One way to look at the market is to segment it. I find it useful to think of the market in terms of A list, B list, and C list properties.

“A list” properties are the crem de la crem; The properties that are in excellent condition, superior locations, with superior amenities and appeal. “C list” properties are the left over properties; properties with location challenges, or severe deferred maintenance, lack of a usable yard, or foreclosure properties that have been vandalized. “B list” properties would be everything else, including homes with moderate appeal with no real location or structural issues.

“A list” properties will sell in any market, assuming they are priced somewhere in the realm of market value. Many times they will receive multiple offers, especially if other homes in the price range are clearly inferior. So, in the facebook example, the property being referred to was an “A list” property. It sold fast with multiple offers. No surprise there.

“C list” properties will struggle in any market, even hot markets. If the home is a foreclosure property and is missin kitchen appliances for example, it might take a while to sell, even if the market is over-heated. I don’t have a lot of buyers coming into my office and demanding to see homes with no oven or dishwasher. Because of the challenges that short sales present, we can put them in this category as well. And when the market is slow, these homes can take an extended amount of time to sell.

“B list” properties are everything else, and there really aren’t a bunch of them for sale. They are average, probably traditional sales. They have some nice features, but are a little tired, or have pools that take up most of the yard, or have some negative points as well as positive. 

The truest indication of the strength of the market overall, in my opinion, is how the B list properties are faring. In a hot market, B list properties sell relatively quickly, and get good prices due to lack of inventory and strong demand. In a sluggish market where there is lots of inventory and/or weak demand, B list properties tend to take a while to sell, and might need a price reduction or two to sell. 

So, when you encounter the “The market is HOT! The house next door sold in 2 days with multiple offers!” statement, you might want ask them about the 2 homes down the street that have been on the market for 45 & 60 days respectively. And conversely, when someone complains that the market is slow because their friend has a house that took 4 months to sell, remind them of the one around the corner that sold in 3 days. When talking about the market, it is always best to avoid using the exception to prove the rule, in all market conditions.

Related posts:

1. Deer Ridge, Brentwood Market Update July 2010
2. Shadow Lakes, Brentwood Market Update June 2010
3. Discovery Bay Foreclosure List, August 2010

1195 Montego, Walnut Creek, CA 94598 (MLS # 40478488)

Brand new construction. 2 story, all bedrooms upstairs, 2 car attached garage, fenced backyard patio/grass area. Granite slab counters, hardwood floors, dual pane windows/slider, inside laundry,refrigerator included, 5 burner gas stove, open 8/29, 1:30-4:30.

Property Type(s): Residential, Residential / Townhouse

Schools

Additional Details

Features

Location

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Listed with EAGLE REAL ESTATE SERVICES

(view all details for MLS # 40478488)

Related posts:

1. 1193 Montego, Walnut Creek
2. 1944 Water Street, Brentwood, CA
3. 1655 N California Blvd Unit 322

New construction. 2 story, all bedrooms upstairs, 2 car attached garage, fenced backyard patio and grass area. Granite slab counters, hardwood floors, dual pane windows/slider, inside laundry, washer/dryer/refrigerator included. 5 burner gas stove, open 8/29, 1:30-4:30

Property Type(s): Residential, Residential / Townhouse

Schools

Additional Details

Features

Location

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Listed with EAGLE REAL ESTATE SERVICES

(view all details for MLS # 40478471)

Related posts:

1. 1195 Montego, Walnut Creek
2. 1944 Water Street, Brentwood, CA
3. 1655 N California Blvd Unit 322

Just professionally repainted & staged!! A 10+. Have clients that want urban life style? This is it! Built in '03, 48 units in the heart of downtown. Overlooks a sm. 2 acre park w/ gorgeous VIEWS of Mt. Diablo and city lights! High-end upgrades, quality throughout...your clients will love this !!

Property Type(s): Residential, Residential / Condo

Price History

Schools

Additional Details

Features

Location

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Listed with Better Homes Realty

(view all details for MLS # 40455829)

Related posts:

1. 1800 Alma Ave Unit 301
2. 1655 N California Blvd Unit 322
3. 1655 N California Blvd Unit 301

Top floor penthouse unit, higher ceilings, open & spacious. No one is above. Understated & elegant w/top quality finishes. Den/office can be 3rd bd. Upgraded designer kit. Quiet yet steps from dntwn in exclusive complex of 48 units built in 2003. Regular sale! Motivated sellers - worth a look!

