Tri-Valley Price Cuts: Short Sales, New Construction and a Fixer

construction-sign.jpgI’m intrigued by a brief article in the Tri-Valley Herald today that reports “Livermore to continue pace of development“. Essentially, the Livermore City Council approved the building of “450 new housing units” per year until the year 2010. It sounds quite banal, I know. So why my intrigue? I guess I’m just wondering how cities/counties make decisions about new housing construction in times such as these. With a flattening housing market, new construction seems like it would normally be put on hold or at least reduced.  It sounds as though the majority of the units to be built in Livermore will go up in downtown, perhaps part of their downtown revitalization campaign? If there’s anyone out there who is knowledgeable about Livermore, particularly the workings of civil planning and new construction, I’d love to hear from you! Thanks! In the meantime, check out some of the price cuts around Livermore and Pleasanton below.

Photo Credit: “Traffic Sign” by Sundstrom on stock.xchng

Livermore

870 Keystone
4bd/3ba 1737 SF built in 1965
Short Sale. Previously sold for $629,000 in July 2005. Currently reduced from $649,000 to $610,000.

2113 Rivers Bend Circle 
4bd/3.5ba 3735 SF
Description states: “To be built; Move in time approximately 7 months.”
Hmmm, good luck. It’s not even built yet and it’s been reduced $50,0000 from $1,199,000 to $1,149,000. I’m guessing it will take even steeper cuts given this market.

1026 Lomitas Ave.
3bd/2ba 1728 SF Built in 1971
Short Sale. Previously sold for $642,295. Was listed at $649,900 now priced at $599,000. Sunset East neighborhood.

Pleasanton

1124 Piemonte Dr.  
5bd/5ba 5950 SF Built in 1998.
Short Sale. Previously sold for $2,450,000 in July 2005. Currently just reduced from $2,175,000 to $1,850,000, that’s about a 15% price reduction.

343 Amador Ct.
3bd/1ba 1103 SF Built in 1952.
Fixer. Reduced from $599,000 to $555,000.

2801 Victoria Ridge Ct 
4bd/3ba 4018 SF
Short Sale. Previously sold for $1,100,000. Reduced from $1,219,000 to $1,099,000