Manteca Retail Thriving

City after city in California experienced significant drops in taxable sales — often in the double digits — in July, August, and September of this year compared to the same period in 2008.

It was the same in San Joaquin County with one big exception – Manteca.
While taxable sales in neighboring cities such as Stockton plunged 18.6 percent and in Tracy 9.8 percent they shot up 7.6 percent in Manteca.

It happened despite Mervyn’s going out of business and two new car dealers closing – Manteca Dodge and Sexton Chevrolet – as well as other vehicle sales dropping off significantly.

How did it happen?

Five words: Bass Pro Shops and Costco.

Bass Pro Shops, which has already attracted more than 2 million visitors this year, is drawing in money from a 100-mile radius. Costco essentially stopped a major bleed of Manteca consumer dollars to the warehouse chain’s stores in Modesto and Tracy and has also pulled customers in from neighboring cities as well.

Bass Pro Shops and Costco were two highly criticized deals made possible by a limited sales tax sharing plan pieced together by the City Council under the leadership of Mayor Willie Weatherford.

“We were fortunate to have a council that understood the importance of changing the way we did business in Manteca and to rely on something else besides property taxes.” Weatherford said.

As for those who believe the deals with big mistakes and would only reduce municipal sales tax receipts, Weatherford said, “the numbers don’t lie.”

Bass Pro Shops and Costco aren’t the only success stories along the Highway 120 Bypass. Both Kohl’s as well as Ross Dress for Less are exceeding sales projections for their Manteca stores.

The strong retail market has allowed Kitchell – the developers of Stadium Retail Center – to secure a major fabric retailer to fill the space vacated by Circuit City. That store is expected to open by the second quarter. They have also obtained another major national clothing retailer that will also open in the coming months.

Meanwhile, work is underway on the Lifestyle Outlets at Manteca that will open sometime in mid-2010 between Bass Pro Shops and JC Penney. The outlets, coupled with Bass Pro Shops and the 16-screen Kerasotes Showplace Theatre, are expected to provide Manteca with a major jump in taxable retail sales.

Manteca also aggressively took steps to retain B.R. Funsten – one of the city’s top 10 generators of taxable sales through its showroom at its flooring products distribution center in the Manteca Industrial Park. After working with the city and getting an expedited approval and construction process, B.R. Funsten abandoned plans to move to Stockton and expanded instead in Manteca to retain 120 jobs plus the sales tax receipts.

Manteca’s 7.6 percent increase of taxable sales contrasts with California as a whole that saw a 14.8 percent drop in the third quarter compared to the same time period in 2008.

Manteca is also faring significantly better than the rest of the state and county when it comes to taxable sales in the first two quarters of the current fiscal year compared to the same time last fiscal year.

Manteca’s sales tax after six months came to $3,810,985 compared to $3,856,595 for the previous year. While that $45,610 decline in tax sales is a 2.1 percent drop it was much better than the statewide drop of 17.8 percent. It also was much better than anywhere in San Joaquin County with the next best performing city – Tracy – coming in with a 17.6 percent drop.
Ripon taxable sales for the partial fiscal year comparison dropped 39.9 percent, Escalon 29.4 percent, Lathrop 29.1 percent, Lodi 21.3 percent, and Stockton 20 percent.

In full year comparisons using the third quarter as the final quarter Manteca dropped 2.2 percent. Again, the state was such worse dropping 15.7 percent. San Joaquin County saw Ripon drop 38.7 percent, Escalon 30.9 percent, Tracy 19.2 percent, Lodi 20.2 percent, Stockton 16.6 percent, and Lathrop 16.2 percent.

Sales taxes are critical for cities as they represent one of the top two sources of revenue to operate the general fund. Property tax is the other.

If the trend holds and property valuation remains relatively close to what it was on Jan. 1, 2009 Manteca’s projected deficit for the fiscal year starting July 1 could be less than $1 million. That assumes the state doesn’t take any more money.

By Dennis Wyatt
Managing Editor
dwyatt@mantecabulletin.com
209-249-3532

Record housing sales for Manteca?

New, existing sales may soar past 1,400 for 2009

Manteca is 27 days away from setting two housing market records – one for the most homes sold overall and the other for the most previously owned homes closing escrow.

There were 1,116 existing homes that have sold so far in 2009 as of Tuesday. Based on the sales pace of the last five weeks, at least 80 of the 201 pending sales should close by year’s end to bring completed transactions close to 1,200 homes.

That will top the record of 1,165 existing home sold in 2008.

