March 13, 2015 American Canyon Update

Inventory throughout the Napa Valley continues to be tight, but there does appear to be some loosening in the market over the last week.  27 homes on tour in Napa on Friday and four new homes on the market in American Canyon.  The median home list price is currently at $504,000 for the city which bodes well for the spring selling season as we start to see more and more homes on the upper end of the American Canyon market start to pop up.

New Homes

• 163 Via Bellagio @ $439,900 – 3 beds, 2 bath, 1849± sf
• 422 Kensington Way @ $469,000 – 4 beds, 3 bath, 2796± sf
• 102 Tapestry Lane @ $535,000 – 4 beds, 3 bath, 2445± sf
• 14 Marcello Ct @ $549,000 – 4 beds, 3 bath, 2864± sf

Open Houses

• 163 Via Bellagio, Sat & Sun, 10am – 2pm
• 422 Kensington Way, Sat & Sun, 10am – 4pm
• 15 Truman Ct, Sat., 12 – 3pm
• 32 Bethany Dr, Sun, 12 – 2pm
• 14 Marcello Ct, Sat. & Sun, 12 – 4:30pm
• 102 Tapestry Ln, Sun, 12 – 4:30pm

Just Solds

• 220 W Carolyn Dr @ $315,000 (represented buyer)
• 210 Knightsbridge Way @ $389,000
• 40 Castellina Cir @ $493,000

And We’re Off!

Happy New Year, Everybody!

The returns are still coming in for last year in Napa County (in general) and American Canyon (in particular) but it was another strong year price-wise, although the number of units dropped dramatically in American Canyon year-over-year.  In 2013, 198 units were sold in the City, compared to 136 homes sold in 2014 which is an approximately 30% drop in home sales.  However, the median sales price in American Canyon rose 11.2% to ~$409,000 in 2014.

It was an odd sales year for American Canyon. First, as this chart above shows, beginning in January and continuing through April (and most of May as well) there was a severe shortage of homes on the market in the City. This lack of inventory caused housing prices to surge heading into summer (particularly in regular sales).

As housing prices started to increase, a wave of homes crept back into the market.  The number of homes for sale jumped from four in April to 12 in June and July and continued to increase from there.  One statistic that had a lot of realtors concerned about the city was the amount of sales versus the number of homes on the market throughout late summer heading into November.  The number of homes sold dropped each month from July (11) to October (7).  There was a rebound in November although the median sales price held relatively constant from September through November.

Overall, the American Canyon market appears to be on solid footing.  There is a healthy cross-section of inventory currently on the market. Homes are still coming onto the market and are still being sold even in December (traditionally a very slow time for Real Estate). Most economists believe that housing prices will continue to increase by 5-7% this year which should be good news for homeowners.

I, for one, am looking forward to seeing what the housing market brings to my city over the coming year.  It should be very interesting indeed!

10/3/14 – AmCan Market Update

Preliminary sold numbers show a slight retreat year-over-year, but overall the American Canyon housing market is relatively strong and stable, particularly for those 1st time home buyers.  The number of sales dropped by almost 50% year-over-year with a similar – but lesser decline in median price sold. There has been speculation that the earthquake has had a dampening effect on the market; coupled with an ever increasingly earlier start time for school and then a typical leveling out of the market, this is almost to be expected.  In fact, it may even be healthy for the market in the long term since these double digit price increases were untenable for any great length of time.

With interest rates still low (and not expected to rise until after 1Q), it’s a great time to buy in the city. Currently there are 26 homes on the market at a median list price of $485,400. In particular, we had the opportunity to see 417 Knightsbridge Way a couple of weeks ago.  I almost can’t tell you what the home looks like inside because the backyard is absolutely stunning because of it’s size. This is listed by Henny Gho with Eagle Vines at $459,000. It backs up to open space and so the backyard feels even larger than it is.

This home was sold this past June, renovated and is now being flipped. Updated kitchen, hardwood floors throughout; the home has a newer roof. 4 beds, 4 baths at approx. 2000 sf. Light and airy, I loved having the chance to see this home.  Much like yesterday’s tour, this home had a uniqueness that is often missing in the AC.  Contact me if you are interested in previewing it.

(707) 853-0797 or richard.peterson@pacunion.com

 

7/28/14 – AmCan Real Estate Roundup

There was an actual tour in American Canyon last Friday which was nice to see.  4 homes, one of which is already off the market. Nevertheless, the AmCan market is continuing to perk up after a relatively dreadful 1st Quarter. There are currently 18 homes on the market, including 4 new homes over the weekend: 3 Tyler Ct. (listed by Judy Davis w/ JD Real Estate @ $310,000); 114 Elke Dr (listed by Ben Bailey w/ Coldwell Banker @ $430,000); 88 Peacock Cir (listed by Cori Badertscher w/ Eagle Vines @ $570,000); and 6 Via Bellagio (lsited by Michael Boucher w/ Coldwel Banker @ $599,000).  All 4 homes are spread throughout American Canyon providing a good mix of housing.

