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for the Latest Listings and Real Estate Information
Where Is The The volume of home sales in the
nine-county Bay Area declined significantly on a year-over-year basis in
December as prices eased back from their November peak, a real estate
information service recently reported. Does this mean we are entering a slump in real estate
prices? Is the bubble about to burst? “Probably not” say most of the economists. There is really no
evidence of a “bubble”. This is just an idea that has been talked up by the press
who seem to only want to report on bad news. Nevertheless, the market is
definitely changing. "Demand still
seems to be there, but the sense of urgency seems to be a thing of the past.
We don't expect the market to tumble, but we do expect price increases to
level off between now and spring"
says Marshall Prentice, president of DataQuick, a
company that monitors real estate activity nationwide. Certainly there is strong evidence of
lack of urgency. At the time of writing, 75 sales have been agreed in the
Alamo, “We are
experiencing a return to a more balanced market, in line with our
expectations, although unsold inventory is still near historical lows, with a
3.6 month supply of homes for sale”
says C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “Time on the market also is nearly unchanged at 44 days in December
compared with 40 days for the same period last year” So certainly the market has slowed
down. From discussions with buyers and other agents, there is a strong
feeling that prices in many, although not all, cases are too high. Quite a
few people believe that many homes sold in the second and third quarters of
2005 were sold for more than they were worth so they are reluctant to buy
based on these comparables. Many sellers are unwilling to accept that premise
so they are offering their homes for sale at prices that are unrealistic.
This would certainly explain why fewer sales are being agreed. February 5th is Superbowl Sunday.
This is a day that many believe represents the start of the peak time for
home sales in our area. By this time next month, with a few weeks “normal” real
estate activity, we will undoubtedly have very strong indications as to the
future of the real estate market in 2006. ■ FREE Home Valuation Thinking of
selling? Home
prices have increased at a phenomenal rate over the past few years. To get a Free Up-To-Date Valuation of
your home without any obligation, together with suggestions for what you can
do to maximize its appeal, visit www.BernardGibbons.com or for an immediate response
call Restaurant Review
The Pleasanton
Hotel, Billed as the only
hotel in town without any rooms, the Pleasanton Hotel is a local landmark with
a restaurant that just keeps getting better. Built in 1864, then rebuilt in
1898 after a fire, this historic building is an outstanding example of
Victorian architecture, inside and out. The current owners, Bill and Vernie Laube, have been there
since 1983 and for many years have offered a lot more than just good food. A
glance at their calendar for January, which can be found on their web site at
www.PleasantonHotel.com, shows
a Even without all this, most of the hotel
patrons would just go for the food. Executive Chef, Neil Marquis, creates
appealing and inventive menus that just keep people coming back. Sylvia and I called in for dinner
recently on a Wednesday evening and the restaurant was about three-quarters
full. This is a very traditional formal Victorian dining room with white
table cloths. The service is first-class – attentive but not too much so. We
were presented with a complementary bruschetta
appetizer to enjoy while we perused the menu. Despite a tempting array of appetizers
(including some imaginative salads), we went straight to the main course.
Sylvia had baked Pacific halibut with a citrus herb crust and I chose English
sole stuffed with Dungeness crab and artichokes. This was served in a lobster
sauce with rice pilaf and grilled asparagus. Both dishes were excellent. Fish
dishes are a specialty of the house but they also have plenty of non-fish
dishes including a selection of steaks, meatloaf, chicken Neither of us are great dessert lovers
so we passed on that course although again, the selection was good including
Grand Marnier crème brulee, chocolate decadence and
lemon meringue pie. We had an excellent bottle of Wente
Riva Ranch Chardonnay though (well priced at $29.00). The Pleasanton Hotel is not a budget
restaurant but neither is it overly expensive. Main courses run from $15 to
$29 and they even have a full 3 course dinner made up of selections from the
regular menu for only $28.95. Apart from the restaurant, there is a
large saloon style bar and in better weather, a large garden area where
dinner can also be enjoyed. It is a great place to visit and enjoy the
ambience of a traditional Victorian restaurant with modern Reviews such as the one
above are included as a service to introduce people to interesting
restaurants in the JUST
LISTED FOR Totally Renovated & Remodeled Rural Retreat on Almost 1/3
Acre
If You Had Bought A Home “Back Then”… Are you trying to make
up your mind whether to "move up" to a bigger home or purchase a second
one (maybe a vacation home)? ...but it's too darned expensive? What's
the price of the home you want to buy? $500,000? $700,000? $1,000,000? If
you had bought that $700,000 home ten years ago, national averages say it
would have cost you around $392,000. Locally, most markets have experienced
much more price growth. In 1994, today's $1,000,000 home would have cost
about $560,000. That's because the national median sales price ten years ago
was 56% of today's price. Mortgage
rates are still very attractive. Once you buy a house, your payment remains
stable. If you get a fixed rate loan the payment will remain exactly the same
throughout your mortgage. Based
on historical appreciation, it makes little sense to postpone a home
purchase. Even though your present home continues to
increase in value, so does the difference in price between that and your next
home. So the longer you wait, the harder it gets to move. No
one can predict the future, but since 1968, houses averaged an appreciation
rate of 6.34% a year. That
doesn't sound like much? If you buy a $250,000 house today, no one can tell
you what it will be worth a year from now or five years from now but based on
6.34% annual appreciation, a home kept in good condition in a solid location
could be worth $1.5 million 30 years from now. That's
not a promise, though. One should consult with a qualified mortgage
professional prior to implementing any mortgage strategies. ■ If you want to explore the various financing options for a first or
second home, send me an email to Bernard@BernardGibbons.com
or call me on (925) 997-1585. I will introduce you to a mortgage specialist
who will show you what options are open to you.
|
|
Address |
City |
|
BR |
Bth |
½ Bth |
SqFt |
|
Sold Price |
DOM |
|
|
|
|
2 |
2 |
0 |
9999 |
109771 |
$1,925,000 |
9 |
|
|
|
|
5 |
3 |
1 |
3964 |
18990 |
$1,930,000 |
39 |
|
|
|
Marks |
2 |
1 |
0 |
1311 |
139827 |
$2,000,000 |
7 |
|
2132 |
|
Miranda |
5 |
8 |
1 |
5802 |
37462 |
$2,225,000 |
35 |
|
|
|
Camino
Ramon |
3 |
1 |
1 |
1344 |
912 |
$499,000 |
4 |
|
|
|
Old
Orchard |
2 |
2 |
1 |
1166 |
1000 |
$539,900 |
7 |
|
274 Ashley Cir |
|
Hartley |
3 |
2 |
1 |
1292 |
0 |
$570,000 |
67 |
|
2000 |
|
Camino
Ramon |
4 |
2 |
1 |
2263 |
2409 |
$751,000 |
36 |
|
44 |
|
Fountain
Springs |
3 |
2 |
1 |
1862 |
2880 |
$842,500 |
25 |
|
459 |
|
El
Pintado |
3 |
2 |
0 |
1659 |
19176 |
$850,000 |
20 |
|
|
|
- |
5 |
3 |
0 |
3355 |
6900 |
$999,900 |
20 |
|
3398 La Caminita |
|
|
3 |
2 |
0 |
1752 |
11830 |
$880,000 |
2 |
|
|
|
|
3 |
2 |
0 |
1300 |
9990 |
$915,000 |
11 |
|
|
|
Taylor
Or |
4 |
2 |
0 |
3000 |
23520 |
$1,215,000 |
9 |
|
|
|
|