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Homes for Sale in the Dana Estates Neighborhood of Concord

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Bidding Wars Abound… How Long Will They Continue?

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Bidding Wars Abound concord real estate

Bidding Wars Abound… How Long Will They Continue? | Concord Homes For Sale

As the largest city in Contra Costa County, there are many Concord homes for sale, particularly in the zip code 94519. Concord offers accessibility and a measure of affordability when compared to its pricier neighbors of Pleasant Hill, Walnut Creek, and Clayton.

Neighborhoods within the 94519 zip code include:

  • Dana Estates
  • Monte Gardens
  • Holbrook Heights
  • Wren Avenue
  • El Monte
  • San Vincente

These Concord neighborhoods offer proximity to Todos Santos Plaza and the downtown Concord BART station. As well, they provide access via Willow Pass Rd. to Highway 4.

Today I would like to talk about: Bidding Wars and What they Mean to You Selling Your House

Just like with any product or service, the law of supply and demand impacts home prices. Any time that there is less supply than the market demands, prices increase.

In many areas of the country, the supply of homes for sale in the starter and trade-up home markets is so low that bidding wars have ensued, and the busy spring-buying season is just around the corner.

CoreLogic recently conducted an analysis on national home prices at the time of sale for their January 2018 MarketPulse Report and found that a third of homes sold for at least list price.

“The share selling above list price was almost three times the trough in January 2008 and represented more than one-fifth of total sales.”

Many markets in the western part of the country and around major cities are experiencing higher shares of homes selling above list price.

“San Francisco had the largest share of homes—76 percent—that sold for at least the list price, and Seattle and Los Angeles followed with 63 and 51 percent, respectively. Miami had the lowest share—16 percent—of homes selling at or above the list price.”

Increased demand during the spring and summer months, the traditionally busier seasons for real estate, will no doubt influence how many homes continue to sell over list price.

This should not be seen by sellers as permission to overprice their homes, though. Buyers are becoming more and more educated, especially those who have been searching for their dream homes for a while now while waiting for new inventory to come to market.

Realtor.com gives this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

Bottom Line

Without a large wave of new listings coming to market, buyers will continue competing with each other for the homes that are available. If you are thinking of selling your home, now may be the time to do so before more competition comes this spring. Let’s get together to determine the demand for your house in our area.

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 homes for sale in Concord, CA by map (click the map below):

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Concord CA Real Estate Map Search

What Impact Will the New Tax Code Have on Home Values?

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What Impact Will the New Tax Code Have on Home Values? | Concord Homes For Sale

As the largest city in Contra Costa County, there are many Concord homes for sale, particularly in the zip code 94519. Concord offers accessibility and a measure of affordability when compared to its pricier neighbors of Pleasant Hill, Walnut Creek, and Clayton.

Neighborhoods within the 94519 zip code include:

  • Dana Estates
  • Monte Gardens
  • Holbrook Heights
  • Wren Avenue
  • El Monte
  • San Vincente

These Concord neighborhoods offer proximity to Todos Santos Plaza and the downtown Concord BART station. As well, they provide access via Willow Pass Rd. to Highway 4.

Today I would like to talk about: What Impact Will the New Tax Code Have on Home Values?

Every month, CoreLogic releases its Home Price Insights Report. In that report, they forecast where they believe residential real estate prices will be in twelve months.Below is a map, broken down by state, reflecting how home values are forecasted to change by the end of 2018 using data from the most recent report.

What Impact Will the New Tax Code Have on Home Values? | MyKCM

As we can see, CoreLogic projects an increase in home values in 49 of 50 states, and Washington, DC (there was insufficient data for HI). Nationwide, they see home prices increasing by 4.2%.

How might the new tax code impact these numbers?

Recently, the National Association of Realtors (NAR) conducted their own analysis to determine the impact the new tax code may have on home values. NAR’s analysis:

“…estimated how home prices will change in the upcoming year for each state, considering the impact of the new tax law and the momentum of jobs and housing inventory.”

Here is a map based on NAR’s analysis:

What Impact Will the New Tax Code Have on Home Values? | MyKCM

Bottom Line

According to NAR, the new tax code will have an impact on home values across the country. However, the effect will be much less significant than what some originally thought.

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 homes for sale in Concord, CA by map (click the map below):

concord california real estate search by map
Concord CA Real Estate Map Search

The Impact of Tight Inventory on the Housing Market

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The Impact of Tight Inventory on the Housing Market  | Concord Homes For Sale

As the largest city in Contra Costa County, there are many Concord homes for sale, particularly in the zip code 94519. Concord offers accessibility and a measure of affordability when compared to its pricier neighbors of Pleasant Hill, Walnut Creek, and Clayton.

