NODs (notice of default) were up by 35% in August as compared to the previous year at this time, and up by 76.9% from the previous month. NOS’s (notice of sale) were down in both instances as banks prefer not to add to their inventory. The highest number of NOS’s was issued to properties priced over $1 million.
Although NODs have increased this year the pre-foreclosure, scheduled for sale and bank owned inventory has fallen.
On the positive side, the East Bay had some welcome news on the job front with approximately 3,700 positions added in July and a total of 9,000 in the nine-county Bay Area. Mortgage interest rates remain at record lows. However, the stock market continues to experience wild swings and the European economy continues to cast a shadow on ours. New home sales remain weak due to the bargains in the resale home inventory
For more information, please visit http://www.anju4homes.com/ or contact anju@anju4homes.com
Saturday, October 8, 2011
Pleasanton home sales in September 2011
Homes in several price points have fared better in sales this year compared to previous years, especially in the $400-499k – over double the number sold last year. The $500-599 and $700-799k have also done better with most other categories being comparable, except for the $2 million plus range, which continues to do poorly.
August sales were higher in Pleasanton by 47% as compared to last year; however both median and average prices were lower by 0.53% and 2.58% respectively.
At current absorption rates, there is a 3 month supply of homes in Pleasanton, which remains at a healthy level with the average days on market being at 49 days (same as last year at this time but lower than 2009).
For more information, please visit www.RubyHillLiving.com or contact anju@rubyhillliving.com
August sales were higher in Pleasanton by 47% as compared to last year; however both median and average prices were lower by 0.53% and 2.58% respectively.
At current absorption rates, there is a 3 month supply of homes in Pleasanton, which remains at a healthy level with the average days on market being at 49 days (same as last year at this time but lower than 2009).
For more information, please visit www.RubyHillLiving.com or contact anju@rubyhillliving.com
Ruby Hill Home Sales for September 2011
With the passing of summer, inventory is beginning to slip – of the 19 active homes one has a contingent offer on it. 8 of these homes have been on the market for a total of over 3 months and 9 are priced over $2 million. Only one home was added to the active inventory this month and it went pending within the month. The single bank owned home which is currently active on the market is priced at $2.34 million (over 8,000 sf, built in 2006).
4 homes went under contract in September – good activity considering the school season had already started. Of the 9 pending properties, 6 are short sales which shows how price sensitive the buyers are these days, as short sales sell generally below market value. Excluding short sales/bank owned properties, the 36 Ruby Hill homes sold this year have ranged from $308 psf to $397 psf.
September end Total Bank owned share Short Sale Share
Active 19 1 0
Pending 9 0 6
Sold to date 2011 40 2 4
For more information, please visit http://www.rubyhillliving.com/ or contact anju@rubyhillliving.com
4 homes went under contract in September – good activity considering the school season had already started. Of the 9 pending properties, 6 are short sales which shows how price sensitive the buyers are these days, as short sales sell generally below market value. Excluding short sales/bank owned properties, the 36 Ruby Hill homes sold this year have ranged from $308 psf to $397 psf.
September end Total Bank owned share Short Sale Share
Active 19 1 0
Pending 9 0 6
Sold to date 2011 40 2 4
For more information, please visit http://www.rubyhillliving.com/ or contact anju@rubyhillliving.com
Friday, September 23, 2011
Foreclosures in Pleasanton:
NODs (notice of default) were up by 13.64% in July over the previous month but down by about the same percentage compared to last year. The NOS’s (notice of sale) were down: by over 35% in June as compared to the previous year and about the same as the previous month. NOS’s (notice of sale) were down by over 41% from the previous year. The highest number of NOS’s were issued to properties priced over $1 million.
For more information please visit www.anju4homes.com or www.RubyHillLiving.com
Pleasanton Home Sale Activity
Pleasanton overview
Homes priced up to $799k have done considerably better in sales as compared to previous years. No doubt raising the conforming loan limits to $729k (due to expire shortly), contributed to this significantly. Homes priced over $2 million continue to fare poorly in sales.
The average days on market fell considerably from the previous month, whilst supply stayed steady. The 200 active homes in Pleasanton represent a 3 month supply at current absorption rates which is healthy. The median price for July was $789k higher than last year’s $785k at this time.
For further details please visit www.anju4homes.com or www.RubyHillLiving.com
Ruby Hill Homes Sales in August
August saw some good activity in Ruby Hill with low inventories in the under $2 million price range.
| August end | Total | Bank owned share | Short Sale Share |
| Active | 24 | 1 | 2 |
| Pending | 13 | 0 | 6 |
| Sold to date 2011 | 36 | 2 | 4 |
8 new homes came on the market in August. 11 of the active inventory homes are priced over $2 million and 10 have been on the market for over 3 months. The question is often asked as what the going psf (price per square foot) rate is in Ruby Hill these days. This varies considerably depending on the quality of the home construction, the yard, the views, short sale/bank owned and so forth. Currently active properties range from $280-$545 psf!
8 homes went under contract in August – very healthy activity, given that higher end homes have not been selling well nationwide. Unfortunately a good chunk of these homes are short sales.
