Home Buying in Walnut Creek>Question Details

Talisa, Home Buyer in San Francisco, CA

walnut creek

Asked by Talisa, San Francisco, CA Fri Mar 14, 2008

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W.c. Varones’ answer
Mercer is still trying to rent:

http://wcvarones.blogspot.com/2010/01/mercer-condos-rent-the…

That asking price seems way too high to me, but the interesting thing is the tiny $600 deposit and the fact that they welcome pets. That smells like desperation to me. My guess is the developer is having trouble making the bank payments and they need to fill it with suckers at very high rent to keep it from going bankrupt.

Bankruptcy would be the best thing to happen to the Mercer. The bank could take it over and then dump the condos at $400,000 - $500,000 a unit.
0 votes Thank Flag Link Fri Jan 15, 2010
I think you should visit the different complexes and make a positive vs. negative list for each. At the end of the day, go with your gut instinct. Only you can decide what is best for your needs and wants. A realtor can give you insight, but you will be the one living there.
0 votes Thank Flag Link Sat Aug 29, 2009
I love WC Varones :D Tells it like it is. I hope you didn't buy at Mercer either, total ripoff. Around the corner is http://www.555yvr.com and the 1br starts at an asking price of $300k. I'm under the impression that that's quite high too. Did you hear of that suspicious fire in a stairwell at Mercer? If I lived at Mercer I'd be afraid that one of the 180 people who had the rug pulled out from under them would maybe think about trying to get their money back somehow, by hook or by crook.
0 votes Thank Flag Link Sat Aug 29, 2009
Hope you didn't buy! Somebody is trying to dump at a $165,000 loss after just two years.

http://wcvarones.blogspot.com/2009/08/mercer-walnut-creek-up…
0 votes Thank Flag Link Sat Aug 29, 2009
Hi Talisa,
There are some very good buys in Walnut Creek, however, I've heard bad things about both the Mercer and Montecito. The best thing to do is, get with a realtor and take a look at what's available for your price range. Buying in our present market is a great opportunity. Please contact me if you would like to discuss this in more detail.
Regards,
Suzanne Looker, 'Your Pet Friendly Realtor'
0 votes Thank Flag Link Thu Nov 20, 2008
Besides the Mercer, there are some decent resales in the Montecito (built in 2002). Other than that, there are a few things in the works at the City's design review.

See link: http://www.ci.walnut-creek.ca.us/header.asp?genericId=3&…

I will warn you that the Creekside properties have very limited off street parking. So while you may be able to park, your friends and family will have to park on South Main Street and walk a mile to get to you!

The Riveria units look nice and they are close to BART. However, they are a bit out of town.

Hope that helps.
Brian
0 votes Thank Flag Link Mon Nov 17, 2008
Anything coming up around downtown WC? I was interested in the Mercer but their prices weren't aligned with reality.
0 votes Thank Flag Link Thu Nov 13, 2008
I hope you didn't buy. They tried to sell them for months, cut the prices more than 20%, then gave up and started renting them.
0 votes Thank Flag Link Wed Nov 12, 2008
You'd be crazy to buy those condos at those prices with those outrageous HOA fees.

Condos in SF are pricey, but at least you get to live in SF. Why pay the same amount to live in the burbs?

