Goldilocks Makes A Visit!
What's New?
This week's Multiple Listing Service (MLS) shows 16 houses on the market in Piedmont with an average list price of $1,928,375 and average days on market (DOM) reported at 46 days. As we approach the end of the first quarter, how does this compare with last year?
Here's the news . . . the average sales price is UP from last year's average sales price of $1,598,136, and inventory is down. It is important to note that average sales price is skewed by the fact that last year we sold several 2bdrm/2bth-starter homes with entry-level prices under one million. This year, the entry-level home has barely made a showing, leaving many younger buyers waiting on the sidelines. (Typically, starter-homes become available as families grow and expand, requiring a larger house. If the "four-year" home was bought in the last four years however, those buyers can't afford to sell in this market- just yet.) Thus, we aren't seeing starter-homes churn the market, the way they have in the past and that affects every level of the marketplace.
With inventory lighter than usual, demand should be high. So why isn't everything selling?
Demand is high, but buyers have become far more discerning - as have their lenders. Any flaw is going to be magnified three-fold in this more conservative marketplace where the buyers seem to be limited to those who "need to buy," versus those who "want to buy." Thus, the pool of buyers on any given Sunday, is largely comprised of those that are expecting, those that can afford to move, those that have had a job transfer and those that are downsizing. Still, they represent incredibly motivated buyers and I suspect, buyers that will have made timely decisions when this all plays out.
In short, buying in what may be, a declining market, may be the smartest decision you make - value exists now. Previously, you were buying your appreciation up front and waiting for the market to catch up. Now your home should appreciate in real time - and that's good news!
What's Coming?
The Storybook Colonial complete with white picket fence on Requa Avenue is the newest addition to the Piedmont marketplace. With 4bdrm/4bth, spacious brick patio with stunning south bay view, and central Piedmont location, it is highly desirable and attracting interest. Offers next Tuesday! Price:$2,595,000
For a great little investment property nearby, I really enjoyed the 2-unit property near Piedmont Avenue on Panama Court. This adorable 2bdrm/1bth Cottage with detached 1bdrm/1bth rental unit and separate office, sports a killer location, designer kitchen, and sunny backyard. It's a winner and offers a nest for retired parents, grown children, college students, professional couples, or young families. I love the possibilities here and there are many. Price: $799,000 www.4040PanamaCt.com
Both of these properties will be open this Sunday as will many others. Which properties would you like to see?
What's Pending?
My stunning "Mark Becker" Traditional listing on Neva Court in Montclair went pending last week with three offers. Like the story of Goldilocks and the Three Bears, one was "just right." Aside from a strong offer price, what set it apart? In short, the agent did a full-press job of explaining the story of her clients, their motivation for buying this particular property, how they envisioned living in it and why they had fallen in love. She drafted a thoughtful contract with extremely tight time frames for inspections and left little to be negotiated, leaving her competitors in the dust. For my sellers, the choice was easy!
Does selecting the right agent really make a difference? You bet it does.
Does experience and local representation set an offer apart? Definitely!
What's Happening?
The spacious, centrally located Traditional on Mountain Avenue has had a dramatic reduction and is now listed for $2,350,000. Likewise, the completely renovated Grand Mediterranean on Westminster Drive, near the Claremont Country Club has also been reduced and is now listed for $3,750,000. Both of these properties are truly special and offer ample room and gracious living. Now that's news!
Fact: When prices match the market's expectations, properties sell quickly and often, with more than one offer. Now that both of these homes have been significantly reduced, interest should swell.
What's Fun!
The Piedmont Neighbors and Newcomers Club invites you to join them at their annual wine tasting party this Saturday evening, March 29, from 5-7 pm, at The Vine Bar at 3343 Lakeshore Avenue. This fun event is an opportunity to taste some new wines and meet both old and new friends alike! Contact Hilarie Shelby for more information at 652-3976. The PNNC welcomes everyone.
The Piedmont Plug!
Speaking of Neighbors and Newcomers, I keep getting compliments on my sassy hair do and wanted to share the name of my latest hairdresser who lives right here in Piedmont (small world). Stacie Jesse and I met last year at The PNNC margarita party and ran into each other again at Market Hall last week. I was lucky enough to get an appointment that Friday and was thrilled with the outcome. With this kind of talent close at hand, I am done driving to San Francisco for a hair appointment. Stacie works at Moonshadow Hair Salon at 2634 Ashby near College Avenue and she's not only a gifted hairdresser, she's also a good listener! 510-841-4696
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 respond to this email. 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.
