Gale Ranch Home Prices

There is a home to suit almost everybody in Gale Ranch from a small 3 bedroom townhome to a dramatic custom estate. At the time of writing, February 2008, home values have experienced a major down-turn throughout the country. Nevertheless, San Ramon home prices have been remarkably resilient and while it is obvious that, even here, prices are less than they were two or three years ago, they have not fallen as much as in many parts of the state and there are real indications that prices are stabilizing.

The chart below shows the average home sale price vs. the average list price for homes in zip code 94582 for the period from May 2006 to July 2007. That covers all homes east of Alcosta Boulevard in San Ramon and includes Gale Ranch and The Bridges as well as Windemere, Canyon Lakes and a number of smaller developments.

It is immediately apparent that the overall price change is quite small in zip code 94582 for this period. Perhaps surprisingly so when one considers the number of homes for sale in Windemere that have been listed for sale for long periods. It should be noted that Windemere's neighborhoods are built by a variety of home builders while Gale Ranch and The Bridges are all Shapell homes. This, combined with the fact that property taxes are much higher in Windemere (somebody has to pay for the new infrastructure!), explains why homes in Windemere tend to take longer to sell than those in Gale Ranch and The Bridges.

Right now, there are homes available in Gale Ranch from under $600,000 to just under $2.5m.

$562,500 will buy a nicely upgraded, light and bright 2 bedroom. 2.5 bath townhome in Vestrella at Gale Ranch. This is one of the oldest neighborhoods, built in 1997 and is understandably popular. Where else can you find a modern, attractive home in such an area for such a reasonable price. And for $625,000 you can buy a 4 bedroom townhome in the same neighborhood.

Detached homes cost a little more of course and at the time of writing, the lowest priced is a 3 bedroom, 2 bath single story home in Villa Paseo at just under $650,000. Note that this example is a short sale and therefore subject to lender approval, one of many sales that have come about as a result of the recent sub-prime mortgage scandal or just due to the decline in home values referred to above.

At the other end of the spectrum is a 5 bedroom 3 bath home at The Pointe. Almost 7,000 square feet of luxurious accomodation with award winning architectural design, an inner courtyard with fountain, true gourmet kitchen and beautifully landscaped grounds with panoramic views over the valley. All this for a little under $2.5m. What more could you ask for?

Bank Owned Properties (REOs)

We mentioned short sales above but another fairly recent phenomenon in our area is an increase in bank owned properties. These are homes where the owners were unable to continue to make their mortgage payments (or in some cases, simply stopped doing so because they had negative equity as a result of excessive financing) and as a result, the bank foreclosed on them.

Banks do not want own homes so in most cases, these homes are offered for sale at very attractive prices, often well below market. If you have a particular interest in bank owned properties, send an email to foreclosures@bernardgibbons.com and we will happily let you have details of all that are currently available here and in any other areas youmay be interested in.

Yes, there really is something for everybody at Gale Ranch and The Bridges. If you want to see full details of everything currently available, click here, and prepare to be amazed at the variety of homes. If you want to find a home here the easy way, yet be certain that you don't miss anything, click here to sign up for our free VIP HomeFinder service. We look forward to helping you to achieve your dreams.