Piedmont, CA (PRWEB) October 30, 2014
With continuing improvements to the economy, a majority of Realtors® and real estate firms are confident that profits will increase over the next year. This is according to the October 2014 National Association of Realtors® Profile of Real Estate Firms survey released in October. A press release(1) from the National Association of Realtors® (NAR) summarized the survey of over 7000 real estate executives nation-wide. Recent sales in Piedmont include 5 Requa Place, offered at $2,495,000, which sold well over the asking price in 10 days. “The short time this home was on the market supports the notion of optimism by the real estate industry,” according to Tunney.
Some concerns surfaced in the NAR October 2014 survey, such as the Millennial generation’s ability to enter the real estate market. “There is concern over the ability of Millennials to enter the market,” Piedmont, CA real estate agent broker Anian Tunney commented in reference to the newest generation of home buyers. With stagnant wages and high debt to income ratios, Millennials are entering the market at a disadvantage. “Regardless, more agencies are growing than shrinking,” she noted. Of the survey respondents, 45% reported actively recruiting new agents, primarily due to business growth. Another of the recent sales in Piedmont at 212 Bonita, offered at $2,150,000 sold very much over the asking price with 5 offers in 3 days. “This demonstrates the high demand for high end real estate in the San Francisco Bay Area” commented Tunney.
“It is good to see the overall, yet realistic, optimism in the industry,” Tunney commented. She expanded, “we all have to be aware of our local economies, and that showed in what firms reported as their potential challenges over the next two years.” The new listings in Piedmont include 6 King Avenue, offered at $4,200,000. “ Homes priced at this level will most likely not attract the typical first time home buyer, yet is expected to sell quickly,” noted Tunney.
Another concern mentioned in the NAR Survey is enough inventory to satisfy demand. With the increase in home values, more owners are open to the possibility of selling, but the number of houses available is still far below “normal.” And with more demand than supply, prices will continue to increase, making it more difficult for first time home buyers, such as the Millennial to enter the market. And properties are not on the market long. For example, one home for sale in Piedmont, 5 Requa Place, was on the market for less than a month before entering a contract.
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 2013 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, the East Bay Museum Auxiliary, and the Piedmont school district. 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. 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.