Neighborhoods within the 94519 zip code include:

  • Dana Estates
  • Monte Gardens
  • Holbrook Heights
  • Wren Avenue
  • El Monte
  • San Vincente

These Concord neighborhoods offer proximity to Todos Santos Plaza and the downtown Concord BART station. As well, they provide access via Willow Pass Rd. to Highway 4.

Today I would like to talk about: The Impact of Tight Inventory on the Housing Market

The housing crisis is finally in the rearview mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. It seems that the market will continue to strengthen in 2018.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the winter, supply is not keeping up.

Here are the thoughts of a few industry experts on the subject:

National Association of Realtors

“Total housing inventory at the end of November dropped 7.2 percent to 1.67 million existing homes available for sale, and is now 9.7 percent lower than a year ago (1.85 million) and has fallen year-over-year for 30 consecutive months. Unsold inventory is at a 3.4-month supply at the current sales pace, which is down from 4.0 months a year ago.”

Joseph Kirchner, Senior Economist for Realtor.com

“The increases in single-family permits and starts show that builders are planning and starting new construction projects, that’s a good thing because it will help to relieve the shortage of homes on the market.”

Sam Khater, Deputy Chief Economist at CoreLogic

“Inventory is tighter than it appears. It’s much lower for entry-level buyers.”

Bottom Line 

If you are thinking of selling, now may be the time. Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price.

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 homes for sale in Concord, CA by map (click the map below):

concord california real estate search by map
Concord CA Real Estate Map Search

Time on the Market Drops to New Low in 2017 | Dana Estates Real Estate

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Time on the Market Drops to New low in 2017 | Dana Estates Real Estate

The Concord real estate market 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 Time on the Market and how you can take advantage of this.

According to recently released data from the National Association of Realtors (NAR), the median amount of time a home spent on the market hit an all-time low of only three weeks in 2017.

Strong buyer demand, a good economy, and a low inventory of new and existing homes for sale created the perfect storm to accelerate the time between listing and signing a contract. The time needed to sell a home has dropped substantially since its highest mark of 11 weeks in 2012.

The chart below shows the median weeks on the market from 1987 to today.

Bottom Line

If you are a homeowner who is debating whether or not to list your home for sale, know that national market conditions are primed for a quick turnaround! Let’s get together to discuss exactly what’s going on in our area, today!

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 homes for sale in Concord, CA by map (click the map below):

concord california real estate search by map
Concord CA Real Estate Map Search

Dana Estates Real Estate | Should Boomers Buy or Rent after Selling?

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Should Boomers Buy or Rent after Selling? - Concord Real Estate

Should Boomers Buy or Rent after Selling | Concord Real Estate?

The Concord real estate market 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: Should Baby Boomers Buy or Rent after Selling?

In a recent CNBC article, it was reported that many baby boomers are selling their current homes and moving into rentals, rather than purchasing another home.

“Between 2009 and 2015, the number of renters aged 55 or above rose 28 percent, while those aged 34 or younger only increased 3 percent…

Meanwhile, more than 5 million baby boomers across the nation are expected to rent their next home by 2020, according to a 2016 analysis from Freddie Mac.”

This makes sense in the short term for many reasons. If you are moving to a different part of town or a new region of the country, you may decide to rent until you pick the perfect home in an area you love. However, is renting a good long-term strategy?

A mortgage payment remains fixed. Rents, however…

The Census Bureau recently released their 2017 third quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:

Should Boomers Buy or Rent after Selling? | MyKCM

As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether you should rent or buy your next home, you should take this into consideration.

Bottom Line

One way to protect yourself from rising rents is to lock in your housing expense by buying a home instead of renting. Let’s get together so we can help you decide what the best step is for you and your family!

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):

concord california real estate search by map
Concord CA Real Estate Map Search

Dana Estates Real Estate | Home Prices Up 7% from Last Year

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Home Prices Up 7% from Last Year | SellingDanaEstates.com

Dana Estates Real Estate | Home Prices Up 7% from Last Year

The Dana Estates 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: Home Prices. They’re up 7% from Last year.

According to CoreLogic’s latest Home Price Index, national home prices have appreciated by 7.0% from October 2016 to October 2017. This marks the second month in a row with a 7.0% year-over-year increase.

A lack of supply of homes for sale has led to upward pressure on home prices across the country, especially in areas where both existing and new home inventory have not kept up with buyer demand.

CoreLogic’s Chief Economist Frank Nothaft elaborated on the significance of such a large year-over-year gain, 

“Single-family residential sales and prices continued to heat up in October. On a year-over-year basis, home prices grew in excess of 6 percent for four consecutive months ending in October, the longest such streak since June 2014.

This escalation in home prices reflects both the acute lack of supply and the strengthening economy.”

This is great news for homeowners who have gained over $13,000 in equity in their home over the last year! Those homeowners who had been on the fence as to whether or not to sell will be pleasantly surprised to find out that they now have an even larger profit to help cover a down payment on their dream home.

