Danville, CA Real Estate Market - Price Gets it Done

I was in a room with more than 75 local Realtors this morning (it wasn't a hostage situation). I must have heard the same story from 10 different set of lips - if only the sellers had listened to me about price… they wouldn't have lost another $20K, $30K, $50K…

Sellers just aren't getting it - pricing it right to sell will save you tens of thousands of dollars in the long run. We did that for this listing on Barrett Circle in Danville.

Every Re

altor in town has heard the same argument from sellers for over a year now - "we need to get…" But here's the rub - you can't get more than the market is willing to pay and wasting 3 months to wake up to that reality is costing home sellers big bucks.

Homes for sale in Danville are sitting on the market waiting for sellers to get real.

This week's market details report for Danville shows the average days on market for homes in Danville is 104. How much value do you think gets lost in this market in 104 days? How many potential deals get lost because buyers move on to more reasonable sellers? And here's the sad part - the sellers do come down in price because they want/need to sell. They are cutting their own throats by allowing time to pass before pricing the home to sell.

This entire report is 18 pages and breaks the data down by zip code and price point to give you a better idea of what is happening in your price point. You can get it FREE here.

Realtors want to help you get top dollar for your home. Unfortunately, top dollar is not determined by the sellers wants or needs - it's determined by the market and a qualified buyer.

Here's a pricing strategy to help sellers get top dollar for their Danville homes.

California Real Estate – Investment Opportunities

The Office of Federal Housing Enterprise Oversight (OFEHO) has released its second quarter data and analysis of the U.S. housing market and California appears to still be the land of opportunity for real estate investing.

Since 1980 house price in the Pacific region has increased more than 431%. California real estate is one of the driving forces behind this real estate appreciation trend.

While the Pacific region is showing a -10% trend for the 12 month period and about a -5% trend for the second quarter, the 5–year trend is still around plus 50%.

California communities represent 12 of the bottom 20 depreciating metro real estate markets nationally. The central valley communities of Merced, Stockton and Modesto lead the list.

For investors looking for real estate deals, California is a land of opportunity. With Germany’s and the United Kingdom’s economies in decline, the U.S. dollar is gaining in value and appeal as a safe haven for investors.

U.S. and California real estate continue to represent good investment opportunities. 

Contact Paul Mees for California real estate (925) 963–4246

California Association of Realtors reports that the unsold inventory index for existing, single-family homes in July was 6.7 months, down from 10 months for the same period a year ago. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate. The median number of days it took to sell a single-family home was 47.5 days, compared with 50.7 days for the same period a year ago.

California's Top 10 Cities With The Highest Median Home Prices

   1. Manhattan Beach, $1.77 million
   2. Los Gatos, $1.42 million
   3. Mill Valley, $1.37 million
   4. Burlingame, $1.29 million
   5. Calabasas, $1.18 million
   6. Newport Beach, $1.14 million
   7. Cupertino, $1.04 million
   8. Rancho Palos Verdes, $1 million
   9. San Carlos, $975,000
  10. Danville, $930,000

California's Top 6 Cities With The Highest Median Home Price Increases (July 2008 vs July 2007)

1. Los Gatos - 36.6%
2. Mill Valley - 28.6%
3. Manhattan Beach - 9%
4. Berkeley - 8.2%
5. Mountain View - 6.9%
6. Cupertino - 1.1%