New Listing: One of the First Settlers in Rockridge

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After the 1907 earthquake, Rockridge was one of the first neighborhoods settled in Oakland, with its proximity to San Francisco being one of the drawing cards…just as it is today.  It was just a couple of years after the  earthquake that this charming Victorian was built at 5261 Miles Avenue.

It has all the details of the period: box ceiling, built ins, wainscoting and large moldings plus a basement.  It has all the accoutrements people were used to in the city.  Additionally, it has 2 bedrooms, 1 1/2 baths, an updated kitchen that opens to a family room and a wonderful deck and backyard.  Today, it’s even closer to the city: just three blocks to BART and all the restaurants and stores of Rockridge and Temescal.

For a closer look, check out www.5261miles.com.

Give us a call at 510-847-2409 for more information on this or on great neighborhoods to buy a home in the East Bay.

Barbara Reynolds, your East Bay real estate specialist

Originally posted on my East Bay real estate blog here: http://31642ee.activerain.com/post/4342228/new-listing-one-of-the-first-settlers-in-rockridge.

Two New Berkeley/Crocker Highland Listings – Off MLS

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If you’re tired of being beat out in multiple offers in Berkeley and Oakland, this could be your opportunity to lock down a great home … with a “below multiple offer” price.

The situation is this: both homes are presently leased, with tenants moving out in the next couple of months.  Both Sellers would rather sell now than wait.  They are both able to be shown by appointment.  Give us a call or have your agent call if you’d like to view them.

Stunning Mediterranean in the Claremont Hills – $1,250,000

This stunning Mediterraneanhome overlooking Oakland and the East Bay is filled with majestic spaces, ultra high ceilings and incredible details.  You can’t help but wonder, is this the East Bay or Southern France?

Within in its grand 3800 square feet are five bedrooms, including a majestic Master Suite with a balcony overlooking the world, and four baths.  A high end chef’s kitchen opens to a family room and dining room, also with balconies.  And, in a complete antithesis to the hills, the top floor takes you to a terraced, landscaped garden and patio with plenty of room for play and parties.

Storybook Tudor in Crocker Highlands – $799,000

Nestled on a tree-lined street in Crocker Highlands, you’ll find this charming storybook home.  This Tudor home has three bedrooms plus a family room along with great details befitting the era.  With one and a half stories, it feels surprisingly spacious, yet comfortably “homey.”

And besides being in one of Oakland’s most sought after neighborhoods, it’s just a short walk to everything: five blocks to Crocker Elementary and six blocks to PEET’s, Starbucks and a multitude of restaurants.

If you’d like more information, give us a call at (510) 847-2409 for more information or to find out more agbout great neighborhoods to buy a home in the East Bay.

Barbara Reynolds, your East Bay real estate specialist

Originally posted on my East Bay real estate blog here: http://31642ee.activerain.com/post/4335691/two-new-berkeley-crocker-highland-listings-off-mls.

Lunar New Year in the East Bay

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The Lunar New Year (more commonly referred as Chinese New Year) is one of the most globally known annual events and, here in the East Bay, it’s no different.  For the more traditional Asian families, Lunar New Year lasts 15 days, with each day containing certain activities (with some varying differences between cultures).  Some highlights include a traditional dinner on New Year’s Eve, fire crackers and lion dance and, my favorite, handing out red envelopes filled with money.  To most outsiders, it’s just the Asian version of New Year’s.  But it’s really so much more than that.  The Lunar New Year symbolizes luck, prosperity and, most importantly, a new beginning.

Within the Asian culture, before the start of every new year, we take the time to clean our entire home from top to bottom.  It is believed that, when we clean our home thoroughly, we release all of the evil and negative spirits that burden us.  By doing so, we start the new year off with a clean state of good energy.  It is also believed that how you spend the first day of New Years will strongly dictate how the rest of the year goes for you.

Speaking of new starts, now would be a wonderful time to invest in a home in the East Bay.  Whether you’re looking to live here or to get into rental properties, home prices in Oakland have been steadily and consistently improving for the past three years and only look to continue the trend.  According to Trulia, single-family homes for sale in Oakland list at about $513,000 and have had an 86.4% sale price increase since 2009.  Within the past year alone, the median sale price in Oakland has increased 22.4% (or approximately $75,000), according to Trulia.

