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Price Gone Up 34 Percent at Terraces at Dublin Ranch

As of 12/15/2012 – On a rainy Saturday when I was working on my emails, my phone rang and it was one of my clients.  “Kent, I wish I had not backed out MonteFrio deal at Terraces last year!”  The transaction was a short sale and went back and forth for more than 6 months and finally he decided to purchase another property in Dublin Ranch.   terraces pool at Dublin Ranch It was then sold at $265,000, 2-bed 2.5-bath condo by Toll Brothers built in 2004, 2-level, nicely upgraded, with resort style amenities and great access to freeway, restaurants, shops and BART.  A year later, now the same model  is selling for $401,000, a whopping 51% jump!  Market has gone up, and it has shifted from a distressed market to a regular or temporary investor-flip market as we approach 2013, at least that’s what I see for Terraces Community at Dublin Ranch at East side of Dublin…

Here is a summary report comparing 2011 Q4 sales with 2012 Q4 (till 12/15/2012).   Median price has gone up 34%, price range of a year ago was at $250,000 to $290,000, now it has jumped up to $415,000.  The price increase percentage ranges from 31% to 51%, and notice a year ago 100% were short sales, and now 80% of them are regular sales, and average day on market is now 13-day versus 24-day back in 2011.

Terraces at Dublin Ranch Price Comparison

2011Q4 2012Q4 – as12/15/2012 Increase PCT
total Sold 10 9
total ShortSale 10 2
Median Sold Price $276,888 $369,888 34%
Corrida – 1066sf $250,000 $345,000 38%
SanSebastian – 1124sf $278,888 $365,000 31%
MonteFrio – 1298sf+ $265,000 $401,000 51%
Arona – 3bed model $290,000 $415,000 43%
Data as of 12/15/2012

What Now?

As I have worked with many clients and investors in Dublin Ranch, I’d suggest current buyers being cautious and calm.  Some investors would be expected to flip those properties in the next 6 months and price hopefully will get stabilized after that wave.  Patience is a virtue, as they say…  No matter what you do, one thing is for sure, the bottom is over, if you are in for the long haul (as traditional real estate investment should be), you will be rewarded in the long run…


Mortgage Interest at Historic LOW

Now is Perfect Time to BUY

Contact Kent Here

 

 

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