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Concord Real Estate News (December 1, 2017) | Dana Estates Real Estate

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Concord Real Estate News (December 1, 2017) | Dana Estates Real Estate

Here are some of the latest Concord real estate news headlines. East bay apartment construction increases but delays have slowed things down. Bart is considering partnering with the city to turn a 9 acre piece of land it owns into new affordable rental housing. Finally, check out where Bay Area rents jumped the most over this last year.

East Bay apartment construction surges, but delays also common

Bay Area apartment construction has shifted to the East Bay from Silicon Valley, but delays have slowed the opening of new rentals in the sizzling market, according to a new study.

Analysts estimate about 20 percent of the new Bay Area apartments have been delayed, which could drive up construction and ultimately rental prices. Real estate analysts at Axiometrics figure at least 1,200 units expected to open this year will not reach the market until 2018. Read More…

BART, Concord eye vacant site for affordable housing

CONCORD — BART may partner with the city to bring much-needed affordable rental housing to a vacant property a few blocks from the downtown station.

The transit agency owns a 9-acre parcel between Monument Boulevard and San Miguel Road that sits just south of the Concord skate park. Although a canal runs through the property, city staffers believe at least part of it could be developed. Read More… 

Here’s where Bay Area rents jumped the most over the past year

Online real estate company Zumper’s snapshot of the region’s real estate market reveals some surprising statistics about the areas seeing the highest rent increases. Read More…

Having a knowledgeable and experienced real estate broker on your side helps protect your interests and insure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.

To reach Peter Maclennan please call 925.385.8798 or email us at peter@maclennaninvestments.com.

Search for the newest listings in Concord by map (click the map below):

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Concord CA Real Estate Map Search

Concord Real Estate News (November 16, 2017) | Dana Estates Real Estate

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Concord Real Estate News (November 16, 2017)

Concord Real Estate News (November 16, 2017)

Is there such a thing as Black Friday when it comes to real estate? Apparently not around here! Rather, the rising prices of the East Bay mirror the rest of the Bay Are as a whole. In Concord, a former councilman resigns from the Concord Naval Weapons Station Committee. Finally, for those looking for a house under half a million dollars, it’s still possible to buy one in the Bay Area. Here are some of the latest Concord real estate news headlines.

Is there a Black Friday for the Bay Area housing market? Take a guess.

Bay Area homebuyers beware. Among the nation’s 100 largest housing markets, San Francisco, San Jose and Oakland – in that order – are the least likely places to find a price cut on a home for sale.

That’s according to a new study by Trulia, which tried to figure out if a Black Friday phenomenon exists in the U.S. housing market. Read More…

Housing crisis: East Bay sales and price trends mirror the Bay Area as a whole

The supply of single-family homes is flat or shrinking in dozens of East Bay cities. But buyer demand keeps driving sales and prices up, a new report shows.

The numbers for October, compiled by the Bay East Association of Realtors, show how the region is mirroring trends that are playing out across the Bay Area. Read More…

In-depth: Where can you find houses for under $500,000 in the Bay Area?

CONTRA COSTA COUNTY (KRON) — We are all accustomed to hearing about homes costing $1 million or more.

But is it still possible to find properties for less than half-a-million dollars here in the Bay Area?

Believe it or not, you can still find a home that cost under $500,000 in the Bay Area. However, real estate experts say there are a few things you need to know. Read More…

Former councilman resigns from Concord Naval Weapons Station committee

CONCORD — Former councilman Dan Helix abruptly resigned last week from the committee advising the city on plans for the first phase of development of the Concord Naval Weapons Station. Read More…

Having a knowledgeable and experienced real estate broker on your side helps protect your interests and insure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.

To reach Peter Maclennan please call 925.385.8798 or email us at peter@maclennaninvestments.com.

Search for the newest listings in Concord by map (click the map below):

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Dana Estates Real Estate | Low Inventory Causes Home Prices to Maintain Fast Growth

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Low Inventory Causes Home Prices to Maintain Fast Growth | MyKCM

Dana Estates Real Estate | Low Inventory Causes Home Prices to Maintain Fast Growth

The real estate market in Concord, California is still very active. Reasonable sellers are receiving offers quickly and buyer confidence remains strong. There are multiple price points and types of houses available in Concord, CA.

