The Piedmont Perspective

Vol. 281 – The Heat is ON!

What’s New?

While I’m loathe to admit it, I’ve recently been suffering with symptoms associated with growing older. Without warning or provocation (or exercise) the heat is ON (!) and I am suddenly grabbing a fan, opening a window, stripping off my sweater, or kicking off the sheets at night in VERY dramatic fashion (Sorry Cliff).  This new found “heat” comes courtesy of my fifties and what seems to be a broken internal thermostat.

“Would you like to consider hormone replacement therapy?” my good doctor asked?  Really?  Has it come to that?

Yes, it has.

Last week, I actually stuck my head out of the car window like my dog, Buck, just to feel the breeze . . .  ahhh.  It seems there’s no end to what I will do in order to cool off just a little.  In short, my radiator is OVERHEATING -  AHHHHH!

“Overheated” may be the word used by many anxious Buyers (and their agents) to describe our current marketplace as each successive sale trumps the one that came before, but in point of fact, we may just be getting started . . .

It’s not just that multiple offers are back in play on the majority of homes we represent, it’s that the level of play has jumped so dramatically from where it stood one short year ago, and more surprisingly, that CASH has played such a major role in this acceleration (48% of transactions have traded in “all cash” offers according to current statistics).

As a result, getting Buyers into the homes they desire, has been challenging at best.  At worst, the rapid growth has priced many Buyers out of the home buying market altogether.  But for everyone involved – consumers, agents, mortgage lenders, appraisers, and escrow officers (just to name a few)the Spring Market has shaped up to be the most competitive marketplace to emerge in years.

In truth, sales have been so robust that any past formulas we used to position our clients for success, no longer applies.  While it’s no surprise that “value” is a moving target (heck, it’s always been a moving target), the speed of acceleration has caught many people off-guard. Frankly speaking, it should no longer surprise us to hear about sales that came in 25%-40% over asking (!) but it does. The result being that there’s often a HUGE CHASM between the list and the sales price – and a troubling disconnect.

Unfortunately for Buyers (fortunately for Sellers) this upward trend is now the new norm.  As such, adjustments are required if we are to compete in a meaningful way. Therefore, I encourage you to “flow with the river” IF home ownership is the intended goal.  And try this on for size, even though the market seems more expensive, it’s actually more affordable to buy.

“Can you send us some comps?”  I’m often asked by earnest Buyers as we begin to formulate an offer price.

Why yes I can, but they’ll be of little real value.

“How much should we offer?

In reality, last week’s ceiling, is this week’s floor, AND if I could tell you exactly where each property will trade, I’d be the most sought after woman in real estate (no joke).

By way of illustration, I’ll share a story with you that I was told by a friend who bought a decade and a half ago when the market also had tremendous velocity and “heat.”  Like most Buyers, the question they needed answered was: “How much should we pay?” and without missing a beat, their astute Realtor said, “As much as you can.”  They did and the home they thought they “overpaid” for then, is now worth far more today.  That’s a repeating theme for many of us, in any decade. (my neighbor paid $60,000 for her home and often tells me what a ‘stretch’ it was at the time.)

“I refuse to play that game,” one Buyer recently told me in no uncertain terms. “We’re too pragmatic to get caught up in a bidding war.”

I completely understand and I say this with all due respect – this is not the market for you.  Step out and step off.  Like all cyclical investments, this too will adjust. We just don’t know when.

Which is often the very next question I’m asked: “So when will the market slow down?”

I wish I knew. I can only ever speak to the market in which we are in or put another way, “hindsight is 20/20.”  It could be weeks, months or years before we see a change or correction.  Much of it depends on “supply and demand” and the economy at large, not just nationally, but internationally as well.  If it’s any consolation, we do appear to be cooling off just a bit now that more inventory has hit the market and summer is just around the corner.  With families focused on graduation, this weekend might prove to be just the quiet breath you were looking for  - or not.  Only time will tell.

Speaking of breath, I need to catch mine.  All this fanning is a real work out.  I’m getting hot – again . . . (What’s a woman to do?)

What’s Coming?

5955 Rincon Drive, Montclair

Please join me at 5955 Rincon Drive in Montclair.  This hip and sophisticated 4bdrm/2bth Mid-Century oasis features an inviting open floorplan, floor to ceiling windows, sleek designer decks with Bay views, sunny and spacious eat-in kitchen, professionally landscaped gardens featuring native plants and a bocci ball court, and a perfect setting for entertaining or quiet relaxation. Close to Montclair Village, the Sunday Farmer’s Market and easy commuter access.  List price: $787,000.  Open Sunday, June 9 & 16 2-4:30pm. Offers Tuesday, June 18, by appointment.   www.5955Rincon.com

 

72 Huntleigh Drive, Piedmont

Anian Tunney’s newest listing is a spacious home at 72 Huntleigh Drive in Piedmont near Hampton Field and features 7bdrms/4+bths and a BIG family room off the kitchen.   List price: $1,895,000. Open Sunday, 2-4:30pm. www.grubbco.com

 

114 Crocker Avenue, Piedmont

Mindy Scott brings a beautiful 4bdrm/3bth Mid-Century to the market at 114 Crocker Avenue in Piedmont. This spacious and beautifully maintained home offers all-level living, spacious formal living and dining rooms, open updated kitchen & family room, and easy, breezy indoor/outdoor living in the form of an incredibly inviting level rear garden.  List price: $2,200,000. www.grubbco.com  (Don’t delay, this beautiful home already has great interest.)

(These are just a few highlighted properties for you to consider.  For a complete Sunday Open House Guide, please contact me and I’ll be happy to send you an Ad Review each week.)

What’s Happening?

Properties are still moving into contract very quickly.  On average, good listings are selling in just 12-14 days, which means you need to make a swift decision and be ready to close FAST.  (Please speak with a qualified mortgage lender prior to falling in love . . .)

With news that interest rates have crept up, placing jumbo loans at, or above, 4% (still CHEAP money relatively speaking) it’s time to get serious.  (Time truly is money.) Increased interest rates translate into a direct loss of purchasing power.

I will be in NY next week for my husband’s high school reunion.  See you in two weeks!

Building Community, one Family at a Time!

Vol. 280 – Shouting from the Rooftops!

What’s New?

“I want your wife writing for my son, Cole,” Stuart told my husband.  “I always know what’s happening in Tristan’s world.” (Guilty, as charged).

Aside from the fact that A) I am an incredibly proud mother, B) the Piedmont High School team is having an amazing post season having just qualified for the North Coast Sectional FINALS (!), and
C) baseball, as a general rule, provides great analogies for life, it’s been my experience that the more accessible the stories, the more you relate, and the more likely you are to actually read the pieces I write.

And yes, my family has learned to live with the exposure . . .

The parallel with respect to cheering at a ball game or successfully marketing a home is that they both benefit from shouting from the roof tops, but without aggressive marketing by way of enticing descriptions, excellent photography, well-attended Broker Tours, and a strong Internet presence, it’s far too easy for your home to get lost in the crowd (and what are you paying your agent for, if not to create real BUZZ ?).  My job IS to sing your home’s praises, and at the risk of tooting my own horn, I’ve honed this skill to a fine art.

This isn’t always as easy as it sounds (not all homes are created equal) nor do they all attract the same level of attention.  Some homes are more emotionally appealing; others have benefited from artful renovations and creative landscaping; while others, have commanding views or highly coveted locations, making them much easier to sell.

Even so, there is an inevitable “cooling off” that ultimately takes place with respect to both timing and pricing as spring gives way to summer, and vacations take priority over house hunting.  AND as more inventory becomes available, we are quickly reaching what my Broker, John Karnay, astutely refers to as “cruising altitude.”

Plainly speaking, there’s only so much appreciation the market can accommodate, thus the line on the graph, doesn’t move steadily upward, but rather, it levels out, corrects, and moves up again.  So while the Bay Area is experiencing the most dynamic marketplace it has seen in many years (and the largest single jump year-over-year according to national reports) many of the unbelievable results have been cleverly engineered through aggressive pricing, buoyed by lack of good inventory.

That’s the piece both Sellers and their agents need to keep their eyes on – available inventory.  But what often happens as prices steadily climb, is the false assumption that listing prices should steadily climb as well. In other words, should the “floor” be raised substantially in order to better reflect market results?

Not necessarily.  In many cases, the surprisingly high selling price of a specific property came about because the house was intentionally and strategically priced well below “market” value.

Do I believe unrealistic pricing is misleading? Yes. Is it frustrating for Buyers who have to realign their expectations in order to compete? Yes.  Has the list price essentially become the “opening bid?” Yes ($1.7 is the new 1.3). Do experienced agents prefer this pricing? It depends on ALL of the moving parts.  Is this strategy benefiting Sellers in a meaningful way? Yes!

Which isn’t to say that “realistically” pricing your home doesn’t make sense as it did on a recent sale of mine where the Sellers were unwilling to roll the dice and part with their home for less (purposely underpricing isn’t without inherent risks). But if you are content with one or two qualified offers, than by all means, consider pricing your home “realistically.”

However, let’s concede that nearly EVERYONE covets the perceived “deal,” even when it doesn’t ultimately play out that way.  And under no circumstances, should you ever price your home on the high side – even in today’s super charged world.  Chasing the market, as opposed to setting it, rarely ever plays out in your favor.