At the moment, my favorite home in American Canyon is still on the market: 266 Brixton, listed by Susan Koide w/ Coldwell Banker @ $475,000. The home was an REO and is a flip. The investors did an absolutely remarkable job of updating the home, completely redoing the kitchen, bathrooms, new carpets, re-sodding the back yard, updating the front yard. They also pulled up the carpets in the front entry way and living room, putting in a laminate that looks like hardwood floors.  It may be priced a little high for the area, but it’s at least worth a look as well as a peak at any disclosures that may be attached to the property.

With Napa Valley Unified starting up again in just about 2 weeks, look for an increase in sales activity within Napa County as families try to move in so that they can get their kids into the schools on time.

May 2014 Real Estate Update

Pacific Union released its May 2014 Real Estate Update this morning. As expected, median prices rose over May 2013. In Napa County, inventory dropped while median sales price rose 21% year over year to $575,000. Average days on market was 71 which is down by almost a month year-over-year.

In American Canyon, there were 16 recorded sales for the month down 1 from last year. Median sales price rose approximately 19% year-over-year with average days on market also decreasing by about 1 month, year-over-year. The market in South County appears to be heating up again which is good for buyers and sellers alike.

4/4/14 – AmCan Napa Tour Update

Great couple of days for touring in Napa and AmCan.  There were a few homes on the Napa Brokers Tour yesterday that really stood out:

• 60 Hoffman Ave – I absolutely fell in love with this home! Listed by Kelli Marchbanks with Coldwell Banker @ $399,000. 2 Bed,1 bath home @ 864± sqft. Massive yard with an artist studio and/or office – it has electricity running to it. Both the front and back yards are landscaped. The inside is light and airy with hardwood floors, and the kitchen has a gas range with breakfast nook. Close to Oxbow. It’s available to show from 2-6pm today (Friday) or there is a Public Open House on Sunday from 2-4pm.
• 441 Monroe St – I hate using the word charming, but it’s difficult to describe it any other way. Listed by David Hobaugh, also with Coldwell Banker for $429,000. 2 beds, 1 bath, 1,016± sqft. This home is ready for you to move in. Hardwood floors throughout. Quintessential downtown Napa home built in 1948, just a short walk to Fuller Park. This home is also open on Sunday from 1-3pm.
• 2952 Pinewood Dr – Single level, Browns Valley home! Listed by Melanie & Michael Mutters with Bradley Real Estate @ $550,000. This house feels much bigger than the 3 bed, 2 bath, 1600± sqft that it says in the tax record. Home is on a corner lot with updates throughout; has an open floor plan making it great for entertaining. This home shows really well and is open tomorrow (Saturday) from 3 – 5pm.

Today was tour day in American Canyon, and with tight inventory, it was good to see that there were 3 homes available to be shown today:

• 103 Reed Dr – listed by Kip Clark with Chatoff Properties @ $289000; 3 bed, 1 bath, 1024± sqft. Great location, close to shopping and Hwy 29. Perfect starter and/or investment property. It looks like there will be an open house this Saturday from 1-3pm.
• 26 Pelleria – Listed by Henny Gho with Eagle Vines @ $549,000; 5 bed, 3 bath, 2746± sqft. This is a short sale. This is in the Via Bellagio area. Close to the High School. Large home with open floor plan. Expansive back yard with lots of potential. Highlight has to be a wrap-around, walk-in closet.
• 98 Oakstone Way – Also Listed by Henny with Eagle Vines @ $579,000; 5 bed, 3 bath, 3003± sqft. Without a doubt, this my favorite home on the American Canyon tour today. It has a covered entry, office in the front to the left as you walk in. Open floor plan, wonderful backyard for entertaining complete with a built-in, wood burning fireplace that can moonlight as an over…or is it the other way around?? Sweeping master suite with jacuzzi tub. Around the corner from Silver Oak park, simply a gorgeous home.  I’m hearing that there will be an Open House this Saturday, but I have not been able to confirm that. This home is really worth the look.

As ever, if you are interested in seeing any of these homes just give me a call (707.853.0797). Most (but not all) of the homes need 24 hour notice.

Rich

CalBRE# 01931815

Am Can Market Update – 3/21

3…3 homes on the market in American Canyon as of 10:30am, March 21.  3 homes…

• 549 Canyon Meadows @ $369,900, exclusively listed by Elizabeth Tageson over at Coldwell Banker in Benicia. I haven’t had a chance to see it yet, but great location. The home is 4 beds, 2 baths and approx. 1800sf. Offers were due this past Wednesday, so it’ll be interesting to see when it comes off…and if anything will replace it!
• 30 Palestrina Ct @ $462,000, exclusively listed by Bill Davidson with Tree House Real Estate Solutions. 4 beds, 3 baths at @ approx. 2900sf this home is a steal! It’s safe to assume that this home will generate multiple offers and I would expect it to go higher. It’s open both days this weekend from 1-4pm and offers are expected to be reviewed by COB on Monday, March 24.
• 186 Spikerush Cir @ $520,000, exclusively listed by fellow American Canyon Lion Cori Badertscher with Eagle Vines Realty. She had it on tour today so I did get a chance to take a look around.  Davidon built, this single-story, 3 bed, 2 bath home is approx. 2500sf. It has a massive bonus room in the front which could easily be converted into a 4th bedroom. It sits on the corner of Spikerush and Wetlands Edge and has a tremendous view of the wetlands and sunset to the West.  She’s holding the home open this Sunday from 1-4pm.

