Welcome to my blog site! I will be writing about specific properties, trends, neighborhood events and everything related to Piedmont. I tour properties regularly and will update followers with the newest and latest! Please note that the opinions expressed in my blog are just that - opinions - and should not be taken as factual information. For factual information regarding this or any other home I write about, please refer to the county records.
Tuesday, September 4, 2012
Recent Sales
Market Snapshot
This year, the real estate market started slowly: the first quarter was unusually quiet. But that all changed in the spring: fueled by low supply and strong demand, active inventory dropped to 54% lower than the same time last year. July, which is usually a slow month, remained very strong. Sales were up 15% versus the same time last year, with some cities seeing up to 90% growth (El Cerrito). Prices were up a notable 12%, and although they were mixed, some cities saw 26% (El Cerrito) and 29% (Oakland) growth. And properties continue to sell further above asking price, now at 2%. In fact, homes in Berkeley are selling 5.9% above list. We expect that August numbers will be lower due to the typical summer slow-down, but we hope to see a burst of activity after Labor Day.
Time To Refinance
We just refinanced our Piedmont house, securing a 30 year fix at 3.5% for a jumbo conforming loan! Time to celebrate with a glass of good wine. I encourage you to talk to a few lenders and get a quote. Don't miss out on this great opportunity. If you need suggestions on lenders, let me know.
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