Real Estate News

Last 30 Days in the East Bay for July 2018

last_30_days_in_east_bay_patty_rogers.png

Job growth is driving the demand for housing while hikes in mortgage Interest rates, increasing down payment requirements and tightening mortgage qualifications are challenging the consistently increasing market activity and rise in home pricing over the last 6 months. In some East Bay neighborhoods there is a slowing in new and active homes to market, median pricing and list to sale price, signifying a market shift and the first downtick since the beginning of 2018.  

STATS: July and (Change since June)

BERKELEY

SOLD  73 (+11)
New 35 (-18)
Active 57 (-20)
Median Days on Market 22 (+7)

MEDIAN PRICE
SOLD $1,220,000 (-$105,000)
New $998,000 (-$52,500)
Active $1,150,000 (-$45,000)
Sale to List Price 115% (-4%)

Patty: Berkeley stats are a good benchmark for East Bay market activity. 9 more homes SOLD in July, with decreases in new (-18) and active (-20) listings to market. Homes are staying on market for +7 days, at approx. 3 weeks. List to sale price has decreased by 4%. Make a home purchase in Berkeley while inventory is available.  

ALAMEDA

SOLD 39 (No Change)
New 14 (-13)
Active 22 (-6)
Median Days on Market 25 +(13)

MEDIAN PRICE
SOLD $1,100,000 (+$225,000)
New    $958,000 (-$43,000)
Active $958,000 (-$33,500)
Sale to list price 114% (+2%)

Patty: Alameda inventory has slowed for the second month in a row with approx 50% less new listings to market. Median SOLD pricing has increased while median offer pricing of new and active listings has decreased. Buyer demand continues, with final sale prices creeping up to 14% over ask.

EMERYVILLE

SOLD 13
New 10
Active 17
Median Days on Market 17

MEDIAN PRICE
SOLD $685,000
New     $624,000
Active  $599,978
Sale to list price 111%

Patty: Alameda inventory has slowed since last month, with about 30% less active listings though the same amount of homes have sold since last month showing steady buyer demand, with final sale prices moving up by a small margin. Expect to offer up to 12% over ask to compete.

PIEDMONT

SOLD  7 (-6)
New 4  (No Change)
Active 6  (-1)
Median Days on Market 16 (-2)

MEDIAN PRICE
SOLD $2,500,000 (+$485,000)
New $2,096,000 (+$20,000)
Active $2,495,000 (-$177,000)

Patty: July shows a slower market as will happen during the summer months with sale pricing and homes coming to market at a lower median price than the previous month. The market remains consistent in Piedmont with buyer demand for new and active listings. Expect a start point for homes here to be near and above the $2m mark. 

Next Level East Bay Real Estate Representation! 
PATTY ROGERS | The GRUBB Co. | Broker Associate, Lic #00669968  

#marketsurvey #marketreport #dreamhome #homes #eastbayrealestate #realestate #homesales #homesforsale #luxurylife #eastbayrealtor #homeseller #listingagent #homebuyer #buyeragent #eastbaylife #realtorlife #sanfranciscoeastbay #berkeley #oakland  #piedmont #emeryville
#modicumofcharm #pattyrogers #thegrubbcompany #noBS


Chic, Ultra Industrial Home SOLD | Oakland

This Chic, Ultra Industrial home just SOLD!

Congratulations go to our wonderful buyers who get to experience Oakland’s cool urban lifestyle in true style. 
 
3428 HELEN STREET, OAKLAND, CA 94608
4 Bed | 3.5 Bath | 2125SF | 1 Garage Parking

Spotless brand new construction in this ultra industrial West Oakland home. The home features a suspended staircase, soaring ceilings, an elegant floor plan, luxury finishes, wide plank oak flooring, custom tile, quartz counters, radiant heating and designer lighting. Spacious backyard and views make this a true "Modicum of Charm" home. 

SOLD for $1,015,000. Buyer Represented.

