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.

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/

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

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