Press Release | 8-18-09
EMPIRE REALTY ASSOCIATES RECEIVED FIRST PLACE IN LEADING REAL ESTATE COMPANIES OF THE WORLD CONTEST
DANVILLE - Leading Real Estate Companies of the World® (LREC) is a global network of over 600 premier real estate firms with 5,000 offices and 150,000 sales associates in 35 countries around the world. They serve as a multi-dimensional local, national and international resource to the media, as the voice of real estate and relocation news and trends. Empire Realty Associate is proud to be a member of the LREC.
The LREC held a three month (April, May, and June) contest to generate outgoing referrals for year over year improvement. Empire Realty received first place recognition by sending out 19 more referrals than last year during these three months. Overall, the companies that participated in this contest increased referral production by 34.57% compared to last year.
"I am honored to receive this recognition. The credit goes to the excellent agents at Empire Realty. I am privileged to work with these agents", says Sara Dillion-Ardell, CRP, Director of Relocation Services.
For more information, please contact Sara Dillion-Ardell at (925) 217-5087 or at SDillionArdell@EmpireRA.com
Press Release | 8-12-09
EMPIRE REALTY ASSOCIATES WELCOMES GUEST SPEAKER CAROLE RODONI TO SALES MEETING
DANVILLE - Empire Realty Associates was pleased to have guest speaker Carole Rodoni, President of Bamboo Consulting, attended their joint sales meeting on August 5th. Carole Rodoni, former President of Fox and Carskadon Real Estate, Chief Operating Officer of Cornish and Carey Real Estate, and President of Alain Pinel Realtors, is a renowned speaker on the economy and real estate.
Carole shared some insight on the real estate market and the economy for 2009 and beyond. She discussed topics related to recent new regulations HERA & HVCC, profit/loss tax/accounting modifications extended by federal government to lending institutions, where we've been, where we are, where we're going and more!
Carole stressed the importance of sellers pricing their homes correctly the first time. She says, "the first number is essential!" Carole also discussed appraisal issues and comparable market statistics. She stressed the importance of looking at comparable homes that have gone sold or pending within a half mile radius. Foreclosures also play a huge influence in our market. Foreclosure sales attribute for about 45% of the market nationally, while in the Bay Area, foreclosures make up about 38% of sales.
"We are always so pleased to have Carole speak to our group. She is a wealth of knowledge. Her expertise and overview of the economy are unparalleled!", says Hank Perry, President, Empire Realty.
Carole has served on the Board of Regents of Santa Clara University, is a Member of the Board of Directors of BayNet and CondoWorks, and has been a guest columnist for the San Francisco Examiner. She also is a frequent guest speaker on several radio and TV programs across the Bay Area.
For more information, please contact Katie Lance, Marketing Manager at (925) 217-5004 or at KLance@EmpireRA.com.
FHA will be modifying it's approval process for Condos starting October 1.
One important change is the elimination of the "Spot Approval" option!
For FHA case numbers assigned after October 1, lenders/builders will have 2 options to get a complex approved; through HUD directly (typically at least a few months process), or essentially approving it themselves by following a strict set of guidelines, and then taking on an extremely large amount of responsibility.
For projects previously approved, lenders must certify that they are not aware of any change in circumstances since the initial approval of the project that would result in the project no longer complying with FHA requirements. And, such project approvals will expire 2 years from the date placed on the approved list, whereupon they will need to go through one of the 2 options above to become reapproved.
At this early juncture, the most important deductions from this information I foresee are:
In general, financing for condos will likely become more restrictive.
As this information is just recently coming out, know that I will keep you informed of updates that will assist you in your business. For more information about us, please click here!
written by: Michael Michael DiMaggio Senior Consultant RPM - Alamo 925-683-9991 - direct 1-866-743-0406 -fax www.rpm-mtg.com/mdimaggio License #001139789
posted by: Katie Lance, Marketing Manager, Empire Realty Associates
Volume 30, Number 7 July 2009
Mid-Year Market Summary
By Robert A. Kleinhenz, Ph.D., Deputy Chief Economist
The California housing market showed more signs of emerging from the worst of the market downturn in June as the median price rose for the fourth straight month and sales registered significant year-to-year and year-to-date gains.