This week's Multiple Listing Service (MLS) shows 16 houses on the market in Piedmont with an average list price of $1,928,375 and average days on market (DOM) reported at 46 days. As we approach the end of the first quarter, how does this compare with last year?
Here's the news . . . the average sales price is UP from last year's average sales price of $1,598,136, and inventory is down. It is important to note that average sales price is skewed by the fact that last year we sold several 2bdrm/2bth-starter homes with entry-level prices under one million. This year, the entry-level home has barely made a showing, leaving many younger buyers waiting on the sidelines. (Typically, starter-homes become available as families grow and expand, requiring a larger house. If the "four-year" home was bought in the last four years however, those buyers can't afford to sell in this market- just yet.) Thus, we aren't seeing starter-homes churn the market, the way they have in the past and that affects every level of the marketplace.
With inventory lighter than usual, demand should be high. So why isn't everything selling?
Demand is high, but buyers have become far more discerning - as have their lenders. Any flaw is going to be magnified three-fold in this more conservative marketplace where the buyers seem to be limited to those who "need to buy," versus those who "want to buy." Thus, the pool of buyers on any given Sunday, is largely comprised of those that are expecting, those that can afford to move, those that have had a job transfer and those that are downsizing. Still, they represent incredibly motivated buyers and I suspect, buyers that will have made timely decisions when this all plays out.
In short, buying in what may be, a declining market, may be the smartest decision you make - value exists now. Previously, you were buying your appreciation up front and waiting for the market to catch up. Now your home should appreciate in real time - and that's good news!
What's Coming?
The Storybook Colonial complete with white picket fence on Requa Avenue is the newest addition to the Piedmont marketplace. With 4bdrm/4bth, spacious brick patio with stunning south bay view, and central Piedmont location, it is highly desirable and attracting interest. Offers next Tuesday! Price:$2,595,000
For a great little investment property nearby, I really enjoyed the 2-unit property near Piedmont Avenue on Panama Court. This adorable 2bdrm/1bth Cottage with detached 1bdrm/1bth rental unit and separate office, sports a killer location, designer kitchen, and sunny backyard. It's a winner and offers a nest for retired parents, grown children, college students, professional couples, or young families. I love the possibilities here and there are many. Price: $799,000 www.4040PanamaCt.com
Both of these properties will be open this Sunday as will many others. Which properties would you like to see?
What's Pending?
My stunning "Mark Becker" Traditional listing on Neva Court in Montclair went pending last week with three offers. Like the story of Goldilocks and the Three Bears, one was "just right." Aside from a strong offer price, what set it apart? In short, the agent did a full-press job of explaining the story of her clients, their motivation for buying this particular property, how they envisioned living in it and why they had fallen in love. She drafted a thoughtful contract with extremely tight time frames for inspections and left little to be negotiated, leaving her competitors in the dust. For my sellers, the choice was easy!
Does selecting the right agent really make a difference? You bet it does.
Does experience and local representation set an offer apart? Definitely!
What's Happening?
The spacious, centrally located Traditional on Mountain Avenue has had a dramatic reduction and is now listed for $2,350,000. Likewise, the completely renovated Grand Mediterranean on Westminster Drive, near the Claremont Country Club has also been reduced and is now listed for $3,750,000. Both of these properties are truly special and offer ample room and gracious living. Now that's news!
Fact: When prices match the market's expectations, properties sell quickly and often, with more than one offer. Now that both of these homes have been significantly reduced, interest should swell.
What's Fun!
The Piedmont Neighbors and Newcomers Club invites you to join them at their annual wine tasting party this Saturday evening, March 29, from 5-7 pm, at The Vine Bar at 3343 Lakeshore Avenue. This fun event is an opportunity to taste some new wines and meet both old and new friends alike! Contact Hilarie Shelby for more information at 652-3976. The PNNC welcomes everyone.
The Piedmont Plug!
Speaking of Neighbors and Newcomers, I keep getting compliments on my sassy hair do and wanted to share the name of my latest hairdresser who lives right here in Piedmont (small world). Stacie Jesse and I met last year at The PNNC margarita party and ran into each other again at Market Hall last week. I was lucky enough to get an appointment that Friday and was thrilled with the outcome. With this kind of talent close at hand, I am done driving to San Francisco for a hair appointment. Stacie works at Moonshadow Hair Salon at 2634 Ashby near College Avenue and she's not only a gifted hairdresser, she's also a good listener! 510-841-4696
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 respond to this email. 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.
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3:28 PM
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