November 2015 State of Market in Ruby Hill, Pleasanton

Active – As of November 23, 2015 there were 6 active properties ranging from $1469,950-$3995,000.

Pending – 4 Properties ranging from $1469,950-$3995,000

Sold/Closed November 1-November 23, 2015 – During these dates in November there were no reported closings.

Ruby Hill Pleasanton Overview

The average home price in Ruby Hills is $2,599,999, which is 19.1% higher than the average sold price in Ruby Hills ($2,182,500) . The average home price per square foot in Ruby Hills is $448 and about 21% of all homes in Ruby Hills sold in the last 6 months.

Zillow predicts homes in the 94666 Zip Code will rise 2.6% within the next year.

One in Five Home Sellers Is Listing Now in Order to Pull Out a Profit

Here’s a sign that the housing market is approaching something that resembles normalcy: When asked why they’re selling their homes now, respondents to Redfin’s latest survey of 730 home sellers were more likely to cite typical life-cycle motivators like upgrading or downsizing than wanting to get another home under contract before a looming mortgage rate hike.

Last year, 59 percent of sellers cited buying another house before prices or interest rates rise as a top reason to sell. This October, just 16 percent of sellers listed that reason, reflecting the fact that interest rates remain at historically low levels and they have been low on buyers’ list of worries this year. Sellers’ most common answers were wanting a larger or nicer home (29%), relocating to a new city (27%) and wanting a smaller home (21%). This is a big change in sentiment from our October 2014 seller survey, when concern that mortgage rates and home prices would soon rise was home-sellers’ most common motivation.

After the aforementioned life-cycle drivers, sellers’ most common reason for listing now was to pull out the profit they’ve made on their home, with one in five sellers choosing that response. Home sellers in Denver reported using the money they made on homes they bought two to three years ago to pay for graduate school and start small businesses.

“Seller optimism is flying high right now,” Redfin chief economist Nela Richardson said. “But buyers are more grounded now and pricing a home too high is risky. More sellers are having to drop their initial asking price this fall than a year ago. ”

Sellers this year are more confident than last year that the market is in their favor. When asked to describe the current balance of power in the market, 60 percent of respondents said sellers had the power, up from 46 percent last year. Asked to predict where prices will go in 2016, 63 percent said up. Among respondents who are waiting to sell, 27 percent said they aren’t listing quite yet because they think home prices will rise more.

All this positivity is enticing sellers to list at higher prices.

“Many sellers are coming to the market with an expectation that their home will sell for the same amount their neighbor’s did three months ago, but that’s no longer an accurate reflection of the market,” said Boston Redfin agent Scott Driscoll. “Even more than normal for this time of year, I’m frequently reining in seller’s expectations, advising them to consider the very latest data on nearby sales and homebuyer demand.”

Reasons for selling Resized

Sellers Have Concerns Too

It wasn’t all optimism from sellers last month. Respondents voiced general economic conditions discouraging buyers (32%), not finding another home they want (28%) and prices falling before their home sells (28%) as their most common concerns about selling.

If you need to know more about Ruby Hill Real Estate or Homes for sale in Ruby Hill Pleasanton, please feel free to reach out to me and I would be happy to help answer all your questions.

This information has been compiled from the CAR website, Redfin, MLS Data, Zillow, Bay East Association of Realtors, Helpusellachievers.com

Meena Gujral – BRE#00950378

Ruby Hill Resident and Home Owner

925-425-9491

meenagujral@comcast.net

http://www.helpusellachievers.com

Looking to sell your Home? Call Meena to save Thousands

State of Ruby Hills Pleasanton in October 2015

Here is the October 2015 State of Market in Ruby Hill, Pleasanton

Active – As of October 26, 2015 there were 13 active properties ranging from $1,295,000- $4,250,000.

Pending – 5 Properties ranging from $2,250,000-$5,399,000

Sold/Closed October 1- October 26, 2015 – 4 properties ranging from $2,349,000-5,948,000

Ruby Hill Pleasanton Overview

The average home price in Ruby Hills is $2,588,000, which is 17% higher than the average sold price in Ruby Hills ($2,212,500) . The average home price per square foot in Ruby Hills is $446 and about 22% of all homes in Ruby Hills sold in the last 6 months. (Realtor.com)

Zillow predicts homes in the zip code 94566 will rise 4.0% within the next year.

