But on a local level, what is happening on Moraga Drive?
The amount of activity on the street has remained pretty constant with the amount of activity for the last few years. Currently there are 2 homes for sale, one of which was sold the first quarter of the year, has been fixed up and is back on the market, vs. none for the same time period last year. Both years had one house in escrow, and as you all know the Moraga Vineyard closed escrow this past quarter, and there were no closed escrows for the quarter last year. The leasing market for both years remained the same, nothing is available for lease nor was anything leased either year. Is the construction on the 405 and the surrounding streets an issue? It definitely is a pain in the neck, but at the end of the day, I don’t think so; the impact if at all is more likely the overall effect of the construction and its attendant traffic in the entire area., I do see people picking their time to come see property in the area more carefully and avoiding rush hour traffic.
