Contra Costa, California Real Estate

2010 Real Estate Market Summary for Clayton, California, 94517

Clayton, California is a wonderful community located at the base of Mt. Diablo, 9 miles east of Walnut Creek, a 35 minute ride on BART to San Francisco and a 41 mile drive to the beautiful wine country of Napa. 

I invite you to view the virtual tour of Clayton, California.

144 Clayton, CA homes sold in 2010;

Of the total homes sold, 113 were detached homes:
Highest sold price = $1,650,000
Average sold price = $593,403
Lowest sold price = $340,000

There are currently 41 detached homes for sale.

Of the total homes sold, 31 were attached homes (duets, townhomes, condos):
Highest sold price = $490,000
Average sold price = $434,808
Lowest sold price = $255,900

There are currently 10 attached homes for sale. 

I invite you to view the summary of sold Clayton real estate by subdivision.

Search Clayton Open Houses

Thank you Janet for a concise summary of the overlapping tax credits....

Clayton home sales are similar to Walnut Creek in that sales have exceeded new inventory for several weeks, putting an upward pressure on pricing.

Detached Homes:

There are 40 Active listings of detached homes for sale in Clayton, of which 3 are short sales and 4 are bank-owned.

The highest list price is $3,000,000
The average list price is $870,731 with the median list price at $687,000 (this is the mid-point of the market at which half of the listings are higher than this and half are lower)
The lowest list price is $450,000

There are currently 21 Pending transactions, of which 6 are short sales and 2 are bank-owned.

There were 9 closed transactions in March, 2010, of which 3 were short sales and 1 was bank owned.

The highest sold price was $700,000
The average sold price was $554,333 with the median sold price at $535,000
The lowest sold price was $375,000

Condos and Townhomes:

There are currently 9 Active listings of condos and townhomes for sale, of which 2 are short sales and 2 are bank-owned.

The highest list price is $520,000
The average list price is $425,205 with the median list price at $399,950
The lowest list price is $349,900

There are currently 8 Pending transactions, of which 4 are short sales and 1 is bank-owned.

There were 3 closed transactions in March, 2010, of which 0 were short sales and 0 were bank-owned.

The highest sold price was $400,000
The average sold price was $381,333 with the median sold price at $379,000
The lowest sold price was $365,000

I noticed that someone typed a Google search that asked "Where is Clayton, California?"  Since I live in Clayton, California - and believe wholeheartedly that it is the BEST place imaginable - I am going to answer that question.

Clayton California is located in Contra Costa county of northern California.  Contra Costa and Alameda counties are commonly referred to as "East Bay" because it is across the Bay from San Francisco.  If fact, if you start in San Francisco, you would take Bay Area Rapid Transit (BART) for 36 minutes to the city of Walnut Creek.  From Walnut Creek, drive 7 miles east to Clayton.  For a good visual, check out this Google Map.

Clayton is the perfect place to live.  Although only a stone's throw from major metropolitan areas, it is a community-oriented city surrounded by beautiful hills, well-planned open spaces, located at the base of Mt. Diablo State Park, and comes with a huge bonus - the lowest crime rate in the nine Bay Area counties. 

In addition to that (as if it wasn't enough), Clayton received Walking Magazine's award as one of the five Most Walkable Cities in America and made CNN Money's 2009 list of the Top 100 Places to Live.

If you need a few demographics to be convinced, I will supply them. Depending on the source, the average Clayton income ranges from $108,000 to $121,200 and greater than 50% of the residents have an Associates, Bachelors or Graduate degree.  Over 82% of the of homes in Clayton are family (non-single) occupied. 

Clayton is a paradox.  It's close to the city and is the home of professionals but feels like the best of a small town.  There is something about Clayton that pulls you to participate in the community. While other small cities are struggling with the state's drain on municipal dollars, Clayton's volunteers and civic groups remain a great resource. 

Think you might want to move to Clayton?  Give me a call or send me an e-mail to schedule a tour.  Too far away for the personal touch?  Take a visual tour of Clayton.

One inspection that home buyers often choose to waive - and shouldn't - is the Sewer Lateral Inspection. 

Why is a Sewer Lateral Inspection important?  A homeowner is responsible for the maintenance of the sewer lateral (the sewer line) from their home to the sewer main at the center of the street.  This can be a very expensive repair.

The sewer lines in many Contra Costa County cities (including Alamo, Concord, Clayton, Lafayette, Martinez, Moraga, Orinda, Pleasant Hill and Walnut Creek) are made of clay and are reaching the end of their intended useful life.  Some additional problems include:

Clay pipes are not sealed at the joints allowing the tree and bush roots to infiltrate the line and block the flow of the sewer pipe. The photo to the left shows a sewer that is more than 60% blocked with roots.

A healthy tree growing over the sewer line is likely getting the richest of fertilizer!

In many cases, drought conditions have contracted the ground surrounding the sewer pipe causing it to break or collapse, shown in the photo to the right.

Photos provided courtesy of PipeCam Inc. whose inspection process includes a video of the entire sewer lateral and a supporting written report.  They are "In The Know About What's Below".

Here are some common reasons to inspect the sewer line during your inspection contingency timeframe:

1. The home was built on or before the early 1970's
2. Mature trees or bushes in front or on the side of the property
3. Cracked or raised concrete
4. The home has been vacant for a period of time
5. The buyers have a greater number of occupants than currently occupy the home or will entertain large groups at their home.
6. The seller has disclosed past sewer problems or maintenance
7. $250 is cheap compared to a surprise sewer repair!

