Vijay, Home Buyer in San Ramon, CA

What will be impact of having San Ramon City Center project on 94582 house prices?

Asked by Vijay, San Ramon, CA Fri May 30, 2008

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Vijay’s answer
Thank you all for your prompt reply. Most of you have mentioned one thing common in your answers. And that is, the San Ramon Citi Center will have a positive effect on the housing prices. I very much agree with you all. San Ramon provides a great school district, great local employement hub (Silicon Valley of the East Bay) and having a great shopping district (so called downtown) will certainly put the nearby area on the top of potential home buyers. The future traffic due to the City Center project is a concern for many residents, but as you all know, you gotta give something to get something and giving up on 10 min. of extra commute time (only if you are crossing the Bishop Ranch area during the peak time) is worth, I think.

For anyone who don't know where this project will be, check out the link below.

I own a condo in Crestview and was very upset with the recent auctions at Crestview that brought down the near by condo valuation to 20% down from last year prices. Although I feel positive about the future. What you all think?

Thanks for all your input you fine ladies and gentlemen.

0 votes Thank Flag Link Sat May 31, 2008
Where exactly is this new city center to be located?

0 votes Thank Flag Link Sat May 31, 2008
My concern is the traffic on Bollinger and how that will affect the commute in and out of Gale Ranch/Windemere communities. Granted residents have the option of driving through Dublin to the 580, but that's already a bottle necked nightmare.

There's been some talk of another exit ramp off the 680, which I can't imagine given the proximity of the two existing. (Bollinger & Crow Canyon.) Even if it were possible, would it still avoid traffic congestion in our idyllic community?

As an investor, I am thinking of purchasing 1 & 2 BR condos for investment...afterall, the staff of this new center will need somwewhere to live!

I live in Canyon Hills and my home will overlook the new City Center - which will not be a bad thing. I just can't imagine my "commute" from Bishop ranch to my home (a mile away!) with the added traffic.

That being said, none of us have a crystal ball. It could have a huge positive effect on housing prices. I'm keeping my fingers crossed!
Web Reference:
0 votes Thank Flag Link Sat May 31, 2008
The Hagley G…, Real Estate Pro in Pleasanton, CA
Vijay - I've talked to the mayor and other officials within the city and they seem to agree with our assessment - one of the neighborhoods to watch is old San Ramon between Montevideo and Pine Valley. Why?

These older houses in need of upgrading have large lots that can handle an addition of another 1000-1400 square feet and still leave you with a nice yard. They are close to good schools, will be close to the City Center and you can access the freeways without having to go through or around Bishop Ranch.

See the link below for our article
0 votes Thank Flag Link Fri May 30, 2008
Hello Vijay!

Thanks for asking an astute question. Although we are unable as real estate agents to provide a professional opinion as to the future value of a property (it's unethical as we really can't know for sure), I will share some insight on future conditions and how it relates.

I ALREADY have buyers that are looking to purchase close to the new city center. These are people who want the comfortable lifestyle of the idyllic neighborhoods iike NewCastle in San Ramon, but want to be able to walk to urban areas offering shopping, dining and events.

When it comes to actual valuation, west side Danville properties are generally higher priced, escpecially when they are within walking distance to downtown Danville. Ditto, Alamo. The indicators are there to say those homes in closest proximity have the potential to increase the most.

That being said, San Ramon as a whole should benefit. We have awesome schools, but are missing the character of a city by our lack of an urban center. Our city planners have been working diligently to come up with the right mix of buildings and magnet businesses. Once our urban area is up and running, San Ramon will have it (think 9 million square feet of offices in Bishop Ranch), great schools and an identity!
0 votes Thank Flag Link Fri May 30, 2008
It really depends how well the plan is carried out. If it is done as well as Pleasant Hill, the effect on prices in all parts of San Ramon should be highly positive. Pleasant Hill used to be considered as little more than a suburb of Concord but the new town center gave it an identity of its own and real estate values moved closer to Walnut Creek's.
My personal opinion is that the effect will begin to be felt as soon as there is some development to be seen there. Until then, many believe it will never happen.
0 votes Thank Flag Link Fri May 30, 2008
No way to tell, until it peaks. Could be years from now. Example: Gallo Center for the Arts in Modesto. Complete late 2007, no meaningful effect yet, and thoughts of effect hav gone back 10 years since they approved it's being built. Will it have a positive effect? Yes When? Who knows. Best of Luck! The Coach
Web Reference:
0 votes Thank Flag Link Fri May 30, 2008
Visibility of the area from out of town visitors, possibly will entice people to buy and stay in San Ramon.
0 votes Thank Flag Link Fri May 30, 2008
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