THE SECOND STORY | August 12th, 2011

Debt ceiling high, interest rates low, doubts flow.

 Another apology…as happened last week, the links for the property photos are not working this week when I plant them in the blog or when I click on them in the emails I send to myself.  I’ve tried every which way.  Email was just sent to the MLS about it.


Blog photo:  From the estuary looking at the largest building at Alameda Marina as the sun backlights the windows near the roofline.

Blog post:  Okay, don’t even let me get going on the ‘unanticipated consequences’ of the morons running OUR government: credit rating lowered, stock market spiraling down, down, down, and a bit up.  I don’t know one person who isn’t completely disgusted with all elected officials.  They need to go back to their momma’s, and memories, and learn manners.  And they need to dig deep to try and recall how they played in the school yard at recess before they became so enamored with themselves as adults.  AARRGGHH!  If this is the new normal, I want abnormal.  Enough on that.

Let’s talk about appraisals.  You’d only want to if you were trying to get a refi or a new loan on a purchase.  I’ve had two listings that haven’t appraised in the last few weeks.  One was 5K off, and the other 11K.  If you are attempting to take advantage of these low interest rates, you will be jumping through more hoops than ever, need to have serious equity (still) in the property, and then pray for an appraiser who knows the neighborhood.

Clients, if you are doing a refi, and need some supporting data, please give me a call.  I need to know what the appraiser used for your comps so I can hopefully rip the report to shreds.  And of course there is the Plan B….change lenders, as a long time client did for her cash-out refi.  Alameda’s US Bank made it a breeze for her BUT she had her ducks lined up, is super organized, and had LOADS of equity.

ALAMEDA REAL ESTATE THIS WEEK…
Closed 108 B Cypress (stock co-op unit) YAY! after too many months, last Tuesday.  Here’s the lesson….after so long on the market and no offers, one came in last December for 280K.  And the Seller turned it down.  It closed this week for 255K.

Had another new stock co-op listing for the  Broker Tour the same day Cypress closed.  1708 3rd is bigger and priced at the same closing price as Cypress – 255K.  It was previously listed with another company and the seller said ‘agents are showing me the comps and your name is all over them – get it sold!)   Check out 1708-3rd.com   I’m waiting on Woodstock management to send me the pest and property inspections (all work done prior to going on market, as required).

Unsold inventory this week  179, last report 170
Pending inventory this week 100, last report 119

Broker tour…9 with 1 repeat (I think).  I hosted an open house so didn’t get to see many of the other properties (or go on the bike ride to do so!).

Highest and lowest priced NEW listings

NEW 12
REPOSITIONED PROPERTIES (price changes) 6
PENDING  4
SOLD 10
EXPIRED 1
WITHDRAWN/CANCELED 3

ALAMEDA REAL ESTATE AWARDS THIS WEEK...(remember this is only my perspective).
Since I only saw 4 of the properties it doesn’t seem fair that I give an award to my new listing.  But I’m going to because I do think it’s worthy of Bang for the Buck.

That’s a wrap!  Carry on!  Enjoy your weekend!

best, marilyn

Published by

Marilyn

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! www.MarilynSchumacher.com to see how it has all turned out! I'm so blessed!