In Alpine Meadows, CA we are seeing a welcomed change in the condo/townhouse market as buyers are taking advantage of distressed sales and well priced listings. In the last 2 weeks we have seen 3 units out of 14 go into escrow and there are a few units that are in contract negotiations that will likely enter escrow within the next week! This is a significant jump for the market considering there were only 2 closed condo/townhouse sales in Alpine Meadows in the last 12 months.
One of the units that is now in escrow is a property that I wrote an offer on for one of my buyers, unfortunately we did not get the unit. After we submitted our reasonable market supported offer 2 other offers came in within 24 hrs and all of the sudden we were dealing with a multiple counter offer situation, a bidding war! My clients had a set limit with what they were willing to spend and unfortunately another buyer came in with a higher all cash offer and took the prize. So after 3 years of a weak condo/townhouse market in Alpine Meadows we are now dealing with multiple offers and bidding wars.
With the most recent sales, pending sales, and the current activity level on active listings it appears that we may have hit the bottom of the Alpine Meadows condo/townhouse market. Only time will tell but when there are only 2 sales in a 12 month period and then all of a sudden 3 listings go into escrow and another 2 are in contract negotiations it appears that the market is responding positively to price. If in 2010 there are no other sales besides the ones that are currently in escrow and the units that are in negotiations, then sales for 2010 vs 2009 will be up 60% year over year, and that’s if there are no other sales in the next 10 months! To me it seems that we may be standing at the bottom with the market ready to move onward and upward.
If you are thinking of selling your Alpine Meadows condo/townhouse this might be a great opportunity to sell your property. I would love to discuss your options and go over my marketing plan for your unit in order to sell your property quickly and for top dollar. Lets talk today and discuss how I can help you achieve your real estate goals.