Oakley, CA

Oakley Housing Market Report for September 2009.

This Oakley Housing Market Report focuses on Home Sales in Oakley California in September 2009 and compare them to sales in August 2009. It also provides information on Homes Currently for Sale in Oakley California. This Oakley Housing Market Report are based on Single Family Homes and taken from the Multiple Listing Service (MLS) on October 12, 2009.

Contrary to popular belief Prices in East Contra Costa County continue to head up in each and every community. If the number of sales is down it is because there are fewer homes on the market.

The Oakley Housing Market shows steady growth of over 2% per month in prices while the market availability is shrinking. In August there were 68 Homes Sold in the Oakley Housing Market the average price was $234,204.00 and the Median Price was $231,000.00. The average Listing Price Per SF on the homes sold in Oakley California was $103.00, but the average Sold Price was $106.00 per SF. The average days on market for sold homes was 32.

In September both the asking and selling price per SF increased, while average and median price went down. The Average Price went down to 213,333.00 and the Median price went to $191,000.00. But, there were only 62 Home sold. The average days on market was 58.

The trend in the Oakley Housing Market is more smaller homes sold at better prices. So the average price may be going down, but the cost per SF is going up.

Currently there are 102 Homes Availble in the Oakley Housing Market with an Average Asking Price of $299,373.00 and a Median Asking Price of $284,900.00. The average asking price per SF is $147.00 with Average Days on Market of 94.

The supply of homes is less than 2 months. We are in a traditional slow season, but I suspect prices will hold steady if not continue up through the end of the year. It is hard to predict long term market trends with the flood of new initiatives to head of foreclosures.

OAKLEY CA SEPTEMBER HOUSING MARKET UPDATE

September is rapidly coming to a close and usually it is a time when the Real Estate Market begins to slow down. However, the Housing Market in Oakley CA is not normal and has not been for quite some time. Oakley CA and its surrounding cities Real Estate Market are hot! The current market is predominantly Bank Owned and Short Sale Listings. There are bargains galore and Buyers are showing their appreciation for this market and sales are brisk. Oakley CA currently has 67 available listings and the Average Sales Price is $180,751. Listings are taking an Average of 82 days of Market time to sell.

Now is a great time to buy in Oakley CA. There is Real Estate Available for First Time Buyers, Move Up Buyers and Investors. Oakley CA is a great family community located in the greater San Francisco Bay Area.

If you are looking to purchase Real Estate in Oakley CA or any of the surrounding cities give us a call or visit our website for more local information.

OAKLEY CA SEPTEMBER HOUSING MARKET UPDATE

Oakley California Market Report – August 2009

Oakley has the unique distinction of being the only Market that is down this month in East Contra Costa County. This Oakley Market Report Focuses on Sales in August of Single Family Homes as compared to Sales in July. The information is pulled for the MLS from between September 15th and September 18th. I will be presenting some Special Market Reports on certain Market Segments in Oakley and other communities such as Short Sales, Bank Owned Home, First Time Buyers, and Higher End Homes in the near future.

In July of 2009 there were 73 Homes Sold in Oakley California. The Average Price was $219,101.00 and a Median Price of $206,000.00. The Average Price Per SF in Oakley California was $112.00 and the Average Days on Market was 24.

Compare July to August with only 63 Home Sales, but at an Average Price of $234,428.00 and a Median Price of $235,000.00. The figure I usually think is most important is Average Price Per SF and that is $106.00; this is an almost 6% increase in one month!

Currently there are only 127 Homes on the Market in Oakley. The homes still on the Market have been on the Market for an Average of 99 days and have an Average List Price of $284749.00 and a Median List Price of $275.000.00. The Average Asking Price Per SF is $141.00.

I think the decrease in Average Price Per SF is an anomaly attributed to the large number of very big homes on the market in Oakley. There are a number of New Bank Owned Homes that have never been lived in that are being sold rather economically. Note the Average Price is still going higher.

