Bernard’s Danville Real Estate Blog

Regular readers will know that this is not the first time I have reviewed Faz but times change and my policy is to occasionally revisit restaurants I have previously reviewed, hopefully to confirm that they are maintaining their standards.

Quite apart from all this, I freely admit that Faz has always been one of my favorite restaurants. From my first visit, back in the 1980s when I was here on vacation, I was completely hooked. It wasn’t so much the food that impressed me then, although it was good, but the unique ambience of the place. And amazingly, it is not the tree growing up through the roof of the restaurant that is the most striking feature, but the dining patio - a large, sheltered wood deck at the rear of the restaurant with tall redwood trees growing through it and reaching towards the sky. As owner Faz Poursohi has been quoted as saying, “Anybody who fails to make a success of a restaurant with such surroundings does not deserve to be in the restaurant business”.And so it was that Sylvia and I found ourselves once more, seated outside on the deck on a warm Friday evening towards the end of March.Diners at Faz are presented with a basket of home-made foccacia bread and a middle eastern flat bread together with a small plate of olive oil with parmesan cheese and herbs mixed in. This tastes so good that appetizers seem quite unnecessary, so instead, we ordered a bottle of Frei Brothers Chardonnay to enjoy while we snacked on the breads and waited for our entrees. Frei Brothers really do produce a good Chardonnay.One thing that is perhaps worth mentioning here (and a point that while being a big plus to us, may be frustrating to some) is that service is relaxed at Faz. We like to take our time over a meal and the wait-staff are certainly pleasant and attentive, but don’t come here if you want to be out in an hour. It just isn’t that kind of a restaurant.The menu at Faz is another secret to it’s success. You can dine here very reasonably, on a simple and tasty pizza or pasta, and yet they also offer a good selection of more expensive dishes and there are always daily specials.On this occasion, Sylvia dined from the specials menu, while I ordered from the regular menu, although we both had lamb.Sylvia chose the lamb sirloin (having first ascertained from our waiter that it was a New Zealand Lamb - Sylvia finds American lamb is a little too “gamey” for her taste). This was a generous sized sirloin served with roasted potatoes and a selection of fresh vegetables and the taste and texture was excellent.For my entrée, I had rack of lamb with mint sauce on the side, a dish that has featured on their menu as long as I can remember. This is a dish that I generally avoid in restaurants as although it is generally tasty enough, and the presentation is frequently quite impressive, so often, there is little actual meat there. I do feel somewhat cheated if most of my main course turns out to be a few bones.Not so at Faz. This was not only one of the most generous portions of rack of lamb I have ever been served (really large enough to share), but the flavor was outstanding. This was served with similar accompaniments to Sylvia’s dish.Neither of us were inclined to have a dessert but we were completely satisfied by our meal and happy to know that Faz is maintaining its reputation for good food and good service at reasonable prices. You can find there menus and more on their web site at www.fazrestaurants.com.  

Latest Full Months Statistics for Danville Homes
(including Blackhawk and Diablo)

Previous months figures shown in parentheses	Detached Single Family Homes	Condomiums, Townhomes, others
New Listings	80(92)	22(19)
New Sales Agreed	38(32)	9(10)
Closed Sales	30(14)	8(7)
Median Price - Closed Sales	$791,250 ($961,250)	$504,337 ($515,000)
Average Days on Market - Closed Sales	117(90)	91(54)

At the beginning of April, 2009, there were 286 detached single family homes for sale in Danville (up from 271 in March, 2009) and 64 condos and townhomes etc. against 65 a month ago. So there is around 9 months supply of single family homes in Danville and 6 months supply of condos etc. The supply of condos is still being taken up faster than single family homes, but still, 9 months supply is a lot less than in many parts of Contra Costa County.
     What is of particular note is that the median price of closed sales has fallen significantly for the third straight month. Danville home prices are not as resilient as many thought. The increasing time on the market suggests that sellers may have been trying to sell their homes for unrealistic prices but they eventually given up waiting for higher offers and accepted the reality of the situation.
     So what happens now in Danville? Certainly there are plenty of buyers about but they will still be cautious when they see these figures. Home sellers will need to price their properties very aggressively if they really want to achieve a sale.
     I still think it is a good time to buy in Danville. Interest rates are low and there is a lot of choice. If I was thinking about buying here now, I would make a very careful assessment of real value and base any offers on that, rather than just on the asking price. And there are still bank owned foreclosures that offer particularly good opportunities in many cases.

The California Association of Realtors has launched the C.A.R. Housing Affordability Fund Mortgage Protection Program, for first-time home buyers in California.

Through this Program, first-time home buyers who lose their jobs due to lay-offs could to receive $1,500 per month, for six months, to help make their mortgage payments. A qualified co-buyer can also participate in the program, and receive $750 per month for up to six months.  Program benefits also include coverage for accidental disability and a $10,000 death benefit. 

