Is a Bird in the hand Worth Two in the Bush?
What's New?
The Piedmont Perspective is what's new! New look, new template but the same tried and true format. I've been paying attention to your emails and hopefully, this new look makes it easier to read and respond to (especially for you MAC users). Thanks for your astute comments and observations.
Fifteen houses are currently on the market with this week's addition of 19 York Avenue. This 1921 Piedmont Traditional is in need of MAJOR renovation and updating and offers a location near Grand and Piedmont Avenues. With 4bdrm/3.5bth, and original details throughout, this is a complete remodel from foundation to roof. If construction and renovation ring your bells, this may be the house for you - but only if you know this road well. This is not a cosmetic fixer.
However, IF a remodel project is high on your priority list, I suggest taking another look at Mindy Scott's listing on LaSalle Avenue. This home offers far greater upside potential. Although it presents a nontraditional lay out at first glance, unique floor plans often turn out to make the most interesting homes at the end of the day. Surprisingly large inside (and out) this sweet Mediterranean is surrounded by three to four million-dollar properties. As such, you would be hard pressed to "over improve" in this coveted location. From a serial renovator's perspective (that's me) this home is worth penciling out.
What's Coming?
Price reductions are coming. The handsome Brown Shingle Home on Estrella Avenue has been reduced $75,000 and is now $1,575,000. This traditional home, offering 4bdrm/2bth has old-world charm and spacious rooms with original woodwork and detailing. If you were considering this house before, it just got more affordable.
Stay tuned for other properties to reduce their asking price as well. Homes that have been on the market for more than one month are overdue for a price reduction. (Currently, that represents eight of the fifteen properties for sale in Piedmont - or more than 50% !)
What's Pending?
The beautiful Spanish Mediterranean on Grovesnor Place went pending last week, as did the lovely Traditional on Paramount Road. Crocker Highlands and Rockridge are experiencing incredibly strong demand this spring. This is largely a matter of price. Everything sells at the right price, bringing last week's topic of "perceived value" back to the foreground (a topic we will be visiting time and again.) If a house is not priced correctly or if there is a perceived deficit, the market will not be generous . . .
It is truly a science to correctly identify the price at which a home should list. At The GRUBB Co., we often bring the entire office through to price a property. Why? To create objectivity in our pricing perspective. Everyone will have a different price in mind, but the consensus is where we often find the true value!
What's Happening?
The Open House at my Stunning 'Mark Becker' Traditional listing on Neva Court (www.32Neva.com) in Montclair was well attended this past Sunday, thanks to motivated buyers and sunny skies. With four requests for disclosure packages and strong numbers of private showings already in the works, my sellers may be looking at offers as soon as this Thursday which begs the question . . .
Is the bird in the hand worth two in the bush?
The short and emphatic response is "yes!" Unlike yesteryear's market where the standard practice was two Sunday Opens with offers presented the following week (often in double digits) today, we are working against a media onslaught rife with uncertain economic and real estate news regarding the stock market and the shrinking American dollar. With that in mind, it is important to remember that the first offer usually represents the most motivated buyer. Why wait? If you have qualified buyers interested in your home, welcome them to the party!
What's Fun!
Speaking of birds, Katy Polvorosa reminds us to remember the PAINTS Birdhouse Gala coming up on May 23 here in Piedmont. This fun annual event, graciously hosted at the home of a Piedmont resident, is easily one of the highlights of the spring season. PAINTS raises funds to keep art alive and thriving in our public schools by auctioning off one-of-a-kind birdhouses and other art work for your home and garden. Come early to get your silent bids in and count on having a good time at this well-attended gathering. Please mark your calendars now for the Birdhouse Gala and look for your invitations to arrive soon! www.piedmontpaints.org
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.
The Piedmont Perspective is what's new! New look, new template but the same tried and true format. I've been paying attention to your emails and hopefully, this new look makes it easier to read and respond to (especially for you MAC users). Thanks for your astute comments and observations.
Fifteen houses are currently on the market with this week's addition of 19 York Avenue. This 1921 Piedmont Traditional is in need of MAJOR renovation and updating and offers a location near Grand and Piedmont Avenues. With 4bdrm/3.5bth, and original details throughout, this is a complete remodel from foundation to roof. If construction and renovation ring your bells, this may be the house for you - but only if you know this road well. This is not a cosmetic fixer.
However, IF a remodel project is high on your priority list, I suggest taking another look at Mindy Scott's listing on LaSalle Avenue. This home offers far greater upside potential. Although it presents a nontraditional lay out at first glance, unique floor plans often turn out to make the most interesting homes at the end of the day. Surprisingly large inside (and out) this sweet Mediterranean is surrounded by three to four million-dollar properties. As such, you would be hard pressed to "over improve" in this coveted location. From a serial renovator's perspective (that's me) this home is worth penciling out.
What's Coming?
Price reductions are coming. The handsome Brown Shingle Home on Estrella Avenue has been reduced $75,000 and is now $1,575,000. This traditional home, offering 4bdrm/2bth has old-world charm and spacious rooms with original woodwork and detailing. If you were considering this house before, it just got more affordable.
Stay tuned for other properties to reduce their asking price as well. Homes that have been on the market for more than one month are overdue for a price reduction. (Currently, that represents eight of the fifteen properties for sale in Piedmont - or more than 50% !)
What's Pending?
The beautiful Spanish Mediterranean on Grovesnor Place went pending last week, as did the lovely Traditional on Paramount Road. Crocker Highlands and Rockridge are experiencing incredibly strong demand this spring. This is largely a matter of price. Everything sells at the right price, bringing last week's topic of "perceived value" back to the foreground (a topic we will be visiting time and again.) If a house is not priced correctly or if there is a perceived deficit, the market will not be generous . . .
It is truly a science to correctly identify the price at which a home should list. At The GRUBB Co., we often bring the entire office through to price a property. Why? To create objectivity in our pricing perspective. Everyone will have a different price in mind, but the consensus is where we often find the true value!
What's Happening?
The Open House at my Stunning 'Mark Becker' Traditional listing on Neva Court (www.32Neva.com) in Montclair was well attended this past Sunday, thanks to motivated buyers and sunny skies. With four requests for disclosure packages and strong numbers of private showings already in the works, my sellers may be looking at offers as soon as this Thursday which begs the question . . .
Is the bird in the hand worth two in the bush?
The short and emphatic response is "yes!" Unlike yesteryear's market where the standard practice was two Sunday Opens with offers presented the following week (often in double digits) today, we are working against a media onslaught rife with uncertain economic and real estate news regarding the stock market and the shrinking American dollar. With that in mind, it is important to remember that the first offer usually represents the most motivated buyer. Why wait? If you have qualified buyers interested in your home, welcome them to the party!
What's Fun!
Speaking of birds, Katy Polvorosa reminds us to remember the PAINTS Birdhouse Gala coming up on May 23 here in Piedmont. This fun annual event, graciously hosted at the home of a Piedmont resident, is easily one of the highlights of the spring season. PAINTS raises funds to keep art alive and thriving in our public schools by auctioning off one-of-a-kind birdhouses and other art work for your home and garden. Come early to get your silent bids in and count on having a good time at this well-attended gathering. Please mark your calendars now for the Birdhouse Gala and look for your invitations to arrive soon! www.piedmontpaints.org
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.
posted by Julie at
3:56 PM
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