Piedmont, CA (PRWEB) September 12, 2013
Anian Tunney Piedmont CA real estate agent broker discusses CNBC article on the US housing market and waning investor demand which opens the door for first-time home buyers. Tunney states that according to the CNBC article,(1) investment firms account for some of the biggest buyers in areas where house prices had fallen the most and have rebounded fastest - areas that by national norms still appear depressed. Phoenix, Las Vegas, and parts of Florida are among the places where investors have focused. There are also areas that have seen some of the biggest price jumps this year, with prices in Phoenix up 23 percent in the first quarter from a year earlier, according to CoreLogic. "Investors helped jump-start things for us and put the market back on course. They cleaned up and took a lot of housing product and made it useful again, instead of it being vacant, empty and unusable," said Harvey Blankfeld, a real estate agent with the Prudential Americana Group in Las Vegas, Nevada. One of the homes for sale in Piedmont is 47 Fairview Avenue, Piedmont, offered at $1,195,000.
Tunney notes from the article that strong demand from those firms and others has cut inventory and made it hard for other buyers to find homes. But investors are no longer as likely to win bids as they were a year ago. "Within an hour of posting a listing, I often get some of the same investment firms making an offer. It's not always going to be acceptable to my seller nowadays, but they seem to hope we'll agree to a lower price," Blankfeld said. Now that there are fewer bargains, there are fewer incentives for investors to make bids. Blackstone Group, the largest investor in single-family homes to manage as rentals, has acquired thousands of properties in nine markets, from Miami to Phoenix. Similarly, Colony Capital, a Los Angeles-based investment firm, is among the private-equity firms that are buying U.S. homes in bulk. "Investors helped stabilize a housing market that was in free-fall and they did so by taking advantage of fire-sale home prices," said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. "Now you see few fewer bargain prices in the market and that's a reason investor demand is coming off its peak." Coming soon is one of the houses for sale in Piedmont located at 211 Crocker Avenue.
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