Real Estate Recap

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As real estate agents we are frequently asked “how’s business” and “what do you think will happen this year”?

Let’s start with the former: How’s business?  In a word fantastic!  We are currently in a sellers market.  Inventory throughout Alameda and Contra Costa counties are extremely low (active homes for sale as of 1/25/13).

  • San Leandro – 38
  • Castro Valley – 28
  • San Lorenzo – 11
  • Dublin – 25
  • Pleasanton – 33
  • Livermore – 53
  • Oakland – 265
  • San Ramon – 27
  • Danville – 44
  • Alameda – 21

Extremely low inventory coupled with historically low interest rates has brought out every available buyer.  In most cases we are seeing multiple offers on properties frequently coming in above the asking price.  The most common tale these days from buyers is submitting offer after offer and losing out time and time again.  As a result, those buyers are getting very aggressive with their offers helping spur the market.  Buyers are pulling out all the stops in order to get their offer accepted.

I previously said the current market is fantastic, but that answer probably depends on your point of view.  For a buyer in this market it is very frustrating.  Buyers are feeling like they can’t do enough to get their offer accepted.  Some are getting so discouraged that they’ve put their search on hold until the market “cools off”.  The big question, what’s a head of us in 2013?

Most economists feel the market will continue to increase throughout 2013.  We have seen a steady increase in home prices throughout 2012 and the pattern is continuing in 2013.  Speaking to appraisers they too are seeing the market increase and haven’t seen issues recently with appraisals.  In most cases there have been enough comps to support the surge in prices.  Our take is that the market will increase as long as rates and inventory remain low.  When unemployment rates decline we may see interest rates start to increase. That is the bench market we’re watching, unemployment rates.

So what’s a buyer and seller to do?  If you’re a homeowner thinking about selling, do it, it’s a great time.  If you’re a buyer, hang in there, good things come those that wait.

 

Category : Blog

About Us

Since 1970 Rinetti & Co. Realtors has been selling residential and commercial real estate throughout the greater East Bay. We are boutique real estate company with a single focus, exceptional customer service from start to finish. Rinetti & Co. Realtors has the experience and practical knowledge to adapt to changing market conditions while providing our clients expert advise when buying or selling a home. If you’re considering making a move please contact us and see the difference Rinetti & Co. Realtors can make for you.

Testimonials

The only realtors in San Leandro...You will not meet two finer or more ethical realtors. The best! - Gary S.

Rinetti & Co. turned out to be the perfect place for me to do business...I would not hesitate to recommend their services to anyone buying or selling property. - Mary K.

...As I am sure you are aware, a house is stucco, wood and nails, but a home is where a lifetime of memories are created. Our mother was very proud of her home, it meant so much to her.

- Trent B.

...Thanks for your patience, guidance & professionalism, you made this experience a great one that we will never forget...We can’t thank you enough, thanks a bunch!!! - Rocio R.

If anyone in the East Bay is looking to buy or sell a home, please consider my friends and agents Tianne Rinetti-Vittoria and Perry Vittoria! They helped us buy our house and did an amazing job! They go above and beyond.”

- Chris S.


San Leandro Office
1103 MacArthur Boulevard
San Leandro, CA 94577

(510) 568-6171

Pleasanton Office
231 Old Bernal Avenue, Suite 5B
Pleasanton, CA 94566
(925) 364-5013

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