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INDYMAC/ONE WEST BANK LOAN MODIFICATION HELP IS JUST LIKE A FOX WATCHING THE CHICKEN COOP

Just when you thought the President's Home Affordable plan was going to be your saving grace, in the midst of this foreclosure mess, you get a rude awakening after you submit your Loan Modification Package. You get a letter stating that you do not qualify for a Loan Modification. SAY WHAT??? You read the letter again to make sure you didn't miss anything and yes you confirm that yes indeed you have been declined. You think this has got to be a mistake and immediately call Indymac/One West. The call goes something like this:

You: Hello, I just got a letter that says I don't qualify for a Loan Modification.

Indymac/One West Rep: Yes, that's true Mr./Ms. Customer it says right here on my computer screen that you don't qualify because you have too many bills and not enough money coming in to cover those bills.

You: You are right about me having a lot of bills but that's why I applied to get a Loan Modification so I could get some debt relief in the way of a lower payment.

Indymac/One West Rep: Well you don't qualify for a modification so you should just Short Sale your home.

You: WHAT? SHORT SALE MY HOME! I thought you people were supposed to make every effort to help distressed borrower.

Indymac/One West Rep: Well all I can do is suggest you re-apply for a modification or put your house on the market as a Short Sale.

I am sure by know if you don't get where that phone conversation is going I will give you a clue. No where, just like your application for a loan modification.

If you are not aware of the fact that Indymac/One West was sold to a group of Gazillionare Hedge Funders. You know now! You see these folks that bought were subsidized with tax money and their exposure to "bad" loans is minimal. Well what do think about that? Get government subsidy, no accountability for lack of help to distressed property owners. What a deal! But, wait here's one more blow to Indymac/One West Borrowers. Indymac/One West has NOT adopted the Home Affordability Modification plan (HAMP). Which means that they were okay with taking Taxpayer money but, they are not okay with helping Taxpayer's. Hmmmm, imagine that!

If you have the displeasure to be a Indymac/One West Borrower you need to contact your political representatives ASAP along with contacting the Office of Thrift Supervision, the FDIC and anyone/agency that may have authority to help.

Let's face it these banks are running amuck and it's time we take back control of the Chicken Coop!

INDYMAC/ONE WEST BANK LOAN MODIFICATION HELP IS JUST LIKE A FOX WATCHING THE CHICKEN COOP

Adrienne Smith, Broker

Renegade Real Estate Services Inc.

877-843-8300

www.RenegadeRESI.com

www.LoanMod-Doiturself.com

Oakley CA Foreclosure Moratoriums

Good Idea or Just Another Kick of The "Can" Down the Road? Is it just me, or are there others out there who are tired of the same old dysfunctional approach to a serious problem. I am referring to the latest Foreclosure Moratorium that has be put into effect in California. Haven't we recently been down this road? My most recent check of the numbers show that there are record numbers of Foreclosures that happened right aftter the last Moratorium. Go figure! But how could that be? Weren't the Moratoriums put into place to allow homeowners more time to workout their loan woes with their lenders? Oh yeah, I forgot, during the Last Foreclosure Freeze lenders had the OPTION to work with distressed borrowers. This time around, Lenders are supposed to provide proof that they have made every effort to work with delinquent borrowers. Whew, what a difference a day makes!

So let me see if I understand the goal of this new Foreclosure Moratorium (California). Distressed Homeowner's get 90 more dayst to be led on by their Lender in hopes of getting loan terms that make sense (i.e. better rate, longer term, principal reductionNOT). I am looking into my Crystal Ball...Ooops I mean my "Magic 8" Ball! Oh, Magic 8 ball, will lots of homeowners be saved by the new Foreclosure Moratorim? I am shaking the ball and the answer is..... NO! Wow, I was really hoping that the old "Magic 8" Ball would give me a much more optimistic outlook!

We need real solutions, right now. Our local Politians are obviously, for the most part clueless and powerless as to how to really put a fire under these Lenders behinds to get realistic solutions to our national foreclosure crisis. Blaming the tiny number of Loan Mod Scammers and all but shutting out those who work in the trenches and can provide viable, realistic solutions(Real Estate Brokers and Agents) out of the dialogue prolongs the unecessary suffering of families in distress.

The current California Foreclosure Moratorium will buy many time to stay in their home just beyond Summer and give many the false hope that they perhaps they will be in their home for the holiday season. But in reality, the moratorium has just kicked the "can" down the road a few months and many will once again be facing foreclosure just in time for Christmas!

Oakley CA Foreclosure Moratoriums