New Homes in Manteca, CA | Atherton Homes

Restore Housing Loan Limits

2011-10-31T13:47:00.000-07:00

October 31, 2011

On September 30th, 2011, the temporary loan limits for FHA and GSE insured home loans expired, resulting in a reduction of consumer credit in 669 counties across 42 states. The expiration is making a weak housing market even weaker and also makes it harder for middle class homebuyers to get mortgages when credit is already tight.

Luckily, there is a solution in the form of a bipartisan amendment, referred to as the Menendez-Isakson Amendment, which would restore the recently expired temporary loan limits until December 31, 2013.

Fortunately, some leaders in Congress are taking steps to extend the temporary loan limits and pass this important amendment. The legislation now goes to a "Conference Committee" to iron out differences between the House & Senate versions. But they need your help to succeed as some members of the US House are opposed to a loan limit extension and thus will likely push to exclude the Menendez-Isakson Amendment from the Conference Report. The Conference Report could be finalized as early as next week so time is very critical.

We need to apply pressure on rank & file House Republicans to reach out to House Leadership to encourage them to preserve the Menendez-Isakson language.

Please contact your elected representative in Congress today and ask them to support Appropriations Bill HR 2112. This legislation enjoys bi-partisan support in the House and is our only chance to restore the temporary loan limits that are so important to stabilizing the housing market.

Please click here to send your message to Congress today!

Sincerely,

Ken Gear
Executive Director
Leading Builders of America

Union Ranch Park ready to break ground

2011-10-29T11:10:00.001-07:00

The most controversial neighborhood park project in Manteca’s history is about to break ground.

The City Council on Tuesday is expected to approve the final documents to allow work to start on improvements for the 7.37-acre Union Ranch East Park along with 3.3 acres of linear park improvements. It includes a bike path that will eventually connect to the Tidewater Bikeway.

Residents of the neighborhood immediately east of Del Webb at Woodbridge in North Manteca balked at being assed landscape maintenance district fees for a park that didn’t yet exist. They also argued the city had no authority to assess the tax.

City officials cited state law that gave them the power to do so. Most of the controversy occurred because the park wasn’t constructed when the development broke ground as has been the norm almost everywhere else in Manteca. Also, buyers said the developers didn’t make the actual cost per year clear in their disclosure documents.

The $1.2 million park project is being paid for with fees collected from homes in the 400-plus lot neighborhood.

Park improvements include two playground areas - one for preschoolers and another for those 5 to 12 years of age. The playgrounds will flank a picnic area with a 35-foot octagon canopy. There will be tables under the shade structure as well as outside of it. Several barbecues will be put in place along with a basketball court, drinking fountains, decorative security lighting, benches, and trash receptacles.

The park is expected to be ready for use by spring.

By Dennis Wyatt
Managing Editor
dwyatt@mantecabulletin.com
209-249-3519

Manteca shows bright spots in jobs, housing

2011-09-26T14:57:00.000-07:00

New home starts dropped in August across the country.

Not in Manteca. They more than doubled over the previous month.

Unemployment was unchanged nationally in August.

Not in Manteca. Nine hundred people found work for the biggest drop in the jobless rate in three years.

At the same time Manteca for the fourth consecutive year could end up building more new housing units than all other jurisdiction in San Joaquin County combined. Toss in the fact the sales pace of existing homes - primarily foreclosures - still is steady as it is in much of the rest of the county and Manteca appears to be bucking a few negative national trends. Yes, sale prices of existing homes aren’t increasing and the new home building pace is about 40 percent of what many Manteca’s came to expect as normal.

And the somewhat of a disconnect with national economic trends isn’t all positive.

Despite a 1.2 percent improvement in August employment, Manteca’s 14.1 jobless rate is significantly higher than the national 9.1 percent rate and above California’s 12.1 percent rate. It is, though, below the 16.1 percent unemployment rate for San Joaquin County as a whole. That higher number is driven by the fact Stockton has close to one out of every five employable adult looking for work.

“There is big disconnect between Washington and much of the country,” Manteca Mayor Willie Weatherford said. “We’d be thrilled in San Joaquin County to have an unemployment rate of 9 percent.”

Even in good times, the county’s jobless rate never dropped far below 9 percent.

Weatherford believes some “micro” economic decisions made by the city over the past few years has put Manteca in a somewhat better position than neighboring jurisdictions.

The other big factor that Weatherford attributes to Manteca faring somewhat better in some types of economic development than its neighbors is location.

“It’s just like in baseball, location is important where you hit the ball,” Weatherford said.

Manteca in August issued 61 permits for new single family homes including three custom homes. That represents the biggest month in at least four years. Through the end of August, 206 new single family homes have been started along with the 152-unit apartment complex on Atherton Drive in South Manteca. Manteca already is enjoying its biggest year for overall new housing starts in four years.

New home sales are still being driven by Del Webb at Woodbridge that accounts for roughly 30 percent of all transactions.

The city has been averaging 300 new homes for the past three years. That has added roughly 1,000 new consumers a year. It is a critical infusion given retail and services are struggling as many existing residents reduce consumer spending. In essence, economists contend growth in such cases actually keeps local economies from being worse off than they already are.

The City Council helped spur new home construction by opting to collect almost all growth-related fees right before a home is actually funded or sold instead of upfront when the home permits are issued. It hasn’t impacted the city’s bottom line but it has allowed builders to create more liquidity which is critical when construction can take as long as six months.

Existing home sales are expected to reach 1,100 closed deals by year’s end for the third straight year. At the same time, several banks have restarted their foreclosure process after getting paperwork in order. Bank of America alone is reported to have increased its foreclosures in Manteca and elsewhere in the Northern San Joaquin Valley by almost 80 percent in August compared to July.

By Dennis Wyatt
Managing Editor
dwyatt@mantecabulletin.com
209-249-3519

California Home Sales Surge in August, Median Price Highest of the Year, Reports C.A.R.

