Mobile Home For Sale Near Downtown Truckee CA
10100 Pioneer Trail #102-New Listing
At the end of the road in Coachland! This home backs to grande open space. Many upgrades including slate kitchen floor, granite composite counter tops in kitchen, heated floors throughout (except carpet area), ceramic wall plates, wood blinds. A charming back deck offering quiet solitude and privacy. a MUST see slice of prime real estate in Truckee CA! $67,000
Buyers compete for short supply of homes in Bay Area – Article from Mercury News
A recent article in the Mercury News Highlights a major shift in real estate trends:
Buyers compete for short supply of homes in Bay Area
Posted: MercuryNews.com
Peter Giovannotto is smack in the middle of a major shift in the Bay Area housing market.
The Peninsula real estate agent recently had a modest Palo Alto ranch-style home draw 38 offers and sell in eight
days for nearly a half-million dollars more than the asking price, all par for the course in Palo Alto’s overheated real
estate market.
“We started at $1.2 million and ended up selling for $1.65 million,” he said.
A flock of eager buyers competing for fewer-than-usual homes for sale is sending prices soaring along the Peninsula,
where Googlers and Facebook employees duke it out with foreign investors for a place to live.
In other parts of the Bay Area, pent-up demand has helped create a hot market for lower-cost homes, with buyers
having to move fast to grab foreclosures and be prepared for stiff competition on other homes for sale. In Contra
Costa County, pending sales of single-family homes are up about 62 percent from last year and inventory is down 32
percent — a seller’s market.
“We are getting lots of multiple offers on lower-end properties,” said Barbara Safran, president of the Contra Costa
Association of Realtors. “One person told me they had 12 offers on a property in Concord.”
The winning bidder on the Palo Alto home was a Google (GOOG) employee from China, highlighting two trends:
the rise of the wealthy tech buyer and the buyer from Asia. “We’re seeing lot more buyers from that region,”
Giovannotto said. “It’s difficult to buy property over there, and the power of their money is greater over here.”
Another Palo Alto home drew 10 offers recently, selling for $325,000 over the asking price.
In the East Bay, a relatively small supply of lower-priced homes and an increase in demand has homebuyers
jumping.
Two couples working with Danville real estate agent Kevin Kieffer of Keller Williams used the “strike first” method
Kieffer advocates to grab their homes this month. He tells clients that in this market, they have to make a bid almost
immediately, not wait until the weekend when the bulk of buyers are looking. If it’s a foreclosure, the bank is likely
to welcome a decent offer, he said.
Cameron and Rissa Kossen bought a bank-owned Martinez house that’s near Pleasant Hill schools for $313,000 by
making an offer quickly. Had he waited until the weekend, Cameron Kossen said, other buyers would have made
offers and “it would have gone up to $330,000 or $340,000.”
Another East Bay couple, Ken and Ashley Wilson, were outbid on three homes before landing the fourth, a
three-bedroom, two-bath house in Pleasant Hill.
“The housing market is moving so quick that houses would come on the market and my wife and I were having to
make decisions almost at that minute, because there were others willing to purchase the home right then,” said Ken
Wilson, who works at Lawrence Berkeley Laboratory.
On both sides of San Francisco Bay, real estate agents say fewer homes than usual are for sale.
“Menlo Park and Palo Alto are both desperate for inventory,” said Wendy McPherson of Coldwell Banker in Menlo
Park. She said that Palo Alto recently had only about 30 homes for sale.
Ray Chavez of Alain Pinel in Los Gatos sold a home in Santa Clara that received five offers in six days and sold for
$17,000 over the asking price of $609,000, a big bump in that market for a small home.
http://www.mercurynews.com/business/ci_20235268/buyers-compete-short-supply-homes-bay-area
Page 2 of 2 25/03/2012 12:22 PM
“It’s amazing what’s not out there right now,” he said. “There are only 32 homes in the whole city of Santa Clara.
We’re down 74 percent from February 2011.”
The threat of historically low interest rates rising further — the rates rose above 4 percent this week — combined with
increased confidence in the economy is bringing out buyers who have been holding back.