If you’d like to make your own luck this year, give us a call at 510-847-2409 for more information on great neighborhoods to buy a home in the East Bay and see what new beginnings lie ahead of you.

Barbara Reynolds, your East Bay real estate specialist

Originally posted on my East Bay real estate blog here: http://31642ee.activerain.com/post/4321805/lunar-new-year-in-the-east-bay.

The Disaster Called Flood Insurance

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That charming little creek running through the backyard in the East Bay could now end up costing owners $3,000 or more a year in flood insurance.

Here in Berkeley, Oakland and the East Bay, one of the disasters we rarely have is floods.  Yet, thanks to Hurricane Sandy and FEMA, flood insurance rates through FEMA will be skyrocketing. Besides that, FEMA has also evidently redrawn the flood maps.  So, what might never have been considered a real flood zone, now is.  It seems that, even in California, we will be paying for Hurricane Sandy for years.  As a result, when you prepare to sell a house in the East Bay, the new Buyer may be subject to the new FEMA rates…even if there’s a just a little creek in the backyard.

That was our experience recently when we helped Buyers purchase a property in Oakland.  If you are in a certain flood zone, lenders will require flood insurance.  In our case, the lenders required flood insurance.  The caveat is that now all FEMA policies require what’s called an elevation certificate (which officially shows how high the house is above the flood plain).  This costs about $1,200 to $1,500 by the time you find a surveyor who will do one.  And it takes a couple of weeks.  Once you have that, you apply to FEMA for insurance.  No one seems to know exactly what these rates will be, but estimates range from $3,000 to $5,000 per year…even if you just have a creek that hasn’t flooded.  The only way we found around this was a Lloyd’s of London policy, which some lenders won’t accept.

So a word to the wise.  If you’re buying or selling a home near a creek, make sure you get started early investigating flood insurance.  Unless, that is, Congress opts to reduce rates, which they are considering.  Otherwise, it’s a disaster.

To develop a strategy for selling your current home or buying a new one in 2014, contact your Oakland real estate specialist Barbara Reynolds at (510) 847-2409.

Barbara Reynolds, your East Bay real estate specialist

Originally posted on my East Bay real estate blog here: http://31642ee.activerain.com/post/4312834/the-disaster-called-flood-insurance.

Urban Christmas – Christmas Tree Lane in Alameda

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Many years ago, upon my first Christmas in the Bay Area, I was supremely disappointed when I saw how little effort went into decorations.  On Christmas Eve, we took a walk around the neighborhood.  I was saddened by the sight of dimly lit lights that were strung up in a sloppy fashion.  No one bothered with lawn ornaments or even creativity at the very least.  Now, as an adult, I understand why some people would choose not to set up decorations and such, but when you’re a child, the rules of life and logic simply do not apply.  Seeing how disappointed I was, my uncle decided to take me where he knew it was going to put a smile on my face.  That’s when I first saw Thompson Avenue in Alameda or, as it’s more commonly known, “Christmas Tree Lane.”

Just like a kid on Christmas, my eyes lit up with joy when we arrived.  It wasn’t just one or two houses.  No.  It was an entire block of homes decorated to the max!  Every home seemed to shimmer in the night, with the next home being brighter than the last…as if it were a friendly competition between neighbors.  Needless to say, it became a tradition for me to visit every year thereafter.

As in the years past, I’ve noticed how much more involved and influential this simple little event became.  Located on the 3200 block of Thompson Avenue, people from parts all over the Bay Area are willing to drive to Alameda just to see these lights.

Thinking about becoming part of this tradition?  If so, now is the time to act.  Home prices in Alameda are on the rise once again.  According to Trulia, Alameda market trends have been surging since the turn of the new millennium.  Granted, we all know the housing market took a hit these past couple of years.  But the homes in Alameda amazingly retained great value.  From 2009 to 2012, the average median home price in Alameda only dipped from $600,000 to $450,000.  In 2013, Alameda home prices took a sharp increase and rose from $500,000 to approximately $700,000, where it stood just five years ago.  Don’t miss out on a chance to invest a new tradition with your family, whether it’s just visiting or living on Christmas Tree Lane.

For information about Alameda properties, contact Barbara Reynolds at 510-847-2409.

Barbara Reynolds, your East Bay real estate specialist

Originally posted on my East Bay real estate blog here: http://31642ee.activerain.com/post/4284670/urban-christmas-christmas-tree-lane-in-alameda.