Finally, “strategic pricing” works in this day and age, BECAUSE Buyers  have renewed interest in owning real estate, the cost of borrowing is at an all-time low, there is a tremendous amount of equity at play, and there is too little inventory to meet demand.  Obviously, this strategy wouldn’t have worked in 2008 when the markets had all tumbled and Buyers were running scared.  (You have to correctly assess – and play – the market you are in.) Either way, buying a home any market, especially in a very aggressive one, requires great faith in the future.

Hey, I’m just the messenger and I am here to provide my experience, (strength, and hope) but ultimately, you will decide which path best serves you.  In the meantime, I WILL keep heralding your beautiful home and making sure the market finds its way to your doorstep – post haste.  And yes, Stuart, I will keep telling stories and doing my best to grab your attention. (I’m so pleased to count you among my growing readership.)

Would you expect less?  Now, how can I help you?

What’s Coming?

5955 Rincon Drive, Montclair

Look for my newest listing to debut this coming Thursday, June 6, at 5595 Rincon Drive in Montclair.  This hip and sophisticated 4bdrm/2bth Mid-Century oasis, features an inviting open floorplan, floor to ceiling windows, sleek designer decks with Bay views, sunny & spacious eat-in kitchen, professionally landscaped gardens, and a serene wooded setting. Close to Montclair Village, the Sunday Farmer’s Market and easy commuter access.  List price: $787,000.  Open Thursday for Broker’s Tour, 10am-1pm & Sunday, June 9, 2-4:30pm. (photos up next week)

72 Huntleigh Drive, Piedmont

Anian Tunney’s newest listing is a spacious home at 72 Huntleigh Drive in Piedmont near Hampton Field and features 7bdrms/4+bths and a BIG family room off the kitchen.   List price: $ 1,895,000.. Open Sunday, 2-4:30pm. www.grubbco.com

(These are just a few highlighted properties for you to consider.  For a complete Sunday Open House Guide, please contact me and I’ll be happy to send you an Ad Review each week.)

What’s Happening?

Properties are still moving into contract very quickly.  On average, good listings are selling in just 12-14 days, which means you need to make a swift decision and be ready to close FAST.  (Please speak with a qualified mortgage lender prior to falling in love . . .)

With news that interest rates have crept up, placing jumbo loans at, or above, 4% (still CHEAP money relatively speaking) it’s time to get serious.  (Time truly is money.) Increased interest rates translate into a direct loss of purchasing power. (Thank you Nina Jones, of Wells Fargo, for the heads up!)

The Piedmont Plug!

 

One More to Go!

Fellow blogger, Laura Polchop of Mulberry’s Market, said it so well that I’m stealing her words practically verbatim (with her permission of course.)  Thank you Laura, I owe you one.

This year’s PHS varsity baseball team has all the elements of a riveting drama: come-from-behind victories, Salutatorian pitchers, extra-inning playoff games, Athlete-of-the-Week designated hitters, and very hoarse parents!

Please join us tonight to witness this Cinderella story live, and to root for the home team.  Just head over to St. Mary’s College in Moraga at 5:00pm for the final NCS Championship (North Coast Sectionals)  game against #1 seed St. Mary’s High School.

It promises to be another tough game, but our guys have the right stuff to come out on top.  Good luck Highlanders (and don’t forget your purple & white)!

Building Community, One Family at a Time . . .

 

Vol. 279 – I’m “Following” You!

 What’s New?

“I’m challenging you to post your first ‘Instagram’,”my sister’s text message said. “That way we can ‘follow’ each other.”

(Ugh, do I really I have to learn another piece of technology?)

Jill has been after me to “get with it” for months now. Having essentially given up on Twitter and Facebook as too “me-centric” (my feelings – not her’s – and certainly not our kids’ ENTIRE generation which seems to have abandoned all privacy at birth) she’s encouraging me to skip right over to Instagram, Houzz, and Pinterest - sites that appeal to instantaneous gratification and operate in the here and now.  Together, they are a veritable smorgasbord of visual stimulation.

“You will stay better connected to your clients and in return, they’ll get a better sense of your personal style and who you are,” she instructs. (Gee, I thought I was doing a pretty good job of that already . . .)

And then she went in for the kill . . .

“Nobody reads anymore, we live in a visual world.  It’s all about the photographs.” (So I’ve been told.)

Here’s the thing . . .  Jill is the mother of GIRLS, so she’s able to take advantage of the X-chromosome; which includes sharing, shopping, and often, sharing about shopping. (I’m exhausted already.)

Whereas, cracking the “cone of silence” that constitutes my boys’ worlds, would require heat lamps, a two-way mirror, and hours of rigorous interrogation and even then, I’d probably only get a name, rank and serial number.  I swear, Case is going to call me one day (strike that, TEXT me one day) and report that he got married a few years back, is now a parent himself, and oh by the way, lives in Spain! (Can you please send money?)

Meanwhile, Jill’s girls have essentially created a veritable photographic diary, whereby they send their mother artistic photos of intriguing scenes that catch their eye throughout the day.  Ensconced in Seattle for college, Anna consistently posts photos of the trees in bloom, the boats on the bay, her semester abroad in Amsterdam, and a lovely little sweater she’s admiring . . .

“We’ve never been more connected,” Jill sweetly proclaims.

(Okay, that’s just salt in the wound . . .)

Try as I might, it’s incredibly difficult to stay on top of each new wave of technology that has outpaced my generation and my meager Internet abilities by leaps and bounds (Remember, I’m over 30, make that 40, okay 50). And just exactly when does one find the time to post, post, POST (!) each moment of their day (and do you really care)?

But I will concede that my sister is right; “visual” mediums are where it’s at, which is why I continually push for professional staging and photographs when it comes to any of my listings.  Listen, if you expect your property to compete and to bring top dollar in this increasingly “visual” world, paint and STAGE your home. In fact, I feel so strongly about this point, that I recently turned down a listing that refused to follow my advice.

According to the National Association of Realtors, 93% of Buyers now begin their search on the INTERNET. Thus, good staging and great photography have never been more important, as is a dedicated property website ( www.18Sandringham.com).

“But my own things are much nicer,” one very well-intentioned Seller and dear friend recently informed me.

No doubt – but it’s also beside the point.  The blunt truth is, most of our homes aren’t close to “camera ready” (we simply  have too much “stuff.”)  Moreover, as lovely as your things are, I want the Buyers to focus on your house, not on the beautiful things within it.  So while I know it’s difficult to let go of your carefully orchestrated environment, try and push past your objections so that we can ultimately achieve the best and highest result with respect to the sale of your home.

Hey, I know all about “objections.” That’s been a bit of my challenge as well as I struggle to drop my objections and gain new skills that ultimately keep me better informed and much more relevant, not only to my current clientele, but to an up and coming generation with entirely new expectations and skill sets. (Talk about a dynamic future.  They’ve just begun to scratch the surface.)

So at my sister’s urging, I am jumping on the bandwagon and I now have my own Instagram account (I’d already succumbed to Pinterest and Houzz months ago and yes, they are are a feast for the eyes).  And because Jill knows I can’t keep all these accounts straight, she registered me as: ‘instagardn3r” (lest I forget my new purpose in life).  No, I won’t be posting every house I visit, but I’ll certainly throw in some lovely architectural details, a bloom or two, gardens I admire, homes I LOVE and for good measure, a bit of the community that makes our neighborhood so special.  Sound good?

AND if, along the way,  I also end up MORE connected to my boys and to my readers (aka: “followers”) then that’s an end game well worth taking a run at (although I’m not fool enough to believe either Case or Tristan will send me a picture of a jaunty little polo shirt they’re considering . . .).

BTW – if you’re already on Instagram, let me know so we can “follow” each other.

What’s Coming?

339 Sea View Avenue

Don’t miss Anian Tunney’s spectacular new listing 339 Sea View Avenue in Piedmont (circa 1922).  This jaw-dropping home has been thoroughly restored by its present owners and has design pedigree like no other in town.  Featuring 4+bdrms/2.5 bths, elegant formal rooms, a stunning kitchen/family room, new landscaping and an outdoor garden with fireplace that beckons you to come and relax, this enchanting Colonial home is an entertainer’s dream! Shown by appointment only. List price: $3,495,000.  www.grubbco.com

 

61 King Avenue

While we’re on the subject of truly special homes, Karen Starr has just listed an elegant Monterey Colonial at 61 King Avenue, designed by Clarence Tantau (c. 1943) and located on one of Piedmont’s most coveted streets and just steps to Crocker Park, this tastefully remodeled 4+bdrm/4+bth Monterey Colonial features a top-of-the-line-kitchen w/stylish Spanish marble countertops, perfectly proportioned formal living and dining rooms, cozy den with half bath, wood-paneled library with fireplace and hidden wet bar, and magical courtyard. French door throughout open out to private, lushly landscaped gardens that were originally designed by Thomas Church, providing the perfect setting for intimate or large gatherings. List Price: $4,250,000.  Shown by Appointment Only! www.61King.com.

 

81 Wildwood Gardens

More “project’ oriented? Anian Tunney’s listing at 81 Wildwood Gardens in Piedmont was originally designed by Albert Farr and sits in a coveted enclave, featuring tree-lined streets, elegant homes, which is the perfect backdrop for this romantic 3++bdrm/4bth retreat, in need of some TLC.  List price: $1,450,000.  Open  Sunday, 2-4:30pm.  Bring your tape measures and create your dream home.  www.grubbco.com

(These are just a few highlighted properties for you to consider.  For a complete Sunday Open House Guide, please contact me and I’ll be happy to send you an Ad Review each week.)

