East county's inventory continues to dwindle, further driving up active home prices.
Click here to see available homes in Brentwood as of September 12th, 2012.
Since January of this year there's been a 72% decrease in active homes in Brentwood, CA. This chart clearly illustrates that trend. What it doesn't show is that we have only 60 homes active as of today.
The table below demonstrates similar trends to what I posted last week with regard to homes for sale in Oakley. Looking at the last row, median home prices, you can see that in January the median price of a home sold in Brentwood was $279,000 while in August that rose to $330,000. That's averaging an increase of nearly 2.5% per month: Staggering!
If you're looking to buy, it's really time to get going. "Well, I was thinking about maybe calling a lender to see if I might qualify..." Nope! Call! If you'd like to buy in this market, get your pre-approval in hand, get your earnest money deposit funds into your checking account, find an excellent buyer's agent who will represent you fairly and effectively...then get in the car and go! By the way, bring your pen. As a buyer, the best news you can hear other than "Here are your keys!" is "Your earnest money is going to be deposited into escrow!"
What does that mean if you want to sell a home in Brentwood?
If you are thinking about selling your home in Brentwood, have someone (I'm very happy to do so) provide you with a professional CMA, or Comprehensive Market Analysis. From this, you can get a strong understanding of what your Net Proceeds (what you can anticipate walking away with after the close of escrow) will be.
Will this market last?
This is a simple question to answer honestly. The answer is..."Who knows?"
What's going to happen to interest rates? What's going to happen to the real estate market before the election? What's going to happen afterward? What happens when the banks release this mythical (in my opinion, there is no inventory that banks are holding on to) sea of foreclosures to be sold? If I had a crystal ball I'd be sailing around the world looking for great surfing waves with my family rather than sitting at my desk. The market is what it is, and it always will be.
If you would like a CMA, please drop me a line; email, text, call, etc. I just need your address and a way to reach you. If you know someone else who'd like one done, even outside of the areas I service; Alamo, Walnut Creek, Brentwood, and Oakley, please forward on my contact information. I will put them in contact with an local area specialist form their area.
As always, I'm here for your questions, comments and concerns.
I'll leave you with this Taste of Wisdom,
"But until a person can say deeply and honestly, "I am what I am today because of the choices I made yesterday," that person cannot say, "I choose otherwise."
~ Stephen R Covey
Until next time, and thank you in advance for remembering me when the topic of real estate arises.
Email me at andy.blasquez@gmail.com
Click here to reach Macky Hensel.
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Finally, please comment or ask questions. Other readers may be wondering the same thing. I love the feedback, critical or otherwise, and love the interaction: I love this job.
Click here to reach Macky Hensel.
Please Follow me on Twitter and Re-Tweet these blogs.
Please Add me as a friend on Facebook
Finally, please comment or ask questions. Other readers may be wondering the same thing. I love the feedback, critical or otherwise, and love the interaction: I love this job.
Thank you always for your support.
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