Of the 36 homes that have sold this year, the psf has ranged from $248 (short sale)-$397, averaging at $347 psf. An encouraging point to note is that 24 of these homes were on the market for less than 2 months before receiving an offer!
Contact Anju at www.anju4homes.com or www.RubyHillLiving.com
Pleasanton ranks high for liveability!
Check out this Pleasanton Weekly article:
http://www.pleasantonweekly.com/news/show_story.php?id=7817&e=y
Go Pleasanton!!
http://www.pleasantonweekly.com/news/show_story.php?id=7817&e=y
Go Pleasanton!!
Thursday, August 11, 2011
Foreclosures in Pleasanton
Foreclosures in Pleasanton:
NODs (notice of default) were down by over 35% in June as compared to the previous year and about the same as the previous month. NOS’s (notice of sale) were down by over 41% from the previous year. The highest number of NOS’s were issued to properties priced over $1 million.
With declining NODs, the pre-foreclosure inventory has fallen by over 63% as compared to the previous year –to a total of 89 homes vs. 241 last year. Homes scheduled for sale were up slightly in June (properties that have had a Notice of Trustee Sale filed, but have not yet been sold or had the sale cancelled). Bank owned inventory declined by just over 1 % as compared to last year at the same time.
Visit my website at http://www.anju4homes.com/ for additional information on foreclosure homes in Pleasanton
NODs (notice of default) were down by over 35% in June as compared to the previous year and about the same as the previous month. NOS’s (notice of sale) were down by over 41% from the previous year. The highest number of NOS’s were issued to properties priced over $1 million.
With declining NODs, the pre-foreclosure inventory has fallen by over 63% as compared to the previous year –to a total of 89 homes vs. 241 last year. Homes scheduled for sale were up slightly in June (properties that have had a Notice of Trustee Sale filed, but have not yet been sold or had the sale cancelled). Bank owned inventory declined by just over 1 % as compared to last year at the same time.
Visit my website at http://www.anju4homes.com/ for additional information on foreclosure homes in Pleasanton
Pleasanton home sales for June 2011
Pleasanton overview
The sold listings fared much better in the $400-499k price range in this very price sensitive market where investors are moving in to capitalize on the competitive rental market. All other price ranges fared marginally or significantly worse than the previous year, especially properties priced over $2 million.
Pending home sales slipped from the previous month which is not too unusual for the summer months. However this number was up to 63 this year from last year’s 55 for June.
Contact Anju at http://www.anju4homes.com/ for additional information on homes for sale in Pleasanton.
The sold listings fared much better in the $400-499k price range in this very price sensitive market where investors are moving in to capitalize on the competitive rental market. All other price ranges fared marginally or significantly worse than the previous year, especially properties priced over $2 million.
Pending home sales slipped from the previous month which is not too unusual for the summer months. However this number was up to 63 this year from last year’s 55 for June.
Contact Anju at http://www.anju4homes.com/ for additional information on homes for sale in Pleasanton.
Ruby Hill home sales for July 2011
The State of the Ruby Hill Market
Activity remained steady in July with continued low inventory.
July end Total Bank owned share Short Sale Share
Active 20 1 1
Pending 11 0 5
Sold to date 2011 32 2 4
5 home went under contract in July – good activity for the middle of summer. Only 3 homes were added to the active inventory this month. About half of the 20 active properties have been on the market for over 100 days in total, some having been taken off the market temporarily and made put back on the market. Most of these are priced over $2 million. With the conforming loan limit being adjusted downward starting October, the higher priced homes will continue to feel the pressure. The single bank owned home which is currently active on the market is priced at $2.4 million for over 8,000 s.f and built in 2006. 11 of the 43 homes sold or under contract have been either short sales or foreclosures in Ruby Hill, approximately one quarter!
Contact Anju at http://www.rubyhillliving.com/ for additional information on homes for sale in Ruby Hill
Activity remained steady in July with continued low inventory.
July end Total Bank owned share Short Sale Share
Active 20 1 1
Pending 11 0 5
Sold to date 2011 32 2 4
5 home went under contract in July – good activity for the middle of summer. Only 3 homes were added to the active inventory this month. About half of the 20 active properties have been on the market for over 100 days in total, some having been taken off the market temporarily and made put back on the market. Most of these are priced over $2 million. With the conforming loan limit being adjusted downward starting October, the higher priced homes will continue to feel the pressure. The single bank owned home which is currently active on the market is priced at $2.4 million for over 8,000 s.f and built in 2006. 11 of the 43 homes sold or under contract have been either short sales or foreclosures in Ruby Hill, approximately one quarter!
Contact Anju at http://www.rubyhillliving.com/ for additional information on homes for sale in Ruby Hill
Foreclosures Slow Down in July
Source: Foreclosure Radar
Foreclosure activity slowed again in July, except for a slight increase in Sold to 3rd Party auction sales on the courthouse steps. Notice of Default filings fell by 11.7 percent from June, and 30.6 percent from a year ago. Notice of Trustee Sale filings were down 5.4 percent from June, and have dropped 25.3 percent from July 2010. Cancellations decreased for the third consecutive month, with a 5.3 percent drop compared to June, and were down 32.0 percent year-over-year. Foreclosures going Back to Bank (REO) declined 4.0 percent from June, down for the second month in a row. Foreclosures Sold to 3rd Parties nudged up 1.2 percent from June, and are at the same level as this time last year. Time to Foreclose decreased slightly from June, down less than one percent to 313 days; although year-over-year remained up 19.5 percent. 3rd Party investors continue to resell inventory faster than banks, with the average at 131 days compared to the average Time to Resell for Banks at 235 days.
