Gene Ward

The Alamo, CA home market summary below for Active, Pending and Sold listings. The Pending and Sold homes are dated from June, 20 2010 to July 20, 2010.

Active Listings= 1, Avg. days on the market= 110 days.

Pending Listings taken off market in the last 30 days= 19 (Keep in mind some of these pending listings are short sales and may never close.

Sold Listings, close escrow and buyers took possesion= 1

By dividing the number of active listings by the number that went pending in the last 30 days we get the months of inventory, number of months to sell active listings at the rate of pending listings.

110 divided by 19 = 5.8 months of inventory.

When you are ready to start your Alamo home search give us a call.

Latest marketing statistics from Alamo, California. April 27th, 2010.

Let's put these numbers into perspective. A 38 million dollar listing was removed (where indicated), from the statistics as it's an unusually high price.

1. Sold (coe), in the last 30 days = 1, the remaining closed after the 1st of the year but before 3/27/2010.

2. DOM is less for pending listings. Pending listings DOM is 61% of Active.

3. The Avg. sold price is 71% of the Active listing avg. price. Indicates price does matter.

4. Five months of inventory should indicate a sellers market but it does not seem like it as prices are still dropping. We expect more foreclosures in the next few months.

If you need more information about Alamo or when you are ready to start your Alamo home search give me a call.

Just noticed it's been a few weeks since my last blog entry. Must keep up with this stuff as it's so important to my SEO plans. So, what do I talk about today? So much going on in both my business life and the world.

Health Care just passed. Not to pleased with this bill or how it was accomplished. Seems like the majority of Americans didn't want it, at least that's what numberous polls showed. For our representatives to pass a bill this huge in this way, makes an old veteran sad when we lose a little more of our liberty. We'll see how it all turns out, it's not over yet. Upcoming elections will determine just how accepting the American people are of the party that shoved this through the bill making process.

On a lighter subject, we're working hard on our companies new web site design. I get excited about it when we make progress. Been so busy setting up our new franchises and their agents we havn't been able to spend as much time as we want to on software development. I've done this before with Real Estate Real Easy. Lots of work making sure all the bases are covered will pay off in the end.

The real estate market still seems to be caught in the head lights of a bad economy. Not moving much. I don't care what the news outlets say, we here on the front lines know what's going on. When the government subsidies expire expect the market to almost stop. Pretty soon people will expect government subsidies to be a part of the normal home buying process. Bad road to go down. Lots of bank owned properties. Still not seeing many get to market. Banks are holding off on the actual foreclosure until it's good for them. At some point they will get to market but if they let to many go at once it will have a downward pressure on prices. Best way out would be to let nature take it's course. Once homes drop to low levels there will be plenty of home buyers, as long as they have jobs.

I'm a licensed real estate broker specializing in Alamo, Danville, San Ramon, Walnut Creek and Pleasant Hill. If you are in the market for a home give me a call to discuss the market conditions in these cities. There are some good buys out there. And when you are ready to perform your Alamo home search we'll find just the right home and negotiate the best possible price and terms.

Time to stop blogging and get my blog talk radio show TechCall going. Every Tuesday we discuss issues related to technology in the real estate industry.

Are you looking for a home or property in Alamo, CA? If you are in the process, or getting ready to, start your Alamo home search, now is the time to get started. Interest rates are still at historic lows and home prices have dropped to reasonable levels compared to 1 or 2 years ago. You will of course need to qualify for a loan but if you have the down payment, good credit scores and work history it can be done.

I'll be posting my yearly "History of Home Prices" here in just a few days. In the meantime this is the current Alamo, CA housing market summary.

Active Listings= 76

(Currently for sale properties.)

Pending in last 30 days= 7

(Includes one subject to lender approval.)

Sold= 12

(Closed escrow in the last 30 days.)

Months of Inventory= 10.86

(Number of months to sell current inventory at this rate of Pending sales per month.)

Below for comparison are the numbers from July 2009, we've seen an improvement in the housing market.

132 active listings

14 Pending Sales

13.2 months of inventory

If an Alamo home search is in your future the following market statistics and conditions are encouraging.

Active Listings = 133

Total Pending Sales = 29

- Pending Short Sales = 11

- Pending REO (bank owned), = 1

- Pending in Last 30 Days = 15

Months of Inventory (Active Listings divided by pending sales in last 30 days), = 8.86 months of inventory.

Sales in the upper end market seem to be doing well compared to other areas here in Contra Costa county. Alamo has always been a desirable area so those that can afford to move up are doing so.

If you are in the market for an Alamo home now is the time to make your move before interest rates begin their enivitable climb. Jumbo loans are now available at interest rates far below where they were at the beginning of this year. For more information about Alamo and available properties give me a call or shoot me an email to start your Alamo home search.