THE SECOND STORY | May 28th, 2020

End of May….hot, cold – what’s the Alameda market like?

What comes after heat? The fog.                     This was taken today…about noon.

This will be brief!

If you don’t get the Alameda Sun (our weekly newspaper that’s delivered by the USPS on Thursdays), I’d suggest that you subscribe to it!  It’s all about Alameda and even the ads are ALL Alameda (mostly). I find it has great news, current news, and of course because it’s an election year, you get the ‘for real’ local stuff.

Active Listings 31 incl.  1 AC (active contingent still available because it’s contingent on selling another property) 1 PCH (price change)

Average Days on Market = High 52, Low 0, Avg 0, Median 19

Pending Listings 42 incl. 11 Pending Sales want Backup offers

Average Days on Market = High 92, Low 0, Avg 22, Median 13

Sold 7 

Average Days on Market = High 52, Low 0, Avg 22 Median 22

No open houses are allowed. Showings involve no more than 2 buyers in the property at one time. Buyers need to be pre-approved (not just prequalified) so the Sellers (and their agents) don’t waste their time. Everybody must wear masks, booties, gloves, and you aren’t supposed to open/touch anything. Lookers need to use hand-sanitizer.

After the showing, owners ad/or agents must go in and wipe where hands may have touched the property (including cabinets, shelves, doors, stair rails, etc). Forms must be filled out by the Buyers, BEFORE any showing is conducted.

Because I sell only in Alameda city, I’m adhering to the Alameda County rules, and also the California Association of Realtor rules which comply with the state Health Officials. County rules take precedence over the state.

Lots of fun and challenges out in the real estate world!

Contact me if you have questions!

best, marilyn


THE SECOND STORY | May 26th, 2020

Rethinking Home


The last two months of the new normal stay at home has led many homeowners to rethink the way they live in their home. It has now become an office for working at home; a school for children; a gym to stay in shape; and a place for recreation.

The repurposing has people evaluating whether their home still meets their needs or if some changes are necessary. In some cases, adult children have moved back home, and, in others, there are parents who have moved in for the first time.

Staying at home and sheltering in place is necessary but how much togetherness can one family take and how long is it going to last? Temporary is stretching into longer than expected and even when vaccines and treatments are discovered, will things really go back to the way they were?

A home is a place to call your own; to raise your family, share with your friends and to feel safe and secure. Covid-19 has changed the scope of feeling safe and secure at home and may now be considered a sanctuary of safety more than ever before.

Many of the chief economists in the country feel that real estate will likely lead the country out of this recession. The housing market is experiencing low inventory and has for almost a decade. Building has not kept up with demand and prices of existing homes have continued to go up; 8% over last year.

With 30-year mortgage rates at close to 3.25% and prices expected to continue to rise, an investment in a home can fit your needs and show returns in satisfaction, comfort, enjoyment, and monetary value.

If you are going to be spending more time in your home for all the reasons mentioned, maybe now is the time to consider finding a home that better suits your needs. It can be done in a responsible and safe manner using an online meeting with your real estate professional. Find out what is available and what the process entails to protect you and your family.

THE SECOND STORY | May 22nd, 2020

Just be well and enjoy that ‘well-ness.’

This (picto)sign and this form are now required on every listing, per the California Assoc. of Realtors. They need to be posted at/near the front door.

Active listings 36 (including 2 price changes)

Average Days on Market = High 111, Low 8, Average 112, Median 36

Pending listings 36 (including 8 pending sales want backup offers)

Average Days on Market=  High 82, Low 0, Average 20, Median 15

Sold 6

Average Days on Market = High 92, Low 3, Average 29, Median 12

My listing, a townhome in Harbor Bay Isle (part of Bay Farm Island) had a price reduction 2 days ago from 780K to 739K.  Let your agent make an appointment for all of you (although the agents are required to keep it to 2 people at a time in the property.) Be sure you wear masks, Stick to 6′ for social distancing, have booties to put on as you step into the property and toss the booties in a garbage can (not into the streets).

The rules say “No Open Houses!” Folks will take the virtual tour and check out the matterport tour, as well. I think the showings may be more virtual as we work our way through this.

And for some good reasons….you don’t need to get into 1 or 2 cars. Have you noticed how clear the air is these days? Plus there is little or no traffic on the freeways!

Whether we like these changes/shifts in our behavior or not, I believe they’re here to stay.

Be well! Don’t wait for happiness to come to you, just give it away freely, and that same happiness may come back to you in ways you never thought of.

Call, text, email me if you have ???!

best, marilyn



THE SECOND STORY | May 19th, 2020

Mortgage Forgiveness


During the mortgage meltdown that caused the Great Recession a decade ago, some homeowners lost their homes to foreclosure or constructed a short sale to get out from under the debt. In most of the cases, the lenders forgave all or part of the debt owed them.

Similarly, in the early 90’s after the failure of the Savings & Loans in the U.S., thousands of homeowners lost their homes in the same way but back then, the policy of the IRS was to consider the forgiven debt as income. Today, it is still considered income which means that a homeowner could lose their home because they could not afford to pay for it and to make matters worse, they would owe income tax on the debt relieved.

