Batter Up! The Piedmont Perspective, Vol 89 - March 25, 2008

What's New?

Watching my son come up to bat last week, I was once again reminded how difficult baseball is - a game where even the best players in the world only get on base once out of every three attempts.

Statistically, baseball is a game of failure; a game where every miscalculated step or strike out is painfully on display for all to see. There's no hiding in the pack like with soccer, basketball, lacrosse or rugby (what exactly happens in a "scrum?"). Even water polo has plenty of activity to redirect the eye. Not baseball! While baseball is theoretically, a team sport, you often stand alone.

So in spite of the atheist in me, like many an anxious parent, I always pray for a little help each time my son approaches the batter's box or whenever a hit sails deep into left field toward his outstretched glove. Fingers crossed, eyes looking toward heaven, I silently pray, "Please, please, please . . ." as I watch him react and race to the ball.

At the risk of offending those who pray for more than baseball, I know that it isn't prayer that makes the difference in my son's success or failure - it's practice. Because so much time is spent waiting between plays, the inescapable truth is that my son will only be ready to act in the moment, if he is adequately prepared before he sets foot on the field. Mastering critical skills should happen before - not during - a game, so that when action is required, the play is automatic!

Preparation is the key in real estate as well so that when the right opportunity comes along, you are set to execute the corresponding play. Preparation starts with clarifying your goals and then qualifying your actions, understanding your finances and then pre-approving your loan, outlining a timeline and then visiting Sunday Opens, selecting an experienced REALTOR and then effectively communicating your needs (and that's just your warm-up). Fine tuning your real estate skills should happen before, you find the right home - not after.

While today's INTERNET generation is more apt to research and explore the market on their own, yesterday's consumer had it right in one important strategic component: they relied much more on their agent's experience and often started with a well-timed phone call to their Realtor FIRST.

Even with today's unrestricted access, there's no doubt that aligning yourself with a local REALTOR from the onset, automatically improves your odds in the game. No one wants to bunt if they should be swinging for the fences (and my husband thinks I don't know baseball!).

As a neighborhood specialist, I am in the best position to know what is coming to the market, what has withdrawn, what is due for a price reduction and which sellers are open to an offer long before the most adept Googler. Like a well-honed athlete (or a boy scout) it is my job to be prepared; to know the players, to understand their strengths and weaknesses and to manage the game from beginning to end.

So while I am more than happy to help the home buyer or seller who waits to contact me until the 7th-inning stretch, YOU are better served by capitalizing on my knowledge and experience from the very first swing. Like Baseball, Real Estate is essentially a team sport; however, unlike baseball - you never have to stand alone.

Just think of me as your personal batting, pitching, and base coach all rolled into one. I am your back up man, your "go to" girl, your supportive trainer and your strategic manager. I study the competition, know the landscape, and do my best to craft a winning game plan.

So whether it's a curve ball, an off-speed pitch or a fast ball crossing the plate (bear with me, I'm on a roll. You can think Tudor, Mid-Century Contemporary or quintessential Brown Shingle.) you will be prepared to hit the pitch out of the ballpark, round the bases and arrive safely at home!

Batter up!

What's Coming?

Anian Tunney has just listed 10 Huntleigh Road near Hampton Field in Piedmont. This chic and stylish home with gracious open floorplan seamlessly combines formal and informal living. Built in 1980, this beautiful Brown Shingle, features spacious formal rooms, inviting kitchen, beautiful brick patios for entertaining, family/media room down, elegant master suite, high ceilings, French doors and garden fountain. List price: $2,900,000. Shown by appointment only! www.grubbco.com

Anian Tunney has also listed 330 Hampton Road. This striking Contemporary was famed architect, Clarence Mayhew's, own home and features 4bdrms/3bths, walls of glass, family room off of the kitchen and lush gardens on a large corner property, nestled amongst California Live Oaks.
List price: $1550,000. Open Sunday 2-4:30

