THE SECOND STORY | May 10th, 2012

Another “NEW NORMAL” – Hotter than these May Days!

Post photo: Backyard whirly-bird.

Boomer chick musings: Spinning your wings?

Many of the new listings this week have already gone pending.  That means they have sold in the first week, if not less, than they’ve been on the market. 

Listings, if they are close to priced right, are getting action.  This reminds me of the olden days and folks are starting to do dumb things…like removing their physical inspection contingencies with the acceptance of an offer.    

But we are in the SF Bay Area, and inventory is tight.  Cash beats needing a loan.  20% of that cash beats not so much cash.  I heard of one agent who was countering a short sale, that the buyer needed to put 10K as a non-refundable deposit!  WHAT?  That’s not legal….

Minimum down payments, like FHA, doesn’t mean folks are poor!  It means they have excellent jobs and excellent income in order to qualify!  And if you have a great lender, you may very well remove that loan contingency in 25 – 30 days! But….

Well, let’s see what happens.  It is another new day for a ‘New Normal’.  Patience, please.

Highest and Lowest Priced New Listings

Broker Tour  14 w/ 2 repeats, and 1 that was taken off the market.  

As a sampling, just this week 2512 Chester, 1431 3rd, and 3308 Fernside were listed and received pending sales.

New  19
BOM (back on market) 1
Price changes  2
Pending   22
Sold  12
Withdrawn Temporarily  3
Withdrawn/canceled  2
Expired  2

ALAMEDA REAL ESTATE AWARDS THIS WEEK…remember this is only my perspective!
Grand Dame
Get me to rehab
Cute, Charming

OK!  That’s a wrap!  Carry on!  Make it work (in the New Normal market!).  I’ll be at 214 L Cypress on Sunday 2-4 and my other listing will be held open by my associate at 218 Cypress – both at Woodstock!

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!