2011-09-22T12:13:00.000-07:00

LOS ANGELES, Sep 15, 2011 (BUSINESS WIRE) -- California home sales posted an increase from both the previous month and previous year in August, while the median home price rose to its highest level this year, according to data from the CALIFORNIA ASSOCIATION OF REALTORS(R) (C.A.R.).

Closed escrow sales of existing, single-family detached homes in California rose to a seasonally adjusted 497,390 units in August, up 8.6 percent from a revised 457,930 in July, according to information collected by C.A.R. from more than 90 local REALTOR(R) associations and MLSs statewide. August home sales were up 10.2 percent from the revised 451,520 units sold during the like period a year ago. The statewide sales figure represents what would be the total number of homes sold during 2011 if sales maintained the August pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

"August's median price marked the highest since December 2010, signifying that prices may be stabilizing in some market segments, as investors and first-time buyers continue to see value and opportunity in the market," said C.A.R. President Beth L. Peerce.

The August statewide median price of an existing, single-family detached home sold in California was $297,060, up 1 percent from a revised $294,050 in July, but down 7.4 percent from the $320,860 median price recorded for August 2010.

"While the increase in August sales is encouraging, these sales are based on closings that occurred before the debt ceiling debate in early August and subsequent heightened concern about the future direction of the economy," said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. "How these events and the impending reduction in the conforming loan limits will impact home sales and prices in the coming months remains to be seen."

Other aspects of C.A.R.'s resale housing report for August 2011 include:

-- The Unsold Inventory Index for existing, single-family detached homes was 5 months in August, down from 5.5 months in July and down from a revised 5.8 months in August 2010. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.

-- Thirty-year fixed-mortgage interest rates averaged 4.27 percent during August 2011, down from 4.43 percent in August 2010, according to Freddie Mac. Adjustable-mortgage interest rates averaged 2.93 percent in July 2011, compared with 3.53 percent in August 2010.

-- The median number of days it took to sell a single-family home was 52.7 days in August 2011, compared with 45.5 days for the same period a year ago.

-- View Unsold Inventory by price point

Note: The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS(R) throughout the state, and represent statistics of existing single-family detached homes only. County sales data are not adjusted to account for seasonal factors that can influence home sales. Movements in sales prices should not be interpreted as changes in the cost of a standard home. Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold. Due to the low sales volume in some areas, median price changes in June may exhibit unusual fluctuation.

Leading the way...(R) in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS(R) ( www.car.org ) is one of the largest state trade organizations in the United States, with more than 160,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

SOURCE: CALIFORNIA ASSOCIATION OF REALTORS

CALIFORNIA ASSOCIATION OF REALTORS
Lotus Lou, 213-739-8304
lotusl@car.org

Copyright Business Wire 2011

Temporary loan limits set to expire on October 1: Take Action Now!

2011-09-08T13:39:00.000-07:00

September 07, 2011

In 2008, when the economy and the housing market were in freefall Congress temporarily raised the limits for FHA and GSE loans. This common sense response to a severe credit crisis has been critical to ensuring access to mortgage loans.

Unfortunately, unless Congress acts before October 1, the temporary loan limits will expire. If that occurs, conforming and FHA loan limits will be slashed by over 50% in some markets dealing a devastating blow to a housing market struggling to recover. And the impact won't be limited to only "high cost" markets. Limits will be reduced in 608 counties which contain 59% of all U.S. households.

Fortunately, some leaders in Congress are taking steps to extend the temporary loan limits. But they need your help to succeed.

Please contact your elected representative in Congress today and ask them to co-sponsor HR 1754 the "Preserving Equal Access to Mortgage Finance Programs Act." This legislation enjoys bi-partisan support in the House and is our only chance to preserve the existing loan limits that are so important to stabilizing the housing market.
Please click here to send your message to Congress today!

Manteca Housing Sales Hold Steady

2011-08-20T11:16:00.001-07:00

Manteca’s housing market continues to perform better than California as a whole when it comes to the number of existing homes being purchased.

The median selling price movement, though, is close to mirroring that of the rest of the state. California prices were off 6 percent in July compared to July of 2010. The decline in Manteca was 5.8 percent. But unlike the state as a whole, Manteca’s home prices jumped from 2009 to 2010 going from a median of $178,000 to $185,000 while the California median closing price declined.

The number of existing homes closing escrow has remained steady for the past four years. There were 1,165 homes sold in 2008, 1,211 homes in 2009, and 1,181 homes in 2011. As of Monday, 718 homes have been sold this year. That reflects 3.2 homes closing escrow every day. At that rate, Manteca will hit 1,169 sold homes by year’s end.

The pending deals offer encouraging numbers in terms of the median price not slipping. There are 206 homes currently in contract with a median pending price of $186,450.

There are 200 active listings with a median asking price of $194,750. The inventory has been dropping after climbing back up to 268 in February. Prior to the start of this year, the number of available homes had been steadily declining since September 2007 when a record 651 homes were waiting for buyers.

Realtors have indicated it is not clear if the decline is the result of inventory actually dropping or the foreclosure process taking longer to put homes back on the market. In either case, the market absorption of existing homes has remained virtually unchanged since March of 2008.

By Dennis Wyatt
Managing Editor
dwyatt@mantecabulletin.com
209-249-3519

Manteca’s Plan for 143 acres of Family Entertainment!

2011-08-11T14:39:00.000-07:00

In the not-too-distant future you may be able to dine at a restaurant along the shores of a man-made lake just across the street from the proposed Great Wolf Resort.

A promenade around the lake would allow you to take in the sights of people using paddle boats and kayaks. It could also take you to a smorgasbord of other possible entertainment opportunities ranging from an outdoor venue for concerts to attractions such as a paintball course, zip lines, rock climbing, go-karts, miniature golf, skate park, destination playground, microbrewery, specialty shops, and even a revival of the original Manteca Waterslides.

It is all part of a conceptual plan now being hammered out to turn 143 acres of corn grown for silage that’s irrigated with treated wastewater into a family entertainment zone designed to tap into the pocketbooks of a million consumers within a 30-mile radius of Manteca.