Lifestyle for Ruby Hill Pleasanton

California housing market won’t slow down in 2016

California’s housing market will continue to improve into 2016, but a shortage of homes on the market and a crimp in housing affordability also will persist, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2016 California Housing Market Forecast.”

The C.A.R. forecast sees an increase in existing home sales of 6.3 percent next year to reach 433,000 units, up from the projected 2015 sales figure of 407,500 homes sold.

Sales in 2015 also will be up 6.3 percent from the 383,300 existing, single-family homes sold in 2014.

C.A.R.’s forecast projects growth in the U.S. Gross Domestic Product of 2.7 percent in 2016, after a projected gain of 2.4 percent in 2015.

The state’s unemployment rate should decrease to 5.5 percent in 2016 from 6.3 percent in 2015 and 7.5 percent in 2014.

The average for 30-year, fixed mortgage interest rates will rise only slightly to 4.5 percent but will still remain at historically low levels.

The California median home price is forecast to increase 3.2 percent to $491,300 in 2016, following a projected 6.5 percent increase in 2015 to $476,300. This is the slowest rate of price appreciation in five years.

C.A.R. Vice President and Chief Economist Leslie Appleton-Young commented, “The foundation for California’s housing market remains strong, with moderating home prices, signs of credit easing, and the state continuing to lead the nation in economic and job growth.”

If you need to know more about Ruby Hill Real Estate or Homes for sale in Ruby Hill Pleasanton, please feel free to reach out to me and I would be happy to help answer all your questions.

This information has been compiled from the CAR website, Redfin, MLS Data,Trulia, Zillow, Bay East Association of Realtors, Helpusellachievers.com and Realtor.com.

Meena Gujral – BRE#00950378

Ruby Hill Resident and Home Owner

925-425-9491

meenagujral@comcast.net

http://www.helpusellachievers.com

Looking to sell your Home? Call Meena to save Thousands

September 2015 State of Market in Ruby Hill, Pleasanton

Active – As of October 1, 2015 there were 15 active properties ranging from $1,350,000- $4,250,000.

Pending – 8 Properties ranging from $2,250,000-$5,748,000

Sold/Closed September 1-September 30, 2015 – 4 properties ranging from $1,290,000-$2,800,000

Pleasanton 94566 Overview

The median sales price for homes in ZIP code 94566 for Jun 15 to Sep 15 was $1,025,000.Sales prices have appreciated 36.2% over the last 5 years in 94566, Pleasanton. The median sales price of $1,025,000 for 94566 is 11.26% higher than the median sales price for Pleasanton CA.

Average price per square foot for homes in 94566 was $487 in the most recent quarter, which is 2.31% higher than the average price per square foot for homes in Pleasanton.

REALTORS® Confidence Index

Market activity broadly improved in August 2015 compared to a year ago.

Compared to July 2015, market activity seasonally slowed down.
Sustained job growth and low interest rates, with the 30-year fixed mortgage rate back to less than four percent in August, appear to be boosting demand. Meanwhile, tight inventory and rising home prices are moderating demand.
The confidence indices for current conditions and the six-month outlook for single-family, townhome, and condominium properties all increased compared to a year ago.
Tight inventories of available homes, decreasing affordability, continued tight mortgage availability, and slow/excessively conservative appraisals were the main issues reported by respondents.
Many respondents expressed concern that the new disclosure regulations that take effect on October 3 may delay closings, although nearly 90 percent of respondents reported taking measures to be ready for the implementation, such as attending seminars, coordinating with lenders, and revising model contracts in line with guidelines.S&P/Case-Shiller: July sees amazing annual home-price gains.“Prices of existing homes and housing overall are seeing strong growth and contributing to recent solid growth for the economy,” says David Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. “The S&P/Case Shiller National Home Price Index has risen at a 4% or higher annual rate since September 2012, well ahead of inflation. Most of the strength is focused on states west of the Mississippi.”
The three cities with the largest cumulative price increases since January 2000 are all in California: Los Angeles (138%), San Francisco (116%) and San Diego (115%). The two smallest gains since January 2000 are Detroit (3%) and Cleveland (10%).
U.S. National Home Price Index recorded a slightly higher year-over-year gain with a 4.7% annual increase in July 2015 versus a 4.5% increase in June 2015.

