Posts Tagged ‘Area’

Idahos Boise Area Real Estate Market ? Well Worth a Good Look

Saturday, September 4th, 2010

Idahos Boise Area Real Estate Market ? Well Worth a Good Look

With so much of the spotlight on over hyped real estate markets in boom to bust areas located in states such as California, New York and Arizona, Boise Idaho has just not appeared on a lot of peoples radar screens. However; there are some very important people who have been taking note of Boise Idaho and the Boise area real estate market.

Rated Number One

Fortune Magazine for instance, recently rated Boise Idaho number one in the nation in its 2005 list of best places to begin a career in business. Boise didn’t do so well with Inc Magazine however, because in that same year they rated the city number two in its list of the best cities start a business in. Life isn’t all work and no play, so it might be noted that Sports Illustrated rated Boise Number One Sports Town U.S. in 2004.

A Viable Market

These and so many other acallaides by numerous notable national publications and research centers have, of course had a profound effect on the Boise are real estate market. The result is that the devastating financial and economic shock and awe that has roared through so many other boom to bust market areas of the nation, has seemed to pass much more gently over the greater Boise area where homes are still being g bought and sold at a relatively brisk pace.

Still Affordable

For instance, homes can still be found for sale in the Boise area real estate market for as low as 0,000. These lower priced homes are also in very safe, livable neighborhoods and the Wall Street Journal recognized this fact by designating Boise Idaho as a retirees oasis in 2004. Also, with so many people now migrating to greener modes of transport, it may be well worth noting that Boise was singled out by Bike Magazine, as the Number one biking town in the U.S. in 2003.

Written by Antonious Driver. Find the best information on Boise area real estate as well as Boise MLS

Written by Antonious Driver. Find the best information on Boise area real estate as well as Boise MLS

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When Is A Down Bay Area Real Estate Market Going To Hit Bottom?

Thursday, August 26th, 2010

When Is A Down Bay Area Real Estate Market Going To Hit Bottom?

This has been a very hot topic amongst the nation’s top economists, professors and citizens. With many billions of dollars sitting on the sidelines watching the game, the magic question seems to be when is the market going to bottom out? It seems that many are waiting to get the deal of a century rather than recognizing the incredible opportunities that are here now.

The sad truth is that when there is a hot market of any kind for potential huge returns, there is also the byproduct of greed that comes with it. The average person is heavily influenced by the media forgetting that their job is to sell the news. They are after ratings and not necessarily going to report the complete small details that are prevalent. The bay area is a magical place unlike any other. It is home to a very wide array of things to do and home to some of the best weather in the world.

I have clients tell me all the time that the best time to buy bay area real estate is not now. The market is going to go down further and it will then be the best time. The truth is that no one has a crystal ball and no one can predict for sure when the market will completely bottom out. It is however; a good idea to keep in minds the simple rules of supply and demand. This of course is going to be somewhat contingent on what type of property is sought after. With the extremely high cost of property here, it is difficult, although not impossible, to find income properties that will cash flow without a substantial down payment. The bay area is an industry leader for high tech, biotech, finance, money markets, trading floors, engineering and many other skilled professions. We also need to keep in mind that the bay area is home to some of the finest universities in the world including Stanford, The University of California at Berkeley, The University of California at San Francisco and many others. If we take these elements into consideration and add the fact that there is very little land to build, it would seem that there is and will be a definite demand for housing now and in the future. So again we visit the question when is the best time to buy?

In my opinion, with the huge selection of inventory and interest rates as low as they are, the best time to buy is now. Many make the mistake of wanting to wait until the absolute bottom hits so they don’t lose any money. If a property that sold a year ago is being offered for twenty percent less today, is that a good deal? Of course it is. We need to keep in mind that in a short time the market is destined to rebound and the majority of us will only see the bottom of the market in the rear view mirror. A deal is a deal and if the price is right and one is ready to buy, do it.

