Real Estate Investments in Antioch Ca 94509
Are the prices for Real Estate Investments in Antioch Ca 94509 going up? I look at the prices of three and four bedroom and two bath homes with two car garages as these are the main things Investors want in this area.
From July to August the Price Per SF of the three bedroom homes dropped from $114.15 to $109.75 and four bedroom homes dropped from $104.03 to $101.51.
Although on the surface the price drops would seem significant they are very small and in and of themselves do not make a trend. The price drop is caused by a number of things including the normal up and down from month to month, the normal drop in business towards the end of summer, and differences in the individual homes.
One big factor most people do not see is the drop in the Bank Owned Home market. Right now most of the homes on the market are Short Sales, Traditional Sales are in the number 2 spot, and bank owned homes make up the smallest part of the market.
Traditional Sales are the most expensive homes on the market. These are always private sellers who can generally demand top dollar for a home and often these homes are in the best condition. Often these tradional sales are from investors who can are looking for top dollar on a flip.
In July there were 82 Homes sold; 20 Short Sales, 29 Bank Owned Homes, and 44 Traditional Sales. In August there were 73 sales; 13 Short Sales, 33 Bank Owned Homes, and only 27 Traditional Sales.
As Traditional Sales drop and more Bank Owned Homes sell average sales price drops. However, the quality and "value" of the homes generally has stayed about the same.
When considering a Real Estate Investment always look behind the numbers.
If you are considering a Real Estate Investment get my Free Book on Real Estate Investing and let me know what you want to see in a Real Estate Investment.
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