Real Estate Archives

A will is the most common way to transfer real property upon a person’s death, but this does not avoid probate. Probate can be expensive with attorney fees and court costs and can take up to a year to complete.  The way to keep all of your assets out of probate is to set up a trust. Yet for many whose estate consists primarily of the home, the money to establish a trust may be unaffordable.

Californians have an easy remedy to keep their home out of probate with the passage of Assembly Bill 139 which became effective in 2016, creates the Revocable Transfer on Death (TOD) Deed which would transfer to a named beneficiary 1 to 4 unit residential real properties on the death of its owner without a probate proceeding or a living trust.

The Revocable Transfer on Death deed is the most simple and inexpensive transfer mechanism on the market today. Furthermore, it may be the only tool available to unmarried homeowners who wish to leave their property to a lifelong partner, family member, friend, or loved one upon death. .

The deed has no effect until a person dies, and can be revoked at any time. The revocable TOD deed must be signed, dated and acknowledged before a notary public, and must be recorded at the County within 60 days after execution.

 

Danville Market Update August Numbers

For the month of August 2016 here are the home sales results:

  • 63 Homes Listed
  • 70 Homes Sold
  • $1,254,000 – Average sales price
  • $1,195,000 – Median sales price
  • $2,030,000 – Highest sales price
  • $815,000        Lowest Sales Price
  • 23 Days on market
  • Sales to List price ration – 100%

Year To Date home prices in Danville are up 4% over the same time period in 2015.

San Ramon July Home Sales Results

For the month of here is a recap of July home sales activity:

Single Family Detached Homes

  • 94 home listed
  • 40 homes went under contract
  • 76 closed sales
  • Median sales price $1,068,000
  • Average sales price $1,130,338
  • Average Days on Market 21
  • Prices up 6% over same period 2015

Town homes Condos & Duets

  • 40 listed
  • 39 went under contract
  • 31 closed sales
  • Median sales price $600,000
  • Average sales price $619,725
  • Average Days on Market 15
  • Prices up 6% over same period 2015

Housing Prices and Elections

Both home buyers and sellers are concerned about the impact an election has on the real estate market.  In a recent study by California Association of Realtors, it was found the elections had very little impact on housing. CAR did an analysis of home sales dating back to 1990.

“CAR found that the average change in home sales during an election year does not follow a particular pattern. Notably sales growth is rarely negative during an election year, and there is no evidence of a systematic negative impact on home sales or prices stemming from election season.

In fact CAR found that growth in home sales at the end of an election year actually outperforms non-election years by 7.1 percentage points.On a monthly basis since 1990, California home sales contracted by roughly 2 percent during the last four months of the year. However, during the past five election cycles, sales in the final months of the year picked up, rising by 5.3 percent on an average compared to 1.8 percent during non election years.”

The research would indicate that not during the election year were prices effected and the rise of house prices during the end of the election year may be due to knowing what the current economy is versus the future economy?

Source: Realtor Magazine Aug. 2016 Issue

 

San Ramon Home Sales by Price June 2016

Here is a breakdown of homes sold in San Ramon by price range for the month of June.  In June 106 homes were listed, 73 went under contract and 89 closed sales. On average homes are selling in 20 days and the list to sales ratio is even.

Price Range    # Units
<$700,000 1
$700,000 to  $799,000 3
$800,000 to $899,000 17
$900,000 to $999,000 15
$1,000,000 to $1,099,000 10
$1,100,000 to $1,199,000 15
$1,200,000 to $1,299,000 9
$1,300,000 to $1,399,000 6
$1,400,000+ 14
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