Contact Anju at http://www.anju4homes.com/ for area specific foreclosure listings in the east bay/Ruby Hill
Friday, July 8, 2011
Foreclosure activity in Alameda County
Short sales on the rise:
Alameda county NOD (notice of default) filings are down 28.1% from a year ago and notices of sale are down 12.16%. According to CitiMortgage the percentage of troubled loans that now go to short sale route have quadrupled (4% to 16%) in the last two years. Bank of America reported they completed over 95,000 short sales in 2010 which more than doubles the number in 2009. BofA also reported that they completed more short sales than it sold previously foreclosed homes every month for the last year and a half. Last month (May), BofA completed roughly 9,000 short sales compared to 7,000 foreclosures sold.
After the filing of a Notice of Trustee Sale, there are three possible outcomes: Cancellation of sale in case of al loan modification,short sale, a filing error, or a legal requirement to re-file the notice after extended postponements; sale by the bank after placing the opening bid for purchase by a 3rd party, typically an investor; or lastly the property fails to sell and becomes part of that bank's REO inventory.
It is far more expensive for a bank to do short sales vs. taking the foreclosure route with mortgages that are behind on payments. As banks continue to deal with effectively closing short sale properties the shadow inventory will continue to decline.
Visit http://www.anju4homes.com/ for foreclosure homes for sale
Alameda county NOD (notice of default) filings are down 28.1% from a year ago and notices of sale are down 12.16%. According to CitiMortgage the percentage of troubled loans that now go to short sale route have quadrupled (4% to 16%) in the last two years. Bank of America reported they completed over 95,000 short sales in 2010 which more than doubles the number in 2009. BofA also reported that they completed more short sales than it sold previously foreclosed homes every month for the last year and a half. Last month (May), BofA completed roughly 9,000 short sales compared to 7,000 foreclosures sold.
After the filing of a Notice of Trustee Sale, there are three possible outcomes: Cancellation of sale in case of al loan modification,short sale, a filing error, or a legal requirement to re-file the notice after extended postponements; sale by the bank after placing the opening bid for purchase by a 3rd party, typically an investor; or lastly the property fails to sell and becomes part of that bank's REO inventory.
It is far more expensive for a bank to do short sales vs. taking the foreclosure route with mortgages that are behind on payments. As banks continue to deal with effectively closing short sale properties the shadow inventory will continue to decline.
Visit http://www.anju4homes.com/ for foreclosure homes for sale
Pleasanton Home Sale Activity
The average price psf has declined from $354 last year to $334 this year same time although the median home price of sold inventory is relatively the same as last year. More homes have sold in just about every price point, except the $2m plus and under $300k! Consider how much higher the sales are for the $400-$499k –more than double to date.
There continues to be an uptick in the pending home sales across Pleasanton.
visit http://www.anju4homes.com/ for more information on Pleasanton homes for sale
There continues to be an uptick in the pending home sales across Pleasanton.
visit http://www.anju4homes.com/ for more information on Pleasanton homes for sale
Tuesday, July 5, 2011
Ruby Hill Homes Sales in June
Ruby Hill continued to see an encouraging amount of activity in June.
June end
Total Bank owned share Short Sale Share
Active 22 0 1
Pending 11 0 3
Sold to date 2010 26 2 4
7 homes closed escrow in June and 6 went under contract – fairly good activity. The homes that went pending were priced anywhere from the low $300’s psf to the highs. It appears there is some upward pressure on pricing as the inventories remained low. Just 5 new homes were added to the inventory. Over half the active properties are priced over $2.5million – a market segment which remains somewhat soft for now.
visit http://www.rubyhillliving.com/ for more information
June end
Total Bank owned share Short Sale Share
Active 22 0 1
Pending 11 0 3
Sold to date 2010 26 2 4
7 homes closed escrow in June and 6 went under contract – fairly good activity. The homes that went pending were priced anywhere from the low $300’s psf to the highs. It appears there is some upward pressure on pricing as the inventories remained low. Just 5 new homes were added to the inventory. Over half the active properties are priced over $2.5million – a market segment which remains somewhat soft for now.
visit http://www.rubyhillliving.com/ for more information
Tuesday, May 17, 2011
Pleasanton Home Sale Activity
Pleasanton overview
The pending home sale trend is up since the start of this year. The average days on market for homes in Pleasanton is around 58 and the median price is $737,000. At current selling rates there appears to be a 3 month supply of homes – still a healthy market.
Sales of Pleasanton homes priced all the way up to $799k seem to be faring better this year but worse in the upper price points compared to last year.
