The foreclosure described in my Oct 26 2008 post:  has now closed escrow.  Sold Price is $710K.  The new owner is an experienced architect/builder planning a major renovation with the goal of selling the transformed home in a year or so. 

The ONLY other foreclosed home in Piedmont, a two Bedroom/one Bath priced at 769K, accepted an offer on Dec 8, 2008 is currently Pending. 

Students at Havens Elementary School in Piedmont will be relocated during the construction next year to a campus in Emeryville.   The Board voted 3:2 choosing the Emeryville site over several Piedmont options. Several weeks prior   to Tuesday’s Board of Ed meeting Piedmont Residents were encouraged to email their opinions to the District.  About 50% of emails from Havens parents were against the Emeryville site.  Parents of Beach and Wildwood Elementary Schools attended the meeting in full force and were in favor of the Emeryville site which is estimated to be a less expensive alternative by $500K-$2 M.  Their concern was that Measure E money for retrofitting Beach & Wildwood Schools would run out if a Piedmont site were selected. 

Video of the Jan 27 Piedmont Board of Ed meeting 

Measure E Bond Program    

Havens School Design & Mark Becker proposal 

Charts below are for all homes sold on MLS* in the city of Piedmont, and Oakland’s Rockridge & Montclair neighborhoods (94618 & 94611)  in 2007 and 2008. 

The Real Estate Market  in these areas is faring much better than the the numbers provided by the media in  the seven county Bay Area.

* Homes listed on MLS without square footage were not included.  Also excluded from the data; a  “land buy” in Piedmont.  (one bedroom home, 1000 sq ft, one acre lot sold in 2008 for $1.165M , $1,112 per sq ft).

Median Price in Oakland’s Montclair District inching closer to Jan 2008.

Photo above is a “pocket listing” from mid December 08 in Piedmont California.  Rumor has it there were two offers within a couple of weeks and the home sold for $3,500,000. 

The home is described as a “Statley English Manor” with San Francisco Bay Views. 

Home Details:

• >5,200 sq ft interior space

• lot over 1/3 acre & level yard

• four bedrooms/three baths

• architectural moldings in formal living & dining rooms

• wood-paneled library

• guest cottage

• brick terrace, garden & spa

• four covered parking spaces

On Jan 16, 2009 a four bedroom Piedmont Home priced at $1,495,000 accepted an offer just nine days after coming on the market.  Both sales are positive indicators for Piedmont’s Real Estate values in 2009.

The chart below compares the Median Price per sq ft in Oakland’s Rockridge neighborhood  throughout 2008 (black line) compared to 2007 (orange line) 

This does not necessarily mean prices have declined by that amount.  Median Price reflects which end of the market is selling.