If you are interested in viewing any of these properties give me a call and I’d be happy to set up a showing: 707.853.0797. If you live in American Canyon and you’re sitting on the fence of whether or not to sell your home, the paucity of active homes are making this a true seller’s market.

1/12/14 Am Can Update

There feels like a stepped-up increase in the American Canyon market over the last week, although that feeling isn’t necessarily born out by the number of properties available in town. There are still only 10 active listings in the area, but there are three new listings – 401 Rio del Mar @ $305,000 (MLS# 21400336; listed by Laurie Nesci),  229 Folland Drive @ $325,000 (MLS# 21400610; listed by Abby Tanem) and 36 Palazzo Way @ $430,000 (MLS# 21400456; short sale; listed by Melanie Ross & Jenny Castaneda).

I had a chance to stop by 401 Rio del Mar today and another property, 358 Los Altos (MLS# 21326731, offered @ $329,000; listed by Patricia Catabay). 358 Los Altos recently had a price drop of about $20,000.  I like both homes a lot.  They’re both within a block or two from Community Park I and close to an elementary school, the middle school and the Parks & Recreation Department where the community gym and swimming pools are.

401 Rio del Mar has quite a few upgrades, including a recently remodeled kitchen with Corian counters and upgraded cabinets and hardwood floors.  It is 3 beds, 2 baths, approx. 1100 sf on a corner lot.  It has a sun room just off the kitchen in the back and a decent size yard. A fireplace and central heating makes this a cozy home.

358 Los Altos is also a 3 bed, 2 bath home, although it has almost 1500 sf.  It too has a sun room just off the kitchen with a pool in the back yard.  Also sitting on a corner lot there is ample room to expand the footprint of the yard (although you’d want to check with the City to make sure that’s OK). This property has a fireplace, central heating and a ton of hand crafted finishes throughout…including a wine storage cabinet in the front hall.  Very much your own Napa Valley Home.

Both homes are vacant, easy to show and – according to the MLS remarks – are move-in ready! Shoot me an email (richard.peterson@pacunion.com) or give me a call (707.853.0797) if you’re interested in either of these homes.  Or you can visit my revamped website to search for a different property in Napa or Solano Counties.

American Canyon November 2013 Update

Home sales in American Canyon dropped from 24 in 2012 to only 11 in November, 2013. Although seemingly ominous news, it might not be quite as bad as it seems at first glance. Of the 24 homes sold in 2012, only 7 of those were regular sales – meaning they were not short sales, REO’s, in foreclosure, etc. Conversely, only 3 of the 11 homes sold last month were distressed. This signals a positive shift in the American Canyon real estate market. As more non-distressed homes continue to enter the market the more we will see market stabilize and have home prices continue to rise. Below is a quick snapshot of the difference in Sales Price between November 2102 and 2013.

As you can see, the average home sales price increased almost 25% year-over-year. Average days on market is about 75. The high sales price in 2012 was $410,000 whereas the highest sales price last month was $599,000 (one of the last model Vintage Ranch homes).

There are currently 10 homes on the market right now in American Canyon including one of my favorite Vintage Ranch floor plans. 107 Tapestry (MLS# 21325659), listed by Cynthia Wise with Creative Property Services @ $464,900. This home is 2518± sq ft with 4 bedrooms and 3 full baths. It’s located in a great neighborhood, just a few blocks from Shenandoah Park and the police and fire station.

A well thought out, open floor plan with the kitchen opening up into the dining area and the family room with fireplace. There is a guest/in-law retreat downstairs that is complete with full bath. A winding staircase leads upstairs to the master suite, a huge loft and 2 additional bedrooms.

 

American Canyon Active Home Update

As has frequently been the case over the past several months, there is not a lot of inventory in American Canyon at the moment. As of this morning, there were only 10 active listings. I have seen quite a few of them, but took some time out this afternoon to view some of the newer ones. My last stop of the day was 561 Cattail Dr., over by Kimberly Park, off of Marshcreek. Despite driving up to a flock of crows, I was wowed by this home. It far exceeded my expectations.

Cattail is exclusively listed by Monica Cline with Coldwell Banker – Brokers of the Valley @ $399k. The marketing flier describes it as a “spacious beauty” and I found it light and airy, despite the looming likelihood of rain. Large front family room with high ceilings, this 2 story home feels warm and comfortable. It has a small dining nook that looks out onto a pergola in the back. Very cute and spacious backyard with a dog run along the side. Oversized garage, 5 bed, 3 bath, +/- 2700 sq ft. This home is literally 2 blocks from the park and has easy access to Hwy 29. It’s vacant and easy to show.