An interesting observation coming from today’s Broker Tour

This morning I hosted the Broker Tour for the home featured on my previous posting. In this crazy market where there are only 55 residential properties for sale in a community of over 73,000 I was expecting a big turnout even though the property is over $1,000,000.  And I was not disappointed.  About 35 agents, 4 with clients, and 6 more showing this weekend.  

What did surprise me was that the only ones who thought the price was out of line were some of the agents who say they specialize in the neighborhood.  This is not an unusual event.  I have been guilty of it myself.  Some "Specialists"  focus so much on their small territory that they don't look at the big picture and how it impacts that little area.  As a result they can get out of touch.  

And when we see a market shift like we have started to see … the impact is quick and usually universal.  If prices are going up at 24% / year … 2% / month and a home gets priced 10% higher than the last comparable 4 months ago, that means it's listed within 2% of value right now … wait a month and it will likely sell … and if there are 10 people that want it now it will probably sell pretty quick.

The takeaway for everyone, whether agent, broker or client is simple:  be aware of what is actually happening in the market place and figure out how to get ahead of it.  You do that and if you are a buyer you will get your dream house.  If you are a seller you'll get your price. And if you are an agent you will have some happy clients.

Posted on February 7, 2013 at 4:11 pm
Steve Curtis | Category: Uncategorized | Tagged , , , , , , , , , , , , , , , , , ,

141 Sussex Ct, San Ramon CA – Coming Soon

This great property will be coming on the market in the next week or so.  It is indicative of the rapidly changing market place.  With so few properties available and so many potential buyers hoping to purchase the prices are rising rapidly (averaging over 20% in the last 12 months).  This same floor plan sold last fall for $975,000 even though it was on a through street.  




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Windermere Bay Area Properties
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141 Sussex Ct
San Ramon, CA
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Coming Soon

Deer Ridge – Coming Soon – VIRTUAL TOUR

$ Click for current price
3 BATHROOMS (2 full, 1 half)
3176 Square Feet


 Lovingly maintained and beautifully remodeled, this Deerridge tri-level is in move-in condition.  With a huge remodeled cherry, granite and stainless kitchen the home is perfect for both impromptu gatherings and large holiday meals, especially with the over-sized dining room that will take both a large dining table and a hutch for those showcase pieces.  The remodeled Master Suite is just a couple of steps above the main living level and includes a walk-in closet, separate sitting area, fully remodeled bath with an oversized stall shower and a tub for soaking.  Tucked away at the top of the stairs is a large office/den/hideaway that could also work well as a kids playroom.

Summer barbeques are easy with the large, trellis-covered patio right off the family room.  The large, level yard includes a spacious lawn, perfect for everything from croquet to a game of tag.

Nearby you'll enjoy the huge community park, the Ironhorse Trail system, both Club Sport and 24 hour Fitness, not to mention two golf courses, great local shopping and the Farmers' Market.


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Posted on January 27, 2013 at 6:46 pm
Steve Curtis | Category: Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Trulia finds that average list price of homes are increasing nationally

The chief Economist for Trulia, Jed Kolko, wrote yesterday (November 14th) that the List Price of homes is continuing to rise in many parts of the country including virtually the entire Western Region … for the entire article just click on the map below.

It should be noted that many of the communities where properties are now appreciating are the same ones that were hardest hit by the housing downturn.  The map below shows the rate of increase (or decrease) year over year for each state.  Some of those states that still show decreasing prices are those that have both high foreclosure rates and a very long process for completing those foreclosures (sometimes over 2 years even when there is little resistance by the homeowner) whereas states like California are seeing significantly fewer properties being foreclosed on and a dramatic (49%) decrease in the number of new defaults being filed.  Fingers crossed that the light at the end of the tunnel no longer appears to be a freight train :).

Posted on November 15, 2012 at 1:15 pm
Steve Curtis | Category: Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , , , , ,

The Wall Street Journal headlined Bidding Wars


On Friday, April 27th, the Wall Street Journal’s Nick Timiraos headlined that “Stunned Home Buyers Find the Bidding Wars are Back”.  In his article he notes that on a national level the market is balanced “when there is a six-month supply of homes for sale.”  Nationally that figure now stands at 6.3 months.

As usually happens the San Francisco Bay Area finds itself with even higher competition for homes with an overall time frame of just 3.4 months of inventory.  Central Contra Costa County, including Walnut CreekDanvilleLafayetteOrinda and Alamo, has less than 1.5 months of inventory based on the current number of detached homes for sale (698) vs the number closed sales in the last 30 days (467).  When I look for trends I also check the pending sales and for that same period there were a whopping 564 … barely a 37 day supply!

Most listings in our office are seeing 10 to 17 offers on them within the first several days.  Good news for sellers who are often ending up with sales over full price.  Not so good news for those buyers who expected to be able to buy from a never ending list of premium properties.

What’s next?  Expect this market to continue.  There will be some increase in inventory if  history repeats itself because most sellers finally get moving by May.  And that “hidden inventory” the banks control may start to appear on the market, but don’t expect those homes to have any fewer offers.  There is simply too much pent up demand.

Remember, however, that prices here in the Central County are almost exactly where they were in the spring of 2003 … and interest rates are at 4% now vs 5.75% in 2003.  That difference in interest rate will get you 21% more home today than in 2003.

Now may be the right time to jump into the market and get the home you want.

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Posted on April 28, 2012 at 1:52 pm
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