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Archive for the ‘For Buyers’ Category

I am so grateful for the opportunities I had in 2018 to help so many wonderful clients!

A BIG THANK YOU! to friends and clients who sent many of these people my way.

If you have a move in mind for 2019 I’m always happy to meet prospective clients, discuss options and put together a plan before the early Spring market gets going!

You can call me, text or leave a message at:  510-390-8101

 

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Let’s run the numbers…..but take the neighborhood breakdowns with a pinch of salt or twoOverall inventory was down a smidge in 3rd quarter. (It certainly seems to have picked up in October… after this report) as sellers scrambled to get their homes on the market, particularly those in the higher end.

One particular neighborhood shows sales prices are down by 25% from last year……. I don’t think so! A function of few homes for sale and not enough data to be meaningful…
Yes, it can now take MORE than 2 weeks on the market before sellers get an offer!
Agents have to gauge the interest and the response to pricing.

If the property is anything but a perfect “10” Buyers are a bit more cautious.
The news is distracting, so is the stock market..the weather is still great… buyers and agents are circling a little longer, is the property priced low, priced near value, priced a bit too high?
The market is less predictable, so it’s important to do your research!

Are we finally moving towards a more balanced market, where list prices are close to sale prices?? Maybe!
Are prices dropping? The high outliers from the Spring should probably be considered as such…. unless of course the property is a perfect “10”!


3rd Quarter market report

 

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How refreshing it is to present a warm and inviting home decorated by a true artist with a flair for color and style!

OK, so we know we’re meant to “neutralize” and beige turned to gray over the last few years and it clings to life with a few brave stagers battling to infuse COLOR into the picture!

So YAY!!

My latest listing is this stylish and colorful, warm and inviting Traditional split-level located in the Woodminster pocket neighborhood of Montclair.

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Adjacent to Montclair, and zoned for the same schools it’s considered Montclair by many who live there but has the best of both worlds with access to Montclair village and it’s own neighborhood shopping, restaurants and even the ex Montclair Hardware store!

Regional parks are just around the corner with trailhead access to Joaquin Miller Park and Sausal Creek.
Along with the Woodminster ampitheatre just up the road for annual musicals, music in the Redwoods, and the Greek Festival  with music, dancing and food just down the road.

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In 2017 I enjoyed helping clients buy and sell a variety of homes in the East Bay. I’m looking forward to another year of helping my wonderfully diverse real estate family!

Inventory traditionally picks up after Superbowl and the early Spring market is a great time to get started and prepare for a move.

I’m  happy to meet prospective clients , discuss options and put together a plan!

SOMETHING FOR EVERYONE!

 

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August’s Monthly report…

Buyers….Come on back!

Most local agents tell tales of buyers frustrated by their inability to get into contract and walking away from the market.
Inventory has been so low and there are not enough homes to meet the demand.
Trekking over from the city at the end of a long day or giving up chunks of each weekend, especially if you have a little one in tow is less fun after your 3rd or 4th rejected offer!
But wait………there’s good news! 
Inventory just did the annual post Labor Day pick up and we now have 2 consecutive weeks of more homes to choose from!
So buyers may do well to get back in the saddle and give it another shot!!

If you, or anyone you know, are thinking of getting into the market I’d love to hear from you! Now may be a good opportunity to get into contract!

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How high is enough?

Like it or not being successful in many things requires playing by the rules. Knowing the current lines in the sand is helpful when navigating the dynamic real estate playing field!

Buyers (and agents) groan about the current Oakland/Berkeley/Piedmont real estate market norm driving the “list low” phenomenon. The “worst offender” agents take flak but it’s “Catch 22” if sellers list closer to market value and nobody writes an offer thinking the expectations are 20% higher!

As you wrap your mind around the current real estate math, it can help temper your emotional response ( why don’t they list at what they want??!! I have to offer how much over asking??!!!) to know that the seller listed under market value and you are not necessarily overpaying when you add another $200K+ onto the list price for your offer!

The listing agents job is to get the seller the best terms and price, not to keep the buyer happy!                           

How can I make sure I don’t overpay?

The simplest answer is to see enough homes you know why you are offering what you are, and buy enough house that you can stay there for at least the next 10 years enjoying the benefits of a historically low mortgage rate and most likely riding out any market fluctuations.

Offers on a $1M home can frequently come in with a LARGE spread between them. A $500K spread between offers with the top 3 stepping up in $100K increments is not uncommon.
It’s true there are buyers who “just want to be done” and out of area agents who use questionable comps or don’t know the local dynamics but that is still your competition.

The only way you are going to be moving in to that house is by either paying more than anyone else, or making an offer with such superior terms the seller is willing to leave some money on the table from a higher but less compelling offer.

What about contingencies?

Most agents and their clients will be more comfortable when the market shifts and buyers can again compete with their contingencies in place.
Can you get into contract with contingencies?  “It depends” The trade off for contingencies is that something else about the offer needs to make it more attractive than non-contingent offers.

If the house is overpriced and sitting, or the seller provides no upfront information or there is something questionable about the property or your financing you most likely will not give up your contingencies.

However, most of the offers we currently see in competitive situations are non-contingent with perhaps 20% having 1 contingency.

Successful buyers in this market know the rules and have chosen to play by them, ultimately it’s your money and you decide what a property is worth to you!

Good agents are able to help advise on strategy, realistic parameters and when you might be able to bend the rules!

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San Francisco may have more cache but…. many say we have better views from the Oakland Hills and we get to look at San Francisco, Marin and the Golden Gate!
What could be better than a luxurious newer home, stunning views and the East Bay Park lands right outside your door?
All this and it’s less than 15 min drive ( Google it) to Orinda or downtown Oakland so you can enjoy life on both sides of the tunnel!

Luxury and comfort go hand in hand at 11 Observation Place.

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Take a walk through!

To view the Website click the image Below.

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