Pleasanton home prices start trending upward, Realtors' report shows Comments on Stories, posted by Editor, Pleasanton Weekly Online, on Oct 29, 2008 at 2:00 pm
Pleasanton was among the top 10 cities in California with the highest median home prices and also one of nine cities in the state with the greatest median price increases in September, according to a report yesterday by the California Association of Realtors.
Read the full story here Web Link posted Wednesday, October 29, 2008, 8:11 AM
Posted by Reader, a resident of the Another Pleasanton neighborhood neighborhood, on Oct 29, 2008 at 2:00 pm
Jeb - you should be embarrassed by this headline. One data point does not make a trend and the report calls out the continued downward pressure on house prices.
You must get a large proportion of your revenue from the housing and mortgage industries. Don't you feel bad enough that this kind of cheerleading contributed to the housing frenzy that created the mess we are in?
Are you predicting Pleasanton housing will be higher or lower this time next year? Want to make a bet?
Posted by Optimist, a member of the Amador Valley High School community, on Oct 29, 2008 at 8:19 pm
Being one who is sick and tired of all of the doom and gloom, I applaud the attempt to articulate that while things are tough, luckily for those of us who live in Pleasanton, the tough here isn't nearly as tough in other places. Look to the midwest if you really want a crisis. Home values in Pleasanton have only partially adjusted to reality. All of you who thought that your 2,500 SQ FT tract homes were all of a sudden worth a million but didn't sell when the time was right are the real fools for being greedy.
BTW, I remember Jeb writing an introspective article not too long ago about a home near his modest home selling for a million dollars and not believing it could be true.
Pleasanton has a very idealic environment, with very little inventory and very high demand. THAT is what keeps pricing up even in a tough market. Everyone should stop bitching about everything wrong with Pleasanton, and focus on the great majority that is good.
Posted by Complainers, a member of the Amador Valley High School community, on Oct 29, 2008 at 8:24 pm
Camplainers are a dime a dozen. You want to complain about property values, go to Michigan, Ohio or dozens of other States in this country. Try to keep things in perspective, we are very lucky to live where we do.
Posted by Reader, a resident of the Another Pleasanton neighborhood neighborhood, on Oct 29, 2008 at 9:02 pm
Yes, of course we are extremely lucky to live here. We have a fantastic town. Realistically though, homes are not affordable and many would benefit by a return to the long-term averages rather than our current still-inflated prices. Writing Pollyanish articles to try and prop up home prices based on a non-existent "trend" isn't helping anyone (except a few realtors and advertising fees in the PW).
Posted by DocFeelGood, a resident of the Val Vista neighborhood, on Oct 31, 2008 at 12:39 pm
I do believe P-town is nice, but the prices for living here are large. I bought my home right before the high point, and now it has lost alot, due to conditions. Granted not as much as others. If I was in Ohio, I would not have paid 650k for a 1500 sq ft 1967 track house...
Posted by Another Gatetree Resident, a member of the Amador Valley High School community, on Oct 31, 2008 at 12:56 pm
If you all think P-town houses are not worth what the market will bear, try looking at what essentially the same houses are worth (and built in the same era) in an area called "Hallmark" in Belmont. Do a search. Afterwards, feel free to think P-town remains affordable.
Posted by anonymous, a resident of the Vintage Hills Elementary School neighborhood, on Oct 31, 2008 at 11:25 pm
As others have pointed out, median price increase for one month has nothing to do with defining a trend or even with demonstrating that prices are rising. It just means more big homes sold than little homes. This is basic statistics.
If you adjust for home size and lot size, prices probably went down.
I don't get the point of printing an article like this without a disclaimer. Is someone trying to boost sales by printing misleading information? Haven't we had enough of that kind of thing?
If you're a renter reading this article and worried about rising prices, I would advise you to just ignore it. You'll be glad you did.
Posted by Value, a member of the Amador Valley High School community, on Nov 3, 2008 at 12:48 pm
The "value" of something is simply dictated by what someone is willing to pay. For someone to make an argument that they have "lost money" because they got caught buying at the high of the market while unfortunate is simply bad timing. Same thing with the stock market, a share of stock is worth only what some buyer is willing to pay another seller. It really is that simple.
The saving graces for Pleasanton are: 1. It is a beautiful fiscally well run community with great schools, low crime, and wonderful amenities. 2. There is very limited future growth, so what is here is here with very little additional inventory likely to come available. If you want to live here you will continue to likely pay a premium now and into the future. Regardless of what happens with everything else, real estate still comes down to location, location, location.