http://wcvarones.blogspot.com/2008/05/development-for-dummies.html
0 votes Thank Flag Link Thu May 1, 2008
Good Morning Talisa,
Yes there are. I am putting together a list of properties now. Can I ask you to send me a direct email to ajcohen@apr.com with your email address so we can take the discussion off of the forum and continue our discussion?
Thanks,
AJ Cohen
0 votes Thank Flag Link Tue Mar 18, 2008
In SF, I looked at Park Terrace, 170off3rd, The-infinity, Arterra(too close to the freeway), Radiance, The Potrero
In WC, I only looked at Mercer. Are there new developments like housing there instead that will minimise the HOA and make the commute worth it?
0 votes Thank Flag Link Tue Mar 18, 2008
Thanks for getting back to me. Have you only been to Mercer in Walnut Creek, or have you been to other locations in WC and have you only been to Radiance and 25 Sierra or have you looked at any others?
0 votes Thank Flag Link Sun Mar 16, 2008
Less than 950k in SF for 2 bed/2 bath, car parking, gas kitchen with vents out, higher than 2nd floor, lodsa light and in WC, 3 BR for less than 900k.
0 votes Thank Flag Link Sun Mar 16, 2008
Talisa,
Quickly how many bedrooms over 1200 sq feet and where are you with your price range? I am also feeling like if possible SF is where you would like to be or is WC truly an option with bart? You can answer here or at ajcohen@apr.com Thanks AJ
0 votes Thank Flag Link Fri Mar 14, 2008
Yes, no TICs.. and I want more than 1200 sq feet.
0 votes Thank Flag Link Fri Mar 14, 2008
Talisa what size were you looking at? Are you staying away from TIC in the city?
0 votes Thank Flag Link Fri Mar 14, 2008
Talisa,
I have heard mixed reviews about the Mercer. I have heard that though it is new construction, some of the finish details fall short of expectations. On the other hand, I have heard that some people love it. I have put two separate clients there. They both love the proximity to everything that Walnut Creek has to offer. Walnut Creek is still expanding; bringing in more big name retailers like Neiman Marcus and specialty restaurants. I know they are aiming to make the retail similar to SF. Being an East Bay native, I would say that I am partial to WC, but I have never lived in SOMA/China Basin. Also, in addition to the Mercer, there are a number of other high end condominium projects going up in the Walnut Creek area. Depending on what your needs are (i.e. proximity to work, transportation, extra curricular activities, etc); should help you determine which area you want to live. If you work in the city, then I might suggest living over there. On the other hand, a lot of people who work in the city don't want to live there, so Walnut Creek would be ideal, since it has easy access to BART and Hwy 24.

Well if you have any specific questions regarding Walnut Creek, I would be happy to answer them for you. With respect to SOMA/China Basin, I apologize, but I am not that familar with that area. Best of luck.

Brian
0 votes Thank Flag Link Fri Mar 14, 2008
I went to see Mercer and liked it. I compared it to 2 locations in SF, one is the Radiance, and one is 25 Sierra at Portrero. Portrero was about matching room sizes, radiance was about space. Transportationwise, with Bart so close to Mercer and more reliable than the Muni, it seems more reasonable. But it's not SF and not sure if the HOA being around $500-$600 is reasonable.
0 votes Thank Flag Link Fri Mar 14, 2008
Good Morning Talisa,
This is a difficult question but it depends where in the SOMA district you are looking. If you are looking at the lower and mid priced units that are right up against the freeway be careful. There are quite a few foreclosures popping up in there which is not a good sign, as you get further away from the freeway prices jump significantly and the foreclosure, short sales go down. It all comes back to location. When looking at places in the city such as Laurel Heights or the panhandle you are dealing with strong established communities but up against the freeway in pockets of SOMA could have a negative effect on your long term investment. Mercer on the other hand is located in the heart of Walnut Creek and is selling well even in a depressed market because of what it has to offer. I have helped two clients get into Mercer. The first was a retiring couple. We sold their home in Danville and they moved into a 2 bed with an office unit and the second was an out of state couple looking for a one bedroom vacation home (pretty funny that Walnut Creek is their vacation home, but that is where their kids are). I would be happy to help you out in any way especially since I know where we closed on two specific models.
If you would like you can reach me at my email ajcohen@apr.com or call me at 925.819.2747
Have a good day,
AJ Cohen
0 votes Thank Flag Link Fri Mar 14, 2008
Apples and Oranges basically. One thing great about Mercer is that it's so close to BART for your commute to SF, it's 3 blocks to the station. The price will definately be differentiated by city location. Would you like me to get information for you from the builder?
0 votes Thank Flag Link Fri Mar 14, 2008
Sorry, I meant to ask, is Mercer Walnut Creek a good place to buy as opposed to San Francisco SOMA/China Basin
0 votes Thank Flag Link Fri Mar 14, 2008
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