Next Level East Bay Real Estate Representation! 
PATTY ROGERS | The GRUBB Co. | Broker Associate, Lic #00669968  

#realestate #agent #sellyourhome #buyer #dreamhome #investment #buyahome #forsale #housesales  #realestatelife #home #househunting #smartagents #realtors #listings #localrealestate #lifestyle  #berkeley #oakland #alameda #pattyrogers #realestatebroker #thegrubbcompany  #eastbayrealestate #sanfranciscoeastbay #modicumofcharm #40yearsinrealestate #hiphomes #NoBS


East Bay Real Estate Market Report

east_bay_market_report_june.png

#EastBay #HomeSales are robust!

Interest rates have risen with 2 more expected rate hikes expected this year. Inventory has loosened, with more active homes on market and homes selling within 1-2 weeks on market. The time to buy and sell is now!

STATS:

BERKELEY (ALL) 
SOLD 64
New 53
Active 77
Median Days on Market 15

MEDIAN PRICE
SOLD $1,325,000
New $1,050,500
Active $1,195,000
Sale to List Price 119%

Patty: Berkeley is a jamming market. 11 more homes sold than last month with inventory increasing steadily since March. Final Sale prices have declined by 1-2% since March and median pricing has increased by a small margin. Expect to add up to 20% to your offer to compete in this busy market. 

LOWER ROCKRIDGE (OAKLAND)
SOLD 4
New 4
Active 5
Median Days on Market 16

MEDIAN PRICE
SOLD $1,989,170
New $1,147,500
Active $1,195,000
Sale to List Price 118%

Patty: The charming craftsman homes and condos here make for a popular buyer destination. A slower moving market with only a couple of more sales and few more new and active listings than the previous month. Homes sell in the Low to High $1m range and move within a week of coming to market. Final sale prices are competitive. 

PIEDMONT
SOLD 13
New 4
Active 6
Median Days on Market 18

MEDIAN PRICE
SOLD $2,015,000
New $2,076,000
Active $2,672,000

Patty: Home pricing has risen with 13 homes sold and not much inventory on or coming to market. Expect a start point for homes here to be near and above the $2m mark. So little inventory signals competition for available homes and high buyer demand.

ALAMEDA
SOLD 39
New 27
Active 28
Median Days on Market 12

MEDIAN PRICE
SOLD $875,000
New    $995,000
Active $991,500
Sale to list price 112%

Patty: Alameda inventory has slowed since last month, with about 30% less active listings though same amount of homes have sold since last month showing steady buyer demand, with final sale prices creeping up by a small margin. Expect to increase offer your price of up to 12% over ask to compete.

Next Level East Bay Real Estate Representation! 

PATTY ROGERS | The Grubb Co. | Broker Associate, BRE#00669968 

#realestate #agent #sellyourhome #buyer #dreamhome #buyahome #homebuyertips #1sttimehomebuyer #forsale #homeforsale #housesales #househunting #smartagents #home #realestatelife #mortgage #listings
#eastbayrealestate #pattyrogers #brokerassociate #eastbayrealtor #realtorlife #sanfranciscoeastbay #modicumofcharm #igotyourback #thegrubbcompany #aroundtheblock #40yearsinrealestate #realestatecloser #hiphomes #NoBS


Last 30 Days in the East Bay - Home Survey

Last 30 days in the East Bay (3).png

The East Bay is Hot right now!!

Happy to report that Inventory has loosened up with competitive bidding still the norm. Median prices slowly rise with homes selling within 2 weeks of coming to market.

STATS:

BERKELEY (ALL) 

SOLD 51
New 52
Active 60
Median Days on Market 13

MEDIAN PRICE

SOLD $1,280,000
New $1,112,500
Active $1,272,000
Sale to List Price 120%

Patty: One of the most active East Bay markets with increasing inventory, a steady sales rate and home pricing leveling off with competitive bidding to up to 20% over ask.

