Newsletter

The Marks Report

May, 2013

Overview

We have experienced a hot real estate market for the past few months, with well-priced homes often receiving multiple offers and even selling above the asking price. If you are thinking of selling, now is the time.

The link below will take you to the first quarterly report for Contra Costa County and individual cities. Pay attention to the inventory from this year over last, and the sales price percentage. I expect more inventory to be coming in the next few months as sellers are encouraged by the comparable sales in their area.

Click here for the Q1 Contra Costa County Report

Growth in both the job market and household wealth are proving to have a strong impact on sales. Right now is a good time to sell and still a good time to buy – a situation that is not the norm. Mortgage rates are exceptional, so it is a great time to lock in a good loan rate.

Planning ahead in either instance is key to your real estate success. If you want to keep track of the market in your neighborhood, you can sign up for free automatic abbreviated reports anytime. Just log onto http://open.apr.com/Community-Information, then follow the instructions on the left side of the screen. If you have any questions, you can contact me directly and I will set it up for you.

Click here for a sample report.

You can also view more in-depth reports for your specific neighborhood anytime you'd like.

Click here for that link.

As always, if you want to further evaluate your options, contact me anytime: alan@alanmarks.com.

Articles and Advice

Supply of homes starts to catch up with sales

As prices rise, more sellers are testing the market

By: Julie Schmit, USA TODAY

The supply of newly listed homes for sale is starting to show signs of keeping pace with buyer activity in some of the nation's hottest real estate markets, new data suggest.

Click here for article...

Ellie Mae: Mortgage Credit Continues to Ease

By: Inman News

Whether lenders are actually relaxing standards remains subject to debate.

The average FICO credit score for mortgages approved in March was down slightly from a year ago, a sign lenders are continuing to ease up on underwriting, according to a report from mortgage origination software company Ellie Mae Inc.

Click here for article...

Investing in Curb Appeal

By: Dian Hymer

It might seem counterintuitive to invest money in a home you're selling. Wouldn't it be better to save that money for improvements on your next home? Even though the home sale market has improved impressively, buyers still pay more for homes they can move right into without having to do work.

Click here for article...

Ask Alan

Q: What’s going on with the vacation and rental home market?

A: According to NAR’s 2013 Investment and Vacation Home Buyers Survey, vacation home sales accounted for 11% of all transactions last year. Investment sales accounted for 24% in 2012. All-cash purchases remain common in both markets. Almost half of all buyers paid cash in 2012. Of buyers who financed with mortgages, the median down payment was 27%.

The average investment home-buyer in 2012 was 45 years old, earned $85,700 and bought a home close to their primary residence. The median distance was 21 miles. The majority of these homes are being held as rentals. Only 6% of these homes were sold within the first year. The typical vacation homebuyer was 47 years old and had a median income of $92,100. These buyers plan on owning their property for an average of 10 years. This survey can be purchased at www.realtor.org/prodser.nsf/research.

Featured Homes

3977 S. Peardale Dr.
Lafayette

SOLD before going on the market! This gorgeous new construction in Happy Valley was completed last month. It has 4 bedrooms + a den, 3.5 bathrooms, an oversized 3 car garage, a luxurious master suite, open kitchen/family combo and beautiful high end finishes in over 3500sf. Offered at $1,925,000.

Click here for the online tour

821 Mariposa
Lafayette

SOLD! Large, open & beautiful single story home near downtown. Remodeled with granite counter tops, hardwood flooring, walls of windows, arches & views of the hills! Near shopping, BART & top schools. Offered at $1,049,000.

0 Monticello

Lafayette

PENDING! Buy the lot or build to suit. A true estate lot at the total end of Monticello with a level pad and amazing views. Fully approved lot over 7.5 acres awaiting a custom home. Perfect for horses or vineyard! Can be gated. Offered at $895,000.

12 Kimberly Drive

Moraga

SOLD after less than a week on the market! Stunning 5 bedroom, 3.5 bathroom, 4700 sf craftsman on 4 acres. Kitchen/Family combo leading to wrap-around veranda and beautifully landscaped yard. Meticulous attention to detail and high-end finishes throughout! Offered at $1,950,000.

Adoptable Pet Spotlight

Families going through foreclosure have to make very hard decisions, and sometimes are no longer able to care for their pets. Dogs and cats often end up in public shelters– racing the clock as they hope for adoption. That’s where Tony La Russa’s Animal Rescue Foundation, or ARF, comes in. The ARF team rescues pets who are about to run out of time in these shelters, provides care and comfort, and then finally matches them with the perfect owners.

Look at the smile on 7-month-old Rhubarb! This sweet boy is a Nova Scotia Duck-Tolling Retriever/Boxer Mix. He loves attention, walks and toys. He'd love daily exercise, too. Rhubarb is already neutered, up to date on his shots, and good with other dogs.

To find out more about Rhubarb or any of the other ARF pets looking for a home, click on the link below.

ARF Adoption Page

Event of the Month

Animals on Broadway

Sunday, May 19^th, 10:30am-4:00pm

Broadway Plaza, Walnut Creek

This is Tony La Russo’s Animal Rescue Foundation’s 13^th annual fundraising pet walk. As ARF says, “Put your paws to the pavement” and join in! Click on the link below for more information:

http://arf.convio.net/site/MessageViewer?em_id=3181.0&dlv_id=9701

Wine Group Tasting of the Month

Many of you know that I have a passion for good wine. I’ve even grown grapes and made my own. I’ve also belonged to a wine group for about 20 years. Every month we get together for a blind tasting and then rank the wines we try.

Click here for this month’s tasting…

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Alan Marks

925.899.9000

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