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Waseem Sufi's Blog

By Waseem Sufi | Agent in Pleasanton, CA
  • Time to Sell or Buy or Wait!

    Posted Under: Market Conditions in Pleasanton, Home Buying in Pleasanton, Home Selling in Pleasanton  |  July 27, 2014 1:56 PM  |  21 views  |  1 comment

    An Overview of market activity in Danville, Dublin, Livermore, Pleasanton and San Ramon areas of San Francisco Bay Area.

    Some of us have been thinking and or staying on the sidelines to sell or purchase a home. We have been doing this for number of years and will probably continue to do that for some time to come!  For others, I offer some analysis of what has been happening in the residential real estate market (detached homes) in San Francisco Bay areas of Danville, Dublin, Livermore, Pleasanton and San Ramon.

    Here is a chart showing the median price data since 2011.  This data is from local mls and compares the median price of single family detached homes.  Please note that data for 2014 is from January 01, 2014 to June 30, 2014.

    It’s interesting to see how home prices in San Ramon and Pleasanton are running so close. Danville takes the lead in homes with the highest prices and Livermore takes the lead in lowest prices in this area of East Bay!

    What does this mean for first time home buyer, move up folks, investor or anyone looking to make a move or folks waiting on the sideline thinking that they missed the boat again? Let’s take a look at the price fluctuation year by year and see where we are heading.

    Let’s take a look at the year to year percent increase/decrease in the median price data for homes in these areas.  Taking the base year of 2011, we saw an increase of (5%) or less in the median price with Livermore homes being at the highest in 2012.

    In 2013, median prices increased to (13%) from 2012 on Danville homes to as high as (25%) on Livermore homes.  Dublin homes were at second highest increase around (22%), San Ramon came in around (17%) and Pleasanton around (15%).  This was the year we saw multiple offers on homes with a range of $20k to $75k above the asking price. In some cases buyers were offering $100k plus to make sure that they get their dream home or any home!

    Looking at 2014 data on the same chart above, the median prices showed an increase of about (10%) in Danville and Dublin areas with Livermore homes around (13%). Pleasanton saw an increase around (6%) and San Ramon around (8%) when compared with 2013 figures.  This data suggest that the prices are stabilizing along with a sizable decrease in multiple offers.  The homes are staying longer on market and sellers are facing the prospect of settling for less than the asking price!

    Now the question, what will happen next?  Will the market continue to stabilize with home prices staying stable, increase back up or will go down and by how much?

    I wish I can tell you exactly what is going to happen. However, based on this data and given all other factors remain the same, one can continue to see the same pattern as the summer season ends and people get ready for the holiday season.  My advice would be to evaluate your unique situation, consult with your family and friends, your tax adviser, mortgage consultant, real estate agent and anyone else you can think will help.  Then, just do what will be best for you!

  • Home Prices Stabilizing?

    Posted Under: Market Conditions in Pleasanton, Home Buying in Pleasanton, Home Selling in Pleasanton  |  June 9, 2013 10:56 AM  |  1,131 views  |  1 comment

    Are real estate prices still rising with multiple bids and over asking prices in thousands of dollars?  Yes, in many areas.  However, there may be a light at the end of the tunnel for majority of home buyers who just cannot compete with sky rocketing prices.

    With full summer upon us, there are plenty of homes coming on market and as a result there is a bit more variety of homes for buyers to choose from.  However, be warned that majority of homes are being snapped up fast.

    Take a look at the snap shot of single family detached homes sold in Livermore since March 1, 2013.

    This chart shows the number of homes that sold either above the asking price and or below the asking price.  Out of approximately (275) homes that were sold since March 1, 2013,

    • (87) of those homes sold less than the asking price.
    • (84) homes that sold for $25,000 above the asking price
    • (56) homes sold for $50,000 above the asking price
    • (7) homes sold for $100,000 above the asking price
    • (5) homes sold for $125,000 above the asking price

    As you can see the market is still strong with sellers pretty much getting over and above what they are asking. However, data is also suggesting that the number of homes being sold below the asking price are also on the rise as compared to the sales trend for the first quarter of 2013.





  • Homes for Sale - Listed and Sold Price comparison - Pleasanton

    Posted Under: Market Conditions in Pleasanton, Home Buying in Pleasanton, Home Selling in Pleasanton  |  April 23, 2013 8:29 PM  |  1,157 views  |  No comments
    Here is what you may want to bring to the table when hunting for a house in Pleasanton and surrounding communities these days.  For additional information and data on surrounding cities please click the link below.






    http://waseemsufirealestate.wordpress.com/2013/04/23/homes-for-sale-listed-and-sold-price-comparison-pleasanton/
  • Bank Owned vs Short Sale vs Regular Sale Homes – Alamo, Danville and San Ramon

    Posted Under: Market Conditions in San Ramon, Home Buying in San Ramon, Home Selling in San Ramon  |  November 26, 2012 1:37 PM  |  1,213 views  |  No comments
    You ever wonder what is the price difference between a bank owned, short sale and regular sale homes?  Or how many of the sold homes  were either bank owned, short sales and or regular sales in  a given time period?


