What’s Up with the Market??

That’s an excellent question. Home sales in American Canyon dropped by almost 50% in March compared to last year. But the median sales price rebounded to over $600,000 after a fairly precipitous four month decline beginning in October, 2018.

At first glance this appears to be a rather significant market correction. Home prices in the city rose too rapidly (overall) last spring and now they are retreating. But statistics can be misleading. I don’t believe that we are seeing a market correction. The big homes are still selling for a lot – there just aren’t as many big homes going up for sale as there have been (although that’s changing as I write this).

Almost half of all the homes sold since August 1, 2018 have been in the Rancho del Mar Subdivision. Owners are starting to cash in on the profits. However, buyers have become discriminating in what and how much they are willing to put down. I think that I said this back in August. Buyers want quality since they lack quantity. That’s what the ever increasing days on market is telling me.

As a seller, what does this mean for you? You are going to have to put some time and effort into your home. And hey, that’s ok, pride of ownership is important, right? A little bit of elbow grease never hurt anyone (too much). Mow the lawn, trim down the bushes along a walk-way, pressure wash the front of the house, re-paint the trim. These are all things that a seller can do to improve the curb appeal without breaking the bank.

Make sure that the inside sparkles. Mop the floors, get the carpet cleaned, make your bed, do the dishes and know that most buyers will peak into your closets – even messy linen closets can leave a negative, lasting impression.

Council Got it Right!

3 cheers for the American Canyon City Council Last night. Nope, not talking about the Bottoms Up controversy (although I do appreciate their decision to deny the appellant). I’ve tried to stay out of it. I have many friends that I respect who are dead-set against it for a variety of reasons and I support them. Me, personally, I just chose not to give them any of my money.

I will say this, though. What I particularly liked was seeing the Oro-Leary coalition spear-head the “let’s move on and deny them” contingent. They were right. There was little more to say and little more that the appellant could do to sway minds. Ken’s distaste was clearly palpable as he tried to describe the “modeling” pictures of the applicant. Glad that David and Ken were able to get council to move rather than pass the buck until the next council meeting. I would also like to give kudo’s to our own local lawyer Ralph Andino who was representing the unpopular coffee chain here. It’s not easy to take what many consider to be the wrong side – especially in a small town like ours. Ralph is good people and showed it last night.

Council also gave Canyon Estates another 2 years to get things in order by extending the Tentative Vesting Subdivision Map. It’s an interesting plan – to some degree scaled back from it’s original vision I think. You can hear my thoughts on it here: http://americancanyon.granicus.com/MediaPlayer.php?clip_id=1168&meta_id=89325 (my comments begin at approximately the 1:27:30 mark)

But for me, the big win of the night was Council’s decision to grant the new owners of Laso LLC a $40,000 no-interest loan to install an outdoor grease trap (or something to that affect). This will allow our local residents who are trying to start a family restaurant in town, the ability to do so.

I appreciate Councilmember Leary’s point about 90+% of all restaurants failing in the first two years. The fact is that this loan is a risk and that the applicants – and not the owner – are really taking all of the risk. It’s isn’t entirely fair to either the city or the applicants; but I can tell you this: last night’s vote by Council to award this loan was another tangible step forward in our larger goal. It’s time that we begin to move forward and have a larger tent

I love having lunch meetings at Thai Kitchen, Mi Zacatecas, Tacos Michoacan, Crave, et al. But that doesn’t mean there isn’t room for another restaurant. As we lurch forward with hope, also known as Watson Ranch, we will need more amenities like Laso to attract buyers for these $1M-plus properties from Canyon Estates. As we seek to continue to attract new homeowners to our area for the existing housing stock, we need to show discernible proof that we are prepared to make our community even better. $40,000 towards two young men’s dream seems like a small amount to me.

It’s been a while…

…and a lot has changed in the American Canyon Real Estate Market. Without a doubt the market has shifted from a hot sellers market to a more normalized market. We aren’t quite in a buyer’s market just quite yet, but we certainly headed there.

