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

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.

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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.
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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/