What's Up in Central Contra Costa County and San Ramon Valley area |
All markets are very local and it certainly applies to central Contra Costa and in particular to Danville, San Ramon, Alamo, Walnut Creek and many of the surrounding towns. High demand neighborhoods will always do well even in a slowing market and this is so very true today with buyers being more scarce. People seem to gravitate to what is best, if they can afford it. Walnut Creek is a bit slower in the neighborhoods that are not served by the better schools with the highest test scores or are well above the average price. Lafayette is selling because it is a "rock star location." with buyers having low inventory to choose from. Concord is a tough sell because of high inventory and average school ratings. Detached homes in close to perfect shape and in sought after neighborhoods with few REO's or short sales, are still selling within 2-3 weeks of listing. The "diamonds in the rough" or shoddily maintained homes in marginal neighborhoods are sitting much longer and may not sell at all. Unrealistic sellers need a reality checkup. It is the job of their real estate professional to tell them the truth or say, "I respect your position, please call me when you will do what it takes to sell in this market" and "I'll be happy to get your home sold." Lots of sellers are willing to rent out their homes, but don't realize that most tenant's don't have "pride of ownership" since they've never owned or don't own. Your lovingly cared for home will never look the same and you will have to probably do some damage control to get it into shape to sell. Figure out what you are paying each month to own the property. Then figure that times 12 months. That is what you are losing because it is not going up in value, for at least then next year or so.