Don't miss Michelle Winchester's listing at 191 Sandringham Road. This beautiful Monterey Colonial features 5bdrms/3+bths, elegant formal rooms with Bay views, paneled library, big media/family room down and inviting brick courtyard. List price: $2,195,000. Open Sunday 2-4:30. www.191Sandringham.com

I will be back at 308 Pala Avenue this Sunday afternoon, 2-4:30pm. Please join me at this elegant Mediterranean which features 4bdrms/3bths, formal living and dining rooms, sunny spacious kitchen, bonus media/family room down and renovated rear garden in Central Piedmont.
List price: $1,850,000. www.308Pala.com

(I haven't mentioned every special home - just a few of my favorites! For a more complete guide, please feel free to email me at jgardner@grubbco.com or better yet, give me a call 510 326-0840!)

What's Pending?

The open and inviting view home on Scenic Avenue, listed for $995,000 hit the market last week and went pending very rapidly. This well-priced home sits squarely within the "sweet spot," I wrote about a few weeks ago. Homes perceived as a "good value" continue to attract strong attention!

While it's tempting to hold out for the "deal," it's really the "value" you want in this - or ANY market.

What's Happening?

Last week I spoke about the "tipping point" being near at hand and sure enough, Kenneth Harney's article in last Sunday's San Francisco Chronicle confirms my belief.

It's worth noting that Bank of America is leading the way in true Jumbo financing and will be originating loans up to $1,500,000 but they won't be alone!

For the last several months, loans above the "super conforming" loan limit of $729,750 have been difficult to come by and significantly more costly for the borrower, which has created a backlog of high-end properties.

With news that ING Group is offering loans as high as $2,000,000 and Luxury Loans of San Diego is underwriting mortgages from $3,000,000 - $ 6,000,000 for large commercial banks to put into their investment portfolios - homes that were previously unattainable may now be back on the table for high-end buyers.

Jumbo borrowers - start your engines!

What's Fun!

The annual Tri-School fundraiser takes place on April 4, 2009. This is the only event all year that benefits all three elementary schools.

Beach, Havens and Wildwood parents are cordially invited to attend Retro Fever Auction 2009! Celebrate, Dance and Dine at the Sequoyah Country Club and enjoy live music, great food, signature drinks, and far-out auction items, including children's art, vintage wines, exciting getaways and groovy parent parties. Now that's fun!

Tickets are limited so RSVP to:www.PiedmontSpringFling.org by March 30, 2009 to reserve your spot.

The Piedmont Plug!

Risking my neutral stance on all things political with respect to Piedmont, I am going to put in a plug for Measures B and E that are scheduled for a vote on June 2, 2009.

Together, these two measures address some (not all) of the lost revenue our schools have recently experienced due to BIG budget cuts in Sacramento. Measure B continues the parcel tax we already have in place, for an additional four years, while Measure E seeks to backfill a portion of the revenue that supplements Piedmont's fine academic programs.

Without addressing the complex feelings that surround these measures, I will speak as a local REALTOR who analyzes the market every week and wishes to remind all of you that our high property values are directly tied to the health and well-being of our PUBLIC schools. While other communties statewide have suffered the impact of dramatic downturns, Piedmont still remains relatively stable, due primarily to the strong demand for our K-12 education!

Compromise the quality of our children's education and you are sure to see a comparable decline in the value of your homes. As a community that has always placed a high premium on educational excellence, can we really afford to abandon this position now - especially now?

Yes on Measures B & E. "BE" Pro-Education!

PS - While some of us pay a disproportionate amount of property taxes, compared to our long-established neighbors, Parcel Tax money is exclusively for education here in Piedmont, and it is the only school tax money that we control 100% locally. Parcel Tax funds account for a much-needed 27% of the school's annual budget. So please feel free to forward this message. Every "yes" vote counts!


See you next week!

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 Sky Isn't Falliing! The Piedmont Perspective, Vol 86 - March 4, 2009

What's New?

Is it so wrong to enjoy the fact that the sun peaked out from behind the clouds today and gave us all a much-needed respite from the rain? Coming off of a tw0 year drought and acknowledging that California desperately needs to refill its near empty reservoirs, the rain has been an incredibly welcome sight (except during Sunday Opens). Still, I lost NO time taking advantage of the clear skies to get out and stretch my legs a bit and walk my Black Lab, Buck, who was even happier than me to bounce along the road - his tail (not mine) wagging along at top speed.