The truth is that in many areas of the San Francisco region, the prices are not going down they’re going up. According to the latest numbers from Data Quick, The average median household value across nine bay area counties is four percent higher than it was a year ago. The closer you get to the heart of metropolis, the more the demand for that location. San Francisco, Marin and the peninsula have all gone up in value from this time last year. Alameda County is also us four percent from last year.

The bottom line is the bay area is a great place to live, work and play. There is a reason that it is expensive to live here. It is desirable! There are incredible deals for bay area property right now and who knows exactly how long it will last. Advise for people who are serious and actively in the market, find your property while the good deals are still here and be happy with what you’ve found.

Contact Team Enterprise for more pointers and tips or to answer any questions that you may have.

Matt Larsen is part of a group of real estate professionals in the Bay Area. Visit us online: http://www.teamenterprise.com http://www.mattlarsenhomes.com http://www.webproagent.com

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Horses Living In The California Area

Thursday, August 19th, 2010

Horses Living In The California Area

Mention sheep in California and some people will give you a bit of a novel look. Those who are unfamiliar with California with the immunity of violet country in the Napa Valley and chief cities like San Francisco, Los Angeles and San Diego, for example, might wonder exactly where people in California would keep their sheep. Of course, sheep have been reserved in California even into the fresh age, even by usual Californians.

Most famously, Californian Ronald Reagan owned pigs and was very fond of free on a torment, whenever he was at home. While the Reagan\’s taken the White House, both Ronald and Nancy were the proud owners of Arabian sheep. Ronald Reagan\’s pony was a white Arabian steed named El Alamein, gifted to him in 1981 by the Mexican President, Jorge. Nancy\’s stallion was a chestnut gelding named Catalina Muzraff.

Just as the Reagan\’s had their own running farm called, Rancho del Cielo, near Santa Barbara, California, to the north and west of Los Angeles, many Californian\’s have running ranches and farms in every alcove and crack of the stately.

Likewise, those who do their research will find that cattle in California don\’t just live on effective cattle ranches. At many of the disarray\’s Pacific Coast beaches, it\’s probable to have horseback riding on the seashore. The same is veritable for those who are visiting the kingdom\’s redwood forests, the Sierra Mountains and various other areas throughout the majestic.

That doesn\’t mean that all the pigs in California are only there for the allowance of those who are working on a cattle farm or for tourists, plenty of accepted persons who live in California also own livestock. After all, with a promo in tow, they too can take their mount and ride along the shoreline, on trails in the forests, in assert parks and even in the Sierras.

Many others look for pigs in California because, well, like anywhere also, they have an adore of the animal and have the pause to keep one. They know that they are able to take long rides in meadows and pastures. They know that their kids can promote from knowledge to worry for pigs (in truth, one line uses pigs in California to boost the character-regard and promotion abilities of kids and teens who are struggling). Others want to be able to work with pigs and series them for rodeo events and other competitions. In some California counties, stallion racing is a very general sport.

Therefore, when it comes to livestock in California, it\’s impossible to say that there is only a lone breed that is most regular. For those who are difficult in racing and exercise cattle for the racetrack, Thoroughbreds are a current option. Many want Arabian cattle for their beauty. Paint cattle are usual. And, of course, when it comes to ranch and rodeo sheep in California, the American Quarter Horse is as prevalent and customary as it is in Texas and Nevada.

When looking at sheep for selling in California, part of the surety will be made based on why the person import a charger, in the first place. Someone who is planning to work their charger on a ranch is not ready to look for a Thoroughbred or a warmblood mount; they are ready to look at the American Quarter Horse, or perhaps a Pinto or Paint cattle, because those livestock are better suitable to the buyers\’ wants. Likewise, superstar who is looking for livestock in California because they plan to train it for dressage are leaving to look for different livestock, than superstar who will be racing or simply riding relaxed.

