Tidings of Comfort and Joy! The Piedmont Perspective, Vol 77 - December 18, 2008

What's New?

There's nothing that brings a smile to my face as quickly as the lights of Christmas. I'm giddy as a kid on Christmas morning (although my family celebrates Hannukah) as I drive the blocks taking in the bright strands of colors. I am especially thrilled when I discover new additions to the streetscape that light the night sky. Even the tackiest of displays brings me great joy. You have to admire the passion that goes into every gaudy plastic Santa or snowman. There's real pride in each of these holiday displays, be it Martha Stewart or Jed Clampet. Even the cemetery dresses up in full regalia (really - drive through it with your kids) and this year, we have snow in Tilden Park to add to the wonder. All of it is a reminder to me of the celebration of the holidays and the overwhelming love of home.

In a year where turbulence has ruled the day, not a week goes by that a friend or a client doesn't worry out loud about the value of their home. You've approached me at soccer matches, football games and school events; at cocktail parties, fund raisers, and the grocery store, at the bank, the gym and the hairdresser's; while pumping gas, dancing salsa or walking the dog. Suddenly I've become very popular!

In short, almost every homeowner has some concern about the current value of their home and why wouldn't they? In a climate that seems to serve up disconcerting news almost daily, it follows that people would worry about a deepening recession.

Given that many of us have a tremendous amount of equity invested in our homes and that many more of us are counting on their significant appreciation to supplement our retirements, we ALL have legitimate cause for concern. Don't we? Weren't we lead to believe that the ever-increasing equity of our homes would allow us to take our families on Safari, educate our children at Harvard and provide for our futures? (Yes, we were.)

Which isn't to say that your home won't provide these admirable ambitions in the end, but here's the thing - the value of your home is only relevant when you go to sell it! One more time because it's important - the value of your home is only relevant when you go to sell it! (It's like your weight is only important when you go to the beach!)

Like many of you, I bought my current property near the top of the market and in retrospect, I wish I had paid less (who doesn't?). Am I regretting my decision to buy? No. Why Not? Because I am planning on staying in my home for another ten years or so, which makes today's value essentially irrelevant. I'm not in the market!

For those of you that are in the market, the value of real estate is relative. You may be selling for less, but you are also buying for significantly less as well. This makes valuable sense (and cents) for those of you moving up and especially for those of you who are currently renting and don't have a property to sell in the current marketplace.

Believe it or not, there are sound arguments for taking advantage of this buyer's market (and the lowest interest rates in four years)! Even if you are losing on one end, you are more than likely gaining more on the other. Increased appreciation over time on the "up leg" should more than offset the losses on your current property.

Finally, the best advice I've heard is to stop thinking of your home as an investment . It's your home, first and foremost. As one smart friend (and savvy commercial real estate investor) insightfully stated, "I don't think of my home as an investment, I think of it as a proposition. It's where my kids live. It's where we gather as a family." (Thank you Peter, I couldn't have said it better myself.)

So save your anxiety for your stock portfolios (and for bathing suit shopping). Your home provides a unique "emotional value" that's hard to quantify and vastly different than the value of your stocks and bonds. But if it's peace of mind you seek, may I remind you that "Main Street" has historically outperformed "Wall Street" over and over again.

So string up a few more lights and honor your home - leaky skylights and all. You are one of the lucky ones. Tidings of comfort and joy!

What's Coming?

Debra Dryden has just listed a magnificent property at 38 Monte Avenue. This Stately Traditional on a exceptionally large corner parcel in central Piedmont, features 4+bdrms/3.5bths, grand foyer, sweeping staircase, elegant formal rooms with high ceilings and exquisite moldings, spacious study and sunny family room. Lovingly maintained, it boasts a new roof, professionally landscaped grounds, and upgraded bathrooms. Add a guest cottage and attic to the package and you have a true treasure! Price: $3,250,000. Shown by appointment only.

If Mid-Century Contemporaries are your preference, Angela Grubb's newest listing at 58 Crest Road, close to Hampton Field, offers a spacious living room, formal dining room and updated kitchen with granite countertops and large breakfast nook. Featuring three bedroom suites, attached 2-car garage and a permitted downstairs - perfect for a 4th bedroom, home theater or personal gym - this classic mid-century defines the "California lifestyle," complete with new deck, Bay view, level yard with built-in pool/spa and a changing room with half bath. Just in time for the new year! Price: $2,300,000

What's Pending?

