Elaine King's Real Estate Blog

Happy Super Bowl weekend!  A great time to get together with friends, even if football in not your sport.  This year, there will be 2 Super Bowl parties at Summerset!  So, if you want your own house party; without the mess, you can share the fun with others at the clubhouse! 

Summerset is an “over 55” active adult community (50 miles east of San Francisco).  We are a community of 2,000 gently-used homes that were built from 1994-2004.  Resale homes currently run from $180K to $545K.  Here is a link to these homes.

 In addition, a resale at Trilogy Vineyards is on this list at $629K. Trilogy (Shea’s active lifestyle community) is a new destination to live for those wanting a resort location.  Trilogy has fabulous NEW home designs from 1465 to over 2800 square feet, and prices starting just under $400K. 

 Do you want to hear a great real estate statistic? Currently, there are 25 ACTIVE homes on the MLS in both Summerset & Trilogy.  This is only 1% of all homes in all the communities!   

Enjoy your weekend, the game, and those fun Super Bowl commercials.  If you want more information on Brentwood’s “over 55” communities, let me know.

Happy Belated New Year!  I hope you had a wonderful holiday and may you have a healthy 2012!  After an enjoyable Christmas, I caught a bionic cold, and it is great to be back at the computer and seeing the sunshine. 

There were 69 homes SOLD in Summerset in 2011 and homes SOLD for 97% of List Price! The highest sale was $500K (list price of $536K) and the lowest price sale was $180K (list price of $179,900).  The average days on market (DOM) was 61 days and the average sales price in Summerset was $291,900! 

Comparing 2011 to 2010 Sales, the DOM went up 16 days, from 43 days in 2010.  The average sales price for 2011 went down $15,000! ($306K average of 2010)  This is only -5% vs. YAG!  The number of homes SOLD in Summerset for 2011 went down to 69 homes, vs. the 74 homes that sold in 2011.  This shows a market that is still desirable for those over 55, wanting to live near a large city and have medical facilities less than 10 minutes away!  The average price per square foot cost went down -6%.

Here is a link to homes SOLD in Summerset in 2011…..

Summerset (an over 55 community) is located in Brentwood (50 miles east of San Francisco) and made up of 4 communities and just over 2,000 homes that were built from 1994-2003.  Each community has its own recreation center, pool/hot tub, and work out area.  The Brentwood golf course runs throughout all four communities; it is a public course and no fees are paid by Summerset residents for its upkeep.  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.

If you would like more information, please give me a call.  I live in Summerset!

November is here and the leaves are just starting to fall in Summerset, an over 55 “active adult” community located in Brentwood.  This past weekend, was a yearly craft fair benefitting the Summerset 2 Social Club.  Now, plans for food drives, parties and charity donations are on the calendar.  Holiday tours of San Francisco, Santana Row, and the Dickens Christmas Faire are just some of the plans on the upcoming calendar.  One thing for sure, you can definitely fill your calendar when you live here at Summerset!  Each community has its own home owner’s association (HOA), recreation center, pool/hot tub, tennis court, bocce court, workout room, pool table 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.

Currently, the number of homes available in Summerset has been reduced to 26; that is a great statistic, as it represents less than 2% of all homes in the development.  Prices currently range from $250-$550K.  Smaller sized homes move quickly, especially those priced under $250K!  Here is a link to current homes in Summerset!

Homes for rent in Summerset have also been snatched up quickly these past few months.  Renting is a great option if you are not quite sure you are ready to live in a retirement community; while enjoying all the benefits of an owner.  Rents start at $1250 for a duet; however, currently the lowest price rental is going for $1625.

Should you have any questions about Summerset, call me.   I live in and enjoy sharing the opportunity to tell others about Summerset.  Wishing you a Happy Autumn Season!