Particularly around the Dana Estates neighborhood 94519 zip code, homes are in demand. The neighborhood provides convenient access to Highway 4 and to downtown Concord. It is also about equal distance from both the Concord BART station and the North Concord BART station.

Purchasing a home is one of the largest financial decisions that a family can make. Because of the size of the transaction, there are many complicated decisions that surround the purchase of a home.

Today we are going to talk about: Low Inventory and How That is Causing Prices to Maintain Fast Growth

The National Association of Realtors (NAR) released their latest Quarterly Metro Home Price Report last week. The report revealed that severely lacking inventory across the country drained sales growth and kept home prices rising at a steady clip in nearly all metro areas. Home prices rose 5.3% over the last quarter across all metros.

Lawrence Yun, Chief Economist at NAR, discussed the impact of low inventory on buyers in the report:

“Unfortunately, the pace of new listings were unable to replace what was quickly sold. Home shoppers had little to choose from, and many had to outbid others in order to close on a home. The end result was a slowdown in sales from earlier in the year, steadfast price growth and weakening affordability conditions.”

What this means to sellers

Rising prices are a homeowner’s best friend. As reported by the Washington Post in a recent article post:

“The rise in median sales prices has made current homeowners much more willing to sell their home, and that willingness is one of the main drivers behind the inventory that does make it on to the market. While it hasn’t been enough to meet demand, it has made the situation much better, compared with even three or four years ago.”

What this means to buyers

In a market where prices are rising, buyers should take into account the cost of waiting. Obviously, they will pay more for the same house later this year or next year. However, as Construction Dive reported, the amount of cash needed to purchase that home will also increase.

“These factors have created a situation where the market keeps moving the goalposts in terms of the down payment necessary for first-time homebuyers to get into a home.”

Bottom Line 

If you’re thinking of selling and moving down, waiting might make sense. If you are a first-time buyer or a seller thinking of moving up, waiting probably doesn’t make sense.

Source… KCM Peter Maclennan Blog

Having a knowledgeable and experienced real estate broker on your side helps protect your interests and insure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.

To reach us please call 925.385.8798 or email us at peter@maclennaninvestments.com.

Search for the newest real estate listings in Concord, CA by map (click the map below):

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Concord CA Real Estate Map Search

Concord Real Estate News (November 10, 2017) | Dana Estates Real Estate

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Concord Real Estate News

According to officials, GOP tax proposal would gut affordable housing. When it come to affordable housing, $500,000 homes are becoming rarer while bay area rents continue to rise. Plus, Concord, CA is looking for additional applicants for the Rent Review Panel.

Bay area rents are still rising

“A new report dissecting rent trends across the Bay Area is filled with bad news for tenants. With a handful of exceptions, today’s rents are higher in most of the region’s cities than they were a year ago.”

Concord is Looking for Additional Applicants for the Rent Review Panel

CONCORD — The city seeks additional applicants for the landlord seat and to serve as the alternate tenant member on the panel that hears disputes over proposed rent increases.

GOP tax proposal would gut affordable housing, state officials say

“SACRAMENTO — Less than two months after California passed hard-fought bills to build more subsidized rental housing for the poor, affordable-housing advocates are reeling from a federal tax-reform proposal that could grind that momentum to a halt and wipe out an existing program that created roughly 20,000 such homes last year.”

$500,000 Bay Area homes are becoming an endangered species

The Bay Area’s housing affordability crisis is so widely acknowledged that it sometimes can seem like the new normal. But this graph – showing the declining share of single-family homes that sell for $500,000 or less – is a stark reminder of just how dire the situation has become…

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Having a knowledgeable and experienced real estate broker on your side helps protect your interests and insure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.

To reach us please call 925.385.8798 or email us at peter@maclennaninvestments.com.

