COMMENTARY (I posted this on Bay Area Real Estate Trends on Sun Feb 24th).
Yep, I’m watching Hollywood go berserk over their productions. I can take it or leave it. But it did get me thinking….what grabs the attention of the academy of property buyers? I think this list makes winners.
The right location. As the directors know, location is everything. It is either a hit or a miss. In the Bay Area today, buyers want something that has decent public schools, perhaps proximity to private schools. Whether you use them or not, decent schools will be money to the sellers when it’s time. You can’t fix a bad location…unless you are willing to buy and hope for the best (in terms of tenants and/or owners).
And buyers want walk-ability and bike-ability. Something without cars, for some of the time.
The right costumes. This is an inside job. It needs to be immaculate and should be staged. If it can’t be staged, some, if not all, of the stuff has to be moved out. Stagers know what sells the house. Less is more. Less is more $$. The Sellers have to be ruthless about removing any clue of who lived there! Nice photos belong to them…not in the property.
This happens when everybody is on the same page emotionally. It becomes time to move on. It’s kind of like when I sold my 26 foot, wooden 1966 twin engine Chris Craft for $1 this past year. I was over it. I put a ton of money into over the years when I was attached to it. But that was over. No more surveys, no more insurance, no more dock fees, no more guilt about not using it, no more fuel to buy, no more maintenance. Over. It sold in one day, and was over in three days once the buyers got insurance.
Buzz. The public has to talk about it. Whether they are buyers or not, chatter about a great house will be found far beyond its walls: in coffee shops, on the play grounds, in grocery stores, in gyms, wherever people gather. Chatter about a dump will also be around town. But remember we are talking about winners!
I’ve given real estate awards in my blog, published for over 5 years, every week. Some of the titles I link to individual properties include: Winner of the Week, Get me a Facelift, Got me a Makeover, Get me to Rehab, Out of Rehab.
As a real estate Broker Associate, I get my version of an Oscar when I’ve done my job for the Seller. Sure, I get a paycheck, but the awards go to my clients. I help them get to where they need to be, when they need to be there. They are the ones who get the Oscars when they consider all the above criteria and we work as Directors and Producers together.
We’ve got a hit!
(If you want to talk about selling or buying… give me a call or email me!)
Last weekend….The Shredding Party was a hit also! The Shredders raised $522 for Alameda Meals on Wheels, AND the lady who brought 35 boxes took the Oscar for the most shredded! Next year maybe someone can beat that!
Boomer Chick Musings – my take on whatever is happening out there.
Boomerang buyers….they walked and now they are buying CNBC
ALAMEDA REAL ESTATE THIS WEEK…
There was loads happening…I emailed a client this week and said that maybe the townhomes were leading the market up the food chain!
Broker Tour Tuesday a great bike ride…note the one on Camden did have a price reduction…I’m sure my comment to the agent about how did the comps support the price may have surprised her. For the record….price is not set by how many offers another listing gets and then jump it up some. This house is located near apartments and is nothing special. Keep your eye on it – sometimes a seller needs to hear the truth…doesn’t need to believe it, but needs to hear it with someone with some local background. Enough said.
Active and Pending Sales this week….42, 67 (all types of properties)
ALAMEDA REAL ESTATE AWARDS THIS WEEK...remember this is only my perspective!
Winner of the Week This is just one house but I included the last time it was sold. In 2008 it was sold for 667K on a 689K list price. This time it’s priced for 649K and the super kitchen was already installed in ’08.
Get me a Facelift These 3 units might be changed back into two (a 2/2 house w/ an attached 1 bedroom unit). It will take some work…but it could be somebody’s nifty dream! And I expect there would be a payoff doing the work and then living in it!
This is it for now! Call if you have questions about the market. Carry on! Make it work!