Consultants hired by the Manteca Redevelopment Agency to develop a plan aimed at creating a community gathering place on city-owned water treatment plant land immediately west and north of Big League Dreams conducted a workshop on Tuesday.

The final draft of the plan is is expected to go before the City Council at the Sept. 20 meeting.

It is part of a broad-based economic and cultural development plan aimed at generating jobs, providing family entertainment in Manteca, and luring people from throughout the region to spend time and money.

Consultant Dan Martin of Market Feasibility Advisors noted there are two primary markets that Manteca needs to target:

• a million people within a 30-mile radius of the site northwest of the 120 Bypass and Airport Way interchange.

•the 400,000 plus people who attend BLD games and tournaments as well as those who spend weekends at Woodward Park at regional and north state soccer tournaments taking place on eight different fields.

At the same time Martin noted it would give Manteca a fighting chance to snag some of the pass-thru traffic heading from the Bay Area to the Sierra as well as some of the 1.2 million plus annually visitors to the Manteca Bass Pro Shops.

The goal is to provide a plan that has a strong mix of entertainment options across the age spectrum. To that end, the consultants devised a list of possible attractions that also included a destination playground, possible interactive water play features, as well as a venue for organized team sports competition such as basketball, volleyball, and gymnastics. Residents attending the workshop suggested the consultant may want to consider such things as an aquatics center with a competition swimming pool as well as wine tasting.

The large manmade lake is at the heart of the plan. Martin noted it would easily be filled thanks to the high water table in the area.

Lodi has a similar gathering place for community entertainment in the form of Lodi Lake that was created just off the Mokelumne River. The proposed Manteca lake would go a step further and incorporate entertainment venues with the appeal of lake based activities. Lodi Lake offers paddle boats, canoes, and even a manmade beach with a separated swimming area.

By Dennis Wyatt
Managing Editor
dwyatt@mantecabulletin.com
209-249-3519

City staff noted that any work that involves turning earth would be at least two years away.

Close Out Specials!

2011-08-07T12:17:00.000-07:00

Atherton Homes would like to announce that Unit 2 of the Union Ranch community, featuring the Summit Collection is nearing completion, only 4 lots remain. If you’ve considered purchasing a new home at Union Ranch, there’s no better time than now!

This will be your final opportunity to take advantage of Unit 2 pricing, as new legislation was recently passed by the State of California that will require additional safety materials to be installed in all new homes. This new mandate has made it necessary to increase pricing for homes in Union Ranch – Unit 3.

Stop by the Sales Office today and ask a Sales Representative about the generous incentives available for all remaining lots in Unit 2.

Act now to take advantage of the additional savings.
Upgrade to an Atherton Home today!

261% jump in new homes

2011-03-21T16:24:00.000-07:00

February hot month for Manteca housing starts

New home buying activity made February the strongest month for single family housing starts in Manteca in nearly four years.

Builders were issued 47 permits for single family homes last month. That compares to 13 in February of 2010.

At the same time the value of the construction is up almost 10 percent per home reflecting buyers that are able to afford more square footage and upgrades.

The average value of the actual construction of homes issued permits last month was $157,469. That compares to $144,778 a year ago. That figure does not reflect the cost of the lot, various growth and connection fees or the cost of the infrastructure to serve the house that the developer installed or grading improvements.

Manteca has now started 69 homes in the first two months of 2011

If the current pace continues Manteca could end up building just over 400 new homes by the time the year ends.

Manteca for the last two years has built more than 300 new homes annually making it the Northern San Joaquin Valley new housing leader. February marked the 27th straight month Manteca topped all of San Joaquin County jurisdictions for new housing starts.

Three different developers are preparing to work ground to create additional lots to meet the increasing demand in Manteca.

Manteca is among those jurisdictions bucking the national trend for anemic housing starts in the first two months of this year.

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

Manteca 3-peats as housing leader

2011-01-31T11:43:00.000-08:00

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

2011-01-27T11:30:00.000-08:00

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

2011-01-22T11:03:00.000-08:00

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

2011-01-21T11:16:00.000-08:00

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

Manteca new home starts up 50%!

2010-09-30T15:39:00.000-07:00

It isn’t 2000’s torrid pace of 1,074 new housing starts but given the economic conditions Manteca is arguably in the middle of a mini-housing boom with 289 new single-family home housing starts in the first eight months of 2010.

Builders started 60 new homes in August for the best single month in at least six years. It is just over double the housing starts in July when builders began work on 29 new homes within Manteca’s city limits.

Manteca’s 50 percent jump from July to August for new housing starts is in stark contrast to national new housing starts that reflected a 1.8 percent increase going from 559,000 new starts in July to 569,000 in August based on U.S. Department of Housing & Urban Development statistics.
It also is in sharp contrast to California as a whole. The California Building Industry Association reported starts for single family homes in August were down 15 percent from July dropping to 3,598 new starts

Actual housing units that have been completed or started so far this year in Manteca comes in at 341 units when the 52-unit subsidized senior housing complex known as the Magnolia Court apartments that broke ground in January behind Dribbles Car Wash on North Main Street is included in the count.

Manteca is on target to reach the predicted 350 hew housing starts for 2010 that both the city and developers anticipated at the start of the year.

August also marked the first month in nearly three years that Del Webb wasn’t the leading builder in Manteca when it came to housing starts. Pulte Homes started 17 homes at Del Webb at Woodbridge, just one less than at the various Woodside Homes neighborhoods in Manteca. Builders view that as a sign that the non-age restricted market is starting to pick up in Manteca.

New home buyers were looking for small homes back in February 2008 when the typical new home permit in Manteca was for a 1,577-square-foot home. By May of 2008 the average size of a new home being built climbed up to 1,760 square feet.

The typical new home start in Manteca during August averaged 2,396 square feet.

August to August comparisons show in 2009 the average new home cost $148,559 to build and in 2010 it cost $144,679 to underscore value pricing is driving sales. Many Manteca builders, though, are helped by the fact they have already written off the cost of developing finished lots after the housing market stalled. More than 600 finished lots remain giving Manteca at edge in the Northern San Joaquin valley housing market.