UPPER ROCKRIDGE (OAKLAND)

SOLD 6
New 3
Active 2
Median Days on Market 16

MEDIAN PRICE

SOLD $1,462,500
New $1,695,000
Active $1,695,000
Sale to List Price 118%

Patty: Sales increased in early spring with few current listings on market and a consistent upper $1m price point with buyers willing to overbid by up to 18% for a home in the Oakland Hills. 

PIEDMONT

SOLD 11
New 9
Active 15
Median Days on Market 12

MEDIAN PRICE

SOLD $2,050,000
New $1,895,000
Active $1,850,000

Patty: Expect home pricing from $2M-$4M for the large homes and estates in Piedmont. Finally, homes are coming to market with brisk sales keeping pace with new inventory.

ALAMEDA

SOLD 38
New 39
Active 46
Median Days on Market 11

MEDIAN PRICE

SOLD $895,000
New    $885,000
Active $891,000
Sale to list price 110%

Patty: Wow! Alameda is hot with inventory nearly doubling in the last 30 days and flying off market, while median price has risen  slightly. Expect to cushion your offer by 10% to compete. More inventory may soften final sales pricing - though strike while inventory is plentiful.

Next Level East Bay Real Estate! 

PATTY ROGERS | Rogers & Thacker Group | The Grubb Company | Broker Associate, BRE#00669968 

#eastbayrealestate #homesforsale #luxurylife #pattyrogers #brokerassociate #eastbayrealtor #eastbaybroker #eastbaylife #realtorlife #sanfranciscoeastbay #modicumofcharm #homesforsaleinoakland #homesforsaleinberkeley #igotyourback #thegrubbcompany #aroundtheblock #40yearsinrealestate #hiphomes #NoBS


Increasing Bay Area Home Prices - What to Do?

bay_area_home_prices_increase_patty_rogers.png

RISING HOME PRICES

With a 6 year streak of rising home prices in the Bay Area, and median prices jumping double digits in each of last eight months, buyer demand continues to outpace the supply of available homes.

SALES PRICING

Year to Year sales price records shows an 11% increase in Alameda County for  a current median sale price of $810,000 and 8.4% price jump in Contra Costa for a median sale price of $591,000. 

FACTORS

Median prices in the entire Bay Area jumped nearly 15% in the last year owing to a booming tech sector and the region’s job growth which is outpacing new construction.

More mid and high-end homes are on the market with a lower inventory of affordable homes.

BUYERS

It’s a challenging time for buyers who need to make sure their agent helps determine a winning offer strategy.

SELLERS

Sellers face the challenge of pricing realistically and must think about selling now, rather than holding in hopes of further pricing increases. 

INTEREST RATES

The economy has made nearly a full-recovery since 9 years ago ago when the housing downturn took its toll. Interest rates usually rise when the economy is robust as with the latest increase of March 21, 2018. It may be wise to move to lock in today’s rates.

Next Level East Bay Real Estate Representation! 
PATTY ROGERS | The Grubb Co. | Broker Associate, BRE#00669968 

Excerpts for this post from @theeastbaytimes | Bay Area Home Prices Continue Upward to Record Heights | By Louis Hansen | Bay Area News Group

#eastbayrealestate #homebuyer #homeseller #pattyrogers #brokerassociate #eastbayrealtor #eastbaybroker #eastbaylife #realtorlife #sanfranciscoeastbay #modicumofcharm #homesforsaleinoakland #homesforsaleinberkeley #igotyourback #thegrubbcorealtors #thegrubbco #aroundtheblock #40yearsinrealestate #realestatecloser #hiphomes #NoBS


The Last 30 Days in the East Bay

Last 30 days in the East Bay (1).png

A brisk market with rising final sale prices. Buyer demand for homes is strong in 50 neighborhoods of Oakland, Berkley and Alameda. Remain flexible, and leaving room for competitive offers is key.