As of Sunday, there were 26 homes on the market. Last December there was only 15. Quite an astounding increase in inventory – this is a good thing. I predicted earlier this fall that the inventory would continue to increase and that sellers would need to start working harder. You can’t just throw a sign up in the yard and expect the buyers to come flocking. Good news is that home prices are slightly higher then last year at this time with the average sales price in the low $500,000’s.

Higher interest rates (hovering around 5%) and higher home prices mean slightly fewer buyers…and they are more discerning. They are taking their time to find the right home, rather than just any home. Staging is more important than ever now. I don’t mean that you necessarily have to go out and get all new furniture. I do mean that you have to de-clutter, de-personalize and clean.

As a buyer the good news is that you have a lot to choose from. The right home is out there to make your own. There are a lot of beautiful homes on the market right now and they seem to be lingering and there is a great opportunity to get them at below market…510 Chaucer, listed by Marcia Hadeler with Coldwell Banker and offered at $529,000 is one such home.

4 beds, 3 baths, 2003±sf – court location at the end of Chaucer; large back yard. Full bed and bathroom downstairs. My wife loves this home.

I will be honest though…right now my heart is set on 416 Bettona Way listed by good friend Nelia Medeiros and her partner Loreto Stribling with Eagle Vines. It’s currently listed at $657,000 and is a huge steal. Homes in that area were going for $680,000’s earlier this year. This is what I mean about the market softening. It’s been on for a over a month. Had it come on this past spring it would have garnered multiple offers and been off in a week.

4 bed, 3 bath, over 3100sf – this home has a fantastic flow.

If you have any questions about the real estate market I’d love to hear from you. Call me at (707) 853-0797 or email: rich@napasolanohomesforsale.com


Open House Alert – 93 Crawford Way

Hey, I will be holding open 93 Crawford Way in American Canyon today (Sunday August 26, 2018) from 1 – 4pm. I had the opportunity to preview it on Brokers Tour earlier this week and it is stunning. I’m particularly enamored with the back yard – it has it’s own greenhouse and is large enough for entertaining.

93 Crawford Front

Gorgeous engineered wood floors, newer carpet and tile. It’s got this fantastic front yard garden – You can be sure that I will be taking pictures of that this afternoon. Listed at $545,000 by Kasama Lee from our office. I hope to see you there!

Other homes open this Sunday:

102 Summerwood Dr – Listed by Dotty Hopkins with Keller Williams and offered at $659,000. This 4 bath, 4 bed home shows beautifully. It has an open floor plan and has a junior master suite down stairs. I highly encourage you to take a look.

25 Larkspur – Listed by Travis Behn with Eagle Vines and offered at $549,000. This really is a pretty neat home. It does need new carpet and new paint but it does have a new roof put on so there’s that. The home is a little bit dated but for the most part it really is move-in ready. I am a fan of yards and this one is large with plenty of room to make it your own. Open 1-4pm today.

2108 Elliott Drive – Listed by Joe Brasil with Coldwell Banker and offered at $539,000. This one is a flip but the seller did a really nice job. The home is turnkey. It backs up to Kimberly Park and is just blocks from the multi-use center. Open from 1-4pm today.

323 Los Altos – Listed by David Barker with Better Homes and Gardens and offered at $459,000. It’s a cute house that has been upgraded. A 1954 bungalow in the heart of Rancho del Mar. Open today from 1-3pm.

210 Carolyn Dr – Listed by Octavillo Maravilla with 3 Tree Realty and offered at $449,990. Major upgrades to the home including new roof and gutters, new electrical…these are some big-ticket items and this group does a really good job. Open today from 12 – 3pm.

702 Deerfield Dr – Listed by Deepal Karunaratne with Redfin and offered at $445,000. This is one of the lower prices for a single family detached home in the Canyon Creek subdivision and it’s probably a bit of a steal. This was on the market this past winter. It’s open today from 1-4pm.

15 Lena Drive – Listed by Carlos Cruz with Intero Real Estate and offered at $419,000.  Home has potential but there is also a bit of differed maintenance. At this price, however, that shouldn’t scare you off. Fantastic setting with a large back yard. Open today from 12 – 3pm.

