oakland real estate: The question is, "Who would buy an uninhabitable house for $400K?" - 03/03/18 02:16 PM
The news exploded over a new listing of a 1036 sq ft home that is uninhabitable because of fire, yet is listed at  $400K and received 17 offers.  Read: Uninhabitable Oakland House With Collapsed Roof Hits The Market for $399,999
Who would buy that? 
The answer is "Location, location, location."
It is a known fact that we have a severe housing crisis in the Bay area of CA, and perhaps in other parts of the state as well. By crisis we mean lack of affordable housing, low inventory of homes for sale, escalating prices.
In Paradise Park area of Oakland where this property is … (6 comments)

oakland real estate: Who’s at fault if clients/agent don't adhere to contract provisions - 05/07/14 05:31 PM
Who’s at fault? Seller or Listing Agent
Listing agent claims to have over 25 years of experience…yet, she is embroiled in a tedious, contentious and continuous process because there appears to be a serious failure to communicate. Something is terribly out-of-synch,

Request for Repairs
Sellers agreed to a list of repairs based on specific items on the home inspection. When they were finished, listing agent informs buyer agent who then proceeds to get re-inspections done. Lo and behold, the re-inspection finds one item that was not done. Listing agent said the electrician told the sellers that it wasn’t necessary to … (35 comments)

oakland real estate: Set an offer date but didn’t get one? Raise the price instead. Really? - 07/05/13 12:33 PM
They set an offer date,  but didn’t get one. They raised the price instead. Really?
Two months ago, I wrote about a property in Montclair area of Oakland CA. Expecting multiple offers but only received one..or none? Believe it! .
So what happened?
The last time I checked, after 40 days on the market, the listing was cancelled. Several thoughts were offered about why it was cancelled. It isn’t that it wasn’t marketed properly because it was staged and photographed beautifully.
Pricing --- it was listed at $719K at first, then the sellers RAISED the price to $750K … (9 comments)

oakland real estate: Hillside Montclair home with fabulous bay views. Seismic upgrades. - 05/24/13 04:01 PM
Just listed, a hillside home in Montclair (Oakland CA). 
Fabulous bay views.
2-story contemporary home with rustic flair. 3 bedrooms/2 baths/formal areas/kitchen and breakfast nook on main level; expansive multi-purpose room and 4th bathroom on lower level.
Hot diggity dawg -- a hot tub! Terraced garden with flowering and fruit trees (Meyer Lemon and Pomegranate).  Hardwood floors, saltillo tile and a vintage Wedgewood gas stove/oven all contribute to the homey ambiance. Add views to the mix, and you have a fantastic home to enjoy whether you choose to entertain indoors or outdoors, or simply luxuriate, this home offers … (6 comments)

oakland real estate: Should realtors "pull" a permit? Why is the permit history important? - 05/03/13 06:20 AM
"Pull a permit" is oft used in the wrong context. Realtors get copies of the permit history. We don't "pull" the permit. Or at least, we shouldn't.
Homeowners and contractors pull -- or request/apply for a permit.
When working with a buyer or seller, realtors are likely to check the permit history of the property for different reasons. As a listing agent, if I publish the permit history, it's to prove that certain work was done. Nonetheless, I still urge the other party to do their own due diligence and delve as deeply as they wish as part of their own … (5 comments)

oakland real estate: Don't be surprised if property sells for more today than a year ago - 03/24/13 09:02 AM
List price: Too low? Too high?
It was a buyer's market in 2011. And yes, back then, buyers had more opportunities to negotiate lower offers, credits, and/or repairs.
But starting in 2012.....prices started improving. Buyers started getting off the fence.
And now, in 2013....it's turned into a full-fledged seller's market. Even if our CMA shows recommends a certain list price, the final value is whatever the buyer is willing to pay.
Out of area agent
A realtor from out of the area has a listing at Alameda's The Willows condominium complex where I sold a property about a year … (3 comments)

oakland real estate: True Live/Work Lofts in Fourth Street Lofts in Oakland - 07/22/12 03:46 PM
Just Sold: Live/Work Loft in Fourth Street Lofts in OaklandFourth Street Lofts on 247 Fourth Street in Oakland CA is ideally located in Jack London Square, and is contributing to the rebirth of an urban lifestyle.  
Why is this a popular location? Easy. It’s surrounded by fabulous restaurants including Yoshi’s (for jazz and Japanese food), Chop Bar for brunch, the ferry to San Francisco, Amtrak station, the Waterfront Hotel and something new: shuttle bus to BART!

