I went by the Paloma community at about 11:00am Saturday morning and apparently, there were about 14 groups of buyers waiting to rush the doors when they opened at 10:00. There were only two homes left at 10, but these 15 buyers were sure they were going to be the ones to buy them.
I don't get the logic since the first two people were probably going to buy the first two homes, and then what were the other 12 people thinking???? Anyway, I guess I would understand if they were giving away free donuts and coffee or something, but once the first two people bought homes, why were the rest hanging out?
Anyway, good times are back (kind of) and let's see where the summer months take us.
Meanwhile for those clients that don't like sleeping in their cars all night, call me and I'll find a home for you that will still be a great value, but require no camping.
The transition point is almost here from it being a buyers market to a sellers market. There is just about a one month inventory of homes on the market. With 1/2 of those being short sales, it makes the market for the new homes and the "regular" sales very hot.
If your a fence sitter from years ago, you better jump off the fence. If not, you will be scratching your head saying "but I thought on the news they said the world was ending!!!!" while the rest of the buyers are out buying homes at very low prices.
My last post (which probably nobody read anyway) said that foreclose are going, going, gone!!!
Well, maybe they're not gone, but there is only ONE bank owned home in all of Windemere as of tonight.
So, out of 47 homes that are currently for sale in Windemere, there is only one REO.
Now, the question is whether there is a boatload of homes waiting to go into foreclosure. If you ask some of the naysayers, there is a flood of homes waiting to come out as the moratorium of foreclosures ends. Or, you can believe the others that say the REO's are done and the rest will just sell as short sales.
I'm actually in the middle. I know there are a few vacant homes waiting to come on to the market, but for the most part, I think the worst is behind us.
Andrew
The Stats tell the tale:
Here is a quick update of what's happening in San Ramon and Danville real estate. We hear alot about how many foreclosures there are and how many are still coming. BUT, the stats would lead me to believe that were winding down in my area.
SAN RAMON:
Total homes for sale: 354 REO's 27 (out of 354, or 7.63%) Short Sales 117 (out of 354 or 33.1%)
Total Homes Pending: 169
Total Sold since March 1st: 29
Danville:
Total homes for sale: 245 REO's 8 (out of 245 or 3.26%) Short Sales 43 (out of 245 or 17.6%)
Total Homes Pending: 59
Total Sold since March 1st: 30
So, for those of you that are expecting to pick up an easy bank owned property at a low price, I thing the time is ending. The good properties are selling very fast. Short sales are taking the place of bank owned homes and are becoming the "norm".
So, get your bank owned before it going, going, GONE!!!!!
San Ramon, Danville, Dublin, Pleasanton: Commitment, Professionalism, Knowledge and Experience are just a few of the qualities that Andrew brings to your advantage in any real estate transaction.
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