Add the 220-plus new homes that are expected to have sold in Manteca by year’s end and Manteca will have experienced just over 1,400 overall home sales in 2009 – another housing mark.

Even though resale transactions will top 2008 levels, the overall dollar amount won’t. Although just 49 fewer homes have been sold in 2009 with three weeks to go compared to all of 2008, there is a huge gap in combined dollar value. Resale transactions were at $262,125,000 in 2008 compared to $185,690,000 to date this year. That reflects the nearly $50,000 difference in the median selling price between the two years with 2009 coming in at $175,350 per home so far and $225,000 in 2008. New home sales in 2008 are expected to hit $77,000,000.

Early indications are that the median price will start going up in 2010. That’s based on 201 pending sales with a median pending price of $192,900 or $27,550 higher than the 2009 median selling price to date.

Experts, though, caution that doesn’t mean prices are rising across the board. It does mean that buyers are now purchasing larger and newer homes that were going largely untouched as buyers scrambled to snap up lower priced properties.

When that happens, it brings up the median price.

By Dennis Wyatt
Managing Editor
dwyatt@mantecabulletin.com
209-249-3532

POSTED Dec. 4, 2009

Tax Credits at a Glance

$8,000 First-time Home Buyer Tax Credit at a Glance

• The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
• The tax credit does not have to be repaid.
• The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
• The tax credit applies only to homes priced at $800,000 or less.
• The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
• For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.
• For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

The $6,500 Move-Up / Repeat Home Buyer Tax Credit at a Glance

• To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
• The tax credit does not have to be repaid.
• The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.
• The tax credit applies only to homes priced at $800,000 or less.
• The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies provided it is completed by June 30, 2010.
• Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

*Click Here for more information regarding Federal Tax Credits.

U.S. Economy: Home Prices Increase by Most Since 2005

Sept. 29 (Bloomberg) -- Home values in 20 U.S. cities climbed in July by the most in almost four years, helping stem the record plunge in household wealth that’s depressed spending.

The S&P/Case-Shiller home-price index rose 1.2 percent in July from the prior month, the biggest gain since October 2005, the group said today in New York. Another report showed consumer confidence unexpectedly fell in September, while holding above the record low reached earlier this year.

Home values are rebounding as low borrowing costs and government tax credits lift home sales. Combined with rising stock prices, the gains will begin to restore the $13 trillion plunge in net worth caused by the worst financial crisis since the Great Depression, a process that economists such as Brian Bethune say will take years to complete.

Home prices are “a major, major turning point for the economy,” said Bethune, chief financial economist at IHS Global Insight in Lexington, Massachusetts. “We are eating away at the problem of household balance sheets.”

The New York-based Conference Board’s consumer confidence index fell to 53.1 in September from 54.5 the prior month, the private research group said today, amid growing concern over the lack of jobs. The gauge sank to 25.3 in February, the lowest level in data going back to 1967.

The Standard & Poor’s 500 Index dropped after the confidence report, erasing earlier gains, and closed down 0.2 percent at 1,060.61 in New York. The yield on the benchmark 10- year Treasury note was little changed at 5:15 p.m. in New York from 3.28 percent late yesterday.

Decline Slows

From a year earlier, the S&P/Case Shiller index was down 13.3 percent, less than economists anticipated and the smallest decrease in 17 months.

The measure was forecast to fall 14.2 percent, according to the median projection of 36 economists surveyed by Bloomberg News. Estimates ranged from declines of 12.5 percent to 15 percent. It was down 15.4 percent in the 12 months ended in June.

Compared with the prior month, 17 of the 20 cities covered showed an increase, led by a 3.1 percent jump in Minneapolis and a 2.9 percent increase in San Francisco. Las Vegas suffered the biggest one-month decrease at 1.9 percent.

Sales Rising

Combined sales of new and existing homes have risen for four out of the last five months, signaling the worst of the housing crisis is over.

The Obama administration’s $8,000 tax credit for first- time buyers, which is due to expire at the end of November, combined with lower prices as foreclosures soared, have helped lift sales this year. The National Association of Realtors and the National Association of Home Builders have lobbied to extend the credit on concern demand will wane after it lapses.

Karl Case, co-creator of the S&P/Case-Shiller index, said the U.S. residential property market is improving enough to end the tax credit for first-time buyers.

“We’ve got to phase back incentives and this may be a good time to do that,” Case said in an interview on Bloomberg Radio. “I believe in some cities you’ll see the beginning of recovery.”

Pending Profit

Lennar Corp., the third-largest U.S. homebuilder, is among companies that see demand improving, even as losses mount. The Miami-based company said last week it expects to turn a profit in fiscal 2010.