The good news is that in 2007, Congress passed the Mortgage Forgiveness Act and it has continued to be extended with its current expiration of 12/31/20.

The amount forgiven for income tax purposes may not be the same amount owed to the lender. Mortgage forgiveness has a limited exclusion for discharged home mortgage debt for a principal residence only; it does not include second homes or investment properties. Only the amount of mortgage debt that can be treated as acquisition indebtedness in included.

In the example below, a homeowner purchased a home and refinanced the home five years later at 80% of the market value. The new loan proceeds were used to payoff the original mortgage and make $30,000 of new capital improvements. The revised acquisition debt is the acquisition debt at the time of refinance plus the capital improvements made with the loan proceeds.

The new $400,000 loan produced $39,417 of home equity debt which is not considered acquisition debt. Home equity debt is money borrowed on a home and can be used for any purpose, but it may not be tax deductible or considered acquisition debt. Acquisition debt is money borrowed to buy, build or improve a principal residence subject to a $750,000 limit.

Assume that the borrower never made a payment on the new loan. If the new loan went through foreclosure while the Mortgage Forgiveness Relief Act is in effect, the forgiveness would be limited to the acquisition debt of $360,583 and the remaining amount of $39,417 would be considered income and subject to tax.

This article is meant to inform homeowners of liabilities associated with foreclosures and possible remedies that may be available. This example is meant to illustrate the portion of a loan that could be forgiven. Taxpayers should always consult their tax professional regarding their specific situation and the way the law would apply to their situation. For more information, see IRS Publication 4681.

Purchase Price … 5 years ago $400,000
Mortgage at time of purchase … Acquisition Debt $360,000
Fair Market Value … Today, 5 years later $500,000
Refinanced 80% – Loan to Value $400,000
Replaced unpaid balance – current acquisition debt $330,583
Capital improvements made with loan proceeds $30,000
Revised acquisition debt $360,583
Home equity debt … difference in refinanced amount and acquisition debt $39,417

THE SECOND STORY | May 14th, 2020

Being an agent is not for the meek/weak in heart…..

A window in a Victorian, that I saw years ago.

Two years ago I had some conversations with a client about his condo. I sold it to him about 8 years before. He called me to sell it for him.

We put it on the market and after 2-3 weeks went by I told him that I couldn’t work for him because the price he wanted was not the price it would sell for.

It turns out his friend was trying to buy it directly from him…and I said: ‘go for it!’ He could save money by not paying a commission and all the extras that selling a house (condo, townhome) involves.

Of course, that would mean the Seller wouldn’t have access to the disclosures.  This is a lawsuit looking for a place to happen.  And he would have to hire real estate attorney to be sure it would be a legally binding purchase offer.

Next, the buyer couldn’t get a preapproval letter from his lender…and the Seller came back to me a couple of days later letting me know.

I told him I wouldn’t list it at his price and told him how much I appreciated him and loved him, but I wouldn’t list it, and good luck!

He called me a couple of days later and said he’ll list it at my recommended price.

Next, we had a staging discussion. He had literally turned the condo into a ‘man-cave.’ A gym was set up in the living room and it was painted dark colors. When you looked through the slider doors that opened up to the deck, all you could see was a solid wall from a building next door. No natural light.

We had the painters come in and the stagers as well. Sure, that took some time, but at least we got some traffic through there. And it got sold.

Please people, listen to your Realtor….s(he) can at least start a discussion with you to learn what current buyers are looking for. And upgrades (as in NO MAJOR REMODELING) don’t count either if they were done more than 5 years ago.

Alameda Real Estate this Week

Active listings 34

Average Days on Market  High 1103, Low 7, Average 109, Median 31

Pending listings 7

Average Days on Market  High 36, Low 4, Average 18 Median 13

Sold listings 3

Average Days on Market  High 18, Low 4, Average 13, Median 17

OK! That’s a wrap! Be calm, be happy, help somebody out…if you see that person needs it! And smile through your mask…people know you are smiling because your eyes show it!

Best, marilyn

THE SECOND STORY | May 12th, 2020

Convenience at a Cost


The convenience of selling your home without the hassle of getting it ready, putting it on the market, showings, open houses, negotiations and repairs comes at a cost … a significant part of your equity.

The companies, referred to as iBuyers, that buy homes from sellers are for-profit organizations. They expect to make a profit from sellers who are willing to discount the proceeds they’ll realize as an alternative to the conventional method of selling a home for people who need a quick sale.

The promotions for these companies generally state that you can receive a cash offer in a few minutes after putting your address online. The discount can be between 10 to 18% compared to normal selling costs from 6 to 9%. The cost to a person with a $100,000 equity could be as much as ten thousand dollars.

Even after you have accepted an offer, there can be contingencies in the contract that allow the company to inspect the home to discover the condition and reassess the offer to possibly make even more deductions. If the seller isn’t willing to accept them, the buyer can withdraw from the sale without penalty.

This appears on the surface to be a friendly, accommodating service but it can be an adversarial situation. The seller wants to maximize their proceeds and the buyer wants to buy it as cheap as possible.

