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Pleasanton Market Time by Price Point

Just because your friends home sat on the market for 7 months does not mean that all homes are seeing a drastic slowdown. In fact some homes are still seeing multiple offers, overbidding, and homes never hitting the market. What does this tell us?
If you are a seller- you need to be realistic about pricing, condition and terms. In September ‘05 there were 80 homes on the market at the end of the month, Sept. ‘06 had 234. Buyers now have choices, so your home must stand out to get sold. Hiring a realtor that has experienced this type of a market will be your best decision. Be sure you hire someone who knows how to be creative when marketing your home and getting the most money for you.

If you are a buyer- Don’t think you can wait forever and time the market. Right now you have choices and leverage over many sellers who have made a mistake and priced their home too high. Decide what it is in a home you want and go find it. The market will soon shift into the favor of sellers and you will be trapped into buying a home for more than you could have spent and the great homes will again see multiple offers over asking price.

Take a look at the attached graph for an idea of what price points and communities are experiencing when it comes to market time. Don’t think that all homes in those price points are experiencing the same market time, homes priced correctly are still receiving offers well below average times.

Make sure you do your homework when hiring a realtor when selling or buying, it will cost you thousands if you hire someone not experienced in this type of market.

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