We’re Talking Turkey Here! The Piedmont Perspective, Vol 75, November 18, 2008
What’s New?
Fall is well underway, the kids are firmly ensconced in school and the holidays are just ahead of us with all that entails including descending relatives, fine linens and pumpkin pies. (I’m already tired!)
This is typically the time of year when REALTORS start winding down their business and looking ahead to the spring market – right? Wrong! Unless you’ve been living on Mars, you know that this year has been anything but typical. You’ll need to dismiss old patterns and outdated models. Today is a whole new day!
Piedmont currently has 26 listings on the market, which is unseasonably high for the fourth quarter. While it’s true that there is a bit of a build-up of unsold inventory, the majority of these listings have come to the market since September and represent extremely motivated sellers. Moreover, committed buyers are returning to the market now that the presidential race has been decided and optimism is within reach.
If the traffic at my last few Sunday Opens is any indication of returning market interest, I believe we can realistically expect increased demand in the next several months – especially as people begin to make tough economic choices and many families reassess private versus public school education, where the average yearly tuition has now reached $28,600 (after tax dollars). Yikes!
Just for fun, I researched a few local private schools in Oakland, Marin and San Francisco and here is what one year of private education in these following institutions will set you back. (Are you sitting?) Brace yourselves:
Bentley $26,575 , College Preparatory – $28,600 , Katherine Delmar Burke – $23,300, Sacred Heart/ Convent -$21,600, Town School for Boys – $23,510, Marin Country Day School $24,095, University High $29,7000, Urban High School $30,750, and Branson – $30,315 !
Now multiply those figures by two or three children and by 13 years of education and the average family with two children can expect to spend a whopping $743,600 in today’s dollars on private school education before their kids reach college. Wow! That’s not chump change. We’re talking turkey here. Compare that to the cost of buying a home and the tax advantages that go along with home ownership, you stand to realize a significant savings. Between the two, that adds up to a lot of house. Have I caught your attention? (I thought so.)
You can see how a move to Piedmont makes good economic cents and sense for many families who prioritize education (as it did for my family five years ago). For San Francisco families who have enjoyed strong appreciation on their current homes, Piedmont, with its coveted public K-12 education, may well provide the education, the security, the piece-of-mind and the community they desire without breaking the bank (as it did for my family five years ago)!
Now that we’ve established why every family should move to Piedmont, send this e-column to a few of your SF friends and encourage them to give me a call. Winter offers the perfect opportunity to prepare one’s home for a successful spring sale!
Better yet – let me design and orchestrate a plan of action to bring them a successful result!
What’s Coming?
Debbi DiMaggio Betta brings 125 Estates to the market this Thursday for broker’s tour. This sun-filled, level-in, chic and sophisticated contemporary with sparkling San Francisco Bay views has an updated new master bathroom, refinished hardwood floors and features 3bdrms/3.5bths, dramatic living and dining rooms, large family room down, home office and master bedroom suite. Designer touches include: ebony hardwood floors, wall of windows, inviting decks, custom closets, granite counter tops and recessed lighting. Close to Montclair Village, the casual carpool, Hampton Field and easy freeway access! Open Thursday 10:00am-1:00pm and Sunday 2-4:30. Price: $1,395,000. www.125estates.com
The sweet and sunny 3bdrm/2bth home at 124 Ricardo Avenue offers plenty of opportunity for the right buyer. At $795,000 it also offers an attractive price. This home requires a new foundation and will benefit from a kitchen and bathroom remodel, but it’s location on a welcoming, tree-lined street, makes both the schools and Piedmont Avenue very accessible.
Anne Feste brings a unique opportunity to the market at 71 Dudley Ave in Piedmont. This large and enchanting estate on a nearly level park-like lot features 4bdrms/4bths, guest house and the possibility of a lot subdivide. The pool and gardens can be maintained with the help of the on-site well. (How often does one get to market an on-site well?) Private, country-like setting just minutes from the center of town! For more information, call Anne Feste at The GRUBB Co. (510) 339-0400/371.