Here are the stats. For more CONNECT! > https://pattyrogershomes.com

BERKELEY (ALL) 

SOLD 44 (+16) 
New 39 (+9) 
Active 46 (+5)
Median Days on Market 12 (-2) 

MEDIAN PRICE

SOLD $1,300,000 (+$182,500)
New $1,158,000 (+$13,000)
Active $1,222,500 (+$27,500)
Sale to List Price 122% (+5%)

Patty: Sale to List Price rose 5% over last month as more sales were made, yet still limited inventory under $1.2m means bidding remains competitive nudging up final sale pricing across the board. 

NORTH BERKELEY HILLS 

SOLD 11 (+5) 
Active 14 (+6)
Median Days on Market 7 (-4)

MEDIAN PRICE

SOLD $1,285,000 (+$267,000)
New $1,379,00
Active $1,741,500
Sale to List Price 121% (+6%)

Patty: The $1.2m - $1.7m price point is the most active with homes flying off the market within 7 days. Competitive bidding is making final sale prices rise, 6% in the last 30 days. Think of purchasing in higher $$$ areas off-season or be prepared to compete.

EMERYVILLE | OAKLAND

SOLD 9
New 10
Active 11
Median Days on Market 11

MEDIAN PRICE

SOLD $659,100
New $599,000
Active $599,000

Patty: Last 30 days showed lower price points than current market offerings. Emeryville offers mostly condos; as one of the most affordable, entry level housing areas in Oakland and is great locale for commuters. Find 2 bed/1 & 2 bath condos under $1m.

ALAMEDA ISLAND

SOLD 27
New 12
Active 21
Median Days on Market 23

MEDIAN PRICE

SOLD $925,000
New    $824,000
Active $849,000
Sale to list price 112%

Patty: Lots of inventory in Alameda, with approx. 3 weeks to compete for homes under $1m, many requiring upgrades or overhauls, depending upon age and improvements. At final sales price 12% over asking, make effective offers to call Alameda your home. 

Next Level East Bay Real Estate Representation! 
PATTY ROGERS | The Grubb Co. | Broker Associate, BRE#00669968 

#marketupdate #homepricing #eastbayrealestate #luxurylife #pattyrogers #brokerassociate #eastbayrealtor #eastbaybroker #eastbaylife #realtorlife #sanfranciscoeastbay #modicumofcharm #homesforsaleinoakland #homesforsaleinberkeley #igotyourback #thegrubbcorealtors #thegrubbco #aroundtheblock #40yearsinrealestate #realestatecloser #hiphomes #NoBS


How can Real Estate Agents Help Each other?

Agent to AgentReferrals (1).png

#realestatereferrals #referralfee 

When a client makes a big move to another City or State we want to make an agent referral with confidence. 

patty standing 3.jpeg

While we follow and friend other agents on social media, reaching out in real time to know agents in other markets helps build a strong agent referral network.

As a Real Estate Broker Associate in the San Francisco East Bay, I make and receive agent referrals from San Francisco and beyond, paying a 25% referral fee through escrow. 

Take advantage of my nearly 40 years of real estate experience to find the right “modicum of charm” home or provide expert listing representation for your referrals in the San Francisco East Bay.

Let’s help our clients have a smooth transition by making great agent recommendations.

"Follow Me" on social media and share my referral program with any Agent you think may benefit. I'd love to learn about you and your real estate market.

Next Level East Bay Real Estate Representation
PATTY ROGERS | The Grubb Co. | Broker Associate, BRE#00669968 

#agentreferral #sanfranciscoeastbay #eastbayrealestate #pattyrogers #brokerassociate #eastbayrealtor #eastbaybroker #eastbaylife #realtorlife #modicumofcharm
#luxuryrealestatebroker #homesforsaleinoakland #homesforsaleinberkeley #oakland
#berkeley #alameda #piedmont #igotyourback #thegrubbcompany #thegrubbco
#aroundtheblock #40yearsinrealestate #listingagent #buyersagent #realestatecloser
#hiphomes #NoBS


Mortgage Rate History: Lock your Rates!!

mortgage_rate_history_pattyrogers (1).png

After a slight drop last week, #mortgagerates are rising. According to @Bankrate 's (bankrate.com), weekly survey of large lenders, the benchmark 30-year fixed-rate mortgage rose to 4.58 percent from 4.54 percent.

