I eat crow and willingly..I am officially eating back a big chunk of my pride and also my knowledge has been thrown into a twisted mangled knot.My last blog said that prices had stabilised but it looks like the market is totally at the hands of unscrupulous agents who keep dropping prices everytime their listing hits the market!
No one cares..Sellers on Short sales have moved out and don't care what the bank gets for their house. The listing agents give arguments till they turn blue in the face, but in my opinion it is all about their bottomline.They are destroying the values of the neighborhood and what is it going to take to stop them from dropping values?? Till the value becomes Zero?? Oh and BTW- 98% of the listing agents don't even live in the area, so why would they care?
Banks are run by morons...or super intelligent people. I am surprised how:
The banks are even accepting the listing agents pricing their portfolio at ridiculous prices
The banks are approving these sales!
Why don't these banks care what they get in lieu of their note?
An Appeal.. is anyone listening to me? I am a resident of Windemere and a Real Estate Professional. This is my plea to agents who DO NOT live in this area and who are listing homes here- please explain to me the logic of your pricing, stop dropping prices for no valid reason and stop destroying our neighborhood.
This seems like a downward spiral price war between the few listing agents, as to who races this area into the ground first !! Don't give me the reason that higher prices don't sell because honestly, you don't care. If you stopped pricing your next listing 50K below the last sold, then prices would stay calm.You are taking this to a whole new level of insanity and I am just surprised people still hire you to sell their homes when it is very clear that it does not bother you one bit where the prices go.
Great news for buyers...I am sure buyers will get great deals and I wish them well and maybe even some of my buyers will write up offers. Trust me, my heart sinks everytime I write the low offers because my house price sinks with it too and yet I have to do my due diligence to my clients.
We are in the price undercutting war and someone has to think about people living in the community who are not selling now but with every listing that comes on the market, their property value sinks to a new low.
It was a good day when I felt like a true rockstar ! Walked into a builder's sales office with a buyer and another buyer signing contracts looked at me and said-"You are Rama? We read your blog all the time and really like all the great info you put out"....... yes yes, I felt GREAT.And I thought to myself- then how come you are signing contracts without me??!!
I am definitely not the best journalist in town, knowing the nuances of writing but I am passionate about what I do for a living.Today I can say I am proud that my discussions about Windemere are being noticed and read seriously.The hardest part is to find relevant things to write about and I do the best to address concerns of buyers and sellers.
Finding the inside track on homes for sale is a sleuth's job in its basic form.A realtor should know their market like the back of hand and over the years I realised that Jack of All Trades and Master of None was so true.Hence the laser focus on the community where I live and do 90% of my business.So, with no shame today, for the first time ever in my life, I gloat over the fact that I am really good at what I do !
On the same note, I am also super excited about the fact that the market is heating up. In the last few days, activity is up tremendously and buyers are out in full swing. Some may say it is seasonal acitivity, I say that buyers are realising we either in the bottm or very close to it.San Ramon, as of today, has 356 active homes; 149 are pending;165 homes have sold since Dec 1, 2008.In Windemere, there are 53 resale homes in the market; 43 pending;39 homes sold since Dec 1st, 2008.
Clear indications of a stable market.I can tell you for a fact that there are multiple offers going on right now and I am seeing a slight drag upwards.What the means for sellers is that if you are willing to acknowledge the advice of your Realtor and price your home aggressively, it will fetch multiple offers. For a buyer it means, time has flown by for you to make ridiculous offers( to test the market) and get serious. There is a point to which you can bargain and after that you either take it or move on.And those who keep waiting for the market to go down further, scroll up and look at the statistics that I have just posted- I guarantee you, you will miss the opportunity.
So cheers to my great day today and hopefully I will keep up my presence on AR !
Search Windemere Homes for Sale
Contact me
Over the last 2 weeks or so, Windemere is seeing some slowdown in inventory and there is an increase in sales activity. New home sales have seen a reversal of circumstances with existing home sale prices coming down lower than they were 4 months ago.
Current Windemere activity is indicating that short sales are the name of the game. There are only 16 resale homes that are not short or REO's; 15 brand new construction are listed for sale; 3 active REO's; and 18 Short sales ! In the pending market, 19 short sales are currently pending; 10 regular resales; 6 pending REO's; and 5 brand new homes are pending.
