Tom Schieber - Brentwood Real Estate, Brentwood Homes, Brentwood Homes for Sale » Featured Posts

Deer Ridge, Brentwood Real Estate Update April ’11

Tom Schieber — Fri, 29 Apr 2011 19:55:51 +0000

Deer Ridge in Brentwood is seeing a good level of real estate activity, given the overall state of the market in Brentwood. The beautiful golf course community on the south side of Balfour Road on the West end of town, has proven to be one of the most desirable neighborhoods in Brentwood.

There are currently 14 homes for sale in Deer Ridge, with an average list price of $380,000 (about $10,000 less than the average from the same report a year ago). Of the 14 homes for sale, 11 of those listings are potential short sales, one is a traditional sale and two are bank-owned listings (REO). The highest list price in Deer Ridge among active listings is $549,888. The lowest is at $289,000.

There are 31 Pending Sales in Deer Ridge, with an average list price of $380,476. Only eight of the 38 pending sales are not short sales. The highest list price among pending sales is $525,000. The lowest is at $225,000.

There were 7 Closed Sales in Deer Ridge in April 2011. The average sales price for homes in the neighborhood was $353,685, with the highest sale at $389,900 and the lowest was at $301,000. Four of the Seven sold listings were short sales.

Year-to-date there have been a total of 37 homes sold in Deer Ridge. The average sold price is $382,037, just below the average list price of $385,167. The highest sale was $688,500 for a 4843 sqft home on Camel Back Road that was listed for sale at $750,000. It was on the market for a total of 121 days.

Note: There is a file embedded within this post, please visit this post to download the file.

To search for homes for sale in Deer Ridge, Brentwood CA visit http://www.tomschieber.com/home-search/

To search foreclosures in Brentwood CA for free visit http://www.tomschieber.com/foreclosures/

SOLD: 656 English Oak Court, Brentwood CA

Tom Schieber — Thu, 31 Mar 2011 21:22:23 +0000

Desirable single story home for sale in Brentwood’s Deer Ridge Golf course community. Large corner lot with views for miles. Granite kitchen, upgraded cabinets, new appliances. 4 Beds plus huge den/office. Formal living and dining rooms. Spacious family room-kithcen combo. Turn-key condition. Related posts:SOLD: 148 Cardinal Lane, Discovery Bay CA 2701 Rancho Canada Dr, Brentwood [...] Related posts:

Existing Home Supply Down 40% In Last 6 Months

Tom Schieber — Thu, 24 Feb 2011 13:50:58 +0000

Home resales rose another 2.7 percent last month, according to the National Association of REALTORS® monthly Existing Home Sales report.

An “existing home” is a home that’s been previously occupied and is not considered new construction.

The number of existing homes sold on a rolling 12-month basis is now at its highest point since May 2010, the month before the federal homebuyer tax credit ended. It’s also up some 40% since July 2010, the month after the tax credit ended.

But that’s not the biggest story in the Existing Home Sales report. The precipitous decline in home inventory deserves more attention.

At the current pace of sales, the complete, national home resale inventory will be sold in 7.6 months. This is close to 5 months faster as compared to last year’s peak, and well below the 2-year home supply average of 9.0 months. There more buyers in the market, it seems, and fewer homes from which they can choose.

Total home resale inventory is down to just 3.38 million homes nationwide — the fewest in 12 months.

There were other interesting statistics in the official Existing Home Sales report, including a break-down of purchases by buyer-type.

First-time buyers accounted for 29% of purchases, down from 33% in January
Repeat homebuyers accounted for 48% of purchases, up from 47% in January
Investors accounted for 23% of of purchases, up from 20% in January

In addition, distressed sales — foreclosures and short sales — made up 37 percent of the market.

Over the next few days, more housing data will hit the wires and it’s expected to show similar strength to January’s Existing Home Sales report. With falling supplies and a growing base of move-up buyers, home prices in Brentwood and around the country are expected to rise in the coming months ahead.

Going On Vacation? Don’t Tell The Burglars!

Tom Schieber — Tue, 22 Feb 2011 13:52:28 +0000

Want to help keep your home safe from burglars while on vacation? One smart way is to refrain from announcing your plans on various social networks such as Facebook.

There’s other common-sense tips, too, as shared in this 4-minute video from NBC’s The Today Show.

Drawing from a series of interview with former convicts, you’ll learn that there’s more to keeping your home safe than just locking the doors and windows, and setting the alarm system for “away”. You’ll also want to make sure your home looks “lived in”.

And some of these tricks you may have never thought of.

For example, while on vacation:

Make sure a neighbor is picking up your mail and newspapers daily
If it snows, have a friend drive tracks in your driveway, or shovel it clean
Set inside lights to a timer, giving the appearance someone being home

In addition, if you don’t have a safe for valuables, consider moving them to a child’s room. It’s among the last places a burglar looks.

You can’t make your home 100% safe from intruders but you can make your home a tougher target. Just use some common sense and follow the tips in the video.

