Let me just say it in one simple word" CRAZY"

For the last 2 weeks I have been putting offers in Windemere, scouring the MLS a hundred times a day to find new homes but to no avail. Buyers are getting frustrated because since the month of April, the market has taken a 360 degree turn. Inventory is at its lowest and demand is high, especially in the price range of 500K to under 900K. New homes communities are getting are closing out and people are making a mad dash for them.

In the resale market in Windemere, a lot of short sales and distressed properties that have pending for months, are now closing.Current inventory is getting offers over asking price.Just in the month of June, the properties closing are at an average of 99% of list price.The Bank owned homes are going into contract for over asking price.

Builders are holding very tight on prices and I can already see prices creeping up.There have been camp outs of people waiting for days outside sales offices, ready to grab the houses that are released ! If you are a seller and have been thinking of selling your home, NOW is the time. There is a heavy demand and very low inventory in the market. Please email Rama for a private consultation.

Sold Price Analysis            
Class ... Type ... Area MLS # Address Original Price Sold Price Original Price % DOM
RESIDENTIAL-Jan 09            
        Detached            
                          San Ramon            
  40363719 2732  MOET LN $599,900 $600,000 100% 10
  40379461 3526  Sandalford Way $852,500 $800,000 94% 57
  40380702 2317  Baker Way $699,000 $730,000 104% 42
  Totals   $2,151,400 $2,130,000 99% 36
RESIDENTIAL-Feb 09 40367372 3552  SANDALFORD WAY $844,900 $745,000 88% 96
  40368749 569  Byer Ct. $848,900 $757,627 89% 117
  40377139 3751  VINDARA LN $715,000 $721,000 101% 77
  40382426 500  ANDREAS CT $854,900 $808,900 95% 44
  40385294 3960  KNIGHTSBRIDGE WAY $855,000 $882,500 103% 27
  40385883 3538  ALDWYCH WAY $729,000 $699,000 96% 43
  40386634 3291  GLENCOE CIR $857,500 $830,000 97% 31
  40389774 2318  Millenium Ln $599,950 $610,000 102% 8
  Totals   $6,305,150 $6,054,027 96% 55
RESIDENTIAL-March 09 40371959 2515  MCLAREN LN $648,000 $684,434 106% 62
  40378115 3068  HASTINGS WAY $899,000 $880,000 98% 79
  40386899 520  QUIMBY CT $793,000 $750,000 95% 29
  40389768 2141  N DONOVAN WAY $589,000 $575,000 98% 17
  40392055 2120  N DONOVAN WAY $609,000 $587,000 96% 20
  40392160 7056  Emerson Lane $1,195,900 $1,070,000 89% 32
  40392187 2872  VERNON WAY $799,000 $773,000 97% 23
  40393542 1436  ALLANMERE DR $779,000 $760,000 98% 5
  40397135 2367  BAKER WAY $699,500 $711,116 102% 3
  Totals   $7,011,400 $6,790,550 98% 30
RESIDENTIAL- April 09 40377057 615  Kyler Court $980,000 $930,000 95% 123
  40379477 6876  ABERDALE CIRCLE $687,500 $632,000 92% 98
  40389039 709  CLIFTON CT $664,900 $722,000 109% 6
  40389704 848  BANDOL WAY $929,000 $825,000 89% 58
  40390821 2239  S DONOVAN WAY $600,000 $585,000 98% 37
  40391152 2358  BAKER WAY $859,000 $797,000 93% 50
  40392139 5226  PEMBROKE WAY $921,900 $855,000 93% 43
  40393000 238  PAIGE CT $989,000 $950,000 96% 28
  40396482 7812  Kennard Lane $1,013,700 $925,000 91% 46
  40396485 6183  Kearny Way $921,650 $858,650 93% 46
  40396628 6865  Aberdale Circle $639,950 $620,000 97% 9
  40397482 7070  Emerson Lane $1,050,000 $1,023,000 97% 12
  40398297 2330  JASPER HILL DR $715,000 $718,000 100% 7
  40399453 5052  HOLBORN WAY $949,000 $949,000 100% 3
  40401370 5508  LONDON WAY $889,000 $880,000 99% 5
  40401868 501  Wells Ct. $935,000 $925,500 99% 4
  Totals   $13,744,600 $13,195,150 96% 36
RESIDENTIAL- May 09 40377042 5831  Kyler Lane $960,000 $925,000 96% 103
  40378753 7038  Emerson Lane $1,099,900 $1,050,000 95% 2
  40380880 600  Dromana ct $898,000 $750,000 84% 162
  40383667 1343  KELLYBROOK WAY $799,000 $720,000 90% 136
  40383790 3095  HASTINGS WAY $960,000 $820,000 85% 63
  40390462 2580  TAMWORTH LN $879,000 $830,000 94% 16
  40391904 1251  Halifax Way $789,900 $670,000 85% 50
  40391912 1257  Halifax Way $729,900 $580,000 79% 48
  40394968 553  MONTROSE CT $689,000 $680,000 99% 15
  40399433 1525  CRAIGLEE WAY $669,000 $625,000 93% 37
  40399475 3590  YORK LN $949,900 $850,000 89% 45
  40401117 733  BOWEN CT $843,900 $801,705 95% 6
  40402086 2500  MCLAREN LN $639,900 $633,500 99% 10
  40405068 1740  BLAKESLEY DR $695,000 $690,000 99% 15
  Totals   $11,602,400 $10,625,205 92% 50
RESIDENTIAL- June 09 40344386 1249  ANDREAS WAY $885,000 $743,000 84% 335
  40390733 7087  Emerson Lane $1,079,990 $1,059,000 98% 63
  40390963 7071  Emerson Lane $1,099,990 $1,094,395 99% 30
  40395423 1772  BLAKESLEY DR $714,900 $686,000 96% 66
  40398514 3706  Stonehenge Way $949,000 $1,050,000 111% 47
  40401875 5600  Wells Lane $975,400 $975,400 100% 7
  40408985 2378  KEATS LN $874,900 $880,000 101% 4
  40409736 2177  N DONOVAN WAY $629,000 $635,000 101% 3
  40412920 2420  MILFORD DR $2,600 $2,600 100% 1
  Totals   $7,210,780 $7,125,395 99% 62

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4 Comments on What is happening in Windemere?

JUN
24
2 Featured Posts

A rhetorical question, perhaps?

Have you drilled down to the answer, yet?  What's changed?  Financing? Availability of credit? Employment? Population growth?

 
4:31pm • #1
Outside Blog

I have not drilled down to an answer yet but I have noticed these factors:

1. Herd mentality- one moves from the group and all move in the same direction
2.Excellent Schools
3. Brand new houses are attractive to these buyers
4.Windemere is still much cheaper than Gale Ranch when you compare the two brand new communities
5:32pm • #2
JUN
27

Being a Windemere expert your analysis should be based on facts not herd mentality . If this seasonal or sustainable one will know come september.
5:30pm • #3
JUN
28
Outside Blog

I have presented the facts with hard numbers above.No one knows if this is sustainable and being an expert myself, even I cannot tell. ONly time will tell and in case you missed, I said I have noticed these"factors"
12:08am • #4

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Rama Mehra Certified Pre Foreclosure Specialist

San Ramon, CA

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Keller Williams Realty

Address: 760 Camino Ramon, Ste 200, Danville, CA, 94525

Office Phone: (925) 855-8333

Cell Phone: (925) 698-1815

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