Nahid Monahelis

What a year 2009 was for real estate!!!! And for the real estate market in Pleasanton it was no exception!!!

Now that the statistics for the whole year have been compiled, it is interesting too see how the market for homes in Pleasanton behaved in 2009.

They say a "picture is worth a thousand words", and as you can see in the following graphs we had an incredible year in Pleasanton real estate .

If you are thinking of buying or selling this year, please give me a call. I can help make sense of everything that is happening in the real estate market, and provide you with the "big picture". There is NO obligation, please contact me today!

Best Regards,

Nahid Monahelis, Realtor

925-216-9380

www.pleasantonhomesz.com

Pleasanton "Months of Real Estate Inventory" For Sale For 2009

Pleasanton Real Estate "Average Price Per Square Foot" For 2009

With the proliferation of bank owned properties (REO's) and "short sales", there has been a lot of interest among buyers to purchase these properties and hold them as investments. Namely, rent them out to others.

Great idea!! Renting is a fine way of building wealth, since the renter pays quite a bit, and depending on how much money you put as downpayment, it could be all your monthly expenses (mortgage, insurance, taxes, etc). Sure, there are the occasional headaches of dealing with tenants and maintenance issues, but these can be mitigated with good planning and procedures.

I have purchased and managed investment rental properties for myself and for clients for over 12 years and I know first hand what great wealth generators they are.

Over the last year or so, many clients have been asking about purchasing REO's or "short sale" properties. Since I live in Pleasanton, many are asking about purchasing single family homes that are REO's or "short sales" in Pleasanton, for investment purposes.

But, just because a home is an REO or a "short sale", that alone does not an investment property make!!

I personally prefer multiple units. Why? Consider these 3 facts:

1) If you have a single unit (1 house, or 1 condo etc) and your tenant moves out, you have 100% vacancy! Hopefully you have enough reserves to pay the mortgage till you find the next tenant. If you have say a 4-plex, and one tenant moves out, you have 25% vacancy, and the other 3 tenants pay for the mortgage.

2) Single family homes in Pleasanton start at about $500,000. At $2,200 per month in rent (for the average 1,300 square foot home), your yearly "gross income" would be: $26,400

I recently sold a 4-plex in San Jose to an investor for $670,000. The property is located at 563 Troy, near Saratoga Avenue and Stevens Creek. The property generates $4,276 per month, or $51,312 of "gross income" per year. Much, much better return!!!! Yes, you can buy a home in Pleasanton for $670,000, but you cannot rent it for $4,200!!!

3) Your per "unit cost", in Pleasanton would be: $500K for the single family home. With the above 4-plex as an example it would be: $670,000 / 4 = $167,500. Much, much better!!!

Yes, you can buy a condo in Pleasanton for $170,000 (actually there is one for sale on Arroyo Dr for that much), but you have to spent $237 per month on HOA fees alone. There goes your profits!!!

So, I will definately buy a home in Pleasanton to live in it!!! It is a wonderful community, but don't be fooled into thinking that because a house is bank owned or "short sale" in Pleasanton, it is an "investment".

I have more insightful facts about investment properties, and if you are thinking of purchasing one, I can help with selection, running the numbers, valuation, buying, selling and managing.

By the way, here is the 4-plex at 563 Troy. Sold on December 17, 2009 for $670,000.

Nahid Monahelis, Realtor Windermere Real Estate 925-216-9380

www.pleasantonhomesz.com

The Hoildays always make me smile, and sometimes it is the little things that do it!

I was walking on Main street in Pleasanton, right by the "Pleasanton" arch sign. The air had a chill in it, the Holiday decorations were up on the lamp posts and lit, people were walking with their winter coats on, and it created an atmosphere that brought back childhood memories of how exciting it was. And it still is!!!

I snapped a picture of the way it is in Pleasanton, December 2, 2009. Happy Holidays!!

Nahid

Pleasanton Downtown, December 2, 2009

Nahid Monahelis

www.nahidsellsre.com

I could not stop smiling after viewing this video!  Take a look and it will definately make you smile!!

Best Regards,

Nahid

Sales activity has been quite good in the Pleasanton Meadows neighborhood since June of 2009!! So far 14 homes have been sold, 2 are pending and 3 are active on the market. For the most part homes in Pleasanton Meadows are not staying on the market for too long, on average homes are on the market for under a month. There are a few exceptions of course where the homes are staying on the market longer!!

Prices are holding well and even the "bargain list priced" home at 3410 Stacey Way, went for over $550K!!!!!

Please feel free to contact me with any questions about homes and real estate in the Pleasanton Meadows neighborhood. To view all the homes currently on the market in Pleasanton Meadows please visit: www.nahidsellsre.com/Pleasanton_Meadows_Homes_and_Real_Estate.html

To view all the homes in Pleasanton, Dublin, San Ramon, Danville, Livermore please visit: www.nahidsellsre.com

Nahid Monahelis, Realtor 925.216.9380

PLEASANTON MEADOWS REAL ESTATE MARKET UPDATE, OCTOBER 2009