Please contact Anju at http://www.rubyhillliving.com/ for more information
The pending home sale trend is up since the start of this year. The average days on market for homes in Pleasanton is around 58 and the median price is $737,000. At current selling rates there appears to be a 3 month supply of homes – still a healthy market.
Sales of Pleasanton homes priced all the way up to $799k seem to be faring better this year but worse in the upper price points compared to last year.
Please contact Anju at http://www.rubyhillliving.com/ for more information
Ruby Hill Homes Sales in April
Spring came late this year and the Ruby Hill real estate inventory also seems to be lagging! Inventories normally begin to pick up considerably by now. Based on our short history of existence, the inventory appears to be at record lows for this time of the year.
April 2011 Total Bank owned share Short Sale Share
Active 26 0 1
Pending 8 1 3
Sold to date 2011 13 2 1
3 more homes went pending in the month of April. Approximately half the active homes have been on the market for over 2 months or made their way back to the market after being off for a short while. For the well priced homes that show well, the demand seems to be extremely strong. Consider the bank owned home on Torlano which received multiple offers within a few days of being on the market. In fact the same seems to be true in all Pleasanton and surrounding cities. Multiple offers are commonplace again as sellers/short sales/bank owned adopt a more aggressive pricing approach and buyers are beginning to sense that this market is beginning to show signs of strength and they better grab the good deals.
Please contact Anju at http://www.rubyhillliving.com/ for more information
April 2011 Total Bank owned share Short Sale Share
Active 26 0 1
Pending 8 1 3
Sold to date 2011 13 2 1
3 more homes went pending in the month of April. Approximately half the active homes have been on the market for over 2 months or made their way back to the market after being off for a short while. For the well priced homes that show well, the demand seems to be extremely strong. Consider the bank owned home on Torlano which received multiple offers within a few days of being on the market. In fact the same seems to be true in all Pleasanton and surrounding cities. Multiple offers are commonplace again as sellers/short sales/bank owned adopt a more aggressive pricing approach and buyers are beginning to sense that this market is beginning to show signs of strength and they better grab the good deals.
Please contact Anju at http://www.rubyhillliving.com/ for more information
Foreclosure activity in Ruby Hill
This is a great way to stay on top of foreclosure homes in Ruby Hill and all of California:
http://www.foreclosureradar.com/california/alameda-county/94566-foreclosures/listings
Please contact Anju at RubyHillLiving.com for further information on these properties.
http://www.foreclosureradar.com/california/alameda-county/94566-foreclosures/listings
Please contact Anju at RubyHillLiving.com for further information on these properties.
Friday, April 15, 2011
Bay Area Hiring up/Bay area homes - great investment
Bay AREA hiring is UP
Small, medium sized businesses in the Bay Area plan to hire more workers in 2011 according to a recent survey. 31% of employers in the 9 county region intend to increase their workforce, a level of optimism not seen since 2007.
According to Tully, Fortune Magazine’s senior editor at-large, the Bay area is one of the best places to invest in real estate. He predicts greater affordability (with the improving job market, low interest rates and 30% plus declines in home prices) combined with low inventories will lead to higher home prices in the not too distant future.
Please contact Anju Bhatia for further information on any of the above or comments: Anju@RubyHillLiving.com
Small, medium sized businesses in the Bay Area plan to hire more workers in 2011 according to a recent survey. 31% of employers in the 9 county region intend to increase their workforce, a level of optimism not seen since 2007.
According to Tully, Fortune Magazine’s senior editor at-large, the Bay area is one of the best places to invest in real estate. He predicts greater affordability (with the improving job market, low interest rates and 30% plus declines in home prices) combined with low inventories will lead to higher home prices in the not too distant future.
Please contact Anju Bhatia for further information on any of the above or comments: Anju@RubyHillLiving.com
Foreclosure Notices Down
The East Bay saw a decline in foreclosure activity for the month of February after a jump in January! In Alameda county notices of default (NOD) were down 42.2% from a year ago and down 38.4% from the previous month. In the Bay area as a whole, NODs were down by 39.9% from a year ago.
visit http://www.anju4homes.com/
visit http://www.anju4homes.com/
Pleasanton home sales
Homes priced over $900,000 are selling much faster this year than last – compare 22 this year to 12 last year by February end. This could be attributed to the easing of jumbo loans and a greater confidence in the real estate market.
visit http://www.anju4homes.com/
visit http://www.anju4homes.com/
Ruby Hill Home Sales March 2011
The spring market has not brought much of an increase in inventory and selling activity remains promising:
February 28, 2011 Total Bank owned share Short Sale Share
Active 17 0 0
Pending 7 0 3
Sold to date 2011* 11 1 2
*COE 01/01/10 or later
3 homes went pending this past month – on Piemonte, Campinia and Via di Salerno. 2 of these homes were pending within 2 weeks of being on the market. Currently, 6 of the 17 homes on the market are priced over $2.5 million and been on the market for several months. Fortunately none of the active properties are short sales or bank owned. 2 homes closed escrow in March – 1907 Zenato Place and 473 Sangro Court. The only bank owned property which was on the market this year sold for $1.8 million on 1773 Via di Salerno.
