Months of Inventory for Danville, San Ramon and Surrounding Communities

The Months of Inventory continues to decrease month after month.  June 2009 is 25% lower than May 2009 and one third the inventory of June 2008. 

Dublin has less than one month of inventory and San Ramon less than 2 months. 

Average Months of Inventory for 20 Bay Area Cities =  June 1.46, May 1.96, April 1.99, March 2.79 and June of last year 4.79. 

As has been the trend all year, the lower priced communities with significant numbers of distressed properties that were short sales or foreclosures have the lowest Months of Inventory because they had large numbers of pending sales. 

Months of Inventory definition:  The current number of active listings by community, area, or price range divided by the number of pending sales going back only 30 days.  This figure is a guide to how many months it will take to sell the current inventory if the current rate of pending sales over the last 30 days remains the same.

Our FREE In-Depth Real Estate Market Reports updated weekly, break data down by zip code and price point. These are the best "real time"sources of data you can get for your local market.

Contact Craig for more information - 925-984-4910

Bay Area Homes More Affordable

Home prices are back to 2002/2003 levels.

C.A.R. First-time Buyer Housing Affordability Index stood at 69 percent in the first quarter of 2009 compared with 46 percent (revised) in the first quarter of 2008

• The median price of an entry-level home in California was $213,040 in the first quarter of 2009
• The estimated monthly payment including taxes and insurance was $1,270 in the first quarter of 2009
• The minimum household income needed to purchase an entry-level home in California in the first quarter of 2009 was $38,090

In Contra Costa County the affordability index for Q1 2009 was 50% as compared to 33% in Q1 2008. Alameda County posted a 62% affordability index an 11% increase over Q4 2008.

The entry level home price in Contra Costa County is now $441,040 while Alameda County is $299,760. Of course, home prices in east CC county are well below the $441K level. Buyers looking for condos, will also find lower entry level prices.

The median price of a home in California at the end of 2008 was $346,610, putting it at a level with home prices in 2002. In the Bay Area the median price of a home at the end of 2008 was $622,030, putting them back at 2003 levels.

California condominium prices, median price now at $310, are back to 2003 price levels.

With interest rates backing away from 6% last week and many financial incentives to help buyers, it's a great time to buy that new home or a fixer upper.

Our FREE In-Depth Real Estate Market Reports updated weekly, break data down by zip code and price point. These are the best "real time"sources of data you can get for your local market.

Contact Craig for more information - 925-984-4910

Save Money on a New Home in Dublin, San Ramon or Pleasanton

First-time buyers are in the perfect situation to purchase a home in San Ramon, Dublin or Pleasanton, CA. In fact, the financial assistance for first time buyers is so good, perhaps we should offer coupons.

Federal Tax Credit Coupon for Home Buyers

The U.S. Department of Housing and Urban Development (HUD) announced that first-time homebuyers using FHA-approved lenders can now get an advance on the $8,000 tax credit created by the stimulus package and apply it toward their down payments or closing costs.

California Financial Assitance Programs for First Time Buyers

CalHFA partners with over 300 localities (cities, counties, housing authorities, nonprofit entities, and redevelopment agencies) to offer the AHPP. This program is intended for low income first-time homebuyers who meet specified income limits and who are purchasing a new or existing home anywhere in California. 

The CHDAP offers down payment assistance for first-time homebuyers who meet specified  moderate income limits. The CHDAP provides a deferred-payment junior loan – up to 3% of the purchase price, or appraised value, whichever is less – to qualified borrowers to be used for their down payment or closing costs. This junior loan may be combined with a CalHFA or non-CalHFA first mortgage loan. This junior loan cannot be combined with the Extra Credit Teacher Program (ECTP).

Our FREE In-Depth Real Estate Market Reports updated weekly, break data down by zip code and price point. These are the best "real time"sources of data you can get for your local market.

Contact Craig for more information - 925-984-4910

4250 Fairlands Drive, Pleasanton, California 94588

Pleasanton CA Home for Sale

Offered at $659,000

Gorgeous updated 4 bedroom 2 bath rancher with 1933 sq ft on a 6565 sq ft lot: all new!

New carpet, laminate floors, retextured ceilings, new paint inside & out, new trims, doors, new updated baths with cherry cabs, new fixtures, gorgeous open kitchen with white cabinets, Staron stone counters, new appliances, new landscaping and so much more!

Don’t miss this “move right in” home!

Months of Inventory for Danville, SanRamon, Pleasanton, etc. 

The MLS numbers continue to decrease - Months of Inventory = February 5.31, March 2.79, April 1.99, May 1.96. 

Two years ago, May 2007, average months of inventory for Contra Costa & Alameda counties was 7.38. 

These figures continue to indicate that foreclosures and short sales for the most part still dominate the market in the lower priced communities.However

• Free In-Depth LOCAL Real Estate Market Reports
• Get the Latest Home Buyer News
• Get the Latest News for Home Sellers
• Resources for Buyers
• Resources for Property Sellers
• Get the weekly MLS Market Trends

Contact Craig for more information - 925-984-4910