CoreLogic’s President & CEO Frank Martell had this to say,

“The acceleration in home prices is good news for both homeowners and the economy because it leads to higher home equity balances that support consumer spending and is a cushion against mortgage risk. However, for entry-level renters and first-time homebuyers, it leads to tougher affordability challenges.”

Any time the price of a home goes up there will likely be concern about the affordability of that home, but there is good news. Mortgage interest rates remain at historic lows, allowing buyers to enter the housing market and lock in a low monthly housing cost.

Rents Are Also Rising

The report went on to mention that over the same 12-month period, median rental prices for a single-family home have also risen by 4.2%.

With rents and home prices rising at the same time, first-time buyers may find the task of saving for a down payment a little daunting. Low down payment programs are available and have been a very popular option for first-time buyers. The median down payment for first-time buyers in 2017 was only 5%! 

Bottom Line

If you are looking to enter the housing market, as either a buyer or a seller, let’s get together to go over exactly what’s going on in our neighborhood and discuss your options!

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

Getting a Home Ready for Sale

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Getting a Home Ready for Sale

Are you considering getting a home ready for sale? The infographics below courtesy of the California Association of Realtors provide some great information on what to do and what not to do when getting a home prepped for sale.

Create Curb Appeal

According to the survey, homeowners are transitioning to low maintenance yards. Also, homeowners want to look distinct from their neighbor’s lawn.

Many homeowners and buyers are conscience about drought-tolerant plants and yards that use less water.

Bed Bedroom Designs

getting a home ready for sale - bad bedroom designs

Most of us spend one-third of our life in bed sleeping. It stands to reason that a bedroom is a key feature that home buyers will evaluate. The keys to an inviting bedroom include reducing clutter, removing bulky drapes, removing excess pillows, and avoiding bright paint choices.

The key to selling a home quickly and for top dollar is to make it attractive to a large amount of ready, willing, and able buyers that will bid against one another for the home. Removing hindrances is a key to that.

Selling a Concord Home

If you are looking to sell a home or buy a home around Concord, CA, I would be delighted to help you. As part of my marketing plan, I provide a free consultation with a professional stager to help clients get their home ready for sale.

Please feel free to call me for a no obligation consultation at 925.385.8798 or use the contact form to get in touch.

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Feeling ‘Stuck in Place’? You Aren’t Alone… And There’s Hope! | Concord Real Estate

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Feeling ‘Stuck in Place’? You Aren’t Alone… | Concord real estate

Feeling ‘Stuck in Place’? You Aren’t Alone… And There’s Hope! | Concord Real Estate

The Concord real estate market 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: Feeling ‘Stuck in Place’?

Whether you are a renter who is searching for your dream home or a homeowner who feels like your only option is to renovate, you have at least one thing in common: feeling stuck in place.

According to data from the National Association of Realtors’ Profile of Home Buyers & Sellers, the average amount of time that a family stays in their home remained at 10 years in 2017. This mark ties the highest marks set in 2014 and 2016. Back in 1985, when data was first collected on this subject, homeowners stayed in their homes for an average of only 5 years.

There are many reasons why homeowners have decided to stay and not to sell. A recent Wall Street Journal article had this to say,

“Americans aren’t moving in part because inventory levels have fallen near multidecade lows and home prices have risen to records. Many homeowners are choosing to stay and renovate, in turn making it more difficult for renters to enter the market.” 

Sam Khater, Deputy Chief Economist for CoreLogic, equated the lack of inventory to “not having enough oil in your car and your gears slowly [coming] to a grind.”

Historically, a normal market (in which prices increase at the rate of inflation) requires a 6-7 month supply of inventory. There hasn’t been that much supply since August of 2012! Over the course of the last 12 months, inventory has hovered between a 3.5 to 4.4-month supply, meaning that prices have increased and buyers are still out in force!

Challenges in the new-home construction market have “helped create a bottleneck in the market in which owners of starter homes aren’t trading up to newly built homes, which tend to be pricier, in turn creating a squeeze for millennial renters looking to get into the market.”

“Economists said baby boomers also aren’t in a hurry to trade in the dream homes they moved into in middle age for condominiums or senior living communities because many are staying healthy longer or want to remain near their children.”

So, what can you do if you feel stuck & want to move on?

Don’t give up! If you are looking to move-up to an existing luxury home, there are deals to be had in the higher-priced markets. Demand is strong in the starter and trade-up home markets which means that your house will sell quickly. Let’s work together to build in contingencies that allow you more time to find your dream home; the right buyer will wait.

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):

concord california real estate search by map
Concord CA Real Estate Map Search

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):

concord california real estate search by map
Concord CA Real Estate Map Search

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):

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Concord CA Real Estate Map Search

 

 

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