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Winter 2012 Market Update
As mentioned before, Sellers who are on the market right now should be motivated to sell. Buyers should be educated on the differences between foreclosures, shortsales, and REO properties before they believe that they can get something for nothing. Homes in the east bay are still more expensive than many parts of the state. Buyers should also be prepared to place 20% down on a home unless they are using an FHA program where 5% is still accepted.
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| Average Home Price | $475,000 - View Graph Trend |
| Average Price Compared to Last Year | Down more than 30% |
| Average Time on Market | 60-90 days |
| Prices As % of Asking Price | 90-95% |
| Market Trend | Decreasing |
| Buyers’ or Sellers’ Market | More buyers than sellers |
| Multiple Offers? | No |
| Housing Inventory | Good supply - Some Prices |
| Greatest Activity | First Time Buyers |
| Reason to Buy/Sell | Other |
| Housing Hot Spots | First-time buyers can get real good deals that include a 2 car garage in the Union City Townhomes off of Union City Blvd and Alvarado Blvd priced at $225,000. Also, There are higher end 4 bedroom homes in Union City off of Union City Blvd and Lowry, Pioneer Park around $550,000. The former used to sell for 350k and the latter near 700k. |
| Average Sold Price | $475,000 - View Graph Trend |
Union City Local News
Sluggish housing market in line for a better 2012, according to quarterly survey
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
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Mortgage Rates
– Feb 9th, 2012 –
---------------------------------
30 yr. fixed rate: 3.89%---------------------------------
15 yr. fixed rate: 3.21%
30 yr. jumbo rate: 4.66%
15 yr. jumbo rate: 3.99%
Home Values
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