Elaine King's Real Estate Blog

Spring has arrived in Summerset with trees & plants in full bloom. Residents are out walking, and working in their yards.  My neighbor’s work constantly in their gorgeous Burr Knott Way yard, with an added whimsical display of plastic eggs in their flower beds to celebrate the season! 

Currently in Summerset, there are 26 homes for sale; sizes from 984-2857 square feet, with prices ranging from $204-$599K.  The best value per square foot is a SHORT SALE located on Bacchini Lane, priced at $165 per square foot.  This home has huge ceilings, wood floors, and no rear neighbors.  It needs serious cosmetic work inside/outside, but still a great deal!  Most homes in Summerset are gently used, but most buyers will want to update with granite countertops or stainless appliances that were not so important when these homes were built 7+ years ago.  To view all current Summerset homes for sale click here!  (Link is only good for 30 days)

Not quite sure you are ready to live in a retirement community?  You may want to rent first and test the waters.  See if you like living in a golf course community?  Find out for yourself how friendly the residents of Summerset can be, and participate in all Summerset events.  Check out the great golf course location on Katy Drive.  Click here for rentals; link good for 30 days!

Summerset is located in Brentwood and made up of 4 communities: Summerset 1, Summerset II (The Palms), Summerset III (Vista), and Summerset IV (The Orchards).  Each community has its own home owner’s association (HOA), recreation center, pool/hot tub, work out area, and activity director.  Once you are a resident of Summerset, you will receive a monthly activity calendar, and can attend activities at any of the four Summerset locations.

I love living in Summerset!  For more information, give me a call.

Bay Area East County homes are selling at 1999 pricing, and many investors are coming to Antioch, Brentwood and Oakley for a “deal” on a home.   I just completed an analysis of homes selling below $175,000 in Antioch, Brentwood and Oakley, and most homes are selling 10% above or 10% below list price.  

From Dec 2009 until today, in the below $175,000 category, 138 detached homes have sold in Antioch, Brentwood and Oakley.  The average list price was $146,712 and the average selling price was $148,173. That is 101% of selling price!  What a deal – you can buy a 3 bedroom, 2 bath home for $148,000!  This is a great deal,but not the thousands off list price that some are seeking!  The average days-on-market was 27 days!

 The 3 BEST DEAL homes (homes that sold for 40%, 52% and 79% of list price), all sold between Thanksgiving and Christmas and were on market an average of 30 days.  Two were ALL CASH deals and one was a conventional loan.  The BEST DEAL home was listed at $429,000 ($262 sq foot) and sold for $170,000 ($104 sq foot).  This home would have moved quicker if it was priced at at $130 sq foot range of the neighborhood.

The 3 WORST DEALS (homes that sold for 134%, 135% and 150% of list price) were on the market an average of 16 days.  Two were conventional and one was all cash.   The WORST DEAL that sold for 150% of list price was listed for $54,900, and sold for $82,100.  This home needed a roof, cabinets, flooring and some TLC.  The purchaser paid 150% of list and still bought a home for $54/ sq foot.  WOW – not a worst deal at all!!!!    Here are more statistics: 

• # Homes Sold from 12/09 – 3/25/10   138
• # Homes Sold ABOVE list price                 38
• # Homes Sold AT list price                          19
• # Homes Sold BELOW list price                 81
• Average Price                                      $146,712
• Highest % below list price                  40%
• Highest % above list price                  150%
• Average Cost per square foot           $108
• Average Days on Market                    27

This is a GREAT time to buy a home, but know there are many buyers searching for a home in the East County.  Buyers are competing against investors, all cash buyers and first time buyers. FHA deals are not impossible, but not the first offer that is accepted by the seller.  Priority is CASH, Conventional, and then FHA.  If you choose to purchase FHA, be prepared to pay closing costs.  Needing closing costs, lessens your chances of a purchase to near ZERO!

You have to be patient and need to move quickly.  For more information, please give me a call at 925-852-1659 or email me at elaine@elainekingsellshomes.com

This topic is not pleasant, so I will make this short.  Get a colonoscopy!  As a colon cancer survivor, I know its value.  Colon cancer caught early has a very high survival rate. 

If you have colon cancer in your family, get a base-line test done by age 40.  If no family history, than get one by age 50. Per Sutter Delta Medical Center, “only half of Americans that should be screened are getting screened, and if the other half were screened, the colorectal cancer deaths would be reduced by 25,000 a year!” 

No excuses – JUST DO IT!  If not for you, then for your family!

I love Starbucks!  My geography for a local city is based on Starbuck locations.  Since our office is virtual, my clients ask me what Starbucks do you want to meet at?  (Nice, huh?)  So, if you like Starbucks as much as I do, visit a Starbucks on Tueday, 3/23 before 10:30 AM and receive a FREE Pastry with this coupon. 

I hope this makes it a great day for you!  ENJOY!

This blog is a summary of  upcoming weekend events in Brentwood….

For your IRIS lovers, the Brentwood Iris Garden (195 Payne Ave) is opening this weekend (3/20) to showcase the early blooming dwarf iris.  Brentwood Gardens grow irises, day lilies, and chrysanthemums.  The tall bearded-iris should be growing around 3/27.  Keep your calendars open for the weekend Iris festival on 4/17 and 4/18.  

Remember, while enjoying the flowers of Brentwood, allow time to enjoy the wineries (Hannah Nicole, Tamayo, and Bloomfield) and McCauley Olive Groves for some olive oil tastings. 

Speaking of wine, the CO.Co. Wounty Wine Company is having a Wine & Chocolate Fundraiser for the Leukemia & Lymphoma Society on Sunday, 3/21.  The cost is $30 to benefit a worthy cause and sample wines & chocolates!  YUM!

Summerset 4, at the Orchard View Lodge is hosting  a Spring Boutique to benefit Garin Elementary School’s Library.  The event is Saturday, March 20th.  There will be 25 Bay Area Vendors  displaying  their wares.  For more information on Summerset, Brentwood’s original Active Adult Community, please email me.

On Saturday, March 20th, at Liberty High School; there will be a Diabetes fundraiser from 9AM – 5PM.  The money raised from the event will go toward education at schools on how to deal with emergency diabetic situations and promotion of a healthy lifestyle.  Come and support a worthy cause.

For you local historic fans, the East County Historical Society holds its annual Opening Day Celebration on Saturday, March 27th at Byron Hot Springs.  Be there from 11AM-4PM for a classic car show, to view John Marsh paintings and family enertainment. The Museum is open every Saturday and the third Sunday of the month from April thru October.

Speaking of John Marsh,  the only remaining relic of this cattle baron & pioneer is his home.  This week, the first phase of stabilization of the house  will take place thanks to a recent grant. The home, located on Marsh Creek Road, the home is fenced and needs serious renovation.   The $800,000 grant will be used to install temporary steel supports, tracing the outside walls and strengthening the roof and floor joists.  

Before the heat is upon us, come and explore Brentwood’s gardens, wineries, olive oil plants, vendors and shops.  If you have any Brentwood real estate questions, please call me.  Enjoy the weekend!

Since it has been 3 years since the housing crash and home foreclosure numbers are falling, Fox Business News did an interview on March 12th to see if the market is turning around. I personally consider much of the news today as talking heads; however, the person they interviewed I know personally and is honest and very ethical.   Bruce Norris is president of The Norris Group, a Riverside CA investment resource.

Please take 8 minutes and listen to this interview as Bruce mentions the problem of negative equity that cannot be solved by jobs, lenders taking back properties that sell for less than the neighbor owes on his house and strategic defaults.   It will give you something to think about and make you realize that this market will be around for awhile.