TOPS! Madison/Merrell do it again…
July 12th, 2008 Categories: Davis CA Real Estate, Davis RE Trends, RE Week in Review, Real Estate News, Realtor Tales, Selling
For the second quarter this year, the team of Jamie Madison and Kim Merrell are in the number one and number two positions respectively for total sales volume at Coldwell Banker, and Jamie Madison continues reign as the top agent in Yolo County. Why is this so?
- We have the honor of working with truly remarkable clients!
- Hard work every day
- The attention to detail of our wonderful assistant Sharon Pannell
- Sensitivity to the new opportunities that come with a changing market
- Sensitivity to the uncertainty that our buyers and sellers feel
- Working for Doug Arnold and Dave Taormino - two brokers who give good agents the support and the freedom to do their job well
- Working with buyers and sellers in a very special town where people sense they can capture the feeling of community most of us long for…
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Davis Real Estate Update: Hot June in an Off Year
July 12th, 2008 Categories: Davis CA Real Estate, Davis RE Trends, RE Week in Review, Real Estate News
Sweltering! Not just the weather, but sales. Around the our office files are stacked high as we finish processing 131 sides for June and a large stack for July too. Little by little inventory is coming back, but we are severly lacking in good homes in the $650k - $800k range. At the moment there are 119 single family homes in Davis available for sale and 51 homes in pending status. Let’s look at what has happened so far:
Davis Second Quarter Sales 2007 vs 2008
2007 2008
Number of homes sold 198 158 -24%
Median price $526k $490k -7%
Average price $568k $526k -7.5%
Days on Market 50 52
2008 Sales By Month
Sides Average Price
January 24 $597k
February 28 $486k
March 44 $582k
April 62 $524k
May 96 $496k
June 158 $548k
Woodland Second Quarter Sales 2007 vs 2008
2007 2008
Number of homes sold 97 135 +39%
Median price $360k $266k -26%
Average price $389k $270k -31%
Days on Market 87 59
Sacramento Area Pre-foreclosures in June
Pre-foreclosure - the owner has stopped making payments and the bank has stepped in to sell the property, also known as a short sale
Davis 4
Dixon 25
Folsom 49
Woodland 56
Rocklin 60
Napa 66
West Sac 86
Vacaville 97
Roseville 123
Elk Grove over 400
What is a “side”? Each home sale is comprised of 2 sides - the seller side and the buyer side, which may be represented by different agencies. Brokers often look at sides to get a more accurate picture of how they are competing in their market place.
Want to learn more? Call Jamie Madison at 530.574.0596 and ask away!
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My Favorite House in Davis
June 27th, 2008 Categories: Davis CA Real Estate, Davis RE Trends, Photo Tours, RE Week in Review, Real Estate News, Selling
Parkside Drive is one block from UCD - a small U-shaped street with about 45 homes in the center of town that is sometimes referred to as part of ”old professor row” - a quality of neighborhood we don’t have enough of. Unpretentious and nostalgically heartwarming, each home has a different design and character and is somewhere in the continuum between “original state” and “gorgeously remodeled”.
At the later end of that contiuum is 40 Parkside. This home was torn down to just one wall and rebuilt on the original footprint about 7 years ago by Steve Sherman. It is calm, restful home for those of us whose children have flown the coop. The house is small but open, spacious and perfectly elegant for having friends for dinner inside or out. Every detail is crafted with taste and thought. The wide plank hickory floors were distressed by hand on site. The dining room has the perfect dimensions to embody space and coziness. Best of all is the cottage! In the large back yard there is a 600+ sq ft cottage that has a fireplace, living room, kitchen with old wedgewood stove, bedroom and bath, and a large southfacing wall of windows. When we originally went to see the house, my husband and I had a rare fight about who would get to have the cottage.
