Market Conditions in Moraga>Question Details

Ownerinlamor…, Both Buyer and Seller in Moraga, CA

Current market conditions in Lamorinda?

Asked by Ownerinlamorinda, Moraga, CA Mon Mar 2, 2009

I own a home in the Corliss neighborhood of Moraga. We are considering a move to south Orange County or north San Diego in the coming years. We don't HAVE to move, but would like to at some point in the near future. What does this year look like for Lamorinda (particularly Moraga) and in 2010-2011? Are there lots of buyers right now in Moraga?

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Ownerinlamorinda’s answer
Thanks Suzanne. My husband and I hadn't thought of it in those terms and that is very helpful. Since we're in no rush we're leaning towards waiting it out a few years. No one can tell what will happen, but I'm thinking now may not be the optimal time for us. I appreciate the responses.
0 votes Thank Flag Link Wed Mar 4, 2009
Hello,
I agree with Bernard's appraisal of the Lamorinda area. It is still a good time to sell and buy up, however if you are downsizing, it's a little less of an advantage for you. It's better to sell for less and buy for less than the other way around and the climate is still ripe for buyers that have good credit, downpayment money and employment that justifies their mortgage.
Does that help at all?
Suzanne
0 votes Thank Flag Link Tue Mar 3, 2009
Well in that case you probably have just the kind of home that would appeal to the majority of Moraga buyers. It is always the nicest homes that sell quickly (when priced right of course). If you price it at market value it should sell reasonably quickly.

Bear in mind that prices are still declining and although they are probably fairly close to the bottom, they won't start to recover for some time. If you want to move this year, I would suggest you get your home on the market in the next 1-3 months. That way you should get the best return.

Let me know if there is any way I can help.

All The Best

Bernard Gibbons

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Bernard Gibbons, Realtor, e-PRO Certified Internet Specialist
J. Rockcliff Realtors, 15 Railroad Avenue, Danville, CA 94526
Phone (925) 997-1585
bernard@bernardgibbons.com
0 votes Thank Flag Link Mon Mar 2, 2009
Thanks for your response. Our home is a ranch house, just under 3000 sq. feet. It is nicely updated, but not extravagantly so.
0 votes Thank Flag Link Mon Mar 2, 2009
Moraga is never an overly active market. There are rarely huge numbers of homes for sale or buyers looking for them.

There are 43 homes listed for sale there now. That represents 3-4 months supply based on recent activity so you can see that there are buyers about.

As fara as Lamorinda is concerned in general, I believe that this area is more resilient than most. People in Lamorinda who bought homes there are more liely to be able to afford them than people in most parts of the San Ramon Valley.

I don't expect to see much increase in activity here over the next year or so and I expect we will see a slight downwards trend in home values over the next few months before prices level out. Even when they do start to increase again (maybe towards the end of 2010 or 2011) we won't see major appreciation. Maybe 2.5% per year.

Of course this is all generalisation. I don't know if you live in a 2 bedroom condo or a 10 bedroom country estate. The naswere could vary significantly depending on your individual circumstances.

If you would like an estimate of your hom'e present value and the length of time it should take to sell, please let me know and I will be happy to show you.

Bernard Gibbons

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Bernard Gibbons, Realtor, e-PRO Certified Internet Specialist
J. Rockcliff Realtors, 15 Railroad Avenue, Danville, CA 94526
Phone (925) 997-1585
bernard@bernardgibbons.com
0 votes Thank Flag Link Mon Mar 2, 2009
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