Patty Manzi’s Tri-Valley Real Estate Blog

Livermore Real Estate Update~

As of today, September 4, 2009 there are 182 Active listings on the Multiple Listing Service (MLS) in Livermore.

There are 258 Pending sales (119 of which are Pending Subject to Lender Approval as they are a Short Sale/Potential Short Sale). 

From the period of September 1 – September 4, 2009 there were 11 Sold transactions (escrow closed) with an average time of 42 Days on Market (DOM) and an average sales price of $483,768.00 (lowest sold = $294,432.00 / highest sold = $870,000)

The lowest priced home in Livermore is at 1085 Murietta Blvd; it is a 1 Bedroom/1 Bathroom, approx. 748 sq.ft. Condo offered at $79,000 (DOM 3). 

The highest priced home in Livermore is at 837 Kalthoff Common; it is a 5 Bedroom/5 ½  Bath home, approx. 7,700 sq.ft., Single-Family residence offered at $4,999,000 (DOM 12).

As a California licensed real estate Broker & Property Manager I am constantly researching the market and analyzing home prices so I can serve you with the latest and most accurate information. As always, I offer my services to you as your Home Research specialist.  For more information, contact me, or visit my website at:  www.PattyManzi.com.

If you are a first-time home-buyer, or a buyer who hasn’t purchased a home in the last 10 years or more, here are some basic guidelines of what to expect during the buying process.

• Find a Realtor® you can trust.  The first step in the home buying process is to find an experienced Realtor® that you can trust, who has a team of professionals in place.  This will help to ensure  that your needs are met professionally and represented throughout the entire process of buying your home.  Ask for, and check references.
• Get Pre-Approved for a Loan.  This is a very important step.  By doing this before looking for a home, you’ll save time, energy, and frustration.  You will know exactly how much home you can afford.
• Look for your dream home.  The next step is to look a various homes.  A good rule of thumb is  to look at no more than 5 houses each time you go out to tour homes, more than that can be overwhelming.  Your agent can give you printouts from the Multiple Listing Service (MLS) with details on the homes you see.  Take notes on all the properties so you can remember later what features you liked or disliked about the homes.  Remember to take notes on the neighborhood as well.
• Your offer.  Be Careful ~ this is a BIG step!  When you find your dream home, you should be prepared to present a competitive offer immediately.  Your agent must  do thorough research and be able to back up your offer with solid data supporting the price and terms  that you choose.
• The Contract.  You’re starting to jog now….When the seller accepts your contract to purchase, you are ‘in escrow’. Your Realtor®, and you, will work as a team to make sure every detail is handled accurately and immediately so the escrow can close properly, and on-time.
• Inspections.  You’re on the “HOME” Stretch!  Inspections are performed to ensure you know everything you can about the home you are buying.  Contract details are further performed and negotiated, and when all tasks are complete – you head to closing!
• Signing the Loan Documents.  Finalizing the Lender’s commitment.  Prior to the closing, you, your lender, your agent, and your title representative will sit down with you to sign your loan documents at the title company.  At this time you will bring your down-payment/closing funds.  After the signing the  lender will send their funds to complete the transaction. 
• Now it’s YOURS!  Then next Step will be into your new home.  After the Deed is recorded, you can pick up your keys and move into your new ‘Home Sweet Home’!

Sound too easy?  Keep in mind that no two home purchases are identical, they all have their own unique set of circumstances and conditions that need to be addressed.  And, yes,  sometimes problems do arise.  Having a professional team in place can help to ensure that all the issues are dealt with in a professional and timely manner.  This experience should be exciting and enjoyable, as well as get you the perfect home with the least amount of hassle!

I sometimes  have people ask why they need a real estate agent to assist them with buying a home.  Here is my answer.

A REALTOR® brings a wealth of knowledge and experience to the business of buying a home.  In fact, a licensed real estate professional provides much more than the service of helping you find the home of your dreams.  Realtors® are not just sales agents, they are expert negotiators and superb navigators around the local neighborhood.  They are members of the National Association of Realtors® (NAR), and must abide by a Code of Ethics and Standards of Practice enforced by the NAR.  A professional Realtor® is your best resource when preparing to buy a home.

Here are just a few more reasons:

• Working with a Realtor® can save you endless amounts of time, money, and frustration
• An experienced Realtor® will know the housing market in the area and can help you avoid many a ’ wild goose chase’.
• A Realtor® can help you with ANY house, even if it is listed elsewhere, or is being sold by the owner directly.
• Realtors® often know the reputation of the best lenders in the area.  This is essential when helping you get pre-approved for a loan, discussing down payments, closing costs, and monthly payment options.
• A Realtor® is an excellent source for general information about the community, specific information about schools, churches, shopping, transportation, plus tips on house inspections and pricing.
• A Realtor® is experienced at presenting your offer to the homeowner and can help you through the process of negotiating the best deal.  They bring objectivity to the buying transaction, and can point out advantages and disadvantages of a particular property.

And the best thing is that all of  this help normally won’t cost you a cent!  Generally, the seller pays the commission to the Realtors®.  However, as a Realtor®, that doesn’t affect our dedication or the spirit of teamwork that is put into helping you find and buy the home of your dreams. 

This is just a first in a series of  blog’s about home buying, check back tomorrow for more….