Am Can Open Houses 8/18-8/19

Hey there folks, we only have a few open houses around town this weekend although we have quite a few new homes on the market. I’ve been talking to a few agents around town and they’re getting fewer – and lower – offers than they have been in the past. I will talk about that Monday morning in my new, weekly recap of the American Canyon housing market. For now, here’s what’s going on around town this weekend:

Saturday Open Houses

25 Larkspur Front

  • 25 Larkspur St (11am – 2pm) I really like this home. It has one bedroom downstairs and a huge back yard. It’s pretty much close to everything – just a couple of blocks to the community pool, the middle school and Donaldson Way Elementary. It was in contract earlier this spring but the buyer bailed. Since then, a new roof has been put on the property. I’ve spoken to the listing agent and the seller is motivated, even willing to consider unconventional offers.

Sunday Open Houses

  • 25 Larkspur will be open again from 11am – 2pm.

2108 Elliott Front

  • 2108 Elliott Drive (1 – 3pm) – This home looks stunning. I’ve known the listing agent on this one for a couple of years and he always has beautiful homes. It’s on the market at $539,000.

102 Summerwood

102 Summerwood Dr (1 – 3pm) – Last up for open houses this week. This home shows beautifully. It was on brokers tour yesterday and it was impressive. It’s listed at $659,000.

Build Your Dream Home

It’s really that simple. The more that you tell me what you want the better I can do to help you find the home that you’re looking for…unless it’s new construction in American Canyon. Then you have to wait a couple of years…maybe…if you’re lucky. That’s kind of a bummer for the 60% of of respondents to a CAR survey that said they wanted new construction.

Dream-Home-hi-res

 

AmCan Open Houses for 8/11-12

The Inventory in American Canyon is exploding, reaching heights that we haven’t seen in nearly five years. Here’s a recap of open houses in the City this weekend.

Saturday

  • 35 Pienza Dr from 12-4pm: 4 bed, 2.5 bath, 2126± sf @ $590,000 (hosted by me!)
  • 114 Ford Dr from 1 – 4pm: 5 bed, 3 bath, 3368± sf @ $699,000 (ornate Italian furniture comes with the house!)
  • 11 Montevino Dr from 1 – 4pm: 4 bed, 2 bath, 2156± sf @ $575,000 (quirky layout but a fantastic backyard. Perfect for a person who works from home).
  • 128 Kimberly Dr from 1 – 3pm: 3 bed, 2 bath, 1024± sf @ $425,000 (again, quirky layout on a bit of a busy street but this a perfect home if you’re just trying to get your foot in the door).
  • 2525 Flosden Rd, Spc 127 from 1 – 4:30pm: 3 bed, 2 bath @ $180,000 (This is a mobile home).

Sunday

  • 704 Westpark from 1 – 3pm: 4 bed, 2 bath, 1989± sf @ $559,000 (I’ve held this open and love the layout; this is one of the best homes in the Canyon Creek subdivision).
  • 25 Larkspur from 11am – 2pm: 4 bed, 3 bath, 1941± sf @ $549,000 (I’ll be honest, I don’t know why this one is still on the market. New roof – May, 2018 – and a YUGE backyard sits on a corner lot. It’s a little dated but I think that you can do wonders with this home. Check it out and tell Travis that Rich sent you!).
  • 323 Los Altos from 1 – 4pm: 3 bed, 1 bath, 1072± sf @ $459,000 (Typical Rancho del Mar bungalo. It’s been decently upgraded and the backyard has a lot of potential).
  • 128 Kimberly Dr from 1 -4pm
  • 35 Pienza Dr from 1 – 4pm (not hosted by me on Sunday…)
  • 228 Pinecreek Ln from 2 – 4pm (haven’t seen. Just came on this morning).

 

35 Pienza Open House 12 – 4pm, 8/11/18

I will be holding open 35 Pienza in American Canyon on Saturay from 12 – 4pm.

This home does need a little bit of TLC (new carpets and paint) but it has a fantastic layout. This 4 bed, 2.5 bath has an open concept living area that is just perfect for entertaining. There is ample space in the backyard to create your oasis away from the craziness of life. Blocks to award winning American Canyon High School and easy freeway access, this home has just what you need to get started in the Gateway to the Napa Valley.