Just an update for everyone out there looking for homes. The entry level market is rebounding big time. It is almost like it was back in 02-05. Many places are getting multiple offers above & beyond asking the first day they are on the market. This is strictly the entry level market only. Anything priced under $400 k in the Livermore, Mountain House, Tracy area is moving quick. www.steveshomesearch.comListing agents are so busy with offers they cant see straight or return phone calls to buyers agents like myself. It is taking approx 4 to 5 times of going out shopping, writing offers on SEVERAL homes to actually get one. These properties require full price offers. We no longer are in a low ball market. Some times it takes buyers a few times of losing a few homes they love by writing less then asking. I say this to help everyone utilize there strategies as well as their time & ours as active agents out in the field with buyers everyday. The proactive buyers that are aggressive & preaproved are getting into homes at reasonable prices. The low ball investors (even with cash doesn’t matter) & low ball buyers no longer have a position in the current entry level market in the Livermore Tracy & Mountain House area. WE ARE NOW SEEING THE BOTTOM. A year or so of this supply & demand of the entry level REO's getting bought up & it will eventually harness prices & then begin to even increase a little trickle up into the higher end homes. All we are doing right now is creating a new foundation of solid loans & entry level buyers. Once the inventory or REO's & short sales is gone we will begin to see supply & demand come into play & as long as interest rates remain attractive we could start seeing incremental price increases in next year or two.....of course this is all my personal opinion based on my current real time experience as an active agent with a team that is out in the field 7 days a week with buyers writing offers. Have a great weekend I hope this helps anyone who is curios about the status in the market right now in the Bay Area.
Steve Eveleth 925-487-2246 "committed to working hard & helping people do whatever it takes to get into a home" Thanks for reading my ad. What are you trying to accomplish & how can I help you? http://www.steveshomesearch.com/
Saturday, April 12, 2008
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