Welcome to the “new” Pacific Union International
Beginning June 1, 2010, Pacific Union International has begun the roll out of our new brand under the direction of new owner, Mark McLaughlin. Mark’s highly successful Morgan Lane Real Estate in Marin County has merged with Pacific Union creating a company of approximately 450 agents through-out the Bay Area. In Mark’s words, “ We’ve created a brand built around the importance of local ownership, the finest professionals, community connections, entrepreneurial drive and an absolute commitment to service excellence.” Be sure to look for the new Pacific Union International “mark” in your neighborhood this week.
We’ve also elevated the commitment of our brand to include our exclusive relationship with Christie’s Great Estates, providing our clients with the international distinction and global reach of the Christie’s brand.
These are exciting times at Pacific Union International. So many good things are in the works, I can’t wait to see what comes next. In the six Bay Area Counties we serve, Pacific Union International enjoys the #1 ranking in average sales price and the #1 ranking for professional productivity. Nationally, we rank among the top 30 brokerage companies. Even so, we’re striving to improve what matters the most – that you continue to place your trust in us – and in me!
My commitment to provide you with the best possible advice for your real estate decisions is stronger than ever. In the weeks to come, I’ll share additional details about our organization and our vision to deliver the best client experience in real estate. Please e-mail, or better yet, call me, with suggestions, ideas or concerns that you want to share.
New Estate Listing in Lafayette
One of Lafayette’s premier estates at 3796 Happy Valley Road, Lafayette, is on the market at $12,000,000. Listed by Mark Solomon of Pacific Union International in my Orinda office, it can be seen by visiting the PacUnion.com website and clicking on Luxury Properties. Designed and built by William Remick, the property consists of a main house with 2 detached buildings totaling approximately 9000 square feet on 2.12 relatively flat acres. Gated and set well back from the road, it’s a lovely estate of with views of the surrounding hills and mature landscaping.
If you’d like to see this or any other properties in your area, please give me a call at 925-381-2211.
This Week’s Broker’s Tour
Every Tuesday I go on the Lamorinda Brokers’ Tour to preview new listings in Lafayette, Moraga and Orinda. I’m diligent about seeing as many new listings as possible between 10 a.m. and 2 p.m. It’s not unusual to see 12 – 15 houses on a Tuesday so tour can be exhausting but it’s also fun; there’s lots of informative chitchat with other agents and we’re often treated to tasty snacks. I always serve good food at the Brokers’ Tour for my new listings because I’ve found that the longer agents spend at the property, the more likely they are to get a real feel for it. And listening to agents talk about the properties on tour that day, what they like, what they don’t, who has potential buyers and what new listings are coming to market is invaluable in helping my clients find their ideal buyer or their new home. The following are a few of the homes I enjoyed seeing today.
Two houses on Reliez Valley Road, past Withers, are worth the drive. 2098 is nicely redone on a very pretty lot with a guest house and is listed at $1,199,000 by Raelene Sprague of Empire Realty. 1995 is a 4 bedroom, 3 bath home with 2707 square feet, beautifully renovated with many designer touches, has lovely gardens and lots of parking. It’s listed at $1,350,000.
40 Orchard Road, Orinda, has classic, older charm. Listed at $1,395,000, it’s on a pretty street, is large for its price range – 5Br, 4 Bth, 3300 SF with a remodeled kitchen www.pacunion.com .
3251 Glenside Drive in Lafayette, listed by Tom Linthicum, Broker, at $1,595,000, is an older, 3 bedrooms, 2 bathroom home on a beautiful lot of 35,250 square feet. It can be used as it is but the lot lends itself to a remodeling project as well.
1100 Rahara in Upper Happy Valley is beautifully landscaped, front and back, with a lovely pool, outdoor kitchen and putting green, with a view of Mt. Diablo and beyond.
Two bank- owned properties, 1033 and 1039 Via Roble in Lafayette are great buys. Listed by Glenn Beaubelle, Coldwell-Banker, they are new construction on large lots and offer great value.
1211 Upper Happy Valley Road, Lafayette, is a treat to visit. It’s a classic, Lafayette hacienda originally built in 1934. Listed @ $4,299,000 Ruth Eddy of Prudential California Realty.
