THE SECOND STORY | February 19th, 2010

Morning rush….evening calm.

Post/Title – The Shredding Party was a rousing success – again! It is wonderful to see people drive or walk away a bit less burdened when they know they can strike one more nagging chore off their list. Our truck operator said we had over 70 cars in 3 hours. And I can attest that some were PACKED full of boxes. Plus we had numerous walk-ins. One neighbor made five trips of at least five beautifully stacked and organized boxes each trip, with her hand truck. The weather was the best we’ve had yet – no sign of rain, just some initial ground fog.

Then as I tidied up later that afternoon, I just knew I had to get on my bike and take a breather. I also had a sense I should take my camera. This is the sunset I watched unfold before my eyes. And I shot lots of other blasts of color in about a 30 minute period.

Alameda real estate this week….

Active listings 108 (I think I weeded out the duplicates)
Pending listings 87 (I think I weeded out the duplicates)

Tuesday Tour (another nice bike ride)

New 6

BOM (back on market) 0

Price changes 1

Pending 10

Sold 7

Expired 1

Withdrawn/cancelled 4

On Friday my client got an accepted offer on a very new listing...521 Taylor. We’ll see how it goes when we have the inspections soon.

Alameda real estate by graphs the past two years…

I decided to see if I could do some simple counting tonight. I wanted to get a flavor of how many bank-owned properties (REO – real estate owned) were active and pending, and how many properties were active and pending short sales. One of the things I discovered is that not all listings that are pending – subject to lender approval, are being marked that way – some just say pending. So I tried to take that into consideration. Here’s what I counted:

108 active listings of which 14 are short sales, and 14 are REOs.
87 pending sales of which 38 are potential short sales, and 14 are REOs. (that’s a pretty high percentage of the total pending sales).

What we need to remember is, of those pending sales subject to lender approval, some will never close. The lender(s) keep changing their terms on the buyers; the buyers get bored and/or pissed off at the lender(s); the owners decide to pull the property off the market and wait for the bank to take it and live no-cost, sometimes for a really long time; the owners pull the property off the market and instead of selling, declare bankruptcy.

And more than just a few of the REO sales end up being all cash because no lender will loan on them. I had two all cash transactions on lower priced fixers I had listed last year, and besides needing boat-loads of work, they were not distressed sales.

With that in mind, here are some stats going back 2 years. This is actually very interesting stuff and when you factor in the number of distressed sales you can see the additional pull on already lower pricing. Check out Harbor Bay Realty’s Facts and Trends report. Be sure to scroll down for all the reports and if you don’t care for graphs and charts, you make take a fancy to the tables. The data is for 94501 and 94502, single family homes. If you’d like info regarding townhomes or condos, let me know. Multi units….not so much in this format.

Alameda real estate awards this week…..
remember this is only my perspective!

Bang for the Buck

Get me a Facelift

What am I? (a new award) and I had this listed and sold back in 1997. It’s a duplex next to the 6th hole on Alameda’s south golf course. Huge lot with a confused floor plan for these two units, joined by a ‘family room.’ It was an ugly transaction back then because the deceased older man left a life estate to his older girlfriend (which means she could live there until she died yet must maintain it). Well, she didn’t maintain it, and the two heirs-in-waiting, daughters of the owner, hated each other and just didn’t see eye to eye. Anyway it was on the market for 280K and sold for 290K.

So that’s a wrap! Carry on! Enjoy the Olympics! Hi E&E and their friends who are in Whistler for some of the games!

best, marilyn

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I arrived in Alameda in 1973, as a new bride...with husband Carl Schumacher, both of us from Newport Beach. He was embarking on his career as a Naval Architect (i.e. yacht designer) under Gary Mull. Please see the 'ABOUT ME' page in this website! to see how it has all turned out! I'm so blessed!