2019 Year In Review

What a way to start 2020, I was just awarded company wide top producing agent! Here is a quick celebration …

And now, back to business…

As we start a new year and decade I can not help to feel blessed, I have just completed 15 years in business. When I started real estate, it felt very familiar as my mother was an Oakland/East Bay Realtor, however never in my wildest dreams did I envision a career that I have experienced thus far. Thank you for turning my dream of serving clients in a creative and ethical manner into my reality.

As I  gear up for the 2020 Spring selling season, I will share 2018 vs. 2019 data. Below you will see median prices in a few East Bay cities. Median price simply means the middle of where prices land. They do not tell the entire story as every home is different. For example, last week I had clients interested in a home in Oakmore Highlands. The sold data in the immediate area would indicate that the value of this home could be between $1.5 and $1.7 million, however the inspection reports revealed that the front porch was in need of replacement and the cost due to the architectural design was over $75,000. The point is someone could have paid a high price for the home being that there has been very limited quantity of inventory in this neighborhood and perhaps the layout, location and size was more valuable than the needed repairs, but due to our diverse inventory, my experience has proven that price per square foot is rarely the best method to determine a home's value. 

What are my optimistic predictions for this year?  Spring should be business as usual. I have chatted with several of my stagers and they are booking up quickly, this indicates we should have a new supply of inventory in the upcoming months. There are buyers out there that are eager to find quality properties. 

Here are two quick takeaways:

• If you are considering a move and want to sell your home, now is a good time to chat. While Spring should be a healthy selling season, historically our real estate market becomes fickle during the summer. With graduations, vacations, etc.. the market is not always predictable. Also, the market tends to slow during national election seasons. Prices may still increase, but not at the same pace as other years.

• Preparation and attention to details matter. Likely your direct competition will be doing extensive repairs and renovations. As buyers are becoming more discriminating I definitely noticed that they will pay less or pass over properties that they feel need too much work.

Here is a buyer tip:

• It is highly likely that you will like a property that is popular. It always happens. I highly recommend getting pre-approved by a local lender who is known in our niché market. I have seen this help in multiple offer situations when all things are close or equal. Email me for a list of highly regarded local lenders.

Penthouse Lifestyle, Neighborhood Vibe

Impressive penthouse-living without the dues. This single family home has a marvelous floor plan that is open and generous – entertain on the main floor, retreat to the bedrooms on the second floor. The natural light is abundant and your eyes will dance to the shadows the sun casts throughout. Newer modern west-facing deck with full sun and prized views. The grandiose upstairs has a dreamy master suite with a walk-in closet and a custom window that flaunts the awe-inspiring Bay, San Francisco, Downtown Oakland and Bay Bridge views.

When I took this listing in April of 2017, this well-loved home was in need of updating. The kitchen was worn and all original from 1974, the floors downstairs were original entry tile and old carpet, the master bathroom had seen better days, and the deck was deteriorated and not safe, just to name a few immediate tasks. This home meant the world to the Wang Family so they wanted to present this property in it's best light.

The first task as their Realtor was to determine the property's condition. Before any of my clients invest in cosmetic updates, I always advise them to get current inspections from highly regarded professionals. I would hate for clients to invest money into their homes when there could be significant structural or system repairs needed that could devalue the property.

After inspections are performed, I review the findings with my clients and determine what repairs will yield the best return on their investment. Once my list is prepared, I help my clients obtain bids for said repairs/improvements and work with my clients to create an action plan.

In this case, I envisioned taking this 1970s home and making it sexy, yet comfortable. One of the biggest assets of this home is the panoramic views of Oakland, the Bay, San Francisco and the Golden Gate and Bay Bridges. The deck was in hazardous condition, so engineer Monte Stott was hired by my clients to design the rebuild. After calling six contractors to rebuild the deck, my clients were able to secure a contractor to remove one pier-and-post deck off the living room and remove one cantilevered deck off the master bedroom. The deck off the living room was upgraded with a stainless steel cable with Redwood railing, and the upstairs deck was removed altogether and replaced with a custom 110-inch picture window. The old carpets that had seen decades of life were removed and solid Red Oak floors were installed downstairs.  With the exception of the original tile entry and the tile in the powder room, the entire downstairs was transformed to natural finish floors giving the large space a cohesive feeling.

