Eco Design Resources and Real Estate

The Livermore real estate market, a subset of the larger Alameda County real estate market, seems to be rallying, although that prediction may be premature. According to a March 11, 2010 article in the Contra Costa Times, “The number of East Bay homeowners who received a default notice, the first step in the foreclosure process, was lower in February than a year ago, but that doesn’t necessarily mean the foreclosure problem is going away.” The piece, composed by Eve Mitchell, continued to state that “Observers point out the improved numbers shown in the monthly report due to be released today by www.realtytrac.com continue to be linked to federal government programs and state legislation designed to help homeowners avoid foreclosure. The upshot is that a true market snapshot is not emerging of local and national foreclosure activity, which includes default notices, scheduled auction sales and bank repossessions.”

In general, sales of Livermore homes for sale slipped slightly in February, according to a March 19, 2010 article by DQNews and the NuWire Investor. The article found that “Bay Area home sales were subpar again in February, dipping below the year-ago level for the second straight month as some potential buyers worried about job security, some couldn’t get financing and others found a thin inventory of homes for sale. the median price paid rose year-over-year for the fifth consecutive month, mainly because fewer low-cost foreclosures have sold and more higher-end homes have turned over this year compared with last, a real estate information service reported.” The piece continued to find that “A total of 4,987 new and resale houses and condos closed escrow in the nine-county Bay Area last month.”

Sale prices for Livermore real estate for sale, however, rallied slightly, according to a March 19, 2010 article in the Contra Costa Times. According to the piece by Eve Mitchell, “Bay Area home sale prices rose for the fifth-straight month while the number of homes sold fell for the second-consecutive month on a year-to-year basis as some buyers are finding it harder to get into a home due to worries about job security, a lack of inventory and difficulty getting financing.”