The Engels Real Estate» Real Estate

2353 Rock Point Place Livermore Open House on 2/4 & 2/5 1-4 p.m.

Cindy — Fri, 27 Jan 2012 20:58:18 +0000

Situated on a court, backing up to permanent open space with a lot size over 1/3 acre, this gorgeous one story French Country home offers privacy and space!

http://www.virtualtourcafe.com/mls/5774939

Forecast for 2012!

Cindy — Thu, 26 Jan 2012 19:31:58 +0000

This time of year provides just the right moment to take a brief look at the year past, and a thoughtful look forward to where we envision the Real Estate market will move.

This past year we experienced seemingly contradictory and sometimes confusing sales activity. On the one hand, prices, depending on your city and neighborhood, continued to fall. This was due, in part, to the effect of foreclosures, bank owned properties and short sales. Also contributing to lower home values was the general economic slowdown and tightening credit by the lending institutions.

At the same time we have seen what appears to be increased demand for homes listed in the medium price range. Rapid rates of sales are not unusual for properties listed at $600,000 and lower.

Very few homes are available and that is the reason demand seems high in those price ranges. There are still steady stream of bank owned foreclosures coming to the market, but not the huge number which are controlled by the” Big Banks” all hitting the market at one time, which we imagined might happen.

The price bracket of upper tier properties, sales activity is not very robust. For example, in Livermore, in the price bracket of $800,000 to $1,000,000 there are currently 24 homes currently listed for sale, which is double the number of homes, (12) “Pending and Sold” in the prior 3 month period. At the price bracket above, $1,000,000 to $1,200,000 there are 5 for sale and 1 pending and 1 sold in the same time period.

It is worth noting that statewide we are one of the healthiest real estate markets. So while we are still somewhat anemic, we are better off than most other California regions.

As to 2012, we know more “distressed” properties will be offered for sale by the banks and individuals who own them. This will continue to hold prices down. The salesman in me would like to be more optimistic, but the reality is that I do not expect home values to rise in 2012. Long term, this is still a great place to buy and own real estate. It is an asset that we all can look forward to performing very well over time. For 2012 though ¬- looks like another year pretty much like the one we just had!

Please, for our opinions of your specific real estate situations, just call or e-mail Cindy or me. We look forward to seeing you in the New Year!

2261 Gerhringer Drive, Concord (SOLD!)

Cindy — Thu, 09 Jun 2011 21:15:20 +0000

Perfection! Newly remodled and centrally located, this home is move-in ready! 3 Bedrooms, 2 Baths, Approx. 1,161 sq. ft of living space. Large, private backyard.

Total remodel includes: New Kitchen with stainless steel applicances, Refrigerator,Gas Stove,Dishwasher,New Sink and Granite Counters.

Baths will all new fixtures

Six panel doors, new flooring, new paint, new heating and air conditioning

2359 Greenberry Court Pleasanton (Sold!)

Cindy — Thu, 19 May 2011 18:58:09 +0000

Recap of 2010 Real Estate Market & FORECAST For 2011!

Cindy — Tue, 18 Jan 2011 23:13:45 +0000

RECAP OF THE 2010 REAL ESTATE MARKET & FORECAST FOR 2011

As I do each year, I am writing to recap the 2010 real estate market and to forecast what is coming in 2011.

In regard to 2010, the sales activity in the Tri Valley reflected the increased number of “distressed properties”, that is “short sales” and bank owned properties. However, Pleasanton for example, has experienced less of an impact by these categories of sales than most California communities. I believe this is due, at least in part, to the diversity of employment opportunities afforded by living at the hub of the 580/680 corridor. We enjoy a manageable commute to several different job centers and the work force which resides here is spread out among many diverse companies and industries so the employment, or unemployment, numbers have not been as negative as some of the surrounding counties. While we have certainly not escaped entirely the loss of real estate values, we have not taken as big a hit as many, [most], other areas. I can hear many of you saying, “I lost $200,000 in value of my home and you want me to feel good that it is not $300,000.00”, in a word YES! The number of homes for sale is seasonally and historically low, [135 currently on the market in Pleasanton for example], at this writing. With 77 homes currently “pending” that translates to less than a 2 month inventory. That is a very robust rate of sale, and one that most other cities would envy. The statistics vary somewhat in Dublin due to the large number of new homes which came to market at or just before the peak. Livermore is “in between” Dublin and Pleasanton, relative to the impact of the effect of the housing turn down.

