Market Trends

According to the Contra Costa Association of Realtors statistics for December 2011 were as follows: New Listings down 8.9% for detached homes and 30.9% for attached properties. Pending Sales increased 33.6% for single family homes and 56.1% for townhomes. The Median Sales Price was down 7.2% to $515,000 for detached homes and 5.7% to $200,000 for attached properties. Months Supply of Inventory decreased 38.1% for single family homes and 64.1% for townhomes. The statistics will vary from community to community.

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Home Buying Tips

Congratulations! You have a new home! If you plan to live there for at least five years before selling, consider this. By January 1, 2017, a single family home built on or before January 1, 1994 must be equipped with water-conserving plumbing fixtures. If, however, the home is altered or improved on or after January 1, 2014, the water-conserving plumbing fiextures must be a condition of final permit approval. Water-conserving plumbing fixtures are low-flow toilets, shower heads and faucets under section 1101.3 of the California Civil Code.

Home Selling Tips

PERMITS
If you use licensed contractors to remodel they will usually make sure that the permit process is followed. However, if you decide to do it yourself, you should be sure to check and see if a permit is required to complete the work. The permit process differs from city to city but its purpose is the same. A permit offers assurance by a municipal building department that the work being done meets all safety codes. When you are in the process of selling your home, you may have to disclose any remodeling work that you did and verify permits. The lack of a permit for an obvious renovation may affect the ability for a buyer to obtain a loan.