Redfin Pleasanton Market Trends Class

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Redfin Pleasanton Market Trends Class

  1. 1. Redfin’s Market Trends Class Redfin’s Livermore – Pleasanton Team August 20, 2014 ~ Pleasanton, CA Host: Sonal Basu @Redfin http://www.facebook.com/Redfin Slide 1 of 23
  2. 2. Meet Redfin’s Livermore – Pleasanton Team Slide 2 of 23
  3. 3. A Little Bit About Who We Are Redfin is a real estate brokerage that has helped over 20,000 people buy or sell a home; 97% would refer us to a friend. ● Customers, not commissions ● Informed decisions ● Right home for the right price  No obligation  Commission credit Slide 3 of 23
  4. 4. Understanding the Buying Process Slide 4 of 23
  5. 5. Are You Ready to Buy? ● Do you have a family and need room to grow? ● Do you expect to stay put for 5 or more years? ● Have you saved up a down payment? ● Can you rent for less? Slide 5 of 23
  6. 6. Overview of a Purchase Research Neighborhoods Real Estate Agents Mortgage Options Preapproval Consider your needs Slide 6 of 23 Search Define Preferences Saved Search Home Tours Open Houses Offer Comparables Draft Offer Docs Negotiate Mutual Acceptance Closing Earnest Money Inspection Loan application Title Review Appraisal Financing Approval Closing
  7. 7. Market Conditions Slide 7 of 23
  8. 8. Current Market: Low Inventory Slide 8 of 23
  9. 9. Current Market: Rising Prices Slide 9 of 23
  10. 10. Current Market: Low Inventory Slide 10 of 23
  11. 11. Pleasanton & San Ramon Area Overview Slide 11 of 23
  12. 12. What Other Trends are We Noticing? ● Homes are being listed at strategically low prices ►So properties are selling above list price ►Base your offer price on comps & trends – NOT on list price ● Deadlines are being set to accept & review offers ►Sellers usually review offers after about 7-14 days on market ►To give property exposure and create buzz amongst buyers ● Some buyers are waiving their contingencies in order to make their offers more attractive to the seller Slide 12 of 23
  13. 13. What to do? ● Go see the home as soon as you can! ►First couple days on market ● Homes that are priced well, and move-in ready, may sell in days. ● Expect to be up against multiple offers (5-10+), some cash offers ● Get pre approval early on Slide 13 of 23
  14. 14. Where Are Rates Headed? Type of Loan August 15, 2014 August 5, 2014 30-Year Fixed 4.14% 4.12% 15-Year Fixed 3.27% 3.22% 5/1 ARM 3.00% 3.01% 1-Year ARM 2.35% 2.38% Slide 14 of 23
  15. 15. Start Shopping for Lenders Compile a list of 3-4 local lenders Good sources include: ● Redfin's partner lenders ● Referrals from friends, family & co-workers ● Online review sites, such as Yelp ● Local chains and offices *Know your lender Slide 15 of 23
  16. 16. Local Recommended Lenders Slide 16 of 23 In no way does Redfin benefit financially from recommending lenders – we just think they’re great lenders!
  17. 17. All Done! Slide 17 of 23
  18. 18. Future Events! Slide 18 of 23
  19. 19. Thanks for Coming! Questions? Get in touch: Sonal Basu sonal.basu@redfin.com Check out our upcoming classes: http://www.redfin.com/buy-a-home/classes-and-events Slide 19 of 23

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