“In the third quarter we started to see some real signs that the housing market is in fact starting to stabilize,” Stuart Miller, Lennar’s chief executive officer, said on a Sept. 21 conference call. “The sense that now is the time to buy is starting to gain momentum.”

The Conference Board’s confidence gauge was projected to increase to 57, according to the median estimate of economists surveyed by Bloomberg News.

The decline was caused by growing pessimism over jobs. The share of consumers who said jobs are plentiful fell to 3.4 percent this month from 4.3 percent. The proportion of people who said jobs are hard to get increased to 47 percent from 44.3 percent.

“It’s a little hard for households to look at their paychecks, or the lack thereof, and feel more confident,” Ellen Zentner, a senior economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, said in a Bloomberg Television interview. Even so, “we should continue to see consumer confidence turn around,” because the recession is over and hiring eventually will rebound, she said.

Fewer Job Losses

The pace of job losses is easing as the economy shows signs of accelerating. Payrolls fell by 216,000 in August, the smallest decline in a year, according to the Labor Department. Employers probably cut another 180,000 workers this month, economists project a Labor Department report later this week will show.

Economists say the Conference Board’s index tends to be more influenced by attitudes about the labor market.

Confidence may improve in future months as balance sheets rebound. Net worth for households and non-profit groups climbed by $2 trillion in the second quarter, marking the first gain since the third quarter of 2007, according to figures from the Federal Reserve.

Fed policy makers last week said they would keep the benchmark lending rate near zero “for an extended period,” and noted that sluggish income growth and tight credit are curbing household spending and slowing the pace of the economic recovery.

To contact the reporter on this story: Bob Willis in Washington at bwillis@bloomberg.net; Shobhana Chandra in Washington at schandra1@bloomberg.net

Summer Savings Are Here...

With the hot days of summer, comes the Summer Savings event from Atherton Homes. Purchase a new home at Manteca's premier new home community, The Summit Collection at Union Ranch, and receive a $ 10,000 incentive towards your purchase.
Select one of Atherton Homes preferred lenders from Academy Mortgage to finance your loan and receive another $10,000 incentive towards your purchase or towards closing costs.
Also, after a very successful Design Seminar, Atherton Homes continues its collaboration with Pottery Barn by offering a $1,000 Pottery Barn gift card with the purchase of a new home before the end of July. Upgrade to an Atherton Home today.

For more information please visit our Sales Office located at:

2517 Edgebrook Lane
Manteca, CA 95336

or contact us at (209) 824-2071.

Style, luxury powering Summit sales

Atherton lures discriminating home buyers

By DENNIS WYATT
Managing editor of the
Manteca (Calif.) Bulletin

Amidst the gloom and doom Atherton Homes is selling a steady number of homes in the Summit Collection at Union Ranch.

In recent months there have been 10 closings, 13 homes enter escrow and one lot reserved. It’s not the go-go pace at the start of the decade but it is a surprisingly strong pace for today’s market.

How are they doing it?

The answer is simple – affordable style that has a definite feel of luxury plus four single-story floor plans ranging from 2,128 square feet to 3,011 square feet.

The buyers they are appealing to include a number of discriminating ones – they’re folks who plan to make this their “final” home.

“We’ve gotten a number of buyers who had looked at Del Webb but prefer it here,” noted sales manager Kathy Hammons.

While many other builders are cutting back to basic packages, Atherton Homes has strived to put together options and standards that have a higher level of style. The result is starting prices that are slightly higher than many other tract neighborhoods including Del Webb. Even so, they are selling the second amount of new homes in Manteca today behind Del Webb. That underscores who is powering the new home market sales in Manteca today – older buyers.

Another part of the appeal of the Union Ranch neighborhood that ultimately will have 425 homes that is a true pocket neighborhood. The only two access points are from Union Road. It is also along the Tidewater Bikeway’s future link connecting two finished segments.

Currently, orchards surround the neighborhood on two sides. Ultimately, when they develop down the road, there will be no through streets.

Atherton Homes has homes — there are seven floor plans available in the neighborhood just east of Del Webb at Woodbridge — that are a different take on bigger tract homes.

It starts with the four distinctive exterior architectural styles — Spanish, Italianate, California Cottage, and French Eclectic. Some models have turrets with front doors at an angle to the street. Another has a recessed private front courtyard complete with a Casitas option — separate living area complete with fireplace, bedroom, and bathroom with separate access off courtyard. Another has a deep setback on the front door with a protected front patio area with a design that puts secondary bedrooms on one side of the home and the master suite on another.

