Javier, Other/Just Looking in

Windemere, San Ramon is new schools are A . Been outbid on 12 homes, is San Ramon the new Cupertino, and we should pay huge premiums!?

Asked by Javier, Sat Jul 13, 2013

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"Dougherty Valley High School in San Ramon, CA was the most improved school with its whopping 68-point jump in 2010-2011. California High School in San Ramon, CA suffered the largest decrease for the year with a 15 point drop. California High School’s overall academic performance has continued to decline over the past few years as cross-town rival Dougherty Valley High School has attracted many
high-performing students. "

1 vote Thank Flag Link Wed Jul 31, 2013
It sounds like you need a new strategy. First recognize that "list price" is not a real meaning of value. Some homes are overpriced, others about right and some low. The homes price at the low end of their market value will generate multiple offers and often the final result will be over expected market value.
You need an agent who will read between the lines and advise you of the best strategy to win in a multiple offer scenario without necessarily overpaying. If you can, find out where you finished in some of the previous offers and why your offer wasn't selected. Is your pre-approval letter well written and persuasive? Do you have enough down payment and earnest money to compete? Are you requesting a closing date that is not what the seller's want?
Values are rising and you have to consider the past 30 days closings and the trend to be competitive. I hope this helps, best of luck.
1 vote Thank Flag Link Sat Jul 13, 2013
All the evidence is there,
Yeah! Pretty much.
1 vote Thank Flag Link Sat Jul 13, 2013
You ask “Is San Ramon the new Cupertino?” Let’s see …

Cupertino has:
• Apple, Hewlett Packard and over 60 other tech companies headquartered there.
• Close access to ALL major tech companies.
• Access to upscale shopping in Santana Row, Valley Fair and Stanford Shopping Center.
• Close to a major international airport.
• Average house price of $1,555,000
• And so on.

Windemere has:
• Safeway, Pete’s Coffee, Zaza Nail Salon and Gayle Ranch Dental Clinic …
• Close access to Chevron, AT&T and Robert Half Company.
• Access to Pleasanton’s Stoneridge Mall and Livermore’s new Outlets …
• Close to Livermore’s Airport and the helipad at the hospital …
• Average home price is $945,000.

My conclusion: San Ramon and Windemere, specifically, is NOT the new Cupertino …

However, if you want to live there, you need to pay the going rate. Just like any other community in the Bay Area. Windemere is not the only hot community around. It just attracts a certain demographic – most of whom happen to work in Silicon Valley. Windemere is hot because it’s a nice bedroom community and a whole bunch of people have decided they like the new homes there and want to live there.

Cupertino is hot because it claims to be the epicenter of the high tech universe. Or the world, for that matter. It’s not a bedroom community in any way – and the prices reflect that reality.
1 vote Thank Flag Link Sat Jul 13, 2013
If you can afford it, buy a new home from a developer in Gale Ranch or Windemere where the prices are already set. Be aware that Windemere does have higher property taxes than Gale Ranch. You pay a premium for a new home, so you have warranties and you'll probably do some landscaping. Just my 2 cents.
0 votes Thank Flag Link Mon Apr 6, 2015
Getting an offer accepted in this hot market is possible if you have the "right" strategy in place. First of all, listing price is not always an accurate value of the property. A solid agent should guide you to prepare a strong offer by basing the offer price on sold comps of similar properties and factor in the supply and demand percentage to draw an accurate offer price. Second, it is not always the highest price that wims the offer but sellers also consider important factors such as contingencies time frame, financing terms and emd.
0 votes Thank Flag Link Mon Mar 17, 2014

I do sell/buy in the Windemere/San Ramon community. There is pricing pressure as inventory is still not meeting demand. However, I do see more $600 - $800K selling inventory improvements lately in the Windemere/Gale Ranch areas.

Depends on your definition of "huge" premium, the agent should be able to provide you good comps / market value for your offers.

Johnny Su, Broker
Premier West Realty
0 votes Thank Flag Link Mon Aug 19, 2013
Real Estate is really marvelous!
When a particular area is more expensive; there is usally a reason for it.
Only you can decide if it is worth it for you.
0 votes Thank Flag Link Wed Jul 31, 2013
If you have written on 12 homes without success, it is apparent that you are not writing high enough. I would hope that your agent is guiding you on how far above list price you need to write, just to have a chance of being the successful bid. Of course terms enter into it as well.

The goos news for you is that the market is definitely showing signs of slowing down. I personally know of a few Windemere homes that sold recently without multiple offers (sometimes to the surprise of the listing agents).

Bernard Gibbons
0 votes Thank Flag Link Sat Jul 13, 2013
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