It\’s important to have an understanding of steed breeds and what constitutes a vigorous mount when you\’re looking at an incline of horses for auction. The train of the mount\’s fuzz, teeth, trial and eyesight are important. The pony\’s hooves should be firm and healthful. The charger should have a hard muscle assembly and, those who are looking for horses in California know, the legs of the pony should be even and free of bumps and scars that could reveal a previous injury. Because not every injury a pony has sustained will be evidently documented or visible, it\’s forever important to have a mare checked out by a veterinarian before making a grip.

Despite the way people from across the world may perceive California in their heed\’s eye, horses in California are fairly popular and afford their owners with a great way to see some of the state\’s gorgeous landscapes. Choosing a mare is a count of understanding the object why you trade a horse, what breed of horse is best for that goal, and focusing on sentence a horse with the right disposition and temperament to form a long lasting relationship – something that\’s real whether you are buying horses in California or somewhere elsewhere.

For tips on horse pedigrees and horse behavior, visit the Horse Info website.

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All Fort Lauderdale Real Estate Area Homeowners In Foreclosure Need To Hear This

Wednesday, August 18th, 2010

All Fort Lauderdale Real Estate Area Homeowners In Foreclosure Need To Hear This

It’s bad enough that you are in a predicament like foreclosure. The pain and frustration of not knowing what to do can be maddening. Don’t compound matters by getting involved with a real estate agent who does not have the experience or know how to help you.


The government has recently made it easier to resolve your foreclosure by enacting the the Mortgage Debt Relief Act. This allows a homeowner in foreclosure to avail themselves of the short sale method of resolution to sell the property.


While the application of the law is quite technical, many Realtors are in the field telling their Fort Lauderdale real estate market clients in foreclosure whatever they want to hear without having any business doing so.


As millions of loans are now adjusting and as hundreds of thousands of those loans are in or headed for foreclosure, many homeowners are turning to real estate agents to help them in their hour of need.


Unfortunately, most real estate agents are not properly trained to handle the complexities of negotiating with a bank to successfully help the homeowner.


The agents are at a complete disadvantage as many do not even realize that they are in a negotiation with a trained troubleshooter whose job is to mitigate losses for the lender.


Most agents seem to be much more worried about how to make sure they get their commission than helping the homeowner escape foreclosure. In the states with the highest rates of foreclosure, it takes less time to become a real estate agent than it does to become a head cashier at Disney World.


In California you can become a real estate agent and begin selling homes by taking an “open book” exam that only requires a 60% grade or better to pass. In Florida, you can become a real estate agent by taking a one week class where they give you a simulation” of the answers in some courses, and in Nevada which has the strongest criteria, you can become an agent in as little as two weeks.


All three only require a high school diploma. Is this the person that should be handling the “negotiation” of your home in foreclosure? If this was not bad enough, now that we are in such a foreclosure crisis, most have had no experience in this type of market and are struggling to learn and complete what is called a “short sale”.


A short sale is where the lender agrees to accept less than what they are owed in order to facilitate a sale of the defaulted homeowner’s property. Most agents have had little, if any, prior experience in this regard and are using the homeowner’s property as a form of on-the-job-training!


All the while locking the homeowner into the most outrageous one-side listing agreement you could imagine. This is absurd! So we feel it’s important that a Fort Lauderdale real estate homeowner in foreclosure, or for that matter, a homeowner in foreclosure anywhere find out what they are getting into, or what they are already into, if they have already tied their hopes to the newly dubbed “short sale expert” real estate agent.


Here are “10 Questions You Need To Ask Your Real Estate Agent Before It’s Too Late!”


1. How many short sale transactions have you successfully completed? Do you have the MLS numbers of those that you have successfully completed? Remember they are licensed professionals and are not supposed to lie, but that’s another story.


2. How many current listings of properties do you represent that are in foreclosure? Can I have those MLS numbers?


3. Are you a full-time real estate agent devoting all of your time to selling my home and the other homes you have listed in foreclosure? This is a big one! Most real estate agents are in dire need and are only working in real estate part time. They are actually working in real estate as a side job. The worst part about this is they don’t have to disclose this unless you ask. Would you want your Doctor part-timing at Red Lobster?


