Which Bobbie Giarratana Helped You Through Your Real Estate Transaction?

Next month is my ninth anniversary in real estate and I'm celebrating it by working a lot. Well, I might have milk and cookies at some point, but it's going to be hard to find the time. Since I shared a potentially embarrassing photo of Nicole Kidman in my last post, I will share some of my past real estate promotional photos, to atone for my naughtiness. Time passes, hair styles change and I wonder always, "What was I thinking?"
It seems I couldn't be bothered to get a haircut before this photo was taken:

I won't live long enough to stop regretting this style:

We Do Find This Important... Really.

This Nicole Kidman real estate news has just been reported and I'm sharing it with you because I feel compelled to show off this great picture of her I've found.

Coldwell Banker Weekly Market Watch

From our Coldwell Banker pres...

Baseball season started and we’re starting to see buyers sliding into home. Yes, from all indications, the Bay Area real estate market is starting to bloom just in time for spring. We were even able to squeeze a few positive headlines out of the media this week after NAR announced an unexpected increase in February sales figures, and CAR announced that sales have been increasing each month in our state for the past four months. Compared to this time last year, the reports still indicate very slow sales. But a dip in the median price, a copious selection of homes on the market in many areas and near-historically low mortgage rates are enticing buyers off of their fences. According to CAR, a number of cities in our area are starting to see increases in median prices again, which may be an indication that those markets are already bouncing back.

There is more good news for buyers and sellers - word from our lending partners is that loan products and guidelines for the increased conforming loan limits from Fannie Mae, Freddie Mac and the FHA should be available very soon if not already. As more and more buyers continue to realize that now may be the best opportunity they’ve had in years to make that home purchase, this is starting to look like a fairly normal spring in Bay Area real estate.

Open houses continue to bring in high numbers of attendees in the majority of areas, even on a holiday weekend, and multiple offer situations continue to increase on desirable, well-priced homes. The two biggest questions most buyers ask now at open homes is, how long has the home been on the market and how many price reductions have there been. This is a clear indication that a lot of buyers are out bargain hunting and looking for that so called “bottom”. A “not very attractive” home in the Berkeley flats was listed at $549,000, had 50 disclosure packets out and sold with 15 offers on the table. A San Ramon open home had more than 50 groups attend. An entry level home in the San Leandro Manor area had nine offers. A TIC in San Francisco reaped multiple offers and sold for $50,000 over asking. Woodside/Portola Valley had three sales in multiple offer situations last week – one of them listed for more than $11 million. Menlo Park reports 75% of sales in multiple offer situations.

Sales are increasing because the bargains are out there. And who can't resist a bargain? The markets need to be tracked by zip codes and neighborhoods at this point. You can no longer just look at an entire county to get the real picture. No matter what headlines hit the papers, it is still and will always be about the price and condition of the property.

Spring is Here

I know the headlines are all doom and gloom about the real estate market dying, but remember; markets are local. Depending on where you are buying or selling, your experience may or may not match the media stories. Certain neighborhoods or even certain streets in certain neighborhoods, may be doing better than you thought after hearing the five o'clock news.

A couple weeks ago I represented a buyer making an offer for a property in a pleasant neighborhood near Piedmont Ave. in Oakland. Nice house, not huge; not cheap either. There were nine offers.

Last week I represented buyers for a property in El Cerrito. West Contra Costa County has been in the headlines recently, with those doom and gloom stories representing the sad case of some Richmond neighborhoods' declining values. Well, for that house in El Cerrito, you'd never know there was a down market nearby. This property received five offers. Reading county statistics would not have given a clear picture of the buyer response to that house.

The lesson here? It's crucial to your success in the market that you be as informed as possible from as many sources as possible. Read and listen to the news for the big picture, but listen to your agent too.