Manteca 3-peats as housing leader

19 times as many homes built in Manteca than Tracy

Manteca continued to dominate the Northern San Joaquin Valley new housing market with 345 homes built in 2010.

It marked the third year that Manteca housing starts and new home sales led San Joaquin, Stanislaus and Merced counties based on information obtained from the building departments of various cities in the Northern San Joaquin Valley. It was the second year the number of starts topped 300 housing units.

The next closest city in San Joaquin County for 2010 with 138 housing starts was Lathrop. Stockton was next at 108 homes started and then Tracy with 18 starts.

Modesto in 2010 had 37 housing starts.

In 2009 Manteca had 304 housing starts followed by Stockton with 120, Modesto with eight, and Tracy with six.

There are signs that Manteca will continue to lead the Northern San Joaquin Valley for a fourth year in 2011 when it comes to housing starts and sales.

Three developers - Pulte Homes, Florsheim Homes, and Atherton Homes - have all indicated they plan to break ground on new lots this spring.

More well-heeled buyers are also in the market as Atherton Homes since the start of December has sold six homes larger than 4,000 square feet. They sold just four such homes in the previous 2 ½ years.

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

Strong December for Housing

Manteca ends 2010 with 355 new housing starts

Manteca builders ended 2010 by accelerating housing starts for the third best December on record.

Builders started 60 new homes in December - including seven custom homes. That followed on the heels of the best November for housing starts in seven years with 41 homes breaking ground. The strong finish for the year ratcheted up the city’s housing starts for 2010 to 355 to allow Manteca to lead the Northern San Joaquin Valley for the third consecutive year.

It reflected an increase of 51 new home starts over the 2009 level of 304.

The 355 homes represent 889,336 square feet or living space the equivalent of 11 Manteca Walmart stores. That represents an average of 2,505 square feet per home.

The size of the home reflects a growing confidence in the new housing market.

At the bottom of the new housing market in February 2008 when 10 permits were issued, the average size fell to 1,577 square feet.

There are clear signs in the past two months that the appetite - and ability to pay - for 4,000 square-foot new homes is on the rise.

Since the start of December Atherton Homes has sold six of The Pinnacle models in the Summit Collection at Union Ranch. The Pinnacle goes up to 4,041 square feet of living space. Atherton Homes is the only builder in Manteca currently building homes larger than 4,000 square feet. Prior to that it took Atherton Homes 2 ½ years to sell four homes larger than 4,000 square feet.

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

Classy looks spur steady sales

Union Ranch is a unique neighborhood for many reasons.

•It has a loop street pattern serving eventually more than 400 homes. That means no through streets teeming with traffic.

•It will back up to the future northerly extension of the Tidewater Bike Way.

•Homes are 100 percent owner occupied and there are no distressed properties.

•It is one of the first developments doing well enough to get ready to break ground on installing infrastructure for a new phase this spring.

Union Ranch is located north of Lathrop Road directly east of the age-restricted Del Webb at Woodbridge community.

The location as well as the Summit Collection floor plans are so popular that nine of the next 61 lots yet to have improvements to make them buildable already have holds on them.

There are just 10 lots left in the current unit.

Atherton Homes is offering incentives to sell the existing lots as quickly as possible. Director of Sales Kathy Hammons added that not only will buyers who purchase now get those incentives but they can also beat new state mandates for new residnetial construction that include installing fire sprinklers that are expected to add to the cost of a new home in California when they go into effect.

The community also includes a park where improvements are underway and an area set aside for a possible future elementary school campus.

Homes start at $297,990 for a 1,877-square-foot home and go up to 4.041 square feet with a base price on the larger model of $399,990.

That largest floor plan - The Pinnacle - is typical of the Summit Collection design that incorporates classy lines, well-planned living areas, and unique features that prevents it from being lumped with other large homes as a McMansion.

