2010 East Bay Real Estate Update

2010 East Bay Real Estate Update: Smart Sellers Are On The Market NOW!

If you are a Buyer have you noticed that there are not many houses currently on the market in the East Bay?  Inventory is at one of it’s lowest levels in the last twelve months.  And, those houses that are on the market are not that spectacular.  What typically happens in the yearly real estate cycles is that January has one of the lowest months of inventory, AND there are many Buyers who want to buy homes.  In addition, there are several other factors that are highly motivating Buyers – buyer tax incentives until April 30^th, and the expectation of mortgage interest rates rising all the way through 2010.  The Buyers are absolutely correct regarding those buying factors!  SO…if I was a Seller,  knowing what I know about real estate trends and the 2010 market,  I would get my home ready for sale right NOW! The best prepared homes that are in turn key condition, and are priced at current market rates will get the highest prices that will be achieved in 2010! Read more

2010 East Bay Real Estate Update

2010 East Bay Real Estate Update: Challenges Facing $1 Million+ Buyer/Sellers

As you have discovered over the years, Jim Walberg is one of the most positive people around.  So, this report is not about positive or negative, it is about reality.  There are still some significant hurdles for Buyers and Sellers to climb over in 2010 in the East Bay real estate markets.  The past two years the biggest price corrections have been focused on the under $1 million price ranges.  The “sweet spot” of our real estate micro-markets has been in the $500,000 to $700,000 price range.  Mortgage companies and the Federal government have designed most of their home loans to motivate sales below $700,000 – at least until the end of April.  At that time the focus will then be under $600,000.  The biggest challenge for Sellers and Buyers of East Bay real estate is still in the price point above $1 million. Read more