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.

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.

So Your Chickens Have Flown The Coop!

What's New?

This week’s Multiple Listing Service reported 13 homes for sale in Piedmont with a low of $899,000 on Oakmont Avenue and a high of $5,600,000 in Wildwood Gardens. Obviously with a spread that large, one can expect these home to range dramatically in scale, room count and lot size and to appeal to dramatically different buyers as well. Irrespective of the price point or the buyer, every property must ultimately find its intended market - and in real estate - the sooner, the better! Or to put it another way, what is the shelf life of a listing?

Like any commodity, shelf life runs about one season before the consumer expects a significant discount. Retail versus wholesale - which market will you find yourself in?

While several quality homes have yet to find their next owner, others have gone in quick time, proving once again, that perceived value is the most important component when selling your home. I'm going to repeat that phrase because it's key - perceived value is the most important component. This holds true whether the property is in pristine condition or a total "fixer." As long as the buyer perceives value in it, the property will sell. Last year, several fixers sold for a premium, leaving agents to wonder whether we should be taking a sledge hammer to our listings instead of staging them (only kidding, but you get my point).

In this mixed market, the buyers must inherently grasp the value of your home. Moreover, they must understand that value quickly. The optimum time period to sell your home is within the first three weeks!

Languishing homes often accrue an undeserved perception. Buyers begin to suspect that flaws exists when no one has attempted to purchase the property, or worse yet, they fear the seller has unrealistic expectations. Even if neither of these conditions is true, misconceptions can sabotage the outcome. You get one chance to make a first impression. Make it an effective one!

The Historical Home on Craig Avenue was a real treat on tour on Monday. This immaculate Victorian Beauty bridges yesteryear charm with today’s need for more contemporary living. Offering 5bdrms/3.5 bths, family room and dramatic backyard, its central location provides the icing on the cake for anyone seeking a larger home close to Piedmont Park, Piedmont Schools, Exedra Plaza and Mulberry Market.

What's Coming?

I have listed a stunning Montclair "Mark Becker Tradtional" which offers the best of Oakland Hills living! This 1997 custom designed Mediterranean-Styled Beauty at 32 Neva Court, boasts 4bdrms/2.5 bths, master suite, family room with built-in dual office, chef’s kitchen, hardwood floors, arched doorway and intimate back garden complete with built-in barbecue, gas fire pit, play house and canopied dog run. Close to Montclair Village and thoughtfully designed in every detail, who could want for more? Open this Sunday from 2-4:30. Exit Broadway Terrace on the Montclair side and follow my signs! The website for this property will be up and running by tomorrow! To view pictures online go to: www.32neva.com or go to www.grubbco.com .

A local agent slipped a "Coming Soon" flyer into my pendaflex last week about a centrally located, Classic Colonial on Requa Avenue, complete with white picket fence, 4bdrms/4++ bths, formal living and dining rooms, library, kitchen, rumpus room and covered terrace, but you'll have to call me if you need more details. I would love to show it to you!

What's Pending?

The Spanish-style Hacienda at Wildwood and Windsor has gone pending with four offers! (Remember last week’s topic; "A Tale of Two Agents?" This quick sale illustrates my point. A fantastic result for both the buyer and the seller. Now isn’t that what you are looking for in your agent?

The Grand Brown Shingle on Kingston also went pending last week. I absolutely LOVED this home and wish it had been on the market four years ago when I bought my Piedmont home. Truly, a special property and a very fortunate new owner. (Maybe I can wrangle an invitation to the housewarming.)

Angela Grubb's view listing on Scenic Avenue went into contract last night. There really is a perfect buyer for every property.

What's Happening Now?

So your chickens have flown the coop and you are considering capitalizing on the equity in your Piedmont home – yes? Think no more, Carolyn Jone’s wonderful Craftsman Bungalow on Linden Avenue in the Elmwood District of Berkeley offers stunning style, designer charm and ease of living. Situated close to College Avenue, this darling and pristine Craftsman with hardwood floors, period details and English garden really does have it all. Have I peaked your interest? I hope so. Please call for a private showing.

For those of you over 55, downsizing can offers real advantages in terms of transferring your current tax base. For more information about your options and whether you qualify for this program, please give me a call.

What's Fun!

From chickens to turkeys . . . wild turkeys arrived on my property on Littlewood yesterday - much to my Black Labrador's consternation. Large numbers of them were enjoying the creek in full song (they really do gobble) and this morning as I was taking my son to school, another group was prowling our cul-de-sac. I have often heard turkeys over on the Sandringham/Lexford side of town, but never had the pleasure of seeing one strut by my kitchen window in all of its feathered glory. They really are spectacular. Fun fact, Ben Franklin lobbied to make the Wild Turkey our national bird as opposed to the Bald Eagle. Perhaps Piedmont should adopt this rather stately and proud bird as its town mascot. From what I can tell, the peacock's got nuthin' on the turkey!

The Piedmont Plug!