What’s Pending?

My elegant listing at 18 Sandringham in Piedmont went into contract in less than a week after receiving an aggressive and very committed “pre-emptive offer” that came in well above the list price.  (I’ll speak to the pros and cons of the “pre-emptive” play in an upcoming piece.)  Suffice it to say, that in this case, it worked!  Congratulations to both the Buyers and the Sellers. (List price: $2,123,000.)

The Piedmont Plug!

What kind of crazy baseball mom would I be if I didn’t at least give a shout out to our amazing Piedmont High School Varsity Team which won their league division and then went on to win the first game of the NCS playoffs against Fort Bragg with an exciting sixth inning, come-from-behind rally, that included a triple and a home run (just for good measure).

With all due respect to the SF Giants, you may have some hometown competition for spectators. Come join the boys tomorrow, Saturday, May 25, at Witter Field here in Piedmont. The game begins promptly at 1:00pm.  Go Highlanders!

Building Community One Family at a Time . . .

Vol. 278 – Oh No, a Flat Tire.

 What’s New?

“How was the anniversary weekend?” Ed sweetly asked me.  “Was it all that you expected?”

Umm, yes, and no . . .

After watching our son’s baseball game at Witter Field, my husband and I hit the highway on a warm Friday evening and made it down to the Carmel Valley Ranch in good time.  Cliff had been asked to speak at a professional seminar of appellate lawyers and I was tagging along for a rare weekend off, with intentions of strolling Ocean Avenue and the beach, stopping at the nurseries in the valley, and meeting back up with Cliff for lunch and tennis; the perfect day.

We’d elected to drive down in his mid-life crisis convertible (but who’s judging?) to take advantage of the weather and the fact that we would be childless for the weekend, eliminating the need for my much roomier wagon. Truth-be-told, I’ve never much liked that car, but Cliff does and indeed, it was a gorgeous “top-down” kind of evening for which convertibles were made.

On Saturday, we woke early, sunshine streaming into our room, and as Cliff finished his early morning gig, he tossed me the keys and I headed off to Macy’s for a quick errand, while he stayed behind to attend another session.  When I emerged an hour later, I discovered a nail in the wheel and a very, very FLAT tire. What? No worries, a call to AAA would set things right.

Three hours later I was still wrestling with the unexpected detour, having made it form the parking lot to a nearby gas station where I was told that the wheel was too badly damaged to be repaired. (Evidentially, the car doesn’t like me either.)

Sigh, the best laid plans . . .

In the world of Real Estate, good planning constitutes the bulk of any agent’s duties. Personally,  I start with a calendar outlining inspections, marketing deadlines, open houses, Broker’s Tours, Sunday Opens, advertisements, cleaning, window washing, gardening, etc., etc., etc., and build from there.

Nonetheless, even with good intentions, a carefully crafted marketing schedule and day-by-day planning, there’s rarely a home that doesn’t surprise along the way; a conclusion that often comes to the surface as inspections get under way.

“We fixed that.” clients will adamantly state as they read the recommended reports that frankly, leave the Seller often feeling very vulnerable and exposed.  Indeed, you may have fixed the problem, but perhaps the repairs only mitigated the issue, instead of eliminating it entirely.  (Note to Sellers, please don’t hire your “relative” unless he/she is licensed.)

It’s important to understand that all Inspectors must take a fairly neutral stance when writing reports - as they should.  Therefore, if they see something suspect, they WILL call it out. So knowing that, why exactly, would one invite criticism to the party when the goal is to show the house in its best light? (Good question, I’m glad you asked.)

I’ve often referred to this as “controlling” the information, when in fact, we don’t “control” the findings, as much as we provide them. In fact, we should welcome them.  Any “control” that follows, comes in the form of either correcting the issue prior to marketing, OR fully disclosing any defects so that the Buyer knowingly and willingly assumes the responsibility. To that end, we want to fully inform prospective Buyers as to the condition of the house so that they don’t “discover” the information on their own and then hold the Seller accountable by way of a MAJOR price reduction once in escrow! Make sense? I hope so. (Truly, I’m on your side.)

Although many of us like the idea of surprises, the truth is, we are really better served with good preparation.  Thus, I’ll encourage you to inspect, disclose, and inform so that all parties have a good understanding of the condition of the home.  NO ONE, absolutely no one, like surprises once they get into contract. Thus, my best guidance after years in the business, is to avoid surprises and then prepare to roll with the punches. As carefully as we try and construct the outcome, none of us has that much control over the future.

As it turns out, I didn’t much like being surprised either, and I suppose it’s the last time Cliff will ever let me drive his Jaguar (which was kind of fun if I’m being totally truthful).  However, if one has to suffer a flat tire, the Carmel Valley is a very pretty place to be stranded. In fact, I was hoping we’d have to stay another night.  No such luck, I’ve got too much work to do.  (I think I’m owed another weekend.)

Back to planning . . .

What’s Coming?

18 Sandringham Road

18 Sandringham Road in Piedmont will be open both Saturday and Sunday this weekend.  Designed by William Strickland (c.1940) and lovingly maintained, this elegant and spacious 4bdrm/4bth Traditional features three en-suite bedrooms upstairs including a beautiful master suite, gracious formal living and dining rooms, and gourmet kitchen with adjacent family room. French doors throughout open to a romantic, lush courtyard designed for elegant indoor/outdoor entertaining, while a basement below provides tons of storage and a work room. Open Saturday and Sunday 2-4:30pm.  List price: $2,123,000. www.18Sandringham.com

339 Sea View Avenue

Don’t miss Anian Tunney’s spectacular new listing 339 Sea View Avenue in Piedmont (circa 1922).  This jaw-dropping home has been thoroughly restored by its present owners and has design pedigree like no other in town.  Featuring 4+bdrms/2.5 bths, elegant formal rooms, a stunning kitchen/family room, new landscaping and an outdoor garden with fireplace that beckons you to come and relax, this enchanting Colonial home is an entertainer’s dream! Shown by appointment only. List price: $3,495,000.  www.grubbco.com

61 King Avenue

While we’re on the subject of truly special homes, Karen Starr has just listed an elegant Monterey Colonial at 61 King Avenue, designed by Clarence Tantau (c. 1943) and located on one of Piedmont’s most coveted streets and just steps to Crocker Park, this tastefully remodeled 4+bdrm/4+bth Monterey Colonial features a top-of-the-line-kitchen w/stylish Spanish marble countertops, perfectly proportioned formal living and dining rooms, cozy den with half bath, wood-paneled library with fireplace and hidden wet bar, and magical courtyard. French door throughout open out to private, lushly landscaped gardens that were originally designed by Thomas Church, providing the perfect setting for intimate or large gatherings. List Price: $4,250,000.  Shown by Appointment Only! www.61King.com .

81 Wildwood Gardens

Anian Tunney’s newest listing at 81 Wildwood Gardens in Piedmont finally arrives this week.  This unique home, designed by Albert Farr, in a coveted enclave featuring tree-lined streets, elegant homes and private, serene setting, is the perfect backdrop for this romantic 3++bdrm/4bth retreat, in need of some TLC.  List price: $1,450,000.
Open  Sunday, 2-4:30pm.  Bring your tape measures and create your dream home.  www.grubbco.com

 

22 Woodside Court

Tami Bobb (The GRUBB Co’s newest member) has just listed a spacious Craftsman style home located in the desirable Woodside Glen neighborhood; an enclave of custom designed homes custom built in 2006.  Featuring 4+bdrms/2.5bths, a desirable open floor plan , expansive yard w/deck, and easy access to freeways, transportation and local amenities including the Westminster Theatre and very trendy restaurants this unique community is also adjacent to miles of open space and hiking trails.  List Price: $929,000.  Open Sunday, 2-4:30pm.  www.grubbco.com

What’s New?

 (These are just a few highlighted properties for you to consider.  For a complete Sunday Open House Guide, please contact me and I’ll be happy to send you an Ad Review each week.)      
 
Building Community One Family at a Time . . .

 

Vol. 277 – A Home Run!

What’s New?

My younger son’s baseball experience this Spring has been fairly anticlimatic. One of only five sophomores on the high school Varsity team, he’s spent more time on the bench this season than I’ve come to expect, both as his mother and as his biggest fan. (Okay, his father might fight me for this honorary title.)

Not that I haven’t been here before – I have.  My older son LOVED the game of baseball and never missed a practice, but wasn’t as naturally predisposed. Which meant that I often watched uncomfortably from the stands, wondering when – or if – his coaches would put him in (if only passion could have made up the difference). Clearly, coaches aren’t mothers or all the kids would have equal playing time. (What’s with them anyway?  You’d think that “winning” was a priority.)

But for Tristan, it’s been an entirely different journey; a gifted athlete from the start, he’s always batted at the TOP of the order and has often made magic happen at the plate.  Now, he’s been relegated to a few late innings, or worse yet, none at all, as he adjusts to a quicker, more mature game and the reality that as a sophomore, he’ll have to earn his stripes all over again. Wow, it’s been a lesson in humility (for us both) and a dramatic learning curve – from star player to designated whatever.  And just between you and me, I have to admit that it’s much easier to watch the game as a parent, when your child is actually playing in it.