C.A.R.’s Housing Affordability Fund is dedicating $1 million toward its Mortgage Protection Program, and estimates that as many as 3,000 families will benefit from the program this year. To qualify for the Mortgage Protection Program, applicants must: ·          Be a first-time home buyer – someone who has not owned a home in three          or more years·          Open escrow April 2, 2009, or later, and close on or before Dec. 31, 2009·          Use a California REALTOR® in the transaction·          Purchase the property in California·          Be a W-2 employee (cannot be self-employed) To apply for the program, home buyers must request an application for the H.A.F. Mortgage Protection Program from their REALTOR®.

This is a short video I have just produced to show off some of the sights and homes of Danville, California, the nicest town in the San Francisco East Bay.

More details available at ZIPVO.com.

As of November 1st, 2008, there were 281 detached single family homes for sale (just a few more than 1 month ago) and 59 condos and townhomes etc. (again, little change). This is becoming an established pattern now. Prices in Danville also appear to have stabilized and although the average time on market is higher than we have become accustomed to in recent years, it is really just a little higher than in a true “normal” market. Homes that are priced correctly should sell within four or five weeks. The indications are that we have now passed the bottom of the market in Danville although this is certainly not the case in all parts of the East Bay.

Can Danville support yet another new restaurant? Chow owner Tony Gulisano thinks so and to back up his confidence he has invested a ton of money in converting the old Blockbuster premises on Railroad Avenue into an extremely individual space.

This is the fourth restaurant in the Chow empire, two being located in San Francisco and the third in Lafayette. I know the Lafayette restaurant well and although there is a similarity in menus, the ambience seems very different.For a start, there is much more outside seating in Danville, with lots of outside gas heaters and some firepits. Inside, too there are many differences. Both have fireplaces but Chow Danville seems much bigger and lighter with a rather quirky style of décor. Tony Gulisano says it is in the style of an Amish barn. I think that is a bit of a stretch but it is certainly very appealing.Chow Danville opened a few weeks ago and it seems to have been pretty full from the get-go. Danvillians have embraced this style of smart-casual dining and Chow delivers in spades, being open from breakfast through dinner. There is also a full bar which seems to be just as popular as the rest of the restaurant.Sylvia and I visited on a Thursday evening around 6.30 for an early dinner and the restaurant was almost full both inside and out. We opted to eat inside with a table in the center of the dining area and we immediately noticed what a “buzz” there was. Like many people these days, we much prefer a lively atmosphere to a staid one and that is what you get at Chow. This is probably not the ideal place for a romantic dinner for two.Chow’s philosophy is based on the concept of providing good wholesome food at reasonable prices. They use organic produce and local suppliers where they can.Neither of us wanted an appetizer and the menu has a surprisingly good (and perhaps a little eclectic) selection of fish, pasta, meat and game for main courses. Sylvia chose the steak frites, one of her favorites, and as I am a game enthusiast I went for the squab, not a dish commonly seen on menus in these parts.The steak with the frites was hanger steak and having tasted it, I agreed with Sylvia’s comment that it was full of flavor and cooked to perfection. My squab was equally delicious - pan-roasted to a dark pink color and served with an imaginative selection of sides - braised cabbage, a mélange of diced vegetables, a slice of sweet potato and bruschetta. This was one of the best meals I have had in ages.Having declined an appetizer, we felt justified in sharing a dessert, and although the selection was fairly small it was definitely tantalizing. We decided on a chocolate cake with vanilla ice cream and a bitter chocolate sauce. Although neither of us are great desert eaters, we had to agree that this, again, was superb. The chocolate cake was like a very light chocolate brownie and the chocolate sauce was phenomenal.I predict that Chow will soon become the most popular restaurant in Danville. The service, overseen by manager Tonino Drovandi (who, despite the name, is Scottish, believe it or not) was impeccable - attentive and unobtrusive, and it is really difficult to find anything to fault. We will be back. You can see more about Chow on their web site at www.chowfoodbar.com. 

Picture yourself living in this cozy 1960s character home in a quiet secluded location just above downtown Lafayette. Enjoy the charming ambience created by the well-proportioned rooms with beamed ceilings and gleaming hardwood floors.

This exceptionally well-maintained home has been tastefully updated and remodeled to a high standard and significant improvements include the installation of high quality dual-pane windows, a composition shake roof and a particularly attractive remodeled master bathroom. Outside, there is a large wooden deck at the front of the home, ideal for catching the last rays of the setting sun, and an attractive well-stocked garden at the rear filled with a wide variety of trees and shrubs including oranges, figs, olives and pomegranates. All this together with a completely private seating area and also a sheltered side garden with raised vegetable beds.

Sierra Vista Way is a quiet lane in a country setting, within walking distance of downtown Lafayette with its wide range of restaurants and shopping facilities to meet your everyday needs.

Freeway access is only minutes away and it is generally accepted that Lafayette schools are among the best in Contra Costa County.

