Michele, Home Buyer in San Francisco, CA

I would like to know how much the real estate values have come down in Castro Valley since 2005 (i.e. the

Asked by Michele, San Francisco, CA Mon Jul 14, 2008

height) and what the current predictions are for their likely movement over the next year or two. If possible, I would love information specifically related to single famliy homes in the better areas and best school districts I am considering buying there and would really appreciate the info!

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Hi there. I'm not an agent (no code of ethics) so here's the lowdown! LOL I've been in CV for the last 8 years and LOVE IT. It a great central location, best school district in our area, and not too expensive (versus San Ramon, Pleasanton). 5 Canyons and Palomares in east CV have newer homes in a planned community. OK if you like cookie cutter houses and a uniform neighborhood. The Greenridge area is nice, homes on the hill with views, older, but nice. Columbia area, Tahoe like setting with views. There's also the Seven Hills area, which is considered nice. Downtown area, closer to shopping and BART, but intermixed with a lot of apartments. West CV borders on San Leandro, not as nice I think. Anything below Interstate 580 is a lot cheaper (bordering on Hayward), and I think belongs to Hayward school district? Check the school map for more info at the district website. Generally, many homes in CV are ranch type homes, and you will see a mixture of home styles in the older neighborhoods where there is no planned community, and builders built and subdivided older lots. The best Elemtary schools are in Eastern CV, but honestly, all the schools are great. There are only 2 middle schools and one high school for the entire CV. The only time your address in CV would count is for elementary enrollment FYI. The prices seems to have fallen more rapidly in the last few months (to me it seems, as I am also shopping for a new home in CV), but are still IMHO overpriced. The smaller ranch homes in the downtown areas seem to have fallen a little faster, with the new home communities lagging a little behind, but falling nonetheless...I expect to see more decreases in prices after summer, especially maybe more in the newer home communities (last to get "hit"?) as homes take longer to sell, and owners that are forced to sell must continue to lower prices to attract buyers (nevermind having to compete with foreclosures that may appear)...
1 vote Thank Flag Link Tue Jul 15, 2008
Hi Michelle,

To answer your question on the value in Five Canyons, Castro Valley since 2005:

A 4+ bedroom home of 2,900+ squre feet or more was selling in a range of $835K-$1,160K in the year 2005.

In 2008 similar homes are selling between $925K-$982K

Please go to my Castro Valley Blog at:
http://castrovalleyhomes.wordpress.com/

Meena Gujral
Help-U-Sell Achievers Realty
510-279-9580
1 vote Thank Flag Link Tue Jul 15, 2008
It is now Fall of 2010. Prices are finally beginning the slow downward trend. Castro Valley has been hugely overpriced for decades now. I am finally starting to see many many homes reducing their prices -- and it's started in earnest now. This month of October has shown a lot of small price reductions. Still has a long way to go but at least some price corrections are taking place. I'm hoping that 2012 might be the year to make a purchase in Castro Valley after prices have fallen at least an additional 20%.
0 votes Thank Flag Link Wed Oct 20, 2010
Hi Michele,

A buyer just asked a similar question today about Castro Valley and here was my response to him:

I lived in Castro Valley for 6 years in Five Canyons and it is a great community to live in. When I moved there, my neighbors were coming to my house to welcome me with flowers and beautiful plants. I had moved from San Bruno where we had lived for 18 years and hardly knew our next door neighbors. What a difference we noticed when we moved to Castro Valley.

My children went to the Castro Valley schools and by son just graduated from Cal (Berkeley). Needless to say, the Castro Valley schools are very good and the yards are good size plus you will get more living square footage in Castro Valley homes.

Please go to my Castro Valley Blog at:
http://castrovalleyhomes.wordpress.com/

Please also go to my website at:
http://helpusellachievers.com
and click on "About Castro Valley" on the left side bar almost at the bottom of the page to see all the homes I have sold in Castro Valley especially in Five Canyons and Palomares hills (Two of the best areas) in Castro Valley.

I sold my house in Five Canyons last year for 1,125,000 (2,992 square feet) and just recently had a listing that was listed at $950K (3,526 square feet) which is pending at this time. You can see that larger plans are selling for less than what I sold mine at a year ago. Prices have come down in Five Canyons and Palomares hills, but they are still very desirable areas because of the great schools and the quality of the neighborhood.

I would be happy to answer any questions you have about Castro Valley since I specialize there. At this time there are several homes listed in Castro Valley and I can send you these listings if you want to contact me at 510-279-9580.

Thanks

Meena Gujral
Help-U-Sell Achievers Realty
510-279-9580
0 votes Thank Flag Link Tue Jul 15, 2008
Hello Michelle

Go to http://www.bayeast.org/mls/stats/bayeast. Click on "detached", then click on Castro Valley. You will see year by year statistics for Castro Valley single family homes.

Castro Valley School District is a great district. I have three children in the school system. Be careful which home you choose because some homes in Castro Valley are not located in the CV School district.
If you want to rate the school by test scores and get other information, you can look on greatschools.net.
I'm not sure about the current predictions for the housing market. Jim Cramer from Mad Money on the Today's Show recently said some positive things about buying homes at this time.
The inventory of homes in Castro Valley seems to finally be declining which is a good sign that we may be at the bottom or close to the bottom of prices in this market.

Feel free to contact me for more information.

Danielle Keil
Coldwell Banker Castro Valley
Web Reference: http://www.GotYourKeys.com
0 votes Thank Flag Link Mon Jul 14, 2008
Hi Michele,
Based on Statistics from Trendgrahix, a source that compiles data from public records, it notes the following for Castro Valley: June 2005 Average Sold price was $723,000 with average square foot price of $398 a square foot. June 2008 Average Sold price was $547,000 with average square foot price of $315 a square foot. There are more things to consider than just statistics, which some times do not paint an accurate picture. Regarding the different neighborhoods in Castro Valley...there are some very distinct areas. I lived in Castro Valley for 7 years, have sold many homes and have an office in Castro Valley, as well. Please feel free to call or email me with any questions or if to discuss your situation more in detail. Best of luck to you.
-Greg
0 votes Thank Flag Link Mon Jul 14, 2008
Real estate professionals per the code of ethics can’t make those comments we can provide history of stat's or direct you to local media reports . Schools you can visit the ISD website will provide stat's .
http://www.lynn911.com http://www.homes-for-sale-dallas.com
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Mon Jul 14, 2008
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