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Market Conditions in Orinda : Real Estate Advice

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  • Local Info8
  • Home Buying15
  • Home Selling1
  • Market Conditions2

Activity 4
Wed Jul 2, 2014
Annette Lawrence answered:
Fri Jul 22, 2011
Suzanne Looker answered:
Michael,

We can put you on an automatic MLS lease search and you can monitor the rentals in any area you like. Please let anyone of us know if you want to be set up. It's easy and will give you current rental information.

Regards,
Suzanne Looker
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Thu Jul 17, 2008
Stefan Birnbaum answered:
Value is 10% lower today........
comps from a couple months ago relate to a seasonal surge in demand plus a drop in interest rates directly after Bear Stearns failed.
In June......... market values collapsed.
Interest rates soared........bringing the market to a grinding halt.

Mortgage financing has NEVER been harder to get......

be extremely careful

no sustained real estate appreciation until 2011
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Mon Mar 3, 2008
Bob Wegener answered:
Without citing past statistics, I’ll give you the Lamorinda Real Estate market in a nutshell. I live in Orinda and couldn’t think of a better place to live. I could go on and on about the physical beauty, the wonderful people, the best schools, the ideal climate, the excellent youth sports programs, the arts, the food, the theater, the community….
Add Moraga and Lafayette, each with their own unique subtleties, and you have Lamorinda. There are some differences in the Real Estate between the 3 communities, but 1 block in any 1 town can bring a difference.
Orinda is one of the most desirable communities in the Bay Area. If a house comes on the market with all the right pieces, I’d say it will go pending faster than it would in 90+% of the other Bay Area communities, considered one of the top areas in the whole country.
If you are thinking about buying in Orinda and prepare correctly, you can’t go wrong. That means, be ready when your dream house comes on the market, because dream houses go very fast in Orinda. You should be familiar enough with the community to know that when “Your House” hits the market, you are seeing it that day, and ready to write an offer, with everything in order to write a strong offer, at a fair price, pretty quickly.
This scenario is for the “Wildly Fantastic” houses. IF they hit the market, they will go pending within a week, sometimes even a couple of days or less.
The “Good Ones” usually go pending within 10 days.
Plenty of homes will sit long enough to think about, but if you are doing that, you’re missing out on the first two categories, and you don’t want that to happen. So be prepared. Every price range (Orinda is generally amongst the higher priced Bay Area communities) has some good buys, and some not – so - good buys.
Having praised the area enough, the all important inventory number is now relevant to this discussion. Compared to previous years, inventory hovers very close to the same numbers for Lamorinda, around 170 units as of today, March 3, 2008.
That about covers the market conditions of the Orinda Real Estate market. A running commentary is available at my blog, http://www.lamorindarealestateblog.com . Please feel comfortable contacting me directly ( mailto:bob@bobwegener.com ) with any questions. Selling or buying, I’d love to help you realize your Orinda dream.
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