What’s Pending?
As anticipated, Linda McClain’s brown-shingle listing at 224 Ricardo Avenue went pending very quickly with more than one offer and is set to close next week. Hint: the winning offer had great terms!
After dropping to $650,000, the distressed foreclosure on Scenic Avenue received six offers over the weekend and is awaiting a decision by Wells Fargo.
The “fixer” on Arbor Avenue is also in contract after receiving a whopping ten offers (yes, ten)! Bebe McRae of The GRUBB Co. crafted the winning purchase agreement which brings up an important distinction – The GRUBB Co. represents more buyers and sellers in Piedmont and Berkeley than any other East Bay firm.
Doesn’t it make sense to work with a GRUBB agent?
(Yes, it does.)
What’s Happening?
Anian Tunney has several listings not to be missed beginning with the Monterey Colonial at 92 Oakmont Avenue, now reduced to $939,500.
On Sunday, I held open the beautifully renovated 1920′s 3+bdrm/3.5bth home at 633 Moraga Avenue which is currently listed for $1,195,000. Just a hop, skip and a jump from Coach’s Field, this “turn-key” home received rave reviews for its care and attention to detail.
The classic 60′s home at 450 Hampton Road features 4bdrms/3bths, soaring cathedral ceiling, beautiful natural light, an open floor plan and a tranquil wooded setting close to Hampton Field. Price: $1,395,000.
Don’t forget about the magnificent Italian Villa at 50 Bellevue Avenue which is currently listed for $4,995,000. This grand 5bdrm/4bth Mediterranean in the heart of Piedmont was a featured kitchen on the CSL tour a few years back with good reason. The kitchen is extraordinary, as is the rest of the home.
Last, but certainly not least is my personal favorite – the stunning Cape Cod Traditional at 334 Sheridan Avenue, now listed for $4,685,000. This 5+/4+bth home with gracious formal rooms, inviting kitchen/family room suite, sweeping stairway with sitting parlor, gentlemen’s study and finished attic with game room has it all, including a wonderful central location. What’s not to love?
Each of these homes, regardless of their price point, offers tremendous value when compared to their San Francisco counterparts. Make an offer and see where it lands. Sellers have never been more negotiable!
To view these fine homes, go to: www.grubbco.com.
What’s Fun!
Mark your calendars for the 7th Annual Turkey Trot Thanksgiving morning. This local 5k tradition attracts both sprinters and walkers alike, starting in front
of Piedmont High at 8:30 am and winding its way through the town streets of Piedmont, to Hampton Field and then back again. Whatever your level of fitness, you can enjoy this fun event buoyed by the excitement of both the runners and the fans alike (that’s me).
Volunteers to man (or woman) the intersections are still needed. Contact Doyle O’Regan at 594-2768 or doyleoregan@yahoo.com.
Registration and course map available at www.active.com.
Proceeds benefit the cross country team. This is a great way to start the holiday and offset the calories that are sure to follow!
The Piedmont Plug!
With the holidays fast approaching and out-of-town travel a likely component of your weeks ahead, Cindy Fleming reminds me that the most comfortable place for you to leave your beloved pet is at home!
As sole proprietor of Wags and Wiggles, Cindy will provide daily walks and attention, administer medications, clean litter boxes, bring in newspapers, send email updates and adjust your home’s day/night lighting. How’s that for personal service? You get to enjoy your vacation and she gets to enjoy your pet. It’s a win/win!
You can reach Cindy at 510-547-4677 or at asapwagsandwiggles@gmail.com
Thanks to all of those who wrote and missed me last week. You can expect a Perspective every other week from now through the end of January. See you in two weeks!
THANKS FOR READING!
For more information about any of the properties or events listed above, please call me at (510) 339-0400 x264, or simply write me a jgardner@grubbco.com. I’d love to share my real estate tips and my experience in the Piedmont community with you!
Feel free to visit my website at JulieGardner.com for more information as well.