July and August are historically slower months as agents and clients take vacations.
However, in the East Bay inventory has been on the lower side but committed buyers are still looking and writing often in multiple offer situations.
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My recent listing in Maxwell Park had good interest after the first open house and the sellers opted for just the one Sunday Open. They received 6 very nice offers. Why wait for more competition to come on!
I’m often asked what is the percentage to overbid…. there is no magic number!
Some homes are coming on priced too high or pretty much at market value.
Most buyers expect to bid over and may be scared away from writing on properties which come on at what is perceived as too high!
One characteristic of this market is sellers sometimes not letting their agent know what they really expect. It’s easy to get carried away with the value of your home when there have been several high price sales which may or may not be good comparables to yours.
If the seller comes on low and does not get the higher price they hope for, then we sometimes see a big jump up in list price to what they really want.
Conversely, sometimes a small price reduction will often encourage a couple of buyers to compete and bid the price up.
Posted in Uncategorized | 2 Comments »
It’s always a treat to help prepare a well loved home for market and the next generation!
Owned by the same family for over 40 years, it was a true family affair getting this 99 year old Temescal lady ready for sale!
Mum and daughters and sons in law spent many months clearing out the basement, weeded and planted the garden and worked around my usual crew of painters and contractors prepping the inside of the house.
Replaced the older countertop and sink and the vinyl floor, painted and refinished the bath
Removed wallpaper and tile on walls, redid vinyl floor, painted and replaced cabinet hardware
And here is the finished project in all its glory!
Located on a super street and perfectly positioned between Rockridge and MacArthur BART, Temescal hub on Telegraph, Piedmont Ave district and Rockridge!
Posted in For Buyers, For Sellers, Temescal | Tagged oakland homes, oakland real estate, Temescal | Leave a Comment »
For some uncanny reason the last 2 Oakland homes I lived in are on the market at the same time!
When we sold our home in 2006 we caught the market as it was starting to drop, not catching the highest price but happy we timed it when we did.
Below are charts showing the rise and fall of several east bay neighborhoods from 2005-2015!
If you’ve been waiting to sell the sellers market does not usually last for a very extended period of time!
Berkeley home prices have soared to new heights in the last couple of years. Always tight on inventory, prices never dropped as significantly as in some areas.
Piedmont prices have risen astronomically, with quality homes, easy commutes and schools ranked top 10 in the nation.
Rockridge homes have increased significantly in value due to proximity to urban amenities and the desire for convenience. Their fall was less precipitous than in many areas.
Glenview homes are being sought by buyers priced out of Crocker Highlands.
Montclair homes rose a little more slowly with many buyers liking the good schools but preferring walkable locations with a more urban vibe.
94602 includes The Oakmore, The Laurel and Dimond areas. Many of these homes are selling at record highs with the less pricey areas within 94602 still moving up in value.
Areas below MacArthur took a big hit when prices fell and had more ground to recover.
Redwood Heights has been slower to rise in value, despite the well regarded elementary school there is no central destination which drives other neighborhood prices.
Many homes in the 94605 zip code have not overtaken the height of the market but many have fully recovered values.
Expect to see the lower end of the market and condos continue to climb in 2015 as buyers are priced out of neighborhoods and compete for the more moderate end of the market.
Posted in Berkeley, East Bay, Glenview, Market update, Montclair, Oakland, Oakmore, Piedmont, Redwood Heights, Rockridge | Leave a Comment »
Once upon a time you paid more money to live in the Oakland Hills than in most parts of the flatlands. Schools had the better reputation, you were away from the urban bustle and grittier parts of city living and maybe you even got a lovely view of the Bay!
OK, so Rockridge hasn’t been cheap for a long time, but the boundary lines between which areas sell for more and which sell for less are shifting.
The bike riding 20 something and the down sizing 60 something continue to gravitate to the urban hub.
A few clips from recent sales showing the list price above and sale price….SP is the sale price. Multiple offers and strong competition for these homes in hot Oakland neighborhoods!
The Rose garden near Grand Ave and Lakeshore
Lakeshore near Grand Ave and Lake Merritt
North Oakland not far from Ashby and MacArthur BART
Piedmont Ave near shopping district and restaurants
Posted in Bushrod, East Bay, Lakeshore, Oakland, Rockridge, Rose Garden, Temescal, Uncategorized | Tagged oakland, Rose Garden | Leave a Comment »
Local Realtors know neighborhoods and then they also know desirable “pockets” between the more well defined areas.
This Cape Cod style home is located in one of those popular little pockets on one of two parallel predominantly level streets with sidewalks and an almost cul-de sac location.
Sidewalks make for easy dog walking, spotting the neighbors you haven’t seen for a few weeks and hanging out chatting while the kids cycle and skate up and down the block!
With a local grocery store, several restaurants , the trail head to regional parks , an easy commute and Montclair Schools zoning it’s easy to see why this location has a strong following!
Built for one of two sisters who wanted East Coast style homes a few doors from each other, this home was lovingly maintained by the original owner for many years. Updated and expanded with the addition of a guest suite or home office, the second owners are now moving on!
Around the corner is trail head access and a quick climb up to the top of the hill to Look out Point in Joaquin Miller Park.
Peek down on the Kearney homes below!
Posted in East Bay, For Sellers, Montclair, Oakland, Oakland Hills, Woodminster | Leave a Comment »
Walking around Lake Merritt is one of my favorite treats! With the wonderful new pathways and updated landscaping it’s an amazing resource for everyone who lives here. Figure on hearing at least half a dozen languages spoken on any given day, and keep an eye open for the herons , egrets and err yes.. the Canada Goose poop..
My current listing is a 2 bedroom 2 bath condo in one of the nicest buildings, the Merritt Royal, just across from the Lake. Come to this week’s open house Sunday 22nd 2-4:30pm
Many of the residents have been there for ages, and the building has better financial reserves than many… always a good thing with condos! No… you do NOT want your dues to be too low or you will be looking at special assessments down the road, think of dues as a forced savings account for when your home needs a new roof or a paint job etc!
Enjoy a great brunch at Portal and then go to Lake Chalet for happy hour or an evening desert
And for all the fun facts about Lake Merritt please visit this BLOG.
Posted in For Buyers, For Sellers, Lakeshore, View | Leave a Comment »