Thursday, August 13, 2015

Prove them wrong!

Some people are telling me I may have over-bought in the refreshments department for this evening's Twilight Open house. Come prove them wrong and have a glass of wine, or sparkling non-alcoholic beverage, some delicious cheese, or some of the other nibbles I'm providing. ...but don't feel bad if "they" turn out to be right -- I only bought stuff I'd be happy to have leftover.

Oh, and you really should come see this amazing house. It's pretty spectacular and it won't last long. With two floors of open & bright layouts (three bedrooms & 2 baths on the main level, and 2 bedrooms and a bathroom on the lower in-law level), private decks off each level's front and tons of usable backyard space, you'd be remiss to not catch this fantastically remodeled modern home in Redwood Heights.

Open this evening from 5:30-7:30pm. Pop by any time & help me prove "them" wrong!

Don't mind me. I'm just enjoying the #view of #lakemerritt from my client's new condo. #oakland #oaklandrealestate #beautifulhome #eastbay #condo #gorgeous


via Instagram @shannonkellyhomes http://ift.tt/1TxE5hP

Monday, August 10, 2015

How much did that house sell for & why are there so few sales?

We are in the "height" of the summer market, which is affecting inventory, buyers, and ultimately the number of sales. The Bay Area real estate market has been annually cyclical for as long as I can remember and it goes like this: 

Strongest Market: Spring (approximately March-May) Not only has the market been starved for inventory after the dredges of the holiday and winter market, but buyers are getting back into the market after taking the holidays off. Add to that, that it's just a prettier time of year. Houses look much nicer under sunny skies and with blooming flowers in the garden.
Second Strongest Market: Fall (approximately September - late-October / mid-November). People are back from summer vacations and ready to sell before the winter market hits mid-November.
Third Strongest Market: Summer (approximately June-August). The summer holds decent inventory, and committed buyers stick around to find their next home, but there is a dip due to people heading out of town for summer vacations. July & August tend to see the largest dip of the summer market as people get their last vacations in before heading back to school in September. Add to that, if you're living in your house while selling, it can be more difficult to keep it clean all the time when kids are hanging out all day.
Fourth Strongest (ie. Weakest) Market: Winter (approximately November (early/mid)-February). I get it, it's no fun to sell your house during the holidays -- keeping it sparkling clean and holiday-neutral so any potential buyer can see themselves living in the house can be a hassle. It's colder, rainier (with any luck), and muddier. Trees are bare and flowers are dead. Buyers are focused more on holiday enjoyment and social obligations than house hunting. And who wants to think about spending house money when you're out holiday shopping (side note: when house hunting, do not make any large expenditures and please, please do not max out any credit cards). But I think the winter gets something of a bum wrap. It is more difficult to find the perfect home simply due to lack of inventory, but if you can find the one for you, snatch it up & buy it. For you sellers out there, I'll offer the opposite advice: if you can wait until spring, wait for the strongest market of any year.





Thursday, August 6, 2015

Monday, August 3, 2015

But wait, there's more! How much did that house sell for? (Most recent list)

My last post had older data, this one is the most recent available. What's screaming out at me on this one?

Berkeley for the high bid win!


Even during the recession of 2008 & dramatic dip in the market that came with it, Berkeley home values (especially North Berkeley) suffered less than many surrounding areas. Berkeley continues it's its march onward with a property on Ward which closed last week for $1,659,000, 44% over it's $1,150,000 asking price. It is a beautiful traditional home with 4 bedrooms, 2 bathrooms, a glass enclosed sun room, a finished bonus space, and a lovely, level back yard. Not to mention that it comes with the current gold standard of most homes fetching benchmark prices these days: a high walkscore.