This information has been compiled from the CAR website, Redfin, MLS Data,Trulia, Zillow, Bay East Association of Realtors, Helpusellachievers.com and Realtor.com.

Meena Gujral – BRE#00950378

Ruby Hill Resident and Home Owner

925-425-9491

meenagujral@comcast.net

http://www.helpusellachievers.com

“Dream of Homes, I get you there”

State of Ruby Hill Market for July 2015

Here is the July 2015 State of Market in Ruby Hill, Pleasanton

Active – As of August 3rd, 2015 there were 19 active properties in Ruby Hill ranging from $1,399,950- $5,948,000.

Pending – 9 Properties ranging from $1,335,000-$5,399,000

Sold/Closed July 1- July 31, 2015 – 6 properties ranging from $2,062,500-$3,150,000

Pleasanton 94566 Overview

The median sales price for homes in ZIP code 94566 in Pleasanton from Apr 15 to Jul 15 was $1,060,000 based on 155 sales. Compared to the same period one year ago, the median sales price increased 17.8%, or $160,000, and the number of sales decreased 14.4%. Average price per square foot for homes in 94566 was $488, an increase of 11.4% compared to the same period last year.

The average listing price for homes for sale in 94566 was $1,516,593 for the week ending Jul 22, which represents a decrease of 4%, or $62,560, compared to the prior week.

REALTORS® Confidence Index

In June, REALTORS® were by and large “strongly confident” about the outlook over the next six months compared to a year ago, although confidence appears to have eased somewhat compared to May.
REALTORS® generally continued to report “strong” local market conditions in June for single-family and townhome properties.
Sustained job creation at a pace of 220 thousand jobs per month in 2015, the reduction in the FHA’s annual mortgage insurance premium rates which took effect January 2015,4 and the acceptance of Fannie Mae and Freddie Mac of three percent down payment loans since early this year appear to be facilitating improved market confidence.June Pending Sales and Market Pulse SurveyCalifornia pending home sales were up 12.5 percent on an annual basis from the revised 107 index recorded in June 2014, marking the seventh straight month of year-to-year gains and the fifth straight month of double-digit advances.A shortage of available homes in the San Francisco Bay Area stifled pending sales in June, pushing the PHSI to 127.9, down 5.3 percent from 135.1 in May and down 0.9 percent from the 129.1 index recorded in June 2014. Ruby Hill Resident and Home Ownermeenagujral@comcast.net”Dream of Homes, I get you there”
http://www.meena.realtor
925-425-9491
Meena Gujral – BRE#00950378
This information has been compiled from the CAR website, Redfin, MLS Data,Trulia, Zillow, Bay East Association of Realtors, Helpusellachievers.com and Realtor.com.

State of Ruby Hill Pleasanton Market in June 2015

Here is the Current Properties Status in Ruby Hill, Pleasanton

Active – As of July 1, 2015 there were 24 active properties in Ruby Hill ranging from $1,350,000- $5,948,000.

Pending – 6 Properties ranging from $1,335,000-$3,198,000

Sold/Closed June 1- June 30, 2015 – 9 properties ranging from $1,485,000-$3,300,000

Pleasanton 94566 Overview

The median sales price for homes in ZIP code 94566 in Pleasanton from Mar 15 to Jun 15 was $985,000 based on 125 sales. Compared to the same period one year ago, the median sales price increased 9.4%, or $85,000, and the number of sales decreased 22.8%. The average listing price for homes for sale in 94566 was $1,607,631 for the week ending Jun 17, which represents an increase of 1.2%, or $18,319, compared to the prior week.

REALTORS® Confidence Index

The REALTORS^® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions. In addition, the “Questions of the Month,” feature results of a timely aspect of the housing market.