Fed Minutes Show Lower Unemployment And Higher Growth For 2011 and 2012

Tom Schieber — Fri, 18 Feb 2011 13:51:27 +0000

The Federal Reserve released its January 25-26, 2011 meeting minutes Wednesday afternoon. California mortgage rates have been in flux since.

Fed Minutes are comprehensive recaps of Federal Open Market Committee meetings; a detailed look at the debates and discussions that shape our nation’s monetary policy. As such, they’re released 8 times annually; 3 weeks after the most recent FOMC meeting.

Fed Minutes can be viewed as the unabridged version of the succinct, more well-known “Fed Statement” that’s released to markets immediately post-adjournment.

Just how much more lengthy are Fed Minutes?

The January 25-26, 2011 statement contains 395 words
The January 25-26, 2011 meeting minutes contains 6,916 words

If the Fed Statement is an executive summary, the Fed Minutes is a novel. And, the extra words matter.

When the Federal Reserve publishes its minutes, it’s offering clues about the group’s next policy-making steps. As an example, in the January minutes, the Fed improved its outlook for economic growth; lowered its projections for the Unemployment Rate; and removed its concern for deflation.

In addition, the Fed discussed the potential for food-and-energy-cost-induced inflation, but labeled it as a minor economic risk at this point in time.

Bond markets are mixed on the text of the Fed Minutes.

Although the Fed indicates a willingness to allow inflation to occur, it appears ready to act in case inflation goes too high. One way that the Fed responds to rising inflation is to raise the Fed Funds Rate and many economists believe this will start happening by late-2011 or early-2012.

Mortgage Guidelines Starting To Loosen?

Tom Schieber — Thu, 03 Feb 2011 13:49:52 +0000

Mortgage lending appears to be loosening. At least for now.

In its quarterly survey of member banks, the Federal Reserve asks senior loan officers around the country whether their “prime” residential mortgage guidelines had tightened within the last 3 months.

A prime borrower is one with a well-documented credit history, high credit scores, and a low debt-to-income ratio.

Of the 54 responding banks, just 2 said its guidelines had tightened during the period October-December 2010. That’s less than 4 percent. And, by comparison, 95 percent of banks said guidelines remained “basically unchanged”.

The remaining banks reported a loosening.

It’s a positive sign for the housing market, and for home buyers in Brentwoo, Discovery Bay and nationwide. If banks have stopped raising the hurdles of home loan approval, in theory, more would-be buyers will be approved.

It’s much tougher to get a home loan versus 5 years ago. Delinquencies and defaults have changed how banks review loan applications. Today’s underwriters are more conservative with respect to household income, total assets and overall credit scores.

Even as compared to January 2010, approval standards are higher :

Minimum credit score requirements are higher
Downpayment/equity requirements are larger
Maximum allowable debt-to-income ratios have been lowered

Although mortgage rates remain low, qualification standards do not. Based on last quarter’s banking survey, however, mortgage applicants in California may find approvals easier to come by soon. Low rates don’t matter, after all, if you’re not eligible to get them.

The housing market is strong and lending looks to be loosening. It should help fuel the demand for homes in 2011, which will push supplies down and lead prices up. For homeowners that qualify, therefore, the best time to purchase a home may be sometime this spring.

Practical Advice : How To Help Your Home Sell Faster

Tom Schieber — Wed, 02 Feb 2011 13:52:33 +0000

In December, home sales reached an 8-month high, recovering from the losses of last summer. Market momentum is positive across California , but that doesn’t mean every home is selling quickly — only some of them are.

So, if you’re a home seller and want (or need) to get your home sold quickly, take a listen to this 3-minute interview from NBC’s The Today Show. It’s loaded with practical sales advice for sellers. (I can get you professional photos and virtual tours for about $100 by the way.)

As examples:

How to price your home relative to comparable homes for sale
Using home inspections to keep your contract on-track for closing
How much should be spent on your “home photos” that are shown online

The interview also covers about the 3 key places of a home on which to spend money — the kitchen, the living area, and the front facade. And for good reason — they’re emotional hooks for buyers that help sell homes.

In any market, selling a home can be a challenge. It can be easier by applying common sense.

Homes for Sale in Brentwood CA under $250,000

Tom Schieber — Tue, 01 Feb 2011 19:59:11 +0000

Showing properties 1 - 5 of 24. See more city of Brentwood real estate.
(all data current as of 2/3/2012)

$250,000 : 562 Almanor Street, BRENTWOOD

4 beds, 2 full, 1 part baths

Home size: 2,049 sq ft

Lot size: 3,710 sq ft
$198,000 : 330 GLADSTONE DR, BRENTWOOD

2 beds, 2 full baths

Home size: 1,022 sq ft

Lot size: 3,364 sq ft
$235,000 : 562 STANWICK ST, BRENTWOOD

3 beds, 2 full baths

Home size: 1,973 sq ft

Lot size: 9,920 sq ft
$233,900 : 3020 SHILES LOOP, BRENTWOOD

4 beds, 2 full, 1 part baths

Home size: 1,893 sq ft

Lot size: 4,965 sq ft
$239,900 : 1175 TROPICANA LN, BRENTWOOD

4 beds, 2 full, 1 part baths

Home size: 1,939 sq ft

Lot size: 4,225 sq ft

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Pending Home Sales At The Highest Levels Since April 2010

Tom Schieber — Tue, 01 Feb 2011 13:51:36 +0000

Another day, another strong report for housing.

