Home Selling in 94560>Question Details

pam, Home Seller in 95148

How is housing market in Newark, CA? Is it still good time for seller?

Asked by pam, 95148 Wed Aug 7, 2013

Help the community by answering this question:



You ask two questions - let me answer both of them:

Q1: How is housing market in Newark, CA?
A: The market in every east bay city, Newark included, is starting to slow down a bit. It's still very, very strong, but we're past the pinnacle of activity - at least for now. In practical terms, it means homes are staying on the market a bit longer, not getting as many multiple offers and there won't be as much of a bidding war pushing the price way past the asking price.

Here is a post that will provide you with a more detailed response to this question:

East Bay Housing Market Cooling Off: Top 5 Reasons

Q2: Is it still good time for seller?
A: It depends on WHY you are selling.

If you are moving up, it's a good time because there is a lot more inventory hitting the market right now. That means there will be more selection for you. Just a few short months ago, move-up buyers were having no problem selling their existing home but a very difficult time finding a replacement. It's much easier now.

If you are moving down, it's a good time because the spread between the home you are selling and the home you are buying will work in your favor. If prices keep going higher, the spread will actually improve more in your favor as the selling price keeps rising providing you with more equity to use on the other home. Although it will also be rising in price, it won't be at the same rate.

If you are selling and vacating the area, then now is a good time before the market has a chance to soften any more. I don't think it will burst like a bubble, but we may see a minor price correction. If you wait any longer, that could actually cost you some real equity when you sell.

If you are hoping to sell and rent and perhaps ride out the market, I don't believe it's the right time. The rental market has heated up and rents are increasing in many places. It might actually cost you more to rent than you are currently paying and you will no longer have the tax benefits you enjoy right now.

Hope that helps.
2 votes Thank Flag Link Wed Aug 7, 2013
I agree with all the remarks that were given below. If price is a your main motivating factor take the time and do the appropriate updates to maximize your asking price. There are always people looking for a property just like yours.

If you need to sell now and if you have a livable home you will need to have a realtor with a great marketing plan and eye for the market to get it out at the right price to get you into a multiple offer scenario.
0 votes Thank Flag Link Tue Oct 15, 2013
It is still a sellers’ market. That is a market in which sellers call the shots. Demand outstrips supply. Multiple offers are common. Buyers have limited power to negotiate for the best properties.

You still need professional assistance for the best results. If you simply throw a property on the market because you think “it is a good time to sell” your results will be sub-par. Preparation of the property, proper marketing, and professional help yield the best results.

Other than wanting a “good time to sell”, what is your motivation? One does not simply wake up and say “I guess it is a good time to sell.” There has to be more to it than that.
0 votes Thank Flag Link Mon Oct 14, 2013
Great time to sell !!

Lots of multiple offers and bidding higher than asking price.


Jain Rishab
RE/MAX Active Realty.
4056 Decoto Road
Fremont CA-94555
Phone: (510) 676-4770
Fax: (510) 475-1966
0 votes Thank Flag Link Wed Aug 7, 2013
Dear Pam,

It is a great time to sell your home right now in Newark.

Newark is a wanted area for many folks.

I sold a home on the island in the Newark Lake area and there were many responses to my listing, I just helped that sellers daughter buy a home two weeks ago also.

I also sold a school on Birch St. with many responses to that listing also.

What I find is that people who have grown up in Newark really love Newark so when they or their families go to buy a home they try to stay in their home town.

Also the commuters from across the bay love the easy access to Newark so yes it is a very good time to sell your home.

Of course, you need an experienced Broker to guide you through every step of the process.

Please view my Client Testimonials on my website at http://CustomBayHomes.com

It would be my pleasure to help you.

Best Regards,

Larry Gallegos
Real Estate Collaborative Specialist-Divorce

Broker Consultant, e-Pro Certified
CRS-Certified Residential Specialist
Luxury Home Specialist
ASR-Accredited Seller Representative
GRI-Graduate, Realtor Institute
SRES-Seniors Real Estate Specialist
ABR-Accredited Buyer Representative
ASP-Accredited Staging Professional

Better Homes and Gardens Real Estate, Mason-McDuffie
43430 Mission Blvd., Fremont, CA. 94539
(Corner of Mission & Mission Tierra)
Direct (510)-492-4872, Fax (510)-217-4249
Visit my Website at http://CustomBayHomes.com
dre license # 01253795
0 votes Thank Flag Link Wed Aug 7, 2013
It depends. Are you looking to buy, sell, rent, or invest? If sell, a seller who prices her house well will get lots of attention in today's market. Though there is rising inventory in some places, there is little cause for concern when you collaborate with a Realtor to properly price the listing.

We have a listing in Newark right now off Crocus and we get phone calls on it everyday. We are trying very hard to get more exposure on it by telling our buyers about it.

How does your home compare to our current listing? Ours is a 4bed/2ba 1899sqft listed at $579,000.
0 votes Thank Flag Link Wed Aug 7, 2013
Is the house in Crocus still available? My house is viewed everyday also.
Flag Wed Aug 7, 2013
Hi Pam I agree with Brian. It is definitely still a seller's market. The bay area is a very sought after area. You should talk to some Realtors to see not only how they market their listings, but if your personality is compatible with theirs. Also do they answer all your questions and return your calls promptly.... Hope this was helpful.
Web Reference: http://DawnRivera4Homes.com
0 votes Thank Flag Link Wed Aug 7, 2013
Hello Pam,

Yes, the market is still good in the Tri-City, including Newark. It is still a good time to sell.
I am sure you will get a lot of "yes" replies, however the market is slower a little. We would be best to know more information and then we would be able to give you more details in the market activity in your neighborhood.

If you are thinking about selling, you should discuss this question with your Broker. If you do not have a Broker, you might consider interviewing a few and see how they market their properties.

good luck,

Brian Ripp, CRS, GRI

Broker, Notary
Check my web site: http://www.BrianRipp.com
Real Estate Market Weekly Update Webcast: http://realtytimes.com/REUv/BrianRipp

510-710-4905 cell
510-794-9006 wk
Realtor since 1985
DRE Lic. 00886348
0 votes Thank Flag Link Wed Aug 7, 2013
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