.  I intend to post Emeryville and El Cerrito as soon as I have a chance.  In the meantime you can get a lot of info by visiting http://www.billfletcherhomes.com/ and then clicking the "Market Update" tabs.  Or you can simply click here. If you are planning to buy or sell a home in the communities of berkeley, Oakland, Albany, Piedmont Kensington or other parts of the East Bay it is important that you have this data.  You always want to be ahead of the curve when you are pricing a property whether to buy or sell. Please come back often as real the markets are volitile right now and information changes daily.  If you would like a chart for your particular zip code or MLS area plese let me know and I'll see what I can do.

No Dip in Home Sales in Berkeley

It was all over the news that nationally home sales took a major dive in July when compared to the prior month.  I see two main reasons for that dive.  The first is that seasonally, at least in the East Bay, sales take a dip.  It happens every year.  We have basically two home buying/selling seasons, Spring and Fall.  July is typically slow and August even slower, much like December and January.  The second and larger reason for this years' dip is that the government sponsored incentive ended June 30th.  All buyers who wanted to receive this stimulus money or who were motivated to buy because of this had to close their transaction by June 30th.  Well this meant that many buyers were motivated to take the plunge sooner than they would have if their were no stimulus.  The second is that escrows that normally would have closed in July were pressured to close early.  This should have been anticipated by the experts.  It surprises me that so many economists were surprised at this data. 
Now that I've said these things, the reality for Berkeley, California, indeed most of the East Bay, is quite different from other parts of our nation.  I decided to take a look at the stats myself and compared June 2010 and July 2010 and this is what I found. In June 66 listings sold.  In July the number was 65, hardly a significant drop.  These numbers indicate that at least for the time being Berkeley continues to be a strong market for those who want to buy or sell a home.

In Albany the scene is pretty much the same.  The numbers are smaller, 12 sold in June, 10 sold in July, so statistically there is not a lot of significance. 

Oakland continues the theme: 390 homes sold in June vs 387 homes sold in July. Less than a 1% change. 

We can look at other data such as median home price, days on market and new listings to get a better understanding of the market dynamics in the East Bay.  If you are interested in seeing this material I'll post on my website: http://www.billfletcherhomes.com/ within the first week of September. In the meantime, if you are planning on buying or selling a home in Berkeley, Albany, Emeryville, Oakland or other parts of the East Bay, or if you need a home valuation or other real estate related need, please feel free to email me at bill@billfletcherhomes.com.

Need a Loan Modification for your home? Try NACA

An article in today's SF Gate tells of a huge event coming to the Bay Area in Richmond on October 16 to the 20th.  They expect to attract 500,000 home owners who need a loan modification in order to stay in their homes.  NACA or The Neighborhood Assistance Corporation of America has launced its "Save the Dream Tour."  A complete story is available on the SF Gate website: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/09/27/BU7819S899.DTL. This is something to tell your friends about!

Berkeley, Oakland, Emeryville, East Bay Real Estate Market Update

I'm noticing a shift in the markets that I want you to be aware of. What was a buyer's market at the low and middle ends has now become a sellers market once again. the issue is that there is very little inventory and any property that is any good is receiving multiple offers which in most cases is driving the sales price up. This may indicate a short term or a long term trend. At this time I don't know which. What I do know is: that on Saturday a property in Walnut Creek on Molly Lane in a short sale situation received 4 offers as soon as the price was reduced; that a home on 67th Street in Berkeley last Thursday received 4 offers, all but one well above the list price in a standard (traditional) sale situation; that an REO (banked owned) home on San Jose Street in the Richmond Annex received 15 offers within the first few days of being on the market and that these offers were submitted to the bank last Saturday.

What can be gleaned from my experiences is that many individuals who consider themselves first time buyers are currently priced out of the market. Have they missed their opportunity? Perhaps. I can't predict the future so I don't really know. I keep hearing about another 2 million homes that are REOs and will be coming on the market soon. But this rumor has been out there for months now and I haven't seen its fruition. If the banks actually do own these large amounts of homes and are holding them back out of fear of flooding the market then now is the time to begin releasing them, now, while the tax credit is still available, now while there are still first time buyers who have a renewed hope of owning a piece of the American Dream.