Del Webb last month became the first builder in more than three years to break ground on new lots. They are adding 49 lots costing $1.7 million in grading and infrastructure for the phase that extends Del Webb Woodbridge down to Lathrop Road.

The prices for Manteca new home construction do not reflect between $50,000 and $65,000 per home in growth fees and connection charges or the land costs and developer cost and profit.

In 2009, Manteca topped all San Joaquin Valley jurisdictions with 304 new homes built and sold. Next closest was Stockton at 120. Eight new homes were built in Modesto during 2009 while six were started in Tracy based on permits issued by various cities.

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

229 homes started so far this year in Manteca

2010-08-19T14:05:00.000-07:00

Manteca is on pace to again lead the Northern San Joaquin Valley in housing starts.

Builders so far in 2010 have started 229 single family homes including three custom homes through July 31. That is in addition to the 52-unit subsidized senior housing complex known as the Magnolia Court apartments that broke ground in January behind Dribbles Car Wash on North Main Street. Housing starts in July numbered 29.

Pulte Homes continues to dominate new housing starts in Manteca as it has for the last 26 months. Seven of the new home starts in July were in the 55 years and older age-restricted Del Webb at Woodbridge community. So far for 2010 almost three out of every 10 new homes started in Manteca have been in Del Webb at Woodbridge.

In 2009, Manteca topped all San Joaquin Valley jurisdictions with 304 new homes built and sold. Next closest was Stockton at 120. Eight new homes were built in Modesto during 2009 while six were started in Tracy based on permits issued by various cities.

As of June, Manteca was 100 ahead of the rest of the Northern San Joaquin Valley in terms of housing starts for far in 2010.

A new builder started their own neighborhood in Manteca in July.

K. Hovnanian Homes purchased the remaining 55 lots in the Anderson Homes neighborhood on the northeast corner of South Main Street and Woodward Avenue last month. Three permits were issued for model homes in July for the neighborhood dubbed Medallion.

They are offering three home designs ranging from 1,886 to 2,358 square feet. One- and two-story homes will be available at Medallion with home prices expected to start in the mid $200,000s.

Resales on pace for 1,140 deals
The new home sales have had little impact on the resale market that is still flooded with foreclosures.

There have been 703 existing homes sold in Manteca this year as of Friday. At the current pace 1,140 resale homes will close escrow by year’s end.

If that happens, it will mark the third consecutive year more than 1,100 existing homes have sold in Manteca.
There were a record 1,211 existing homes sold in 2009 and 1,165 resales that closed escrow in 2009. That compares to 402 in 2007 when the bubble started deflating.

Median prices dropped from a high of $345,000 in 2007 on existing homes to $185,000 today. That reflects just under a $4,000 jump over 2009 prices that bottomed out at $178,000.

Well under growth cap
Manteca has started 281 housing units including multiple family dwellings in the first seven months of 2010.
That means a little over a third of the housing allowed under the growth cap established in 1988 have occurred in 2010 to date.

Manteca’s growth control policy limits sewer connections to 3.9 percent of the total of all housing existing in Manteca as of Dec. 31 of the previous year.

The growth management ordinance does not differentiate between single family homes and multiple unit housing complexes such as duplexes and apartments.

Manteca becoming city of single family homes
Single family homes at the end of 2009 numbered 23,169 in Manteca or 77.9 percent of all housing stock. That is a larger share than 10 years prior in 1999 when there were 16,812 single family homes that accounted for 74.1 percent of all housing stock.
The non-single family homes include apartments, mobile homes, duplexes, and triplexes.

The 29 single family homes started in July have an average construction price of $139,739. That figure reflects only the actual cost of construction. It excludes land, builder margin, subdivision infrastructure, and growth and connection fees.

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

The Meadow - Plan 23

2010-07-25T13:24:00.000-07:00

The Meadow has arrived! The perfect blend of style and budget, the Meadow combines affordability with the quality you've come to expect from Atherton Homes. The Meadow starts as a 3 Bed, 2 Bath, 1,877sqft single story home with a 2 car garage and a large covered patio. Optional layouts include a Junior Master Suite, Den, and additional Garage Storage (available on select lots).

Contact our Sales Office today for more information on the latest addition to the Summit Collection.

Manteca bucks trend again as taxable sales continue to gain

2010-06-18T12:32:00.000-07:00

Manteca taxable sales grew 0.8 percent in the last four quarters.

That meant the city ended up with $62,059 more in sales tax receipts compared to the same time period in 2009-10 based on state Board of Equalization figures.

It may seem minuscule but compared to other jurisdictions within San Joaquin County – as well as practically everywhere else in California – it was downright herculean.

Consider what was going on with commerce in Manteca’s neighboring cities during that time: Tracy taxable sales down 10.1 percent, Lodi down 11.3 percent, Stockton down 12.8 percent, Escalon down 15.0 percent, Lathrop down 20.5 per cent, and Escalon down 30.0 percent.

California’s taxable sales were off 11.0 percent.

Manteca ended the four quarters with $7,723,216 in sales tax.

“We’re still humming along,” City Manager Steve Pinkerton said.

Manteca has been the county leader in municipal sales tax performance for the past five quarters. The only other jurisdiction the Northern San Joaquin Valley that has had major growth in sales tax in any of those quarters was Riverbank.

Pinkerton noted the numbers included year-to-year numbers for Bass Pro Shops and Costco, two entities that account for roughly 5 percent of all of Manteca’s sales tax receipts.

The gain, though, is tempered by the fact sales tax sharing agreements to land Bass Pro and Costco for Manteca have to be paid. But even so Manteca’s municipal sales tax gains would be 5 percent better than the nearest jurisdiction which was Tracy that suffered a 10.1 percent drop in sales tax. Without Bass Pro Shops and Costco, Manteca also would have had a sales tax drop between 10 and 11 percent or roughly $770,000 in lost revenue in real number by about $385,000 once sales tax deals are squared. That means those two deals saved the equivalent of the full year’s pay of three police officers for an entire year.

As an added bonus, the two stores by simply being in Manteca swelled Measure M tax receipts by close to $400,000 to protect against any additional erosion of supplemental public safety spending generated by the half cent sales tax.