Search for the newest listings in Concord by map (click the map below):

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Concord CA Real Estate Map Search

Dana Estates Real Estate | Renting or Buying…Either Way, You’re Paying Someone’s Mortgage

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Renting or Buying…Either Way, You're Paying Someone's Mortgage | Dana Estates Real Estate

Dana Estates Real Estate | Renting or Buying…Either Way, You’re Paying Someone’s Mortgage

The real estate market in Concord, California is still very active. Reasonable sellers are receiving offers quickly and buyer confidence remains strong. There are multiple price points and types of houses available in Concord, CA.

Particularly around the Dana Estates neighborhood 94519 zip code, homes are in demand. The neighborhood provides convenient access to Highway 4 and to downtown Concord. It is also about equal distance from both the Concord BART station and the North Concord BART station.

Purchasing a home is one of the largest financial decisions that a family can make. Because of the size of the transaction, there are many complicated decisions that surround the purchase of a home.

Today we are going to talk about: Renting or Buying…Either Way, You’re Paying Someone’s Mortgage.

There are some people who have not purchased homes yet because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich,”

“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”

Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgage vs. paying rent:

“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”

As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person with that equity.

Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 3.94% last week.

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.

Source… KCM Peter Maclennan Blog

Having a knowledgeable and experienced real estate broker on your side helps protect your interests and insure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.

To reach us please call 925.385.8798 or email us at peter@maclennaninvestments.com.

Search for the newest real estate listings in Concord, CA by map (click the map below):

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Concord CA Real Estate Map Search

Concord Real Estate News (November 1, 2017)

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Americans are staying in their homes longer. A contest is being held to decide what to do with the layout of Ellis Lake Park. A new shopping center is opening in Concord. Plus, the bay area is hoping to be the home of Amazon’s second headquarters. Take a look at the latest local real estate news.

Veranda shopping center in Concord opens

Have you been watching construction on the new veranda shopping center? Although it’s not all finished yet, it’s open! Located on 2001-2003 Diamond Blvd, Concord, the new shopping center will feature a T.J.Maxx, a Peet’s coffee, an IMAX theater, & much more. (east bay times)”

Concord residents, try your hand at redesigning Ellis Lake Park

“CONCORD — Unhappy about the layout of Ellis Lake Park and frustrated that the city has not embraced his suggestion to redesign it, Concord resident George Fulmore is holding a community contest to find a new vision for the sprawling green space.” (east bay times)

Bay Area hopes to be home of Amazon’s second headquarters

“SAN FRANCISCO, Calif. (KGO) — Thursday marks the deadline for cities around the country hoping to be Amazon’s second headquarters. Five Bay Area cities have worked together on a proposal for a sprawling campus in Concord.” (abc7news.com)

‘I’m never moving again’: Why Americans are staying in their homes for longer

“Americans have never stayed in their homes as long as they expect – but actual tenures are also increasing dramatically. In 2016 and 2017 sellers had stayed in their homes a median 10 years, up from a median of six years all the way back to 1985. (marketwatch.com)”

 

Having a knowledgeable and experienced real estate broker on your side helps protect your interests and insure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.

To reach us please call 925.385.8798 or email us at peter@maclennaninvestments.com.

Search for the newest listings in Concord by map (click the map below):

concord california map

Dana Estates – Concord CA | Thinking of Selling? You Should Do It TODAY!!

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The real estate market in Concord, California is still very active. Reasonable sellers are receiving offers quickly and buyer confidence remains strong. There are multiple price points and types of houses available in Concord, CA.

Particularly around the Dana Estates neighborhood 94519 zip code, homes are in demand. The neighborhood provides convenient access to Highway 4 and to downtown Concord. It is also about equal distance from both the Concord BART station and the North Concord BART station.

Purchasing a home is one of the largest financial decisions that a family can make. Because of the size of the transaction, there are many complicated decisions that surround the purchase of a home.

Today we are going to talk about Thinking About Selling?.

Thinking of Selling? You Should Do It TODAY!! | Dana Estates Concord, CA

That headline might be a little aggressive; however, as August 2017’s housing market data begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME TODAY!

