June 9, 2020
I hope that this email finds you and your family in good health and spirits. It’s been a long lockdown and we are more than ready to get back to normal life. We were lucky to have a taste of normalcy last week while visiting family in Idaho where they have mostly opened the state with some safety guidelines in place. It was so nice to sit at a restaurant and enjoy a nice meal again. I can’t wait to enjoy some mac and cheese again at Haps! Despite the many negatives with the SIP order, there have been some good things that have come from it, and I am not referring to the endless number of humorous memes like the picture above that people have been posting. It is the first time in many years that I have been able to relax a little bit and not be working 24/7. I am still selling homes, but I am nowhere near as busy as I have become accustomed to. Shawn and I have both been dabbling with new hobbies, which has been fun. I started (with a lot of help from a few friends) refinishing some old pieces of furniture, and Shawn started making concrete and epoxy resin tabletops. The pictures below are our works in progress.
On a side note, I wanted to say a huge THANK YOU to everybody that reached out to check on me after reading about my knee injury in last month’s newsletter. It was very touching and greatly appreciated to receive so many calls and emails. My knee is getting much better and I am doing a lot of physical therapy, walking and light work outs. Hopefully, I’ll be able to start hiking the ridge again in a few weeks. Keeping my fingers crossed!
A lot has changed since my last update in mid-April and the market has been remarkably resilient considering the circumstances. We are once again allowed to show homes that are occupied (with very strict guidelines) and activity has picked up dramatically. Inventory levels are rising and getting closer to our normal levels, and many more homes are going into contract and selling. What I find to be most surprising is the strength of the market in the $2M – $2.5M range, which is seeing strong activity and a lot of sales. While marketing times for some homes are longer than in a typical market, we are seeing several homes sell very quickly and with more than 1 offer, which is very encouraging.
Here’s a snapshot of current inventories of active homes as compared to last month’s numbers shown in the brackets:Pleasanton:
130 (65) – Dublin: 91 (53) – Danville: 128 (97)
Alamo: 49 (30) – Livermore: 126 (86) – San Ramon: 124 (64)
Here’s a snapshot of homes that have gone pending since mid-April, as compared to the first month under the SIP order:
Based on the volume of my calls and how busy our vendors (stagers, inspectors, etc.) are, I expect to see a large number of listings come on the market in the next couple of months as we slowly come out of this COVID situation. I am optimistic that our market activity will continue to increase and that the market will remain relatively strong. Rates continue to be at historic lows and should remain that way for the foreseeable future, which will also help keep the market moving.
Thank you so much for your business and referrals. I am grateful to all of my clients.
Founder & CEO(925) 200-0202
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