Bay Area Home Sales Dynamics

San Ramon Home Sales Remain Sluggish

Foreclosure activity at the national level is at its lowest annual level since 2007 – dropping 34% over last year. Foreclosure activity in December hit a 49-month low. Foreclosure filings were reported on 205,024 U.S. properties in December, a decrease of 9 percent from the previous month and down 20 percent from December 2010. December’s total was the lowest monthly total since November 2007—a 49-month low.

In December California default notices there were down 38 percent from the previous month. California’s foreclosure rate is 3rd in the nation.

The expectation for 2012 is that home prices in many markets will wee their first (very slight) increase – the first since 2007. Declining REO (foreclsoure) sales is helping local housing markets to stabilize. Hyper-local or micro-market analysis is crucial in individual markets.The recently announced expansion plans and the new jobs associated with them are great news for the San Ramon, Danville and Dublin housing markets.

Property appreciation, tax deductions, and equity building are once again motivating factors for home ownership. The economy & employemnt certainty are the two critical dynamics affecting the home purchase and home selling decision. Though mortgage rates remain at historical lows, the limited number of mortgage options and stricter loan qualification guidleines continue to keep many potential buyers on the sidelines.

Bay Area Home Sales Data

31% of homes sold = $500K or more
22% of home loans = FHA
21% of homes sold = short Sales
26% of home sales = foreclosures

San Ramon Homeowners – Thinking of selling or leasing? Schedule an interview with the Harper Team to learn more about how the impact of new jobs in the area will affect home values and real estate market dynamics.

Buying or selling a home in San Ramon CA?
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Home Buyers – You can get more specific details on homes in your price range by emailing Craig and free real estate reports San Ramon CArequesting a Real Estate Pricing Specific Trend Report – be sure to specify a zip code and price range.

San Ramon Home Sellers – You can request a Real Estate Pricing Specific Trend Report for your home. Email Craig with your neighborhood and pricing info.

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One Comment

  1. Posted January 18, 2012 at 2:29 pm | Permalink

    Thanks Rex, we appreciate the nice words. Keeping up with the local real estate markets, industry news, local economies and home values is an important part of our profession.

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