At $274,740 in June, the median price rose to its highest level so far this year and stood 4.2 percent higher than the May revised median price of $263,600. The median remained well below levels of a year earlier, however, with a 26.4 percent decrease from the June 2008 median of $373,100. Year-to-year changes have been less severe in recent months and the June decrease was the smallest since February 2008.
June sales dipped 6.0 percent from revised May sales of 546,750 homes to a June sales figure of 514,110 homes, but showed a 20.1 percent increase over prior year sales of 427,910 homes. This was the smallest percentage gain in a year, and smaller gains are expected through the rest of the year. Still, sales in the first half of the year exceeded the same period a year ago by 50.6 percent and annual sales for all of 2009 are expected to be 25 percent ahead of last year’s pace.
With an unsold inventory index in June at 4.1 months, the supply of homes has decreased steadily since the start of the year when the index stood at 6.6 months. The index is now 3.5 months lower than a year earlier and well below the peak of 16.6 months in early 2008.
In fact, low inventories may constrain sales and contribute to upward pressure on home prices through the rest of the busy season.
The mix of sales has changed dramatically since the beginning of the year. In January 2009, the price segment under $500,000 accounted for 85.0 percent of the total market, the segment between $500,000 and $1 million made up 12.4 percent of the total, and the segment above $1 million made up 2.7 percent of the total. By June, the segment under $500,000 fell to 76.5 percent, middle segment rose to 18.2 percent, and the upper segment doubled to 5.4 percent of the total market. A year earlier, the respective market shares were 67.1 percent, 23.8 percent, and 9.1 percent.
The market continues to cope with a large number of distressed sales in many parts of the state, especially inland areas where 2/3 or more of the market consists of distressed properties. Still, the market share of distressed properties has declined in many parts of the state from March to June of this year, contributing to the median price gains across the state.
To view complete report, click here
ADDITIONAL REPORTS:
7 Day Market Update Contra Costa County | 7 Day Market Update Alameda County | Main Local Market Update Page | REO & Short Sale Fact Sheet | Semi-Annual Artisan Luxury Home Report | Trends in California Real Estate
Market Overviews
Median Price/sf. ft and Average Days on Market Charts
Alamo, Blackhawk, Danville, Diablo and San Ramon | Antioch and Brentwood | Berkeley, Oakland and Piedmont | Clayton, Concord, Martinez and Pleasant Hill | Castro Valley, Hayward, San Leandro and San Lorenzo | Dublin, Pleasanton, Livermore and Sunol | Lafayette, Moraga and Orinda | Walnut Creek
Detailed Reports for Each City and Zip Code
Alamo |Antioch | Berkeley | Blackhawk | Brentwood | Castro Valley | Clayton | Concord | Danville | Diablo | Dublin | Hayward | Lafayette | Livermore | Martinez | Moraga | Oakland | Orinda | Piedmont | Pleasant Hill | Pleasanton | San Leandro | San Lorenzo | San Ramon | Sunol | Walnut Creek
Check out market stats for single family homes in San Ramon and Danville this past week:
Many people love to live in either San Ramon and Danville for its wonderful weather, schools, proximity to the freeway, jobs available, the community activities available, and so much more. Both communities are near and dear to me, as I grew up in San Ramon, and graduated from Cal High, and now have family in Danville. Much has changed since then, but much is the same. San Ramon and Danville are still great places to live and work and for many people, to raise a family! The shopping and restaurants can't be beat, there is always something fun to do!