For the fifth month in a row, the REALTORS® Confidence Index-Six-Month Outlook was viewed as strong by more respondents than those that viewed the market as weak.
First-time homebuyers accounted for 32 percent of sales, up from 27 percent a year ago and 30 percent in April 2015.
Inventory, though improving, remained tight relative to demand, so properties typically sold within 40 days nationally.
Distressed properties remained at 10 percent of sales, purchases for investment purposes at 14 percent of sales, and cash sales at 24 percent of sales.

Respondents noted several issues weighing down the market’s momentum:

Tight inventory
Financing issues: difficulty in qualifying for a mortgage due to higher FICO credit score and down payment standards, protracted mortgage approval process
Appraisal issues: conservative estimates, use of “out-of-town appraisers,” slow turnaround
TRID regulations that may delay closing/settlement of transactions
Dampening effect of higher interest rates in the future (although anticipation of higher rates can spur demand in the short-term)
Declining demand from international buyers due to a strong U.S. dollar
Lack of FHA-approved condominiums

This information has been compiled from the CAR website, Redfin, MLS Data,Trulia, Zillow, Bay East Association of Realtors ,Helpusellachievers.com and Realtor.com.

Meena Gujral – BRE#00950378

925-425-9491

http://www.meena.realtor

“Dream of Homes, I get you there”

meenagujral@comcast.net

Ruby Hill Resident and Home Owner

State of Ruby Hill market in May 2015

Active – As of June 1, 2015 there were 22 active properties in Ruby Hill ranging from $1,335,000- $5,948,000.

Pending – 8 Properties ranging from $1,440,000-$2,850,000

Sold/Closed May 1- May 31, 2015 – 3 properties ranging from $2,099,000-$2,599,000

Pleasanton 94566 Overview

The median sales price for homes in ZIP code 94566 in Pleasanton from Feb 15 to May 15 was $975,000 based on 97 sales. Compared to the same period one year ago, the median sales price increased 10.5%, or $92,250, and the number of sales decreased 28.7%. Average price per square foot for homes in 94566 was $463, an increase of 4.8% compared to the same period last year. The average listing price for homes for sale in 94566 was $1,692,441 for the week ending May 27, which represents a decrease of 4%, or $71,266, compared to the prior week.

Luxury Home Prices Exhibit Little Growth in Q1

Los Angeles, Miami Beach and San Francisco Lead the Top 20 Areas for Most Expensive Properties

In San Francisco Luxury Prices Are Just 4 times above the Rest of the Market

Sales of million-dollar-plus homes surged in the first three months of the year, holding their ground against a slumping economy. But the luxury market, which Redfin defines as the priciest 5 percent of properties, didn’t see a corresponding jump in values. Luxury home prices grew at their slowest pace in three years, rising less than 1 percent from the same period a year ago. For the bottom 95 percent of homes, values advanced at a steady 4.3 percent.

Posh properties took longer to sell, too. The average luxury home sat on the market 96 days, up from 92 in the first quarter of 2014. For the rest of the market, houses took an average of 72 days to sell, the same as last year. While it’s normal for high-end homes to go unsold longer due to their weighty price tags, demand for those properties is slowing as price-conscious and first-time buyers make up a greater share of house hunters.

Housing Affordability Is Up As National Homeownership Month Begins

Housing affordability is up nationwide due to low interest rates and home prices as National Homeownership Month begins in June, according to a recent release from the National Association of Home Builders (NAHB).

The latest NAHB/Wells Fargo Housing Opportunity Index released in mid-May reports that about two-thirds of new and existing homes sold in the first quarter of 2015 were affordable to families that earned $65,800, which is the U.S. median yearly income, according to NAHB. Meanwhile, the median home price nationwide dropped by $5,000 from the fourth quarter of last year to the first quarter of 2015 (from $215,000 down to $210,000) while interest rates dropped from 4.29 percent down to 4.03 percent during the same time frame.

In addition to lower prices and interest rates, low-down payment programs offered by Fannie Mae and Freddie Mac can help creditworthy borrowers who cannot afford a large downpayment qualify for a mortgage. These programs offer downpayments as low as 3 percent for eligible first-time homebuyers.

“Now is a great time for consumers to buy homes,” said NAHB Chairman Tom Woods, a home builder from Blue Springs, Missouri. “Both first-time and move-up buyers can take advantage of these favorable market conditions and start building their American Dream.”