Most of the headlines these days seem to be a lot like the storm clouds of late. None of them have been good and ALL of them have played into the fear of the consumer and the homeowner - even those on solid ground. Consume a steady diet of the mainstream media and like Chicken Little, you're bound to think the sky is falling!

Gather your information from national news or Internet sites alone and you are sure to be misled as to the reality of your specific neighborhood.

To hear national media reports, one might think that every home in America has lost 25-50% of its value and that's just not true. As I have repeatedly said, real estate values are largely dependent on their geographical location. In our East Bay Market, home values are further defined neighborhood-to-neighborhood and block-to-block. Moreover, our market has remained more stable than most!

According to GRUBB Broker and co-owner, John Karnay (who tracks our local sales statistics religiously) "our market is in remarkably good shape." John compared The GRUBB Co's market share - which accounts for sales above $500,000 - from July-Dec. 2007 to July-Dec. 2008 - in El Cerrito, Kensington, Albany, Berkeley, Oakland and Piedmont and here's what he found : the average sales price has dropped 5%, the median sales prices is down 2.2% and the average price per square foot is off by 6.5%. So while we're not exactly in the positive column just yet, it's positive news in light of national reports that would have you believe an entirely different story.

Which isn't to say that I'm not sensitive to the headlines. Of course I am. REALTORS are working on the front lines. Like many of you, I have kids to put through college and retirement to plan for as well, so I hear you and understand your concerns.

Nor could I responsibly and effectively guide you in your most important financial decision, without reading, watching and absorbing everything that affects my profession, our market and your outcome. BUT I try to balance out the mainstream news by forming opinions on what is truly relevant to our community and to our experience. Your particular experience may be entirely unique but in general, here's the skinny . . .

For those of you who bought real estate within the last five years,
chances are you bought in competition and paid for your appreciation up front. Having now lost that appreciation, there may not be a soft landing for you at this time. Stay put if possible.

For homeowners who bought prior to 2004, you are quite likely, in fine form. Even if your home lost some appreciation during the last few years, you bought before prices really took off and while you may have lost some additional gain in the last few years, you haven't really lost intrinsic value.

Finally, more affordable housing stock represents real opportunity. While buying down may be less advantageous, buying UP makes a whole lot of sense (and cents) in this market. While some are selling at a loss, others are expanding their income property portfolios. While some are leaving the area, others are flocking in to take advantage of the public schools and more attractive pricing. There are two sides to every coin.

In the meantime, try not to obsess about the headlines and turn off the news! The sky isn't falling - it's just raining a bit - and we need the rain! (Remember, the sun often follows the clouds.) Can I offer you an umbrella?

What's Coming?

Steve Michaledes brings a great "starter" home or investment property to the market in Montclair at 7030 Broadway Terrace. Featuring mid-century architecture, sparkling views of Mt. Tamalpais and the North Bay, an inviting open floor plan and fished rooms down, perfect for au-pair or in-law suite, this 3bdrm/3bth home is well-priced at $680,000. Open Sunday 2-4:30 www.grubbco.com

Steve Michaledes has also listed a fabulous Contemporary in the Claremont Hills. Named Metropolitan Home of the year in 2009, this award winning design blends bold, modern architecture with sleek, sophisticated finishes and showcases an artful mix of simple, clean lines and warm inviting spaces. http://www.pointclickhome.com/winners Featuring4bdrsm/3.5bths, outdoor living room, kitchen/family room/breakfast nook combo, fireplace and partial Bay views, media room/library with built-in surround sound, master retreat with fireplace, steam shower and beverage center, this home is truly one-of-a kind! Open Thusday 3/5 for Broker's Tour and Sunday 3/8, 2-4:3o. List price: $1,850,000