The Pending Home Sales Index climbed 2 percent in December, according to the National Association of REALTORS®. A “pending home sale” is an existing home under contract to sell, but not yet closed.

Pending Home Sales are up for the fifth time in 6 months. The December reading is now its highest since the federal home buyer tax credit’s April 2010 contract deadline, and the figure is well north of the Pending Home Sales Index 3-year average.

Coupling this data with December’s strong Existing Homes Sales report (+12%) and its strong New Home Sales report (+17%), it’s clear that the housing market has past its trough and is in Recovery Mode.

Even consumer confidence is at an 8-month high.

On a regional basis, December’s Pending Home Sales Index varied as compared against November. The South region led the way, and the West region lagged.

Northeast Region: +1.8%
Midwest Region : +8.0%
South Region : +11.5%
West Region : -13.2%

Home buyers in East Contra Costa would do well to study last month’s Pending Home Sales Index. It offers clues of what to expect during the spring buying season. For example, according to the National Association of REALTORS®, 80 percent of homes under contract close within 60 days.

Therefore, we can look at the December Pending Home Sales Index and project, with a high level of confidence, that home sales will be higher throughout February and March on a units-basis.

Furthermore, because the Existing Home Sales and New Home Sales reports show that housing stock is falling nationwide, spring buyers in Brentwood CA and Discovery Bay will notice more competition for the available housing stock. As the Supply-and-Demand curve shifts towards sellers, home prices rise.

While the numbers of homes closed/pending/for sale in Brentwood CA has remained basically flat, we saw more homes come on to the market in January than in any single month last Spring or Summer. If that trend continues, and the regional numbers are an indication of the pace of the market heading into the spring, then we can expect a brisk market this Spring and Summer out here. I am already hearing lots of multipe-offer stories – the kind of talk that was lacking last Summer out here in Brentwood.

In other words, there’s no rush to buy a home, but as the year progresses, home prices are expected to rise, as are mortgage rates. This one-two combination will impact home affordability negatively. And the higher that mortgage rates go, the worse the damage.

Your home-buying dollar won’t go as far in 2011′s second half as it will go right now. If you have plans to buy a home in 2011, consider moving up your time-frame.

New Home Activity Comes Back to Brentwood, Oakley – Sales Reach 8-Month High Nationally

Tom Schieber — Fri, 28 Jan 2011 13:52:39 +0000

Sales of new homes rose sharply in December, posting a 17.5 percent gain from the month prior.

According to the Department of Housing and Urban Development, New Home Sales climbed to 329,000 in December, besting November by close to 50,000 units on a seasonally-adjusted annual basis.

Last month’s reading is an 8-month high for New Home Sales, and the latest in a series of signals that housing is improving in the Bay Area and around the country.

Note that December’s Existing Homes Sales and Building Permits reports also showed marked gains last month, climbing 12 percent and 6 percent, respectively.

Furthermore, an interesting pattern is emerging in the price points of home sales. The highest levels of relative growth are occurring within the “move-up buyer” segments. Entry-level price points are lagging the market, as a whole.

December’s New Home Sales data breaks down by price point as follows:

Homes under $200,000 : 36% of the market (-9% from November)
Homes between $200,000-$299,999 : 32% of the market (+7% from November)
Homes between $300,000-$499,999 : 27% of the market (+7% from November)

Luxury homes accounted for less than 5% of the newly-built home market, suggesting that California homeowners are either not “buying new” as frequently, or are choosing to renovate their existing properties instead.

The 2010 housing market finished on a tear, and that momentum is carrying forward into 2011. Expect the spring season to show strongly, putting pressure on home prices to rise.

Coupled with rising mortgage rates, the long-term cost of homeownership is unlikely to be as low as it is today.

Locally, new home builders have come back to Brentwood and Oakley. We’re seeing Meritage taking over subdivision and building at Carmel Estates near Minnesota and Sand Creek as well as the Mariposa neighborhood off of O’Hara at Grant. DR Horton and Standard Pacific have resumed development of new homes in Brentwood in the Garin Ranch and Sunset Crossings areas, and Centex (formerly Pulte) has built new floor plans over at Magnolia Park in Oakley, near Freedom High School.

Call me for all the scoop on new homes in Brentwood and Oakley – I’ve got some recent price lists and floor plans from the different new home developments. And don’t forget that there are real advantages to working with a real estate agent even when dealing with new home builders in the area.