So, I have been noticing something that I haven’t seen in awhile…price reductions. More than normal. What could this possibly mean?
But I am also seeing price increases, meaning it was originally listed for multiple offers and the seller did not receive what they were hoping for. So they increased the price to what they would take.
I polled El Cerrito, Albany, Kensington, Berkeley and Oakland to see what things were looking like this past week. Here is what I found:
El Cerrito saw one price drop and 1 price increase
Albany saw one price drop
Kensington saw one price increase
Berkeley saw three price drops and
Oakland saw 16 price drops
I work with a lot of sellers and the one conversation I always have is about setting expectations. In a fast moving-market that is full of emotion, it is nearly impossible to determine what a house would sell for. For the past 2 years we have seen such a huge gap between the listed price and the sales price. Now we are starting to see houses that aren’t getting offers on their due date, price changes, and houses being withdrawn. What do you think is happening?
I am going to continue to track these. I am curious to know whether the price reduction will get it sold with multiple offers, and whether the price increase will simply get it sold.
Are you prepared for a major power outage? Last week in a little innocent squirrel caused a major power outage in the East Bay that lasted nearly two and a half hours. Some of you may have been affected by it – Krista on our team was definitely affected by it and while she was a “little” prepared we thought it would be a good idea to remind you what to do in a power outage. Whether you are in a Short-Term Power Failure, Long-Term Power Failure, Summer Power Outage, Winter Power Outage (luckily we don’t have a real “winter”) or an Extended Power Outage/Home Shutdown there are few essential items you should keep in your house for moments like these.
Check out the full list here. The most important thing is to have a plan in place for any type of situation like this and to stay calm. Let us know if you were affected by the major outage last week and how you managed through it!
Will the drought in California, which is weighing heavily on all of our minds as the water from the faucet starts to taste a litter funkier every week, have any kind of impact on real estate prices? There are several possible scenarios:
Although cyber space seems to disagree with me, I think the drought will have significant impacts on both home prices in the Bay Area and buyer’s capacity to purchase.
We all need to do our share in saving water now and supporting the creation of systems that will ensure future droughts will have less impact.
To do your part, check out this great website: 100 Ways to Use Water Wisely.
And let me know what you think…will the drought impact real estate prices in the Bay Area?
Top 5 reasons you will want to move right into our new ELMWOOD listing!
1- You could eat a twinkie or cupcake from #StatesideBakery every day!
2- Meander over to College Ave and grab an espresso from#EspressoRoma or a book from #MrsDalloways
3- Visit the adorable #WillardPark playgound
4- The weather in #Berkeley is simply devine and
5- #Elmwood boasts a small-town community vibe with some of the friendliest people around!
3007 Hyde St., Oakland aka “The Sweetest Oakland Home!”
Lived in for the past 7 years by a pastry chef / party blogger, an executive chef, a curious 9 year old boy, and their 4-legged friends.
“The Sweetest Oakland Home” is full of life, energy, style and pizazz. Graced with designer colors, a retro kitchen, and a fab-u-lous-ly fun backyard.
Don’t believe me? See for yourself! We will be open this weekend.
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