The Joy of Entertaining...

Over the past two months, I have been preparing this beautiful cottage for the marketplace. I think this is the perfect place to have the ultimate dinner party.  Every house has a story to tell and the cottage at 3915 Laguna lets the imagination take flight. For me, the discovery of the history of a home is a labor of love and is as important as the home itself. Christina and Richard transformed their Dimond Cottage into a masterpiece and it is an honor to represent them in the sale of their first home. Each home I market has a story to tell. Please call me when you are ready to tell the story of your house. Click here to view the Laguna Cottage.

3915 Laguna
3915 Laguna

Reinvent your room

Matthew Kowalski is showcasing his art at my office. Red Oak Realty, 2099 Pleasant Valley Avenue in Oakland.  I love the bright colors!

Add a splash of color to your beige room.

Matthew Kowalski: Artist Statement

 “I create my Radical Relief art using found objects as a printing medium. Finding the objects I use is random and up to fate. I am driven by curiosity in my search for and discovery of these tools, society's discards. I get a great sense of satisfaction knowing that I am turning someone’s garbage into gold and making my small contribution to stopping the waste running amok in our world. It makes me feel good knowing that everything we need is here, all around us; we don’t need to make more."

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.

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CountryClubSunroom
CountryClubMaster
CountryClubMasterBath

what is needed to get pre-approved for a home loan?

Often times people are a little apprehensive about going through the pre-approval process.  Frankly, we all are a bit afraid of credit scores and we hope that we will be approved for an amount that we want.  The following is a typical need list.Every case is different, but this is what is typically needed to get pre-approved for a home loan.

A typical need list for salaried borrowers looks like this: We need copies of - 1.  Most recent 30 days of consecutive paystubs 2.  2008 and 2009 W-2s 3.  Liquid accounts (checking, savings, money market, stock, etc.).  Most recent two months consecutive statements.  ALL PAGES of each statement please - the lender will require this. 4.  Retirement accounts (401k, IRA, etc.).  Most recent statement(s).  Again, all pages of each account please. 5.  Valid Driver's License or Passport If a borrower owns a rental property, or is self employed the lender will also call for: 6.  Most recent two years (2008 and 2009) 1040s (federal tax returns), all pages and schedules. If a borrower is a partnership. 7.  Most recent two years K-1s and partnership returns (in addition to personal 1040s). If a borrower is a corporation. 8.  Most recent two years corporate returns (in addition to personal 1040s)

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. A picture is worth a 1000 words. This picture shows rot in the wood framing of this house. The damaged pieces were cut out and replaced with new wood. A picture is worth a 1000 words. This picture shows rot in the wood framing of this house. The damaged pieces were cut out and replaced with new wood.

Real Estate Update in Oakland and Berkeley

Berkeley:

  • Sold properties Median Price $726k down from $762k in Nov 2008
  • Sold units 43 up from 25 in Nov 2008
  • Current for sale properties Median price $699k same in Nov 2008
  • Units for sale 131 down from 159 in Nov 2008
  • Months supply of inventory at 1.7 down from 3.3 in Nov 2008
  • Days on Market at 65 up from 37 in Nov 2008

Oakland:

  • Sold properties Median Price $254k up from $200k in Nov 2008
  • Sold units 220 same from 219 in Nov 2008
  • Current for sale properties Median price $235k from $188k in Nov 2008
  • Units for sale 870 down from 1934 in Nov 2008
  • Months supply of inventory at 1.8 down from 6.2 in Nov 2008
  • Days on Market at 39 down from 61 in Nov 2008
  • Median price in Nov 2007 was $400k

The Real Estate 411 in Oakland and Berkeley

The two charts, provided by Altos show this week in real estate in Oakland and Berkeley.  This is an overview so it includes homes in excellent and in poor conditions, (and every  neighborhood).  To get a better sense of the market, email me.  Some properties are still flying off of the market due to high demand and the lack of quality inventory.  - Deidre

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