Yesterday, I attended “The BIG EVENT”, hosted by Contra Costa  at the Lesher Theatre in Walnut Creek.  Two main speakers were there speaking: Robert Kleinhenz PHD, Deputy Chief Economist for Calif. Assoc of Realtors (CAR) and Gov Hutchinson, asst. general counsel & VP of  CAR.  This once-yearly meeting talks trends/forecasts and new laws coming into effect on January 1^st.  The event is open to members of the Contra Costa Assoc. of Realtors. Below are some highlights of the talk:

• Unemployment for California remains around 12%. (10% in Contra Costa.)  The non-farm recession job losses are about 1 million jobs; however, since Jan 2010, 222,400 jobs have been added to the state. 
• The economy is recovering, but moving slow.  GDP for 3^rd quarter 2011 was 2.5% for the same time last year, it was 2.7%. 
• Consumers are not spending, and also DRAINING down their savings.  This will be a slow healing process, as consumer spending is needed to improve the economy.
• Interest rates are historically LOW, and this makes it a great time to buy.
• The California median home price is $287,400, down 8.3%.
• 2012 is predicted to mirror 2011 in the California housing market.  We are close to record affordability.  34% of buyers are first time buyers.
• Tax credits helped sales in 2010; they say this is a transition year and sales have to move forward by themselves.   Equity sales rose in 2011.
• There will continue to be foreclosure thru 2014!
• Current inventory in CA is 5 months; down from 7 months.  Homes over $1 million have a 10 month inventory and those under $300K have a 4.7 month inventory.  Broken down by inventory type, in California there is a 2.6 month inventory for REO’s. A 5.9 month inventory for regular sales and ad 7.9 month inventory for short sales.
• Most buyers shop for 4 months before contacting an agent; 80% of buyers used an agent.
• Financing continues to be a challenge.
• Some new laws going into effect 1/1/12: Landlords can prohibit smoking and it must be written in the lease.  Tenants can display political signs.  HOA transfer CANNOT be more than $250, and HOA MUST discloses if unit cannot be rented out.  If a home is listed for less than the liens, than it MUST be listed as a short sale.
• If a DRE member is on the Top 500 tax delinquent list, they will lose their license. WOW!
• For a link to this speech go to: www.car.org/marketdata and then click the speech section on the left hand side.

Happy Halloween!  Here are some spooky& sweet housing stats….

• 43% of all sales in California are REO’s or Short Sales.  Since these sellers will be credit-challenged, does that mean we lost 43% of these owners to non-ownership? 
• 33% of all loans are in foreclosure; some homeowners have not made a payment in 2 yrs.
• 30% of all mortgages in California are upside down; an additional 5% are very close. 
• Some CA cities have numbers higher (example: Hesperia is 76.9% underwater – WOW) 

How about a sweet-as-candy housing stat?  Real estate is going for half-price or more of 2006 prices and interest rates are 4%  – This is great news, so WHY NOT BUY NOW?

Brentwood Art & Wine Festival was this weekend.  What a fun event.  There were some great  artists at this event; my favorite was Crystallized Concepts of Discovery Bay.  Bonnie created some wonderful earrings and necklaces out of wire.  She is offering studio parties, so check her out.  Alvon Johnon and Friends played for 2 hours on Saturday night, and what a show.   He was the winner of Guitar Player of the year and when you hear him, you will know why.  This event was at the Streets of Brentwood, and was free but your donation for beer/wine beneffited the Cultural Arts of Brentwood

Currently in Brentwood (94513) there are 185 properties for sale, ranging in price from $69,900 for an 863 sq ft tear-down on a 9,000 sq ft lot.  The most expensive is off of Byron Highway.  It has 6800 sq ft and 486,000 sq ft lot.  A pool, fountains, outdoor kitchen with pizza oven, limestone floors and 10 acres of syrah grapes could be yours!   For a link to current Brentwood homes for sale, click here.

Labor Day weekend will be here soon.  Enjoy your 3 days and do something fun.  The Streets of Brentwood is hosting a BLOOD DRIVE next Saturday, Sept 3rd from 11AM-4PM.  To schedule an appointment, click here.

Residents gather at the pools and hot tubs to catch up on events, like people around the coffee pot or water-cooler at work.  Our pools offer a place to gather for water aerobics, a nice lap swim or a place to float on your noodle.  Water aerobics, BBQ’s, luaus, and family swim time are all part of the activities. 

