Piedmont, CA (PRWEB) December 20, 2013
California Association of Realtors® (CAR) reported that reduced housing affordability in California continued to slow home sales in November(1). According to CAR, higher interest rates and increasing home prices, due to lack of inventory, were the primary factors influencing November sales. Anian Tunney, a real estate agent broker in Piedmont, CA, concurs with CAR President Kevin Brown’s comment that “improving home prices are a double-edged sword for the housing market,” and added that, “increasing home prices is great news for sellers; but do give buyers a harder time.”
Tunney noted that although November sales are the lowest they have been since July 2010, and the inventory of single-family detached homes has been stable at 3.6 months since the summer; recent clarification by the IRS and California’s Franchise Tax Board (FTB) regarding the tax implications of short sales(2) could result in increased inventory. Currently available homes for sale in Piedmont include 85 Sandringham Road, offered at $1,849,000.
For the San Francisco Bay Area, where housing affordability has some of the lowest numbers in the state, Tunney highlighted that the percentage of homes sold in that price range jumped from 27% in November 2012 to 36% in November 2013. This increase in sales of higher-end homes feeds Tunney’s optimism about houses for sale in Piedmont, such as 179 Estates Drive, offered at $3,495,000.
The inventory of top-end houses is also increasing, with a 5.4 month supply of homes in the standard price range for the Bay Area. One such home for sale in Piedmont is 150 Requa Road, currently offered at $7,400,000.
Tunney notes that, while the market is likely to stay soft in the short term as buyers and sellers wait for the market to even out some, the long-term outlook is good because the market is gradually coming into balance.
About Anian Tunney, Broker Associate
Anian Tunney is an agent broker with The Grubb Company. According to statistics collected by East Bay Regional Data, Inc., she was the 2012 number one real estate agent in Piedmont, CA for the number of units sold and sales volume. Additionally, Tunney is always in the top two in yearly real estate sales for The Grubb Company’s Piedmont, office. She is known for her knowledge, experience, and network in the Piedmont community; qualities which are invaluable for finding that special home or buyers for her clients.
A fifth generation Piedmont resident, Tunney has been with the Grubb Company for over 30 years. She raised her family of four in Piedmont and is active in community projects such as the Piedmont Beautification Foundation, and the East Bay Museum Auxiliary. Her grandmother, Amy Sutton, was a real estate agent, and now Anian works with her daughter Adrienne Krumins, making Piedmont Realty truly a family vocation. Known by at least one client as “The Realtor with the Velvet Hammer,” Tunney negotiates with grace and clarity of purpose. She can be contacted at 510-339-0400 ext 217, and at tunney(at)grubbco(dot)com. Her website is aniantunney.com.