This was an in the field interview of Simon Watson and me (David Zabarte) that one of our frequent lenders conducted back in March of 2017. I just got the footage and I thought it contained some useful info for both buyers and sellers with regard to tight inventory markets like we’ve been having for the past number of years here in the San Francisco Bay Area.
We have experienced a “seller’s market” particularly in popular areas like Oakland, Berkeley, and throughout Alameda County, as well as in Orinda, Lafayette, Walnut Creek, Pleasant Hill, Concord, Martinez, and on out to the farthest end of Contra Costa County. The market out in the East Bay has had a lot of people moving into the area from other parts of the SF Bay Area, and from out of state. This isn’t something that I expect will change much in the next couple of years.
Based on the economic research done by economics from the California Association of Realtors® for 2017 (check this link out for some interesting data) we have about 50% of the inventory that we should have for the population growth we currently are experiencing based on past historical numbers. People who own houses have not made the decisions to move at the historical rate that they did in the past which was every 5-7 years… the current numbers are on average about every 10 years is when people have been making their moves. Inventory has been tight partly because of this factor. Factor in the low number of new units that have been built since the recession of 2008 and you can start to see why our inventory is as tight as it is.
We are all paying close attention to what is happening with regard to the possible tax changes, and the interest rate hikes, but it remains to be seen whether these will have little to no impact, or moderate to severe impact on the housing market. I’m betting that there will still be quite a bit of demand for housing in the coming year.
For 3 years running, I’ve been awarded with the Five Star Professional award!
The book that I’m in along with 7 other real estate agents is available online at Amazon.com!
The Annual Historical Data Summary Report tracks trends in California’s housing market from 1968 to present that REALTORS® can use to compare and contrast with their local market statistics. This report provides a historical summary of the CA housing market for those who are interested in analyzing the market in the long term perspective. With this report, REALTORS® can use years-worth of data to gauge how the current market conditions compare to prior years, and help their clients make more informed decisions.
Thanks for all who have made inquiries and took the time to come and see this unique home in Hayward. We got a lot of interest and are now currently under contract. If all goes well with this one we should be closing escrow quickly. For those that didn’t have their offer selected, please keep in mind that often in this market unforeseen things happen during escrow and there may be an opportunity if something like that happens with this one.
I’m very excited about the move that my brokerage will be making in the first week or so of this month which will situate us right next to the Walnut Creek BART station. Very convenient for client meetings and close to freeway and the down town. New address will be:
100 Pringle Ave, Suite 100
Walnut Creek, CA 94596
I just read a fascinating Yelp.com topic which shows why Realtors get a bad rap… I know there are some agents that are a bit smarmy but this takes it to new heights! I wish the thread wasn’t closed to new posts ‘cuz I would have liked to chime in on the discussion. (I don’t charge $200 for showing houses BTW.)
I would love to talk to some more folks who are either thinking about selling their home and are wondering if it is possible do accomplish a move-up in this down market, or any buyer looking to purchase a home now and is ready to take advantage of the record low interest rates. I have helped a bunch of clients get through some tough sales, and I can certainly fill you in on what obstacles are out there and to navigate with the best approach for this current real estate market! Don’t wait! I will even meet up with you at your favorite coffee spot and buy you a cup of coffee if you’d like to meet me in person first in a “neutral” environment so to speak.