Local real estate trends and predictions for the second half of 2024

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Local real estate trends and predictions for the second half of 2024

Anyone thinking of buying or selling a home in Livermore this year should familiarize themselves with what’s going on in the city and surrounding communities when it comes to real estate trends. Glen Riggs with eXp Realty is a longtime Livermore resident and has some tips to help.

Prices will rise

This is news that people may be getting used to in several areas of their lives — prices are rising. The real estate market is no different.

“I believe that home prices will continue to rise as will buyer confidence,” Riggs said.

“People will still need to buy homes, and there are people who will still need to sell,” Riggs furthered. “That won’t change.”

Even then, it’s important to look at the details specific to a neighborhood where one is buying or selling to understand that market.

Livermore will remain a hot spot

Livermore in the summer is a sight to behold, and buyers will take note of that.

“Livermore homes look amazing,” Riggs said. “Flowers are blooming, the days are warm, the evenings are cool, kids are done with school.”

It’s a popular destination for Bay Area newcomers for a variety of reasons, including that Livermore is the home of Sandia National Laboratories and Lawrence Livermore National Laboratory. It’s also not far from San Francisco or Silicon Valley, with public transit through Bay Area Rapid Transit, better known as BART, as well as ACE trains.

And, of course, the wineries are incredible.

“I expect Livermore to remain a real estate hot spot for the foreseeable future,” Riggs said.

People selling their own homes may stumble

Because of changes to the compensation model in real estate, some people may want to skip hiring a real estate agent and try selling on their own.

“There are going to be those who think that they can save some money and do it themselves, but that is the wrong approach to take,” Riggs said. “You wouldn’t operate on yourself because you have seen every episode of ‘Grey’s Anatomy,’ so don’t represent yourself in a real estate transaction because you watch ‘Selling Sunset.’”

Taking time to talk to a real estate professional — even several — means people can work with an expert they trust, skip the headache of selling themselves and, perhaps best of all, make more money than they would trying to negotiate themselves.

Buyers and sellers will benefit from help

No matter whether buying or selling a home, a local Realtor — a real estate agent who is a member of the National Association of Realtors — can provide essential help by, for example, sharing recent listing and sales prices of comparable homes in the neighborhood and city. An agent is also a steady, knowledgeable presence during an emotional journey.

“With all of those emotions, it is nice to have someone in your corner who can explain what is going on in simple terms and help to describe the road ahead,” Riggs said. “This is true even if you are not a first-time home buyer.”

Whether sellers need help narrowing down what they’re willing to negotiate or buyers need help from the beginning or with just a few steps, the right real estate agent is available.

“Real estate is about housing, but ultimately it is really about relationships and connections,” Riggs said. “Always take the time to do your homework, but talk it over with a Realtor. Let them help to guide you and add some color to your plan.”

Glen Riggs was born and raised in Livermore and is very active in our community. Glen represents buyers and sellers in the Tri-Valley. He has been accredited as a Seniors Real Estate Specialist (SRES) and loves providing real estate assistance to those who are not sure where to start. Reach out to him at Glen@GlenRiggs.com to help you or someone you know get started today.