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According to these experts, we are not in a housing bubble. Prices in the Bay Area are holding steady in most cities and some are still going up due to high demand. Here is what these experts say.

“With residential home prices continuing to appreciate at levels above historic norms, some are questioning if we are heading toward another housing bubble (and subsequent burst) like the one we experienced in 2006-2008.

Recently, five housing experts weighed in on the question.

Rick Sharga, Executive VP at Ten-X:

“We’re definitely not in a bubble.”

“We have a handful of markets that are frothy and probably have hit an affordability wall of sorts but…while prices nominally have surpassed the 2006 peak, we’re not talking about 2006 dollars.”

Christopher Thornberg, Partner at Beacon Economics:

“There is no direct or indirect sign of any kind of bubble.”

“Steady as she goes. Prices continue to rise. Sales roughly flat.…Overall this market is in an almost boring place.”

Bill McBride, Calculated Risk:

“I wouldn’t call house prices a bubble.”

“So prices may be a little overvalued, but there is little speculation and I don’t expect house prices to decline nationally like during the bust.”

David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices:

“Housing is not repeating the bubble period of 2000-2006.”

“…price increases vary unlike the earlier period when rising prices were almost universal; the number of homes sold annually is 20% less today than in the earlier period and the months’ supply is declining, not surging.”

Bing Bai & Edward Golding, Urban Institute:

“We are not in a bubble and nowhere near the situation preceding the 2008 housing crisis.”

“Despite recent increases, house prices remain affordable by historical standards, suggesting that home prices are tracking a broader economic expansion.”


Real Estate Always on the Move

San Ramon 3 Bedroom Home For Sale

Want to live in San Ramon? Our newest listing on 9833 Davona Dr. San Ramon is a 3 bedroom, 1700 sq. ft home with many updates.

Home features open floor plan with large vaulted ceiling, bright, formal dining room and TV room (great room?) adjacent to kitchen featuring recessed lighting, new double oven, granite counter tops.

California living extends to the outdoors with newly remodeled back yard including lighting a retractable awning for warmer days, as well as office/storage/playroom with electrical. Side yard is set up for family fruit & vegetable garden with drip system. Additional features include: fresh paint inside and out, ceiling fans in all bedrooms and TV room, crown molding, dual pane windows, newer HVAC, custom storage cabinets in garage, durable laminate flooring, newer driveway and walkway in front, low maintenance yard, plantation shutters most rooms, great for entertaining.

Check out 9833 Davona now for a full description or watch the video tour http://bit.ly/2wbndnH. To see this house call Linda Urbick 925-786-5132.

For Sale By Owners Losing Money

For sale by owners, did you know you are losing out on more money in your pocket by going it alone. While you might be saving the real estate commission, you are not netting what you could if you used a real estate agent. And at the end of the day, the net is what counts. The following article explains in more detail.

For-sale-by-owners tend to sell their homes for lower prices than homes sold through traditional agents via the MLS, and in many cases below the average differential represented by the prevailing commission rate, according to a new study by Collateral Analytics

The study examined the price differences between homes sold through traditional agents versus those sold by FSBOs from 2016 to the first half of 2017.

Some homeowners may be tempted to try to avoid commission costs to a broker and try to sell the home on their own. But that can backfire and turn into a much lower sales price, the study found.

Even successful FSBO sellers achieve prices “significantly below” those from similar properties sold more traditionally via REALTORS®, the study found.

The authors found that the differential in selling prices for FSBOs when compared to MLS sales is “remarkably close to average commission rates.” A FSBO sale, on average, nets nearly a 6 percent lower price than an MLS sale for a similar property. 

Assuming that both buyers and sellers pay the commission, one might have expected something less than this average, the researchers note. It appears that many sellers are avoiding commissions while netting home prices less than they would with an agent-represented MLS sale. They are avoiding commissions at any price, even one that exceeds a commission rate.”

If more money in your pocket is what you are looking for, then you might consider hiring a professional.

Source: “Saving Real Estate Commissions at Any Price,” Collateral Analytics Research (Aug. 16, 2017)

San Ramon Home Sales 2nd Qtr 2017

San Ramon home sales for the second quarter of 2017. These numbers are for single family detached homes:

  • 261 Units Sold
  • Average Sales Price $1,169,633
  • Median Sales Price $1,120,000
  • Highest Price $2,375,000
  • Lowest Price $619,000
  • Average Days on Market 18

Average sales price is down 1% over first quarter of 2017, yet more than double the units, 261 vs 121

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