Homeownership carries with it financial benefits, according to the NAHB, since it is often a primary source of net worth and a step toward accumulating long-term personal financial assets. Homeowners can also deduct mortgage interest and property taxes paid from their taxable income, which can result in thousands of dollars in savings, particularly in the first few years of a mortgage when the largest percentage of the monthly mortgage payment is made up of interest.

Benefits of homeownership are not just financial, however, according to Woods.

“Homeownership builds stronger communities, provides a solid foundation for family and personal achievement and improves the quality of life for millions of people,” Woods said.

This information has been compiled from the CAR website, Redfin, MLS Data,Trulia, Zillow, Bay East Association of Realtors ,Helpusellachievers.com and Realtor.com.

Meena Gujral – BRE#00950378

Ruby Hill Resident and Home Owner

925-425-9491

State of Ruby Hill Pleasanton in April 2015

Active – As of May 1, 2015 there were 13 active properties in Ruby Hill ranging from $1,949,000- $5,948,000.

Pending – 11 Properties ranging from $1,399,950-$2,985,995

Sold/Closed April 1- April 30, 2015 – 6 listings ranging from $1,700,000 – $2,500,000

Pleasanton 94566 Overview

The median home value in 94566 is $963,200. 94566 home values have gone up 6.5% over the past year and Zillow predicts they will rise 3.2% within the next year.

As per Trulia, Average price per square foot for homes in 94566 was $452, an increase of 5.4% compared to the same period last year. The average listing price for homes for sale in 94566 was $1,548,157 for the week ending Apr 22, which represents an increase of 3.2%, or $47,651, compared to the prior week.

Pleasanton-94566-1 year The Market Action Index was developed so that you can immediately know if it’s a Buyer’s or Seller’s market. 30+ indicates a Seller’s market.

Double-digit gain in annual pending home sales suggests market will continue its upswing coming months, C.A.R. reports

Pending sales in San Francisco Bay Area, Southern California, and Central Valley regions jump

LOS ANGELES (April 22) – California pending home sales jumped in March to record three straight month-to-month and year-to-year sales increases, portending a solid upcoming spring home-buying season, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

Pending home sales in the San Francisco Bay Area, Southern California, and Central Valley regions also posted back-to-back, double-digit monthly gains compared to February.

California pending home sales propelled higher in March, with the Pending Home Sales Index (PHSI)* increasing 16.3 percent from a revised 111.9 in February to 130.2, based on signed contracts. The month-to-month increase was essentially unchanged from the long-run average increase of 16.8 percent observed in the last seven years.
Statewide pending home sales were up 13.8 percent on an annual basis from the 114.4 index recorded in March 2014. The yearly increase was the second largest since April 2009 and was the fourth consecutive annual gain.
San Francisco Bay Area’s PHSI stood at 146.6 in March, up 17.4 percent from 124.8 in February and up 7.2 percent from 136.7 percent in March 2014.

Lawrence Yun, NAR chief economist, says contract signings picked up in March as more buyers than usual entered this year’s competitive spring market. “Demand appears to be stronger in several parts of the country, especially in metro areas that have seen solid job gains and firmer economic growth over the past year,” he said. “While contract activity being up convincingly compared to a year ago is certainly good news, the increased number of traditional buyers who appear to be replacing investors paying in cash is even better news¹. It indicates this year’s activity is being driven by more long-term homeowners.”

Yun expects a gradual improvement in home sales in the months ahead but says insufficient supply and accelerating prices could be a drawback to sales reaching their full potential.

“Demand in many markets is far exceeding supply, and properties in March sold at a faster rate than any month since last summer²,” he said. “This in turn has pushed home prices to unhealthy levels — nearly four or more times above the pace of wage growth in some parts of the country. Simply put, housing inventory for new and existing homes needs to improve measurably to improve affordability.”

This information has been compiled from the CAR website, Redfin, MLS Data,Trulia, Zillow, Bay East Association of Realtors, Helpusellachievers.com and Realtor.com.