Then there is one with a traditional flush entry along the front façade line.

Mix the model plans up and you have a neighborhood that looks more custom than production.

The interiors are designed to give a sense of roominess while still being cozy. It is done by creating a sense of warmth with recessed ceilings, recessed wall boxes perfect for paintings and other touches, deep window sill, and a number of built-in options such as bookshelves on landings that help to break up walls. The two-tone interior paint as standard goes a long way.

The 8-foot high doors enhance the sense of space throughout and not just here and there. The common areas don’t just have a fireplace and an adjoining built-in entertainment center. Instead they may have a raised hearth that sweep across two walls or one that adorns an entire wall.

You can get an outdoor built-in fireplace that is incorporated into the roofline of some models that have huge covered patios.

No longer can you film “Gone With the Wind” on staircases. Instead of dominating the first floor living area, it is tucked to one side to create a sense of scale and subtle elegance.
The options are also planned much better. There is a wine room that can actually be used as a wine room and isn’t simply a converted pantry. On one plan, if you want a tandem garage converted into a room it isn’t simply slapping on more square feet on to the family room or putting in place another wall. It is designed in such a manner that it flows into the floor plan. and can be used as a bonus room, a den or a bedroom

The garages are different. They have intentionally been designed with additional room in front of the vehicles or to the side. One model even has an area large enough for a workshop that an option package will put in place.

They also have tossed in rear landscaping and solar energy options plus standards that few others do such as having 1-inch metal window blinds throughout. That eliminates having to come up with the money for window coverings.

The three single story plans start at $324,990 while the two stories start at $354,990 with the largest among the base prices starting at $449,990 for a 4,157-square-foot model that can expand to 4,343 square feet. Incentives and tax credits bring the price of the $324,990 base model down closer to $300,000.

The sales office is open daily from 11 a.m. to 5 p.m. at 2517 Edgebrook Lane. To reach the office, take Union Road north of Lathrop Road to the first traffic signal. Turn right at the signal — across from the entrance to Del Webb Woodbridge — and travel to the first left turn. (The models in front are Woodside Homes, not Atherton Homes.) Turn left and follow the signs.

The office number is (209)824-2081.

For more information go to www.atherton-homes.com

Join us for a Design Essentials seminar presented by Pottery Barn®

Saturday, June 27 11:00am-1:00pm

Atherton Homes
Summit Collection Sales Office.
2517 Edgebrook Lane
Manteca, CA 95336

Light refreshments will be served.

Pottery Barn® Inspired Design
RSVP by June 20th
(209) 824-2071 or atherton_homes@yahoo.com

All attendees will be entered for a chance to win a
Pottery Barn gift card.

Purchase an Atherton Home in the month of July
And receive a $1,000 Pottery Barn Gift Card
and
Private Design Consultation.

New Home vs. Foreclosure

The Benefits of Buying a New Home vs. a Foreclosure

A common misconception among homebuyers is the idea that the best home values in today's market are foreclosures. While there are some good deals on homes in foreclosure, for most buyers, buying a new home is actually the better value.

Robert Burton, vice president of sales and marketing at The Hofmann Company, a renowned homebuilder that has built over 30,000 homes throughout northern California since 1959, shared his insights on the market and explained the advantages of buying a new home over a property in foreclosure.

What makes buying a new home a better value?

For starters, when you purchase a new home you are protected by a warranty. As Burton points out, "If anything goes wrong, the home is covered by the builder's one-year limited warranty on workmanship and materials, as well as a ten-year structural warranty." You have peace of mind knowing there won't be any unanticipated out-of-pocket repair costs to absorb.

Another benefit of buying a new home is the special incentive programs many builders currently offer to assist buyers. Some of these incentives, such as below market financing or help with closing costs, can save you thousands of dollars and make it easier for you to qualify for your home purchase.

If you're after a quick response to your offer, a new home is a smart way to go. In most cases, you're dealing directly with the builder, which ensures a prompt reply. "As long as the home is ready for occupancy, you can also count on closing escrow in a timely manner," Burton notes.

Of course, the ultimate benefit of buying new is having the opportunity to purchase your dream home. You are the first owner and everything is pristine, sparkling, and brand new. In many cases you'll be able to customize the home, selecting items like cabinetry, countertops, and flooring. Rather than making due with someone else's choices, you have the advantage of living in a home and a neighborhood that truly reflects your taste, lifestyle and personality.

Are you prepared to roll the dice on a foreclosure?

