Home Selling in 94588>Question Details

M. Antoinette…, Other/Just Looking in Brentwood Ca 94513

How is the Pleasanton market doing in regards to the townhouses and condo market?

Asked by M. Antoinette Mcfadden, Brentwood Ca 94513 Thu Jun 14, 2007

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This report is for January 2014.

Days on Market (DOM) for the Pleasanton area year-to-date is around 16. The median attached home price in Pleasanton for January was $647,500. As of the last day of January there were 9 active homes in Pleasanton. At current selling rates this means there is approximately 1 month of inventory in Pleasanton remaining.



Meena Gujral
http://www.helpusellachievers.com
925-425-9491
1 vote Thank Flag Link Wed Feb 26, 2014
Although Pleasanton has seen its inventory increase since March, we are still doing well. Pleasanton is at about 2.5 months of inventory which means if no more homes came to the market, it would take 2.5 months to sell our existing inventory of homes. This is a stable and normal market for Pleasanton. Compare this inventory with places like Brentwood and Antioch which are more like at 8 months of inventory.
As for the condo/townhouse market in Pleasanton. We have seen a slowing trend in our pending. They are still there, but it does take time. This may be partly due to rising interest rates and lenders being conservative. The days of 100%+ stated income loans are nearly non-existent. How does this directly affect the lower price ranges? One thing we lose with the higher rates and the tighter lending guidelines is our first time homebuyers. These are the buyers that most likely would be looking at the entry level homes (condos/townhouses). Buyers these days need to exhibit high credit scores (680+), be able to show proof of income (not just stated income), and have a down payment of 5% or more (better loan qualification). This doesn't mean that one can still do 100% financing, but it does make that pool of buyers that much smaller.
In Pleasanton, there are 66 condos/townhouses currently on the market. This provides the buyer with a terrific selection of choices as well as having some negotiation power on price. For the most part, home prices in Pleasanton have leveled and are placed on the market at reasonable market price, albeit some sellers just aren't there yet.
You need to make sure that you are working with a Realtor who knows this market and can go over the comparables with you to make sure that when you write an offer on a home, you are making the best reasonable price.
This is a terrific market for a buyer. Will it take time to sell? Yes. Average market time is about 26-35 days if the home is priced correctly.
For more information on Pleasanton properties or for a personal consultation, please visit my website.
1 vote Thank Flag Link Fri Jun 15, 2007
Although this is a very old question i would like to answer for any buyers looking to buy a town house or a condo in Pleasanton. Here is the deal at this point there is a huge demand for town homes and condos in Pleasanton as the price point still makes sense.
0 votes Thank Flag Link Mon Feb 24, 2014
The Condo and Townhouse Market is on fire in Pleasanton. Right now, however, the rates are so low that there are far more people trying to buy homes than there are properties that are listed for sale, so there is a housing inventory shortage that is drivng up prices. Homes can literally sell before they hit the open market because the listing agent typically has buyers who would love to purchase a home right now tat they, themselves have not been able to get them into. Some buyers who started looking for a condo or townhouse last fall or even this year, have already been priced out of the market because home prices have jumped up so dramatically so quickly...for example, more than $100K in less than a year!!

Homes can sell before they even hit the market! It is not usually in the best interest of the seller, howver, to sell to someone before allowing the property to be exposed to the open market for at least 5-7 days.
A good example of how a seller can be "damaged" by selling before adequate market exposure is a Pleasanton TH that recently sold for $400,000. The seller wanted $400K and the agent had a buyer who was willing to pay $400K, so they accepted the offer without exposing it to the market. I had a listing that was in far worse condition in which someone had died in the home and was a model match to the $400K one that closed and mine was listed at $375K. I had offers over asking price before it hit the market just from the coming soon sign and the coming soon marketing I did the week before. The people had not even seen interior pictures and they did not care. In fact, they did not even care if it appraised or not; they were willing to pay the difference between the apraised value and their offer price (If a home does not appraise for the agreed upon price, the buyer's lender will not loan on it unless the buyer brings in the amount of money needed to close the gap between the appraised value and the offered price of the home).

