This year was filled with many ups and downs for those looking to buy or sell a home.
For those who were buying the tax credit combined with declining prices were probably good news.
For those looking to sell a home declining prices were the opposite. In Alameda we suffered from a low inventory. Which made the good homes on the market even more competitive.
I worked with many first time home buyers this year. Many were excited to be bidding on homes they might have been priced out of even a year ago. Despite whatever was going on in the media I still found myself in competetive bidding situations with almost all my buyers. The national news stories about the real estate market give you very basic and general information about what is going on. Particular area's in Alameda remained strong but more specifically particular homes were the hot ticket... or not. Great presentation combined with a competitive price brought in multiple offers. Even lousy presentation but a great starting price on a bungalow brought in multiple offers. I see prices stabilizing and can expect the same to continue through the beginning of the year. This spring and summer will be a litmus test to see if we have really turned a corner and are on our way back to a "healthy" housing market.
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