What a Great Time to Buy a Berkeley/Oakland Home

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It’s Christmas Time Again. What a Great Time to Buy a Berkeley/Oakland Home!

Every year as the holiday season draws near, families begin planning their get-togethers.  Students come home from college to visit their parents, distant relatives, maybe even pets, to see each other and to catch up on old times.  With the current market in Berkeley and Oakland, it seems almost impossible to find a home that fits your needs, let alone with room to spare.  With Christmas looming just around the corner, have you thought about giving yourself a home for the holidays?

It’s no secret that the real estate market often slows down during the holiday season.  What most people don’t know is that the end of the year is the perfect time to look for a Berkeley/Oakland home.  Sure, you may not have as big a list of homes to choose from, but you will definitely have an advantage against other buyers.

People often ask when is a good time to buy a home.  Normally, real estate season starts during spring and the market typically peaks in the summertime…and for good reason.  The weather is warm, flowers and trees are blooming, everyone wants to be out and about looking for homes.  What most people don’t realize is that this is possibly the worst time to buy a home.  There may be lots of Berkeley/Oakland homes on the market, but you may find yourself outbid for every offer you submit.

During the holidays, sellers are generally more happy, which plays into generosity and they become a little more flexible on the sale price of their home.  In addition, since everyone else is busy with their family events, the likelihood of your offer being outbid is relatively low compared to the peak of the season.  So you may possibly get your dream home for less than in the spring and with less of the worry of being outbid.

 

In addition, according to DataQuick News, prices of Berkeley/Oakland homes are generally lower during December than any other month of the year.  If you take a look at the statistical chart provided by DataQuick News above, you’ll see that home prices steadily increase between April and October in both 2012 and 2013.  But, as you can also see, prices steadily decrease between November and March of the following year and, coincidentally, during these same months are when the amount of sales are at their lowest.  Therefore, we can assume that buyers aren’t as proactive during these months.  Keep in mind that the prices shown are based on national coverage and that particular areas, such as the Bay Area, are often subject to much higher sale prices.  However, it does provide a good example of when you should begin your search as a home buyer.

It’s wise to know that if a seller has their home listed over the holidays, it’s a telltale sign that they’re motivated to sell.  Now the only tricky part of all this is finding a Bay Area agent that is willing to work with you during the holidays.  Fortunately for you, we’re ready and able to help over the holidays.

To get started, just give us a call: 510-847-2409.

Barbara Reynolds, your East Bay real estate specialist

Originally posted on my Bay Area real estate blog here: http://31642ee.activerain.com/post/4273788/what-a-great-time-to-buy-a-berkeley-oakland-home.

Home Sales to Continue Upward Momentum Next Year

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Here are some interesting real estate forecasts from Lawrence Yu, Chief Economist for the National Association of REALTORS® at last week’s NAR convention in San Francisco.

1. On the national level, the number of home sales is forecast to increase by 10% this next year, with prices increasing by 6%.  This will be supported by lower unemployment and, hopefully, less stringent lending standards.
2. Low inventory (few houses for sale) will continue until housing starts to increase (by 50%) to meet demand.
3. Mortgage rates are expected to reach 5.4% by the end of next year as consumer prices rise 2.7%.

In the East Bay, even with the 20 to 30% increase in home prices of the past two years, these forecasts also reflect what’s happening here.  There are still a great number of Buyers looking for a house in the East Bay.

A projected 6% increase in home prices is actually a more “normal” level of appreciation  for the East Bay, or one that was sustained in the 90’s until everything started to go off the scale in 2005.

To develop a strategy for selling your home or buying a new home in 2013, do give me a call: 510 847-2409.

Barbara Reynolds, your East Bay real estate specialist

Originally posted on my Berkeley-Oakland real estate blog here: http://activerain.com/blogsview/4254773/home-sales-to-continue-upward-momentum-next-year.

East Bay Market Returns to “Sanity”

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Back in April-May, our East Bay Real Estate market was verging on insanity.  There were relatively few homes for sale and hundreds of thousands of Buyers who had been waiting 4 to 5 years for when it was safe to buy a home.  The result was that almost every house that was on the market in Berkeley–Oakland and environs was overbid up to 50% or even more.