We stuck with our plan had a broker's tour and open house that generated over 100 people through in 7 hours and lots of agents brought their clients by on their own as well. First showing was on a Friday. Offers had to be submitted by Wednesday morning and the buyer had to purchase the home owner occupied and show proof of funds to close the appraisal gap of they offered more than the list price. We ended up with 9 offers and many were 10-15% OVER the listed prce; two were from my own buyers who have been trying to buy a home!

Remember, my listing was in worse shape than the one that sold for $400K without going on the market. Hence, that seller lost out on more than $30,000 they could have gotten for the property if their agent had advised them about exposing the home to the open market rather than just taking the offer from the listing agent's buyer.

In the Tri-Valley area, there are not nearly as many short sales and foreclosures as there have been in years past (typically less than 14% of the market are these types of sales now), so people are willing to pay more for properties because they can close escrow sooner and with less hassle. In fact, home prices have gone up so much in some areas that many people who were under water last fall actually have equity now and can either refinance or sell their home!
If you would like to find out what your home may be worth in today's market for free online right now, visit http://RobinsHomeValues.com for a no obligation home valuation.
If you are facing foreclosure or are simply struggling to keep your home, you can download my free report 9 Alternatives to Foreclosure at http://RobinBirdTeam.com

Did you know that your home can be in foreclosure and you still may have many options that may keep you in your home if you want to stay or you can sell it. Sometimes your lender will even give you $3,000 or more to help you with moving expenses! We help people who are behind in their payments and in foreclosure quite often and are happy to provide complimentary consultations for people who want to know what their options are given their situation. At Realty World-No Pressure Realty, we pride ourselves on the fact that we help people make their real estate dreams come true. If that means helping you stay in your home if possible when you are struggling or underwater, then so be it. As many of the people who have contacted me know, we first find out what your goal is and try to see if we can help you obtain that. Sometimes people have called me to list their home because they thought that was their only option when in fact, I was able to help them stay in their home. Did I make any money on that transaction? Not a penny. In fact, it cost me money in time, gas, research, etc., but it was the right thing to do.

I feel if you are honest & do what is in the best interest of the person who has reached out to you, then that will come back to you many times over. Robin@NoPressureRealty.com
0 votes Thank Flag Link Fri Jun 28, 2013
Last month the Pleasanton condo and townhome had an inventory increase last month and the pending sales dipped leaving the average time on the market at 63 days. There 32 months of inventory based on pending sales per trendgraphix.com Plesanton is in direct competition with Dublins newer construction.
Web Reference: http://castles2homes.com
0 votes Thank Flag Link Thu Aug 30, 2007
Pam Winterba…, Real Estate Pro in San Ramon, CA
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Pleasanton townhomes and condos have a ton of competition. Mostly because of the influx of new townhomes and condos in Dublin which is right next door. In Pleasanton they are older... in Dublin they are new. School district and brand new is a trade off right now.

You need to get aggressive and think outside the box to compete with Dublin in the current marketplace.
0 votes Thank Flag Link Thu Aug 30, 2007
Many of the condos in Pleasanton have to compete with new construction of Dublin Ranch and Livermore. Most of the condos in Pleasanton have high HOA fees because they are older or they do not have too many units in the complex. The great thing about condos in Pleasanton is that most of them are close to Downtown and schools which makes them a lot more desirable location wise. The condo/townhouse will always be a good market because it is where most people start when they purchase a home, there is always a good turnaround on them because the demand is high and as lending tightens and prices increase more people will be looking for condos over detached homes.
0 votes Thank Flag Link Tue Jun 19, 2007
In general, the Pleasanton housing & condo market is doing better than most surrounding communities. Below is a link for area condo data. If you want more info please feel free to contact us and request our market details report.
0 votes Thank Flag Link Fri Jun 15, 2007
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