Labor Day Holiday Creates A Pause In Bay Area Inventory
Labor Day Holiday Creates A Pause In Bay Area Inventory
Labor Day is coming up soon and is quite possibly one of the most popular and relaxing family holidays of the year. Nearly everyone takes off for the weekend and in the bay area, most of them are heading up to Tahoe or out to the coast. The holiday starts early as you can start to see the traffic backing up on major freeways starting the Wednesday before as many folks start making their way out of town.
Real Estate inventory also takes a breather on the week leading up to Labor Day as well as a few days after. Subsequently you will see a spike in inventory starting on the 10th of September. Most sellers do not want to compete with the holiday especially since many buyers are out of town during this time frame and many Realtors also tend to take off during this time frame also.
So far rates remain at historic lows with the average 30 year fixed rate as low as 3.875% with many of the local direct lenders. There are also interest only programs and adjustable rate mortgages that are down near 2.75% which is ideal for home buyers with a 5-7 year time horizon on making a move up.
As of today, inventory across the East Bay market currently stands at 3,711 active properties and 3,863 pending properties. Those are strong numbers as there are slightly fewer active properties than pending. This is still a sign of a "seller's market". Since January 1 this year over 17,165 properties have sold and a bit of welcoming news for the deal seekers with 195 price changes in the past week.
The EastBayPro Team would like to wish you and your family an amazing Labor Day weekend!You can reach our team members at 925-304-6346 - Kevin R Kieffer, Broker Associate - Team Leader for Keller Williams Realty's EastBayPro Team - Our team members include Naomi T Kieffer, Matt Rubenstein, Dana Grant, David P Johnson, Heather Gowdy, Jamie Duvnjak, Scott Maher, Nina Kasper-White & Ken Wilson - Please call and "Let Us Exceed Your Expectations".
Author:Kevin Kieffer Phone: 925-300-8000 Dated: August 27th 2015 Views: 354 About Kevin: Kevin R. Kieffer is a Broker Associate and Realtor with Keller Williams Realty. His focus is the Eas...
Kevin R. Kieffer is a Broker Associate and Realtor with Keller Williams Realty. His focus is the East Bay residential home market. He is a top producing agent and also leads leads successful team of Realtors as one of top producing teams throughout all of California (Real Trends Ranking). He was recognized as a Five Star agent numerous years through an independent survey and has been featured in Diablo Magazine. He closed out 2014 in the top 1% of all agents in Contra Costa & Alameda counties and is currently one of the top producing agents in 2015. He has offices in Danville & Walnut Creek and has a team of experienced Realtors focusing on markets throughout the East Bay. Please give him a call and let him exceed your expectations! Office Phone: 925-304-6346 Cell Phone: 925-300-8000
There is absolutely no correlation with free coffee and the housing ma
"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!"