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for the Latest Listings and Real Estate Information Market Update – November 2006 Which Way Is The Market Moving? It’s
been a tough year for home sellers as we have experienced a real estate
market correction following years of unparalleled increases in home prices.
And correction it was, rather than a bubble bursting as was predicted by much
of the national press. Hopefully, the worst is past, although we won’t know for
sure until we get into 2007. There
are two things that should be uppermost in the minds of people who want to
sell their home. First is how quickly they can expect to achieve a sale and
secondly, what will be the sale price. The
length of time a home takes to sell, assuming it is marketed correctly, is
very much related to the number of homes on the market. There is some good
news here at last. Look at the following table: Numbers of Homes Listed For
Since the beginning of
November, the total has reduced further to 1,234 at November 10th so
this looks like a promising trend. Now on to price. Let
us consider the average sales price of a 4 bedroom single family home from
2,000 to 3,000 square feet, with a 2 car garage. Average home
sales prices - Single Family Homes San Ramon,
So as we can see, the
average home price fell from a peak of $1,154,000 in February to $1,008,000
in October - a drop of over 12%. November’s figures, shown here in the shaded
cells, represent slightly less than one half-month of sales figures but
obviously the signs are very encouraging. This is exactly the kind of pattern
we expect to see at some point but it is a little early to confidently say
that the downward trend has been halted. So how does it look for home sellers? With reducing levels
of inventory and (hopefully) a market decline that is starting to reverse, it
is probably a better time to list your home for sale than any other time over
the past few months. If you are moving to a higher priced home then this is a
good time to sell and buy. If you are down-sizing, you may want to wait a
little longer. What about buyers? Well there is still
plenty of choice out there but if you believe that the November figure above
is a true indicator, then average home sales prices have now bottomed out. If
you are in a position to buy and you can find a home that meets your needs,
buy now. The above information is all based on
figures provided by the Contra Costa / If you are considering selling a home and/or you
would like to get an opinion of your home’s value, contact me anytime without
obligation. I will happily prepare a Comparative Market Analysis for you. I
can be reached on (925) 997-1585 or by email at bernard@bernardgibbons.com ■ What’s Your Home Worth? Thinking of selling? Home prices have increased at a phenomenal rate
over the past few years. To get a Free
Up-To-Date Valuation of your home without any obligation, together
with suggestions for what you can do to maximize its appeal, visit www.BernardGibbons.com or for an immediate response call Restaurant Review
Le
Bistro, Le
Bistro is one of a very small number of French restaurants in the Sylvia
and I booked in for a Friday evening and reservations are essential at the
weekend. It was full. For a starter, we shared a plate of French pâtés, two
different pâtés served with thinly sliced crusty bread with a salad garnish
and a small bowl of gherkins. Chef Jean-Paul makes his own pâtés and they are
absolutely exceptional. We were very impressed. For
a main course, Sylvia ordered the duckling in orange sauce and I had a
butcher’s steak with a Cabernet sauce reduction. Sylvia’s dish was a huge
disappointment as the duckling was obviously undercooked and extremely tough.
My steak was good (although not particularly outstanding) but the sauce was
very intense (almost like a molé, which is great in the right place but not
in a French restaurant in my opinion). We
accompanied our meal with a pleasant enough French Chardonnay and finished
with an excellent warm apple tart which we shared. On
reflection, I would suggest taking your own wine here. They do charge corkage
but the wine list is very small and has few wines that would be familiar to
most diners. It also struck me as a little on the expensive side. I
had been looking forward to dining at Le Bistro for some time. It does get
good reviews and French restaurants are few and far between in the For
more information about Le Bistro, visit www.lebistro.fr.
