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Health & Fitness

Pleasant Hill Real Estate Market Is On The Rise

Pleasant Hill Real Estate Values Rise

A quick look at the local real estate market shows that bank foreclosures and short sales are no longer driving the local real estate market. Distress sales now account for less than 20% of the sold homes in Pleasant Hill. This time last year 53% of all the homes sold in Pleasant Hill were distress sales. What a difference a year makes!  When you combine low distress sales with incredibly low interest rates and a rebounding job market in San Francisco you have a rising real estate market.

 
I believe the local real estate market will kick into high gear again in a few weeks as spring approaches. Demand will continue to be high as buyers who were on the fence waiting for the market to hit bottom now decide to jump right in and start the buying process. The mood of both investors and traditional home buyers has shifted. I haven’t seen buyers so eager to buy since 2005.


The supply of bank foreclosures will continue to be low through 2013 because of changes in the way banks must handle the foreclosure process. I expect home prices will continue their upward climb through all of 2013 as long as economic conditions continue in the same direction. The bond market, which ultimately controls interest rates, is the factor to watch in 2013. As long as interest rates remain this low home prices will go up.

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Homeowners will be pleasantly surprised by their rising equity. Plenty of homeowners who could not refinance or sell their homes just last year because they were underwater will be able to refinance or sell in 2013. If you wanted to sell your home but thought you were unable to because of the drop in values, give me a call. The recent  uptick in home values may have given you some better options.

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