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Waseem Sufi's Blog

By Waseem Sufi | Agent in Pleasanton, CA
  • Home Prices Stabilizing?

    Posted Under: Market Conditions in Pleasanton, Home Buying in Pleasanton, Home Selling in Pleasanton  |  June 9, 2013 10:56 AM  |  1,036 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  |  1,074 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  |  1,135 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  |  1,071 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  |  478 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  |  413 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.

  • A Short Sale story ..Chasing the Chase!

    Posted Under: Home Selling in Livermore  |  June 22, 2010 6:38 PM  |  309 views  |  2 comments

    You are in a business of helping people.  You want to do your very best. You get a listing - in this case only one lender, Chase. You put the house on market, you get multiple offers and then you are of to the races - chasing the Chase!

    It takes about a week to get all the paperwork in via fax with multiple try outs, paper outages etc... One would think that Chase will cut down the chase by having short sale packages submitted via e-mail or document sharing sites instead of good old fax systems.  Don't you think we should ban these fax machines in today's electronic age?

    Now the waiting game begins.  The only way to get updates from Chase is to call, call, call and then call.  No e-mails, just calls.  If you are lucky and show persistence you will get some feedback.  Otherwise, the standard answer, keep checking in couple of days, week after week after week. Finally, a negotiator is assigned and you think you are all set!  No, now the real wait, works begins...

    If you have your homework done and have everything in order your short sale is approved with conditions or is rejected.  The chase (five months) is finally over. 

    Waseem Sufi

 
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