Most buyers don't realize there are a variety of risks associated with buying a foreclosure. Perhaps the biggest concern for any potential buyer should be the fact that properties in foreclosure are sold "as is." This means there's no warranty protection and more importantly, as Burton states, "there's no stipulation on disclosures on the property."

By law, conventional sales on new or resale homes require full disclosure of any details or drawbacks on the property. The seller can be held liable if a problem arises as a result of an issue that wasn't fully disclosed at the time of the sale. With foreclosures, it's always "let the buyer beware." When you purchase a foreclosure you have no recourse against the seller if there are construction defects, environmental hazards, or problems of any kind with the home.

Additionally, when you purchase a foreclosure you can't always be sure of the condition of the home. Many homeowners stop taking care of the property when they realize they will be losing the home. Often, maintenance issues are not immediately visible, for example, having the water turned off for a long period of time can result in problems with seals and plumbing fixtures throughout the home. Buyers are forced to come out of pocket to bring the home up to an acceptable standard of living.

Then there's the issue of price. Burton notes, "You may be surprised to discover that the below market listing price is not what the property actually sells for." Foreclosure properties often attract multiple offers, with professional investors stepping in and bidding up the prices of many below-market foreclosure listings. What initially looks like an incredible deal ends up selling at a significantly higher price. Keep in mind that many foreclosure properties may also require a substantial additional investment after the sale to replace damaged fixtures, missing appliances, stained or worn-out carpets and dead landscaping.

Another factor to consider is you won't receive incentives like those builders offer on financing and closing costs. In terms of financing, you're on your own when you purchase a foreclosure. In most cases, you'll need to have your financing in place before bidding on a foreclosed property.

Finally, for many, there's still a stigma attached to buying a foreclosure-a feeling of buying someone else's problems or benefiting from another family's misfortune. Those who practice Feng Shui may fear the negative energy in the house could impact their family and cause bad luck.

What about short sales?

A short sale occurs when homeowners who want to avoid bankruptcy or foreclosure proceedings gain lender approval to sell the home for less than they owe. In a short sale situation, you are at the mercy of the lender. Even if the owner accepts your offer, the lender has the final say. Obtaining lender approval is a time consuming process, which can take upwards of thirty to sixty days. Short sales require patience and may result in disappointment since lenders frequently reject offers that are below market value.

The bottom line is peace of mind

The reality is it's a great time to be a homebuyer. Prices are down, interest rates are extremely attractive, and the selection of available homes couldn't be better. If you're a risk taker, a foreclosure or even a short sale could be right for you. For the rest of us, Burton concludes, "When making an investment as significant as a home purchase, the bottom line is peace of mind." Buying a new home from a trusted builder in today's market promises the best of both worlds-outstanding value and peace of mind.

CLOSE OUT SPECIALS!!!

Atherton Homes announces the Close Out Special event for our Antigua subdivision, located on the corner of Woodward Ave. and Union Road in Manteca. Only 5 homes remain in what has been the fastest growing subdivision in Manteca over the past 2 years. If you've been considering the purchase of a home now is the time to buy. All 5 homes come complete with upgrades selected by a professional designer with prices starting in the low $200,000's.

If you're a first-time home buyer, there's never been a better to time to get it all. Prices are affordable. Tax credits available up to $18,000 while funds are available. Builder paid Closing Costs with the use of our preferred lender. Desirable location near the new Orchard Valley shopping center including Bass Pro Shops, Kersasotes movie theatre, Best Buy and JC Penney's. Not to mention a quality house that Manteca residents have come to expect from Atherton Homes.

Don't miss out on this wonderful opportunity to own your very own brand new homes in one of Manteca's most desirable locations. Contact us today to schedule a viewing with one of our sales representatives.

Atherton Homes Sales Office
2517 Edgbrook Lane
Manteca, CA 95336
209-824-2071

Grand Opening Success!

Amidst all the uncertainty in these turbulent economy times, Atherton Homes has continued to push forward with a steadfast commitment to quality growth. For the past 11 years Atherton homes has provided Manteca residents with quality subdivisions and the best new home value in the Central Valley.

Atherton Homes latest new home community, The Summit Collection at Union Ranch, continues to raise the bar and set higher standards for all new homes builders in Manteca. Even as the real estate market struggles to find level ground Atherton Homes continues to sell homes at more than double the pace of other new home builders in Manteca. With 10 sales in the past 30 days, Atherton Homes Grand Opening at Union Ranch was an overwhelming success!

