As with previous housing cycles, the nation follows California's lead. When the downturn happened, it was California to lead the housing market into the doldrums. In Spring of 2012 I recall mentioning the robust activity to other Real Estate professionals that I worked with in cities such as New York, Phoenix and Orlando, and they were amazed and actually seemed skeptical of activity we were seeing with multiple offers and homes exceeding 10% of value with buyers making up the offer price and appraisal difference to close escrow. Well now they are seeing that in their own markets and have been since the beginning of Spring 2013.
If you look at the recent real estate market from July, the data shows a 5.24% decline in housing inventory. This trend continues in California on a year over year basis and fortunately you will see many other states with similar data and they are now participating in the overdue rebound and subsequent appreciation in their respective markets. Many California cities still make the list and actually round out 6 of the top 10 and many California cities have been bumped down the list by some of the nation’s hardest hits cities now finally seeing a very strong rebound.
Market leaders for year over year appreciation include: Stockton, CA, Detroit, CA and Orange County, CA. These trends all point towards another positive year in 2014 and continued appreciation for the remainder of 2013 for nearly every market in the U.S.
Our market in the East Bay is expected to appreciate in 2014 between 10%-18%.
Statistics were pulled from a recent story on Realtor.com
The EastBayPro Team of Compass Real Estate consist of the following professionals: Kevin R. Kieffer, Broker Associate, Naomi T. Kieffer, GRI, Realtor, Scott & Rochelle Maher, Realtors, Realtor, Matt Rubenstein, Realtor, Ken Wilson, Realtor, Taylor Pollard, Realtor & Heather Gowdy, Realtor. This team is ranked in the top 1% of Contra Costa County and are Five Star Agents as seen in Diablo Magazine - Offices in Walnut Creek & Danville - serving communities throughout the East Bay
Home ownership is commonly associated with a sense of accomplishment a
"Even having done our homework, my wife and I were still nervous and unsure of what to expect when we began shopping for our first home. Adding to the uncertainty of being first-time homebuyers, we were also renting a home that would require us to terminate our lease agreement early should we purchase a home before the expiration of our contract. Enter the EastBayPro Team of Kevin and Naomi Kieffer. Let me start off by saying Kevin and Naomi are without a doubt experts in the business of real estate. Buying, selling, renting, flipping, investing, property management…you name it, they know it. With that being said, we came across Kevin’s phone number when we drove passed a house we thought we might be interested in viewing. Kevin was the listing agent for the property and within a couple of short hours after speaking to him over the phone, we were back at the property and he was showing us the home. Kevin did a great job and was extremely knowledgeable of the property he showed us but in the end it was too small for our family’s needs. We later decided to have EastBayPro Team represent us as our buyer’s agent and we made a wise decision in doing so.
Kevin was always responsive in that whenever a property came on the market that we were interested in, all we had to do was give Kevin a call and he was there to show us the property within hours. We also spent a day with Kevin in which he showed us properties that he thought we would be interested in. I would like to note that we have four small children and they were with us at every showing. Kevin was great with them and had more patience with them than we did. It was on this day, that we found the house we fell in love with and Kevin was on top of putting an offer in for us immediately. The house was a short sale and as complicated as these transactions can be, they made it happen. We worked mostly with Naomi after our initial offer and as great as Kevin was, Naomi was even better (Sorry Kevin but your wife has you beat). Naomi was extremely responsive to any questions or concerns we had. When problems came up during the inspection process, Naomi was on top of it and was able to negotiate the price down beyond what we were expecting. Excellent job! Naomi was extremely organized and made the process, all the way through closing, run very smooth. But their service didn’t stop there. After closing, Kevin called our property management company for the house that we were leasing to see what it would take to break our lease earlier and minimize any penalties. Throughout the homebuying process, Kevin and Naomi fully represented our best interests and we believe that they went above and beyond what most agents would do for their clients. Two thumbs up for the EastBayPro Team of Kevin and Naomi as we would highly recommend!"