Below is a snapshot of the San Ramon and Danville markets for single family homes only (condos/townhomes not included in these #'s)
7-day Market Stats for Single Family properties in SAN RAMON, CA (as of July 24 2009 )
Median List Price: $799,000
Average List Price: $940,373
Total Inventory: 136
Price Per Square Foot: $316/SqFt
Average Home Size: 2,848 SqFt
Median Lot Size: 8,132 SqFt
Average # Beds: 4.08
Average # Baths: 3.15
Homes Absorbed: 22
Newly Listed: 16
Days on Market: 127 days
Average Age: 20 years
7-day Market Stats for Single Family properties in DANVILLE, CA (as of July 24 2009 )
Median List Price: $1,038,000
Average List Price: $1,331,040
Total Inventory: 221
Price Per Square Foot: $379/SqFt
Average Home Size: 3,209 SqFt
Median Lot Size: 13,722 SqFt
Average # Beds: 4.25
Average # Baths: 3.26
Homes Absorbed: 16
Newly Listed: 14
Days on Market: 155 days
Average Age: 26 years
If you'd like more information, here are a few links you may find helpful:
San Ramon stats: http://www.empirerealty.com/infotopic.asp?InfoID=559
Danville stats: http://www.empirerealty.com/infotopic.asp?InfoID=543
Contra Costa Country 7 day market updates: http://www.empirerealty.com/infotopic.asp?InfoID=569
Feel free to sign up for our free weekly market updates on our site to have these reports emailed to you weekly!
posted by Katie Lance, Marketing Manager, Empire Realty Associates
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We are the Empire Realty Associates Marketing Team! Marketing Manager Katie Lance, Marketing Coordinator Audrie Nguyen, Marketing Assitant Erin Yee, Listing and Sales Coordinator Kendra Spencer.
Empire Realty Associates is a local real estate company with deep roots in our community. Our offices in Danville and Walnut Creek are home to nearly 100 agents, many of whom have worked and lived in the Diablo and Tri-Valleys for over 20 years. Our team of talented and experienced agents are masters of our market and intimately involved in our communities.
Empire Realty is built on a unique shareholder business model. Over one-third of our agents are shareholders, distinguished as partners in the company. All agent associates are invited to participate in leadership roles and to impact the way we do business.
Leadership opportunities at Empire Realty include:
Because Empire Realty Associates was created by and is wholly owned by agents whose licenses are held at Empire Realty, it is a place of career empowerment. We are viewed by our industry as an innovative real estate model where people work together to benefit our clients and our communities.
Our offices specialize in the sales of fine homes throughout the East Bay of the San Francisco Bay Area. Whether you are looking to buy or sell a luxury home in a fine neighborhood, or looking to get started in a place where you can enjoy the benefit of fine schools and a quality lifestyle, our real estate firm is equipped to handle your needs.
If you are a top sales associate and have reached the limits of your potential at your current firm, please call me for a confidential interview to learn how you might benefit from the type of support and staff which Empire Realty Associates offers its' sales team.
Executive Team
Empire Realty's executive team and talented staff create a thriving, energetic environment to support the goals of our partners and associates.
veteran with over 20 years' experience, has demonstrated his leadership in negotiation and contract issues, working with the risk management team, and sharing his knowledge and experience in business development with agents and management. O'Grady has earned the GRI and CRS designations, closed hundreds of transactions, and served on the Contra Costa Association of Realtors' Grievance and Mediation committees. Linked-In ProfileBoard of Directors
Membership on the Board of Directors for Empire Realty is an honor and a responsibility. Board members must be partners in the company and are voted into their term by the agent-partners of Empire. A board member completes a 1-year tenure, during which time he or she guides the policies and initiatives of the company.
2008/2009 Board Members
RELOCATION DIRECTOR | Sara Dillion-Ardell
Sara Dillion Ardell brings over 20 years experience in the corporate relocation arena to Empire. Her attention to details is unsurpassed in the industry. In addtion, Sara has an extensive network and access to many different relocation channels to help corporations with group moves as well as individual clients. Contact Sara today!
OPERATIONS TEAM
Corporate and Operations Manager | Michelle Lee
Controller | Karen Marano
MARKETING TEAM
Marketing Manager | Katie Lance
Marketing Coordinator | Audrie Nguyen
Marketing Assistant | Erin Yee
TRANSACTION LIAISON & BROKER REVIEW
Transaction Coordinator, Office Manager (WC) | Tracey Casella - DRE licensed
TLC/Sales Coordinator | Dawn Hembree - DRE licensed
Listing/Sales Coordinator | Kendra Spencer - DRE licensed
TLC/Sales Assistant - Karma Allen
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