What is the most expensive zip code in CA?

If you had to guess which California city has the most expensive real estate, what would you say? San Francisco, maybe? Certain parts of Los Angeles – remember the show 90210?
Watkins-Cartan House, 98 Alejandra Ave., Atherton, CA
Nope, the honor goes to the 94027 zip code – Atherton, CA. For those not familiar, Atherton is right above Palo Alto and the average cost of a home there is…wait for it…$6.17 million. According to Zillow, home values in Atherton reached a low point in summer 2009, dipping below $3 million.
I asked my friend Jay Vorhees of JVM Lending what kind of average income would be necessary to afford a home in Atherton at 25 percent and 50 percent down.
Given that the average income in Atherton is about $250,000, I was wondering how exactly a median home price of $6.17 million was affordable there! Here’s his assessment:
Assuming no consumer debt, a 4.0% rate and a 42% debt ratio, with 25% down, PITI would be about $29,000 per month (rounded). This would require $69,000 of monthly income or $828,000 annually.
With 50% down, PITI would be about $22,000 per month (rounded). This would require about $52,500 of monthly income or $630,000 annually.
So how does the average income earner in that area afford Atherton? Most likely people have had these homes for years, thus the lower income. For new purchases, stock options from IPOs are not usually included in your annual income, thus allowing the the nouveau riche of Silicon Valley to buy with cash or put 50% or more down.

Brewery madness in the Bay!

I occasionally like a good beer and love trying new brews, especially with all the microbreweries popping up around the Bay Area. We had our annual Parkmead Community Associate block party this past Saturday and Adam, one of our Board members, was adamant about getting a keg of quality beer. He was given a budget and the task of ordering it. He got a beer called Simtra, a triple IPA by Knee Deep Brewery in CA with 11.25% alcohol. Apparently, there are folks who are very serious about their beer. This blog is for you.

We’ve blogged about Farm Creek Brewing and Calicraft in the past, and they remain standouts in Walnut Creek. There is also no shortage of amazing breweries in San Francisco, where the craft beer scene is unmatched in Northern California. Check out this list of lesser-known places to try next time you’re craving a beer in the city.

In the intro of that article, they mention my writer’s favorite local brewery, 21st Amendment. They recently built a massive new brewery and factory in San Leandro.

Of course, Oakland is also stocked full of good spots to check out the beer scene. Oakland Brewing Company, Faction, and Golden Gate Brewing come to mind, but I’ve heard great things about all the little breweries popping up in Oakland!

If you’re into beer, you’ll want to try as many of these cool places as possible. Start here in Walnut Creek and then move West from there. Make sure you take Lyft, and give a shout-out to your favorites!

Open House at 10 Stugun Ct. (Pleasant Hill) today and tomorrow!

Are you a family with kids looking for a new Bay Area home? Check out this spacious Valhalla North property, located walking distance from Valhalla Elementary!

It’s situated on a cozy court and has a massive, naturally-shaded hillside deck with a perfect view of Mt. Diablo. This home will adapt to changing needs – whether you have a small, growing family or one that spans multiple generations. The five bedrooms and three bathrooms will do the trick.

Downstairs, you have one large bedroom with a full bath that can serve as a master suite. Add to that newer stamped concrete, recessed lighting, plantation shutters, updated baths and ample storage, and you’ve got a winner here in Pleasant Hill.

You can check out a virtual tour of the home here.

Come swing by our Open House at 10 Stugun Court in Pleasant Hill from 1-4 p.m. both today (Saturday, 8/26) and tomorrow!

 

Join us this Saturday for the Dewing Park Pool Party!

Parkmead neighbors: come join us for our annual pool block party at Dewing Park this Saturday! We’ll be grilling burgers and dogs from 11-3 and the pool will be open to all.

Also, Adam (one of our board members) really wanted a keg of quality beer for the adults. So, he was given a budget and tasked with ordering: he decided on a triple IPA by Knee Deep Brewery called Simtra.

You don’t want to miss out on this Parkmead Community Association block party. The burgers, dogs, sunshine, 11.25% beer music by Funky Jams from Las Lomas and cool pool will be well worth your time on a hot day, temperatures are forcasted to be 95 degrees.

Living in the neighborhood all these years, I can attest to the close-knit community that is only grown through events like this. It is a great way to get to know your neighbors and be part of your community.

Check out some fun photos from years past:

 

Trail running in the Bay Area

This past Sunday, tons of people showed up at Joaquin Miller Park in Oakland to voluntarily run. For fun. At 7:00 a.m. on a weekend.

Coastal Trail Runs
Courtesy CoastalTrailRuns.com.

I don’t know why, but running for fun seems to be a thing here in the Bay Area. Give me an hour walking my dog or a light jog for exercise purposes all day, but full-on running for enjoyment? Yikes.

Anyway, as someone who passes along lifestyle options in the East Bay, I feel obligated to stop joking around and share this awfully cool organization with you! It’s called Coastal Trail Runs, and they just hosted the aforementioned Cinderella Run in Oakland.

There was a marathon, half-marathon, kids run, 5-mile run, and more. On Sunday, August 27th, they will be hosting another one on Mt. Diablo. This will consist of similar distances, and like most of the Coastal Trail Runs events, will get each runner a t-shirt and medal, and award the fastest finishers in each gender and age group separately.

forest person trail running recreation jogging race sports endurance mountain biking physical exercise outdoor recreation human action endurance sports ultramarathon duathlon cross country running cross country cycling

The Coastal Trail Runs group’s mission is to share trail running around the coast of California, and many of their events take place in the Bay Area. Though unaffiliated, their organization also brings to mind The Dipsea Run in Mill Valley that traverses the popular hiking trail to Stinson Beach.