In a recent article by CBS News, they explained that the number of existing home sales is shrinking, and Lawrence Yun, Chief Economist for the National Association of Realtors, said:

“There should be 3 million homes on the market right now…Yet, there are only 1.9 million.”

And this situation will be affected greatly by recent natural disasters. Yun continued by saying:

“Before the hurricanes I would have predicted 1.35 million in new-home construction in 2018…I’ll have to scale that down now.”

NAR, in their August 2017 Realtors® Confidence Index, indicated that:

“Amid sustained job creation and sustained historically low mortgage rates, REALTORS® reported…that buyer demand is stronger compared to conditions one year ago… and that fifty percent of properties were on the market for less than one month when sold.”

The only challenge to today’s market is a severe lack of inventory. A balanced market would have a full six-month supply of homes for sale. Currently, there is only a 4.2-month supply of inventory, which is down from 4.5 months one year ago.

Bottom Line

With demand increasing and supply dropping, this may be the perfect time to get the best price for your home. Let’s get together and discuss the inventory levels in your neighborhood to determine your next steps.

Source… KCM Peter Maclennan Blog

Having a knowledgeable and experienced real estate broker on your side helps protect your interests and insure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.

To reach us please call 925.385.8798 or email us at peter@maclennaninvestments.com.

Search for the newest listings in Concord by map (click the map below):

concord california map
Concord CA Real Estate Map Search

 

 

Majority of Sellers Believe It’s a Seller’s Market

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According to recent research from Redfin, 58% of sellers believe it is a seller’s market. As well, the research determined top reasons for selling are a desire for a nicer or larger home (40%), relocating to a new city (24%), and wanting to pull out equity (21%).

Meanwhile the top concerns about selling are finding a new home they want (30%), falling prices (26%), and finding a new home they can afford (25%). For additional insights check out the graphic below.

sellers market infographic
58% of sellers believe it is a sellers market.

Dana Estates Market Report – June 2016

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With the passing of another wonderful Independence Day, we have an update on the housing market for our beautiful neighborhood in the month of June.

Currently Active Homes in Dana Estates
Number of Houses Active Average List Price Average Days On Market
2 $ 532,450 36

 

Pending Properties in Dana Estates
Number of Houses Pending Average List Price Average Days On Market
3 $ 544,650 20.3

 

Sold Properties in Dana Estates – June 2016
Number of                Houses Sold Avg. List Price Avg. Sale Price  Avg. Sale Price/   Avg. List Price Average Days On Market
5 $ 594,399.80 $ 591,800 99.56% 21.4

Houses went up in price last month compared to previous months, although they are not selling quite at listing price.

 

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This graph shows that home prices are much higher for the month of June than any other month this year (no sales were closed in January 2016).

Based on information from the Contra Costa Association of REALTORS® MLS as of 07/05/2016. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Dana Estates Market Report – May 2016

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Can you believe Summer is here already? Maybe you can, because it seems to come every year.

Just as the seasons run their courses, the housing market runs its own. Below you will find a Dana Estates market summary for the month of May.

Currently Active Homes in Dana Estates
Number of Houses Active Average List Price Average Days On Market
2 $ 512,475 25

There are still not very many homes on the market. A few more have come on in June, but there are still many options out there.

Pending Properties in Dana Estates
Number of Houses Pending Average List Price Average Days On Market
7 $ 535,978 34.1

The number of pending and sold homes indicates that homes that are priced right are selling. In fact we probably could have double the number of active homes to meet market demand.

Sold Properties in Dana Estates – May 2016
Number of                Houses Sold

Avg. List Price

 Avg. Sale Price  Avg. Sale Price/   Avg. List Price Average Days On Market
5 $ 501,400 $ 517,500 103.21%

13

Much to the delight of sellers, properties are selling (on average) over their list prices after a short 13 days on the market.

 

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The chart below shows the number of houses sold each month since June of 2015. As you can see, October was the hottest month, followed by June, December, and March in terms of house sales.

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If you would like to see your home listed in the “Sold” category, please give me a call at 925.385.8798.

Based on information from the Contra Costa Association of REALTORS® MLS as of 06/10/2016. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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