Want to get ahead of rate increases? CONSIDER LOCKING IN YOUR MORTGAGE RATE NOW!!! You may have to pay a small fee for a lock though it's a great strategy, offering security in the face of possible rate increases. 

Mortgage rates have increased in 9 out the past 10 weeks, and they may continue to rise. The Fed raised it’s benchmark interest rate to the highest level in ten years. Chairman Jerome Powell cited impressive job gains and low unemployment rates as signs that the economy is ready to move forward with planned rate hikes.

The hike is .01% lower than the 52-week high of 4.59%, and is 0.63 % points higher than the 52-week low of 3.95%.

Mortgage rates respond to market forces — specifically, to the needs of bond investors. The Federal Reserve exerts an indirect influence on mortgages.

Sometimes mortgage rates go up when the Fed increases short-term rates, as the central bank’s action sets the tone for most other interest rates. 

But sometimes mortgage rates fall after Fed raises. In June ’04 the central bank made raises 17 times in two years and mortgage rates fell during that summer and fall, which made investors less concerned about inflation, so mortgage rates fell.

They eventually rose, and were higher in June 2006, at the end of the rate hikes, than they were at the beginning in 2004.

In 2017, housing economists predicted mortgage rates would rise. Instead, they remained fairly steady despite three Fed rate hikes. Though rates began to steadily raise at the beginning of 2018, the prior rate hikes of ’04-’06 show that the central bank’s actions aren’t predictive.

Consult with your Realtor for lender recommendations, to get professional, up-to-the-minute advice and information on how to make the best mortgage decisions and ASK about locking your rate while you house hunt!!

Next Level East Bay Real Estate Representation! 

PATTY ROGERS | The GRUBB Co. | Broker Associate, Lic #00669968  

Excerpts for this post courtesy of bankrate.com @amandadixon

#federalreserve #mortgagerates #primelending #interestrates #howtobuyahome #oaklandrealestate #oaklandrealestatebroker #oaklandrealtor #oaklandhomesforsale #localrealestate #lifestyle #homesales #berkeley #oakland #alameda
#pattyrogers #realestatebroker #brokerassociate #thegrubbco #eastbayrealestate #sanfranciscoeastbay #modicumofcharm #homesforsaleinoakland #homesforsaleinberkeley #igotyourback  #aroundtheblock #40yearsinrealestate #realestatecloser #hiphomes #NoBS


The Last 30 Days in East Bay Real Estate

30_days_east_bay_patty_rogers (3).png

East Bay Market Report 

A brisk market with rising sale to list prices as the spring market begins. Inventory slightly up though buyer demand for homes in 50 neighborhoods of Oakland, Berkley and Alameda remains strong and competitive. 

Here are the stats for 4 neighborhoodS:

BERKELEY

SOLD 28
New 30
Active 41
Median Days on Market 14 

MEDIAN PRICE
SOLD $1,117,500
New $1,145,000
Active $1,195,000
Sale to List Price 117% (+)

Patty: Sale to List Price rose 4% over last month as more, yet still limited inventory under $1.2m means bidding remains competitive nudging up final sale pricing. Number of homes SOLD doubled over last month with the rate of homes to market and active market remaining unchanged. 

NORTH BERKELEY HILLS

SOLD 6
New 5
Active 8
Median Days on Market 11

MEDIAN PRICE
SOLD $1,285,000
Active $1,595,00
Sale to List Price 115% (+)

Patty: The $1.2m - $1.6m price point is the most active in this neighborhood with the number of homes sold doubling over last month while inventory remains unchanged with available homes selling quickly with the sale to list price at 4% more than the prior month. 

