9/21/08

 

If you missed the recent article by Contra Costa's Assessor, Gus Kramer you missed a very clear call to action. His quote says it all, "As the assessor of Contra Costa county since 1995 and a student of the real estate market of the East Bay since 1971, I've never felt more compelled and stronger about advising anyone and everyone who ever thought about getting into the real estate market to do it now. The assessor does say that prices will still go down a little lower until the end of 2008, notwithstanding he feels purchasing now is a must. On a year to year basis our local market has been performing impressively if you just look at the numbers. Active listings are down 21% while pending sales are up a stunning 83% over this time last year. Now, of course, when we break it down we see the bulk of sales activity in the entry & mid tier price points with many of those transactions bank owned and short sales.Our high end market continues to struggle. There are 66 listings priced at $1 million or more in Livermore. There are only 5 pending sales in this price range. Clearly we have an investor and first time buyer driven market! The move up buyer is still holding back in Livermore-Pleasanton. Larry & Kathleen 800 868-2070 .