Market snapshot of Pendings in Windemere
| Status | LP | DOMLS | Address | Comments |
| PEND | $935,000.00 | 103 | 5831 Kyler Lane | Brand New Home |
| PEND | $950,000.00 | 123 | 615 Kyler Court | Brand New Home |
| PEND | $1,079,990.00 | 14 | 7087 Emerson Lane | Brand New Home |
| PEND | $1,099,900.00 | 2 | 7038 Emerson Lane | Brand New Home |
| PEND | $1,099,990.00 | 30 | 7071 Emerson Lane | Brand New Home |
| PEND | $585,000.00 | 17 | 2120 N DONOVAN WAY | Regular sale |
| PEND | $624,900.00 | 98 | 6876 ABERDALE CIRCLE | Regular sale |
| PEND | $699,000.00 | 43 | 3538 ALDWYCH WAY | Regular sale |
| PEND | $699,500.00 | 3 | 2367 BAKER WAY | Regular sale |
| PEND | $719,000.00 | 16 | 1733 BLAKESLEY DR | Regular sale |
| PEND | $793,000.00 | 29 | 520 QUIMBY CT | Regular sale |
| PEND | $799,000.00 | 8 | 2872 VERNON WAY | Regular sale |
| PEND | $849,000.00 | 38 | 848 BANDOL WAY | Regular sale |
| PSB | $639,950.00 | 6 | 6865 Aberdale Circle | Regular sale |
| PSB | $779,000.00 | 74 | 1436 ALLANMERE DR | Regular sale |
| PEND | $394,900.00 | 45 | 715 Joree Lane | REO |
| PEND | $479,900.00 | 4 | 2548 ROCKHAMPTON RD | REO |
| PEND | $589,000.00 | 93 | 2141 N DONOVAN WAY | REO |
| PEND | $600,000.00 | 28 | 2239 S DONOVAN WAY | REO |
| PEND | $664,900.00 | 4 | 709 CLIFTON CT | REO |
| PEND | $689,000.00 | 15 | 553 MONTROSE CT | REO |
| PEND | $495,000.00 | 99 | 911 Joree Lane | Short sale |
| PEND | $700,000.00 | 49 | 1562 Banbury Drive | Short sale |
| PEND | $820,000.00 | 77 | 2012 Mornington Lane | Short sale |
| PEND | $849,000.00 | 8 | 849 PIPERS BROOK CT | Short sale |
| PEND | $899,000.00 | 77 | 3068 HASTINGS WAY | Short sale |
| PSLA | $479,000.00 | 3 | 312 JOREE LN | Short sale |
| PSLA | $479,000.00 | 27 | 2628 ASHWELL LN | Short sale |
| PSLA | $648,000.00 | 57 | 2515 MCLAREN LN | Short sale |
| PSLA | $699,000.00 | 19 | 800 MORNINGTON CT | Short sale |
| PSLA | $749,000.00 | 4 | 2838 VERNON WAY | Short sale |
| PSLA | $749,000.00 | 239 | 817 Mornington Court | Short sale |
| PSLA | $750,000.00 | 2 | 3915 VERITAS WAY | Short sale |
| PSLA | $759,000.00 | 26 | 1468 Allanmere Drive | Short sale |
| PSLA | $769,000.00 | 25 | 3009 Silva Wy | Short sale |
| PSLA | $799,000.00 | 210 | 638 KARINA CT | Short sale |
| PSLA | $850,000.00 | 1 | 2320 KEATS LN | Short sale |
| PSLA | $877,000.00 | 8 | 2500 CRANEFORD WAY | Short sale |
| PSLA | $885,000.00 | 26 | 1249 ANDREAS WAY | Short sale |
| PSLA | $950,000.00 | 469 | 2672 WATERVALE WAY | Short sale |
| Status | LP | DOMLS | Address | Comments |
| ACTV | $729,900.00 | 34 | 1257 Halifax Way | Brand New Home |
| NEW | $747,900.00 | 4 | 3088 Paddington Way | Brand New Home |
| NEW | $777,900.00 | 4 | 3080 Paddington Way | Brand New Home |
| ACTV | $789,900.00 | 34 | 1251 Halifax Way | Brand New Home |
| NEW | $793,900.00 | 4 | 3096 Paddington Way | Brand New Home |
| ACTV | $816,250.00 | 10 | 712 Derry Ct. | Brand New Home |
| ACTV | $833,950.00 | 10 | 713 Derry Court | Brand New Home |
| ACTV | $921,650.00 | 9 | 6183 Kearny Way | Brand New Home |
| ACTV | $930,450.00 | 9 | 7801 Kennard Lane | Brand New Home |