4. How long have you been an agent / broker?


5. What formal training have you had in negotiating short sales? How much time did you spend in that training? Yes, short sales require specific training. Most agents have little if ANY experience in short sales or took a two hour course in their office and received some certificate calling them an “expert” or certified.


6. Please explain to me, in detail, what marketing you are performing in relation to the sale of my property? Can you please bring me over the ad sheets and invoices so I can see how much you are spending on marketing MY property? You will either laugh or cry when you find out that they can’t do this because they aren’t spending ANYTHING to market your property. You’re in foreclosure hoping your agent is busting their hump for you only to now ask and find out it there is little if any marketing being done.


7. I realize a short sale can not take place without a buyer. Do you have buyers lined up ready to go? You’ll love the answer to that one!


8. As I am in foreclosure and I have special needs, and I have a definitive timeline in which to get my house sold, can I terminate my listing agreement at anytime in case I get an offer that does not come from you?


I mean I have to, I must sell my home and I can’t be burdened with a listing agreement that obligates me if I find my own buyer and I am able to get out of foreclosure.


Will you release me if I find my own Buyer and can emerge from foreclosure? If you are allowed to cancel a listing, MAKE SURE IT IS IN WRITING! Sometimes agents have memory lapses and forget they told you this.


9. How many of your foreclosure listings have ended being auctioned off despite your “efforts”? I would like to know how many times you take listings and have not been able to produce a buyer? Can I have those MLS numbers? This is very important. Anyone can call themselves a short sale expert, prove it!


10. If I do get an offer, and it would allow me to get out of foreclosure, but it would mean there would be no funds left over for you to obtain a commission,would you first of all present it and second of all not stand in my way and chase me down for a commission?


After all, I think you would agree, I am in somewhat of an urgent situation.


By the way..we talked to the governing board here in Florida and an agent would have to forego commissions if it meant you were able to save your house from foreclosure!


Here’s a bonus question to ask … can you please give me your answers to the above questions in writing on company letterhead?


Let me save you the trouble Mr. Homeowner,your agent isn’t spending any money on your listing, short sales are the “in thing” right now and your agent has had no experience in short sales, and he has no buyers or else the home would not be on the MLS.


You might want to start packing if you do not carefully and thoroughly interview the real estate agent that comes knocking on your door.


We would be happy to assist any homeowner in the greater Fort Lauderdale real estate market or any homeowner in the State of Florida who is in foreclosure and needs help navigating the labyrinth of a short sale transaction.


Our professional team approach to foreclosures and short sales allows you to work with a one-stop shop. We have a property inspector, attorney, title company and experienced loss mitigators on our team ready to handle any foreclosure problem.

Robin Sing-Cunningham. Is a real estate agent serving Broward County, Florida. I live in Fort Lauderdale with my husband and I specialize in Fort Lauderdale Real Estate.

You can reach me at my Fort Lauderdale Real Estate Blog.

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2008 Winding Down With Bay Area Real Estate Purchases Revving Up

Monday, August 2nd, 2010

2008 Winding Down With Bay Area Real Estate Purchases Revving Up

The end of the year is upon us with the holiday’s right around the corner. It has been a very interesting, volatile and bumpy ride with the economy, stock market, Presidential election and real estate crisis. We witnessed some of our largest financial institutions go under, Fannie Mae and Freddie Mac both become taken over by the government and the stock market loose nearly 4 trillion dollars. We have witnessed world renowned business and economic figures such as Warren Buffet and Alan Greenspan in the spot light stating they have never seen anything like this. Our national debt has accumulated to unprecedented levels and our economy literally nearly collapsed. We have had numerous phone calls and emails from worried clients who are watching their retirement portfolios dwindle before their eyes and many have felt helpless. It is during these times that I recall a quote my father used to say to me “with every disaster there is always a gift on the other side”. What does this mean for real estate?