The "fixer" at 138 Bonita Avenue has gone pending after only one Sunday Open and is in contract well above its asking price of $1,950,000. In spite of what might otherwise be considered tough timing, this brown shingle Traditional underscores the tremendous demand for central Piedmont and the willingness of buyers to commit to location, location, location - regardless of the season!

It also emphasizes the "sweet spot" that homes under $2,000,000 have carved out. Prudent buyers who may well afford more, are feeling justifiably conservative as a result of recent economic events and many are reassessing their needs. There's a sense that fancy cars and multi-million dollar homes are a bit extravagant in today's uncertain economy.

As a result, homes that provide "upside potential" are selling much more quickly than their counterparts, as demonstrated by the high number of "fixers' that have sailed off of the market in recent weeks.

And here's a few more to add to the list, the elegant Traditional listing on Sierra Avenue is now in contract as is the more modest Monterey Colonial on Oakmont Avenue, further suggesting that "upside potential" may be the new name of the game!

What's Happening?

The Yule Tide is here and I'll be taking a brief vacation with my family from December 20-27. I want to wish you all the happiest of holidays and a very Merry New Year! As we approach 2009, I am grateful for such good fortune but I am also cognizant that many others are struggling. As such, I am committed to contributing when and where I can and here's where you come in . . .

Throughout 2009, I will donate 10% of my net proceeds to the charity of your choice whenever I help you (or a friend) purchase or sell a home. Be it the SPCA, Habitat for Humanity, Glide Memorial Church, The American Red Cross, Piedmont schools, Children's Hospital Oakland, The Alameda Food Bank or the AIDS Grove - you pick the charity and I will promptly send a check after the close of escrow - and that's a win/win for everyone! So pass the news along and please send your referrals my way.

Together, we can truly impact some very worthy causes.

PS - The GRUBB Co. is an official Toys for Tots drop off site! We want to thank you for your generosity and remind you that we are still collecting unwrapped toys for children in need.

What's Fun!

Last week, my good friend Maureen, invited me to join her on a field trip to a private viewing of a Barn House in Sonoma (Fun!). This charming harvest home was quite literally, a working barn in a previous life, but is now an elegant country chateau.

Designer and owner, Barbara Johnsen, boldly bought the barn frame when it was nothing more than numbered boards and had it shipped cross country, where it was reassembled by a well-trained team in less than two weeks time!

Once built, her local contractor took over and finished this beautiful and historic abode, complete with silo and weather vane! Featuring hand-hewn beams, random plank floors and nutmeg in the air, this now restored and rejuvenated structure has a whole new life as an inviting contemporary home with all of the charm and age of yesteryear and all of the modern conveniences of today. I loved every single inch of it! Hmmm. . . there may be a barn in my future. (I already own the weather vane!)

The Piedmont Plug!

Is there a barn in your future? (Think guest house, think vacation home, think rebuild!) This really is an exciting and interesting option and your opportunity to own your own piece of historic Americana. To learn more or see how Barbara's house was built, go to: www.Californiabarndesign.com or call Barbara Johnsen at 707-318-1711. She's happy to share her experience and encourages you to consider a Barn House of your very own! Barbara can also be reached at bjid@earthlink.net .

Merry Hanukkah and a Happy New Year. See you in two weeks!

THANKS FOR READING!

For more information about any of the properties or events listed above, please call me at (510) 339-0400 x264, or email me at jgardner@grubbco.com. 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.

"Sacred Rituals," Fa La La La! The Piedmont Perspective, Vol 77, December 3, 2008

What's New?

"Do you still make your bed every day?" Molly laughed, poking fun at me after a crisp morning walk along Crissy Field a few weeks back. (Molly and I met when our 17 year-old sons first entered the same kindergarten class many years ago and we've only grown closer over time.) Having garnered the well-honed reputation as a bit of a "neat freak" back then (doesn't everybody arrange their children's toys by alphabetical order and animal phylum?) it didn't surprise Molly in the least when I answered that I did.

"Training from my dad," I replied, taking a sip of tea, "He didn't allow us downstairs until our beds were made." With six active kids under one roof, I suppose it was my folks' way of keeping some small (very small) semblance of order in the house. You made your bed every morning or you didn't eat breakfast!

