Livermore California inventory tics up, sales still strong by Steve Eveleth 580homesales.com

When it comes to Livermore California real estate prices there is no doubt they are holding steady ground. Several buyers I have spoke to in the past few days all had one punch line in common in our conversations "wow Livermore is a hot market". With lakes, walk trials , wineries , an adorable downtown and lots of room to breath (open space) . With so many desirable amenities and "reasonable" prices still for a single family home compared to areas like San Francisco and Silicon Valley where the average entry level price is a shocking 1.3 million often times with bidding wars up to 1.5 and 2 million is not uncommon. With a ever fast increasing population , a shortage of land, developmental politics , a thriving economy, low interest rates and a vast pool of ready willing and able buyers, word is we will see the upward price trends continuing over the next 3-5 years, with Livermore California real estate being one of the last stops in the Bay Area for the "best bang for your buck" when it comes to a long term home purchase.

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1830 Chestnut St in Livermore, lowest priced SFR in Livermore with listing agent Steve Eveleth

lot of calls and showings on 1830 Chestnut listing. $399k with a huge lot close to downtown. Its the lowest priced single family home on the market in Livermore. 1 low ball on the table. Just a matter of time someone will pull the trigger at full price. Its funny how many people call and I can almost predict what they say "is there any flexibility in price" and "it needs a lot of work" and "how motivated is the seller". Its important when you hire a listing agent to sell your home you hire one that has extensive current experience with how the market is today and has their head currently in the game meaning doing at least a few closings a month. How to price the home out the gate, what the competition is, how to talk to the buyers agents and buyers calling is key, along with picking up the phone and taking EVERY call. Nothing is more frustrating to a buyers agent or buyer trying to get information on a home and the listing agent cant pick up the phone. Its a huge issue these days.  How to leverage current market conditions to get a seller the most money for their home without losing potential offers and knowing when the best money might be on the table which may or may not be the first money, without the listing staying on the market too long and becoming stale, is truly an art and a good agent will have this finely tuned.

Livermore California housing inventory on the rise, now what? By Steve Eveleth

Livermore inventory on the rise but pendings  solds  keeping up the same  pace! Its interesting to watch the pace of pendings parallel the rise in actives. This says the market still has plenty of steam. In a transitioning market, the numbers of actives will start rising and the number of pendings and solds will decrease. Today there is currently 114 homes on the market active in Livermore. Up about 20%in the past month from previous months. 60-90 actives was the norm for about a 2 years straight. Many folks have been watching the market "timing their move" waiting for it to come back up or thinking this is the top of the market and cashing out. But just as they are doing so, a new foundation of investors, first time buyers and buyers re entering the market are snatching them right up, than you very much! http://www.580homesales.com/

In multiple offer situation which has been the landscape the past couple years, if there are 3-5 ready willing and able buyer per entry level home and obviously only one offer gets accepted, that means there are 3-4 buyers still out there shopping. So given that, In my opinion, an increase of inventory in a multiple offer supply and demand constraining market means absolutely nothing as far as any signs of a major market shift.

Now one thing we do want to keep an eye on is rates, which have slightly been on the rise this past week, but again, even with rates rising a bit, lets say 1 or 2 buyers were priced out due to rising rates but 1-2 per home on the market can still afford it, we still have a balanced, moving market.

Bottom line too is the population is increasing faster than there are enough houses. People have two choices when they need to find a place to live. Rent or buy that's it. Places to buy are scarce and places to rent are scarce so housing in general is in a supply and demand crisis.

There is a lot of $$$ out there right now in the Bay Area coming out of the woodwork and California Real Estate without a doubt, for now, is the drug of choice! Got yours? By  Steve Eveleth Livermore Real Estate Expert. http://www.580homesales.com/