ALAMEDA (Island)

SOLD 24
New 21
Active 31
Median Days on Market 16

MEDIAN PRICE
SOLD $815,000
New $849,000
Active $850,000
Sale to List Price 109%

Patty: A few more homes to market this month than last with the Median pricing rising slowly but steadily. Sale to list Price up 1%. With home available under $1m, buyers are well-prepared to offer competitively, with an eye on homes with added value potential.  

PIEDMONT

SOLD 4
New 6
Active 9
Median Days on Market 3

MEDIAN PRICE
SOLD $3,125,000
New    $2,075,000
Active $1,995,000

Patty: The inventory has tripled as Spring arrives with 9 active listings. Recent sales drove up the median sale price with 2 recently sales coming in over over $3.5m. New listings range from just under $1m for 1338 SF for 3 Beds to the high $3m’s for a 5,463SF home of 7 beds.

Learn More about East Bay Home Pricing >

Next Level East Bay Real Estate Representation! 
PATTY ROGERS | The GRUBB Co. | Broker Associate, Lic #00669968  

 

#eastbaymarketreport #buyingahome #eastbayhomeprices #localrealestate #eastbayrealestatemarket #eastbayhomepricing #lifestyle #homesales #berkeley #oakland #alameda #piedmont
#pattyrogers #realestatebroker #brokerassociate #thegrubbco #eastbayrealestate #sanfranciscoeastbay #modicumofcharm #homesforsaleinoakland  #homesforsaleinberkeley #igotyourback  #aroundtheblock #40yearsinrealestate #realestatecloser #hiphomes #NoBS


Last 30 Days in East Bay Real Estate - Stats

30_days_east_bay_patty_rogers (1).png

Overall the East Bay continues with a brisk real estate market, improving inventory and buyers poised to leap in the 50 neighborhoods of Oakland, Berkley and Alameda. Here are the stats for 4 neighborhoods. Connect with me for more neighborhood info.

BERKELEY

  • SOLD 15
  • New 27
  • Active 40
  • Median Days on Market 11

MEDIAN PRICE

  • SOLD $1,375,000
  • Active $1,077,500
  • Sale to List Price 113%

Patty: A brisker market in Berkeley allows buyers to choose from more, yet still limited inventory while keeping room in the budget for a winning bid.

NORTH BERKELEY HILLS

  • SOLD 3
  • New 4
  • Active 7
  • Median Days on Market 11

MEDIAN PRICE

  • SOLD $1,375,000
  • Active $1,249,888
  • Sale to List Price 109%

Patty: Homes for under $1.5M are available, with a short viewing period and buyers ready to offer and compete in the market place. Inventory is slowly picking up.

ALAMEDA

  • SOLD 31
  • New 20
  • Active 27
  • Median Days on Market 11

MEDIAN PRICE

  • SOLD $780,000
  • New $764,500
  • Active $839,000
  • Sale to List Price 108%

Patty: With a fairly brisk market in Alameda, homes are available under $1m. Buyers are well prepared to offer competitively, with an eye on homes with added value potential.  

PIEDMONT

  • SOLD 4
  • New 2
  • Active 2

Median Days on Market 3

  • MEDIAN PRICE
  • SOLD $2,575,000
  • Active $1,773,500

Patty: Currently on market, only two 3 and 4 bedroom homes available for under $2m. Piedmont home purchases are at a premium with buyers poised to leap. Bring your best first.

Next Level East Bay Real Estate Representation! Patty Rogers, The Grubb Co., Broker Associate, BRE#00669968  Doing business by your referrals.

#buyingahome #thescoop! #eastbaymarketreport #januaryeastbay #eastbayneighborhoods #eastbaylocal #eastbayrealestatemarket #pattyrogers #brokerassociate #eastbayrealestate #sanfranciscoeastbay #modicumofcharm #homesforsaleinoakland #homesforsaleinberkeley #igotyourback #thegrubbco #grubbco #aroundtheblock #40yearsinrealestate #realestatecloser #hiphomes #NoBS