Pinkerton noted Manteca retailers benefit from additional consumer spending powered by the fact the city grew by 1,000 residents thanks to 304 new home sales in 2009. At the same time Tracy added a half dozen new homes and Stockton 120 new homes.

By Dennis Wyatt
Managing Editor
dwyatt@mantecabulletin.com

Home sales top $546M in 29 months

2010-06-05T12:23:00.000-07:00

Manteca homebuyers in the past 29 months have spent $546,413,000 snapping up housing deals in the resale market.

If the pace continues to year’s end, Manteca exiting home transactions will hit $611,620,000 during the three years encompassing 2008, 2009, and 2010. That will almost match the aggregate dollar values of existing homes sold within the city limits in the previous three years of 2005, 2006, and 2007.

“There is still very strong demand from buyers out there,” Realtor Tom Wilson said. “The market is undervalued and the multiple offers out there support that.”

Wilson, along with a number of other real estate agents contacted by the Bulletin, had a concern that the end of the federal tax credit of $8,000 for first-time buyers would slow down buying activity in the resale market. It hasn’t.

Wilson attributed that to the fact the market is undervalued and that most buyers understand that.

“You keep reading newspaper stories that say the real estate market is in the tank but it is a great market if you’re a buyer,” Wilson noted.

The amount of money being spent collectively just in Manteca proves Wilson’s point.

Despite a weakened economy and unemployment just under 16 percent, existing Manteca home sales are still attracting the same amount of money that they did during the last three years of the real estate bubble. The big difference, of course, is the price paid per home.

Realtors noted all cash buyers were rare until just three years ago. That means more people are putting their own money into homes while at the same time first-time home buyers who qualify for FHA loans are pushing hard to buy given the affordable market.

Wilson pointed out obtaining a loan is harder than when he started in the business more than 20 years ago. Even so, it isn’t stopping first-time buyers.

Wilson is working with a couple that missed out on the federal tax credit and would like to secure a piece of the $10,000 state tax credit before it expires but they don’t actually need it to make their deal work.

“It would be nice for them to get but it isn’t essential,” Wilson said.

As of June 1, existing Manteca homes that closed escrow numbered 473 for the year. At that pace the total sold by year’s end should hit 1,142 homes. That would make it the third best year ever behind 2009 at 1,211 homes and slightly behind 2008 at 1,165 homes. The fourth highest year for existing resales was in 2002 with 803 homes selling.

Another encouraging sign is the median selling price of those 472 closed deals. It is at $187,460 or where it was at in early April of 2009. The median selling price for 2009 in Manteca was $178,000.

If the trend holds it will mark the first year the median price paid for homes in Manteca has increased since it peaked at $413,000 in 2006.

By Dennis Wyatt
Managing Editor
dwyatt@mantecabulletin.com

Has Manteca bottomed out?

2010-05-17T14:12:00.000-07:00

Prices rise slightly after 14 straight quarters of falling...

The median value of homes changing hands in Manteca ended 2.5 years of freefall sometime during the summer of 2009.

Prices peaked in the first quarter of 2006 at $455,000 and dropped all the way to $190,000 in the second quarter of 2009 before bouncing up to $200,000 in the third quarter of 2009 based on data collected by the San Joaquin County Assessor’s Office.

Median selling prices edged back up to $205,941 by year’s end.

The data reflects both existing home sales and new home sales.

That is good news for the City of Manteca as it means property tax assessments aren’t likely to fall again but instead remain flat. Sales tax also appears to be doing the same thing - at least in Manteca - meaning the city’s deficit projection for the fiscal year starting July 1 is likely not to go higher than the previously estimated $3.8 million and could actually be slightly lower when taking all revenue into consideration.

That’s good news as many jurisdictions are expected to see more drop-offs in property and sales tax - the two biggest revenue sources for local governments in California.

The 2009 data provides the critical snapshot on Jan. 1, 2010 for determining tax assessments for the upcoming assessment rolls that are due out in July or August.

It is a significant turnaround from a year earlier when market data used to determine assessments plunged the value of property in Manteca by $500.3 million or a 14.7 percent drop. At the same time Tracy dropped 18.1 percent and Lathrop was down 15.7 percent, Stockton 12.9 percent and Ripon 9.6 percent.

The assessor’s data shows it is unlikely that existing homes under Proposition 13 will be hit this year with a 2 percent jump as allowed under the voter approved imitative since 2009 had negative inflation.

Realtor Tom Wilson noted the assessor’s data reflects what many real estate agents on the frontline as well as local investors believe has happened which is the Manteca market has indeed hit bottom.

“The market is starting to show signs of moving back to normal with equilibrium between buyers and sellers,” Wilson said.

Wilson is among those who contend the current Manteca market is undervalued even by today’s standards. The reason is many of the foreclosures are owned by investment groups and not banks. They do not have a handle on the Manteca-Ripon market and instead lump it into Stockton and Modesto when pricing foreclosed homes.

“This is still a good time for first-time buyers,” Wilson added.

But for how long is anyone’s guess. One carrot - the state’s $10,000 tax credit for home buyers - runs through Dec. 31. Wilson, though, pointed to California Association of Realtors tracking that projects the $100 million will be gone within 45 to 60 days.

“Sometime this summer that tax credit money will run out,” Wilson said.

Wilson cautioned not to expect the market to start climbing anytime soon although he does foresee the strong possibility of an “uptick” in prices to adjust for under valuation as a possibility on the relatively short-term horizon.

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

Manteca adds 1,258 residents during 2009

2010-05-02T11:49:00.000-07:00

Manteca had 68,847 residents on Jan. 1, 2010 based on State Department of Finance estimates.

It is the 119th largest city out of 480 in California. It was ranked 51st in numeric growth and 44th in percentage growth last year.

Manteca gained 1,258 residents in 2009. At the current pace the city should reach the 70,000 mark in 2011. That means it will have taken Manteca 11 years to gain 20,000 residents. The city’s population on April 1, 2000 was 49,255. Manteca’s population was 41,632 in 1990, 23,150 in 1980, and 13,824 in 1970.