visit http://www.rubyhillliving.com/
February 28, 2011 Total Bank owned share Short Sale Share
Active 17 0 0
Pending 7 0 3
Sold to date 2011* 11 1 2
*COE 01/01/10 or later
3 homes went pending this past month – on Piemonte, Campinia and Via di Salerno. 2 of these homes were pending within 2 weeks of being on the market. Currently, 6 of the 17 homes on the market are priced over $2.5 million and been on the market for several months. Fortunately none of the active properties are short sales or bank owned. 2 homes closed escrow in March – 1907 Zenato Place and 473 Sangro Court. The only bank owned property which was on the market this year sold for $1.8 million on 1773 Via di Salerno.
visit http://www.rubyhillliving.com/
Friday, March 11, 2011
Pending Home sales ease in January
Pending home sales eased moderately in January for the second straight month, but remain 20.6 percent above the cyclical low last June, according to the National Association of Realtors®.The Pending Home Sales Index,* a forward-looking indicator, declined 2.8 percent to 88.9 based on contracts signed in January from a downwardly revised 91.5 in December. The index is 1.5 percent below the 90.3 level in January 2010 when a tax credit stimulus was in place. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.
The pace of January existing-home sales actually rose by 2.7% from December to 5.36 million, slightly higher than NAR’s annual forecast for 2011. If contract activity stays on its present course, there should be an 8 percent increase in total existing-home sales this year. Foreclosures accounted for 37% of the January home sales, keeping pressure on pricing which sank to their lowest levels in nine years.
“According to Yun, chief economist of National Association of Realtors, “The broad fundamentals for a housing recovery are developing. He said “Job growth, high housing affordability and rising apartment rent are conducive to bringing more buyers into the market. Some buyers may be looking to real estate as a hedge against potential future inflation.” Whilst investors are becoming increasingly active in the housing market, traditional buyers continue to exercise caution due to unknowns such as the shadow inventory, increasing number of mortgage defaults and the pace of job growth. This pent up demand will definitely be helpful in strengthening the housing market once some of the uncertainty begins to fade.
Please contact Anju Bhatia http://www.rubyhillliving.com/ if you are considering purchasing a home in the Pleasanton, Dublin, Livermore or San Ramon areas.
The pace of January existing-home sales actually rose by 2.7% from December to 5.36 million, slightly higher than NAR’s annual forecast for 2011. If contract activity stays on its present course, there should be an 8 percent increase in total existing-home sales this year. Foreclosures accounted for 37% of the January home sales, keeping pressure on pricing which sank to their lowest levels in nine years.
“According to Yun, chief economist of National Association of Realtors, “The broad fundamentals for a housing recovery are developing. He said “Job growth, high housing affordability and rising apartment rent are conducive to bringing more buyers into the market. Some buyers may be looking to real estate as a hedge against potential future inflation.” Whilst investors are becoming increasingly active in the housing market, traditional buyers continue to exercise caution due to unknowns such as the shadow inventory, increasing number of mortgage defaults and the pace of job growth. This pent up demand will definitely be helpful in strengthening the housing market once some of the uncertainty begins to fade.
Please contact Anju Bhatia http://www.rubyhillliving.com/ if you are considering purchasing a home in the Pleasanton, Dublin, Livermore or San Ramon areas.
Bay Area Foreclosures up from a year ago
January saw a big jump in the foreclosure notices in the Bay Area – up by 40% compared to a year ago, as banks move past the self imposed moratorium. A total of 2,615 homeowners in Alameda, Contra Costa, Marin , San Mateo and San Francisco received a notice of default in January. That is an 8.3% increase from December 2010. In Alameda alone, the notices of default went up by 30.1% as compared to January last year. Several banks have improved their short sales processing to accommodate the likely increase of such sales, which is being reflected in a higher number of successful transactions.
On a positive note, the bay area added 1,800 jobs in December even whilst California’s unemployment rate worsened to 12.5% from 12.4% in November.
Contact Anju Bhatia for more information on foreclosure homes in the Pleasanton, Livermore, Dublin or San Ramon areas or visit http://www.anju4homes.com/
On a positive note, the bay area added 1,800 jobs in December even whilst California’s unemployment rate worsened to 12.5% from 12.4% in November.
Contact Anju Bhatia for more information on foreclosure homes in the Pleasanton, Livermore, Dublin or San Ramon areas or visit http://www.anju4homes.com/
Pleasanton Home Sales for Period ending February 2011
Pleasanton overview
Year to date sales for Pleasanton home sales continue to compare well to last year in all price points. The average list price is up by 15.42% compared to last year to $960,390, and the average sale price is up by 13.52%. January end showed a 3 month supply of homes as current rates of absorption, which is continues to be encouraging.
Contact Anju Bhatia through http://www.anju4homes.com/ for your if you looking for a home to purchase in Pleasanton, Dublin, San Ramon or Livermore
Year to date sales for Pleasanton home sales continue to compare well to last year in all price points. The average list price is up by 15.42% compared to last year to $960,390, and the average sale price is up by 13.52%. January end showed a 3 month supply of homes as current rates of absorption, which is continues to be encouraging.