Right now is the best time to buy Bay Area real estate in the past twenty years. For those who have been waiting to purchase, the time is right now.

We are seeing more buying activity in the fourth quarter than we have seen all year. The market is rich with great deals and multiple offers are happening frequently. Many people have been waiting for the “bottom” to hit but the truth is most of us will see it in the rear view mirror. According to Data Quick, Bay Area sales are at the highest volume they have been in 17 months and median values are down 40% from a year ago across 9 Bay Area Counties. Investors and buyers have stepped off the sidelines and into the game. We will most likely see more purchasing activity in 09 with the window of opportunity closing in quickly. The buying frenzy has indeed been initiated and the heat is on. This is a very important step for all of us. Our economy needs to stabilize and homeowners need their property values to stop declining. Bay Area real estate for many is a good investment strategy if it is long term. In today’s market it is not all that bad to have a saleable, tangible asset instead of an extremely volatile stock portfolio.

Much of the purchase activity in the real estate market is with bank owned or “distressed” properties. We would like to put out a word of caution when dealing with these types of properties. Many of the lenders who own these are located out of state and have lengthy contracts that are drafted by their own attorneys protecting the banks best interest. The purchase contract in California is designed to protect the buyer not the bank. It is important to watch out for clauses in the banks contracts like their contract supersedes the interest of the California purchase contract in case of a difference between the two. It is also very common in the banks contracts to revert back to the passive removal of contingencies instead of the California contract requiring an active removal. A passive removal of contingency means that per the banks contract the buyer has a certain amount of time to do inspections, remove the appraisal and the loan contingencies. If that date comes and goes, the contingencies are automatically removed and the buyers deposit is on the line. The California contract requires the contingencies to be removed in writing with both parties signing and dating those removals. Make sure to be very careful when dealing with bank owned properties and that you are working with a professional who knows what they are doing. It is also a very good idea to have an attorney look over any agreement from a bank before you sign it just to make sure you fully understand what you’re getting into.

The real estate market most likely see a significant number of lawsuits arise in the following months largely due to bank owned and distressed properties. There will be many attorneys watching very carefully for negligent behavior and real estate agents and brokers should be cautious in their dealings. There is nothing to worry about as long as business transactions are done carefully and professionally.Real estate has made more people wealthy than just about anything and the Bay Area is no exception. This market is a niche and demand is always been strong. The population will continue to grow and the economy will remain a large player in the global economy.

Please contact Team Enterprise for more information or visit us online.

Best,
Matt Larsen

Contact Team Enterprise for more information and visit us online: 1-877-510-3948 Bay Area Real Estate

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The Dana Point Real Estate Area

Sunday, August 1st, 2010

The Dana Point Real Estate Area

A beautiful community of just over 35,000 residents is the southern Orange county city of Dana Point in California. This great beach community is well known for its surfing, fishing and especially whale-watching. Dana Point is known as the “Whale Capital of the West”, and in 1990, one of the very few known specimens of the megamouth shark was caught off its shore. The Dana Point real estate area is also designated as a California Historical Landmark.

Dana Point real estate was described as “the only romantic spot in California”, by its namesake, author Richard Henry Dana, Jr., in a visit to the area and neighboring San Juan Capistrano. Dana Point real estate began as a planned community by a developer. However, the economic depression of the early 1930s stopped the construction and by 1939, the original investors had sold out to private individuals. That tragedy did not stop the future development, which was revived in the 1950s, as today there are more than 14,000 homes, and Dana Point real estate continues to be desirable to people seeking a beach front retreat.

In addition to the city, Dana Point is also home to Dana Point Harbor, housing more than 2500 boats within two marinas. The full service Dana Point Harbor meets all the needs of ships and boats visiting or residing here, including guest slips, a fuel dock and an array of recreational choices. The harbor is also home to more than 17 dining establishments and over 30 specialty shops to appeal to the diversity of residents, tourists and visitors.

