Home Sales Update for Livermore Valley!

Are you thinking of buying or selling a home during 2012? You’re not alone! Consumer surveys show that more people are gearing up for a real estate transaction this year, especially home buyers. In fact, mortgage applications for home purchases are up by 8.1% in the last week alone. The Mortgage Bankers Association reports that national mortgage application volume is up by 41.9% from a year ago. That’s encouraging news!

Closer to home, there’s a lift in buyer activity in Alameda County. Per the latest statistics from the California Association of Realtors, we saw home prices increase an average of 1.50% from October 2011 to November 2011. We also experienced a reduction in home inventory on the market, which contributes to firmer prices. Overall, Alameda County posted the strongest month-to-month sales volume increase of any market in the San Francisco Bay area.

While that’s all good, we still have distressed properties to deal with, and home price gains are expected to be very gradual this year. No one can be exactly sure how many homes remain in the “shadow inventory” that banks will eventually release to the market.  For this reason, some cities and neighborhoods could fare better than others in price recovery.

On the bright side, California as a whole benefits by strong investor activity, with a portion of it coming from foreign buyers. We’re a popular choice among Canadian purchasers, who seek warm-weather havens in California, Florida and Texas. The presence of these buyers, as well as local investors, should help contain the market impact of distressed properties.

2012 will be a busy year for Livermore Valley real estate! If you are buying or selling a Livermore Valley home, you’ll need professional expertise you can trust. Today’s market conditions are complex and they can change rapidly. As your professional Livermore Valley real estate agent, I have the local market experience you can rely on. I can help you buy or sell real estate in Livermore, Dublin or Pleasanton, so give me a call today

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
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