John Fischer's Real Estate Views

John Fischer

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Volume 1 | Issue 3 | Mar 2011

In This Issue:

A Note From John:
This Month's Note from John:
Home Prices Still Declining

Featured Article:
Home Inspections for Homeowners

Mixed Bag
A Monthly Offering on a Variety of Current Topics
 

MARKET MATTERS*


February 2011**

  Active

Pending

Sold

Lafayette

57

22

9

Moraga

23

17

12

Orinda

51

26

6

Pleasanton

119

120

39

Dublin

108

164

36

Alamo

72

22

1

Blackhawk

35

10

8

Danville

140

96

38

Diablo

5

3

1

San Ramon

157

185

44

*I have much more data at my fingertips than can go in the newsletter. If you would like more specific information about a particular area or neighborhood, even if it is what the neighbor's house really sold for, just call or email me and I will be happy to provide the information for you.

** These statistics reflect active, pending and sold single family homes for the month ending February 28th, 2011.

MORTGAGE MINDER


WEEK OF March 7th

Loan (National Average)
15 Yr Fixed Conforming
30 Yr Fixed Conforming
30 Yr Fixed Jumbo
5/1 ARM Conforming

Rate
4.23%
5.04%
5.46%
3.46%

Interest rates per MonitorBankRates

MEANINGFUL LINKS
John Fischer Real Estate

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If you have a family member, friend or co-worker who is thinking about buying or selling their home, please forward this email to them or have them contact me at:

[email protected]

Your referrals are truly appreciated!

Recent Testimonial from a Satisfied Client:

"John, thank you again for helping my parents with the Blackhawk purchase. You did an excellent job with all of us, and we appreciate your work. I especially am thankful in how you put my parents at ease, and the trust that you quickly gained with them. I am so personally grateful that my parents really like you and feel that you did a good job for them, and they have thanked us many times for that. I am glad to have been in a position to help you get some new business, and I hope to be able to do so in the future. Let's keep in touch, and keep sending out those emails. They work!"

A Note From John

Home Prices Still Declining


Thank you for reading my newsletter.  I'm trying to make it short, easy to read and informative.  Fortunately, this industry of real estate allows me to write about many things - Historical perspectives, various statistics, decorating ideas, service providers and countless other topics.  So far, it's been enjoyable.

How far have prices come down in the Bay Area?

I've been telling people that prices have come down from the highs of '05 and '06 between 20-30% in the San Ramon Valley/Lamorinda areas.  Of course, it depends on actual timing, location and the pricing level of the house. Two examples: I sold a house in Danville in June, 2006 for $1,584,000 and it sold again this February, 2011 for $1,210,000. Down 24%.

I represented buyers last month for a foreclosure in Blackhawk. It sold for $1,150,000 in December, 2004 and was purchased for $783,000 in February, 2011. Down 32%. This is not a true science, but it is an indication of what's going on.

What Do Buyers Want?  

Most buyers want to buy a home that has no deferred maintenance, newer appliances, updated plumbing, electrical, heating, A/C, modern conveniences and is ready to occupy.

 Important Fixes:  First impressions are extremely important. Check the front door and porch for a good looking door knob and fresh paint.  How does the roof look?  Plant flowers and make everything look fresh and trimmed.  Paint the inside of the house and clean the carpets.  Fix all faucets and make sure the sinks sparkle.  How will the buyer see your appliances and cabinets?  Are they old and beaten up?  If you want to sell, you must look at your house as the Buyer would.

- John Fischer

Featured Article

Home Inspections For Homeowners

Most people only think of getting a home inspection when they are buying their home, but have you considered getting one before you even consider selling?

If you've been in your house for more than 5 years, you might think about having your home inspected, for a number of reasons.

  1. To identify any new or neglected maintenance items: as mentioned above, buyers want homes that have no deferred maintenance. Even if you have no plans to sell in the near future, discovering problems today can nip potentially expensive problems in the bud.

  2. To keep your home in tip top condition: often homeowners put off maintenance and upgrades until they sell the home. It makes sense to enjoy the benefits of a well kempt and updated home today, rather that simply passing those improvements on the the buyer.

  3. To enjoy pride of ownership and peace of mind: knowing that your home is in good functional condition as well as esthetically pleasing can make living in your home much more enjoyable. Whether you decide to upgrade to a bigger home, downgrade to a smaller home or stay put, you will always know you are ready for anything.

Besides having a standard home inspection, you might want to have a termite inspection, roof inspection or other specialty inspection for a pool, spa or out building.

Mixed Bag

High End Bay Area Homes

I thought you might be interested in seeing what buyers are paying for some of the higher end homes on the San Francisco Peninsula. Woodside tops the list at just under $30 million.

 
Address City Sq. Ft. Lot Size Year List Price
60 Parkwood Dr. Atherton 17,000 2.3 1908 $16,800,000
401 Selby Ln. Atherton 14,700 1.5 2006 $16,600,600
76 Almendral Ave. Atherton 11,284 1 2009 $14,200,000
351 Stockbridge Atherton 14,394 1.6 1990 $13,950,000
49 Fairview Ave. Atherton 14,269 1 2009 $11,995,000
150 Almendral Ave. Atherton

land only

2.4   $10,500,000
150 New Place Rd. Hillsborough   6,350 2.8 1974 $18,000,000
1 Homs Ct. Hillsborough 9,480 1.4 1904 $12,999,000
1225 Raymundo Rd. Hillsborough 11,850 3.1 1931 $12,500,000
435 Pullman Rd. Hillsborough 11,000 2 2000 $11,495,000
1781 Arastradero Palo Alto 12,000 13 2001 $23,950,000
22030 Mount Eden Saratoga 13,459 14 2008 $19,500,000
750 Mountain Home Woodside 9,040 3 2006 $29,500,000
3610 Woodside Rd. Woodside 16,000 5 1987 $11,900,000

In comparison, there have been only 17 homes sold (amongst the cities listed in the "Market Matters" section above) for over $1 million this year with the highest priced home at just under $2 million in Danville. The details are below.

11 Macomber Rd. Danville 5,830 1.6 1956 $1,995,000
 
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About John Fischer
I've been selling residential real estate for the past six years here in the Diablo Valley. After graduating from UCLA and then getting my MBA, I spent most of my career in corporate sales starting with Xerox in the 1970's.

Following that, I proceeded into IBM computer sales and leasing. My wife, Janeen, and I have lived in the same house in Alamo since 1983 and have raised three children. They all graduated from Monte Vista High School and have gone to UCLA, UC Davis and University of Washington. Our youngest, Kelsey, is now attending UC Hastings School of Law.

John Fischer
President's Club '08, '09 '10
CA DRE #00695958
925-980-4816
[email protected]
http://www.johnfischerrealestate.com

J. Rockcliff REALTORS
15 Railroad Ave., Danville, CA 94526

"Serving the East Bay communities of Diablo Valley (Alamo, Blackhawk, Danville, Diablo, San Ramon), Lamorinda (Lafayette, Moraga, Orinda), Walnut Creek and Tri-Valley (Pleasanton, Dublin)."

Copyright © 2011 John Fischer

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