The condo real estate in Dublin, CA remains very much a seller’s market in February. At the end of January, Dublin had roughly just over one month of available resale inventory. Most real estate professionals consider anything below five months of inventory to be a seller’s market. Unfortunately the Dublin condos sold in January were primarily distressed properties (75%). Of the 20 units sold, eight were short sales, seven were foreclosures, and only five were traditional resales.
Of the 20 resale condos that closed in January, 11 units (55%) sold at or over list price. Sales of Dublin condos in January included:
Opening its doors to customers during a time when many restaurants were leaving the business, Lanna Thai in Livermore has quickly become a frequent destination for residents living in the Tri-Valley and beyond. Lanna Thai Owner and Executive Chef Prakin Gamble has built such a reputation as to attract stars such as American Idol runner-up Adam Archuleta. Cornerstone Fellowship founding pastor Steve Madsen and many from his congregation are also said to be regulars at Lanna Thai.
With the economy improving as more jobs, new home construction, and businesses return to the Bay Area, Lanna Thai has taken bold steps to prepare for the elevated expectations from their customers. Diners visiting Lanna Thai will notice a distinctly different feel to the experience that starts with the beautiful new menus. Inside the menu, Prakin finally added many entrées that have long been enjoyed by loyal customers who know about them. These crave-worthy favorites include the Spicy Chicken Roti, Curry Crab Meat Fried Rice, and Larb, which is a pork dish seasoned with lime juice and special Thai spices.
Fresh off a victorious two-pronged sneak attack on Pleasanton and San Ramon, Walmart looks poised to open two of their Neighborhood Markets in the Tri-Valley. One of the new Neighborhood Markets would be located at the former Nob Hill Market building on Santa Rita Road in Pleasanton, and the other one would be at the Country Club Village shopping center on Alcosta Road in San Ramon. By pouncing on desperate property owners in older shopping centers and having them quietly pull out the necessary permits, Walmart appears to have secured the rights to open their new stores without even the knowledge of both cities’ Councilmembers. Rumors had circulated for months prior to Walmart’s recent revelations.
Both of the new Walmart Neighborhood Markets will be located within a mile of an established supermarket. In Pleasanton, Walmart Neighborhood Market will go head-to-head with Safeway; in San Ramon, the controversial grocery chain will compete with Lucky. Many would assert that the competition from Walmart should be a good thing for Tri-Valley residents in the short-term, as Safeway and Lucky will be forced to lower their prices and offer friendlier customer service; on the other hand, the long-term effects of having so many Walmart stores in the Tri-Valley may be less rosy.
As a direct result of the public outrage expressed by ratepayers in Dublin, San Ramon, and Pleasanton over the past few months, Dublin San Ramon Services District (DSRSD) has decided to eliminate the the controversial “Pay for Performance” program that funneled more than $2.5M in bonuses over the past 13 years to the water agency’s employees. The widely criticized bonuses were above and beyond performance-based incentive compensation paid out as part of the agency’s employment contracts. Prior to the unpopular decision to approve these bonuses for DSRSD’s top brass last year, DSRSD had passed a series of rate hikes on to its customers in Dublin, San Ramon, and Pleasanton.
“We probably received a hundred emails from rate payers and a lot of attention was generated through media attention and local blogs,” said DSRSD Board Member Dan Scannell in an interview with Contra Costa Times. Scannell has been a board member since 2000 and a vocal opponent of the controversial bonus program. “The residents were outraged over these huge bonuses during a recession, and wanted to know why we were not reducing rates instead.”
KB Home and Charter Properties recently unveiled their plans at a community meeting for the new homes they want to build on land that was originally approved for commercial and public/semi-public use at the Promenade in the heart of Dublin Ranch Villages. The meeting, held at Grafton Station’s Cellar 9 Restaurant & Bar, drew roughly 30 residents. No official from the City of Dublin attended. When Regent Properties held a similar meeting for the Sorrento residents at their community club house, Consultant Planner Mike Porto was present.
As a lending industry professional serving Dublin, CA and the greater Bay Area, I get questions about mortgage rates all the time. Lately, with interest rates at an all-time low, people want to know if the cost of borrowing will head up, down, or sideways. I can definitely tell you the rates are headed up. Now, the rock bottom could be tomorrow, in three months, or in six months. Who knows? I stopped trying to predict that long ago. This country has printed almost as much money in the last few years as all the drunken sailors have spent overseas since the first fleet was assembled. With inflation on its way, the return of higher interest rates is only a matter of time.
People love a good deal. Prospective borrowers want to wait for the rates to hit rock bottom before they pull the trigger. Why pay more to borrow than you have to? I can understand and respect where these customers are coming from, but people who are fixated on getting the lowest interest rate often forget to account for the cost of waiting. They may still be paying rent when owning could very well be cheaper after they take advantage of the tax deductions. As they sit on the fence, the only outcome they are guaranteeing is missing out on the terrific rates available today.
KB Home and Charter Properties are inviting residents in Dublin Ranch Villages and their neighbors at Sorrento to a community meeting on Saturday, February 18th. This outreach event will be held at Cellar 9 Restaurant & Bar from noon until 2:00PM. Cellar 9 Restaurant & Bar is located at 4112 Grafton Street in Dublin, CA.
Perched on top of the idyllic West Dublin Hills, the homes at Schaefer Ranch have been a hot commodity for families looking for larger homes with grand views of gorgeous terrain. Discovery Homes, a subsidiary of notorious developer Seeno Construction Company, is now looking to convert some of that precious open space to single family homes in Dublin, CA. Dublin City Council recently approved a request by the developer to initiate a study to see what more homes within the view corridors at Schaefer Ranch would look like. Such a study would be the same as the one approved by Dublin City Council to cram more high-density housing into an area of the Promenade where none had been planned originally. Consultant planner and Southern California resident Mike Porto is in charge of both controversial projects.
If you are looking at different neighborhoods in Dublin, CA, please visit our Dublin Ranch Neighborhoods page. This page features information on schools, parks, floor plans, and an interactive neighborhood map of Dublin Ranch Neighborhood.
The number of detached homes sold in Dublin, CA decreased by 12 in January 2012. A total of 17 homes sold in January compared to 29 in December 2011. The highest sale price for homes in Dublin was $1,003,800 on Kingsmill Terrace. That home sold at $199 a square foot. The lowest sale price for Dublin homes was $390,000 on Tamarack Drive. That home sold at $274 a square foot.
The average days on market for Dublin homes was 43 with an average list price of $610,891 at $265 a square foot. The average sale price was $608,078 at $263 a square foot.
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