Alameda County Statistics 3/08 to 3/09…

June 6, 2009 by admin

Want to know what’s going on in Alameda County? It’s on FIRE!! Multiple offers are common place. Cash buyers are everywhere and FHA buyers are having a hard time. It’s as if we are back in 2005/2006. If you are looking at property under $400K you better run to that property and put in a bid.

Offers without contingencies are back. Offering 30, 40, 50K over asking is not unusual. Appraisals are a pain in the ass. Not the appraiser but the system itself. Getting an appraiser that is familiar with a local area is a crap shoot, a roll of the dice. Today you need to move fast, be creative and have an agressive offer price with sweet terms.

Realtors that have survived the last year are working their asses off to get clients into their homes. Up in the hills, in the “good areas”, its just as fierce only a bigger penny. Homes in the upper tier, $900K to 1.2M are sitting much longer and it takes the savvy technology driven realtor to get those homes sold with 2-3 months. Right now there are 10.5 months worth of inventory of homes in Alameda County that are over $1M. Under $1M there’s only 2.3 months of inventory as of writing this article.

Remember the dot com era and the millionaires that were made? Well real estate is like being at the race track. Place your bets and cover your ass! Below are the stats for Alameda County as a whole: average price for sale vs sold and months of inventory and then narrowed down to Albay, Berkeley and Oakland. If you want more information about a particular area in the East Bay just email us we’d be happy to send you statistics.