Contact Anju Bhatia through http://www.anju4homes.com/ for your if you looking for a home to purchase in Pleasanton, Dublin, San Ramon or Livermore
Ruby Hill Home Sales for period end February 2011
Inventories remain low and activity remains encouraging. A couple more short sales have made their way to the active inventory:
February 28, 2011 Total Bank owned share Short Sale Share
Active 15 0 2
Pending 7 1 1
Sold to date 2011* 8 0 2
*COE 01/01/10 or later
3 more homes went pending this past month – very soon after coming on the market, ranging from 12 to 42 days. It is interesting to note that more than half the active inventory comprises of homes that have been on the market for rather a long time or have come back on the market after being taken off for a period. Fresh inventory which is well priced was picked up quickly!
visit http://www.rubyhillliving.com/ for information on Ruby Hill homes for sale or if you need a realtor for your next Pleasanton, San Ramon, Dublin, Livermore home purchase
February 28, 2011 Total Bank owned share Short Sale Share
Active 15 0 2
Pending 7 1 1
Sold to date 2011* 8 0 2
*COE 01/01/10 or later
3 more homes went pending this past month – very soon after coming on the market, ranging from 12 to 42 days. It is interesting to note that more than half the active inventory comprises of homes that have been on the market for rather a long time or have come back on the market after being taken off for a period. Fresh inventory which is well priced was picked up quickly!
visit http://www.rubyhillliving.com/ for information on Ruby Hill homes for sale or if you need a realtor for your next Pleasanton, San Ramon, Dublin, Livermore home purchase
Saturday, February 19, 2011
Home Construction up in January
Housing starts saw the biggest jump in 20 months nationwide, largely due to apartment construction. Construction of single family homes declined due to continued weak and unpredictable demand.
Visit http://www.anju4homes.com/ to begin your home search in the east bay.
Visit http://www.anju4homes.com/ to begin your home search in the east bay.
January home sales up, prices down
As compared to January 2010, home sales were up by 3.5% in Alameda county and by 1.3% in Contra Costa County, but prices went down by 9.6% and 6.7% respectively. Foreclosure sales as a percentage of total sales were 32.7% (36 % last year) in Alameda County and 44.9% (49.7% last year) in Contra Costa County.
Pending home sales were up by 34% in January this year as compared to last year in both counties, which is a very encouraging sign for the housing market.
Pending home sales were up by 34% in January this year as compared to last year in both counties, which is a very encouraging sign for the housing market.
Saturday, February 12, 2011
Bay Area Foreclosure Notices Up in January
There was a 40% spike in the foreclosure notices sent out in January over last year in the Bay Area. In Alameda County the increase was 30.1% over last year. According to RealtyTrac a total of 2,615 homes received a notice of default in January. Nationwide there was a decline of 27% from a year ago - the 12th consecutive year on year decline. Delinquency rates in California seem to be bucking the trend.
In Contra Costa the NOD's for January were up by 51.3% over last year!
Visit http://www.anju4homes.com/ for a list of foreclosure/short sale homes.
In Contra Costa the NOD's for January were up by 51.3% over last year!
Visit http://www.anju4homes.com/ for a list of foreclosure/short sale homes.
Monday, February 7, 2011
Pleasanton home Sales overview
Pleasanton home sales in the $1m - $1.5m were close to the peak years of 2006/7 – very encouraging indeed. All other price ranges fared quite well also, although the total number homes priced under $700k sold in 2010 were lower than the previous year. Homes priced over $700k all sold in greater numbers. Inventory levels in December 2010 remained at a 3 month supply – healthy level.
Go to http://www.anju4homes.com/ to start your home search in Pleasanton
Go to http://www.anju4homes.com/ to start your home search in Pleasanton
Ruby Hill Home Sales in January 2011
Low inventories and a shaking out of the bank owned and short sales should bode well for Ruby Hill home sales and prices this year:
January 31, 2011 Total Bank owned share Short Sale Share
Active 11 0 0
Pending 7 1 0
Sold to date 2011* 5 0 2
*COE 01/01/10 or later
Both of the short sale homes which closed escrow recently came on the market last year. 1026 Pineto sold for $2.95 million – it has 9,900 square feet of living space and a 35,000 square foot lot . The other short sale home on 3365 East Ruby Hill Drive sold for $3 million. Built by Doble and Son, it has 9,100 square feet of living space on a 27,000 square foot lot. The only bank owned home which was on the market since last year went pending – located at 1773 Via di Salerno! It looks like the short sales and bank owned homes are now gone from the inventory and will hopefully stay away!
January 31, 2011 Total Bank owned share Short Sale Share
Active 11 0 0
Pending 7 1 0
Sold to date 2011* 5 0 2
*COE 01/01/10 or later
Both of the short sale homes which closed escrow recently came on the market last year. 1026 Pineto sold for $2.95 million – it has 9,900 square feet of living space and a 35,000 square foot lot . The other short sale home on 3365 East Ruby Hill Drive sold for $3 million. Built by Doble and Son, it has 9,100 square feet of living space on a 27,000 square foot lot. The only bank owned home which was on the market since last year went pending – located at 1773 Via di Salerno! It looks like the short sales and bank owned homes are now gone from the inventory and will hopefully stay away!