The city has essentially doubled in population size in 25 years going from 32,545 at the start of 1985 when a 9.2 percent growth rate that year put the city at 34,000 residents sometime during the summer of that year.

Other population estimates for San Joaquin County jurisdictions are as follows:

• Lathrop, 17,969 residents up from 10,455 in 2000.

• Ripon, 15,468 residents up from 10,158 in 2000.

• Tracy, 82,107 residents, up from 56,929 in 2000.

• Lodi, 63,549 residents up from 57,011 in 2000.

• Stockton, 292,133 residents, up from 243,771 in 2000.

• Non-city areas of San Joaquin County, 147,035 residents, up from 130,066 in 2000.

• San Joaquin County overall, 694,293 residents, up from 563,598 in 2000.

The United States Census Bureau today is launching its door-to-door canvas to knock on the doors of households that didn’t mail back their 2010 forms.

Workers will identify themselves with a census ID badge that contains a Department of Commerce watermark. The census taker may also be carrying a bag with a Census Bureau logo. Census workers will not ask for citizenship status, Social Security numbers, credit card or banking information.

If asked, he or she will provide supervisor contact information and/or the local census office phone number for verification. If census workers are unable to reach a household member in-person, they will also attempt contact by phone to conduct the interview with the household member.

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

The Meadow has arrived...

2010-04-16T14:35:00.000-07:00

The latest addition to the Summit Collection has arrived. Plan 23 - The Meadow is a single story 1,877sqft home with 3 bedrooms, 2 baths, a large covered patio (Lanai) and 2 car garage.
Framing is nearly complete on the inaugural home located at 1095 Birch Run Way (Lot 225). Over $20,000 in incentive available with the purchase of this home in addition to the recently passed $10,000 New Home State Tax Credit. See www.ftb.ca.gov for details. Pricing starts at $297,990. Please visit out website at www.atherton-homes.com or contact a Sales Representative at 209-824-2071 for further details. Upgrade to an Atherton Home today!

2010 Tax Credit for New Home Buyers

2010-04-02T15:17:00.000-07:00

Important Update (04/01/10):

The 2010 New Home Credit and First-Time Buyer Credit begins May 1, 2010.

The New Home / First-Time Buyer Credits are available only for purchases that close escrow on or after May 1, 2010.

Applying for the 2010 New Home/First Time Buyer tax credits: Applications must be submitted after escrow closes. The new application will be available by May 1, 2010. We will deny the application if the 2009 form is used or if we receive the 2010 application before May 1, 2010.

Check this page often. We will add updates as they become available.

General Information: These tax credits are available for taxpayers who purchase a qualified principal residence on or after May 1, 2010, and before January 1, 2011. Additionally, these tax credits are available for taxpayers who purchase a qualified principal residence on or after December 31, 2010, and before August 1, 2011, pursuant to an enforceable contract executed on or before December 31, 2010. The purchase date is defined as the date escrow closes.

These tax credits are limited to the lesser of 5 percent of the purchase price or $10,000 for a qualified principal residence. Taxpayers must apply the total tax credit in equal amounts over 3 successive tax years (maximum of $3,333 per year) beginning with the tax year in which the home is purchased. The tax credits cannot reduce regular tax below tentative minimum tax (TMT). The tax credits are nonrefundable and unused credits cannot be carried over.

The total amount of allocated tax credit for all taxpayers may not exceed $100 million for the New Home Credit and $100 million for the First-Time Buyer Credit. However, since many taxpayers will not be able to utilize the entire tax credit, the legislation specifies that the $100 million cap for the New Home Credit will be reduced by 70 percent of the tax credit allocated to each buyer and the $100 million cap for the First-Time Buyer Credit will be reduced by 57 percent of the tax credit allocated to each buyer. We will allocate the tax credits on a first-come, first-served basis.

Only one tax credit is allowed per taxpayer. If a taxpayer qualifies for both tax credits, the law specifies that we will allocate the amount under the New Home Credit.

Taxpayers will not be eligible for either tax credit if any of the following apply:

The taxpayer was allowed a 2009 New Home Credit.
The taxpayer is under 18 years old. (A taxpayer who is married as of the date of purchase will be considered to be 18 if the spouse/registered domestic partner (RDP) of the taxpayer is 18 or older on the date of purchase.)
The taxpayer or the taxpayer’s spouse/RDP is related to the seller.
The taxpayer qualifies as a dependent of any other taxpayer for the tax year of the purchase.

New Home Credit: A qualified principal residence, for purposes of the New Home Credit, must:

Be a single family residence, either detached or attached.
Have never been occupied. Sellers must certify that the home has never been occupied in order for a taxpayer to receive an allocation of the credit.
Be eligible for the California property tax homeowner’s exemption.
Be occupied by the taxpayer as their principal residence for a minimum of 2 years immediately following the purchase.

Tax credit allocation:

A Certificate of Allocation will not be issued if:
- The seller does not certify the home has never been occupied.
- We do not receive the application and a copy of the properly executed settlement statement within 2 weeks (14 calendar days) after the close of escrow.
- We receive the application or reservation request after the total tax credits available have been allocated.
FTB's determination may not be protested or appealed.

First-Time Buyer Credit: A qualified principal residence, for purposes of the First-Time Buyer Credit, must:

Be a single family residence, either detached or attached.
Be eligible for the California property tax homeowner’s exemption.
Be occupied by the taxpayer as their principal residence for a minimum of 2 years immediately following the purchase.

A first-time buyer is any individual (and the individual’s spouse/RDP, if married) who did not have an ownership interest in a principal residence during the preceding 3 year period ending on the date of the purchase of the qualified principal residence.

Tax credit allocation:

A Certificate of Allocation will not be issued if:
- We do not receive the application and a copy of the properly executed settlement statement within 2 weeks (14 calendar days) after the close of escrow.
- We receive the application after the total tax credits available have been allocated.
FTB's determination may not be protested or appealed.