| ACTV | $935,000.00 | 70 | 501 Wells Ct. | Brand New Home |
| ACTV | $1,013,700.00 | 9 | 7812 Kennard Lane | Brand New Home |
| ACTV | $1,024,100.00 | 10 | 7807 Kennard Lane | Brand New Home |
| NEW | $1,039,000.00 | 4 | 2608 PAIGE WAY | Brand New Home |
| NEW | $1,050,000.00 | 3 | 7070 Emerson Lane | Brand New Home |
| ACTV | $1,070,900.00 | 33 | 7056 Emerson Lane | Brand New Home |
| PCH | $419,000.00 | 82 | 315 Joree | Regular sale |
| ACTV | $475,000.00 | 58 | 2149 Watermill Road | Regular sale |
| ACTV | $599,000.00 | 33 | 6338 BYRON LN | Regular sale |
| ACTV | $714,900.00 | 16 | 1772 BLAKESLEY DR | Regular sale |
| PCH | $748,000.00 | 89 | 1343 KELLYBROOK WAY | Regular sale |
| ACTV | $759,900.00 | 19 | 3731 VINDARA LN | Regular sale |
| ACTV | $799,950.00 | 326 | 2330 Jasper Hill Drive | Regular sale |
| ACTV | $859,000.00 | 166 | 2358 BAKER WAY | Regular sale |
| ACTV | $869,000.00 | 26 | 601 Dromana Ct | Regular sale |
| ACTV | $939,688.00 | 458 | 2380 BAKER WAY | Regular sale |
| ACTV | $964,900.00 | 28 | 238 PAIGE CT | Regular sale |
| ACTV | $998,000.00 | 40 | 2326 Keats Ln | Regular sale |
| ACTV | $999,000.00 | 56 | 2680 Paige Way | Regular sale |
| ACTV | $999,500.00 | 33 | 109 DURLINGTON CT | Regular sale |
| ACTV | $1,150,000.00 | 46 | 342 STANFORTH CT | Regular sale |
| ACTV | $549,900.00 | 207 | 181 LANDSDOWNE LOOP | Relo sale |
| ACTV | $485,000.00 | 215 | 2500 Rockhampton Road | REO |
| NEW | $504,900.00 | 3 | 6328 BYRON LN | REO |
| ACTV | $907,900.00 | 33 | 5226 PEMBROKE WAY | REO |
| ACTV | $479,000.00 | 40 | 1311 Nancy Lane | Short sale |
| ACTV | $549,000.00 | 88 | 6198 YARDLEY LN | Short sale |
| ACTV | $714,000.00 | 7 | 1792 BLAKESLEY DR | Short sale |
| ACTV | $749,000.00 | 33 | 508 Andreas Court | Short sale |
| ACTV | $759,999.00 | 96 | 1112 Bellingham Square | Short sale |
| ACTV | $770,000.00 | 70 | 1619 ANGSLEY LN | Short sale |
| ACTV | $799,000.00 | 175 | 3351 MIDDLEBROOKE WAY | Short sale |
| ACTV | $800,000.00 | 9 | 305 LANGTON CT | Short sale |
| ACTV | $850,000.00 | 30 | 7251 Balmoral Way | Short sale |
| ACTV | $852,000.00 | 201 | 600 Dromana ct | Short sale |
| ACTV | $871,000.00 | 88 | 3095 HASTINGS WAY | Short sale |
| ACTV | $875,000.00 | 19 | 3658 STONEHENGE WAY | Short sale |
| ACTV | $875,000.00 | 273 | 2592 TAMWORTH LN | Short sale |
| ACTV | $879,000.00 | 45 | 3059 HASTINGS WAY | Short sale |
| ACTV | $879,000.00 | 44 | 2580 TAMWORTH LN | Short sale |
| ACTV | $950,000.00 | 15 | 876 BANDOL WAY | Short sale |
| PCH | $974,900.00 | 119 | 506 CASELLA CT | Short sale |
| ACTV | $1,049,999.00 | 13 | 151 AVALON CT | Short sale |
For people looking to buy newer homes in Gale Ranch or Windemere, it is important to get an analysis between the two communities and then base your decision on your housing needs or price range.The latest statistics from January 2009 upto today show the following information( as gathered from the Multiple Listing Service and does not include New Home Sales)
Gale Ranch:
Active listings- 19; 1 townhouse and 18 detached homes.