“I think it’s a little bit like Christmas,” said Safran of the Contra Costa Association of Realtors. “People finally
started buying again this Christmas when they hadn’t bought for three years. I think they’re just ready. It’s time.”
Sales were up across the Bay Area in February, the strongest showing for that month in five years, according to
DataQuick, a real estate information service.
Silicon Valley is having its fourth-highest year in sales since 2000, said Richard Calhoun of Creekside Realty in San
Jose. Calhoun, who has tracked the inventory of homes for sale in Santa Clara County for more than a decade, said
that in some parts of Silicon Valley, including the Palo Alto area, the entire stock of homes for sale would be
exhausted in less than a month.
“The housing market has definitely bottomed and is on a recovery path,” said Ken Rosen, chairman at the Fisher
Center for Real Estate and Urban Economics at UC Berkeley. “I think it is a real recovery happening, around the
whole country.”
Contra Costa County, saturated with foreclosures, is still 18 months away from a full recovery and a normal housing
market, Rosen said. “There’s going to be a spillover from San Francisco and the Bay Area, but it hasn’t happened
yet.”
Some would-be sellers on the Peninsula seem to be holding out until next year, when Facebook’s newly minted
millionaires will begin spending their money, potentially driving up prices even more.
Sellers are “getting greedy” and pulling homes off the market, said Alex H. Wang of Rainmaker Properties in Los
Altos. “They get multiple offers on their house and say, ‘I don’t want to sell anymore. I’ll wait until next year.’ That
upsets everybody.”
Why Now Is The Time To Buy- Real Estate Truckee CA
Katie Rice and Victoria Conway of RPM Mortgage, Truckee’s local trusted Mortgage Broker has some advice for the economy we are facing:
We know inventory is low and many buyers are on the fence about what to do. We discussed a few items that may help them get off the fence and are sharing them here.
1. What the changes in rates do to the client’s purchasing power. See attached in this email or click on this cool link: http://mcedge.tv/16cb23
Page 3, has the breakdown in the notes of what the cost in purchasing power will be for the buyers.
2. Listen to the advice of a Billionaire…..when to buy…he says NOW. We have a shortened link for you of Warren Buffet’s talk on CNBC when he says he would buy 200,000 SFR and take out a 30 year mortgage on each. Click on link to view CNBC Video with Warren Buffett .
3. Then of course when you get them into contract we can do a 20 day close on all the loans with 20% down. Win/Win/Win!
a. must be local title company
b. 20% down
c. rush required on appraisal
Contact Katie or Victoria today to get started on the pre-approval process.
Katie Rice
Victoria Conway
Mortgage Planning
Rice Conway Team
RPM | MORTGAGE
11050 Pioneer Trail, Suite #201, Truckee, CA 96161
Mailing: PO Box 914, Truckee CA 96161
Phone: 530.582.9992 , Fax: 530.582.9995, www.RiceConwayGroup.com
Keeping our clients’ best interests at heart!
National Mortgage License (NMLS) # 01723643
Truckee CA Real Estate at Its Best – Sierra Meadows Home
10560 Rosa Court
This is a beautiful must see property!! Contractor’s own home fully remodeled with incredible features & designer details. Some features include vaulted ceilings, upgraded fixtures, hardware, windows & doors and a wonderful use of granite, slate, travertine, glass tile throughout. Reclaimed barn wood ceiling and granite hearth with FP “”X”" in one of the two Master suites. Great cul-de-sac location and just minutes to Legacy Trail, Regional Park, golf, Old Town Truckee and year round Mountain Resorts – prime real estate in Truckee CA. $375,000
North Lake Tahoe Real Estate – Kings Beach Home For Sale
1306 Kings Way
Great home on a private parcel. Home sold as is and is an amazing location in Kings Beach, North Lake Tahoe Real Estate. Sunny level driveway for easy winter access. Wonderful front deck to enjoy the Tahoe seasons. Fourth bedroom would make a great recreation room! Bonus loft is ideal for extra sleeping space or home office. Lots of space for everyone! Huge unfinished storage area under home. $355,000