Applications: We will accept applications beginning May 1, 2010. Do not use the 2009 application. We will post more information by May 1, 2010.

Reservations: Taxpayers who qualify for the New Home Credit may, but are not required to, reserve a tax credit prior to the close of escrow. Reservations will become important as we near the $100 million cap for homes that may not close escrow before the cap is reached. To reserve a tax credit, the taxpayer and seller need to complete, sign, and submit to us a reservation request to certify that they have entered into an enforceable contract on or after May 1, 2010, and on or before December 31, 2010. A copy of the signed contract must be included with the reservation request. We will post the reservation form and details about the process by May 1, 2010.

If you are only applying for the First-Time Buyer Credit, you will not be able to reserve the tax credit before escrow closes.

Claiming the tax credit:

The taxpayer must receive a Certificate of Allocation from us to claim the tax credit on their California personal income tax return. The Certificate of Allocation will state the maximum amount the taxpayer can claim listed by tax year.
The taxpayer should refer to the 2010 New Home / First-Time Buyer Credit Publication for instructions on claiming the tax credit (the publication will be available by December, 2010).
Special rules apply to married/RDP taxpayers filing separately, in which case each spouse/RDP is entitled to one-half of the tax credit, even if their ownership percentages are not equal. For 2 or more taxpayers who are not married/RDP, the tax credit amount will have already been allocated to each taxpayer occupying the residence on their respective tax credit allocation letter.
If the available tax credit exceeds the current year net tax, the unused tax credit may not be carried over to the following tax year.
The tax credit may not reduce regular tax below TMT.
The tax credit is not refundable.
Any disallowance of the tax credit may not be protested or appealed.

New Arrival!

2010-02-20T10:59:00.001-08:00

Atherton Homes would like to announces the latest addition to the Summit Collection, The Meadow - Plan 23. This charming single story home ranges from 1,877 to 1,891 sqft and is available with 3 Bedrooms, 2 Baths or with 2 Master Suites, 2.5 Baths and a Den. A large Lanai (covered patio) and 2 Car Garage are standard for either layout, with optional Side Storage available on select lots. Pricing and availability will be announce shortly.

Please contact one of our Sales Representatives at (209) 824-2071 or visit our Sales Office located at 2517 Edgebrook Lane, to receive more information about upgrading to an Atherton Home today!

Manteca Retail Thriving

2009-12-11T14:09:00.000-08:00

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?

2009-12-05T11:28:00.000-08:00

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

2009-11-09T14:59:00.000-08:00

$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

2009-10-02T12:25:00.000-07:00

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...

2009-07-24T11:29:00.000-07:00

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

2009-06-21T11:04:00.000-07:00

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

2009-06-13T12:21:00.000-07:00

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

2009-05-24T11:37:00.000-07:00

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!!!

2009-05-08T10:41:00.000-07:00

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!

2009-04-17T15:50:00.000-07:00

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!

2009-03-27T12:37:00.000-07:00

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!!!

2009-03-06T15:52:00.000-08:00

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...

2009-02-17T13:44:00.000-08:00

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...

2009-01-25T11:43:00.001-08:00

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

2009-01-16T12:35:00.000-08:00

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

2009-01-14T10:23:00.000-08:00

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...

2009-01-12T09:53:00.000-08:00

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

Model Home of the week...

2008-12-22T09:35:00.001-08:00

If your looking for a new single story home in Manteca, look no further, Atherton Homes has just the house for you. The Jackson - Plan 16, ranges from 2,835 sfqt to 3,041 sqft, making it one of the largest new single story homes in Manteca. Starting at 3 bedrooms, 3 baths, Formal Living and Dining rooms, a Den and an larger than average 3-Car Tandem Garage, everything about this home is large. Room options available to convert the house to a5 Bedroom single story or optimize your Master Bedroom with a Retreat with included fireplace. However you decide to build it the Jackson - Plan 16 is large enough to fit all your needs and you're sure to not be disappointed. Large lots with RV access are now available. Model homes are due for completion late January 2009, but you don't have to wait that long. For a viewing of this home stop by 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.

Model Home of the week...

2008-12-15T12:13:00.000-08:00

This week Atherton Homes showcases one of the most popular new floorplans in Manteca, The Crest - Plan 20. Not too big and not too small this home is just right. At 3,400 sqft this two story home consists of 5 bedrooms, 4 1/2 baths with a Den, Dining Room and 3 Car Tandem Garage. Optional features include an exterior Lanai (covered patio) w/ gas fireplace, Bonus Room, ADA Compliant Bathroom downstairs and additional Garage storage available on select lots. When it comes to new homes in Manteca, The Crest - Plan 20 sets itself apart with a functional layout, flexible room options and elegant design. Large lots with RV access are now available. Model homes are due for completion late January 2009, but you don't have to wait that long. For a viewing of this home stop by 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.

Model Home of the week...(under construction)

2008-12-07T11:32:00.000-08:00

Each week until completion, Atherton Homes will spotlight a different model home and give a progress report regarding its construction. This week we've shown the spotlight on one of the crown jewels of the Summit Collection at Union Ranch, The Pinnacle - Plan 21. The Pinnacle combines beauty, style and functionality to create what is sure to be one of the largest and most desired new homes in Manteca. A two story, 4 Bedroom, 4.5 Bath home ranging in square-footage from 3,844sqft to 4,041sqft, including an Office and 3 Car Tandem Garage w/ storage area. Optional features include a downstairs Casita area with kitchenette, Bonus Room, Media Room, Wine Room and additional Side Garage Storage available on select lots. Large lots with RV access are now available. Model homes are due for completion late January 2009, but you don't have to wait that long. For a viewing of this home stop by the Atherton Homes Sales Office, located at 2517 Edgebrook Lane, Manteca, CA 95336 and ask a Sales Representative for a guided tour.

Going, Going, Gone...

2008-11-25T09:28:00.000-08:00

With the holiday season upon us, 2008 is quickly coming to a close, and so to is the River Collection at Antigua, an Atherton Homes community. With less than 10 homes remaining, this could be your last chance purchase in the fastest growing neighborhood in Manteca.

