Deal or No Deal RESULTS: Walnut Creek on the Cheap
Tuesday, July 28th, 2009Cirios Verdict: DEAL (Click here for the original Deal or No Deal post)
The subject is a well-maintained home in an established neighborhood in Walnut Creek, CA. The majority of the landscaping was recently put in and gives the home very good curb appeal. The interior could use some updating but it should be considered in livable condition.
Walnut Creek is an upper middle class city in the east bay. Schools are above average and it is a short commute to numerous job centers. Walnut Creek has become a very popular place to live as it has many of the amenities you find in Marin and the peninsula but houses are significantly cheaper. Distressed activity remains low compared to other part of the Bay Area, but some surrounding areas like Concord and Antioch have been hard hit by foreclosures.
Positives: Good curb appeal, limited supply
Negatives: Could use some updates
Verdict: DEAL
There is nothing listed in the subject’s immediate neighborhood. As a result, this property is in high demand and went pending within a couple of days from when we posted it on www.ciriosre.com. Homes in desirable areas like Walnut Creek which are listed below the FHA loan limit are selling very fast. It is hard to imagine homes like the subject experiencing material declines in the near term due to strong buyer demand and the relative lack of supply.
Address: 630 Sitka Dr., Walnut Creek, CA 95498
List Date: 6/19/2009
Current List Price: $649,950
Cirios Value: $650,000
List Price vs. Cirios Value: Well-listed.
For a complete Cirios Valuation, click here for our CLEAR report, or on the image to the right.
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