THE SECOND STORY | February 13th, 2014

Hawaii or Alameda?

The flower on the left was at a listing a couple of weeks ago on San Antonio.  Gorgeous!

Boomer-chick-musings.com
My take on what might be happening out there.

COMMENTARY
My San Francisco friend/agent, Chris Stafford,  with the Paragon Real Estate Group sent his monthly newsletter over to me.

This may be interesting to you.  If you’d like to see the full newsletter, let me know, and let me know if you’d like for me to introduce him to you!

What does this have to do with Alameda?  Quite a bit.  Buyers are moving to less expensive areas around the bay, and we are seeing some of the SFer’s here, if you have not noticed. First they look in Berkeley, then in Oakland, and then they find our bridges and tubes, and realize this may be the place to park it for a good long while.

Tentative Signs of a Shifting Real Estate Market
February 2014 San Francisco Market Report
It is far too early in the year to reach definitive conclusions regarding substantive changes in the market, but there are indications of a number of shifts. From the hurly burly on the street, the word is that the quantity of offers coming in on new listings is declining. Where a new listing might have attracted 10 or 12 offers last spring, 3 or 4 are coming in now; where 3 or 4 offers would have arrived, the seller is getting 1. And, according to Broker Metrics, for every 2 listings that acceptedoffers in December and January, another listing expired or was withdrawn without selling.

The amount of competition deeply affects home price increases.

There are still a very large number of buyers looking at listings online and at open houses. But more of them appear to befirst-time buyers and they are proceeding more cautiously. Some buyers are burned out on the multiple-offer bidding frenzies of last year and are reluctant to participate in them. Though the market remains hot by any reasonable standard, by some statistical measures it is cooling. This may reflect a transition or only a lull before the spring sales season begins.

Recently, the investment-property analysis firm Reis speculated that SF apartment-rent growth — which has been extraordinary by any measure, especially in a period of low inflation — will slow despite intense demand and very low vacancy rates, simply because people can’t pay any more. It’s an idea which may or may not be correct or apply to other types of housing costs. Rent rates do play a role in purchase prices as buyers often compare the net housing costs of the two options. 

So don’t be surprised if the buyers actually stay here – because we don’t have the ability to draw our bridges or flood our tubes, even though some might like those talents.
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SHREDDING PARTY!  Clients, Friends, and Neighbors (well anybody that comes is a friend!!  The 7th annual Shredding Party will be March 8!  Get ready to shred your stuff for free! Notices will be going on via email and snail mail.  If you are interested and not on my list…let me know and we’ll get you on the list!  Most places that offer this charge at least 8 buck per box and you need to get to a place that does it!  You can watch your stuff get ground up into bits on the spot! 
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ALAMEDA REAL ESTATE THIS WEEK…
Broker Tour Tues!  I saw all but the unit at the Willows (2101 Shoreline). 10 were on this week.

Active listings this week – 46
Pending listings this week – 51

New  16
PCH price change  2 (a  big one for my listing @ 463 Cola Ballena!)
Pending 15
Sold 10
Withdrawn temp  2
ALAMEDA REAL ESTATE AWARDS THIS WEEK…remember this is only my perspective!
Winner didn’t sell in 10-2011 for 850K then went down to 809K and now it is 879K, same wonderful amenities.
Get me to rehab  this has been sitting around for a while but potential is there!
Get me a makeover  some major remodeling to do here…but not like the one above!

Always happy to give referrals to vendors you may need! Think of me! Just gave one to a friend today.  I may have someone you might want.

We’re done!  Carry on!  Get your stuff ready for the shredding party!
Best, marilyn