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San Ramon He…, Home Buyer in 94582

Are condos in San Ramon a good investment? I like the ones on Watson and Bolinger Rd. (Siena Hills

Asked by San Ramon Here I Come, 94582 Sat Jun 20, 2009

Complex). There is also a less desireable complex (but less expensive on Reflections (corner of Bolinger Canyon and Alcosta). I'm new to the area. Does anyone have anything good to say about these complexes and of condos in San Ramon as an investments.

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WOW. That's interesting. I heard of a condo in Reflections that needed to be an all cash deal. I guess that's why.
0 votes Thank Flag Link Sun Jun 21, 2009
I just heard that a purchase attempt in the Reflections fell apart at the last minute because the delinquency rate is greater than 15% ... consequently, Fanny and Freddie won't take on the loan and the bank pulled the funding. So, depending on how you plan to finance the deal, getting conventional funding could be very difficult.
0 votes Thank Flag Link Sat Jun 20, 2009
San Ramon is a fantastic community. It has something for everyone and conveniently located with access to all the working centers of the Bay Area. The prices there have fallen considerably pressured by foreclosures in the Dougherty Valley and competition from lower priced Dublin.

Regionally, condominiums in general have been hit especially hard. Lenders are now scrutinizing associations and pooly managed associations are being punished for less than ideal financial stewardship.

When choosing a condominium in San Ramon or otherwise take a look at surrounding communities at the same price point. (Even though you are not looking in other areas). Since OTHER BUYERS may be more flexible, you should get a good picture of the demand at your price point and see what options are out there for other buyes.

For example. lets say you are looking at the 400k price point. A buyer commuting to San Francisco may compromise on a lot more square footage Single Family home in Concord or Livermore, or an easier commute in a townhouse in Walnut Creek, Pleasant Hill, or Dublin. Doing more homework from there (looking at adjustments and trends) will make clear the price you should be paying and show you where the market is and will go in the plannable future.

To paraphrase Jim Cramer; Before you buy do a lot of homework with your agent.
Web Reference: http://bob2sell.com
0 votes Thank Flag Link Sat Jun 20, 2009
I think these are one of the best condos you can buy in San Ramon in this price point. We have sold 4 or 5 of these over the past few years. Though the complex is a conversion, they were originally built as condos. This complex has appreciation potential. When the City Center complex is finished, these will be even more desirable. We have an investor who still owns several and may be interested in selling one. My brother, Craig, is most familiar with Siena Hills - Craig@HarperMees.com
0 votes Thank Flag Link Sat Jun 20, 2009
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