News

Classics at Trinity Park Sold Out

January 19th, 2010

Trinity Park New Homes in Sunnyvale, CA

Trinity Park by Classic Communities is a mix of California Craftsman and European Cottage styling that contributes to a genuine sense of place. Yards, porches, courtyards and abundant windows invite outdoor living and entertaining. This is the style of living the American Dream was built on and updated for today’s living standards.

After successfully selling the majority of homes in the community in 2009, only three homes remain available and they are expected to sell before the spring real estate buying season starts in earnest. So don’t wait — the available homes offer the perfect floor plan for large families, families with teenagers, multi-generational families or families that operate a home-based business!

Incredible Value! This is the best deal in Sunnyvale for a single-family and brand new home listed at $464 per square foot, compared with active listings at $545 and recently sold homes at $526 per square foot, respectfully.

Fabulous Livability! The plan 6 boasts approximately 2,530 square feet on two levels, with two separate master suites in the 4-bedroom, 4-bath layout. Buyers still have time to select interior finishes at Trinity Park’s three remaining homes.

Location. Location. Location! This is Silicon Valley Central, near major transportation hubs and roadways, shopping districts and most importantly, elementary, middle and high schools that rank among the best in the region, including Cupertino and Los Altos. Trinity Park is located in the heart of Sunnyvale, close to Highway 85 and Saratoga-Sunnyvale Road, and in a pleasant neighborhood.

Low Cost Comfort and Quality Construction! The plan 6 homes are designed to keep families cool in summer and warm in winter while at the same time, its courtyard setting offers great privacy and a wonderful environment for entertainment and family gatherings. Quality construction throughout, the Plan 6 is the most energy efficient home at Trinity Park and will lower heating and energy bills for the lucky few who live in a Plan 6 at Trinity Park.

Industry Veteran Sees Challenges and Opportunities Ahead In Housing Market

January 12th, 2010

Contra Costa Times
January 12, 2010

DANVILLE – Gary Ryness, a veteran of over forty years in the homebuilding industry and Chairman of The Ryness Company sees California’s housing market as providing both challenges and opportunities for buyers of new homes in 2010.

However, homebuyers must continue to sift through a barrage of misinformation about the housing market, in order to make an informed buying decision that best fi ts their particular situation.

“The truth is, new home prices (on a net basis after concessions) rose throughout the second half of 2009,” said Ryness, whose company issues the industry’s mustread weekly Ryness Report which tracks new home sales activities throughout California and other western states. “We reached the bottom over six months ago, yet people do not seem to know or believe that. Existing home prices continue to bounce around, but the impact they have on new home prices is negligible.”

Ryness sees a market correction coming in 2010. “As we run out of new homes to sell, they are currently not being replaced,” continued Ryness, who started his career in homebuilding in 1968. “The new home inventory is being steadily depleted because new homes are still selling well below replacement cost. For there to be enough new home starts to meet the demand in Northern California, prices will likely need to rise another 10% to 20% from their current levels. Until that happens there will be very few new home starts even if all the current inventory disappears.”

New home prices reacted about 6 months to a year before existing home prices adjusted, says Ryness. “From the peak in 2005-06, many parts of the San Francisco Bay Area saw new home prices drop up to 45%. In Sacramento and the Central Valley, the drop was even steeper. On the Peninsula and within the San Francisco and San Jose city limits, prices fell less.”

As Ryness observes, “News coverage in the press and on radio/TV primarily focuses on existing home prices, much more so than new home prices. But it’s important to separate the two and people should be aware of that distinction. In a well-performing market, new home sales usually make up no more than 20% of overall sales. That fi gure can be less than 10% in down market periods.”

Ryness was asked if there was a “buy point” where falling home prices intersect with rising mortgage rates, causing the on-the-fence homebuyer to take action. “The ‘buy point’ has already passed. Waiting for new home prices to fall and mortgage rates to fall further isn’t an effective strategy. That’s about as smart as waiting for the Dow to go back to 6500.”

One of Ryness’ fundamental premises is that when builders sell below their basic construction costs, there is no reason to believe additional inventory will be forthcoming. The public should understand that the current low price environment in new homes “will be gone before the headlines hit the papers.”

He suspects that one reason there hasn’t been the expected fl ood of existing home foreclosures (as predicted by doomsayers) is that the government isn’t exerting any pressure whatsoever on banks to clean up non-performing assets. As Ryness studies markets throughout California, he observes, “We’re seeing multiple bids on well-priced existing and foreclosed properties. The longer that continues, the sooner we’ll see prices rebound in response to the increased demand.”

Ryness also supports California Governor Schwarzenegger’s proposal of a new homebuyer tax credit that would apply to the purchase of existing as well as new homes. “We have a 30- 40% unemployment rate in the new home construction labor force. Creating more housing demand and allowing price pressure to occur in the new home arena will be the biggest step the state could take to stimulate job growth. We could end the Great Recession in California and get to single digit unemployment rates within six months.”

About The Ryness Company
The Ryness Company has been at the forefront of some of the nation’s fastest growing new home markets for nearly 35 years. The company provides strategic data, advice and counsel in such areas as land acquisition, market research, new home brokerage and marketing management. Gary Ryness has served on the Advisory Board for the USC Lusk Center for Real Estate and is a 2002 inductee of the California Building Industry Hall of Fame. He is also a recipient of the Legends of Residential Marketing Award from the National Association of Home Builders. For more information visit www.ryness.com.

Gold Nugget Winners Signal New Era in Housing Design

June 19th, 2009

Top projects in this year’s “Best in the West” architecture and design competition highlight trend toward smaller, greener, more affordable homes.

BUILDER 2009
June 19, 2009

By: Jenny Sullivan, Kathleen Stanley, Monica Stern-Morales
The Classics at Miramonte (Plan 3) Mountain View, Calif.
The Trend: Small lot development

What is it about a shingled house that looks just right no matter where it is? New England, California, the Midwest—many parts of this country can rightfully claim shingles as their own.

With its steep roof and asymmetrical front windows, this quirky, not-so-little, four-bedroom house looks right at home with its more traditional California stucco neighbors. That’s something that stood out for the judges. “When grouped with other diverse dwellings in this GreenPoint-rated community, the shingle-style home forms an intimate streetscape that brings back the eclectic charm of early 20th-century California neighborhoods,” commented one juror.

Inside, it’s all about efficiency and getting the most out of a 2,173-square-foot home on a 35-foot-wide lot. It has three stories, something that’s barely noticeable from the outside. The master suite is tucked into the third story, which has been a popular feature with prospective buyers. On the first floor, the open plan features a dining room, living room and kitchen, with an alley-loaded two-car garage off the back. The second floor is packed with three bedrooms, a loft, a laundry room, and one of the home’s 2½ baths. There’s even a tiny bit of yard in front and back.
Located within walking distance of Mountain View’s energetic downtown, the neighborhood is even selling well. Within three weeks of opening, 14 homes had been sold. This positive response has led the builder to start construction on the enclave’s remaining 44 homes. In this economy, that’s downright spectacular for homes that range from $1,079,500 to $1,099,950. –-Kathleen Stanley
Award: Grand for outstanding detached home on a compact lot 
Builder/Developer: Classic Communities, Palo Alto, Calif.
Architect/Land planner: Dahlin Group Architecture Planning, Pleasanton, Calif.