Foreclosures in Pleasanton

Foreclosures in Pleasanton:

NODs (notice of default) continued their decline since September 2011 with only 26 being issued in November. This number was 17.86% lower than the previous year at this time and over 34% lower than the previous month. NOS’s (notice of sale) were higher in both instances. The highest foreclosure filings were for loan amounts in the $600k plus range.

All foreclosure inventories have declined as compared to the previous year.

Wrap-up

Declining inventories and notices of default, improving employment, historically low interest rates, increasing demand for rental properties, and healthy sales data for 2011 all bode well for the Pleasanton real estate market as we enter 2012. Let us see how it all plays out as the months unfold.

For additional information please visit www.anju4homes.com

Pleasanton Home Sales Activity

November 2011 home sales were marginally higher in Pleasanton than in 2010, however prices were just a little softer.

Overall 2011 continued to show impressive activity in many price ranges – especially homes priced between $400-700k. The $2m plus home sales were hardest hit with only 8 recorded home sales as compared to 40 in 2007! 

The inventory has fallen below a steady 2 month supply with the average days on market hovering around 71 days.

For more information on homes for sale in Pleasanton please visit www.anju4homes.com

Ruby Hill Home Sales Activity -2011

The State of the Ruby Hill Market

50 homes were sold in Ruby Hill in 2011 – a very healthy level of activity given higher end home sales have declined considerably this year nationwide. The average list price was $361 psf and the average sold was approximately $345 psf. The average days on market stood at just 46 days. This past year, just 20% of the homes that changed hands were short sales or bank owned suggesting that Ruby Hill is in pretty good shape compared to most luxury neighborhoods. In 2010, 59 homes were sold and of these, 12 were either bank owned or short sales. The average sold price was much lower at $310 psf with at least 10 homes being priced at under $300 psf. It is heartening to see that Ruby Hill prices found a more stable footing in 2011 as inventories remained fairly low through the year compared to previous years. As is customary at this time of the year, the inventory was at its lowest point in December with only 11 active homes. Only 4 are priced under $2.5m and the price per square foot is ranging from $304 psf to $544 psf. The larger homes continue to stay on the market for long periods as jumbo loans remain restrictive. Of the 6 pending homes, 4 are short sales.

December end	Total	Bank owned share	Short Sale Share
Active	11	1	1
Pending	6	0	4
Sold to date 2011	50	2	8

for more information on Ruby Hill homes for sale please visit www.RubyHillLiving.com

Foreclosures in Pleasanton, CA

Foreclosures in Pleasanton:

NODs (notice of default) reversed the upward trend and went down to 35 in September as compared to 52 in August. This number was 2.9% higher than the previous year at this time. NOS’s (notice of sale) were down in both instances with more short sales being approved as opposed to banks foreclosing on properties. The number of NOD’s issued to properties priced over $1 million were the highest in September.

Although NODs have increased this year leading to a spike in the pre-foreclosure inventory, properties scheduled for sale and bank owned inventory have fallen significantly.

Real Estate Wrap-up

On the positive side, there has been a spike in rents is leading to a boom in apartment construction nationwide. Alameda County saw a 1.8% increase in rents over the previous quarter and 8.7% over the previous year. Foreign buyers are seeing the opportunities in the real estate market and have bought $82 billion worth of homes in the first quarter of this year (this figure takes longer to calculate) or 8% of total US home sales, up 24% from a year ago. Mortgage interest rates remain affordably low.  The stock market continues to experience great volatility with questions over the international economy remaining. Declining inventories, low mortgage rates, higher rents all bode well for the housing market, but we also need to see some improvement in the unemployment rate and notice of defaults being issued to keep down the foreclosure inventory.

for more information on foreclosure homes for sale in Pleasanton please visit www.anju4homes.com

Pleasanton Home Sales

Pleasanton overview

As in previous months, the trend in total homes sales has continued upward in many price ranges. Home sales in the $400k-799k have increased, outpacing sales in the last 2 years. The $2 million plus range continues to be soft, a segment which has been most severely affected by the jumbo loans and poor economy.

September sales were higher in Pleasanton by 4.4% as compared to last year; and both, the average and median prices were higher than this time last year.

The inventory has remained at a steady 3 month supply for most of the year in Pleasanton. The average days on market increased from the previous month to 74 days.

For more information visit www.anju4homes.com

Ruby Hill Sales activity

Ruby Hill has continued to fare reasonably well this year. At present only two of the 19 active homes are short sales. There is a big spread in the price per square foot – from $315 psf to $544 psf. Of the 9 homes which are currently pending, 4 are short sales. Two homes went under contract in October – a slower month, however not so unusual given that the inventory is so low. Only nine of the 19 active homes are priced under $2 million. About half the active inventory has been on the market for over three months. Of the 42 homes which have closed escrow this year, 7 have been short sales or bank owned, keeping the pressure on pricing.

October end	Total	Bank owned share	Short Sale Share
Active	19	0	2
Pending	9	0	4
Sold to date 2011	42	2	5

For more information visit visit www.anju4homes.com or email anju@rubyhillLiving.com