In my humble opinion, I think that the pricing (list/sale) issue is generational.
For those who have just come into the market, have kids in school (or no kids at all but may be planning on having a family), Alameda seems very tame and homey. Most newbies aren’t involved in local politics (they’ll find out about that later). Alameda is flat, easy to get around, close to parks and beaches, close to shopping. That why lots of us like it!
However, these folks are bringing a lot of $$$ into this market, whether the prices are shifting or not. As far as detached homes go, what we paid 350K for 20-30 years ago, is now 1M+. The old 400K is now the new 900K+.
Obviously, this is not a rule, but a shift in how we live.
The newer generations don’t know how to wait in line. They demand instant help via any of the devices we carry around with us including how to buy real estate or carve a turkey.
They share meals at restaurants with long tables full of strangers, with whom they become ‘friends’. They have their groceries delivered to their houses, as well as their meals. They use ride-share vehicles and some don’t even own a car.
The A model townhome (that I have listed and you saw) may not seem the best for baby-boomers BUT it’s a single level, attached on only one side. But the A model floor plan could be a solution to Gen X&Y and the Millennials.
Several Baby-Boomers have looked at the A model I have listed, but the number of younger generation lookers have out-numbered them. There are parks just outside the door, garages are used for storage (not multiple cars), bus transport is accessible. The last A model I sold, about a year ago, was purchased by the younger generation, and I think we had 7 offers on it.
Any potential buyer, anywhere, is buying a location, that just happens to have a house/home/condo/townhome/ sitting on it.
As you well know, many of the original townhomes on Bay Farm Island were built in the 60’s & early 70’s. Those are mostly row-homes, straight in a line, with garages in the rear, on an alley. The Community of Harbor Bay Isle has several individual smaller townhome communities that have a meandering physical layout, with lots of trees and lagoons, built in the 80’s with garages in the rear, not straight out in front.
Yes, we do have inventory…and it’s increasing. And some of the prices are coming down, either by price reductions (read motivation), or if it’s been on the market 30-60 days with no offers.
Welcome to my world!
Alameda Real Estate this Week
The Super Bowl survived without me (it’s just too dangerous to spend my time watching it), and Valentine’s Day is almost here, then Presidents Day…and I hear there’s some chatter to make our National Election Day a holiday. Carry on!
PS I did have a former client call me this week, wanting to know if I knew any agent in Huntington Beach. He was calling on behalf of a friend in Connecticut who has a home to sell in S. CA. I did find a great person (through my Certified Residential Specialist organization) who has interviewed for that job. If you, or a friend, have a need for an agent somewhere in the US, let me know and I might be able to make a connection. It sure beats finding anybody without any credentials! Keep me in mind for those referrals!