Price range from $514,999.00 to $1,450,000.00
Square footage ranging from 1488 to 3850 sq ft
11 homes are 3 bedrooms/2.5 baths( except for one home which has 4 bathrooms)
5 homes have 4 bedrooms/3 to 4 bathrooms
3 homes have 5 bedrooms/3-4 bathrooms
1 home has 6 bedrooms/4.5 bathrooms
Average List Price in Gale Ranch is $ 828,530 with an Average sq ft cost of $307 based on an Average home being 2700 sqt ft
Average HOA on townhouses and detached homes is $1400/ year
Annual taxes( based on 1.25% and based on average sale price) is $10,356
Pending listings- 10; 1 townhouse and 9 detached homes. Pending price ranges are between $ 510,000 to $ $1,100,000
Sold Listings- 6; 1 townhouse and 5 detached homes. Sold prices ranging between $550,000 to $870,000
Windemere:
Active Listings- 46; 1 Condo, 7 townhouses and 38 detached homes
Price Range from $429,000.00 to $1,195,900.00
Square Footage ranging from 1211 to 4645 sq ft
1 condo is 2 bedroom/2 baths
5 homes with 3 bedrooms/2-3 bathrooms
20 homes with 4 bedrooms/ 2.5 to 4 bathrooms
16 homes with 5 bedrooms/3.5 to 4 bathrooms
4 homes with 6 bedrooms/4.5 to 5 bathrooms
Average List Price in Windemere is $ 882,584.00 with an Average $266 per sq ft based on average of 3320 sq ft home.
Average HOA only in condos and townhouses is $2200/year. No HOA on detached homes
Annual Taxes( based on 1.7% and based on average sale price) is $15,000
Pending listings- 39; 4 townhouses, 1 condo and 35 detached homes. Pending price ranges between $394,900.00 to $1,099,900.00
Sold Listings- 6; 1 townhouse and 5 detached homes. Sold price ranges between $575,000.00 to $800,000.00
More market analysis are available at the Market Reports Center on my website.
Just done watching the President's address in Arizona about the Housing plan. 275 Billion dollars in funds will be available very quickly, possibly in the next 2 weeks. Homeowners will be able to refinance their homes into lower interest rates that will make the mortgage payments down to 31% of their income.
I must say, I am a bit disappointed. There should have been provisions for principle home owners to be able to write off some of the current values of their homes.I know some will slam me on this, knowing that this is a huge cost to tax payers( me being one of them) but if we are going to bail out every possible industry, then there should have been something for people who continue to make payments on their homes, despite the fact that they are under water on the value of their homes.
Dishonesty has once again gotten away with its warped ways and it would have been nice to see the government ask for more from the banks who have been bailed out. My question is that the program seems vague in the sense that lenders who have received or need TARP money, will work with borrowers to refinance their homes into lower interest rates.What is these darned banks decide to do something else?? Why is it being left in the hands of irresponsible banks to make the decision that which homeowner bought outside their means?? Come on, give me a break !! It should be made mandatory for all banks to assist all their borrowers, whether in trouble or not, to modify their loans.
Stemming foreclosures- I don't think this program will achieve it. People who simply cannot afford to keep their homes due to:
Loss of huge amounts on the values of their homes.
Loss of jobs and income
How will reduced interest rates help those who have lost income and cannot keep up with the payments? Predatory lending practises that led to the neg am loans with home owners now facing a higher loan amount- is the housing bill addressing this issue? They should have stipulated in this restructuring to write down the accrued interest to bring the loan amount to the original amount borrowed and reduce the interest rate to make it more affordable to keep these people in their homes !
If people cannot make grocery bills are they going to be able to pay refinance costs?? Are the banks going to forego that cost or is the government going to bear the cost? I am a homeowner who wanted more help from the government.The banks are being offered help on a silver platter using our money, but the government could not use our taxpayer money to help us ease our pain?? I just do not get it.Is responsibilty being punished once again?
 |
|
|
Certified Pre Foreclosure Specialist, ePRO
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
