Yesterday, we had a guest post from Greg Fielding on Bay Area Case-Shiller tiered data. In case you haven’t been reading any real estate sites ever, a Case-Shiller index tracks home values by comparing sales of the same homes over time. The index is arbitrarily set at 100 at the first quarter of the year 2000, so watch out if you ever see a two-digit C-S index for this or any region. There is also a national C-S index. Monthly updates represent sales from two months previous.
The counties included in the “San Francisco” regional index are the aforementioned City and County of San Francisco, as well as Alameda, Contra Costa, Marin, and San Mateo. That’s right, it’s not a full Bay Area index and note the absence of Santa Clara County, that engine of high-paying job creation.
Today, we take a look at the magical cut-off point to qualify for the top tier. According to Fielding, any house selling for more than $579,803 is in the top tier (there are three of them). Let’s see what kind of palatial abodes you could have for this kind of money. All homes shown today are at selling prices rather than the wishing ones.
2916 SOMBRERO Cir
San Ramon, CA 94583
$585,000, sold on 12/8/2011
If you’re looking in San Ramon, here’s a 3 bedroom, two and a half place for you. It’s not a new house, though, this was built in 1980.
The development it’s in sits hard against the freeway (and there’s only one in San Ramon, I-680), but the property itself does not. Instead it backs onto what is now open space. Given how many new homes went up in San Ramon, the new owner will have some quiet over the back fence until the next bubble starts boiling up.
5205 MANILA Ave
Oakland, CA 94618
$580,000, sold on 12/24/2011
This cute little bungalow is in the Rockridge district, desired by hipsters and yuppies alike. It’s a 2/1, but at over 1200 square feet it doesn’t qualify for the Burbed “cozy” tag.
There’s absolutely no information about previous sales on Redfin, but with a $43,000 assessment, this obviously wasn’t a flip. The sellers went all-out with the staging and photography, so enjoy.
122 Crescent Rd
Corte Madera, CA 94925
$594,000, sold on 12/22/2011
Wow, what a home, complete with extra rooms the county obviously didn’t know about. Listed as a 3/2.5, but recorded as a 2/1. This place hiding in the woods of Marin County against a hill is going to be a contractor’s retirement fund.
Be sure to check out the sales history on this former REO puppy, it’s crap-tastic.
2051 SULLIVAN St
San Mateo, CA 94403
$585,000, sold on 11/30/2011
Everything in this price range in San Mateo is on the east side. “Bunus:” This 3/2’s near the 101/92 cloverleaf, which is why it needs the doublepane windows.
This house sold for $795K in 2006, but at least it went for above asking this time around.
328 Monticello St
San Francisco, CA 94132
$583,000, sold on 10/19/2011
Amazingly, this Merced Heights house doesn’t directly touch walls with its neighbors. And if you decide it isn’t for you, there are plenty of SF State students to rent it to. Anyway, you or your tenants are going to have loads of fun with the tandem parking garage.
The house last changed hands in 1989, for $271K. Quite the investment that doubles its value in 22 years.
We won’t bother with Santa Clara County, as it’s not in the Case-Shiller SF Index anyway. If it were, that top tier would be a bit higher and way more Special.