Oakland’s Historic Warehouse District
The building, which is on the National Register of Historic Places in Alameda County, California, was built … (6 comments)

oakland real estate: Believe it: we have low inventory of homes for sale in East Bay CA - 07/21/12 03:18 PM
Believe it when we tell you we have very low inventory of homes for sale in East Bay CAarea.  If you’re buyer’s agent, then you share in the angst of finding suitable properties for your clients, only to find yourself in a bidding war more than once.Here’s a look at some of the East Bay cities. To give you an idea of the size of the city, I’ve provided the latest population count.
Just remember, bidding doesn’t always have to be over the list price because the  list price is merely a starting point depending on the seller’s and the agent’s pricing … (3 comments)

oakland real estate: Can you send/show me some listings? My agent is on vacation - 06/18/12 01:09 PM
Can you send/show me some listings? My agent is on vacation.Last Sunday, I held an open house. One of the buyers asked a lot of questions about the neighborhood comps. Just to give him an idea of what else is listed in the vicinity, I used my APR (Alain Pinel Realtors) app  on my phone to show what else is available so he can do a quick comparison. I would have been happy to at least send him the APR app, but he didn’t want to give me his number.During the open house, he asked so many questions and took time … (33 comments)

oakland real estate: Should buyers be aggressive with their offer in this market? - 05/12/12 05:17 PM
Can buyers see they have to be bold and aggressive when writing an offer in this market?How can the real estate market have changed so drastically? And it isn’t just in Alameda , Oakland or Piedmont CA.Last year, my buyers were able to negotiate price, terms and conditions...Last year, my buyers didn’t have to compete against other buyers.Last year, there were more properties to choose from because buyers weren’t motivated enough to buy.But that was last year.Lickety-split, the real estate market turned. And buyers need to be aware that writing an offer for less than list price is insane, especially when … (35 comments)

oakland real estate: Oakland CA 2011: Short Sales and Bank-Owned Properties are 54% of total sales - 01/06/12 05:46 AM
Oakland CA Year End Report 2011: Short Sales and Bank-Owned PropertiesIt is essential to recognize the market trends in order to prepare buyers and sellers on what to expect. This is a year-end report on residential sales inOakland CA.
People looking to buy in Oakland should not discount distressed properties which comprise the bigger share (54% in 2011) of the market.How does 2011 compare with 2010?Upward trend in distressed properties.
It appears that in 2011, we had slightly more properties sold.

But it also shows an upward trend in the number of distressed properties (short sales and foreclosures) inching from … (2 comments)

oakland real estate: December 2011 Holiday Season of Celebrations and Sharing in Oakland CA - 12/12/11 06:27 AM
I have enjoyed reading Alameda Magazine since its maiden issue. And when I was, in my mind, firmly entrenched in real estate, I thought that advertising in the magazine is a way to give back to the community by supporting a local business --- the local publication. Happily, they also produce Oakland Magazine. And as such, I am in that publication as well. One of the many things I like about both magazines is their comprehensive list of information on events, etc. Many are submitted to them by the event sponsors. But for the most part, the publishers are so wired … (2 comments)

oakland real estate: MARKET REPORT Oakland CA: Months Supply of Inventory is 3.1 Months. It's a seller's market! - 10/18/11 06:39 PM
OAKLAND  CA Market Report: Months’ supply of inventory down to 3.1 months
MainStreet newsletter headline:  Inventory: The Key to Understanding Your Local Housing Market
The article states that “A market with more than six months supply would usually qualify as a buyer's market, the realtor says. And a market with less than six months of supply is defined as a seller's market. 
Months’ Supply of Inventory
Looking at the entire market and concentrating only on detached single family homes, I was pleasantly surprised that Oakland has 3.1 months inventory of homes for sale. The days on … (5 comments)

