Foreclosures in Pleasanton - November 2012

 Just 10 NODs (notice of default) were filed in November, as compared to 23 the same time last year. NOS’s (notice of sale) went down to 21 this year as compared to 39 the same time last year. There was 1 NOS and 1 NOD filed in the million plus price range in November in Pleasanton.

Properties scheduled for sale and bank owned inventories were also down as compared to last year. There were a total of 37 bank owned properties in Pleasanton at November end. Banks are collaborating with distressed homeowners to find alternative solutions to foreclosure.

Wrap-up

The real estate market has changed direction in 2012. Inventory declines coupled with increasing buyer confidence led to homes selling quickly, often with multiple offers. Foreclosure activity continued to decline and higher end home sales showed strength as the months passed. Investors played an active part as buyers with the rental market doing well. Low interest rates and an easing in the jumbo loan market contributed significantly to higher sales in all price points. With an improving job market and continuing low interest rates, the real estate market will probably stay on a healthy path in this year to come.

Please contact Anju Bhatia for further information or comments: Anju@RubyHillLiving.com or visit www.RubyHillLiving.com

Pleasanton Home sales in November 2012

Pleasanton November home sales were up by 12.5% as compared to the same time last year and the year before. The market remains price sensitive and the median sale price showed a negligible decline. At current selling levels, the inventory remains at a paltry one month supply.

Inventory has continued to decline since May of this year. More striking is the lack of inventory as compared to the same time last year:

YTD home sales in Pleasanton for the period ending November were 642- approximately 16% higher than the previous year. The bulk of the sales were in the $600-799k range. However the $1-2m range has also done extremely well as compared to previous years.

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Ruby Hill home sales for 2012

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The number of active homes in Ruby Hill slipped to just 3 by December end, with no new short sales or bank owned properties. Although it is typical to see an inventory decline during the holiday season, this year’s supply side has been particularly low. There were 6 pending homes – just 2 homes went contract during the month. This was more a reflection of low inventory as opposed to reduced buyer demand.

2012 showed great improvement in higher end home sales. Ruby Hill fared well with a total of 62 homes closing escrow during the year. The highest price home sold for $3.9 million at $433 psf. Twelve of these 62 homes were sold for over $2 million – considerably more than last year. The jumbo loan comeback has contributed to the improved sales at the higher end. The average psf of all homes sold was $341 psf. The distressed home sales share of the market has declined as compared to last year, which bodes well for future pricing.

December End	Total	Bank owned share	Short Sale Share
Active	3	0	0
Pending	12	0	0
Sold to date 2012	62	5	4