Two weeks ago, The Summerset Singers’ performed a wonderful mix of old and new, fast and slow songs; and the talent of our Summerset Singers is incredible!  If you get an opportunity to come to their next concert, do not miss it!

The bocce, tennis, and golf playing are also favorite Summer activities at Summerset.  Happy hour this month will have a DJ, a Carribbean night, trip to Capitola, and our annual ice cream social will also take place. 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

Summerset, an “over 55 age-restricted” community, is located in Brentwood CA 94513, just 50 miles east of San Francisco.  Now is a great time to take advantage of low prices (some at 2001 pricing) and interest rates below 5%.  Here is a link to current homes FOR SALE in Summerset.

Since it is month end, here is a link to homes that have SOLD in Summerset from April 1^st.  I enjoy living in Summerset, please give me a call for a personal tour and discover Brentwood’s original active-adult community!

Brentwood  CA (94513)  2^nd quarter 2011 sales were down slightly from 2010 at just under 10% (.088%).  The medium price of a house was basically unchanged from YAG 2010 at $308,000.  The days-on-market went up 33% from 27 as an average to 36 days on market.    However, over half of the 271 homes SOLD in under 3weeks, showing that homes that are priced well and move-in ready are still in demand.

Currently, there are 169 homes for sale in Brentwood, with a median days-on-market of 50 and an average-days-on market of 80.  The median sales price is $349,900; over $40K more than the  the median selling price in the 2^nd quarter.  Here is a link to current homes for sale in Brentwood.

A review of 2^nd quarter sales at Summerset (an over 55 community) in Brentwood CA (east Contra Costa County), shows that 12 homes closed.  This number is down 30% vs. YAG 2010.  One home closed in May 2011 and two homes in June 2011, which pushed the final number down.  However, there is a heavy inventory of PENDING sales (foreclosures and short sales), so this could inflate the 3^rd quarter numbers.  Here is a link to 2^nd quarter home sales.

Homes come on the market almost weekly and there is a strong demand for detached homes priced under $300K.  Currently in Summerset, there are 35 homes for sale; sizes from 1252-2857 square feet, with prices ranging from $215-$549K.  A great value just came on the market at 462 Summer Red Way for $159 sq ft.  If you like a corner lot and a golf cart, this home is for you.  As with this home, 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.   CLICK HERE to view all current Summerset listings. (Link good for 30 days)

Summerset is located in Brentwood and made up of 4 communities and approximately 2000 homes.  This time of year residents enjoy picnics, bocce, BBQ’s, tennis, & golf; all part of experiencing Brentwood’s fun active-adult community.  What fun to cool off in the evenings and share talk with your neighbors. Each community has its own 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 this time of year and I love living in Summerset!  For more information, give me a call.

Memorial Day passed with many veteran residents wearing hats to show their service.  Hopefully, with the rains now stopped, bocce can resume, water aerobics will be more enjoyable, and more folks will be out for daily walks.  Summerset is an “over 55” development, with resale homes coming on the market almost weekly.  There is a strong demand for detached homes priced under $300K. 

Currently in Summerset, there are 35 homes for sale, and that is LESS than 2% of all homes in Summerset!  Current Summerset homes FOR SALE were built from 1997-2003, with sizes range from 1048-2857 square feet, and prices ranging from $180-$550K.  The best values per square foot are resales that need updating: a listing on Tayberry at $162/sq ft. and a bank owned on McPrince for $167/sq ft.  Most homes in Summerset are gently used, but may have original kitchens/bathrooms, pastel carpets, wallpaper and brass fixtures; items which current buyers may want replaced.  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.  Rentals start at $1250 and go quickly when they come up on the market.

Summerset is located in Brentwood and made up of 4 communities: Summerset I, Summerset II (The Palms), Summerset III (Vista), and Summerset IV (The Orchards).  Each community has its own HOA, recreation center, pool/hot tub, tennis courts, 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.