Property Type(s): Residential, Residential / Condo

Schools

Additional Details

Features

Location

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Listed with Better Homes Realty

(view all details for MLS # 40477501)

Related posts:

1. 1800 Alma Ave Unit 308
2. 1655 N California Blvd Unit 322
3. 1655 N California Blvd Unit 301

Rare floorplan! 2 bedroom + den! Top floor, highest ceilings. Huge combo livingrm/kitchen! Diablo & city light views. Highly upgraded-granite, Subzero,Viking Best location near lobby/entrance. Downtown - walk to shops & BART.

Property Type(s): Residential, Residential / Condo

Price History

Schools

Additional Details

Features

Location

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Listed with J. Rockcliff Realtors Inc

(view all details for MLS # 40459168)

Related posts:

1. 1655 N California Blvd Unit 322
2. 1800 Alma Ave Unit 301
3. 1800 Alma Ave Unit 308

Not a Short Sale or REO! Enjoy the GOOD LIFE at the luxurious 2 years new MERCER development in the heart of downtown WC - walking distance to top restaurants,shopping & BART.Amenities incl. gym,lap pool,lounge,concierge,2 garage parking spots,extra storage compartment,balcony overlooking courtyard

Property Type(s): Residential, Residential / Condo

Price History

Schools

Additional Details

Features

Location

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Listed with J. Rockcliff Realtors Inc.

(view all details for MLS # 40422200)

Related posts:

1. 1655 N California Blvd Unit 301
2. 1800 Alma Ave Unit 301
3. 1800 Alma Ave Unit 308

You can download the detailed reports for free below.

This alarmingly low number of succesfully completed transactions, in spite of historically low interest rates and renewed levels of affordability, is due to the fact that we are still in a market dominated by short sales, which have a relatively low success rate compared to traditional real estate sales in Brentwood.

The average sales price for homes in Brentwood was $326,000 in July, unchanged from the previous month and in the middle of the range for the past eighteen months. The average price per square foot in Brentwood was up by $5/foot to $135 in July, still down from the March high of $140/sqft.  All that to say prices are essentially stable.

The average days on market for homes for sale in Brentwood was 44 days last month , in line with the 39 days for June sales, but less than the 44days for closed sales a year ago. On average, Brentwood homes sold for 97% of their asking price in July.

Inventory of Brentwood homes for sale is still relatively low, but has climbed to 223 homes on the market in July, compared to 167 homes on the market back in April, and in-line with the 172 homes for sale in Brentwood last year in  July.

Buying or Selling a Brentwood Home? Internet research is good, but you can contact me directly to discuss your specific situation and see how I can help! Call me today at 925-487-3172 – Thanks, Tom

Related posts:

1. Brentwood Real Estate Market Update June, 2010
2. Garin Ranch, Brentwood Real Estate Update, August 2010
3. Brentwood Home Sales March 2010

Local businesses in Brentwood like Bill Brandt Ford and Willy’s Bagels & Blends, along with many others, stepped-up the effort by raising awareness and funds alike. You can read the entire article in The Brentwood Press.

So while Freshman Sports are safe for this year, the budget crisis that still faces Brentwood schools makes it likely that we’ll need the same kind of community support to keep our ninth-graders active in years to come. But given the nature of the community in this town, I know it’s not a lost cause.

Related posts:

1. The Streets of Brentwood Open-Air Mall Benefits Brentwood Area Residents
2. Measure F – More Homes for Sale in Brentwood?
3. Brentwood Crime Statistics 2009

Discovery Bay, CA, August 12, 2010

 Foreclosure activity was again mixed in July. Foreclosure filings and cancellations dropped after rising last month, while foreclosure sales rose after dropping last month. “Despite a tsunami of mortgage delinquencies we continue to see no signs of a foreclosure wave” says Sean O’Toole, Founder and CEO of ForeclosureRadar.com. “Lenders and government intervention continue to delay foreclosures despite their continued failure to find a long term solution to unsustainable negative equity.”

Search current foreclosure listings at http://www.tomschieber.com/foreclosures/

Related posts:

1. June California Foreclosure Report
2. Discovery Bay Foreclosure List April 2010
3. Brentwood Foreclosure List April 2010