Some habits are indelibly ingrained. Thanks to my dad, I never leave the house without tightly tucking in the sheets, pulling up the comforter and neatly ordering the pillows. The rest of the house might look like the epicenter of an 6.8 earthquake, but I always make the bed (which is slightly problematic when my husband is still in it . . .) To me, making the bed each morning is a sacred ritual.

The sacred ritual in real estate is what's commonly known as "Broker's Tour." Broker's Tour takes place every Monday and Thursday mornings. In the East Bay, it geographically encompasses Oakland, Piedmont, Montclair, Rockridge, Berkeley, Albany, Kensington and El Cerrito. At The GRUBB Co., we also preview each other's listings every Tuesday mornings as well. (Whew, that's a lot of ground to cover!)

Broker's Tour is an agent's opportunity to see any new listings that have recently hit or are about to enter the marketplace. This critical "sneak peek" allows us to view many properties in a condensed time period and is the best way to stay on top of the inventory. It isn't atypical for me to visit between 10-15 homes on any given tour day (that's approximately 30 homes a week and 120 homes a month for those of you who are counting).

While touring is the surest way to stay current, it isn't the only way. Many agents rely instead, on The Multiple Listing Service (MLS) to provide daily analysis and updates. While the MLS is an extremely valuable tool, to me, a "virtual tour" can never replace the importance of physically visiting a home.

Experiencing a home in person is the surest way to define whether or not a property meets my clients' criteria and needs. It tells me about the particular style of a home and its surrounding neighbors. It shows me where the sun comes in and how the garden grows. It informs me as to the quality of the craftsmanship, the age of the home and its care. It gives me the opportunity to question the listing agent as to the seller's motivation and needs. Touring, tangibly highlights a home's specific story and it allows me to see a property through my buyers' eyes. By previewing a home, I know what it has to offer and just as importantly - what it doesn't.

Here's the piece that's significant to you (oh good) - not every agent tours. In fact, I can say with assurance that only a small minority of agents do! If you are counting on an agent to be your first line of defense and your eyes and ears, doesn't it make sense to work with a representative who tours on a regular basis and makes it part of her weekly practice?

Why?
The obvious reason is that those of us who tour religiously know the inventory better, but the less obvious and more important piece for you is that we understand the bigger picture and how it affects your potential outcome.

We know which properties sold quickly and why; which ones faltered and needed to be reduced; which ones compare favorably to recent sales and which ones are vastly different or unique. We know the area's geography, its nearby shops, parks and schools and its closest BART station or freeway onramp. In short, we've done our homework and are better prepared to save you valuable time and money as a result (or did you really want to see 120 homes in person?).

So before aligning yourself with an agent, it might benefit you to find out if he or she tours regularly; which areas does he/she tour most often, and which homes has he/she recently seen? Ask him/her if he/she has bothered to preview the property before taking you to see it and if not, ask yourself, "What value does this agent actually bring?"

For top professionals, there is a time-tested reason why the weekly Broker's Tour is considered one of our most sacred rituals. While admittedly, touring is time-consuming (which is why many agents skip them altogether) it is simply one of our best and most important educational resources.

Now whether or not it's important if we make our beds is entirely up to you!

What's Coming?

Angela Grubb brings a sleek Contemporary to the Piedmont market on Sunday, December 14, at 58 Crest Road. Close to Hampton Field, this spacious level-in home offers a large living room, formal dining room and updated kitchen with granite countertops and large breakfast nook. Featuring three bedroom suites, attached 2-car garage and a permitted downstairs - perfect for a 4th bedroom, home theater or personal gym - this classic mid-century defines the "California lifestyle," complete with new deck, Bay view, level yard with built-in pool/ spa and a changing room with half bath. Now wouldn't that make a nice holiday gift? Price: $2,300,000

Anthony Riggins has just listed a split-level 1940's home with big level garden and I predict this one is going to sell quickly. Priced at only $675,000, this 3+bdrm/3bth home with bonus space, large open floor plan and great proximity to Lakeshore Avenue will have only one open house before taking offers next week. If you have been waiting for a Crocker Highlands opportunity, look no further. This sweet home and setting offers true value! Open Sunday 2-4:30. www.Grubbco.com

What's Pending?