Last week; in a show of great power, Tristan CRUSHED the ball at Witter Field sending the pitch sailing over the left field fence and beyond, into the Wildwood playground for a rare home run that ignited the Piedmont crowd. Unfortunately – or fortunately – I arrived just in time to hear their cheers and see my son cross home plate with a grin on his face that ran from ear-to-ear.  At long last, vindication. (Put that in your pipe and smoke it.) By Saturday, Tristan was back on the bench, again. Sigh . . . (Sometimes life just ain’t fair.)

Buyers know the feeling all to well.  They come up to bat, swing their hardest, and often fail to get on base.  With multiple bids on nearly every home, the odds are suddenly stacked heavily against them as they face curve balls, sliders, and sinkers at every turn.  A few short years ago, they could have casually walked up to the plate, put in a bunt, and likely make it safely to base.  Not so this Spring, where even the offers that should be clear winners, are coming up just short of the fence. “You’re out!”

So in the game of Real Estate, what exactly constitutes a “home run?”

Obviously, a “home run” begins with a compelling offer price (I’m talking 25-40% over asking in many cases!) and then heavily relies on aggressive terms. “Terms” are items like inspections, financial contingencies, close of escrow, and rent-backs.  The easier you make it on the Sellers to go – or stay a little longer if they so desire – the more attractive your offer becomes.

It’s actually not uncommon for higher priced offers to get passed over in favor of more secure ones – such as the “ALL CASH” play, a very short-inspection period (or none at all!), a quick close of escrow, or a generous rent-back, if that’s what the Seller really needs.  Note to Buyers: don’t assume; however, that the “All Cash” offer automatically translates into a discounted price; it doesn’t.  It merely moves your offer to the head-of-the-line. Sellers will happily wait the few extra weeks for significantly more dollars. Put the best price and terms together, and you’ve just created the “home run.” (Congratulations.)

A few disheartened Buyers have gotten so discouraged, that they’ve actually taken themselves out of the game entirely (player fatigue).  I get it, I do, but I can’t in all honesty, predict that next year will be much improved for Buyers who have elected to wait it out. (Last year’s savvy Buyers were ALL homerun hitters in hindsight.)  All I can do is tell you that the more pitches you look at, the better you’ll become at anticipating the speed and the curve.  You’ll also get better at sitting on the bench when circumstances warrant it (some homes may just be too competitive for your financial limitations).  That’s okay.  Like my son, I believe that with enough practice, you’ll better understand the timing and the nature of the game.  Pick your pitches.

The truth is, in baseball; in life; and in Real Estate, there’s always a learning curve and we each, in turn, go through it. (Is there another way?)  As a result of this year’s tough lessons, Tristan is going to be better prepared for his Junior and Senior years, and hopefully, for any challenges down the road as well (as will I).  That’s growth.

“Batter, batter,  swing!”

Let’s get you a house.

What’s Coming?

18 Sandringham Road

Look for my newest listing to debut  this week at 18 Sandringham Road in Piedmont.  Designed by William Strickland (c.1940) and lovingly maintained, this elegant and spacious 4bdrm/4bth Traditional features three en-suite bedrooms upstairs including a beautiful master suite, gracious formal living and dining rooms, and gourmet kitchen with adjacent family room. French doors throughout open to a romantic, lush courtyard, designed for elegant indoor/outdoor entertaining, while a basement below provides tons of storage and a work room. Open Sunday, May 12, 2-4:30pm.  List price: $2,123,000.

Heads up!  Look for Anian Tunney’s newest listing at 81 Wildwood Gardens in Piedmont to arrive next week.  This special home, designed by Albert Farr, in a coveted enclave featuring tree-lined streets, elegant homes and private, serene setting, is the perfect backdrop for this romantic 3++bdrm/4bth retreat, in need of a little TLC.  List price: $1,450,000. Open next Sunday, May 19, 2-4:30pm.

581 Grizzly Peak

Bebe McRae has just listed 581 Grizzly Peak Boulevard in Berkeley.  This 3bdrms/1.5bths  gem of a home provides level entry, a 2-car garage with interior access and opens to a sunny patio and beautiful, park-like gardens .  With formal dining room, a kitchen/family room combo and lots of great attention to detail, it’s as sweet as they come.  Open Sunday, 2-5:00pm.  List price: $825,000.  www.grubbco.com

 

1098 Amito

Don’t miss Jill Carrigan’s listing at 1098 Amito Drive in the Claremont Hills. This Plantation-style home with a contemporary flair, offers 4bdrms/3+bths, and spectacular Bridge, Bay, & Canyon views, as well as the City beyond. With seamless indoor/outdoor living, sunny open floor plan, custom kitchen that opens out to an expansive deck, magical rear garden, front porch w/expansive lawn, spacious master suite w/fireplace, and walls of windows that frame amazing vistas in every direction, this home is sun-filled by day and offers sunset views of the City by night. That’s true romance. Open, Sunday, 2-4:30pm. List Price: $1,175,000

(These are just a few highlighted properties for you to consider.  For a complete Sunday Open House Guide, please contact me and I’ll be happy to send you an Ad Review each week.)

What’s Pending?

A quick review for your reference:  There are currently 15 properties that are available for sale in the city of Piedmont (per the MLS), there are an additional 18 homes now pending, and 23 homes have already transferred ownership since the beginning of the year. (These figures do not take into account OFF- MARKET sales.)

The Average price per square foot of “active” listings is: $568.55, the average price per square foot of “pending” listings is: $518.14, and not surprisingly, the average price per square foot of “sold” properties is considerably higher at: $656.19.  Home sales have traded from a low of $521 per square foot, to a high of $807 a square foot. Typically, the smaller the home, the higher the price per square foot as there’s a significant cost just to get into Piedmont.

Whether you paid above or below the median, Piedmont real estate is still a value when compared to San Francisco, Menlo Park, Woodside, Hillsborough, or Ross – nearby communities that have similar demographics and attract similar Buyers.  Isn’t that nice to know?

How can I help you?

The Piedmont Plug!

PAINTS Annual Bird House Gala & Auction is held in a spectacular private garden each year, and provides funding for the arts programs in Piedmont’s schools. Enjoy wine and hors d’ourves, live music, and rowdy performances by the winning Piedmont High School Bird Callers (look for them on David Letterman as well) and let’s not forget to mention those fantastic, creative bird houses that will be available to the highest bidder (which has yet to be me, but I’ll keep trying).

Bird House Gala & Auction
Friday, May 17, 2013
5:00 – 7:00pm

For more information, go to: piedmontpaints.org or call Betsy Lalli at 510-325-1405. Tickets are $80 in advance or $90 at the door. PAINTS supports art education in Piedmont schools.

Building Community, One Family at a Time . . .

Vol. 276 – Happy Anniversary, Honey.

What’s New?

On Monday, Cliff and I celebrated our 23rd wedding anniversary. (Happy Anniversary, Honey) That’s about half as long as my parents have been married, but certainly enough years to have to have set down roots, to have established a family (the boys are practically grown now) and to have built an incredibly rewarding life together.

Anyone who’s walked down the aisle or stood in front of a Justice of the Peace, can tell you that it’s not always easy. Marriage is a journey of ups and downs, rewards and challenges, and unexpected turns; it’s promises kept and forgotten, commitment and duty, and a great deal of acceptance along the way (okay, I’m still working on that part). Above all else, a successful marriage involves a great deal of love, respect, and compromise.

Truth be told, most of us marry one another on “potential.” We don’t really have a clue what’s in store for us in the long haul, but we take the plunge anyway with faith and perseverance, secure in the belief that love and laughter will pull us through (note to my boys, marry someone who makes you laugh and whom you make laugh, in turn – it does!) Add children to the mix, and it’s a whole NEW opportunity for growth . . . Still, on balance, it’s a journey well-worth taking. I guess it would be fair to say: I’ve been“lucky in love.”

Nevertheless, “luck” has less to do with love, than do faith and perseverance. The same can be said with respect to Real Estate as well. First and foremost, you have to believe in the marketplace and you have to have faith in the security of your investment; faith in the concept of future appreciation, AND then you persevere . . .

Successful Buyers believe in the “potential,” whether in the “fixer,” or in the “turn-key” opportunity, whether in an UP or DOWN marketplace, and whether in a secure or a volatile economy. They also, believe in the dream, which is why real Buyers are often willing to battle time and again before securing the perfect property. (Well . . . almost perfect.)

As of late, there have been a fair number of homes sold on “potential” and in most cases, they have gone in incredibly competitive situations, which means the “lucky” Buyers weren’t just lucky, they were prepared AND to my point, they had also persevered.

I’ve spoken to preparation and perseverance many times before and it has never been more important than it is in today’s highly charged, incredibly challenging marketplace. Speak with a local lender, get a pre-approval letter qualifying your credit-worthiness, and be prepared to go to war. (There’s no point in writing offers that don’t stand a chance.)

Meet with a local Realtor, tour the area, identify the communities that you desire, become familiar with the inventory, track the sales prices, and then commit fully to the process.

If you need to sell first in order to purchase, start that process right away: prepare your home for sale, investigate, inspect, and disclose (a real act of commitment) and then make your next move.

