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Real Estate Informer

Real Estate News of the San Ramon Valley and Lamorinda

from Bernard Gibbons of Intero Real Estate Services

 

April 2006

 

 

925-997-1585 – Direct                    Bernard@BernardGibbons.com

 

State Of The Real Estate Market

In The San Ramon Valley

This should help you decide if it’s better to buy or sell now or wait until later

Spring is traditionally the most popular time of year to buy or sell a home. The week after Easter is traditionally the period when many homes are offered for sale and buyers are ready to write offers.

The past few years have seen tremendous increases in real estate values. Inevitably, the pace of growth started to slow and since fall of 2005 we have seen numerous articles in the press predicting that “the bubble is about to burst”. The reality is that there is no bubble, a fact confirmed by many economists, but that story does not sell newspapers. Prices have mostly remained static and numbers of home sales reduced but there has been no evidence to support this hypothetical “bubble” theory.

But what of the future? What can we expect to see in the rest of 2006? I don’t have a crystal ball but the following considerations appear to suggest that there is little point in delaying a sale or purchase:

1. The federal funds interest rate has just been increased for the 15th time in a row. The indication is that this will continue to be an ongoing pattern for some time. While this indicates confidence in the economy, it also means an inevitable increase in mortgage rates, which are still very attractive. If you delay a home purchase, your mortgage will probably cost you a lot more in a few months time.

2. The Bay Area economy is strong and there are plenty of job opportunities in most areas. Silicon Valley and other parts of the South Bay are seeing boom times once more. What happens in the South Bay is often a precursor of what happens in the East Bay (many people commute to Silicon Valley from the East Bay). Jobs drive the real estate market.

3.  The median sale price in Contra Costa County in February was $540,000. This is the latest figure available and compares to $467,000 in February 2005. This looks like a pretty strong housing market to me.

There are a lot of homes for sale in Contra Costa County at the moment. You would think that buyers would have no difficulty in getting what they want, maybe even at lower than list price. The reality is that although there are a lot of homes for sale in general, there are quite a few areas where people want to live that are very short of homes for sale. West side Danville and Twin Creeks, San Ramon spring to mind as immediate examples.

As I say, I don’t have a crystal ball but if I was planning to buy a home this year I would move sooner rather than later. The likelihood of increasing mortgage payments alone would convince me of that.

 


 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 Bernard Gibbons on (925) 997-1585.

 


Restaurant Review

Swad Indian Cuisine, 3602 Mt Diablo Blvd., Lafayette

Another Indian restaurant review! What can I say? My only excuse is that Indian Food is my big addiction!

Swad is a new Lafayette restaurant. As soon as I saw it, I knew I had to go there. Unlike in most Indian restaurants, the owner has gone to a great deal of trouble to make the restaurant enticing as well as the food. The ambience is decidedly minimalist with yellow colored walls and ceramic tile floors, yet an air of Indian authenticity is retained with a number of wall-hangings and black & white photos on the walls, all obviously Indian. It is a fairly small space but there is also have some outdoor seating on a pleasant patio that will undoubtedly be popular when we eventually get some decent weather

“But what about the food?” I hear you say. Well you will be pleased to hear that I consider Swad to serve the best Indian food I have tasted in years. And I am including restaurants visited in England where Chicken Tikka Masala is now considered to be the national dish.

The menu appears to be very similar to most other Indian restaurants in the East Bay although there appears to be a wider range of vegetarian dishes than usual. There are plenty of Tandoori selections and the balance of the main courses is divided between Chicken, Lamb and Seafood dishes.

Some of the less common items include Tariwala Murg (chef’s home-style chicken curry with yoghurt and spices, Chandani Gosht (lamb simmered in cardamom flavored cashew nut sauce) and Rasmalai on the dessert menu (farmer’s cheese dumplings with saffron flavored thick milk sauce).

Sylvia and I visited Swad on a cold, wet Tuesday evening in March. The restaurant was about two-thirds full and remained so through our visit as the tables turned. Service is attentive but not obtrusive. We were seated promptly and left alone to peruse the menu while we enjoyed some Kingfisher beer. We were then served with complimentary Papadums that were crisp and light with no trace of oil. Sylvia ordered a Butter Chicken ($11.95) and I had a Murg Elaichi (Chicken) Korma (also $11.95). In practice we shared them as is common practice in an Indian restaurant, together with a plain Nan ($2.00) and a portion of Saffron Rice ($1.50).