Additional items to review during your inspection contingency timeframe:

• Habitat Sensitivity Area

• Homeowners Association Documents
  

Real Estate Market Update for Clayton, California. 

Active Listings

Number of Active Listings = 30

The Average List Price is $795,216 with the Median List Price (mid-point) at $649,750

This week's market activity by Quartile:

In Contract and Pending

Number of sales pending = 29

The Average List Price is $529,427 with the Median List Price (mid-point) at $479,000
      Note:  Sold prices are not disclosed until the transactions are closed

For additional details, please visit my interactive real estate trend chart for Clayton.

I have received dozens of phone calls from California home owners as a result of my post Clarification Regarding California Non-Recourse mortgages.

Based on these phone conversations, I have come to the conclusion that there is a very frightening trend:  real estate professionals (both loan officers and real estate agents) are offering advice based on "real estate urban legends" i.e. information that has been passed from person to person and is treated FACT but is completely unsubstantiated. 

Three examples of these calls are:

A homeowner has lost 60% of the value on his investment property which has negative cash flow.  The mortgages (a 1st and 2nd) were refinanced so they are no longer non-recourse.  He doesn't have a hardship situation.  His loan officer told him to to stop making the payments and let the home go to foreclosure to get out from under the mortgage debt.  Urban legend advice.  Foreclosure will release him from the obligation to repay on the 1st mortgage only (assumed to be the foreclosing lender) but the 2nd lienholder will have the right to collect a whopping $180k for up to four years - and they are pursuing these collections.

A homeowner with a valid hardship is selling his home as a short-sale.  The home had been refinanced multiple times with some level of cash-out each time.  His real estate agent told him not to worry about income taxes on the deficiency because "there is a federal law that says he doesn't have to pay".  Again, urban legend advice.  The Mortgage Forgiveness Debt Relief Act very clearly states that income taxes don't have to be paid on the "acquisition indebtedness" for a primary home.  Income taxes DO have to be paid for the unpaid balance above the original purchase mortgage.  In this case, the amount of phantom income will be over $250k.

Another homeowner with a short-sale.  The approval clearly states that the 2nd lienholder retains their right to collect the balance due.  The real estate agent told him not to worry about it.  If the lender tries to collect, he can always file bankruptcy.  Urban legend advice.  In California, you must pass a "means test" to file a Chapter 7 bankruptcy if you earn in excess of approx. $75k per year.  Most people will not pass the means test without their mortgage and will be forced in to a Chapter 13 bankruptcy (repayment plan).

To be treated as professionals, we must act as professionals.  Due dilligence and research on the information we offer as fact should be the bare minimum standard of conduct.  Equally important, clients making these crucial decisions should be emphatically urged to consult with the appropriate legal and tax professionals or the financial repurcussions could be devasting.

Wendy Cutrufelli
Your Real Estate Advocate

As a proud Clayton, California resident and a Realtor, I am pleased to announce the new Clayton community website:  EverythingClayton.com

This website was designed as a centralized internet site to bring all of the community resources together:

• Community calendar of events
• Clayton Business pages
• Clayton Groups, Clubs and Recreation
• Local phone numbers
• Volunteer opportunities
• Clayton Schools
• Links to Clayton government and services
• Clayton real estate

If you are from out of the area and would like to view a visual tour of our wonderful Clayton community, click here.

Events in The Grove park and Downtown

Saturday, June 6:    
     Farmers Market, 8:00 a.m - noon

Saturday, June 13:  
     Farmers Market, 8:00 a.m. - noon
     Concert In The Grove, 6:00 p.m. - 8:00 p.m.
          Mamaluke:  Classic Rock Dance Band
          This is a FREE community concert!

Saturday, June 20: 
     Farmers Market, 8:00 a.m. - noon

Saturday, June 27: 
     Farmers Market, 8:00 a.m. - noon
     Concert In The Grove, 6:00 p.m. - 8:00 p.m.
          The Sun Kings:  Beatles songs
          This is a FREE community concert!

Events at the Clayton Community Library

Monday, June 8 (through August 17):
     Summer Reading Program

Thursday, June 11, 11:00 - 12:00 p.m.:
     Z-Man's Paper Airplane Workshop
      Ages 6 and up, please sign up in advance

Thursday, June 18:
     Father's Day Stories and Crafts
     Ages 3 - 8, please sign up in advance

Thursday, June 25, 11:00 a.m. (through August 13):
     Picture Book Time! Ages 3 - 5 years
     Child may attend without caregiver

Saturday, June 27

     Tip a Cop Fundraiser to benefit
       Special Olympics!

      Location:  Ed's Mudville Grill

City of Clayon Events

Tuesday, June 2, 7:00 - 10:00:
     City Council meeting, Clayton Community Library

Tuesday, June 9, 7:00 - 10:00:
     Planning Commission meeting, Clayton
     Community Library

Tuesday, June 16, 7:00 - 10:00:
     City Council meeting, Clayton Community Library

Friday, June 19 - Monday, June 22:
     Fourth of July Parade Entries are due! 
     The Parade Entry Forms must be postmarked
     by June 19th or faxed by June 22nd.

 Tuesday, June 23, 7:00 - 10:00:
     Planning Commission meeting, Clayton
     Community Library

Clayton, California is a small but wonderful city located just 7.5 miles east of Walnut Creek.  Please enjoy this visual tour of Clayton which also includes several additional community links.