BTW – while the majority of capable owners can handle many of these steps on their own, aligning yourself with an agent UPFRONT gives him/her the legal capacity to aggressively step in and take on much of the stress buying or selling a home entails. In other words, put an agent to work! (We’re more than happy to earn our fee and your trust along the way.)

Hey, I’m here to help you set down roots, meet your goals and take the next step. After many years of practice, I’ve gotten very good at supporting dreams (that’s a mother’s job). It’s also your Realtor’s. Please give me a call.

What’s Coming?

109 Manor Drive
Elizabeth Dickson has just listed a terrific home at 109 Manor Drive in Piedmont. This sunny Traditional is the classic two-story home which features 4bdrms/2+bths, coveted floor plan, spacious rooms, and a great location on a level street where kids ride bikes and roller skate (so do the adults). Close to Dracena Park and Piedmont Avenue shops, restaurants and the theater, this wonderful home reminds me of the homes I grew up in. Open Sunday, 2-4:30om. List price: $1,325,000. www.grubbco.com

 

18 Sandringham Road

Look for my newest listing to debut NEXT week at 18 Sandringham Road in Piedmont. Designed by William Strickland (c.1940) and lovingly maintained, this sophisticated and spacious 4bdrm/4bth Traditional features a 3 en-suite bedrooms upstairs including a beautiful master suite, gracious formal living and dining rooms, and gourmet kitchen with adjacent family room. French doors throughout open to a romantic, lush courtyard, designed for elegant indoor/outdoor entertaining and a basement below provides tons of storage and a work room. Open Sunday, May 12, 2-4:30pm. List price: $2,123,000 (Photos up next week)

 

608 Boulevard Way

Dana Cohen brings an elegant 3+bdrm/3bth Tudor Revival to the market at 608 Boulevard Way in Piedmont. This updated residence includes an eat-in kitchen with Dacor gas cooktop and separate pantry, private master suite, office, and spacious family room that opens level-out to the rear patio and expansive lawn areas. Open Sunday, 2-4:30 pm. List price: $1,298,000. www.608Boulevard.com

 

317 Pala Avenue

317 Pala Avenue: Classic, yet beautifully updated and with Golden Gate and Bay views, Matt Heafey’s newest 3bdrm/3.5bth listing at 317 Pala Avenue in the heart of Piedmont, is a sunny Craftsman that features an inviting front porch, formal living and dining rooms, spacious master suite, large deck with wrap-around bench, bonus rooms on the lower level, a gardener’s paradise with mature roses & lush landscaping, lovely natural light & period details throughout, and a coveted central location close to award winning schools. What’s not to love? (Nothing.) Open Sunday, 2-4:30pm. List price: $1,849,000. www.317Pala.com

 

1098 Amito

Jill Carrigan has just listed 1098 Amito Drive in the Claremont Hills. This Plantation-style home with a contemporary flair, offers 4bdrms/3+bths, and spectacular Bridge, Bay, & Canyon views, as well as the City beyond. With seamless indoor/outdoor living, sunny open floor plan, custom kitchen that opens out to an expansive deck, magical rear garden, front porch w/expansive lawn, spacious master suite w/fireplace, and walls of windows that frame amazing vistas in every direction, this home is sun-filled by day and offers sunset views of the City by night. That’s true romance. Open, Sunday, 2-4:30pm. List Price: $1,175,000

(These are just a few highlighted properties for you to consider. For a complete Sunday Open House Guide, please contact me and I’ll be happy to send you an Ad Review each week.)

What’s Pending?

Speaking of potential, the magnificent home at 445 Mountain Avenue in Piedmont had it in spades and is now firmly in contract. (No, I wasn’t the fortunate agent to secure this sale, but The GRUBB Co. did in fact represent both the Buyer and the Seller in this transaction. List price: $4,200,000.)

How can we help you?

The Piedmont Plug!

PAINTS Annual Bird House Gala & Auction is held in a spectacular private garden each year, and provides funding for the arts programs in Piedmont’s schools. Enjoy wine and hors d’ourves, live music, and rowdy performances by the winning Piedmont High School Bird Callers (look for them on David Letterman as well) and let’s not forget to mention those fantastic, creative bird houses that will be available to the highest bidder (which has yet to be me, but I’ll keep trying).

Bird House Gala & Auction
Friday, May 17, 2013
5:00 – 7:00pm

For more information, go to: piedmontpaints.org or call Betsy Lalli at 510-325-1405. Tickets are $80 in advance or $90 at the door. PAINTS supports art education in Piedmont schools.

Building Community, One Family at a Time . . .

Vol. 275 – I’ve Got a Crush on Ed

What’s New?

I’ve got a crush on Ed.  Nevermind that’s he’s in his eighties, is happily married to a stunning woman named Mary, has grown children, several grandchildren, and I suspect, a few great grandchildren . . . I consider Ed to be my boyfriend.

When we run into one another, he quietly ambles over to me for an obligatory hug and a peck-on-the-cheek and then I watch him settle down with his coffee and some cookies and wait for whatever pearls of wisdom his years have bestowed upon him.  My evening is truly not complete without this affectionate exchange.

Here’s the part that really gets to me and melts my heart . . . Ed always smuggles a few cookies into his pocket for later on. Perhaps he’s taking them to his beautiful bride, or maybe they are consumed on the car ride home prior to his arrival.  No matter, it’s an endearing action; this desire for a little treat after the fact.  Or as my mother would say, “sweets for the sweet.” (Ed definitely qualifies.)

Here’s how “treats” translate into the world of Real Estate and can really “sweeten” the deal.

Currently, I am in the middle of a transaction; one in which my Sellers received several offers and are now in contract with a lovely family from San Leandro. (Great news!)  Even better, these aggressive Buyers quickly moved through their inspections and met their contractual obligations in quick time, releasing ALL of their contingencies within a few short days.  As you might imagine, this kind of integrity always makes the Sellers very happy and in return, they responded by “gifting” their trampoline, the lawn mower, and a few other incidentals at NO CHARGE to the Buyers.  Now that’s generous, not to mention very smart on the Sellers’ part.

One Buyer I represented several years back, referred to these courtesies between Buyers and Sellers as “throwing in the mats;” a term I’ve never forgotten and relied upon often. (Michael is a partner at BMW, SF and Mini Cooper so it was a natural analogy for him to make, but thank you just the same for an astute observation.)

In my opinion, “throwing in the mats” is always a wise move in a market where Sellers are typically seeing results far beyond their expectations and Buyers are feeling a bit battled and bruised before, during, and AFTER the offer date. (Sellers, take heed, Buyers are beginning to drop out and push back in response.) BTW this holds true even when (especially when) the successful Buyers have the winning bid that undoubtedly required UPPING the ante. Despite, or because of the pace, it has probably never been more important to finish off your transaction on a “sweet” note.

The last thing a Seller wants is for the Buyer to move into the house after the close of escrow and start nit-picking at every flaw and defect they now discover (no matter how much disclosure, there will be unknowns) OR worse yet, come back to the Sellers with a formal demand by way of a lawyer. (Say what?)

So take the few extra moments to meet with the new Buyers and familiarize them with the sprinkler system and the other components of your former home, leave behind your garage door openers and keys, the numbers for the gardener and the handyman, as well as the warranties on your appliances and hot tub, AND take it from me, a nice note and a bottle of champagne are never a bad idea . . .

When Cliff and I took possession of our house in Piedmont several years ago, the previous owner left a long list of contacts, from dry cleaners to the dog walker to the furnace repair man and ALL of it was appreciated as we were new to the area and hadn’t a clue.  They’d also left a beautiful bottle of wine and a card. (They’d wisely ended the sale on a “sweet” note.) A week later, when we discovered that a large redwood tree on the property would need to come out immediately or we’d lose the out-building that was destined to be Cliff’s home office, it never occurred to us to double-back around to the Sellers (or the agents) and ask them for the money.  There was no blame to assign and we now owned a house in an incredible setting (yes, with majestic Redwood trees and all that entails).  Forget real estate, in life, it’s important to recognize the gift.

Conversely, I’ve witnessed Sellers and Buyers become so polarized during a transaction over the smallest of perceived offenses that they never make their way back to a cordial working relationship (You’re irrevocably damaged because someone sat on the bed or turned on the remote control? Really?) In these cases, both parties invariably feel slighted and upset and you better believe both sides start looking for reasons to walk away from the deal, negotiate on price, or in the worse case scenarios – drum up a lawsuit designed to teach a lesson. (Eww, that hurts.)

I ask you, isn’t a little treat a lot easier?  Aren’t kindness, courtesy and good intentions a better way forward?  They’ve certainly served Ed well. (Take as many as you like, Ed, your secret’s safe with me.)

What’s Coming?

525 Forest

Judith Glass and Shiela Sabine have a wonderful, new Rockridge listing at 525 Forest Avenue.  This legal duplex offers a sunny upper unit with 2drms/1bth and a handsome lower unit with Craftsman details, featuring 2bdrms/1.5 bths.  In addition, the property also boasts a 3-car garage, enclosed back patio and a prime, coveted location.  (One unit is currently vacant and the other will be as of 5/30/2013.)  Purchase as an owner/occupier or as an investment opportunity; either way, it’s a great opportunity. Open Sunday, 2-4:30pm.  List price: $949,000. www.grubbco.com

46 El Camino Real

Tricia Swift has just listed a magnificent Berkeley Brown-Shingle at 46 El Camino Real in the Claremont.  Featuring 6bdrms/4+bths, level-in entry from the street, two parcels creating a BIG yard, and a spacious au pair unit; this home has lovely period details and room to spare. Open Sunday, 2-4:30pm.  List price: $1,850,000.


