You might be asking and wondering what will the increase in interest rates and the wild ride on the stock market do to our market? In checking with my experts the last few days, the vote seems to be out as to what major impact if any it all will have. I personally think it will impact the “marginal” buyers, but that will be the extent of it, but obviously we will have to wait and see. So other than dealing with the “joys” of the construction projects on the 405, Sepulveda and Sunset which will last about another year (OUCH!) what is the difference in the real estate activity in the area of Brentwood from Brentwood Circle through Bundy this past quarter vs. the same period of time last year? The lack of inventory that we are hearing about is also impacting Brentwood. Currently there is only one home available for sale, vs. three last year. There are two homes in escrow currently vs. four last year, and we have seven homes in escrow, vs. 3 last year. The amount of homes available for lease is the same, one as it the number of leases done, one.
What is happening in Brentwood specifically?
Currently there are three homes listed for sale vs. two the first quarter of last year. This past quarter four homes entered into escrow vs. two last year and there were two closed escrows this past quarter vs. one during the same time period last year. Currently there is one home available for lease where as there were none the first quarter of last year and for both years one home was leased. Overall the increased sales activity in the general area as well as prices bodes well for the community!
What is happening in your part of Brentwood? As you know they are still working on the 405, so that impact will continue for a while. Has it impacted real estate values directly, I personally think it is a combination of the overall economy (mostly), and the construction (somewhat). With the construction work still going on, and the heat up in the market, it is easier to see where they issues have been. As far as real estate comparisons between this past quarter and the same one last year, for your part of Brentwood, there is currently one home on the market, vs. 3 last year, 2 in escrow currently vs. 1 last year, and three closed escrows this year (one short sale and two private sales) vs. 2 last year. There were 2 homes leased each year.
I also want to thank all of you again for your support in reelecting me to the Master Board of Directors for the community. I have very much enjoyed serving our great community and look forward to doing so for the next two years. Please let me know if there are any issues that you like for us to look at. Also, please do let me know how I might assist you with any real estate needs you have.
Happy New Year… here’s to a Healthy, Happy one!!!
What is happening in your part of Brentwood specifically?
It has been a good year for real estate in that there was more real estate activity this past quarter than there was for the same time period last year. There are currently five homes available for sale in the community vs. six for the same time period last year. Currently there are two homes in escrow vs. one last year, and this past quarter there were six closed escrows, vs. none last year. There is one home available for lease vs. none last year, and four homes have been leased, vs. one last year for this past quarter. With the work on the Sunset Bridge completed and the eight lanes open and running, I can personally say that the traffic nightmare that we all have painfully suffered through is over (at least this part of it). Now all we need is for the rest of the construction to be done and we will all be happy!