Purchasing a piece of Dana Point real estate also offers the chance for one to ‘get their sea-legs’, as many water related instructional classes are held at the community center. If you prefer the landlubber’s life instead, you could invest in the Dana Point real estate market just to live in a beautiful harbor city and still enjoy the magnificent whale watching opportunities from shore at the Salt Creek Beach. Here you can sit on benches that overlook the gray whale migration routes.

Each September the Tall Ships festival comes to Dana Point Harbor offering those fortunate enough to own Dana Point real estate the opportunity see some of the most magnificent vessels in the world. The festival is considered the largest annual gathering of Tall Ships on the West Coast of the United States, and features an amazing array of tall ships converging in and around Dana Point.

The California State Parks system also manages a nearby State Park called Doheny State Beach. Owners of Dana Point real estate are just a few miles away from this vacation hot spot. Comprised of over 60 acres, its main feature is the mile-long sandy beach with the best surfing and swimming in the clear blue ocean. In addition to the beachfront activities, the park also has a campground with 120 developed family campsites and a picnic area complete with more than 100 picnic tables and barbecue grills.

Learn more about <a rel=”nofollow” onclick=”javascript:pageTracker._trackPageview(‘/outgoing/article_exit_link’);” href=”http://pathrealestate.com/dana-point-real-estate/”> Dana Point real estate</a> and real estate in general.

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Why to Invest in Bay Area Real Estate

Friday, July 30th, 2010

Why to Invest in Bay Area Real Estate

For those people who have heard a lot about bay area real estate and want to invest in it, it is important to know which places are included in this area. This area includes the cities of San Francisco, San Jose and Oakland. You will be able to find numerous rich folks and headquarters of popular Fortune 500 companies in this area. The property in bay area is very expensive and it is really a wise decision to invest in it.

One can easily find a good job in this area as a large number of lucrative job options are offered by various big companies like Apple, Yahoo etc. All such companies are offering attractive jobs with high salaries to the people in bay area. The demand for the real estate in bay area is very high. Not only people from U.S, but from various other parts of the world want to purchase property in this area. All the people who are residing in bay area belong to high society and one cannot think of a better place to live, than this.

San Francisco real estate prices are really very high. It is true that only those people who have a heavy budget should think of acquiring a property in San Francisco. Financial experts suggest that people can invest in San Francisco real estate without any second thought. It is a fact that the price of real estate in San Francisco is increasing on a continuous basis. One should also pay attention to the high cost of living associated with bay area. It suggests that even if you purchase a property here and find a very good job, you will have to spend a considerable part of your earnings in maintaining your lifestyle in this area. One should take the help of real estate agents for buying a property in this area.

For more information about Northern California Real Estate and Bay Area Real Estate, please visit our website.

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Living in California and looking to relocate to the Greater-Metro Atlanta, Georgia area?

Friday, July 16th, 2010

Living in California and looking to relocate to the Greater-Metro Atlanta, Georgia area?

Purchasing a home for some, might be anxiety provoking. Relocating to another state and needing to purchase a home might be even scarier. Yet, with the right guidance like Apex Residential Properties, Inc. relocating to Atlanta and the surrounding areas, and nearby towns can be a smooth and a positive experience for the entire family.

We are a group of Real Estate Advisors and Real Estate Professionals specializing in the relocation process to Georgia. We understand the emotional and the financial impact relocating can have on you and your family. Creating a smooth and a positive transition  of the home buying process for those relocating from out of state  is our number one goal along with finding a home  that is a great deal, has the best value, and is  in the top school districts.