Come and visit our model homes today and experience the quality that makes Atherton Homes stand out from other new home builders in Manteca.

The Time Is Now!

If you've been thing about a new home purchase, but are worried that its just not the right time...well think again, the time is now! Atherton Homes Grand Opening for the Summit Collection at Union Ranch yielded nearly a dozen reservations in 3 weeks and the upcoming Close Out Special for the final River Collection Homes at Antigua make this an exciting time to purchase a new home. The tide is turning and there has never been a better time to buy.

Interest rates are available below 5.00%, the Federal government is offering up to $8,000 to all first time home buyers, that coupled with a $10,000 tax credit from the State government for any new home purchase means up to $18,000 in potential tax incentives for purchasing a new home.

Don't miss out on all the incredible deals available from Atherton Homes. Stop by our Sales Office and Upgrade to an Atherton Homes today!

GRAND OPENING!!!

Atherton Homes would like to invite you to the Grand Opening of our latest Manteca Community, The Summit Collection at Union Ranch, on Saturday, March 14.

Sales Office opens at 11:00AM, all who visit will be entered into a drawing for gift cards and prizes from Atherton Homes and its subcontractors.

Atherton Homes will also be holding an additional drawing for those who purchase a Summit Collection home before April 15^th. Prizes will include items such as a backyard landscaping package, kitchen upgrades, paint upgrades and much, much more!

If you’ve been looking for a new home, look no further. As Manteca’s premier new home community, The Summit Collection at Union Ranch offers 7 elegant and spacious floorplans, 3 single story and 4 two story, that are sure to impress!

Interest rates are low, FHA loan limits have increased, meaning every Atherton Home qualifies for a 3.5% down payment. That coupled with a $10,000 State tax credit, whil funds are available, and Federal tax incentives make now the best time ever to purchase a new home.

Come celebrate with us, bring your family, bring your friends and take advantage of all that Atherton Homes has to offer.

2517 Edgebrook Lane
Manteca, CA 95336
(209) 824-2071
www.atherton-homes.com

Grand Opening Draws Near...

The long awaited Grand Opening of Atherton Homes' Summit Collection is nearly here. The Summit Collection offers 3 Single story and 4 Two story floorplans that are quite simple the talk of the town. Grand Opening for Manteca's premier new home subdivision has been tenatively scheduled for early March. Come and join us as we celebrate our new communty and stunning Model Homes.

Model Home of the week...

This week Atherton Homes spotlights our mid-size single story home, The Ridge - Plan 19. This 2,191 to 2,334 sqft home includes 4 Bedrooms, 3 Full Baths, a Formal Dining Room and a Lanai (covered patio) of the Family Room. With spacious rooms and ample countertop and cabinet space, the Ridge is sure to be one of the favorite new homes in Manteca. Optional features include upgraded solid surface countertops, extended tile throughout the house, a built in gas fireplace at the Lanai patio area, and stone interior fireplace surrounds. Stop by the Atherton Homes Sales Offie today to get a sneak peek at The Ridge - Plan 19 and take advantage of additional incentives for purchasing before the grand opening, scheduled for early February. Feel free to stop into the Atherton Homes Sales Office, located at 2517 Edgebrook Lane, Manteca, CA 95336 and ask a Sales Representative for a guided tour. Or visit us online at www.atherton-homes.com.

Atherton Homes’ Summit Collection breaking mold

Good-bye boxes, hello style & character

By Dennis Wyatt
Managing Editor
dwyatt@mantecabulletin.com
209-249-3532

POSTED Jan. 16, 2009 1:32 a.m.

Big for the sake of being big isn’t better.

At the dawn of the 21st century, the Manteca builder who took “big” to its grandiose big box conclusion was Seeno Homes with their Heritage Ranch neighborhood near Joshua Cowell School in East Manteca.

They literally built mammoth 4,500-square-foot rectangle boxes with little exterior architectural relief. The interior in many parts wasn’t much better especially for those who decided to have the super-sized master bedroom suites on the second floor where the bedroom had all the feel of a bowling alley thanks to having 900 square feet of space. In Japan, they could house two families in the master suite alone.

Even so, the sameness of the style and how they were all built flush to the front setback — especially along the north side of Nehemiah Avenue — seemed more reminiscent of tilt-up commercial buildings such as the Manteca Home Depot.

To the credit of a number of buyers, they have gone out of their way to add human-scale to the gargantuan homes with classy driveway improvements, landscaping, stone work on the façade and even two-tone paint jobs.

The interior space, though, leaves you with a cold hollow feeling once you remove the furniture.

