Livermore Valley Sees Fewer Distressed Home Sales

The shadow inventory is giving way to a brightening real estate picture, according to recent reports by the California Association of Realtors. Statewide, the percentage of short sales and foreclosures dropped again, with August short sales holding 23% of home sales, and August foreclosures holding just over 14% of the market.

The total market share of distressed properties in California was 37.8% in August 2012; this is a good improvement over a year ago when distressed properties held 48.3% of the market.

Meanwhile, Alameda County’s distressed sales accounted for 23% of the market during August 2012. This is a drop from 26% during July 2012. A year ago, distressed sales were hovering around 38% of the market. The reduction in distressed sales points to continued housing recovery for Alameda County and Livermore Valley.

Ready for more good news? Lender Processing Services reports that mortgage delinquencies nationwide have been reduced by 30%, since the peak of the housing crisis in 2010. Overall, we have fewer mortgages going bad, while at the same time, the shadow inventory is being successfully absorbed by an inventory-hungry market.

In fact, Livermore Valley home prices are still climbing! August 2012 home sales held a median price of $539,820 in Alameda County. It’s an increase of 11.4% from a year ago, when the median home price was $468,900. We’ve come a long way in a year!

As your professional Livermore Valley real estate agent, I keep my eye on the market trends that affect today’s buyers and sellers. Livermore Valley real estate is continually changing, which is why local experience matters!

If you are buying or selling a home in Livermore, Dublin or Pleasanton, contact me today! I will be happy to provide you with the latest market statistics and give you the professional guidance you can trust.

John Kurtzer
Your Livermore Real Estate Expert
RE/MAX Accord

Livermore Real Estate
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