Piedmont Avenue's newest hip business, McMullen is hosting a mini Trunk Show featuring Allegra Hick’s Autumn/Winter 2008 Collection. Please make time to view this beautiful collection and pre-order fall pieces for your wardrobe. Ladies, if you haven’t yet discovered this fantastic new dress shop (gentlemen you can stop reading now) you haven’t seen the best fashion has to offer. Across from the Harmony Music School, the collection will be shown today, Wednesday March 12, from 11-5 pm. McMullen is at 4395 Piedmont Avenue, Oakland, CA 94611, 510-420-6906. Everyone is welcome!

P.S. Care to share an upcoming event in the "What's Fun" category? Feel free to write back with any suggestions you may have. I love new ideas. I'm also busy filling in the community calendar. Look for updates at www.thepiedmontcalendar.com!

A Tale of Two Agents!

What's New?

A few weeks ago I wrote about "A Tale of Two Markets." Today, I want to speak about "A Tale of Two Agents." I make it my business to see ALL of the available listings in Piedmont. Knowing what is available and what has sold (and for how much) is incredibly important not only to me, but to my clients as well. Usually, I do this on Monday mornings during Broker’s Tour, but knowing I was going to be tied up in home inspections on a property I sold last week, I went out on Sunday afternoon instead.

I was anxious to see a particular home that has had a "Coming Soon" sign posted in front of it for the last 3 weeks. I was anticipating a cute cottage, offering a price point sure to entice my "starter" buyers. Suffice it to say, that wasn't the case.

Piedmont real estate is a luxury commodity and should be marketed as such.

To be fair, the agent’s assistant was very sincere and had greeted me warmly as I arrived, but after introducing myself and my company, he asked me if I knew of a local agent that would be willing to hold the property open on Sundays. He went on to say that he and the listing agent both live on the Peninsula and that Piedmont was difficult to accommodate. Huh?
When I inquired as to why, under those circumstances, they had taken the listing, he responded, "We know the owners."

Contrast this experience to the next open I visited at the corner of Wildwood and Windsor Avenue which also came to market this past Sunday, but with a local agent. She priced the property aggressively, personally phoned her colleagues to let them know the house was ready to show, professionally staged the property, created beautiful color brochures, posted a slide show on the company website, strategically placed signs around town, advertised in the local paper, and even had an old-fashioned lemonade stand out front! (Whether this was by design or by chance, it really created the small town atmosphere we have come to expect in Piedmont.) No surprise – it was packed!

If friendship or nepotism are your only criteria when selecting an agent, you are doing yourself a disservice!

This isn’t to say that a family member or close friend might not be the perfect fit for you - they often are - but only IF he or she is also a local agent. Given the number of agents in town, chances are you already have many good choices from which to choose.

I often give my business to friends and enjoy doing so. I firmly believe a friend is more invested in my success, but I also understand the viewpoint that embraces anonymity as well. Either way, make sure you hire an agent who knows the market intimately, is respected by their peers, is comfortable with the Internet (where 72% of buyers and sellers now begin their search) comfortably communicates, has a successful track record of negotiating and closing deals, and above all else, puts your needs above his or her own!

What's Coming?

Anthony Riggins brings to market a Stately Tudor on Northvale Road in Crocker Highlands. This stunning three-story home offers 6 bdrms/4bths with fabulous master wing, featuring a designer bathroom with Provence-style tub and large walk-in closet. Offering a ‘home within a home,’ the third level features two bedrooms, flanking a center family room and a full bathroom for the ultimate in teen privacy! New chef's kitchen opens to rear garden and gated entertainment area perfect for hosting large Al Fresco gatherings in style! Open this Sunday 2-4:30. Price: $1,395,000.

Judy and Ben have been busy and this week they unveil another beautiful Crocker Highland's home. This Romantic Revival-Style beauty on Paramount Road, was built in 1925 but has been extensively upgraded. This home features 4bdrms/2.5 baths, chef's kitchen with Thermador range and two dishwashers (I'm jealous), formal living and dining rooms, landscaped garden with brick patio and lower level bonus room! Open this Sunday 2-4:30!

What's Pending?

67 Glen Alpine Road went pending last week. This very petite 1bdrm/1bth cottage, less than (1150 square feet) on a very LARGE lot went quickly. Surrounded by multi-million dollar estates and true privacy - it’s no wonder! I expect we will see a new home break ground in the near future.

120 Dracena Avenue also went pending last week. I am pleased to report that I negotiated that sale (which explains the inspections). The buyers, along with their three lovely daughters are looking forward to living in Piedmont and synchronizing their girl's schedules (ah, the simplicity of Piedmont). Dracena is a wonderful block and now it has just gotten even better!

What's Happening Now?

The market is brisk, but the funding behind it is once again tightening up! Today we received news of loans that have been approved, but not funded come close of escrow. Why? This is due to a lack of liquidity in the secondary market. Please double check with your mortgage broker to ascertain the source of your funding and make sure that your liquid assets are in deed, liquid! No one likes surprises at the close of escrow - least of all, you.

What's Fun!

I stole away for one quick weekend and came back to find the town in full bloom! This is truly my favorite time of year in Piedmont. Grab your kids, your dog, or better yet, a friend and head out the door for the spring display of tulips, magnolias, daffodils and cherry blossoms. It doesn’t get any prettier than Piedmont in the spring. I know my favorite gardens along the way. What are yours?