It starts with a casita that accesses the same court yard as the front door and has a door leading to the main house. It is designed as living quarters for grandparents complete with bedroom, large walk-in closet a living room that comes with a sink and refrigerator. You can have it built as a living room and office if you’d like. The two-story, four bedroom, and 4.5 bathroom home has a spacious master suite that is just the right-size, a Jack-n-Jill bedroom and bathroom set-up and an upstairs laundry that rivals most secondary bedrooms in size compete with cabinets and built-in ironing board.

There is a wine room that can replace a dining nook and cabinets. An extended hearth comes standard on the family room fireplace. Coved ceilings and other classic touches blend the family room and kitchen areas together.

The third car stall for the tandem garage can be converted into a bonus room.

The Summit Collection sales office is located on Edgebrook Lane accessed by turning right off Union Road at the traffic signal at the entrance of Del Webb at Woodbridge north of Lathrop Road.

The models are open daily from 11 a.m. to 5 p.m. For more information go to www.atherton-homes.com or call 824-2071.

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

It took Atherton Homes 2 ½ years to sell four homes larger than 4,000 square feet.

But since the start of December the Manteca builder has sold six of The Pinnacle models in the Summit Collection at Union Ranch. The Pinnacle goes up to 4,041 square feet of living space. Atherton Homes is the only builder in Manteca currently building homes larger than 4,000 square feet.

“Interest has picked up considerably in the larger models,” said Atherton Homes Director of Sales Kathy Hammons.

She noted that the Union Ranch neighborhood is a post-market collapse development. That means there are no foreclosures and no investors and that means no renters.

The demands for new home sales is prompting Atherton Homes to break ground this spring on streets, sewer and water lines, and other infrastructure for the next Union Ranch unit of 61 lots. Nine of the 61 lots already have holds on them.

Both are encouraging signs for the housing market. Manteca went nearly four years without any builder investing in infrastructure to create new lots until Del Webb at Woodbridge did so last summer for additional homes for the age-restricted community.

Atherton Homes is the second Manteca builder to announce they will be moving earth this spring. Florsheim Homes plans to create 44 more buildable lots this spring in the Valley Blossom neighborhood southwest of Airport Way and the 120 Bypass.

Three years ago Manteca has an inventory of 940 buildable lots with the entire infrastructure already in place from underground power lines, streets, sewer and water lines, sidewalks, and other utilities to storm drains. That inventory is ready to drop below the 500 mark.

The Pinnacle at 4,041 square feet and starting at $399,990 is the largest home now being built in Manteca while Valley Blossom offers the smallest home being built in Manteca with 1,286 square feet starting at $169,900. The lowest-priced Atherton Homes model has 1,877 square feet starting at $297,990.

The large Summit Collection home is arguably an anti-McMansion with its floor plan with a “casita” designed as separate living quarters off the entry courtyard for grandparents. Virtually every Pinnacle sold has the casita option that replaces the office/living room that is part of the standard design. The rest of the four bedroom, 4.5 bathroom home has a design that is in a decidedly classic look with a floor plan designed to accommodate families with style.

The homes are about 200 square feet smaller than the large rectangular houses built in the Heritage Ranch neighborhood south and east of Joshua Cowell School in East Manteca by Seeno homes. The 4,336-square-foot homes peaked at $750,000 before the housing market nose dived. At the absolute bottom of the upper end market in Manteca, a seven bedroom and four bathroom version of that home in the 600 block of Vasconcellos Avenue closed escrow for $285,000 in the spring of 2009.

Hammons also noted they are now seeing a 50-50 split between Bay Area buyers and those who are from this side of the Altamont Pass. During the housing frenzy close to 90 percent of all new home buyers were from the Bay Area. That flipped during the depths of the housing retreat with valley buyers being dominate.

The Summit Collection sales office is located on Edgebrook Lane accessed by turning right off Union Road at the traffic signal at the entrance of Del Webb at Woodbridge north of Lathrop Road.

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