A few likely original 1970s brass track lights remain in the house, but the majority of the interior light fixtures were replaced with groovy West Elm fixtures. Some of the dying juniper shrubs were removed and a few drought-tolerant plants were added to the front yard, such as variegated Phormium. The inside and outside of the property were painted with Benjamin Moore paint, with the exception of Kelly Moore paint on the interior ceilings. 5 1/2-inch solid wood baseboard with no edge detail was added to add a pop to the clean design. The original 1970s geometric railings and the old Harvest Gold double oven give a nod to the decade it was built.

Brokers Tour Find of the Day

Listed by Sexton Group, Ernie Sexton

1 Ronada Ave., Oakland

love this view!

This view comes FREE with the purchase of 1 Kelton Court #5B. I love 1 Kelton Court! 1 Kelton Court is on a cul de sac a few blocks away from Piedmont Avenue in Oakland.  This is the perfect building for folks who want to be close to everything and yet live in a quiet building. (One of my clients purchased a unit in this building last year.) 1 Kelton Court #5B is currently listed with of Linda Elkin of Red Oak Realty.

coming soon and dreamy!

The floors are being shined and the final details are underway!  2624 School Street is coming soon to the Oakland real estate marketplace!  I love this photograph of this vintage bungalow with the clouds billowing above. The earth has been turned over and fresh sod is coming.  Check 2624 School Street in Oakland online, www.TheSchoolBungalow.com

can you wipe the drool...

Yesterday on Oakland's Broker Tour, I fell in love with 5785 Country Club Drive, (listed by Karen Starr of Grubb Co.)  Claremont Pines, (a neighborhood in Upper Rockridge located between Broadway and Broadway Terrace) is a one of my favorite neighborhoods.  Some of the properties in this area have City and Bay views, the neighborhood is very walkable, there is a neighborhood grocery store, Village Market and in about 20 minutes you can walk to your favorite shops and restaurants on College Avenue in Rockridge. 5785 Country Club, (offered at $1,525,000) was built in 1941 home and has been completely transformed into a sleek, yet relaxed abode that gives homage to mid-century modern design. The light is fantastic and the views of the City and Bay add to the charm.

Rotten Rot

When you are buying an older house it is common for a property to have $10,000 - $20,000 worth of needed repairs.  If a seller has owned their home for many years often there is newly found damage that is discovered during an inspection.  In many cases it is not that the seller intentionally neglected their property, they just didn't know the damage was existed.  Inspections by quality professionals are key as you need to know exactly what you are buying.  Pictured below is rot in the wood framing of a home in the Oakland Hills.  I represented the buyers of this house and I was able to negotiate dry rot and termite damage repairs before escrow closed.  (The sellers paid the cost of the repairs.)  Before my clients moved in the wood was removed, new wood was installed and the appropriate exterior was installed to code.

New Listing in Montclair

Can I plug my newest listing?  www.1895Manzanita.com This house is perfect for the buyer who wants SPACE, 3409 square feet of space.  There is also Golden Gate, Bay Bridge and South Bay views from almost every room.  The rooms do say, "I was built in the 1970's"  but the lay-out is supreme.  Some TLC is needed, but this house is totally move-in ready!  Oh, did I tell you the price? $699,000!

Thanks for reading!  - Deidre

1895 Manzanita

Foreclosures Within the USA

Often people ask me if I am still in real estate.  The media will paint a picture of doom and gloom.  I am not negating the problems, and yes people are struggling.  I think it will that sometime before the economy recovers, but this chart shows how resilient the Bay Area is.

Mid-Century Modern Details

My clients Jill and Cory just closed escrow on a 1953 mid-century ranch house in the Oakland Hills.  When I first saw this house on the multiple listing service, I knew this house had potential.  Homes built in the mid-century typically have steel reinforced foundations and gauging from the information provided, it looked to be a mainly cosmetic fixer.  Additionally, many of the cool mid-century details were still intact.  I could see past the orange paint and green carpets and I knew this middle-aged rancher was a diamond in the rough.  Check out the Nutone doorbell chimes and the vintage mid-century fish tiles in the bathroom.  Jill and Cory have agreed to let me share their renovation journey and I will bring you a progress report -  photo journal soon.

