Livermore Ca housing market update by Steve Eveleth 925-487-2246

Livermore housing market update:

There are currently 84 homes total on the market per active MLS. In the past 60 days we have 91 pendings and 36 closed. Assuming most of the 91 pendings will close lets say for round numbers sake about 50 sales per month. With 84 total homes on the market we are looking at about a 6-7 week supply. Also of the 84 homes are the market, about 25% are slow movers that have been on MLS for some time for one reason or another. So what we're actually working with is probably about 50 of the 84 that are in "active" phases of actually being sold which narrows out 6-7 week inventory down to about 30 days worth of actual moving inventory. Thats not much....not much at all!

We are staging up for another nice year of solid gains as long as rates stay put and job growth and economic factors stay strong and positive.

So what does this mean to you as a buyer or seller? Sellers you can expect your home to sell quickly if its priced right and often times for maybe a little more than you expect.

Buyers: take advantage of a mortgage you can afford with a low locked in 30 yr fixed rate. No one likes to buy at the top of the market. Buyers love to buy and a year later have some equity. If your buying in the very near future the chances are very high you'll look back and be glad you did!

(disclaimer: this post is just my personal opinion for information only and in no way should influence you to buy or sell with my services)

Livermore Ca real estate market update and prediction by Steve Eveleth 925-487-2246

18 new listings so far coming on tomorrow in Livermore. Pretty typical stuff for middle of February. I expect rates to stay pretty decent as its election year. I predict 10-15% gains this year. (in my opinion and in no way is based on anything factual)

My gut says trump gets in next year and since hes a real estate, business, republican, I cant see him doing anything other than continuing to support even further gains in the next few years to come.

Question is at what point will prices be too high for affordability? Some say now! However, I continue to see a vast source of down payment funds and a solid melting pot of buyers eagar and willing to snatch up properties still just as quick as they go on the market. Many thought we would see a "cooling off" last year and this year. Its certainly not starting off that way. Maybe next year? Until it does buyers and sellers are happy to keep buying and selling with no hesitation or reserves at this time............how long will it last? No one knows.

An older established wise broker told me a long time ago just before the 07 crash, "what goes up must come down". One thing for sure the real estate market is like the stock market, it will go up and it will go down so hang on and enjoy the ride in between!