565 Bellevue

Finally, if you are seeking condo living, look no further than Tricia Swift’s listing at the Park Bellevue Tower  at 565 Bellevue on the 23rd floor, overlooking the recently transformed Lake Merritt.  Featuring 1bdrm/2bths, and many custom upgrades, this wonderful unit offers “City Living” at its best.  Open Sunday, 2-4:30pm. List price: $495,000.

Jill Carrigan has just listed 1098 Amito Drive in the Claremont Hills. This Plantation-style home with a contemporary flair, offers 4bdrms/3+bths, and spectacular Bridge, Bay, & Canyon views, as well as the City beyond. With seamless indoor/outdoor living, sunny open floorplan, custom kitchen that opens out to an expansive deck, magical rear garden, front porch w/expansive lawn, spacious master suite w/fireplace, and walls of windows that frame amazing vistas in every direction, this home is sun-filled by day and offers sunset views of the City by night. That’s romance. Open, Sunday May 5. (Price upon request. For more information, call Jill at (510) 339-0400.)

(These are just a few highlighted properties for you to consider.  For a complete Sunday Open House Guide, please contact me and I’ll be happy to send you an Ad Review each week.)

What’s Pending?

My listing at 1691 Mountain Boulevard in Oakland is now in contract, having received multiple offers – thank you very much (List price: $1,050,000).

And on the flip side, I helped Buyers into the winning position on a home here in Piedmont at 62 La Salle Avenue (List price: $1,250,000), also against multiple offers.  Now, that’s a productive week.

How can I help you?

The Piedmont Plug!

My favorite fundraising invitation just arrived in the mail and this one I try never to miss:

PAINTS Annual Bird House Gala & Auction is held in a spectacular private garden each year, and provides funding for the arts programs in Piedmont’s schools.  Enjoy wine and hors d’ourves, live music, and rowdy performances by the winning Piedmont High School Bird Callers (look for them on David Letterman as well) and lets’ not forget to mention those fantastic, creative bird houses that will be available to the highest bidder (which has yet to be me, but I’ll keep trying).

Bird House Gala & Auction
Friday, May 17, 2013
5:00 -  7:00pm

The GRUBB  Co’s own Heather Webster once competed as the Willow Ptarmigan bird and landed on Johnny Carson back when she attended Piedmont High School.  How’s that for a memory?

To make your own memories and for more information, go to: piedmontpaints.org or call Betsy Lalli at 510-325-1405. Tickets are $80 in advance or $90 at the door.  PAINTS supports art education in Piedmont schools.

Building Community, One Family at a Time . . .

Vol. 274 – Stop Digging Holes!

What’s New?

My dog and I are at an impasse. I want him to quietly lie in the garden and Buck wants to dig holes. I respond by planting more shrubs in the shady areas he loves and he thwarts me by finding another spot in which to dig.

I can’t say I appreciate being “out-foxed” by a dog. In fact, I find it rather frustrating, but he’s a dog, and dogs DIG. Unfortunately, I don’t think this is a battle I am likely to win, given that I’m at work all day while he’s got free run of the yard, but I’m not entirely willing to surrender either. Thus, he digs, and I plant – each of us trying to “out-fox” the other.

The truth is, no one likes being out-foxed in any situation and it’s especially difficult in today’s marketplace where Buyers are rarely alone at the table and are often compelled to spend quite a bit more than they had anticipated. If you’re not lucky enough to be Midas, it can be rather frustrating to watch home after home go to more aggressive (or richer) Buyers who can waive their inspection and appraisal conditions and close in mere days, as opposed to several weeks. Shucks!

“This whole process seems rather obscure,” one Buyer recently confided. “Why can’t I know what the other offers are so that I could decide whether or not I want to pay more?”

Gee, wouldn’t that be nice for us all?

Buyers would be able to quickly decipher whether or not they could realistically compete and their Realtors could save a tremendous amount of time NOT writing offers that probably don’t stand a chance under current circumstances (hmmm. . . it may be worth considering).

Of course, I’m not sure that Sellers who have now realized tremendous gains and are in possession of a unique commodity, would benefit from open bids as much as they do from a closed process – nor necessarily, would Buyers . . .

Typically, when multiple offers come into play, there is often a clear winner; one that is usually well-ahead of the rest of the pack. It’s not that the winning Buyer has “overpaid” for the house; it’s that savvy Buyers understand the nature of the contest and are willing to set themselves apart in order to avoid a “multiple counter” response; one in which the decision is likely to become a popularity contest (at which point, they’ll have NO control over the outcome). In short, these educated Buyers want the house and are willing to set the market value to get it.

Conversely, when only one offer is up for consideration, the Buyer usually has the advantage of bidding below the list price (once again, Buyers are setting the market value). And while that doesn’t necessarily describe our current marketplace here in the Bay Area, it’s important to remember that markets are cyclical and we’ve just come off of several tough years where Buyers have had the upper hand. Even with the dramatic shift, there are still many communities outside of the Bay Area where homes can still be purchased for less than asking (what a concept).

Fortunately (or unfortunately, depending on how you see it) this is the Bay Area, and given that you WILL in all likelihood, be bidding against several other Buyers on almost every home this Spring, it helps to have a Realtor who understands the nuances of the game, knows the other players in the mix, is well-respected by his/her peers, and clearly understands the standard practices in each specific marketplace. (Take my word for it, terms vary greatly from region to region.) Without these advantages, you may find yourself “out-foxed” and at a real disadvantage.

Recently, I have spoken with several Buyers who have struggled with saying good-bye to their out-of-area agent, in order to work locally. And while I appreciate the strong bond created in the search for a new home, your loyalty will probably come at a heavy cost to you and perhaps, in the form of missed opportunity. (Just because I vacation in Tahoe, doesn’t mean I know the marketplace there.)

By way of illustration, a few months back, I received a pre-emptive offer on a listing here in town, e-mailed to my inbox from an out-of-area agent who probably thought they had “out-foxed “ the rest of the buying public by declaring early. (They hadn’t.) Nearly everything with the offer was wrong, from the price, to transfer taxes, to their demands. At which point, their offer was politely declined and when a slightly modified offer was resubmitted come the offer date, it was declined once more – a repeat rejection. (Ouch, that really hurts.) The truth is, their offer missed the mark on every single level – and the worse part of this story is that their agent probably didn’t even know what mistakes he had made.

So if you have changed your geography by more than a few miles (I’m talking different cities, not different neighborhoods) it’s probably time to reconsider your representation. If you are still feeling torn, ask your agent to make the referral, which gives him/her an opportunity to recoup a little of their time and some of the lost commission. Granted, it won’t be the same pay-out as a full sale’s commission, but you’re much more likely to actually achieve the intended goal of homeownership, and that should be your Agent’s goal for you as well. Otherwise, we’re all just digging holes.

So plant your garden. . . our Spring Market is in full bloom and it is thriving!

What’s Coming?

It’s the week of Spectacular homes!

Elizabeth Dickson has brought a Grand Dame to market this week at 445 Mountain Avenue in Piedmont. This exceptional and distinguished home (circa 1913) designed by well-known architect, Arthur B. Brown, Jr., features four floors of living space, 6 bedrooms, 4 full & 3 half bathrooms, a grand columned entry hall, spacious formal living & dining rooms, adjacent to a handsome wood- paneled library (each with its own fireplace) three additional sun rooms, full attic and finished basement, and lavish use of architecturally significant moldings and period details throughout. Surrounded by mature blooming gardens and views of lush greenery from every window, this centrally located home also features a lower level that opens to a beautiful swimming pool and sunny level terrace. Show by appointment only! List price: $4,200,000 445Mountain.com

 

Anian Tunney has just listed 87 Sea View Avenue. On the most prestigous street in Piedmont, this lovely Colonial Traditional features 5bdrms/5+bths, grand foyer, box-beamed ceilings, gleaming hardwood floors, elegant yet inviting formal rooms, eat-in kitchen, glamorous swimming pool, and professionally landscaped gardens that create a series of magical outdoor vignettes at every turn. (They don’t make them like this any more.) It’s very special. List price: : $5,990,000. By appointment only! www.grubbco.com

 

In the market for incredible views? Don’t miss Anian Tunney’s new listing at
676 Blair Avenue in Piedmont. Walk into this dazzling Contemporary and find the SF Bay at your fingertips. Unsurpassed views of the shimmering Bay, the Golden Gate & Bay Bridges. Loads of space including 5 bedrooms, an office, two-car attached garage & a large rumpus room which opens to the lovely, sunny back garden, complete with a sparkling pool. Open Sunday, 2-4:30pm. List price: $1.950,000. www.grubbco.com

What’s Pending?

Multiple offers continue to be the name of the game and often, with surprising results. Both 221 El Cerrito Avenue (List price: $1,595,000) and 121 Ricardo Avenue (List price: $950,000) are now pending well above their list price. (Ricardo received more than 20 offers , as did Jerome last week!)