This house has been “curated” by Susanne and Simon Dryer these past few years - they have enhanced the garden, colors, and the feel of the house even warmer. It is now on the market. If the time in our lives were right, we would be moving to Parkside where I would not only relish this home, but also would be thrilled to be part of the eclectic neighborhood. Alas, not the right time for us. Some lucky person will have the rare opportunity to live in graceful elegance in the center of our sweet town…
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Davis Homes Sell: June Surge
June 25th, 2008 Categories: Davis CA Real Estate, Davis RE Trends, RE Week in Review, Real Estate News
Remember that spike in escrows we talked about in April? It is now showing up as closed sales - the charts are shooting up - and we are poised to have our best month in 22 months! Consider what Davis sales look like for 2008:
First 18 weeks of 2008
Number of homes sold: 79
Revenue from homes sold: $86m
Last 8 weeks of 2008 (May/June)
Number of homes sold: 101
Revenue from homes sold: $105m
Number of pendings: 80
We are having 10 - 15 new listings come on the market each week now, so the inventory is being replaced. Prices are somewhat lower than 2007 and there have been a few amazing bargains (a nice home at 3221 Lillard just went into escrow - 1601 sq ft/ 3/2 home on large lot in great shape listed at a whopping $425,000).
Call me - Jamie Madison - at 530.574.0596 if you would like to learn more.
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1st Annual Central Davis Walking Tour Great Success!
June 12th, 2008 Categories: Amusement, Davis CA Real Estate, Davis Fun to Do, Davis Schools, Davis Schools Foundation
THANKS to all who came out to see 10 central Davis homes on our walking tour last Sunday. I was worried that people were tired of being asked for donations, that the weather would be too hot, but apparently you wanted it! The tour was a big draw and we were able to raise $2230 to donate to the Davis School Arts Foundation.
10 families were very generous to open their very interesting homes, and at least one of the families who declined the opportunity called right after the walk to heartily volunteer their home for next year. We had a request to include Old Willowbank next year, and that is the plan.
This would not have been possible without the relentless persistence and hard work of Joy Klineberg. I am taking bets that Joy will be Davis Person of the Year within the next 3 years. She has taken our town by storm! Thanks, Joy.
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Peaks and Valleys : Davis Real Estate June 2008
June 10th, 2008 Categories: Davis CA Real Estate, Davis RE Trends, RE Week in Review, Real Estate News
The spring market happened in one sharp spike late April/early May and then flatlined again with a mere 2 month supply of homes on the market, leaving all of us to wonder where the rest of the year will go.
Year to Date
142 Sold
86 Pending
166 Available
7 Short Sale
0 Foreclosures
Month of May 2007 vs May 2008
# SOLD 65 45 -11%
Days/Market 55 47
Price sq ft 333.5 319.4
Avg Price 558,881 486,676 -13%
% list/sale 99.06% 98.1%
Four Year Glance (to May 31)
2005 2006 2007 2008
# sides 518 372 444 254
Avg price 579k 589k 558k 526k
Days/market 9 48 68 68
$ volume 300.3m 219m 248m 133m
Move to Davis from New York or Los Gatos and you will be in the drivers seat IF you find a house you love. Move from eastern Idaho or Indiana and you better brace yourself to come to terms with the half-million, charm-free older home in Davis. (Davis DOES have its compensations, however!) Who is buying and selling? Here are profiles of a few of my clients:
1. Empty nesters trade their central Davis Streng for a new Centex home in Woodland.
2. Executive moving from the East Coast could not find the right family home, but they found a large home to rent for a year while they look.
3. Family selling a 3 bedroom West Davis halfplex as they depart for new jobs in the East.
4. New faculty member buys her first condo!
5. Family moving from Napa to Davis for the schools find a gorgeous large home.
6. Family moving from Ruby Ranch (Pleasanton) to find a less materialistic way of life and good schools find a gorgeous large home after a one year search.
7. Retired couple relocating from Grass Valley to find a more interesting life continue to search for an interesting and affordable home.
8. Young family decides to stay in Davis instead of returning to NY - find a pleasant small home to fix up in South Davis.
9. Woman who grew up in Davis returns from Marin County with her family and finds a nice home in Village Homes after a several month search.
The market is slower but I continue to help individuals, couples and families continue to make happy home transitions here in Davis. - Jamie Madison
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