Compare this to working directly with a real estate professional acting as your agent. They have to put your interests above their own. They have a fiduciary duty of care, integrity, honesty and loyalty in their dealings with you. Other duties include confidentiality, disclosure, obedience and accounting to the seller.

In this traditional model, your agent will provide you with the facts of what homes have sold for in the area and their opinion and recommendations on what the most likely sales price will be. Your agent will provide you an estimate of the sales expenses based on different sales possibilities.

They can advise you on work to be done prior to putting the home on the market, staging so your home will show at its best and estimate the time it will be on the market. Based on low inventories in some price ranges, it could be surprisingly short.

As an owner, you made an investment in your home in cash and maintenance. You are entitled to maximize your proceeds based on the risk taken to purchase a home instead of renting. The convenience of a quick offer has a cost to it. You need to compare the two alternatives to see which one benefits you the most based on your individual situation.

For more information, download the Sellers Guide.

THE SECOND STORY | May 7th, 2020


Strong winds bring kiteboarders and windsurfers! I rode my bike by these, but a friend sent me this because it was too crowded for me to stop and take a photo!


Big news (for me)! The Shredding Party was remarkable! Based on what the Alameda Meals on Wheels Director said, I turned in $6280 this past Monday!

We all wore masks and obeyed the laws about social distancing!

Robert, who works for Shred-it, has been attending our party for the last 4 years because it’s extra $$$ for him, but he said everybody is so happy!

Thank you so much: neighbors, friends, and those I don’t even know!  And what great news for AMOW.

When I called Peri (the Director) on Monday, she burst into tears!

Alameda Real Estate This Week

Active listings 30 including 3 price changes

Pending sales 5, including 2 price changes

Sold 5

All for now….let me know if you have any questions about A-town real estate….

I hope you are all doing well, and wearing your masks!

best, marliyn


THE SECOND STORY | May 5th, 2020

It Starts Before the Statement is Sent


The deadline for challenging your property tax assessment this year may be later than normal due to the stay at home orders but when you are notified, you’ll want to be ready to decide whether you can save some money on property taxes this year.

There are two elements that determine the amount of property taxes you’ll pay for the year: the assessment of value and the property tax rate. Both determinations occur long before the property tax statement is sent.

Property owners are notified in writing what their assessed value is for the year. It is estimated that most owners don’t challenge that value even though it could lower their tax bill. Not all appeals are successful, but many homeowners believe that it is worth the effort to try. Procedures for challenging the assessment are generally included with the letter and a deadline for filing the challenge.

An initial step is to determine the accuracy of the information on your property’s record such as market value and square footage. If the record shows a higher square footage than actual, it can cause the value to be higher than it should be. Even though it may not be required, an appraisal could be proof of actual square footage that shows the square footage and value by an independent party.

Recent comparable sales are used by assessors to determine market value of a property but are usually not identified in the property record. Property owners can research comparable sales that indicate a lower value and submit them to the assessor’s office either informally or in a challenge hearing.

It is important that the properties proposed to establish the value of the subject property are recent, comparable in size, condition, amenities and in the same area.

There are companies who will represent the owner to lower their assessment. The fee charged is usually a percentage of the taxes that are saved. It is not a complicated procedure and can be very gratifying to make the effort.

Your real estate professional can be a valuable source of information and experience to guide you through the process. Call me at (510) 908-9021 for more information and a list of comparable sales.

THE SECOND STORY | April 30th, 2020

Final announcement for this year’s Shredding Party!

Hopefully, I’ll see you this Saturday…9-1pm. Social distancing will be the call for the day! I’ll be wearing this sweatshirt and a mask!


Alameda Real Estate this Week

New listings 4

Total pending 31

Sold 8


I guess I need to start cleaning my house….but not sure why….nobody’s coming inside to shred their stuff! It’s all outdoors.

But I will prune my roses tomorrow….so I can get the second round of roses going!

If you need my address for the Shredding Party, just email me or just follow the loud sound that will be on Clinton, 2 blocks from Grand St. Look for the shredding truck in the photo above!

Best, marilyn


THE SECOND STORY | April 23rd, 2020

What a gorgeous day! The Sun does shine in Alameda!


I’ve been a paid subscriber of the Alameda Sun for years. Today I  picked up the paper.                Somebody wrote ‘good morning!”

How lovely!

Today’s post will be brief. Yesterday, Realtors belonging to the BayEast Association, received some stats regarding the sale of single-family homes from 4-2019 through 4-2020. It’s pretty interesting. A few of my clients want to know what’s happening in the market NOW, or in the next MONTH. I have no crystal ball. If I did, I’d be very rich. Hit the link below!

March 2019-20 Alameda Detached Single Family Homes

My 14th Annual Shredding Party will be May 2, 9-1pm at my house! Bring whatever can be shredded! NO COST to you!! Bring Friends! All donations will be given to Alameda Meals on Wheels! And I’ll match those donations! Follow the rules…wear masks and use 6′ physical distancing! 

New and Coming Soon 4 (a new category for the MLS!)

Active 25

Pending 10

Sold 7

Get your stuff together. It’s the shredding time of year!

Best, marilyn