Tuesday, February 1, 2011
Taxes Impacting Real Estate
Capital Gain Taxes – The Same for Now
Toward the end of 2010, many people wondered what would happen to capital gain tax rates on January 1, 2011.
Some even scrambled to close the sale of property before the end of the year. As it turned out, Congress extended the capital gain rates in mid December; at least for two years. The following is a brief summary of portions of the Tax Relief, Unemployment Insurance Reauthorization and Jobs Creation Act of 2010 (not surprisingly referred to as “the extension of the Bush Era Tax Cuts”) which are likely to impact real estate investors.
• Capital Gain and Dividend Rates – Current rates were extended for two-years for all taxpayers with a maximum rate of 15% for both.
• Personal Tax Rates – Current rates were extended for two-years for all taxpayers with the top rate
remaining at 35%.
• Social Security Tax – The employee tax rate of 6.2% on the first $106,800 of wages drops to 4.2% in 2011.
• Alternative Minimum Tax – Current exemptions were extended for all taxpayers for two-years.
• Estate Tax – An exclusion amount of $5 million and a tax rate of 35% for amounts in excess of the
exclusion was established for two-years; the exclusion will become indexed beginning in 2012.
• Gift Tax – Like the Estate Tax, a Gift Tax exclusion amount of $5 million and a tax rate of 35% for amounts in excess of the exclusion was established for two-years, with the exclusion being indexed
beginning in 2012.
• Other Extensions – The $1000 child credit; an additional standard deduction for real-estate taxes;
extension of 15-year cost recovery for certain leasehold improvements, restaurant buildings and qualified retail improvements (through 2011); and the extension of various energy credits (through 2011).
Although the legislation provides some certainty for two years, we may find ourselves questioning our future rates again in 2012.
This information is provided by James Callejas of Investment Property Exchange Services. For all your real estate needs please contact Anju Bhatia at http://www.anju4homes.com/
Toward the end of 2010, many people wondered what would happen to capital gain tax rates on January 1, 2011.
Some even scrambled to close the sale of property before the end of the year. As it turned out, Congress extended the capital gain rates in mid December; at least for two years. The following is a brief summary of portions of the Tax Relief, Unemployment Insurance Reauthorization and Jobs Creation Act of 2010 (not surprisingly referred to as “the extension of the Bush Era Tax Cuts”) which are likely to impact real estate investors.
• Capital Gain and Dividend Rates – Current rates were extended for two-years for all taxpayers with a maximum rate of 15% for both.
• Personal Tax Rates – Current rates were extended for two-years for all taxpayers with the top rate
remaining at 35%.
• Social Security Tax – The employee tax rate of 6.2% on the first $106,800 of wages drops to 4.2% in 2011.
• Alternative Minimum Tax – Current exemptions were extended for all taxpayers for two-years.
• Estate Tax – An exclusion amount of $5 million and a tax rate of 35% for amounts in excess of the
exclusion was established for two-years; the exclusion will become indexed beginning in 2012.
• Gift Tax – Like the Estate Tax, a Gift Tax exclusion amount of $5 million and a tax rate of 35% for amounts in excess of the exclusion was established for two-years, with the exclusion being indexed
beginning in 2012.
• Other Extensions – The $1000 child credit; an additional standard deduction for real-estate taxes;
extension of 15-year cost recovery for certain leasehold improvements, restaurant buildings and qualified retail improvements (through 2011); and the extension of various energy credits (through 2011).
Although the legislation provides some certainty for two years, we may find ourselves questioning our future rates again in 2012.
This information is provided by James Callejas of Investment Property Exchange Services. For all your real estate needs please contact Anju Bhatia at http://www.anju4homes.com/
Saturday, January 22, 2011
East Bay Home Sales Rise in December
Home sales increased by a whopping 17.5% in December 2010 over November in the 9 county Bay Area. Prices continued to feel the pressure and were down 1.3% from the previous year and month with the median price being $375,000. Lower end home sales dominated the over 7,000 homes that changed hands. Some of the increase in sales activity is attributed to the recent increase in interest rates, pushing on the fence buyers into action.
In the Alameda county home sales dropped 2.3% from a year ago and the median price fell by 3.6% to $347,000.
Foreclosure home sales in the Bay Area accounted for just over 30% in December. Foreclosure sales have been continuing to increase as a percentage of total sales in the recent months.
In the Alameda county home sales dropped 2.3% from a year ago and the median price fell by 3.6% to $347,000.
Foreclosure home sales in the Bay Area accounted for just over 30% in December. Foreclosure sales have been continuing to increase as a percentage of total sales in the recent months.
Friday, January 21, 2011
Germano house in Ruby Hill raided
The recently sold home on 1371 Germano was raided by Homeland Security in connection with a federal customs and immimgration criminal investigation. The bank owned home sold in early December for $1.8 million. It is almost 6,400 sf and on the golf course with 5 bedrooms. It had previously sold for $2.8m. For further details Click here.
