It’s All About the Good Food and Great Coffee!
What’s New?
Piedmont currently has seven active listings, which includes one new introduction this week: a large 5 bedroom Shingled Traditional in the heart of town. This wonderful home features formal living room with box-beamed ceiling, formal dining room, large kitchen with attached family room, five bedrooms up and hardwood floors throughout. Only a a stone’s throw from Piedmont High, the Piedmont Community Center and Exedera Park, you will want to see this quintessential Piedmont beauty on a charming tree-lined street – sooner, rather than later! As with the last two properties that were recently on the market in this intimate neighborhood, I would expect this lovely home to find new owners rather quickly.
Debra Dryden’s stunning Tudor listing on the Piedmont side of Montclair hits the market this Friday with well-deserved fan fare. This fabulous property features 3+bdrms/2.5 bths, sunken living room with original stone fireplace, wood beam ceiling and leaded glass, formal dining room, library, chef’s kitchen, extensive upgrades throughout and sparkling views! This stunning, architecturally significant Miller Warnecke home is not to be missed! Open this Sunday from 2-4:30. Price: $1,895,000
You’re in luck! Karen Starr’s stunning, remodeled Mediterranean listing in Crocker Highlands is still available. I’m a big, BIG fan of this terrific 3+ bedroom home with large media/game room downstairs and stylish detailing throughout on a large corner lot. If you are holding out for your “dream home,” this may very well be it. I wouldn’t wait until Sunday to see this Spanish-style stunner, as it very well could be pending before then. Offers as written!
What’s Coming?
With the Super Bowl behind us (congratulations N.Y. Giants fans – yes, I got it right this time) and with springtime just ahead of us (the daffodils are already starting to bloom) we should be seeing the real estate market bloom as well. Expect an influx of great homes to hit the market in the coming weeks – several with The GRUBB Co! (Call me for the inside scoop.) If you are currently looking for a home, I am functioning on a minute-to-minute basis.
A Buyer’s Market is waiting for those of you with vision! However, if you are sitting on the sidelines waiting for prices to hit rock bottom, you are more than likely going to miss the opportunities that are right in front of you. Are you missing the forest for the trees? Piedmont remains an excellent investment in a much sought-after community and why shouldn’t it? It’s the modern day Mayberry – or should I say, Mulberry?
What’s Pending?
If you think homes are being sold at a discount rate, they aren’t. Great property values don’t just apply to Piedmont – there are many sales that have gone in heavy competition throughout Oakland and Berkeley. Last week, an agent in our office sold her wonderful listing on Chabot in a matter of days, with more than eight offers! This meticulously renovated three bedroom, stucco Traditional with a converted garage was listed at $1,395,000, but sold well north of $1,650,000 – in Rockridge! To me, it’s all about the good food and great coffee.
Truth: Demand is enormous for the right homes!
I recognize this is a huge disconnect from the doom and gloom you read in the papers day after day; however, Bill Brown, president of the California Association of Realtors (CAR), announced last week that a “window of opportunity” exists for buyers over the next 24 months. Given the backlog of demand that is bound to build up while qualified buyers “wait out the market,” this will not last forever. Wait too long, and you’ll find yourself back in heavy competition (maybe sooner than you think) as the Rockridge story above illustrates.
If you are still convinced that obtaining a home below the list price is the current market – you are right! Reexamine properties that have been on the market for more than two or three months. These often represent motivated sellers who are very open to negotiation!
Will you be in a position to capitalize on historically low loan rates (less than 6%), potentially higher conforming loan limits, and the traditionally more competitive spring market? Call your loan broker today to take advantage of this Buyer’s Market.
What’s Happening Now?
The large Traditional on Mountain has been reduced from $2,850,000 to $2,650,000! This represents a significant reduction for a stately, centrally-locatd property. If this home has been on your radar, now may be an excellent time to reconsider.
The Piedmont Plug!
Perhaps you caught my opion piece in The Piedmont Post last week, regarding the “Becker Plan” for a NEW Haven’s Elementary School by 2010! If you agree with many of us in the community that the Becker Plan offers a very viable option, now is the time to voice your opinion as well. To sound off go to: www.pusd.org. It’s important!
While I purposely steer away from politics in The Perspective, this highly charged issue bears our attention from a real estate point of view. Speaking as a local REALTOR, our homes’ values are directly affected by the health and performance of our schools (even when we no longer have kids in the school system!). Great schools keep our property values appreciating! Let’s all do our part to ensure the continued success of these highly-coveted institutions.
See you next week!