Coastal Trail Runs organized more than 400 races in the past 16 years, and according to their website, about 25 percent of runners in a given race are first-timers. And they do have options for flatter, slower runs called “Zoom” and “Zombie.”

Almost makes me want to give running for fun a shot! Almost…

Tax returns and your loan approval!

Our friend Jay Vorhees at JVM Lending came up with another relatable blog recently: Tax Transcripts and 4506-T forms. It generally explains how those forms work, and reminded me of an experience of my own. First, a summary of Jay’s blog:

Every time a lender gets a loan from a borrower, they also have to get the last two years of tax returns. This is why borrowers sign IRS Form 4506-T as part of their disclosures. It formally authorizes lenders to request tax transcripts, which then show the filer’s status and income information.

Lenders are required to request transcripts from the IRS before a borrower can (borrowers can only request them directly if the IRS reject’s a lender’s request). If there is a minor error between the 4506-T and the tax return, this rejection may occur, so it happens pretty often.

That covers the basics of how the 4506-T form works and the role it plays in a real estate transaction. It’s a more subtle part of the process, but can cause huge headaches when done incorrectly. Take, for example, my experience with a property at Madeira in Pleasant Hill last year.

I represented the seller, and the buyer had their lender in Oakland, with a Bank out of L.A. Unbeknownst to us, the bank was being bought out and the new bank was called Bank of Hope – yes, really. But it turned out to be the Bank of Hopelessness.

Abode, Advertising, Banking, Building, Buy, Buyer

Processes changed, the lender in Oakland was let go and nobody knew what they were doing. Communication was terrible. One of the balls that got dropped was getting the tax returns. We closed almost two weeks late and the only way this ended up closing at all is by the processor who I had been speaking with regarding other issues. They actually went down to the IRS office and got the tax returns. She went beyond what is required (and probably got tired of our phone calls), but my seller is an attorney and also made multiple phone calls as they had already purchased a new home that was about to close.

This is one of the best reasons to get fully underwritten before you start to write offers. If all the documentation is in upfront, there won’t be any surprises or delays once you get into contract. Selecting the right lender can be the difference between smooth sailing and dark nightmares.

Broadway Plaza summer concert series kicks off tonight!

If you’re looking for a good activity to get out of the house this evening, I have good news for you. The Broadway Plaza summer concert series is back in downtown Walnut Creek!

Image result for outdoor concert guitarist

Tonight, from 6:30-8:30 p.m., marks the first in a series of shows played at Event Plaza. If you like what you hear and see, you can go again on any Thursday in August.

First up tonight is SuperHuey, followed by The Purple Ones on August 10th, and Fleetwood Mask (that’s “Mask,” before you get too excited…) on August 17th. Festivities include the music, vendors, shopping, and more.

It’s a perfect family outing for people of all ages. Bring a blanket or chair and a few dollars for a glass of wine, and enjoy the summer air with your fellow East Bay music lovers!’s

Note:  with the new development, the events plaza is in front of Macy’s and I find the area not that welcoming to large crowds.  it gets really tight with limited seating, so many people are just standing around.  If you are there to shop, you will find yourself in tight quarters and a swarm of people.  Personally I miss the old parking lot space.

Time for this summer to get in-tents!

Hah, get it? It’s officially summer in the Bay Area (if you couldn’t tell by the triple-digit heat…), which means it’s time for you to plan some fun camping trips!

Luckily, we live in one of the most serene, nature-filled parts of the country and dozens of great campgrounds are just a short drive away. That brings me to this list of local campgrounds provided by Placer Title Company.

Some you’ve probably heard of, some you haven’t, but either way you can’t beat the Northern California summer. Some of my favorite areas are Tahoe (of course) and the Redwoods.

On this list, I can’t recommend the Tahoe State Recreation Area, Big Basin or Tuolumne Meadows (Yosemite, so get reservations like…yesterday!) enough. I’ve also found that Desolation Wilderness near Tahoe is an amazing, remote spot for hike-in camping.

If you have kids, Angel Island is a simple ferry ride (also fun for the kiddos!) and close enough to home that you can do an easy one-nighter. Obviously, if you want to be extremely close to home in the East Bay, hit up Mt. Diablo. They have pretty great campgrounds and almost every single one has a great view of the entire East Bay.

I love camping, whether it be in a car or a tent, in the warm NorCal summers. Check out that list, pack your car, and take a weekend off to enjoy the beautiful outdoors. Our natural surroundings are some of the best parts about living in California, so take advantage of it soon!

4040 Siino Ave, listed with views of Mt. Diablo.

Tired of renting? Looking for a place to store all your toys? Welcome home to 4040 Siino Avenue in Concord!

This 2-bedroom, 1-bathroom, 1,102-square foot home on a nearly quarter-acre (.23 acres) lot, has refinished hardwood floors, an updated bathroom and gorgeous, cozy bedrooms.

Relax on the covered patio, take in a beautiful view of Mt. Diablo and enjoy a perfect getaway that you get to call home. It’s situated on a quiet street, has a large detached garage with three bays and an extra spot for a boat or RV, and even a separate area for a kennel and dog run.

Everything you could ever want, all in the heart of the East Bay. And it’s offered at just $470,000 right now! We’ll have this awesome home available for viewing at our Open House on Sunday, June 25th from 1-4 p.m. Come stop by!