Looking forward to 2011, my crystal ball is saying that barring any rapid or steep increase in the mortgage interest rates, or excessive release of homes by the banks which now own them, 2011 should be a stable and active real estate market in the Tri Valley.

What does that mean to you? If you are moving up, great time to do so. If you are buying your first home, or an investment property, also a good decision, prices and interest rates will most likely go up, so why would you wait? If you are moving down, “right sizing” is becoming a meaningful segment of the market. The very first wave of baby boomers reach age 65 this January, one story homes are in demand!

If I seem to be optimistic, it is because I am! I can hear the snow plows all over the Midwest clearing the driveways of thousands of people packing up and heading for California. Here, in spite of all the budget problems of the state and local municipalities, is where a lot of people want to live. Our resorts, beaches, mountains, and vineyard destinations as well as our technological and educational institutions, are the envy of many less blessed states and countries. People want to visit and live in California. Our real estate is still a very sought after and prized asset. If you own some of this real estate, be glad and thankful, if you don’t buy some, it will serve you well in the long run!

I have, as always, been brief. If you would like more specific data, please let us hear from you, we welcome your input.

Sincerely,

Joel Engel

Be sure to check out our new “blog”, www.trivalley365.com!! The website will offer daily highlights of the Tri-Valley businesses, restaurants, arts and entertainment and fun things to do in our beautiful area of Northern California.

(Image from www.realestateclipart.com)

Neighborhood Market Activity

Cindy — Thu, 11 Nov 2010 23:53:06 +0000

Your Neighborhood
Real Estate Market Update!
(The Meadows/Pheasant Crossing) September 2010
ACTIVE
Address	Listing Price	SqFt	Bed	Bath	DOM
Churchill Dr.	$579,900	1584	4	2	71
Stacey Ct.	$600,000	1780	4	2	70
Royalton Ct.	$625,000	1941	3	3	70
Annis Cir.	$627,000	1588	3	2.5	20
Vermont Pl.	$652,000	1881	3	2	13
Staples Ranch Dr.	$662,000	1603	3	2.5	20
Windsor Ct.	$693,000	1956	4	2	47
Fairlands Dr.	$695,000	2540	4	3	23
Balmoral Ct.	$749,950	1941	4	3	51
Boardwalk St.	$783,800	2000	3	2.5	70
Byron Ct.	$599,000	2633	3	2	40

PENDING
Address	Listing Price	SqFt	Bed	Bath	DOM
Gulfstream St.	$669,888	1959	4	2	15
Yorkshire Ct.	$710,000	2144	4	2.5	16
Park Pl.	$650,000	1881	3	2	7

SOLD
Address	Listing Price	Sold Price	SqFt	Bed	Bath
W Las Positas Blvd.	$649,000	$630,000	1721	4	2
W Las Positas Blvd.	$679,900	$670,000	1941	4	3
W Las Positas Blvd.	$680,000	$680,000	1941	4	3
Mendenhall Ct.	$689,000	$675,000	1586	3	2.5
Boardwalk St.	$689,000	$678,000	1991	3	2.5
Boardwalk St.	$689,950	$700,000	1991	3	2.5
Kirkcaldy St.	$719,000	$711,000	1802	4	2
Suffolk Way	$749,950	$767,500	2071	3	3
Cranwood Ct.	$750,000	$755,000	2400	4	2.5
Ballantyne Dr.	$759,000	$746,000	2464	4	2.5
Rathbone Way	$899,899	$899,899	2522	4	2.5
Berkshire Ct.	$975,000	$975,000	3026	4	3

