Oakland, CA (PRWEB) May 16, 2013
Anian Tunney Real Estate Agent Broker with The Grubb Company in Piedmont, CA comments on the California Association of Realtors® (CAR) first quarter 2013 housing affordability report which states that higher home prices caused a drop in the number of families that can afford to purchase a median-priced, existing single-family home in California. The index is down to 44 percent, from 56 percent in the first quarter in 2012. Tunney’s reasoning for the higher home prices has been the scarcity of inventory on the market. One of the recent closed sales in Oakland was 5615 Broadway, Oakland.
Tunney notes that according to CAR’s Traditional Housing Affordability Index ( HAI), home buyers need to earn a minimum annual income of $66,800 to qualify for the purchase of a $350,490 statewide median-priced existing single-family home in the first quarter of 2013. In the first quarter of 2012, the median home price was $279,190, and an annual income of $56,320 was needed to purchase a home at that price. In the San Francisco Bay Area, only 32 percent of the residents can afford to purchase a home. Of the Bay Area counties, San Francisco and San Mateo counties had the lowest affordability rate at only 23 percent, and Solano county had the highest at 67 percent. Alameda county matches the Bay Area at 32 percent. One of the Piedmont CA homes for sale is 87 Sea View Avenue for $3,495,000.
Tunny comments that nationally, according to Robbie Whelan of the Wall Street Journal, the national median price for an existing, single family home was $176,000, which is 11.3 percent higher than the first quarter in 2012. This translates to a buyer needing an income of only $36,500 to buy a house at the median price, while the national median income is $62,200. Because credit remains tight for buyers with damaged credit scores and those who do not have a large down payment it can still be difficult for the the average consumer to purchase a home. Low inventories in some markets, especially the San Francisco Bay Area, mean bidding wars among buyers and rising home prices.
About Anian Tunney Piedmont Oakland Real Estate
Anian Tunney, agent broker with The Grubb Company, was the number one of all real estate agents in Piedmont CA in 2012 in the number of units sold and sales volume, according to East Bay Regional Data, Inc.
Additionally, Tunney is always in the top two in yearly real estate sales for The Grubb Company Piedmont CA office. 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.
Tunney has been with the Grubb Company for over 30 years. She is a fifth generation Piedmont resident, spending most of her life here, raising her family of four and 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 it truly a family vocation. One of her clients called her the Realtor with the velvet hammer; she 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.
The Grubb Company Real Estate Brokers
Oakland, CA 94611
510-339-0400 ext 217