Piedmont Oakland, CA (PRWEB) March 19, 2013
Anian Tunney, Piedmont, CA real estate expert says that according to realestate.com, the San Francisco-Oakland-San Jose real estate markets are number 3 in real estate value appreciation. ActiveRain.com, a social media portal for real estate professionals, conducted a survey of over two thousand real estate professionals and found great optimism in the future of U.S. real estate. Because most of the Piedmont real estate market consists of single family homes as primary residences, Piedmont should see continued price appreciation in 2013.
Tunney notes that during the financial crisis, the banks holding onto shadow inventory kept available inventory low, and impeded the real estate market’s recovery. Shadow inventory is property owned by the banks that have not been released for sale. Four million units of inventory were short sales, bank-owned properties and foreclosures in 2009. Tunney notes that according to realestate.com, In 2010 and 2011, 33 percent of real estate inventory was held by a bank in some way. Shadow inventory accounted for 25 percent of the market in 2012. The decline in shadow inventory is expected to continue; NAR expects it to drop to a single-digit percentage of the market by 2014.
With inventory still tight, Tunney notes that homes receiving several offers over the asking price is not uncommon and the market continues to be a seller’s market. Tunney notes that Piedmont has a good balance of the common trends among the top real estate markets, including a good balance between large corporations and their small business bases, great local schools and city services and high quality of life.
About Anian Tunney Piedmont Oakland Real Estate
Anian Tunney is consistently among the top two in an office of 66 professionals in yearly real estate sales for The Grubb Co. in Piedmont Oakland, CA. She is known for her knowledge, experience and networking in the Piedmont community; qualities which are invaluable in finding that special home for her clients. She can be contacted at 510-339-0400 /217, at tunney(at)grubbco(dot)com. Her website is aniantunney.com.
The Grubb Company Real Estate Brokers
Oakland, CA 94611
510-339-0400 ext 217
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