We’ve known for some time that things are looking up in the Lafayette real estate market, and the real estate and economic statistics are bearing that out! Earlier this week, Pacific Union International (PUI) posted a statistically informed article on its blog called, “East Bay Economic Recovery Picks Up Steam.”
If you have the chance, I recommend reading the PUI article. While Lafayette isn’t specifically mentioned, Oakland is. It’s been my experience that an improving economic market in Oakland often means good things for Lafayette home sellers. Already, we’ve seen an uptick in Oakland families attending open houses. They’re not the only ones looking, either.
Lafayette Open House Observations
I spend a lot of Sunday afternoons hosting Open Houses. It’s always interesting to talk to homebuyers about what they’re looking for and why. I also like to ask them about their decision to move and what is the driving force.
Right now, most Lafayette homebuyers seem to be falling into one of four categories:
· People who live in Oakland
· People who live in San Francisco
· People who live in Lafayette now
· People relocating to the San Francisco Bay Area because of a new job
Oakland families are confirming what has been the case for some time: They are choosing to come through the tunnel to Lafayette because of the high crime in Oakland and because of Lafayette’s wonderful schools. Many of these Oakland families realize that the new tunnel will ease current traffic congestion, making our area that much more accessible.
San Francisco families want Lafayette for the reasons they always look here. Their families are growing and they’re looking for schools and a more suburban way of life to match these new changes in their family structures.
Your Lafayette neighbors know a good thing when they live it. They may be ready to sell their home, but they’re not anxious to leave town. Lately, we’ve been seeing a lot of homebuyer interest from current Lafayette residents. These are homeowners who are looking to move up or down in home size, value and/or carrying costs. For others, it’s about proximity to trails, restaurants, and BART. They’ve moved from starter homes to larger family homes, and now want their forever home to be easy walking distance to downtown.
What’s great about Lafayette is that we can accommodate all these different lifestyle needs within our four main neighborhoods – Downtown/Trail Neighborhoods, Burton Valley, Happy Valley, and Reliez Valley/Springhill. Maybe that’s why Lafayette has a positive lifestyle reputation beyond the Bay Area, too, and so many people relocating to the San Francisco Area for a job look for their next home in Lafayette.
Do you want to talk about what all this means for your specific plans to buy or sell a home in Lafayette, either now or into 2013? Contact me at 925.339.1918 or Dana@DanaGreenTeam.com, and let’s talk about it.