Home Price Reductions Continue from Concord to Pleasanton California

In the last few weeks, we've announced price reductions on:

• 4558 Lakewood Drive, Pleasanton, CA
• 213 Aptos Place in Danville
• 3661 Treat Blvd., Concord, California
• 22 Glory Court, Napa, Ca
• 15 Glory Ct. Napa
• 122 Summerside Circle, Danville, CA

 Today, the owner of the two condo units we have listed in Siena Hills reduced the price on his two units.

• 805 Watson Canyon Court #264, San Ramon is now priced at $290K
• 805 Watson Canyon Court #26, San Ramon, CA is now priced at $315K

We are nearing the end of the traditional "selling season." May through August is the period that normally sees the most activity as this is tied to the school year. This is not your normal market, but this does not mean that sellers want to miss the psychology of the selling season.

I think we are going to see higher transaction rates for the second half of 2008, than we did in 2006 and 2007. The reason for this is the amount of foreclosures and bank owned properties that continue to come on the market. Buyers looking for good deals and investors will continue to drive sales statistics for 2008. In fact, they are going to be the major factor in year-end figures.

Be that as it may, NOW is the time for buyers to lock in that rate for the home they want. All the factors are their to make a great deal. If you are coming in with a low offer – write a letter to the seller and explain why you are offering what you are. We still have some sellers out there resisting the reality of the market.

Prices have still not bottomed out, though we seem to be nearing that marker. The problem is that rising interest rates are negating sales price reductions for overall savings on the cost of owning.

Buyers are well advised to step up to the plate and throw out an offer. Windows of opportunity have a way of shifting from the buyer's side to the seller's side just when you thought it was safe to go into the water!