South Livermore Market Activity (September 2010)

Cindy — Thu, 11 Nov 2010 23:45:13 +0000

Your Neighborhood
Real Estate Market Update!
(South Livermore & Expanding Area) September 2010
ACTIVE
Address	Listing Price	SqFt	Bed	Bath	DOM
Lennox Ct.	$1,399,950	5104	4	4.5	42
Westbrook Ln.	$625,888	2300	5	2	49
Cascina Ct.	$949,000	3328	4	3	7
Wood Hollow Dr.	$1,175,000	4455	5	5	29
Saratoga Ct.	$1,475,000	4479	4	4.5	210

PENDING
Address	Listing Price	SqFt	Bed	Bath	DOM
Lomitas Ave.	$599,900	2291	4	2.5	56
Wood Hollow Dr.	$815,000	3396	4	3	8
B ay Meadows Ct.	$1,150,000	3772	4	3.5	2
Mars Rd.	$618,000	2291	4	2.5	55
Sheffield Dr.	$749,000	2875	4	2.5	10
Belmont Ct.	$1,420,000	5051	6	5.5	13
Lakeside Cir.	$700,000	2532	4	2.5	8

SOLD
Address	Listing Price	Sold Price	SqFt	Bed	Bath
749 Orion Way	$549,000	$540,000	1600	3	3
2238 Norwood Rd.	$550,000	$550,000	1704	3	2
1727 Prima Dr.	$734,900	$735,000	2424	3	3
1316 Carlton Pl.	$750,000	$750,000	3498	5	3
784 Barleta Ln.	$799,900	$800,000	3955	6	4.5
309 Old Oak Rd.	$830,000	$830,000	2850	4	3.5
1159 Lexington Way	$878,000	$875,000	3491	6	4.5
260 South Sea Way	$878,800	$875,000	3456	5	3
1089 Old Oak Rd.	$899,000	$890,000	2874	3	2.5
167 Campo Ct.	$949,000	$930,000	3532	5	4.5
2802 Barouni Ct.	$1,119,500	$1,130,000	3704	4	3.5

172 W. Charlene Ct., Mountain House (SOLD!)

Cindy — Thu, 11 Nov 2010 23:12:39 +0000


Listing Price: $295,000
Address: 173 W Charlene Ct.
City: Mountain House
State: CA
ZIP: 95391
MLS #: 
Square Feet: 1999
Bedrooms: 3
Bathrooms: 3
Status: Active


Other features: Pride of Ownership! Gorgeous Pool & Spa! Pulte Home with all the upgrades! S/S Appliances, Granite Counters, Designer Touches, Custom Paint! Great Culdesac location! Larger backyard with no rear neighbors, close to park and school. Home is a short sale.

3016 Enfield St, San Ramon (SOLD! 11/2010)

Cindy — Tue, 03 Aug 2010 22:13:05 +0000

Tri-Valley Market Update! (July/August 2010)

Cindy — Fri, 30 Jul 2010 20:21:14 +0000

THE ENGEL TIMES (July/August 2010)

WHERE DO WE GO FROM HERE?

The Real Estate Market in the Near Term:

Our take on it is that it all depends on…jobs.

Affordability is the driving force impacting home prices right now. If in the East Bay’s economic future, employers start hiring, (and paying competitive salaries), then demand for homes will continue and strengthen.

Having to forecast based on current conditions, our expectation is that values will stay pretty much where they are now, with a possibility of lowering somewhat further. We are currently transferring ownership at mid-2002 price points.

Depressed sales are accounting for:

SHORT SALES REOS [BANK OWNED]

LIVERMORE 27.83% 18.26%

PLEASANTON 13.82% 5.69%

Please contact us for any specific data you may require as to your particular situation and location.

CURRENT INTEREST RATES

Conforming (up to $417,000)

15 year fixed

3.875% at zero points

4.00% at no cost

30 year fixed

4.3750% at zero points