Castro Valley, CA (PRWEB) October 24, 2014
Last week, the California Association of Realtors® (CAR) released August sales numbers California(1). Once again, sales were down from this time last year. “California real estate is going to take time to work itself out,” remarked Murline Monat, a real estate agent who specializes in Castro Valley Neighborhoods in Castro Valley, CA.
“The Bay Area is the perfect example of California’s real estate conundrum. The jobs market is recovering – bringing people into the region, but housing is extremely limited. On the other hand, outside of the metropolitan areas, housing is more affordable, but the demand is low,” explained Ms. Monat. With the continuing increase in home prices, more owners are taking advantage of the opportunity. However, that increase in prices prevents many would-be buyers from qualifying for sufficient financing, despite the fact that interest rates continue to hold around 4%.
“Despite regulatory and spacing constraints, there is a building boom in the Bay Area,” noted Ms. Monat. “Unfortunately, the current building boom is happening concurrently with job growth – meaning that housing availability will continue to fall short for a few more years until new housing projects start offering units for sale.”
Along with increased prices and reduced sales, the CAR report also noted a slight increase in California inventory. At the current sales rate, the available inventory of single-family detached homes will last four months – up from 3.8 months in July.
As for Alameda County, according to California Association of Realtors, the affordability index is 45% for first time buyers, and 22% for traditional buyers. This is compared to 56% and 33% respectively, for California, as of June, 2014. (2) The median home price for Alameda increased 16.3% over a year ago, whereas for California the increase was only 6.6% over a year ago. Homes for sale in Castro Valley include 6964 Skyfarm Drive, offered at $795,000.
A long-time Bay Area resident, Murline brings a wealth of knowledge and experience to her realty career – including an M.S in Industrial Psychology, building her own home, and group facilitation. Her background makes her an excellent champion for her clients. By ensuring her clients are appropriately informed throughout the purchasing or selling process, coordinating all the parties involved, and negotiating the best deal, Murline’s reputation in the community and realty industry is impeccable.
Before becoming a realtor in 2009, Murline Monat spent her time analyzing sales trends for both large corporations and small businesses. The difference between retail sales trends and real estate trends are minimal and she is able to support her clients in one of the most important lifestyle choices they will make. These decisions “bring great comfort and satisfaction to individuals and to families. I love being a part of that process.”
A Bay Area resident since the age of 5, Murline and her husband made Castro Valley their home because of its central location for both of their careers at the time. While a practical choice, the decision to live in Castro Valley has always been a happy one.
Empire Realty Associates, Inc.
Danville, CA 94526