P1040434

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Coming Soon to Redwood Heights! Mid-Century Home in the Oakland Hills

In 9 days my newest listing 3253 Jordan Road will hit the Oakland real estate market!  To preview this home before it hits the market go to, www.3253Jordan.com.  Below is the custom property brochure that was just created for especially for this property. (This brochure will be scored and folded into a small booklet.)

*The attached brochure was created for Deidre Joyner, all rights reserved, by Jenn Kelly

Fab Rockridge Redo!

350 Forest Street in the Rockridge district of Oakland was my favorite house on Broker's Tour last week.  This glorious craftsman, has the detailed you want in a vintage home, box-beam ceilings in the dinging room, built-in's and pillars, silky smooth hardwood floors, wood windows, but it has a modern edge with upgrades galore, including scrumptious kitchen and bathroom remodels.  This house is listed with my friend and colleague Stefanie Parrott for $989,000.  Oh, did I mention that you can sell your car if you buy this pad?  You are a block away from Rockridge BART as well as a block away from Market Hall on College Avenue.

Oakland-Berkeley Real Estate at a Glance

At Red Oak Realty, the real estate brokerage I hang my license, most of our agents were busy this summer!  At almost every weekly meeting  we would discuss the market and talk about the multiple offers that were taking place.  Red Oak has about 80 full-time Realtors and does a great deal of the Bay Area production.  A few weeks back my office opened 89 escrows within one week!  Last week, Red Oak Realtors were both the winning offer and the back-up offer for two properties for sale in Oakland.  I love working at an active office, the energy keeps me competitive and I am able to hear many tales of the East Bay real estate underworld. Attached is a chart of the Oakland-Berkeley market from mid-summer, (July 2009 in select zip codes)   To obtain current real estate data from a select neighborhood, email me, deidre@redoakrealty.com.

Preparing Your Oakland House For Sale

Currently I am preparing one of my  Oakland listings for the market.  Here is a snapshot of what I need to do to position this home to receive the most interest.

• If a seller can afford it, it is best to performinspectionsahead of time. By discovering all of the serviceable and non-serviceable areas of a property, a seller has an option to fix a problem or disclose it to a buyer prior to a buyer writing an offer.  Many sellers want to sell a house, "as-is".  How can a buyer, buy a house "as-is" if they do not know the true condition?  (Sorry sellers, true condition does not mean what you experienced while you lived in your house, rather what a licensed professional determined after careful examination.)  Currently, I suggest a home inspection if possible, a termite inspection, (a termite inspector searches for damage from wood destroying bugs, water damage, fungus and mold.), I highly recommend a sewer lateral inspection, (a homeowner is responsible for their sewer line until it reaches the city main.  Having your sewer in compliance is a city ordinance, (your sewer must be in working order to close escrow) in Berkeley, Alameda, El Cerrito, Richmond, Albany, but not Oakland.  However, many Oakland Realtors suggest that a buyer obtain a sewer lateral inspection.)

When buyers discover needed repairs, deficiencies or other problems during an inspection period of an escrow, they tend to ask for a credit for the needed work, ask for a price reduction or they will simply walk away from the transaction.  By showcasing a home and disclosing all of the material facts up front, (and asking all buyers to sign off on the inspection reports prior to writing an offer) you set yourself up for a smoother transaction.  When representing a seller, I still encourage a buyer to perform their own inspections, so they can be comfortable in their purchase, but I know that the likelihood of new discovery is slim.  I just represented a buyer for a home in the Oakland Hills, I had my buyers hire a sewer professional to examine the sewer line and found that the sewer was constructed of terra-cotta that had many open joints, was full of roots, and needed  $7700 worth of repairs.  Since this was newly discovered information, I negotiated a full credit from the sellers.