Reviews such as the one above are included as a service to
introduce people to interesting restaurants in the You can read more restaurant
reviews in the Newsletter Archives at www.BernardGibbons.com
How Will You Decide
Who Will List YOUR Home For As
housing inventory increases and interest rates continue to rise, it is more
important than ever to work with a Realtor® who has the knowledge and
experience to market your home to its fullest potential in order to obtain
the best price for your home. My High
Impact Home Marketing Program is the most comprehensive home marketing system
in real estate. This, combined with my affiliation with Alain Pinel Realtors, the most prestigious
real estate company in the Bay Area, ensures that your home gets the maximum
level of exposure from start to finish. Through multiple channels and
networks I market your home every day to potential homebuyers and real estate
agents who represent buyers in your area. This targeted marketing approach
ensures maximum exposure to potential buyers. Communication
is absolutely critical. I will keep you fully informed regarding the status
of your home sale at all times and do everything in my power to ensure a
smooth, stress-free transaction. Call me any time for a confidential
discussion without any obligation - (925) 997-1585. Bernard
Gibbons
What Happened To Real
Estate? Have
you seen all the stories on the real estate market recently? Not sure what to
believe? Well, the authority on After
four successive years of new records for both statewide sales and the median
price, the existing home market declined sharply in 2006, while the pace of
price appreciation slowed with each passing month. So yes, there has been a
slowdown statewide taking us into more of a normalized real estate market. According
to CAR chief economist Dr. Robert A. Kleinhenz , the general economy appears likely to expand slightly
in 2007 rather than tip into recession. The Fed has held steady with the
federal funds rate, attempting to strike a balance between curbing inflation
and moving the economy forward. It is unlikely that the Fed will cut rates
over the next few months. The good news is that Northern
California, particularly the Bay Area has been called out as an area that
will outpace the general economy, with If
you are thinking about making a real estate move in the foreseeable future,
particularly if you are planning to buy a larger home and stay in the Bay
Area, you may be well advised to do so sooner, while interest rates are still
low, rather than later. When you are buying and selling in the same market,
you should also
focus on the price difference rather than the dollar value of homes. And remember
that when home prices start to rise again next year, the price difference
will increase. If
you list your home for sale now, it may take longer to sell than it would
have a year or so ago, but once you have agreed a sale, you are in a very
strong position. There is a wide selection of homes for sale in most areas
and sellers are willing to make a deal. You could find a bargain in today’s
real estate market! Regardless
of short-term fluctuations, If
you want to get your home sold and focus on making your next move, call
Bernard Gibbons on (925) 997-1585 for a confidential discussion. Thinking Of Selling Your Home? - Plan Now For
Early 2007 If you have been thinking
about selling your home but are hesitant due to the number of homes on the
market, there may be good news on the horizon. As I write this newsletter in
early November, inventory levels have dropped significantly and are likely to
continue doing so as we approach the end of the year owing to many sellers
taking their homes off the market through the Holidays. One result of this is
that we should enter 2007 with much reduced inventory levels. If
I was planning to sell my home next year, I would want to get it on the
market in January or February. Quite apart from having less competition,
interest rates should still be low and there will likely be a greater feeling
of optimism as we enter a new year. Buying activity is almost always at its
highest in the first 4 months of every year. If you plan to sell soon,
call me now on (925) 997-1585 so I can make any suggestions for improvements
you may want to consider to maximize your selling price and for a Comparative
Market Analysis.
FOR
The
Very Best of Twin Creeks South Rarely
does a home such as this come on the market for less than $1 million.
Completed updated and tastefully remodeled over the past few years, this is
undoubtedly one of the nicest homes in Twin Creeks in one of the
neighborhood’s most desirable locations. Every room has been updated and
every piece of interior trim has been replaced together with all of the
doors, windows, electrical
fixtures, floor coverings and much more. Offered
for Call
Making The Most Of My Services Please don’t think that
the only time to contact me is when you are thinking of buying or selling your
home. I can be of considerable help to you in almost anything that is
remotely real estate related:
Call me any time on (925) 997-1585 or
send an email to Bernard@BernardGibbons.com.
I am always happy to hear from you!
Information
To Help You Understand The Value Of Your Biggest
Investment
The 40 most recently Closed Sales in Alamo,
Blackhawk, Danville, San Ramon, Walnut Creek, Lafayette, Moraga and Orinda
(Sorted By City and Sold Price)
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