Carol Brown has listed 168 Wildwood Avenue. Centrally located near playfields, schools and Grand Avenue shops and restaurants, this 3bdrm/2bth Mediterranean offers both convenience and charm. This home features a sunny living room with arched multi-paned windows and vintage craftsman fireplace, formal dining room, renovated eat-in kitchen, lovely bedrooms overlooking enclosed private garden, many updated systems and nearly level access from back garages. Open this Sunday, 2-4:30. List price: $985,000 www.grubbco.com

Please join me at 308 Pala Avenue this Sunday, 2-4:30pm. This elegant Mediterranean which features 4bdrms/3bths, formal living and dining rooms, sunny spacious kitchen, bonus media/family room down, level living and renovated rear garden in Central Piedmont is still available! List price: $1,850,000. www.308Pala.com


Dana Cohen's listing at 10 Bukeye in Upper Rockridge is an adorable 3bdrm/1.5bth Traditional with Bay view, open living and dining room, cozy breakfast room with built-in and luscious gardens and patios. Just one block from Village Market, this home is close to schools, BART, and freeway access. Open Sunday 3/8 from 2-4:30pm. www.10Buckeye.com List price: $715,000.

(I haven't mentioned every special home - just a few of my favorites! For a more complete guide, please feel free to email me at jgardner@grubbco.com or better yet, give me a call 510 326-0840!)

What's Pending?

Speaking of opportunities, several wonderful opportunities exist in Piedmont and throughout the East Bay right now and they are waiting for your well-crafted offer. (Don't be shy Buyers. your opportunities have never been better!)

Just a few short years ago, REALTORS would have encouraged an above asking offer whenever several parties were coming to the table in order to remain competitive. While a few special properties are still enjoying this response, more and more, a below asking offer is perfectly appropriate and often welcome. If a home is just out-of-reach, make an offer. You might be surprised by the warm reception!

What's Happening?

I am passing along a cautionary tale of a wonderful couple I recently worked with who qualified for a purchase loan until they got a bit too eager "shopping" their mortgage options. Each time they spoke with another lender, another credit report was run. By the time they had chosen a lender, one of the couple's credit score had slipped ever so slightly (less than 15 points) but that was enough to significantly limit their financing options.

One of the lenders I work closely with, Melissa Milton of LaSalle Financial, explained that even a few points less on a credit score can mean the difference between eligibility for the best rate versus a second-best rate and sometimes, eligibility for a particular loan program (for example, 80% financing as opposed to only 75% financing). She advises to start the pre-approval process with ONE reputable, recommended mortgage professional, and then continue to speak with other potential lenders WITHOUT having each subsequent lender pull another credit report.

By informing subsequent potential lenders of the scores derived from the one credit report, buyers can still gain the benefit of comparison shopping without incurring unnecessary credit requests.

Make your decision which individual loan officer to work with based on the variety of banks and loan programs available through that person, on experience in the mortgage industry, on pricing, and on customer service!

Melissa Milton can be reached at (510) 339-4300 or at www.lasallefinance.com and is available for consultation at her email address: mmilton@lasallefinance.com

What's Fun!

From wrong to brazen (I'm full of guilty pleasures this week). I snuck out-of-town last weekend and had a great time with several girlfriends in Park City. While the snow wasn't quite up to par ("dust on crust," as one local called it) the weather was warm and beautiful, the town was charming, and the company of women was excellent.

Stealing away for a few days of fun in the sun in sunny Utah and leaving behind my husband, kids, household duties and most importantly, my BOSS, is highly recommended - but wait for the next big snow storm!

Better yet, avoid the expense of air travel and head to Lake Tahoe where the snow has been dumping since President's week.

Either way, you're probably due a few days of R & R!

The Piedmont Plug!

My order of Girl Scout cookies arrived this week and my kids quickly began to devour them (I've resorted to hiding the Thin Mints in the freezer.) Clearly, growing boys can rapidly consume a lot of cookies (as can their mother). No worries, the Girl Scouts will be out in force for those of you who didn't have the chance to preorder.

Please support our local troops as they set up in spots around town with their goodies in tow! Remember a portion of the net proceeds go to local charities and that's a sweet result.

See you next week!

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.