The CALIFORNIA ASSOCIATION OF REALTORS® (CAR) announced this week that the distressed housing market in California is dramatically smaller than five years ago.(1) Anian Tunney, a real estate agent broker in Piedmont, CA believes this to be one of the best indicators of an economic turnaround available.
Primarily, distressed sales are either short sales or real estate-owned (REO) properties. An REO is a property that belongs to an entity that is not in the real estate business – such as a bank.
69.5% of all home sales in January 2009 were distressed. In January of 2014, that number plummeted to 15.6%. In that time, short sales alone spiked to 25.6%. “People are able to hold onto their largest asset; meaning they are employed, staying employed, and earning enough to pay their bills. Compared to 2009, this is definitely an economic improvement,” remarked Tunney.
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While the high-end housing market of Piedmont, CA may not account for many of the distressed sales over the past five years, the fact that Tunney has more houses in contract than inventory available for sale is good news. “People are not only holding on to their current homes, they are starting to move up.” Moving into Piedmont is definitely moving up in the San Francisco Bay Area. One property currently in contract in Piedmont is the estate at 150 Requa Road, listed at $7,400,000. Not all homes in Piedmont are $7.4M mansions; a recently sold home in Piedmont is 179 Estates Drive, listed at $2,895,000.
About Anian Tunney, Broker Associate
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Anian Tunney is an agent broker with The Grubb Company. According to statistics collected by East Bay Regional Data, Inc., she was the 2013 number one real estate agent in Piedmont, CA for the number of units sold and sales volume. Additionally, Tunney is always in the top two in yearly real estate sales for The Grubb Company’s Piedmont, office. She is known for her knowledge, experience, and network in the Piedmont community; qualities which are invaluable for finding that special home or buyers for her clients.
A fifth generation Piedmont resident, Tunney has been with the Grubb Company for over 30 years. She raised her family of four in Piedmont and is active in community projects such as the Piedmont Beautification Foundation, and the East Bay Museum Auxiliary. Her grandmother, Amy Sutton, was a real estate agent, and now Anian works with her daughter Adrienne Krumins, making Piedmont Realty truly a family vocation. Tunney negotiates with grace and clarity of purpose. She can be contacted at 510-339-0400 ext 217, and at tunney(at)grubbco(dot)com. Her website is aniantunney.com.
Contact Information
Anian Tunney
The Grubb Company Real Estate Brokers
Oakland, CA 94611
510-339-0400 ext 217
tunney(at)grubbco(dot)com
[aniantunney.com
aniantunney.com/blog