These are tough waters to navigate and “fixer opportunities” seem to be the toughest of all. Work locally and work with an expert. (We’re here to help and we know our business.)

Last night, I put my 1691 Mountain Boulevard listing into contract – also with multiple offers.

How can I help you?

The Piedmont Plug!

Spring brings a slew of fun and fabulous fundraisers. First up: CSL’s 25th annual Heart of the Home Tour: April 26 & 27, 10am-4:00pm. Tour five beautiful homes in Piedmont and Crocker Highlands and then stop by the Piedmont Community Center for lunch and some some timely shopping at the CSL Boutique. (Don’t forget Mother’s Day is right around the corner.)

Have a conflict with your kids? No worries, for the first time, CSL has arranged a special optional all-day program to give busy parents an opportunity to attend. The “Wild West Camp” on Saturday is $100 per child and is paid directly to Piedmont Recreation. Drop your kids for some fun with Tree Frog-Treks, “Mr. Science,” so that everyone gets a chance to play. (The Wild West Camp is not a fundraiser for Children’s Support League, but a service for guests on tour.)

Building Community, One Family at a Time . . .

Vol. 273 – The Do’s and Don’ts for Buyers

 What’s New?

“I think the  floor is sloping,” the skeptical Buyer loudly informed me,“cuz there seems to be some settlement here,” he continued, pointing at a corner in the hallway, intent on “educating” me (and everyone else within earshot) about the home’s potential defects.

“Is there room on the price?” another interested Buyer queried, “if so, we’d be willing to write today.” (You must be brand new to the marketplace  – or from Mars! Yes, there’s certainly room to negotiate, but northward only.)

“Are these windows single-paned?  We’ll need to replace them ALL,” another calculates; all but showing me her spreadsheet.

And so it goes . . . (thank you for your input).

I spend most Sunday afternoons manning an Open House in Piedmont, Rockridge or the Oakland Hills, so I’m well-versed on the Buyer who is calculating the math and deducting dollars for any perceived flaws (good luck to you).  At this point, I’ve logged more Sundays than I care to count, so I can reliably tell you that you are definitely NOT alone in hoping that there’s a discount to be had. (There isn’t; not in today’s market).  However – and with all due respectyou may want to rethink your strategy.

As the representative for the Seller, I’m not only there to answer questions and guide prospective Buyers toward details you may have overlooked or missed; I am also sizing YOU up as a potential candidate for the home.  In a marketplace that seems to be serving up multiple bids on almost every well-priced property, Sellers now have their “pick of the litter” and overwhelmingly, they want to choose someone who will love their home as much as they do.  In short, Sellers are often relying on their Realtor’s opinion and gut instinct about prospective candidates as they narrow down the field and select the final winner.

As such, you should be on your best behavior at an Open House (at least in front of the listing agent) and save your less-than-flattering opinions about the house for your own agent to address privately.  (This isn’t about silencing you as much as it is about improving your odds.)  You’ll have plenty of time to return with him/her to ask questions and work through any objections or concerns you may have – as any informed, potential Buyer should, and is encouraged, to do.

It’s not that I don’t appreciate the process (I do) it’s just that you want to be circumspect with how you go about it.  So when I council my own Buyers in such circumstances, I encourage them to be positive and upbeat.  (Any concerns should be for my ears, alone.)  While agents try not to play favorites, it’s only natural that we root for people we feel will indeed, be a good “fit” for the house and fairly happy in it.  Starting off the process, by overtly criticizing the home, sends the message that you’ll be tough to please.

So if you haven’t yet been “prepped” by your own Realtor, may I offer up a few suggestions for your Sunday Open strategy that may make you a more viable candidate as you tour?

  • DO introduce yourself and identify your Realtor
  • DO compliment the home and its decor.
  • DO ask if disclosures are available.
  • DO ask when offers are being accepted and how many are anticipated.
  • DO let the agent know if you’ve already seen the house with your Realtor or would care to come back another time.
  • DO bring your children (they’re adorable).
  • DO eat the cookies (they’re not staging and I bake them fresh on Sunday mornings).
  • DO work locally.  If I don’t at least recognize your agent’s name, your chances have just been reduced considerably.
  • DO identify what the Sellers need and try and customize your offer around those specifications. (A rentback? Quick close? Terms can make all the difference in the world in a multiple-bid situation.)
  • DON’T loudly pick apart and criticize the house in front of other guests or the agent (you’re only sending signals that you’ll likely be very difficult once in contract).
  • DON’T roll your eyes or scoff at the answers you receive to your questions. Aside from it being rather rude, almost every home in the East Bay has a mountain of disclosures that supply a great deal of detail and depth.  I’m not an engineer by trade, so I’m not licensed to give opinions about foundations, nor is it appropriate to debate you in a public forum.
  • DON’T offer up your opinions about the price, the unusual floorplan, or the busy street outside – unless they’re overwhelmingly positive – then talk all you want!
  • DON’T ask if I’ll “double-end” the sale on your behalf? (While perfectly legal, I’m not a fan of this practice – nor should you be.) My fiduciary responsibility lies with the Seller in this instance – not with the Buyer – but I’ll be happy to refer you to a colleague if you haven’t yet established a relationship with a local agent already.  If you have, stay put.  Now’s not the time to switch horses midstream.

Finally, I don’t know how high the home is going to go, so feel free to ask, but recognize that any number I proffer is just an educated guess at best.  I will happily supply your agent ongoing information about the level of interest and the Sellers’ expectations, but that’s as far as my magical powers of fortune-telling extend.  As the offer date draws nearer, I hope to have a much better sense of the “real players” and will share that piece of the puzzle with your agent as well.

Remember, Realtors set a pricing strategy only – not a market value; a willing and able Buyer defines the true market value of any given property at any given time.

So be willing and able, and then commit. Realize that every home has pluses and minuses, but understand, you’ll be better served focusing on the pluses (not the minuses) especially at an Open House.  And if there are too many minuses for your liking, than pass. Soon enough, there will be another property that sparks your interest. And when it does, just remember that your actions and comments are being noted.

Now go get ‘em and good luck!

What’s Coming?

Sunny, bright and beautiful!  There’s one last chance to see this wonderful home at 1691 Mountain Boulevard in the heart of Montclair.  Just steps to the library, Montclair Elementary (currently under construction and set to debut next Fall), and a few short blocks to the Village, this fantastic Traditional home features 4+bdrms/3bths, formal living and dining rooms, inviting family room and spacious, soccer-worthy backyard with stone patio and hot tub; perfect for entertaining!  It’s much bigger than it looks from the street so come on inside (trust me, you don’t want to miss it).  Open Sunday, 2-4:30pm. List price: $1,050,000.   www.1691Mountain.com


Bebe Mcrae has listed 299 Panoramic Way in Berkeley. Built in the 1920′s, surrounded by expansive gardens, and capturing Bay views in an idyllic setting with sensitive upgrades throughout, this 3bdrm/3bth home also offers a separate office/studio with half bath.  List price: $1,195,000. Open Sunday, 2-4:30pm.  www.grubbco.com



There will be one more Sunday Open for Mindy Scott’s wonderful Brown-Shingle Traditional listing in the heart of Piedmont at 221 El Cerrito Avenue. (Be still my heart.)  On the market for the first time in 50 years, this lovely classic home features 4+bdrms/3+bths, formal living and dining rooms, parlor, many plus spaces and an inviting front porch in a coveted central Piedmont location. What’s not to love?  (Nothing.) List price: $1,595,000. Open Sunday, 2-4:30pm.  www.grubbco.com

Anian Tunney has schedule one more open on a terrific “fixer” opportunity at 121 Ricardo Avenue in Piedmont.  On a great family-friendly street and close to Piedmont Avenue, shops and restaurants, this charming 3bdrms/2bth Traditional awaits your vision.  List Price: $950,000.  Open Sunday, 2-4:30pm. www.grubbco.com



Tricia Swift has just listed 1142 Longridge in Crocker Highlands.  This sophisticated, energy-conscience home features one-level living, 3bdrms/2bths, fabulous lower-level media room w/half bath, inviting floorplan and convenient location near the Crocker Elementary Schools. Enjoy nearby shops and restaurants on Lakeshore Avenue and the Saturday Farmer’s Market in front of the Grand Lake Theatre. Open Sunday, 2-4:30pm.  List price: $850,00.   1142Longridge.com.

What’s Pending?

Twenty-seven offers (!) came in on the little 2bdrm/1bth “fixer” at 429 Jerome in Piedmont, so with such stiff competition, I’m very pleased to report that my Buyer came out on top.

These are tough waters to navigate.  Work locally and work with an expert.  We’re here to help and we know our business.

How can I help you?

The Piedmont Plug!

Spring brings a slew of fun and fabulous fundraisers.  First up: CSL’s 25th annual Heart of the Home Tour: April 26 & 27, 10am-4:00pmTour five beautiful homes in Piedmont and Crocker Highlands and then stop by the Piedmont Community Center for lunch and some some timely shopping at the CSL Boutique. (Don’t forget Mother’s Day is right around the corner.)

Have a conflict with your kids?  No worries, for the first time, CSL has arranged a special optional all-day program to give busy parents an opportunity to attend.  The “Wild West Camp” on Saturday is $100 per child and is paid directly to Piedmont Recreation.  Drop your kids for some fun with Tree Frog-Treks, “Mr. Science,” so that everyone gets a chance to play. (The Wild West Camp is not a fundraiser for Children’s Support League, but a service for guests on tour.)