Everything was absolutely exquisite. The chicken was tender, the sauces were outstanding, each of them subtly flavored with just the right amount of spiciness. Portion sizes were ample. The prices are a little higher than in some other Indian restaurants but still very reasonable, especially considering the quality of the food. I have no doubt that this will become a regular eating place for Sylvia and me. ■

Reviews such as the one above are included as a service to introduce people to interesting restaurants in the San Ramon Valley. They should not be taken as any form of recommendation. We have no connection with any restaurateurs in the area and all opinions expressed are strictly those of the writer.

 


Coming Soon - Great New Listings in Twin Creeks, San Ramon

 

$800-900,000 Price Range

 

Single Level & Tri-Level

Detached Single Family Homes

I have a number of sellers in Twin Creeks who are in the process of putting the finishing touches to their homes prior to listing them for sale. These are all considerably updated and in very good locations. Prices, though yet to be finalized, will be in the range $800-900,000. Contact me now if you would like to have advance notification regarding these properties.

Call Bernard Gibbons on (925) 997-1585 or email Bernard@BernardGibbons.com.

 


Are You Looking For A 2nd Home?

If you are thinking about buying a second home, either a vacation home or an investment property, I can probably help you. I can show you everything that could interest you in the East Bay and I can also introduce you to a financing specialist who can show you how to use the equity in your present home to help finance the purchase of an additional one.

If you are thinking about buying an investment property or vacation home further afield, I can also help you. Through a network of carefully selected real estate professionals of which I am a member, I can refer you to a top agent anywhere in the country who will provide you with the highest level of service when it comes to helping you buy a home.

Please feel free to contact me with any questions. You can call me on my cell phone at (925) 997-1585 or send an email to Bernard@BernardGibbons.com.

Bernard Gibbons


Thinking About Moving? – Get This FREE e-Book

Before you put your home on the market, get a copy of my FREE e-Book, “450 Ideas To Help Your Home Sell FASTER”. This is no lightweight brochure – 52 pages of useful information on preparing your home for sale.

For your FREE copy, point your web browser to www.BernardGibbons.com and click on the “FREE Home Preparation e-Book” link or just send an email to Bernard@BernardGibbons.com and I’ll send you a copy by return.

 

 


 

LISTING ALERTS: Click here to get details of all new listings that could interest you sent from the Contra Costa / Alameda Multiple Listing Service direct to your email in-box



San Ramon Valley Market Update

Information To Help You Understand The Value Of Your Biggest Investment

The 40 most recently Closed Sales in Alamo, Blackhawk, Danville, San Ramon, Walnut Creek, Lafayette, Moraga and Orinda

(Sorted By City and Price)

Address

City

Beds

Baths

Part
Baths

Sq Ft

Lot Sq Ft

Sold Price

DOM

2478  Alamo Country Cir

Alamo

5

4

1

4057

22781

$2,040,000

9

1537  Serafix Rd

Alamo

5

4

1

5171

16120

$2,250,000

15

1552  Mission Dr

Danville

3

2

 

1638

2520

$620,000

53

411  Skylark Ct

Danville

3

2

1

1599

0

$630,000

21

1833  Forest Hill N Pl

Danville

3

2

1

1664

3200

$663,000

11

15  Cross Bridge Ct

Danville

4

2

0

2458

7500

$1,025,000

16

35  Devonshire Ct

Danville

4

2

0

1860

11400

$1,050,000

3

627  Crystal Springs Ct

Danville

4

3

0

3278

9900

$1,185,000

5

795  Tunbridge Rd

Danville

4

2

1

2941

12850

$1,275,000

13

106  Carole Meadows Ct

Danville

4

3

1

3114

13750

$1,359,000

8

106  Windover Dr

Danville

4

3

1

3669

12632

$1,500,000

14

3336  Springhill Rd.

Lafayette

4

3

 

3200

27007

$1,399,000

14

80  Miramonte Dr

Moraga

3

3

0

1742

1568

$635,000

17

830  Augusta Dr

Moraga

2

2

1

1743

3795

$762,000

1

1204  Larch Ave

Moraga

4

2

0

2102

12000

$1,100,000

9

158  Selborne Way

Moraga

4

2

1

2433

11500

$1,299,000

23

73  Brookwood Rd, #38

Orinda

2

1

 

882

0

$455,000

12

205  Glorietta Blvd

Orinda

3

2

0

1524

20038

$750,000

7

39  El Gavilan

Orinda

4

4

0

3249