The development of the Orchard Valley shopping center, featuring Bass Pro Shop, Kerasotes Theatre, JC Penneys and Best Buy have made the River Collection at Antigua the place to be.

Large lots are still available as well as the model homes. Homes sizes range from 1,497sqft to 2,439sqft and maintain Atherton Homes quality of building by including more standard features than any other subdivision in town, while still be one of the lowest priced builders in the area. Making Atherton Homes the best new home value in Manteca. Stop by the Antigua Sales Office today and speak to a Sales Representatives about upgrading to an Atherton Home today.

River Collection at Antigua
1098 Collins Street
Manteca, CA 95337
(209) 823-9006

Atherton Homes Goes Green

2008-09-25T14:28:00.001-07:00

With more and more emphasis on energy savings and environmentally friendly business, Atherton Homes has taken the necessary steps to become a "GreenPoint Rated" builder. Already a PG&E Energy Star certified builder, Atherton Homes has gone above and beyond the basic energy conservation requirements. By utilizing compact fluorescent lighting, low energy-using major appliances, high-efficiency furnaces, advanced air infiltration reduction practices, Low-E double-pane windows and pre-wiring for a photovoltaic system (solar panels) as standard features, Atherton Homes has become one of the most energy efficient builders in Manteca. But it doesn't stop there. Atherton Homes also offers a comprehensive "Energy Efficiency Package" that will help you cut down on your monthly bills and leave you feeling good about being a part of the solution to high energy costs. Features in the Energy Efficiency Package include: ugraded insulation, radiant heat barrier in the attic, whole-house fans, tankless water heaters and Low-E Argon gas filled double-pane windows. Features may be purchase individually or to receive a 25% discount, as a package.

In addition to the Energy Efficiency Package, Atherton Homes now offers solar energy systems from BP Solar, the fifth largest company in the world and a leader in the manufacturing of solar energy panels with a 25 year warranty. Contact a Sales Representative for more information.

Technology Generates Sales!

2008-09-08T13:28:00.000-07:00

Manteca's latest new home community, The Summit Collection at Union Ranch, has gotten off to a fantastic start! With a handful of sales and a growing interest list, the Summit Collection is picking up steam. Thanks in part to some new and exciting technology. Model homes are under construction and are due to be complete by the end of the year, but you don't have to wait until then for a viewing. Stop by the Union Ranch Sales Office today and ask a Sales Representative to walk you through a virtual floorplan and design a custom brochure with the room options and elevation of your choice!

Union Ranch - Sales Office

2517 Edgebrook Lane
Manteca, CA 95337
209-824-2071
www.atherton-homes.com

Summit Collection Model Homes Coming Soon!

2008-08-17T13:01:00.000-07:00

That's right, you heard it hear first. Atherton Homes is about start construction of its Model Homes for the most anticipated new home community in Manteca, The Summit Collection at Union Ranch. Atherton Homes is currently offering pre-model pricing and generous incentives to Buyers who purchase before the Model Homes are complete. Don't miss out! Be sure to stop into the Union Ranch Sales Office and speak with a Sales Representative about reserving you new home today.

Union Ranch - Sales Office

2517 Edgebrook Lane
Manteca, CA 95337
209-824-2071
www.atherton-homes.com

New Home is Manteca, CA | The River Collection at Antigua by Atherton Homes

2008-08-09T11:19:00.000-07:00

"The River Collection at Antigua"

Looking for a new home in Manteca? Look no further. This Atherton Homes community offers the best of Manteca. Antigua is convienently located just south of HWY 120, on the corner of Union Road and Woodward Avenue providing easy commuter access. The neighborhood consists of 3 single story homes ranging from 1,497 sqft. to 1,940 sqft. and 1 two story home at 2,439 sqft. and contains the new K-8 Veritas elementary school and a 5 acre parksite. Additionally, Antigua is within walking distance of the new Orchard Valley shopping center featuring Bass Pro Shops, JCPenney, Best Buy and a new 16 screen movie theatre.

Currently there are less than 20 home sites remaining in what has become Manteca's fastest growing new home community. Don't miss out on this amazing neighborhood! Stop by Atherton Homes Sales Office today and reserve your new home today before it gone!

New Homes in Manteca, CA | The Summit Collection at Union Ranch by Atherton Homes

2008-08-05T07:43:00.000-07:00

"The Summit Collection at Union Ranch"

As the premier builder of new homes in Manteca, Atherton Homes proudly presents the latest in our long line of quality communities, the Summit Collection at Union Ranch. This upscale community is located in Manteca, just north of the intersection of Union Road and Lathrop Road, directly across from the Woodbridge 55 and older community by Pulte Homes - Del Webb. The Summit Collection employs Atherton Homes long range planning for all of its communities. A new school and parksite, bike paths, average lot size of 8,000 sqft and easy freeway access, all placed in a country setting are just some of the ingredients that help this neighborhood provide the best Manteca has to offer.

The Summit Collection consists of 3 spacious single story homes ranging from 2,128 sqft to 3,011 sqft, and 4 elegant two story homes ranging from 2,863 sqft to 4,343 sqft. Incorporated into every Summit Collection home is Atherton Homes exclusive “All the Essentials” program, which features many amenities that other new homebuilders classify as upgrades. Cambria Kitchen countertops, Whirlpool Gold appliances, ClosetMaid master closet organizers, Carriage style garage doors with openers, Honeywell home security systems and much more. Each home in the Summit Collection is the result of extensive market research. Each floor plan, an ideal combination of variables including home size, number of bedrooms and bathrooms, garages, lot size, exterior elevations and creative room configurations. The result is a community full of new home designs that meet the needs of you, the new home buyer.

The Summit Collection continues Atherton Homes 25 year history in the Central Valley and steadfast commitment to excellence in new home production. It is our goal to provide you, the new home buyer, with the best homes, in the best neighborhoods, for the best value. It's no wonder Atherton Homes has sold more new homes in Manteca in the last decade than any other builder. Upgrade to an Atherton Home today and let us "build it the wasy you like it!"