Meena Gujral – BRE#00950378

Ruby Hill Resident and Home Owner

925-425-9491

meenagujral@comcast.net

http://www.meena.realtor

State Of Ruby Hill Pleasanton Market in March 2015

Active – As of April 1, 2015 there were 11 active properties in Ruby Hill ranging from $1,399,950- $5,948,000.

Pending – 10 Properties ranging from $1,699,950-$2,850,000

Sold/Closed March 1- March 31, 2015 – 4 listings ranging from $1,499,000 – $2,850,000

February 2014-2015 Market Statistics for Pleasanton

Pleasanton 94566 Overview

The median sales price for homes in ZIP code 94566 in Pleasanton from Dec 14 to Mar 15 was $935,000 based on 61 sales. Compared to the same period one year ago, the median sales price increased 8.3%, or $72,000, and the number of sales decreased 31.5%. Average price per square foot for homes in 94566 was $449, an increase of 5.4% compared to the same period last year.

The average listing price for homes for sale in 94566 was $1,817,614 for the week ending Mar 04, which represents a decrease of 3.5%, or $66,899, compared to the prior week.

California pending home sales climb in February to post biggest annual increase in nearly six years

California pending home sales jumped in February, with the Pending Home Sales Index (PHSI)* increasing 24.8 percent from a revised 89.9 in January to 112.2, based on signed contracts. The month-to-month increase easily topped the long-run average increase of 17.9 percent observed in the last seven years.

Statewide pending home sales were up 15.6 percent on an annual basis from the 97.1 index recorded in February 2014. The yearly increase was the largest since April 2009 and was the first double-digit gain since April 2012.

San Francisco Bay Area’s PHSI stood at 124.8 in February, up 23.3 percent from 101.2 in January and 13.1 percent from 110.3 percent in February 2014.

This information has been compiled from the CAR website, Redfin, MLS Data,Trulia, Zillow, Bay East Association of Realtors ,Helpusellachievers.com and Realtor.com.

Meena Gujral – BRE#00950378

meena.gujral@comcast.net

http://www.meena.realtor

State of Ruby Hill Pleasanton market for February 2015

Active – As of March 1, 2015 there were 4 active properties in Ruby Hill ranging from $1,635,000- $5,948,000.

Pending – 7 Properties ranging from $1,499,000-$2,885,000

Sold/Closed February 1- February 28, 2015 – 4 listings ranging from $1,299,000 – $2,699,000

February 2014-2015 Market Statistics for Pleasanton

Pleasanton 94566 Overview

The median sales price for homes in ZIP code 94566 in Pleasanton from Nov 14 to Feb 15 was $940,000 based on 77 sales. Compared to the same period one year ago, the median sales price increased 7.1%, or $62,500, and the number of sales decreased 18.9%. Average price per square foot for homes in 94566 was $450, an increase of 7.7% compared to the same period last year. The average listing price for homes for sale in 94566 was $1,536,038 for the week ending Feb 11, which represents an increase of 8.5%, or $120,639, compared to the prior week.

2015 Could Be the Biggest Year for Housing Since the Bust

6.3% Growth in New Listings and Record-Setting Buyer Demand Indicate Strongest Start to the Housing Market in Six Years

More sellers are putting properties on the market. The number of homes listed for sale increased 6.3 percent in January from a year earlier. More homes went on the market in January than any other month since August 2013.

Fresno, California, saw stronger year-over-year price growth than any other market at 14.2%, along with higher sales and more new listings. The median sale price in Fresno was $211,200 in January

This information has been compiled from the CAR website, Redfin, MLS Data, Trulia, Zillow, Bay East Association of Realtors website and Realtor.com.

Meena Gujral – BRE#00950378

meena.gujral@comcast.net

http://www.meena.realtor

Agent specializing in the East Bay – Pleasanton, Ruby Hill, Fremont, Castro Valley, Dublin, San Ramon

Try to price my home above market for a few weeks in Ruby Hill, Pleasanton, CA?

Overpricing your home will attract fewer potential buyers and may cause it to sit on the market for longer than desired. To a buyer, too much time on the market indicates an overpriced property that is perceived as an opportunity to negotiate a price lower than the market might typically bear.

Pricing your home competitively at the start will create more activity among brokers and buyers and will decrease the time it takes to sell.