Category Archives: contra costa real estate news

Real estate news from Doug Gompertz. Prudential real estate agent serving Contra Costa County, including: Antioch Lafayette, Pleasant Hill, Brentwood, Martinez, Richmond, Clayton Moraga, San Pablo, Concord, Oakley, San Ramon, Danville, Orinda Walnut Creek, El Cerrito, Pinole, Hercules, Pittsburg.

OUR CHRISTMAS WISH

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The holidays always cause me to pause and reflect on Christmases of the past, of loved ones no longer with us, of family too far away to be together for the holiday.

We remember how the holiday was like when we were children, and how it was when we had our family and spent the holiday with our children – In our case Linda with her boys and parents and I with my son and daughter and with my parents, as Linda and I didn’t join our two families together until our children were well into their late teens. We reflect on the holidays we spent in Connecticut, and Lake Tahoe, as well as holidays with our grandson, and holidays with our adult children. Good memories all.

We hope that many of you are also able to spend some time in reflection during the holidays remembering the good times of past holidays.

In addition to thinking about our family, Linda and I also remember all of the friends we have all around this great country of ours, and hope that each and every one of them is in good health, and able to be with family and friends during the holiday season. We thank you for your friendship.

May you and yours have a very Merry Christmas, and a Happy and Health New Year.

Doug and Linda

OUR LOCAL MARKET DEFIES THE NATIONAL TREND

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A colleague in my office was telling me about a client of his who called him and insisted “It’s The Time To Buy!” He had been reading the national media stating that we were in a buyer’s market and felt it was time to cash in. He gave him an address, stated he wanted of offer WAY UNDER asking, and insisted that the seller pay all closing costs. He even wanted to ask for $5,000 for repairs!

My colleague responded to him by saying “Pigs are not flying . . . yet!”

While the national media is certainly proclaiming a buyer’s market, that news has not yet filtered down to our local market.

Historically, a buyer’s market begins when inventory crosses over the 6 month supply mark.

We are currently way under that mark, meaning we are still in a seller’s market. However, that doesn’t mean that sellers get to ask whatever they want for their homes. In reality, prices slipped for a good part of 2011 but in classic supply-vs.-demand form, recent declines in inventory are beginning to push values up once again, and in some cases we are seeing multiple offers.

Average list price is down 9.6% in 2011 vs. 2010. Average sold price is down 3.4% 2011 vs. 2010. Inventory of homes for sale is down 21.8% 2011 vs. 2010 Months supply of inventory is down from 5 months in 2010 to 3.1 months in 2011, a drop of 37.8%.

REAL ESTATE OPPORTUNITIES STILL EXIST

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In my two most recent sales, home #1 was on the market for 14 days and sold for asking price. In sale #2, the home sold in 1 day on the market, for over asking price.

Buyer or seller, it doesn’t matter. There are sellers out there with good properties, priced properly, available to purchase and there are good, qualified buyers out there looking for a property to buy.

CONGRATULATIONS (12/11)

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Congratulations to Esther Scott on the purchase of your new Concord Home.

Congratulations to the 8 brothers and sisters of the Ernst Family Trust on the sale of your family home in Pleasant Hill. I was pleased that we were able to sell it with only one day marketing time. The young couple that bought it is looking forward adding their own family traditions to this wonderful property.