Foreclosures in Pleasanton 2013

Foreclosures in Pleasanton:

Foreclosure filings have declined dramatically in Pleasanton compared to the same time last year. NODs (Notice of Default) were down to Zero! NOSs (Notices of Sale) were down to seven.

Foreclosure inventories are also falling. There were a total of 33 bank owned properties in Pleasanton at January end and just 68 bank owned homes that will be put up for sale at some stage:

 

Wrap-up

The market has certainly taken a very positive turn with home prices increasing, homes selling quickly at multiple - in the very high end price ranges also. In fact high-end sales hit an all-time record in California. Dataquick reported that 697 homes priced above $5 million were sold in 2012.  A total of 73 homes sold for $1million or higher in the East Bay in January, up sharply from the 40 sold same time last year – the highest priced home was sold in Pleasanton at $2.8 million! This trend continued in February with two homes sold over $2.9 million in Ruby Hill itself. It looks like the luxury home market is definitely back.

I have been up against multiple offers in the million plus price range for my buyers. The economy seems to be doing well with consumer confidence getting stronger, the stock market has seen some all-time highs recently and the employment picture is improving. Once companies start hiring at a faster pace, the real estate market is sure to break a few more records in the time ahead.

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

This information has been compiled through the MLS data and Foreclosure Radar data.

Ruby Hill Real Estate February 2013

The number of active homes in Ruby Hill at February end remained low, at just 12 – none of these were distressed properties. Eight of these homes are priced over $2 million. Six of the active homes have been on the market for more than 3 months.

There were 13 pending homes with one bank owned and one short sale. Seven of these homes went pending in February - four of them in 4 days or less. The price per square foot has been rising steadily with at least six of the pending homes being priced over $400 per square foot. Demand is very strong at present with a combination of low interest rates and low inventory.

Seven homes closed and February end, none of them distressed. Five of the homes sold for $2 million or less. However, the over $2 million homes are definitely selling faster and close to asking.

February End	Total	Bank owned share	Short Sale Share
Active	12	0	0
Pending	13	1	1
Sold to date 2013	7	0	0

If you are interested in buying or selling a home in Ruby Hill, Pleasanton, please contact Anju@RubyHillLiving.com

Foreclosures in Pleasanton in 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 foreclosure properties: Anju@anju4homes.com or visit www.anju4homes.com

Ruby Hill Home Sales for year ending 2012

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

If you would like more information, or are thinking of buying or selling a home in Ruby Hill please contact Anju@RubyHillLiving.com