The argument, of course, is that’s what people wanted.

Let’s be honest. It is what the builders could churn out making the most money on. Buyers weren’t really given many options, as new home builders in Manteca — with the exception of Florsheim Homes — have tended to have a pack mentality when it comes to basic design concepts. The only difference was the gingerbread. The more basic and boxy you could make a big two story house, the larger the profit margin.

The game when it comes to the bigger homes found in Manteca’s new housing market is changing at least at The Summit Collection at Union Ranch.

Atherton Homes — which has built their share of huge living spaces complete with architectural shelves that are great at collecting dust — is breaking the mold.

They have shown not only can you build big two-story homes from 2,800 to 4,343 square feet with character and style but it also translates well on big one-story homes that range from 2,128 square feet to 3,011 square feet.

Atherton changes design styles

Atherton Homes is preparing to roll out four models — there are seven models available in the neighborhood just east of Del Webb at Woodbridge — that are a different take on bigger tract homes.

It starts with the four distinctive exterior architectural styles — Spanish, Italianate, California Cottage, and French Eclectic. Some models have turrets with front doors at an angle to the street. Another has a recessed private front courtyard complete with a Casitas option — separate living area complete with fireplace, bedroom, and bathroom with separate access off courtyard. Another has a deep setback on the front door with a protected front patio area with a design that puts secondary bedrooms on one side of the home and the master suite on the other.

Then there is one with a traditional flush entry along the front façade line.

Mix the model plans up and you have a neighborhood that looks more custom than production.

The interiors are designed to give a sense of roominess while still being cozy. It is done by creating a sense of warmth with recessed ceilings, recessed wall boxes perfect for paintings and other touches, deep window sill, and a number of built-in options such as bookshelves on landings that help to break up walls. The two-tone interior paint as standard goes a long way.

The 8-foot high doors enhance the sense of space throughout and not just here and there. The common areas don’t just have a fireplace and an adjoining built-in entertainment center. Instead they may have a raised hearth that sweep across two walls or one that adorns an entire wall.

You can get an outdoor built-in fireplace that is incorporated into the roofline of some models that have huge covered patios.

No longer can you film “Gone With the Wind” on staircases. Instead of dominating the first floor living area, it is tucked to one side to create a sense of scale and subtle elegance.

The options are also planned much better. There is a wine room that can actually be used as a wine room and isn’t simply a converted pantry. On one plan, if you want a tandem garage converted into a room it isn’t simply slapping on more square feet on to the family room or putting in place another wall. It is designed in such a manner that it flows into the floor plan. and can be used as a bonus room, a den or a bedroom

The garages are different. They have intentionally been designed with additional room in front of the vehicles or to the side. One model even has an area large enough for a workshop that an option package will even put in place.

They also have tossed in rear landscaping and solar energy options plus standards that few others do such as having 1-inch metal window blinds throughout. That eliminates having to come up with the money for window coverings.

The three single story plans start at $344,990 while the two stories starting at $374,990 with the largest among the base prices starting at $449,990 for a 4,157-square-foot model that can expand to 4,343 square feet. Incentives bring the price of the $344,990 base model down closer to $300,000.

The models are almost complete. The sales office is open daily from 11 a.m. to 5 p.m. at 2517 Edgebrook Lane. To reach the office, take Union Road north of Lathrop Road to the first traffic signal. Turn right at signal — across from the entrance to Del Webb Woodbridge — and travel to the first left turn. (The models in front are Woodside Homes, not Atherton Homes.) Turn left and follow the signs.

The office number is 824-2081.

Find us online at www.atherton-homes.com

Atherton Homes Making Headlines

By Dennis Wyatt
Managing Editor
dwyatt@mantecabulletin.com
209-249-3532

POSTED Jan. 14, 2009 3:11 a.m.

It is the next big thing in Manteca housing.

There are four distinctive exterior architectural styles — Spanish, Italianate, California Cottage, and French Eclectic.

The homes feature new twists for Manteca “production” homes such as bona fide wine rooms, patio fireplaces incorporated into rooflines, and Casitas — separate living area complete with fireplace, bedroom, and bathroom with separate access off the front courtyard.

Standard features the gamut from 8-foot interior doors, two-tone interior paint, 5.25-inch high Coronado base boards and something that new homes rarely come with — window coverings in the form of one-inch metal blinds throughout the house.

As most builders opted to retrench during the housing meltdown or turn to entry-level housing, Atherton Homes is raising the bar.

