SmartZip Antioch Top 10 Real Estate Investment Market Report July 2009 - Presentation Transcript
TM
July 2009 | www.SmartZip.com
ANTIOCH, CA
Overview Key Investment Metrics
The city of Antioch, known as the Gateway Average SmartZip Score™ 71 Growth
to the Delta, is located on the banks of the 62 Income
San Joaquin River in Northern California. Average Market Value: $241,747
It is situated in Contra Costa County, about
45 miles east of San Francisco, 50 miles $135 per Sq. Ft.
west of Stockton, and 60 miles southwest of 10-Year Proj. Appreciation: 49%
Sacramento. Average Monthly Rent: $1,854
The City’s location gives it access to Average Cap Rate: 4.5%
employment opportunities in the three School Rating (10 is best): 8
larger cities, and easy access to Bay Area
attractions, museums, and community
activities. The city has a municipal marina Local Expert Insights
and two public fishing piers, as well as • As of June 28, there were 259 homes for sale (2%
private marinas, boatyards, and yacht clubs. short sale, 31% foreclosure)
A planned 10 mile expansion of BART (Bay • Prices are 50-60% of where they were at the peak,
Area Rapid Transit) from nearby Pittsburgh/ and have now stabilized at close to the bottom
Bay Point, will make Antioch even more
accessible to San Francisco. • Inventory has been steadily decreasing over the
last year due to the moratorium on foreclosures, but
expect inventory to rise
On the Map
• Prices have been fairly stable as a result of the
decrease in supply and homes priced less than
$250k have actually seen prices rise as they cash
flow positive
• Expect prices to remain at depressed levels for at
least another year or two
• The average time for a listing to move from active to
pending is only 7 days, but it takes 45 days to move
to sold because of a slow short sale process
SmartZip's Analysis and insights into Antioch, CA a more
SmartZip's Analysis and insights into Antioch, CA as a fundamentally strong real estate market for investors and homebuyers, based on SmartZip's investment ratings and local insights less
0 comments
Post a comment