San Ramon August Housing report

The Housing market in San Ramon has heated up so much that I think its time for me to pack up for the year and go for an extended vacation !!!!!! There are so many cash buyers writing offers well over asking price, how does anyone really compete?? I just wrote an offer on a property in Windemere that came on the market for a ridiculous price of $623,000. After writing $110,000 over asking, my buyer still got beat out by a all cash buyer who paid a lot more for the same house.

It is difficult for the buyers to comprehend what happened to the market ! For me too buyers, and this is great news for sellers. Unfortunately for many buyers who check comparables and make their offers based on that, are being outpaced by the pace of the markets recovering climb. The banks are not slowly showing Contra Costa county as a stable market on appraisals but they are still not giving full value for the homes. Hence buyers are coming in with the difference in the price an dthat is why all cash offers are getting priority over all others. I just Listed and Sold 165 Landsdowne Loop in Windemere for $499,000 and sold it for $545,000 in 2 days, and with 9 offers ! Where does this leave our FHA buyers?? I am now beginning to see listing agents writing in confidential remarks that FHA buyers are not welcome... quite outrageous but considering tough appraisal guidelines with FHA loans, it becomes extremely difficult to claim the value the sellers want.

Some homes, specifically short sales, are now closing and here is detailed information of closed sales from July 1st 2009 in Windemere, San Ramon