Home Buying in Walnut Creek>Question Details

bellesorte, Home Seller in Walnut Creek, CA

are buyers still tearing down houses in WCR to build "McMansions"...or has that stopped/diminished?

Asked by bellesorte, Walnut Creek, CA Sun Feb 3, 2013

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7
Hi Jane,
I am curious if your questions were answered? A lot of wisdom was shared from all of my colleagues but I wanted to circle back and insure that we had answered back with enough information. If you still have further concerns or questions, we would all be happy to weigh in again! Let us know! You can reach me directly at 925-708-0008.
0 votes Thank Flag Link Tue Feb 5, 2013
Hi Jane,
I agree with many of my colleagues remarks below, but would like to add a few extra pieces. A lot of what people are doing depends on the area of town. For example, I just had some clients buy a complete fixer in Rudgear Meadows. The "bones" were still good, so they kept the structure, but gutted it down to the studs and remodeled from there. They did this for a couple of reasons - 1) The neighborhood CC&R's were pretty restrictive and would not allow them to do too much in terms of moving structural walls, etc. 2) Since the structure was still in good condition, it was more cost effective to just remodel 3) The lengthy permitting/approval process with the city was something they did not want to deal with.

Having said all of this, if the property isn't located in a neighborhood with restrictive CC&Rs and the buyer is willing to wait upwards of a year or two to go through design review, city permitting, etc, to have the house of their dreams, then you might see someone wanting to purchase a property to have their home built. As far as McMansions are concerned, most homes that are being torn down and rebuilt are generally staying within the style and relative size of the surrounding neighborhood.

Hope that answers your question, but if you need any more insight, please feel free to contact me.

Thanks,
Brian

Brian Rochford, Realtor
Tom Rochford Real Estate Co.
(925) 285-0439
0 votes Thank Flag Link Mon Feb 4, 2013
I have lived here for over 15 years. I see less upscaling and more remodeling or updating. for alot of people since prices have come down in many areas. It is almost a better time to move to a different part of town into a home with the ammenities needed than to deal the building department.
0 votes Thank Flag Link Sun Feb 3, 2013
Hi Bellesorte, Do you have a Realtor? Planning on building there?
0 votes Thank Flag Link Sun Feb 3, 2013
I agree with Elizabeth but have actually seen redevelopment happening in all of the areas of Walnut Creek, even newer areas like Northgate.

Investors and contractors have been quick to purchase properties that may or may not not need a total tear down, can been added on to, brought up to code, and up to date.

If there is a possibility to subdivide, then the property has added value for developers.

Demand for really ANY inventory is exceptional in all of our markets in Contra Costa County.
Let me know if you would like to discuss different strategies. I work with investors as well as several contractors and developers!

GO NINERS!
0 votes Thank Flag Link Sun Feb 3, 2013
You do have a good deal of redevelopment taking place in the Larkey Park and Saranap areas of Walnut Creek. In these areas you have larger than average lot sizes due to the period of initial construction. The redevelopment in these areas has actually helped raise property values and the profile of the areas. Since most of these homes were initially part of the post world war 2 building explosion, it is frequently more cost effective to rebuild rather than rehabilitate - particularly in terms of energy efficiency.
The 'McMansioners' are a bit different today when compared to those of the late 1990's and early 2000's. They do tend to try to maintain the character of the neighborhood, you don't see many stucco monstrosities in a neighborhood of charming craftsman homes any more.

Hope this helps!

Elisabeth Simon, Realtor
Keller Williams East Bay
Walnut Creek, CA
408-429-9314
0 votes Thank Flag Link Sun Feb 3, 2013
Hi Jane, I would love to meet with you to discuss your concerns. I have had knee surgery myself and know how trying the process and recovery can be. Please call me at 408-429-9314 or email me at elisabeth.simon@aim.com. We will set an appointment to work within your schedule.
Flag Tue Feb 5, 2013
Hi! Thanks for the answer. I'm actually in the Rudgear area, older home, huge lot...and know that the area of the house can't be expanded, so they could only go up (which would make it a behemouth). Am planning on moving out of the area next year....and am hesitant to do major remodeling if it's going to be torn down. Could you come look at it at some point? I'm having knee surgery in early March, but anytime before that or after (March)....would be fine. thanks....jane
Flag Sun Feb 3, 2013
It would be reasonable for those buying homes in select areas to tear down the obsolete home and replace it with homes conforming to current lifestyle expectations. Contemporary lifestyle may not include architecture with volume ceilings or Chinese drywall, but are more likely to be contemporary floor plans and quality enhancements that are friendlier on the planet.

But "out with the old - in with the new" will continue to be the song of the hour.
McMansions? I doubt if builders are "Lovin' it" any longer.

Best of success
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us.
0 votes Thank Flag Link Sun Feb 3, 2013
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