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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Invitation to See a Few Good Homes in America’s #3 Friendliest Place to Live
May 30th, 2008 Categories: Davis CA Real Estate, Davis Fun to Do, Davis Schools, Davis Schools Foundation, RE Week in Review, Real Estate News
Sunday June 8, 1-4 pm, Start at 764 Elmwood Drive…
My amazingly energetic client and friend Joy Klineberg had a great idea - a walking home tour of a few homes on some of our favorite Davis streets. The people of Davis have given hugely this spring to the Davis Schools Foundation and we made national news for saving 20 teacher’s jobs, so it feels like an unwelcome tug to ask once again. However, some of the important smaller organizations are struggling for funding that has been redirected to the Schools Foundation. Joy is raising money to help the coffers of the Davis School Arts Foundation , and Ciana Wallace and I are sponsoring her. Hope you can come out for a funky Davis-style tour! Call (530.574.0596) or email (jamiebmadison@msn.com) if you have questions.
In case you missed it, the Today Show had a segment this week on the 5 Friendliest places in the US to live….yup, Davis came in number 3!
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Do You Know Why? 2007 vs 2008 in Regional Cities
May 27th, 2008 Categories: Davis CA Real Estate, Davis RE Trends, RE Week in Review, Real Estate News
Following are notes on the performance of two groups of cities for March 27 - May 27th in 2007 and 2008. These cities are all within a 50 mile radius. Can you guess why the vivid differences in the two groups?
Group 1 / # of homes sold 2007 2008
North Highlands 33 97 +194%
Elk Grove 259 570 + 97%
Rancho Cordova 70 138 +97%
West Sacramento 47 88 +87%
Natomas 213 372 +75%
Woodland 72 91 +26%
Group 2 / # of homes sold 2007 2008
Davis 98 64 -35%
Folsom 171 132 -23%
Auburn 81 66 -19%
Granite Bay 43 36 -16%
East Sacramento 179 180 —-
Yes, of course you have it. The cities who have increased in the number of homes sold are those who had the most bank-owned properties. Investors have recognized a good thing and swooped in to take advantage of homes whose prices have dropped well below the cost it would take to build them… -Jamie Madison
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Rare Visit to the Glide Ranch
May 21st, 2008 Categories: Amusement, Davis CA Real Estate, Davis Fun to Do, Davis Nature, Local Food, Photo Tours
This past sweltering Sunday afternoon the Ag Futures Alliance held “First Flavors” a fund raiser/tasting event at the famed Glide Ranch just west of Davis. (Sponsored in part by the Howard and Nancy Shapiro Foundation.)
Though my home is on property adjacent to the south side of the ranch and I have driven by its entrance for over 20 years, never have I actually seen this amazingly gorgeous place. Hills, swails and natural canals that transverse the ranch are unusual for this area. The main house - a classic grand valley home over 100 years old and recently restored - sits in the middle of the property surrounded by rose gardens, expansive lawns and palm trees. If you were dropped there and someone removed your blindfold, you would probably not guess that you were in Davis, but you would know that you were somewhere magical.
I will write more about the wonderful trust created by the Glides for the protection of animals, wildlife and agriculture of Yolo County in a future post, but for now, enjoy a few pictures I snapped at Sunday’s event.
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