While some of you were gobbling up turkey and fixin's or utilizing the time off to steal a few days away with your families, others stayed closer to home to beat out absentee buyers and were greatly rewarded. Hint: The holidays traditionally represent the best values!

If a move is on the horizon for 2009, I encourage you to seriously consider a purchase now - before competition returns to the marketplace. With interest rates once again at historically all-time lows, you may qualify for a bigger than anticipated opportunity!

The impressive "fixer" at 412 Monte Vista in Oakland went pending over the holidays. This stunning turn-of-the-century mansion, requiring a complete overhaul, is ripe with possibilities. With four offers and an asking price of $989,000, it enjoyed heavy competition. It is significant to note that GRUBB CO., agents Anja Plowright and Colette Ford, crafted the winning offer! Congratulations to the buyers.

What's Happening?

Piedmont currently has 21 homes listed for sale and has closed a total of 74 homes year-to-date. How's this stack up to last year? As you might suspect we are down a bit (close to 25%) but the news is hopeful. Last year, 101 homes had transferred ownership by the end of December 2007. With 21 homes still waiting to sell, we could potentially bring 2008 sales within striking distance of 2007!

While this is traditionally the time of year that home sales slow due to the holidays, I do want to remind you that properties for sale at this time of year aren't "testing the market." Don't be afraid to step in with an offer.

Here's the bigger picture -Sales are actually UP this year in The GRUBB Co. offices for the month of November! Last year at this time, The GRUBB Co. had 31 homes under contract, while this year that number has swelled to 42! More significantly, of the 90 properties that transferred ownership in our defined sales market (Rockridge, Montclair, the Oakland Hills, Berkely, Kensington and Piedmont) The GRUBB Co. was responsible for almost half of them!

Now why would you work with anyone else?

What's Fun!

Expanding on the theme of sacred rituals, the holidays are full of them, beginning with tonight's Annual Tree Lighting Ceremony in the center of town. Complete with Christmas carolers and warm hot chocolate, it's an inviting evening - even if Christmas isn't traditionally part of your holiday landscape. Please join your friends and neighbors for this wonderful Piedmont holiday ritual.

The Piedmont Neighbors and Newcomers Club invites you to join them at their annual holiday fete this Saturday, December 6 from 5-9PM. This year, it is being held at the beautiful home of Mike and Vicky O'Bresly on Bonita Avenue. Whether you are new to Piedmont or descend from the town's founding fathers, your presence is always welcome. Contact Trina Milos at trinamilos@yahoo.com for reservations. Haven't joined the Piedmont Neighbors and Newcomers Club yet? What better time to do so?

The Montclair Village hosts its Annual Holiday Village Stroll tomorrow evening, Thursday, December 4, from 6-9PM. Shop, stroll and enjoy the merriment of the season! Everyone's doors will be open. Get your holiday shopping behind you.

Santa makes an encore visit to The GRUBB Co. on Saturday morning, December 13 from 10AM-noon. There will be coffee, cider, cookies and complimentary photos with jolly ol' Saint Nick. Ho, ho, ho! Please join us then.

Finally, the Boys Scouts remind you that their annual Christmas tree lot is open for business at Coach's Field every day after school and on weekends through Christmas Eve. Trees, wreaths and garlands are all available for immediate purchase. Proceeds benefit the local Boy Scouts!

The Piedmont Plug!

Speaking of wreaths, what holiday decorating is complete without a winter wreath? Designer, Deborah Lewis Gadbois has set up a design studio in her Piedmont home on Inverleith Terrace and will custom design a wreath perfect for any holiday setting.

Pick from one of her many beautiful ready-made wreaths for immediate purchase and delivery or select components to match your specific requests and décor (mine is so pretty, it now sits above my fireplace year round!). These creative and stunning wreaths by Lewis Designs will last for many years and can easily alternate with the seasons. (Why stop at Christmas?)

While we all know her husband Ray to be an extremely dedicated Piedmont School Board member, Debbie is clearly, the real talent in the family! For an appointment, call 510-410-2552 or email her at deborahgadbois@hotmail.com.


With the holidays fast approaching, I will be cutting back my e-column to every other week until 2009. See you in two weeks!

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 email me at jgardner@grubco.com . 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.