Building Community, One Family at a Time . . .

Vol. 272 – “Can I help You?”

What’s New?

“Can I help you?” the pretty, young salesgirl politely asked, clearly recognizing the confusion in my eyes. (I’m sure I’m not the first.)

“Yes!” I gushed, handing off the few shirts I had already selected, grateful for the rescue. “I desperately need some new clothes for work.”

Here’s the thing, take me to the Alameda Flea Market with literally row-upon-row of antique vendors as far as the eye can see, and I haven’t a problem quickly identifying what I want or negotiating for it, BUT if I wander into any large department store, I’m utterly lost; as if I haven’t a clue (I don’t).

With all due respect to April, I’m not fooling, I really have NO ability to filter through the sea of clothes as most of my fashionable peers can easily do (or any sixteen-year-old girl for that matter). Accessories? Uh . . . what are those? I wear a pair of earrings until I lose one and then I might purchase another (or not). Purses? I own just two.

“You’re not really wearing those baggy jeans?” my girlfriend, Teresa, has critically scoffed as I’ve arrived for an outing. (Not anymore, I’m not.) Teresa is the mother of three daughters – she always looks stylish.

Maybe it’s the boy thing. Frankly, neither Tris nor Case could care less about what either one of them is wearing, let alone me, but after twenty-plus years, I’m clearly out of practice and waaay out of my element. Maybe it’s the fact that I spend more time at the ball field than at the shopping mall. OR, maybe there’s a chromosome missing on my DNA?!?

Whatever it is, I am the first to admit that when it comes to fashion, I don’t know where to begin.

Thankfully, I don’t have to.

“I’m a personal shopper,” Sabrina explained as she escorted me into a private changing room. “If you ever need me, here’s my card.” (Need you? Can I adopt you?) “I’m just going to select some options for you . . . just wait here, I’ll be right back.” (Relief.)

One hour later and I walked out of Macy’s with three new shirts, a blazer, two skirts, a pair of pants, and a sporty little pair of Espadrilles – and they all mix and match. I’m set for the next several months. (Thank you, thank you, THANK YOU!)

Relying on others with more experience, doesn’t just make common sense (and cents) it’s often times, the wisest course of action, and the most expedient as well – especially when it come to Real Estate. Why reinvent the wheel when others more practiced, can better steer the way?

I can’t count the number of times, when potential Sellers bring me in after they have painted or made repairs, when they’d be much better served, inviting me in before (don’t mind the mess, I’ve seen much worse.) The truth is, there’s a very different aesthetic for marketing your home for photos online, than for decorating it to meet your own personal taste and style.

AND before you spend those hard-earned dollars that I will, in all probability, ask you to respend, PLEASE CALL ME. (Think Restoration Hardware or Pottery Barn Catalogue and you’re on the right track.) And yes, it’s very likely, the design will embrace a very neutral palette – and for good reason. We want potential Buyers to place themselves in your home, not get sidetracked by the photos of your darling children and their colorful artwork on the walls.

So for those of you contemplating selling your home in the next few years – or in the next few monthsmay I offer a few suggestions as someone who’s got a great deal more experience than the average home seller typically does?

If a move is in your future, here’s my Top Ten ‘To Do’ List:” (no charge)

  1. Define your goals, timeline, and expectations.
  2. Gather any information pertinent to the sale of your home, including building permits, receipts, plans, etc. and create a list of all home improvements.
  3. Purge your home, garage, and attic of any unwanted items and clean out and straighten closets and drawers.
  4. Professionally inspect your home for defects to the roof, chimney, foundation, electrical & plumbing systems, structure, and sewer lateral. (Better that you control this information than discover it in escrow!)
  5. If possible, consider repairing any identified defects or deferred maintenance the inspections uncover, prior to marketing.
  6. Install Smoke Detectors and CO2 Detectors as required by law.
  7. Paint and professionally stage your home. Dollar for dollar, staging brings the best return on investment.
  8. Power wash the exterior, clear gutters of debris and professionally wash windows inside and out. Freshen pots, replant beds, rake, mow, and tidy up the garden and all surrounding areas on the property.
  9. Most importantly, hire a local REALTOR (not an out-of-area agent) you trust and one whom has a proven track record in your neighborhood to help guide you through the preparation and the sale of your home. We’re experts in our field, so why not go with what works?
  10. No one should ever feel lost or overwhelmed when bringing their home to market.

Can I help you?

What’s Coming?

Sunny, bright and beautiful – please join me this Sunday at my newest listing at 1691 Mountain Boulevard in the heart of Montclair. Just steps to the library, Montclair Elementary, and a few short blocks to the Village, this fantastic Traditional home features 4+bdrms/3bths, formal living and dining rooms, inviting family room and spacious, soccer-worthy backyard with stone patio and hot tub; perfect for entertaining! It’s much bigger than it looks from the street. Come on inside (trust me, you don’t want to miss it). Open Sunday, 2-4:30pm. List price: $1,050,000. www.1691Mountain.com


Linda McClain has just listed a lovely Traditional at 6026 Pinewood in Montclair. Designed by Richard Janzen (circa 1996), this beautiful home features an ideal floor plan with 4bdrms/2bths up, including a very private master suite, formal living and dining rooms, office w/built-ins, and chef’s kitchen leading out to a wonderful grassy garden. Extremely functional and stylish, this house has it all! List price: $1,250,000. Open Sunday, 2-4:30pm. www.grubbco.com




Bebe Mcrae has listed 299 Panoramic Way in Berkeley. Built in the 1920′s, surrounded by expansive gardens, and capturing Bay views in an idyllic setting with sensitive upgrades throughout, this 3bdrm/3bth home also offers a separate office/studio with half bath. List price: $1,195,000. Open Sunday, 2-4:30pm. www.grubbco.com






Mindy Scott has just listed a wonderful Brown-Shingle Traditional in the heart of Piedmont at 221 El Cerrito Avenue. (Be still my heart.) On the market for the first time in 50 years, this lovely classic home features 4+bdrms/3+bths, formal living and dining rooms, parlor, many plus spaces and an inviting front porch in a coveted central Piedmont location. What’s not to love? (Nothing.) List price: $1,595,000. Open Sunday, 2-4:30pm. www.grubbco.com



Anian Tunney has just listed a terrific “fixer” opportunity at 121 Ricardo Avenue in Piedmont. On a great family-friendly street and close to Piedmont Avenue, shops and restaurants, this charming 3bdrms/2bth Traditional awaits your vision. List Price: $950,000. Open Sunday, 2-4:30pm. www.grubbco.com



What’s Pending?

Only nineteen homes have gone pending in Piedmont since the first of the year, per the MLS. Of course, this doesn’t account for the handful that have traded privately, of which there have been quite a few.

Private, or “off-market” sales are always disturbing to those Buyers who, understandably, feel left out of the hunt, but unfortunately, they’re not all that uncommon – especially as the market becomes more frantic. Working with an area specialist, gives you a much better shot at hearing about these sales, before they go into escrow – not after.

The average price per square foot in Piedmont, currently factors out to $578, but ranges from a low of $493 to a high of $731. The average sales price is $1,608,454, while the average list price is substantially less, at $1,483,886, reaffirming the reality that most homes in Piedmont (as well as many surrounding communities) are trading 20% – 30% above the list price and in some case, 40% over asking. Wowza! (That’s still a value compared to San Francisco.)

That’s tough news to digest if you’re a Buyer, but great for Sellers. If you’ve been on the fence Sellers, it’s time to jump off.

My lovely, all-level listing at 4434 Clarewood in Rockridge went into contract after only one Sunday Open and with eight offers. Suffice it to say, Mr. Seller had a great result and the home is now pending WELL above asking. (List price: $1,098,000).

How can I help you?

The Piedmont Plug!

Spring brings a slew of fun and fabulous fundraisers. First up: CSL’s 25th annual Heart of the Home Tour: April 26 & 27, 10am-4:00pm. Tour five beautiful homes in Piedmont and Crocker Highlands and then stop by the Piedmont Community Center for lunch and some some timely shopping at the CSL Boutique. (Don’t forget Mother’s Day is right around the corner.)

Have a conflict with your kids? No worries, for the first time, CSL has arranged a special optional all-day program to give busy parents an opportunity to attend. The “Wild West Camp” on Saturday is $100 per child and is paid directly to Piedmont Recreation. Drop your kids for some fun with Tree Frog-Treks, “Mr. Science,” so that everyone gets a chance to play. (The Wild West Camp is not a fundraiser for Children’s Support League, but a service for guests on tour.)

Building Community, One Family at a Time . . .

Julie Gardner (DRE# 01431765) is a Piedmont, California Realtor affiliated with The Grubb Company. Julie is a member of The Oakland Board of Realtors, The California Association of Realtors, The National Association of Realtors and she is a designated "Luxury Home Specialist." She offers personal attention, care, answers, vision, and experience to motivated buyers and sellers who thrive in a collaborative relationship. Her weekly newsletter, "The Piedmont Perspective," has earned rave reviews with its friendly flair and high-quality information about the Piedmont real estate market. Call Julie today at (510) 326-0840 if you are considering moving to Piedmont or any other city in the East Bay.