Castro Valley, CA (PRWEB) November 27, 2014
According to real estate and financial data and analytic services company CoreLogic®, the San Francisco Bay Area real estate market’s regional median sales price increased by 14% from September of 2013, to $604,000. For comparison, the peak median price before the housing crash, recorded in June and July 2007, was $605,000. The typical monthly mortgage buyers committed themselves to was $2,340 for all types of homes, CoreLogic DataQuick said.
Broken down by county, Alameda saw a price gain of 8.5 percent to $621,000 from a year earlier; Contra Costa County was up 9.8 percent to $450,000; Santa Clara County was up 7.3 percent to $775,000, and San Mateo County was up 16.2 percent to $870,000.
“The increase in prices is starting to cause concern,” noted real estate agent and Castro Valley Neighborhoods specialist Murline Monat. “Increasing prices generally cause some potential buyers to drop out of the market, especially first-time buyers,” she explained.
“On the other hand,” Ms. Monat continues, “as long as there continues to be job growth in the area, people are going to keep moving into the area and need a place to live.” With the job growth the Bay Area is seeing, there is also population growth – resulting in higher demand.
“Many buyers are disappointed by the available inventory in their price range,” Ms. Monat remarked. “However, our current construction boom will not produce enough available housing in the near term – leaving many buyers unhappy with what’s available.”
Overall, Ms. Monat advises clients to compromise. In the current market, buyers cannot afford as much house as they may want in the location they desire: “I tell all my clients to make a list of what they want in their next home and then to prioritize – aggressively.”
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