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Posts Tagged ‘buyer’

As we’ve entered the Fall market many sellers still price low for competition, but some have set their expectations based on the frothier Spring market. Listing price strategy is all over the map! Some homes are priced too high, most are still priced too low and as Goldilocks might say …. some are priced just right!

Yoyo pricing is a phenomenon. Homes come on low to attract competition, the seller does not get offers as high as they expected, so they bump the price up to what they will accept, their “transparent price” If this is more than the market will bear…. and they want to sell, they then lower the price to somewhere in between.

“Buy it now pricing” may be used at the outset if sellers don’t like the idea of pricing low, they don’t wish to move out or stage or even come on the open market, and if they can get their “buy it now price” without doing so they will sell now.
The trick is for sellers to make sure they are not leaving money on the table by doing so.

Click image  for 3Q19 Market Update

 With pricing all over the map, buyers will do well to keep a close eye on days on the market and check in with their agent as to why a home is still available, and make sure to communicate their interest early on.

Transparent pricing and ” Buy it now” pricing may bring offers as written (no set date) and price adjustments often get other buyers off the fence and writing offers.

I’m always happy to discuss the market and your specific needs!

Jackie.Care@Compass.com 
510-390-8101

 

 

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Back when we bought our last house around 1998 we were considering schools and test scores and the Montclair hills seemed like the spot which best met our needs.

Although we were also very tempted by a couple of super charming homes -one in Adams Point with a gorgeous stained glass transom window and the other a craftsman style home near a wonderful pocket park in what is now more acceptably known as NOBE!

Fast forward about 20 years and the conversation I often have with homeowners in the Berkeley and Oakland hills frequently turns to
How is it possible homes in the hills are not worth more ?”

So here is a little chart giving some idea of relative appreciation over the last 20 years in the hills and the flats.
Yes, the hills were more expensive to start with, but a generational shift
is placing value on urban locations and Lakeshore is very tempting!

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That Magic feeling!

Every so often a home with that magic feeling comes on the market!

On Brokers tour the agents are “oohing” and “aahing” and say “I could live here!” and you realize you are not alone in responding to the home as you do!

The magical house does not have to be exceptionally fancy.

More likely it is unostentatious, more likely it has a wonderful interface with the outdoors… a place where you can imagine spending today’s precious down-time relaxing in comfort and looking out onto a beautiful garden or view!

How do you value a home like this?

You pull the comps, analyze the data and say…. However… this home is magical!
Data and logic invariably go out the window!

The winning recipe will undoubtedly be whatever the sales data indicates plus whipped cream and a very large $$ cherry on the top!

Will it appraise?
Quite possibly not. Is there going to be a buyer who doesn’t care, probably.

Like the world’s most valuable jewels and artworks a home with “ that magic feeling” is a rare commodity and gets valued accordingly!

closeup photo of pink petaled flower tree

Photo by zhang kaiyv on Pexels.com

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The holiday season saw somewhat of a seasonal slowdown as buyers turned their attention to the holidays. A few deals were had, many sellers tried the off-market ” Buy it now” pricing and some were successful. Shadow inventory which did not sell in the Holiday season and new inventory will be coming on soon!
Click on the image below to see the last quarter’s report

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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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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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This week I attended our quarterly Top Producers referral group meeting in San Jose. Agents from as far away as Sacramento, Carmel,Tahoe and Davis shared updates on their current market conditions and a variety of real estate related topics.

If you are looking to buy or sell outside of the Bay Area, I can usually provide referrals to great agents!

We have 30 year veterans and Millenials in the mix so it’s a nice cross section of different styles and approaches to real estate!

In general, the theme was one of “low inventory” with some markets slowing and others as competitive as ever, and “what is the next generation going to be able to afford?”
( Yes, we are only too aware of the down side to declining affordability)

The Oakland- Berkeley area seems to be one where buyers have become more selective this last quarter. Great houses are garnering the attention and high prices. Less than A+ or less strategically priced homes are sometimes only getting one offer or sitting. 

As we get into the holiday season it can be a good time for buyers who see potential in those “less than perfect” or less optimally marketed properties!

To check on the stats from the last quarter, Q3 -click below.

Pricing for competition is key….. sorry… no end in sight for those under market list prices at this time!!

 

 

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Cash offers and sale data

Cash offers and low inventory are creating a consistent story of heavy competition in all price ranges.

Looking at the chart for this years activity , the number of cash transactions is pretty staggering. This is just the closed deals.

The actual number of cash offers is much higher. Every single county is showing at least 25% cash sales and some are closer to 50%.

No… this is NOT all overseas money! It’s investors, buyers who have sold to buy, those who figure the banks are paying peanuts and have savings, those who’ve been siting on the sidelines, those with great bonuses, the affluent, the relatives who tell their fortunate kids it’s a great time to buy and can help out!

Some buyers pay cash to compete and then refinance to take advantage of the 60 year low rates.

So how does a buyer compete against cash offers?

Their offer has to be even MORE compelling…e.g fewer contingencies and usually … a higher price.
It’s risk versus reward……yes, the seller will kiss the cash offer goodbye, but it had better be worth their while to wait longer and take the risk inherent with any loan.

The combination of low inventory and the competition with cash are pushing prices up at a very steep rate.

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So many lovely neighborhoods in the East Bay!

I worked with many delightful clients in 2012 helping them sell or purchase in a wide variety of price ranges and neighborhoods.

From the urban hub near Lake Merritt or downtown Berkeley to treelined vistas and panoramic views in the hills there is something for everyone.

For those who are looking to sell in 2013, buyers are eagerly awaiting new inventory.

I’d love to hear from you if you’re considering selling or buying this year!

Click to view enlarged image

Click to view enlarged image

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1591 La Vereda is a custom built 5 bedroom 2 bath home enjoying a premium position in one of Berkeley’s most prestigious neighborhoods. On the market for the 1st time since it was built in the 60’s this home combines many artistic elements with an unusually practical floorplan and thoughtfully laid out space. The custom mosaic detail above the fireplace and the stained glass in the entry are by Ray Rice, a founding member of the Mendocino art center. Situated on one of Berkeley’s most coveted tree lined streets, steps away from UC and the gourmet ghetto this is a rare opportunity to own a piece of architectural history!

The grand redwood paneled living room has a vaulted ceiling and French doors with Clerestory window detail. The dining area which flows off the living room will accommodate a large table, and the space is ideally suited for entertaining or relaxing. Almost every room on every level has access to the outside with glazed doors to balconies or decks; ideal for our California lifestyle!
Upstairs is a spacious master bedroom with multiple built in stained wood closets and open beamed ceiling. There are two additional bedrooms, one with a delightful balcony and peek of the Golden gate bridge view through the treetops.
A bonus room on the ground floor offers additional space.

MORE DETAILS AT 1591LAVEREDA.COM

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