And just like that school is back in session for many and we are set to start the Fall selling season. Between June and July this year, the median price of homes in Oakland declined 11% in value while Berkeley saw no decline in value and prices remained flat, but the higher-end markets in both Oakland and Berkeley continue to perform well, selling within the same margins as homes did earlier in the spring.
I spoke with a top producing mortgage lender yesterday and she mentioned some of her clients who had taken a pause from their search have reached back out and have initiated an update of their pre-approval. I will be carefully tracking the market to see how things fair, but I predict that homes in great condition, with good light, layout, upgrades and aggressive listing prices will do well. Homes with challenges, especially challenges that one can not cure, may have a tough time.
Last week KTVU news called on me again to provide an update on our real estate market. The last two times I was on air with them I Zoomed comfortably from my own living room, but this time I went into the studio and interviewed with Sal Castaneda. While I was nervous, I really enjoyed the experience! Moreover, I am just thrilled to be a trusted expert in my field.
Thanks everyone for the continued trust and I am taking on new clients, so spread the word!
Check out the full interview and have a wonderful last few weeks of summer.
– Deidre