See you next week!

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.comfor more information as well.

The Blooming Spring Market!

What's New?

Storming weather prevailed on Sunday, but for those brave souls who were out and about, it was well worth donning your umbrellas and braving the elements. In spite of the blustery day, the opens were well attended. After waiting for weeks for the Spring Market to arrive - it has, and with great style! Apart from the blooming magnolias and fragrant cherry blossoms that dot the landscape, new listings are starting to pop up like tulips! Piedmont currently has 14 active listings and among them are several terrific new options and choices that offer everything from fixers to stately manors.

Mindy Scott is representing a 4bdrm/2bth home on LaSalle Avenue which unfolds into a surprisingly large home. This seemingly modest Mediterranean home from the street, is anything but - with a large family/media room down and expansive grounds. This unique home is well worth a stop to discover all of its space and charm - both inside and out.

The dynamic mother and son team of Judy Cain and Ben Kahn, have brought a 3bdrm/2bth Romantic Craftsman Bungalow to market on Kingston Avenue. Featuring a tropical garden oasis and bold colors throughout, it packs a designer’s punch!

Not to be missed, further down Kingston, sits a Grand Brown Shingle Traditional on a large level lot featuring 4bdrms/2bths, remodeled kitchen and baths, original woodwork, fine bones and gracious spaces throughout. This 1891 masterpiece has been thoroughly updated and offers tremendous charm in every crafted detail. Situated close to Piedmont Avenue, this stunner offers a terrific location for those wishing to access the movie theatre, restaurants and shops easily. Run - don’t walk to see this magnificent nod to a bygone era.

Finally, if you would like to be neighbors with me (the unofficial "mayor" of Littlewood, which is code for I host great block parties) a Mid-Century Contemporary 4bdrm/3bth home, built around a central courtyard with pool awaits a new owner seeking modern living. This one may fly under the radar as no sign is posted out front and its agent is not local. Still, this may be exactly the right home for you on a friendly cul-de-sac! You could close escrow just in time for our annual potluck!

Please call me for a showing of any of these fine properties (or any others).

What's Coming?

Judy and Ben are also busy bringing a Grand Mediterranean to the market this weekend! This spacious and light-filled home at the corner of Winsor and Wildwood Avenues, features 4bdrms/2.5bths, "heart-of-the-home" kitchen, formal living and dining rooms, and lower level with flex room and separate entrance, just right for au pair quarters. Professionally landscaped rear garden and brick patio creates the perfect "Al Fresco" experience. Open Sunday 2:00- 4:30.

The GRUBB Co. had the opportunity to get a sneak peek at Anian Tunney’s sensational new listing on Sheridan Avenue earlier today. This stunning, tree-lined property, offers not one, but two charming homes on one parcel! Whether you are seeking a family compound, a home with guesthouse opportunity or are interested in a truly large lot, when special properties like this one come along, they are worth previewing. Why wait until Sunday? Act quickly and line up those all-important ducks. You won’t want to miss this tremendous opportunity. Open this Sunday from 2-4:30! To see more go to www.Grubbco.com.

What's Pending?

Did you miss 97 Sea View? Were you waiting to see how the market would respond? This extraordinary all-level Contemporary drives home my point of springing into action when the right home arrives. Situated on one of the most desirable streets in Piedmont, this Modern Day Classic had a ratified offer in place before the first Sunday Open!

Savvy sellers often recognize that the first offer is usually the best offer, while motivated buyers aggressively pursue their goal!

There is a narrow window of opportunity for the right home. Being a casual observer may not be an effective plan if your goal is to own a home!

11 Pacific Avenue also went pending last week. A great, centrally located shingled home, it is sure to provide years of memories for the lucky buyers. Congratulations to all parties involved!

Mindy Scott and Anne Feste's Storybook Traditional listing went pending yesterday. Tucked inside the exclusive enclave of Wildwood Gardens, it clearly attracted attention.

What's Happening Now?

After a few days off skiing with my younger son (he boards, I don’t bounce nearly as well) and time enough to get away from hectic school schedules, I have suddenly gotten very busy with requests for showings, potential listing appointments, calls from former clients and best of all - escrows! That’s happy news, but I am hardly alone. Many of my colleagues are experiencing this quickening pace as well, which bodes well for a vibrant and healthy market in general this spring.

Keep in mind however, that increased activity means that buyers may find themselves in competition once again. As for sellers . . . the demand is high for well-priced homes! Fully 50% of The GRUBB Co’s transactions are still going in multiple offers!

How can I help you navigate this Spring Market?

What's Fun!

For those of you who stayed in town last week, you were treated to some really exciting sports displays as the Piedmont High School girls and boys teams excelled on the athletic fields. If you have yet to discover the fun of joining Piedmont’s town folk to support our young players as they pursue their love of sport, give it a go. There’s always something exciting to watch, whether it’s football, soccer, basketball, tennis, rugby, lacrosse or water polo! Your attendance is always welcome.

See you next week!

Feel free to visit my website at JulieGardner.com for more information as well.