Joe Kaplan - Davis, CA Broker Associate

DOM and DOMMER

DOM, or Days on Market, is a helpful gauge as to the health of the real estate market. The average DOM for residential solds in Davis for 2008 is 71, per MetroList MLS. In 2007, solds from Jan 1 through April 29 averaged a nearly identical 70 DOM. In 2006, the figure for the same dates was an incrediblely brisk 11 DOM. By comparison, the Woodland DOM for solds in 2008 YTD is 92. It was 92 last year at this time and a microscopic DOM of 8 in 2006 YTD.

DOM can range from 0 days to a year-plus. Most importantly, even though the average DOM has swelled since the housing bull market, 37% of all closed residential sales in 2008 sold within 30 days. (The figure was 48% in 2007 and 88% in 2006.) Even in a tepid market, if your home is priced correctly, presents well, is marketed properly, and you or your tenants are flexible for showings, it very likely will receive a strong offer in the first 30 days on the market. Pricing is the key, of course, but the other intangibles certainly increase the probability of success.

633 Amherst Drive, Davis, CA

Just listed!

You must see this updated and expanded Oeste Manor home with four bedrooms, two full baths and 2,216 square feet of living area. The home boasts photovoltaic plus a geothermal ground source heat pump for energy savings. Livable indoor and outdoor spaces. The Central Davis location is stellar, with an easy walk or bike to campus and downtown. This is a truly green home in energy efficiency and use of materials.

What is Solar-Geo?

Plenty of homes have photovoltaic panels, and some have geothermal. But 633 Amherst is a unique combination of both clean energies. Since the owners had already completed similar projects, they remodeled the fifty-year old home to combine solar photovoltaic electricity generation with geothermal ground-source heat pump technologies. The WaterFurnace geothermal system uses the renewable energy source in the earth to heat and cool the home, instead of gas and electricity. The system provides cleaner indoor air quality than combustion of fossil fuels by using the Earth and Sun as the energy source.

Attention to detail, energy conservation and sustainable choices:

633 Amherst was designed to include many details sensitive to comfort and sustainability. For example, the flooring is made from ecological forest thinning, using no harmful additives and adding to a natural and healthy room climate, and is particularly recommended for people with dust allergies. The home takes advantage of natural daylighting and ventilation, with French doors and operable clerestory windows. Motion sensors, timers and efficient lighting reduce and automate energy use. As a result of the sustainable design of the home, the total energy bill for 633 Amherst is less than comparable homes.

Listing agent is Cynthia Gerber, a colleague at Coldwell Banker Doug Arnold Real Estate. To schedule a private tour, please contact Joe Kaplan today at 530.304.5978.

I've been beating this dead horse for over ten years. Investing in real estate in Davis, CA is a safe bet relative to other areas within the Sacramento area due to the influence of UC Davis. Prices in Davis have fallen 10-15% from the peak of the market in 2005, whereas in some communities like Woodland, West Sacramento, Natomas, Elk Grove, etc. home values have tumbled over 30%. It's a matter of supply and demand. A recent article in Newsweek, (Feb. 18) illustrated that as student populations continue to increase, (enrollments are increasing twice as fast as the general population), combined with the attractive lifestyles, good healthcare and employment these communities offer, it's a bright spot on the real estate radar. "Activity around college campuses should really hold up, better than the market as a whole," says Walter Molony, a spokesman for the National Association of Realtors.

Over the years, I have assisted countless parents of incoming or returning UC Davis students investing in the Davis market. Condos, split-lots and affordable starter homes are all wise choices, and they're sprinkled throughout the city. There's no one student ghetto in Davis where students are aggregated. Housemates often pay rent to help defray the mortgage costs, and by the time of graduation, looking three to four years into the future, values could certainly be much higher than today, creating a nice profit when the home is sold.

Per MetroList MLS, in the last thirty days only two Davis condos have closed escrow (compared to a meager three for the same thirty days last year) , and there are only five condos with pending sales. Currently Davis has 27 active condos on the MLS. The market has perked up in other categories, most interestingly, homes over 700k. Just an observation.

CENTRAL DAVIS

So here's where the tour ends, Central Davis. The most central part of central Davis is known as the core, (go ahead, picture Davis as an apple). The core, unlike many central business districts today, is thriving. Target opponents argued that the proposed big-box to be constructed near Mace Blvd. will destroy downtown businesses, and whether that happens remains to be seen. The core has its share of great restaurants, bike shops, art galleries and boutiques. A prized landmark is the Dresbach-Hunt-Boyer House, located at 604 Second St., listed on the National Register of Historic Places. Central Park and its Farmers Market, with streets B and C, and 3rd and 5th at its borders is one happenin' place on Wednesdays and Saturdays.

The price per square foot for homes in the core is generally at a premium relative to the rest of town. Many of the properties are charming cottages from the 1910's, 20's and 30's. The residential area between 5th and 7th and B and the tracks, Old North Davis, is prime real estate, shouting distance from the Davis Food Co-op on G St., and all the downtown venues to its south. The UC Davis campus joins downtown at A St., and their proximity to one another infuses downtown with campus staff, faculty and students throughout each day. As UC Davis enrollment for its summer sessions continues to grow, the core remains vibrant throughout the summer, whereas in years past it was quieter when the mercury soared.

East Central and West Central Davis are neighborhoods featuring many homes built in the 50's and 60's, abundant with mid-century moderns built by Streng Bros. on streets named for U.S. colleges, rather befitting of the second-most highly educated city in the country (as of 1996, Money Magazine). College Park, just west of downtown, is the most prestigious address in town, with older homes representing a variety of architectural styles, eg. Colonials and Tudors, situated among beautiful gardens and shady lawns. The UC Davis Chancellor's residence is on College Park, as well.