    There are several variables (location, condition, etc.) that would dictate the final sold price of a home, however, the data below may provide you a rough indication of percentage of homes that were bank owned, short sale, regular sale along with the price they were sold at!

    For Alamo homes,

    In Alamo, almost (80%) of the homes sold between August 2011 to October 2012 were regular sale with an average median price of about $1.3 million.  About (10%) of the homes sold in same time period were Bank Owned with an average median price of almost $800,000 and almost (13%) homes sold as Short Sale fetching an average median price little above $800,000.

    For Danville Homes,


    In Danville, on the other hand, almost (78%) of the homes sold in the same period were regular sale with an average median price of about $800,000.  About (8%) of the homes sold were Bank Owned with an average median price of a bit less than $700,ooo and almost (15%) homes sold as Short Sale fetching an average median price of about $700,000.

    For San Ramon homes,


    In San Ramon, almost (73%) of the homes sold in same period were regular sale with an average median price of about $710,000.  About (9%) of the homes sold were Bank Owned with an average median price of almost $560,ooo and almost (20%) homes sold as Short Sale fetching an average median price little above $650,000.

    So, what does all this means?  Are Bank owned better then short sale or regular sale and or vice versa?  No, not necessarily!  Every house is unique and depending on the circumstances will sell for the what itself is worth!  Depending on your unique situation, you may be able to use this data as a guide and be prepared for how the market is evolving!

    Waseem Sufi






  • Quarterly Report - Pleasanton, Dublin and Livermore Homes

    Posted Under: Market Conditions in Pleasanton, Home Buying in Pleasanton, Home Selling in Pleasanton  |  October 16, 2012 9:13 PM  |  1,152 views  |  No comments
    Here is a brief overview of residential real estate market statistics on single family homes in Francisco, Dublin and Livermore area of San Francisco East Bay.  For detailed review please check out my blog.

    For Sale Home Inventories are getting low and are expected to stay low for next year as well. Listing inventories fell (10.5%) from second quarter of 2012 and were down (13.8%) from 3rd quarter 2011.

     




    Home prices are going back up after a long time. The median price saw an increase of (3.8%) since 2nd. Quarter of 2012 and a whopping (10%) increase from 3rd. Quarter of 2011.

    With increase in competition for low inventories available homes are selling on the fly- only staying on market for 33 days in 3rd quarter (2012) as oppose to (53) days in 3rd. Quarter of last year - a (37.7%) decrease!!

    Are you still thinking of selling or buying? As you can see the trend is changing fast and if you are a seller you may get top dollars and if you are a buyer you may still have a chance of getting in the game before it is too late!

    Please e-mail and or call with any questions.

    Thank you,

    Waseem Sufi
    wsufi@comcast.net


  • Home prices going up or down in Pleasanton, Dublin, Livermore, San Ramon, Danville areas?

    Posted Under: Market Conditions in Pleasanton, Home Buying in Pleasanton, Home Selling in Pleasanton  |  July 5, 2011 8:19 PM  |  535 views  |  No comments
    What is going on with Single Family Home values in Pleasanton, Livermore, Dublin, San Ramon and Danville markets?  Have they bottomed out or still on a downward slide?  Or are they actually starting to rise?

    Please take a look here for details!

    Waseem Sufi
    www.waseemsufi.com
    www,waseemsufirealestate.wordpress.com
  • Top (5) Reasons to Avoid Foreclosure!

    Posted Under: Home Selling in Pleasanton, Foreclosure in Pleasanton, Credit Score in Pleasanton  |  December 14, 2010 8:20 PM  |  495 views  |  No comments

    Are you tired or perhaps don’t understand the foreclosure process and are about to give up? You may want to consider these consequences first!

    1) Most likely you will need to disclose on a future mortgage application that you went through a foreclosure.  This may have an adverse affect on your mortgage rates.

    2) Your credit scores will be lowered considerably (250 to 300+ points)

    3) You may not be able to repair this “foreclosure” item from your credit report.

    4) A lender may seek deficiency judgment against you and come after any amount they can not recuperate at a property auction

    5) An employer may run credit check on prospective employees and this could jeopardize any chances of your selection.

    The bottom line, you may want to consider short selling your house instead.  You will be in better shape as far as your future credit is concerned.

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