• Staging can make your house look like a designer showcase, the stager that I recommend is Bonnie Pearson , she does amazing work that really showcases houses.  In today's economy it is difficult for many sellers to afford a professional stager so I work with clients, their belongings, add what I can, and am still able to have successful results!  Check out my latest listing, 60Edgemont.com.  This property is set to close next week with 7 offers and my seller and I staged it together!
• Elbow grease makes a difference!  Whether you do it yourself or hire a professional, clean walls, fresh paint, scrubbed bathrooms and clean windows aid in the sell of your home.  In today's market, buyers need a house to make them feel good.  When a house is clean, a buyer will stay in the house longer, and this is what a seller wants.
• Price! Yes, the dreaded conversation!  I know your house is special and I will showcase it as the best house in the neighborhood, but you have to price a house to bring in buyers.  Buyers have access to Zillow.com, Redfin, Trulia, and many other real estate websites.  Buyers know exactly what houses are selling for, (there is no fooling a buyer or their agent) and they know when a house is priced too high.  It is a National Association of Realtor statistic:

If you under price a house by 5%, 80% of qualified buyers will show up to your house to consider buying it.

If you over price a house by 5%, 30% of qualified buyers will show up to consider buying it. If you over price, you loose 50% of interest!

Every property is different, every client is different, gone is the day where all sellers can afford to move out of their properties, hire help to scour and primp a home.  It is important to strategize with a real estate professional who will guide you through the selling process within your budget.

Oakland and Berkeley Area Homes by Region and Price

The blue areas on the map above = 3 bedroom, 2 bathroom homes priced above $800,000.

The dark brown area on the map above = 3 bedroom, 2 bathroom homes priced between $500,000 and $800,000.

Thelight brown area on the map above = 3 bedroom, 2 bathroom homes priced at $500,000 and below.

This chart applies to home prices in today's market.  There will always be exceptions.  The other day, I looked up all of the active, 3 bedroom/2 bathroom homes in 94602 zip code. (homes that range between $500K and $800K)  There was one home listed in the high $400,000's.  This home is a bank owned property and needs some work.  There were 3 homes priced over $800,000, but there have been on the market for over 2 months.  (a sign that they are over priced.)

Oakland and Berkeley Real Estate at a Glance

Berkeley:

                                  2009                 2008

Active Listings             138                    188
Under Contract            47                      35
Closed Sales                 38                      60
Average Sales Price   $828,624      $835,000


Oakland:
Active Listings             1052                   2286
Under Contract            363                     226
Closed Sales                  280                    201
Average Sales Price   $335,000        $492,000

Keep in mind the Oakland stats include all areas of Oakland.  To understand a specific neighborhood, I can do a custom report for you.  deidre@redoakrealty.com

Redwood Heights Home Just Got A Cool Price Reduction

This sunny 1940's home on Reinhardt Street in Oakland just got a $30,000 price reduction, making Redwood Heights affordable to first time buyers.  (I love the vaulted ceilings in this living room!)    I work with the listing agent, Leif and will be holding it open for him this Sunday.  Being a Redwood Heights resident, I know the inside scoop for this neighborhood.  Email me if you have questions.  - Deidre

Upper Rockridge Modern Compound

Last Sunday I held 6251 Contra Costa Road open for my colleague Pat Leaper.  This home has over 6000 square feet of living space and is truly a unique property.  Designed by award winning architect Martin Borenstein as his personal residence, this dwelling gives a nod to mid-century modern.  This flat roof house with floor to ceiling windows and radiant heated floors has stunning views and  an observation deck that is a show stopper.   The Borenstein home can easily shelter two large families as it is two houses rolled into one,  two kitchens, two fireplaces, two entries, multiple decks and did I say views?  This is a great piece of land and has endless possibilities!  This home is now available for $1,995,000.

Mid Century Modern Home In The Oakland Hills!

Imagine a mid-century home from a classic American  movie.  You know the house with high style, walls of glass, views and Doris Day inside.  Roger Lee was an architect who designed high style for the middle class.  Creating over 100 exquisite homes, Roger Lee is one of the forgotten mid century modernist.  Five Krohn (in Montclair) created from the dreams of Roger Lee  just went pending.  One lucky Oakland home buyer will scoop up a great place to call home and a piece of art.  (5 Krohn is listed with Christie Seeley of  Pacific Realty)