These are only a few of the special homes I saw today. For more complete information, please email me, susan@susanopeterson.com, or better yet, call me at 925-381-2211, and we’ll talk about your housing needs and the market.
Wine Country Estates Meeting
This morning I attended the joint Estates Division meeting of the Pacific Union Napa, Sonoma and St. Helena offices. The meeting was chaired by my fellow Estates Division Director, Maurice Tegelaar and attended by lots of old friends. Market trends and conditions were discussed as well as several exceptional properties.
The good news is that pending sales for homes over $1,000,000 have doubled the first quarter sales in the past 30 days. On the other hand, sales of land remain sluggish. I am trying to note similarities with our Lamorinda market while noting that the primary difference between the two markets is that 80% of the estate properties in the wine country are second homes. Like Lamorinda, however, most of the buyers of wine country property come from the Bay Area, especially San Francisco and Marin County.
Several homes were enticing. I particularly liked hearing about a 2 acre boutique farm in Napa with beautiful, edible gardens surrounding a 3 bedroom farmhouse. Located at 1003 Palomino Way and listed at $1,975,000, and listed by Diane Flyr of Pacific Union, you can take a look at Pacific Union Intl .
It was a pleasure to provide photos and talk about my landmark listing at 3972 Happy Valley Road, in Lafayette. Listed at $5,700,000, this 32 acre estate has been in the same family for over 65 years and is located on the site of the first residence built in Lafayette. Only 30 minutes from San Francisco, near Happy Valley school and close to town, it offers a rare opportunity to own beautiful , estate acreage in a suburban setting. It consists of 2 parcels, has a tennis court, pool, guest house, orchards, extensive gardens as well as a custom-home that could be transformed into a wine country estate without the drive.
From farther afield, we discussed actress Marsh Mason’s Abiqui, New Mexico estate, Rio Abajo Rio, listed at $7,975,000 and represented by our Santa Fe Christie’s Great Estates affiliate, Santa Fe Properties. Formerly featured in Architectural Digest, it is a magnificent property that can be viewed at Marshamasonestate.com .
Contact me if you want to hear more about any of these properties and many others.
Upbeat Housing News
In the San Francisco Chronicle’s business report today, Carolyn Said has an encouraging article about the increase in both sales and home prices throughout the Bay Area in March.
Home sales rise, median prices jump
For specific stats go to March 2010 Statistics from the Contra Costa Association of Realtors.
If you or a friend wants to talk real estate, please give me a call!
Why DO Short Sales Take So Long To Close?
Short Sales take time, averaging from 90-150 days to close escrow, if they do close. Many fall apart at the end of an arduous process in spite of the best efforts of most of the parties involved. Given the number of homes under water in California, recently estimated at 1 in 7, it would seem in the best interest of all concerned to complete Short Sales as quickly as possible to avoid Foreclosures which often result in more significant losses. Aside from the tremendous caseloads the lenders are struggling with, what gets in the way?
Short Sales involve many parties, all of whom are unpredictable variables that remain in place until late in the transaction. The following participants in the process have critical roles to play; all can derail the process, intentionally or through failure to play their role effectively.
The Homeowner
The Lender/Lien Holder
Loss Mitigator
Short Sale Professional: Your Real Estate Agent
Title/Escrow
The Buyer
Even when everyone works effectively toward the successful close of a Short Sale, there may be other factors that surface late in the transaction and that cannot be surmounted. Possible problems include:
Failure to Bridge Gap Between 1st & 2nd Note Holders
Cash Contribution Required By Lender
Mortgage Insurance
Non-Mortgage Liens: IRS, Judgments, HOA
While this may seem daunting, experienced, committed professionals shepherd equally committed homeowners and buyers through this process every day. Short Sales May offer the best solution for homeowners needing debt relief as well as great opportunities for homebuyers and investors.
In future posts, I’ll address each party to the transaction and what it tales from them to close. Next: The Homeowner.
If you or a friend wants to talk real estate, please give me a call!
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Susan O. Peterson 
Full Name Susan O. Peterson Website www.susanopeterson.com Blog www.realestateinlamorinda.com Email susan@susanopeterson.com Phone 925-381-2211 