1149 Sierra Vista Way, Lafayette, California

Offered For Sale at $817,500

2444 Camino De Jugar, San Ramon

The Very Best of Twin Creeks View

Twin Creeks is one of San Ramon’s most popular neighborhoods and Twin Creeks View is the “Jewel In The Crown” of Twin Creeks. Homes here have significantly more appeal than those in the rest of Twin Creeks, most of them being situated on much larger lots, with 3-car garages and with secluded yards offering a high level of privacy.

This single storey floor plan is one of the most popular in the area, and this particular home has had countless improvements made in recent years including a comprehensive kitchen remodel, which now features granite countertops over maple shaker-style cabinetry, inset lighting and high quality stainless steel appliances. The bathrooms have all been remodeled to a high standard, and the master bath has a large frameless walk-in shower with designer ceramic tile. The windows have been replaced with high efficiency dual-pane units and paneled doors have replaced the original ones.

Outside, the home is set in an elevated position behind a beautifully landscaped front garden with a lawn and a variety of well-established plants and shrubs. A wide driveway leading to a 3-car garage and there is also additional parking to the left hand side. At the rear is an expansive, completely private yard with large concrete patio and a lawn that is bordered by a wide variety of plants, shrubs and trees.

Homes of this quality are rarely offered for sale in Twin Creeks View and this is an outstanding opportunity for a discerning buyer to acquire a home that is absolutely move-in ready in one of San Ramon’s most desirable neighborhoods.

Twin Creeks is one of San Ramon’s most popular neighborhoods and benefits from excellent schools and easy access to shopping, restaurants, local parks, the freeway network and Bishop Ranch office park.

Offered For Sale at $920,000

Call Bernard Gibbons on (925) 997-1585 for more details or to arrrange a private showing

316 Cindy Court, San Ramon

There are many homes for sale in San Ramon at present at this point in time but few have the combined location, condition, general appeal and price as this attractive 3 bedroom 2 bath 1980s rancher.

316 Cindy Court is situated on a large flat lot on a quiet court in San Ramon’s popular Town & Country neighborhood. Light, bright and airy, it has a great floor plan with good-sized roooms including formal living and dining rooms and a family room with a feature brick fireplace.

The home is set in attractive lawned gardens with many established trees and shrubs. The back yard is particularly attractive and secluded with a sparkling pool and covered patio area for outside entertaining.

This is one of San Ramon’s most convenient locations, being in easy reach of all grades of school, freeways, shopping and Bishop Ranch office park.

Offered For Sale at only $595,000

Call Bernard Gibbons on (925) 997-1585 for more details or to arrrange a private showing.

Many parts of the Bay Area, and in particular, the San Ramon Valley and Lamorinda, historically do much better than much of the country when real estate appreciation is considered.

Unfortunately, because prices increased so much and so quickly, they had further to fall and the resulting impact was devastating for many. Recently, however, the rate of decrease has slowed significantly in our area, and this is despite the negative effect on home values caused by many short sales and bank owned foreclosures that have been dumped on the market.

Evidence of Improvement

The economists tend to look at real estate on a national level and one figure they give a lot of credence to as a meaningful indicator is the “Pending Home Sales Index”. Last month this rose 5.3% nationwide, which is a significant amount. More importantly, it rose in every region of the country.

Now note that this is an index that considers numbers of transactions, not total value of transactions.

You Can’t Expect To Buy At The Bottom

What can be inferred from these numbers is that buyers now believe that home prices are not likely to fall much further, so they have the confidence to write offers and buy homes. Of course there will always be some buyers who are planning to “buy at the bottom” but the only problem with that strategy is that you can only identify “The Bottom” after you have passed it and prices are on the increase.

Possible Improvements In The Market

It will surely soon be apparent to most buyers and sellers that prices are really so close to the bottom that it makes no difference and as buyers become more active, this will encourage more potential sellers to list their homes for sale. The likely effect is that there will continue to be a wide choice of homes to buy for the next few months but as we approach the Holiday season, many of the sellers who have not been successful in agreeing a sale will take their homes off the market. From Thanksgiving onward, it is quite possible that there will be a shortage of homes to buy. The wild card in this reasoning is that we don’t know how many people will be forced to sell their homes or have them foreclosed. These are not discretionary activities and a sudden increase of numbers of homes for sale will certainly keep prices down.

What Will The New Year Bring?

As we enter 2009, I foresee that there will be many buyers who are poised to take action. If the majority of those sellers who took their homes off the market in late 2008 decide to re-list them for sale in January, the balance between buyers and sellers should be at a reasonable equilibrium and we can expect to see stable home prices throughout the year. If, on the other hand, sellers do not take such immediate action, and there are more buyers than homes available (a situation I have seen on numerous occasions at the start of a year), home prices are likely to rise. This is simply the economics of supply and demand.

Note that my thoughts only relate directly to the affluent San Ramon Valley and Lamorinda here. In other areas, not too far distant, there will continue to be a glut of homes on the market for some time to come because the numbers are already so astronomical. In these areas prices will stay low and may even decline further with more foreclosures etc.