March 2010 Pete's Update Hi, everybody! The year has started out just as we had hoped--with lots of activity and multiple offers on several of our listings. We have also been able to find suitable homes for a good number of our buyers. Our open houses have been very busy and we are delighted to have a chance to meet with each and every one of you. For properties priced right it continues to be a seller’s market, as there are not enough good homes available for motivated buyers. In a normal market there are usually 3 to 5 active listings for each pending sale within the last 30 days. We call this “active/pending” ratio “taking the temperature of the market.” Walnut Creek, Pleasant Hill and Concord are all less than 2-to-1, which makes them strong sellers’ markets. Antioch is still the hot spot at 1-to-1. The ratio was 19-to-1 there in late 2007! At 4-to-1, Alamo and Orinda are the “cool” spots--in great part because of their price ranges, though still within the normal range. I expect the Spring real estate scene to be more of the same, at least until midyear when the government tax incentives are taken away. By that time we are hoping the economy will generate more jobs, thus creating more demand to offset the loss of this government help. The “X-factor” in this scenario is the possibility that a huge amount of foreclosure inventory could be dropped on the market by the banks. So far, banks have managed to work out short sale agreements with their borrowers or have been slow to bring their foreclosed inventory onto the market. One third of our business last year was either short sales or “bank-owned” properties; this year it could even be greater. We expect 2010 to be extremely active, which makes Andrea’s addition to the Torrey Team very timely. We thought it might be a interesting to hear some of Andrea’s first impressions of the real estate business since she joined us in October. Andrea’s Impressions Thanks, Zack and Dad! My first thought was how different retail sales are from real estate sales. I worked in retail sales management for four years before going into real estate full time. Retail sales are focused more on the product and the customer relationship is much shorter, time-wise. In real estate sales the salesperson acts more as a consultant or counselor, with the focus on the customer and his or her needs. This can turn into a long term relationship, existing long before and far beyond the closing of the sale. Some of our customers are folks that my dad counseled more than 30 years ago! Being a good real estate salesperson is about building relationships and gaining, as well as maintaining, trust. I am excited about the possibilities and look forward to hearing from you!

Pinecreek Road, Walnut Creek Spectacular, one-of-a-kind, appx 5500 sq.ft. Branagh-built estate in Northgate in a storybook setting for just $1,994,000! Countless extras include gourmet kitchen with butler’s pantry, entertainment center, spacious rich wood paneled office, master bedroom with french doors and Juliet balcony, 1.1 acre lot with spectacular pool and views, and much more! Listed by J Rockliff and PENDING SALE BY THE TORREY TEAM. Silva Court, Martinez Better than new, 4-bdrm, 2-1/2 bath contemporary beauty in the popular Foxwood subdivision adjacent to the Viano Winery. Countless extras include over 2900 sq.ft. of luxury in this 2008 Denova-built home that is fully landscaped and near top-rated Morello Park Elementary School, parks, commute routes and shopping. All for just $549,000! The Mercer, Walnut Creek Enjoy the good life! Luxurious 2-bdrm, 2-bath condo at the Mercer in the heart of downtown Walnut Creek for just $599,950! Walk to top restaurants, theaters, BART, and shopping. The amenities for this unit are terrific -- pool, gym, parking garage, concierge and much more! The Mercer is located at 1655 N. California Blvd. Contact us for more information! Walbrook Court, Walnut Creek New England accents abound in this gorgeous 4-bdrm, 3-bath Northgate beauty for just $799,950! Extras include gleaming hardwood floors, crown mouldings, custom fireplace mantel, remodeled kitchen, walk to top-rated schools, and large private yard! Call us for more information. Manzano Drive, Walnut Creek Spacious and gracious 4-bdrm, 3-bath Northgate Rancher with huge yard for just $829,950! Extras include stunning master bedroom addition, walk to top-rated schools, hardwood floors, oversized family room, and over 2500 sq.ft. of luxury! Call us for more information. Overlook Court, Walnut Creek Serene and lovely 3-bdrm, 1-1/2 bath mid-century home on huge .34-acre lot with spectacular views of Mt. Diablo. Extras include top Walnut Creek and Acalanes Schools, sparkling hardwood floors, fresh paint, and oversized basement/bonus room with additional half bath--could be 4th bdrm or in-law setup! Priced at just $649,000!

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