Green Valley: Eastridge home values?

Asked by A2, Benicia, CA Mon Oct 4, 2010

Are there any agents who specialize in Green Valley area of Fairfield - Eastridge gated community in particular here? Can you advise regarding Eastridge home prices and latest trends?

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6
Scott Loney…, Agent, Fairfield, CA
Sun Jun 7, 2015
I held the original office open in Eastridge when the development started in early 1990's. Mark Leclare, Wayne Greer, Debene Group, Jackson Homes, and then Loren Kelly(Premier Design Homes) and the Hoffemann Group started building Custom Spec homes. The Lots on the inside of Springridge and inside of Eastridge were selling to these builders for the Low $100,000.'s and the Outside Lots with views of Green Valley went for the high $180,000+ depending on the view and size of the lot. Prices gradually increased from 1992 all the way through to the 2007 peak. In the early 2000's a decade later the next phase of Eastridge opened up and much bigger homes on even bigger parcels and those lots starting selling in the mid $250,000.00 Dollar range just for the Land. Premier Homes built several homes that were $1.3 Million dollars and up. I know this because I sold these homes back in 2002,2004,2006 and I even sold one of those custom homes for over $2 Million Dollars. Eastridge suffered price depreciation just like the rest of the Country did from the calamity of poorly written Loans, 5 year ARMs in 2003 and then the lenders preached that they had even a better product in 2005 called the 3 year ARM. It was inevitable that the market was going to suffer some repercussions from these poorly written Loan products. A large majority of buyers from 2003 to 2006 purchased homes with this loan product. When 2008 came around all of those buyers or borrowers were told that the banks would not refinance them into a different product as there interest Rates started to increase. We have have come full circle in this Market and my Partner and I Alicia Maginnis have recently placed a home in Contract for very close to the $1.5 Million dollar price range. I think that it is fair to say that the Market has made a come back and we are nearly back to the Peak prices of 7 to 8 years ago. With interest Rates at an all time low and people buying with fixed rates and not Adjustable Rate Mortgages the Market in Eastridge should stay very stable for the next several years to come.
0 votes
BayAreaHomeR…, Agent, Vallejo, CA
Tue Oct 19, 2010
I just looked at the MLS inventory and here are some active listings for sale in Eastridge.

5322 Laurel Ridge @ $499K is a 6 bed / 7.5 bath, 6000sqft, its an unfinished property but is designed for an indoor pool, all bedrooms are suites, 4 car garage and game room. This might be something you maybe interested in, depending on the cost to complete the home.

5246 Deer Ridge @ $639K is a 5 bed / 3.5 Bath, 4,272 sqft. Its a new listing ( 5 days), built in 2003.

You can view more listings by clicking the link below. You can also email me direct at punjani@mygpsagent.com for further info.

Thanks,

Sameer

http://norcalmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Bar…
0 votes
BayAreaHomeR…, Agent, Vallejo, CA
Tue Oct 19, 2010
I think there will be some further price declines in the homes purchased at peak pricing (06-07) levels. However, there is a lot of money on the sideline, as consumer confidence gets stronger, buyers will jump back in.

Interest rates will rise over time, which will cost you more to finance.

Please let me know if you need anything further.

Thanks

Sameer
Web Reference:  http://www.mygpsagent.com
0 votes
A2, Home Buyer, Benicia, CA
Tue Oct 19, 2010
Just looked at the latest numbers, and there are houses for sale (over 4,000 sf) for less than 900K in Eastridge. They used to be well over a million (more like 2 million) in many cases. That is a decline of over 60% in some cases, and the numbers change from month to month.

Do you predict the prices to fall even further in Eastridge?
0 votes
Less than a handful sold for over 2 Million, but most did sell for close to 1 million to 1.5 Million Dollar range. I would say that the Market has made a come back and high end homes are selling again.
Flag Sun Jun 7, 2015
BayAreaHomeR…, Agent, Vallejo, CA
Tue Oct 5, 2010
Hello, my name is Sameer Punjani. I'm a local real estate broker with offices in the Fairfield area on North Texas Street.

Here is a link to active / pending / sold properties in the Eastridge area.

http://norcalmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Bar…

Homes selling under the $700K range have been in higher demand. Homes in the $1M range and higher take much longer to sell.

Here are some stats for the area as well.

http://norcalmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Bar…

Please let me know if I can be of any assistance to you on buying or selling.

Thank you,

Sameer Punjani
Broker / Owner
mygpsagent.com
Web Reference:  http://www.mygpsagent.com
0 votes
Dianne Langs…, Agent, Fairfield, CA
Tue Oct 5, 2010
Eastridge values are trending upward due to demand. Value decline in the area of the past 36 month has made the homes very attractive, and affordable to the professional buyer in particular.
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