Atlanta is the  largest and most populous  Metropolitan area in the state of Georgia and in the Southeast. It is spread over a few counties: Fulton, Dekalb, Cobb, Gwinnett, Cherokee, Clayton, Douglas, Fayette, Henry and Rockdale counties. It has the fastest growth rate of any southeastern city. It is considered to be a top business and transportation hub. It is the world headquarters of the Coca Cola Company, AT&T Mobility and Delta Air Lines. The surrounding area contains additional corporate headquarters, including Home Depot and UPS. Atlanta has the nation’s third largest concentration of Fortune 500 companies and more than 75% of the Fortune 1000 companies have a presence in   Atlanta metropolitan area. Hartsfield-Jackson Atlanta International Airport, which is located seven miles south of downtown Atlanta, is the world’s busiest airport.

Whether  you are relocating for work, school, moving to be closer to family or retiring, we can assist. This service that we provide is free of charge. All it requires is for you to speak to one of our Real Estate professionals to guide you in every step of the way in the home buying process.You can reach us at 770-912-5056, or click on Dream Home Finder to let us know exactly what it is that you are looking for in a home, to enable us to customize a search for you. Or you can click on Georgia MLS Home Search  to start  the relocation process. You will not be disappointed. Let  ForSaleGeorgiaHomes.com help you find your new home. Opportunity knocks……… take the key…… and unlock the door to your family’s future!

 Welcome to Georgia!

 

With great experience as Real Estate Professionals,we help Home Buyers meet their real estate objectives. We have extensive knowledge of the Metro-Atlanta Area counties and we will work tirelessly on your behalf to make your next home buying experience a pleasant and a successful one because strong negotiation skills, and a commitment to providing excellent service are all crucial elements! So call 770-912-5056 or visit us at www.ForSaleGeorgiaHomes.com Opportunity knocks……open the door! Don’t miss out.We service the following areas: Marietta,Atlanta, Buckhead,Dunwoody,Sandy Springs, Roswell, Alpharetta and Duluth,East Cobb, Vinnings, Smyrna, and Kennesaw
Suwanee, Peachtree Corners, Norcross, Duluth, Buford, Sugar Hill, Lawrenceville, Sugarloaf, and Lilburn
Brookhaven, Decatur, Dunwoody, Morningside,Virginia Highlands.

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Bay Area Real Estate- No Bubble Burst

Wednesday, July 14th, 2010

Bay Area Real Estate- No Bubble Burst

Oakland California real estate shot through the roof during the period from 2001 to 2005, with appreciation reaching 120% in some areas. Homes were routinely selling for 60-100k over asking price and more! It was not uncommon for a desirable property to fetch 30-40 offers. I remember one home in the Oakland Hills went for over 300k over asking price!

However that type of market by nature is not sustainable, and the current market is proof of that. Starting in early 05′, us Realtors started seeing a noticeable slowdown in activity, which has continued to this day. The ironic thing is, prices are still high. They have taken a slight dip(approximately six percent) in the last year, but our median price is still around 500k. There is much more opportunity for buyers right now, because there are plenty of homes on the market which means buyers have more choices and more negotiating power.

Sellers have had to come to the realization that they can’t just get any price they want for their home, and the days of putting up a sign and the next day it’s sold for 60k over asking price are OVER. Sellers have to do more to prep the home for sale now, and staging is much more common. The most important thing of course if price though. I don’t care how nicely a home is staged, if it is not considered a value compared to the others in the area it WON’T SELL. This is, unless your home happens to have historical significance or is in an especially desirable area.

One example of an exception to the rule was a house that just closed last week in Piedmont. It had great square footage, (I personally viewed it on our office tour) but it was in need of a lot of TLC. The bonus was that it was in a particularly exclusive neighborhood in Piedmont and had been designed by a locally renowned architect. The agent also had contractors and interior designers at the open houses to help give buyers ideas. The home went on the market for .4 million, and ended up selling a few weeks later for over .7 million! Yes, 300k over asking price!

However the reality for most sellers of Oakland real estate today is that they need to price their home attractively and prepare the home for sale if they expect to get it sold.

Hamid Grinage is an Oakland Realtor

with Prudential California Realty. His Oakland real estate website lets you search the MLS for
homes in Oakland and surrounding areas 24/7

using the latest technology with no registration required.

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