If you would like to receive information on other bank owned properties in Ruby Hill, please email me at Anju@RubyHillLiving.com
If you would like to receive information on other bank owned properties in Ruby Hill, please email me at Anju@RubyHillLiving.com
Monday, January 10, 2011
Apartment Construction in East Bay takes off
According to the California Building Industry Association, multi-family housing did well in November 2010 as compared to a year ago, jumping 207 percent. Single family home starts fell 61 percent from last year and 37 percent from October. Builders are clearly anticipating an increase in demand for rental homes in the East Bay.
Visit http://www.rubyhillliving.com/ for information on East bay homes
Visit http://www.rubyhillliving.com/ for information on East bay homes
Monday, January 3, 2011
Foreclosures/Default Activity and Economy
Default Activity
In the East Bay, about 171,000 households or 31% of all mortgaged homes were underwater in the 3rd quarter of 2010 – a decline of 1.4% as compared to the previous quarter. Much of this decline was due to increased foreclosure action on the part of the banks as opposed to increasing home prices. The Federal Reserve Bank has estimated that one third of those who are underwater will return to positive equity within years by paying down debt. That still leaves a large chunk of homeowners who could suffer foreclosure action in the months to come.
Overall Economy
The end of 2010 saw a number of encouraging signs for the economy with respect to layoffs, factory production and consumer spending. The latter should continue to improve with the Congress approved tax cuts putting a little more money in the hands of consumers. Economists are predicting a 4% growth in the US economy which should help lower the unemployment rate. Homeowners who fall behind on their mortgage payments and subsequently get foreclosed upon are often unemployed. The market has seen an increase in mortgage interest rates and the expectation is that these will continue to rise at a moderate pace in the year ahead.
Most predictions suggest that the housing market will begin stabilize in the second half of 2011.
For more information visit http://www.rubyhillliving.com/
In the East Bay, about 171,000 households or 31% of all mortgaged homes were underwater in the 3rd quarter of 2010 – a decline of 1.4% as compared to the previous quarter. Much of this decline was due to increased foreclosure action on the part of the banks as opposed to increasing home prices. The Federal Reserve Bank has estimated that one third of those who are underwater will return to positive equity within years by paying down debt. That still leaves a large chunk of homeowners who could suffer foreclosure action in the months to come.
Overall Economy
The end of 2010 saw a number of encouraging signs for the economy with respect to layoffs, factory production and consumer spending. The latter should continue to improve with the Congress approved tax cuts putting a little more money in the hands of consumers. Economists are predicting a 4% growth in the US economy which should help lower the unemployment rate. Homeowners who fall behind on their mortgage payments and subsequently get foreclosed upon are often unemployed. The market has seen an increase in mortgage interest rates and the expectation is that these will continue to rise at a moderate pace in the year ahead.
Most predictions suggest that the housing market will begin stabilize in the second half of 2011.
For more information visit http://www.rubyhillliving.com/
Pleasanton Home Sales for Period ending November 2010
In 2010 Pleasanton saw a big increase in sales of homes priced under $700,000. Looking at 2006 when the market was at near peak in housing sales activity, a total of 81 homes priced under $700k were sold as compared to 226 in the first eleven months 2010 (upto November 30th). In all price ranges, 2010 fared much better than 2009 including homes priced over $1million - a total of 141 homes were sold this year as compared to 101 last year. Increasing home sales and low inventories (only a 3 month supply in the last few months) should bode well for prices in the months ahead, to overcome the declines in 2010.
For more information visit http://www.rubyhillliving.com/
Ruby Hill 2010 Home Sales Fare Well
The highest priced Ruby Hill home sold in 2010 went for $5.5 million! This gorgeous home on Germano with over 12,000 square feet of living space, built on a lot with over 54,000 square feet closed in late December - showing once again, Ruby Hill is a place that can command record prices even in this slow economy. In fact 24 of the 66 homes which were sold or went pending this year were priced over $2million. Not too shabby by any means.
December 31, 2010 Total Bank owned share Short Sale Share
Active 11 1 0
Pending 7 0 3
Sold to date 2010* 59 4 9
*COE 01/01/10 or later
Inventories remained lower than previous years as some sellers chose to rent their homes rather than sell. Over 10 homes were rented in 2010 – currently there are about 3 homes available for rental. 1773 Via di Salerno remains the only bank owned property among the 11 active properties in Ruby Hill. The average price of the 59 sold homes was approximately $1.7m. at $334 per square foot and 60 days on market on average. Last year a total of 43 homes sold/went pending – a big improvement in total sales even though prices fell.
December 31, 2010 Total Bank owned share Short Sale Share
Active 11 1 0
Pending 7 0 3
Sold to date 2010* 59 4 9
*COE 01/01/10 or later
Inventories remained lower than previous years as some sellers chose to rent their homes rather than sell. Over 10 homes were rented in 2010 – currently there are about 3 homes available for rental. 1773 Via di Salerno remains the only bank owned property among the 11 active properties in Ruby Hill. The average price of the 59 sold homes was approximately $1.7m. at $334 per square foot and 60 days on market on average. Last year a total of 43 homes sold/went pending – a big improvement in total sales even though prices fell.
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