Ruby Hill Home Sales in January 2011

Low inventories and a shaking out of the bank owned and short sales should bode well for Ruby Hill home sales and prices this year:

January 31, 2011                 Total           Bank owned share                       Short Sale Share

Active                                     11                  0                                                     0

Pending                                    7                   1                                                     0

Sold to date 2011*                  5                   0                                                     2

*COE 01/01/10 or later



Both of the short sale homes which closed escrow recently came on the market last year. 1026 Pineto sold for $2.95 million – it has 9,900 square feet of living space and a 35,000 square foot lot . The other short sale home on 3365 East Ruby Hill Drive sold for $3 million. Built by Doble and Son, it has 9,100 square feet of living space on a 27,000 square foot lot. The only bank owned home which was on the market since last year went pending – located at 1773 Via di Salerno! It looks like the short sales and bank owned homes are now gone from the inventory and will hopefully stay away!