But insanity doesn’t last forever.  Since July, the East Bay market has started to return to some version of sane.  More homes have come on the market and many Buyers have gotten homes.  So, while some homes are still getting multiple offers, there usually aren’t as many of them.  And, in some areas, homes are having to wait past the 14 days for offers.  While this may not be as fun, all in all, it’s a more “normal” market for us, which will make it more possible for more people to buy a home in the East Bay in the long run – and not be scared off.

The good news is that the direction of home prices is still up – just a more gradual up.  Since July, for instance, the average home price is Berkeley was $854, 013.  That’s about 11% above asking price and, get this… 32% above the same time last year.  Oakland shows a similar trend.  Since July, the average home price in Oakland was $543,920…or 8% above asking and 31% above same time last year.  Alameda’s average home price was $660,275…or 6% above asking price and 25% above same time last year.

So for help in winning in this market … whether you are buying or selling … just give me a call: (510) 847-2409.

Barbara Reynolds, your East Bay real estate specialist

Originally posted on my Berkeley-Oakland real estate blog here: http://31642ee.activerain.com/post/4201575/east-bay-market-returns-to-sanity-.

What’s Happening in Oakland’s Grand Lake Neighborhood?

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(Or, Around the World in Three Blocks)

When you’re tired of Rockridge, or had enough of Berkeley, check out one of the original Oakland neighborhoods that has it all and is now undergoing a revival.  Around Oakland’s famous Grand Lake Theater, you’ll find an epicurean tour of the world.  Over 30 restaurants of every international taste and persuasion operate within a three to four block radius… some with Chez Panisse roots.  This is also home to the East Bay’s and perhaps the Bay Area’s most happening Farmer’s market every Saturday – with food, music and entertainment for all.

On top of that, there’s an original piano bar called The Alley, where people still sing their hearts out.  A neighborhood book store called Walden Books still sells books.  And, of course, one of the original Art Deco theaters of the West Coast is here, the Grand Lake Theater.

What’s amazing is that you have a dose of the best of national chains … Peets, Starbucks, Gap and Trader Joes … side by side with Oakland originals, revivals and rising star chefs.  Try Camino on Grand, for example.  Chez Panisse without Alice Waters.  Farm to table food by a Chez Panisse alum.  The Grand Tavern is an English pub with a 1930’s living room environment.  Boot and Shoe Service is, again, a salute to Chez Panisse and the same thin crust pizza of Pizzaiolo.  Sidebar offers a 5-star burger and locovore cocktails.  Or you can try any of about 20-30 others, including the requisite Greek, Japanese, Thai, Chinese and Mexican.

It’s original Oakland and new Oakland all rolled into one walking neighborhood and all centered around the Grand Dame of them all, the Grand Lake Theater.

Located three blocks to Grand Lake Theater is this stunning Grand Lake Traditional home overlooking the action, with all the period details fully in tact.  Three bedrooms and au pair, close to everything.  $829,000.  www.725Rand.com

Barbara Reynolds, your East Bay real estate specialist

Originally posted on my Berkeley-Oakland Real Estate blog here: http://31642ee.activerain.com/post/4175931/what-s-happening-in-oakland-s-grand-lake-.neighborhood-.

A Diamond in Berkeley-Claremont

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Anyone passing down Berkeley’s Tunnel Road has probably noticed the unique wall in front of the home at 135 Tunnel Road in Berkeley.  Featured in Sunset Magazine, this wall was built by the owner Adele Proom as a way to separate the house from Tunnel Road.  What makes it unusual is not the traditional ivy covering by an ivy espalier in a diamond pattern.  Proom evidently got the idea from a home she had seen in Tuscany.

The wall not only separated this Berkeley-Claremont home from Tunnel Road, it made a unique entrance to a very special house.  This, the F.H. Hammer house built in 1909, makes its own statement in the Claremont tradition … with grand proportions and great detail.

Surrounded by gardens and patio, the home with its grand pillared entry opens to great rooms with fireplaces.  There are four large bedrooms, including a master suite, as well as tastefully updated kitchen and baths.  Sitting there, you feel a million miles away from the Berkeley bustle.  And yet, you’re only two blocks to the Claremont Hotel.  All of which makes this home unique as any diamond.

For a private showing of this beautiful Berkeley-Claremont home, just give me a call: 510-847-2409.

Barbara Reynolds, your East Bay real estate specialist

Originally posted on my Berkeley-Oakland real estate blog here: http://31642ee.activerain.com/post/3785382/a-diamond-in-berkeley-claremont.