The long-time Manteca builder is rolling out the Summit Collection at Union Ranch just east of Del Webb at Woodbridge. The models aren’t done yet and already the builder has sold 10 homes in the 98-lot first phase. Four homes have closed and six are under construction. An additional two have been reserved. As for the models, they may be done by early February.

“We’re not in the business of building boxes any more,” quipped sales director Kathy Hammons.

Atherton Homes has completely departed from their floor plans that were among the top sellers south of the Highway 120 Bypass in neighborhoods such as Woodward Park, Antigua, Emerald Glen, and Jasmine.

Extensive architectural features such as recessed ceilings, liberal use of built-in cabinets and shelves, interior stonework including stone counters, hardwood floors, and deep windowsills give the homes a distinctive different look.

Perhaps the most intriguing thing about Union Ranch and the Summit Collection are the prices. There are seven models with base prices ranging from $344,990 as the base for The Capstone with a floor plan starting at 2,128 square feet to $449,990 as the base for The Plymouth with square footage starting with 4,157 square feet.

It is in start contrast to the resale market where 1,165 existing homes sold last year for a median price of $225,000.

Developers — including Atherton Homes — can’t build new homes that cheap even at cost.

Atherton Homes closed deals on 55 homes last year. It is about a third of the pace they were doing when the market was red hot. But even so, the only builder in Manteca who sold more homes last year was Pulte Homes in Del Webb with its 55 and older housing restriction.

If several of the Atherton Summit Collection model homes now under construction are reminiscence of several homes found among the storied Blackhawk community in the Diablo Valley, it’s by design.

“The same homes we’re selling for $424,900 (The Pinnacle at 3,844 square feet) are selling in Blackhawk for $1.4 million,” Hammons noted.

More telling of the value at Union Ranch is Atherton’s own pricing. Three years ago, the largest home that Atherton Homes built for $650,000. Today the same square footage can be bought for $449,990.

That, though, is just part of the story. Buyers of Atherton Homes three years ago — like those from most new homebuilders in Manteca — were predominately from the Bay Area. Now the lion’s share of buyers are Manteca move-up buyers including those who are keeping their current homes as rentals and buying new to take advantage of the lowest interest rates in over 30 years, aggressive pricing by builders, and the latest technology including energy savings packages that include solar power.

There are three single story models from 2,100 to 2,800 square feet. Hammons noted that with incentives, the price of that $344,990 is a lot close to $300,000.

“There is a lot of character and style in the homes we’re building,” Hammons noted.

Some buyers like the proximity to Del Webb — the age-restricted community — so they can be near parents. Others like the fact it is on the edge of the country or that the entire 500-home neighborhood only has two ways in and out – both via Union Road.

Most new home buyers who have passed on other new neighborhoods that are still not built out do make one thing clear that they like about Union Ranch — no foreclosures.

That’s because buyers in both the Woodside neighborhood and Atherton’s Summit Collection have to be well qualified to have secure loans as home sales did not start in any part of Union Ranch until early 2008.

It isn’t the first time Atherton Homes has broken with the pack. They were the first to roll out production homes bigger than 3,000 square feet and than and again bigger than 4,000 square feet complete with a rotunda. Both came at a time when other builders openly expressed amazement that Atherton Homes was pushing the envelope offering homes that big in Manteca.

The sales office features an interactive touch video screen where buyers can switch in and out floor plan options, pick façade style, lot setbacks, and have it all printed out

The sales office is open seven days a week from 11 a.m. to 5 p.m. For more information call 824-2071.

New Year Brings Change...

The new year is upon us and with it brings change. Out with the old and in with the new. That statement holds true for new homes in Manteca. Atherton Homes is winding down the Antigua subdivision. Located on the corner of Union Road & Woodward Avenue, Antigua proved to be the most successful new home community in Manteca in 2008. Antigua offers 4 well designed and functional floorplans, perfect for any first time buyer. Affordable pricing and countless am menities set Antigua apart from all other new homes in Manteca, don't miss your chance to get in on the fastest growing community in Manteca.

If your looking for a larger home with a little more modern design, then Manteca's latest new home community, The Summit Collection at Union Ranch is just right for you. The crown jewel of Atherton Homes, the Summit Collection offers 7 Stunning floorplans that are both beautiful and functional. Included in every home is the "All the Essentials" packag e, incorporating far more standard features that any other new home community in Manteca and is built with the quality you would expect from an Atherton Homes. Our model homes are due for completion near the end of January 2009, don't miss your chance to receive additional incentives and pre-model pricing. Come and visit us today at 2517 Edgebrook Lane, Manteca, CA 95336 and prepare to be impressed