oakland real estate: Months' Supply of Inventory --- down to just 2.7 months in Oakland CA - 09/27/11 08:50 PM
OAKLAND CA Month’s Supply of Inventory at 2.7 months in August 2011?
Taking a look at ALL of Oakland CA’s inventory of homes – detached single family homes, condos, townhouses, duets, etc --- I had to do a double take.  As of end of August, the month’s supply of inventory is down to 2.7 months, compared to 4.5 months in August 2010. But what’s notable is that with the exception of the fourth quarter 2010, it’s been a downward trend for a year.
The blue line represents average days on market.
Under contract per month
This chart shows an upward … (4 comments)

oakland real estate: Dawn of the shadow inventory: a significant upswing in Notices of Default filed in California - 09/13/11 09:13 PM
ForeclosureRadar's August 2011 report showed a significant upswing in the number of Notices of Default (NODs) filed in August, to its highest level in a year. The report states that the Notices of Default or Notice of Trustee Sale rose in nearly every state. This may have been driven by Bank of America where there was an overall increase of 116% in foreclosure starts (or NODs) in August.
According to Sean O'Toole, Founder and CEO of ForeclosureRadar.com, "Bank of America appears to be primarily responsible for the surge in foreclosure starts this month since their average time to foreclose has recently increased … (4 comments)

oakland real estate: PIEDMONT WALK of arts and crafts every third Thursday, Oakland CA - 09/12/11 09:20 PM
Oakland's Piedmont Avenue merchants are proud to present the beginning of a new tradition, every THIRD THURSDAY of each month --- ART WALK --- held from 6 to 9 pm. Stroll along Piedmont Avenues (Oakland CA) and meet local artists and crafters who sell their wares and art.
Date:   September 15, 2008
Time:  6:00 - 9:00 pm
Place: Piedmont Avenue, Oakland CA
Visit:  www.PiedmontAvenue.org
 And as a bonus, take a look and see the places and things you can enjoy in Oakland CA    

oakland real estate: East Bay Area CA --- has it bottomed out? - 09/11/11 05:35 PM
Headline in San Francisco Chronicle: Bay Area property tax decline seems to be ending.
According to the article "The beleaguered housing market may finally be bumping along the bottom, according to Bay Area county assessors, whose jobs rest on gauging the state of real estate.
After two years during which tax rolls in most of the nine Bay Area counties shrank, often by large margins, this year property tax rolls are fairly flat compared with last year, the assessors said. Admittedly, they're being compared with a lower base."
That's a mix of good and bad news.
The good news is that … (1 comments)

oakland real estate: Oakland/Piedmont CA Market Report as of Second Quarter 2011. Looks like a seller's market. - 09/04/11 09:07 AM
Zip code 94611 includes parts of Oakland and Piedmont CA considered to be among the most desirable in these areas. Here's the map according to MyZipCodeMap.com.
Market reports of what's happening in this zip code appear to be more intriguing when one tracks the movement over a three-year period of time.
And these reports will support the contention that real state truly is local. What you read/hear on the national news may not  necessarily reflect what's happening here.
Average days on market.
This is specially revealing and indicative of how desirable this area is. When the average … (3 comments)

oakland real estate: Why do short sale buyers back out after waiting for months for approval? - 06/15/11 10:51 AM
So close! Why, why, why back out when we're about to get short sale approval?
In spite of all the effort expended to explain to all parties what a short sale entails and how long it may take, it is not unusual to have buyers back out after waiting for so long for the short sale approval. WHY?
What could we have done to keep the buyer's commitment to the process and interest in the property outside of the requisite frequent updates and communications, and occasional glimpse into the market reports and trends?
One buyer had gone through the 45-day period … (3 comments)

oakland real estate: Alameda and Oakland Magazines --- fabulous handouts at open houses! - 03/10/11 07:24 PM
Wonderful as handouts during open houses!
For my open houses, I generally hand out local magazines to folks who want to know more about the city, And, it goes without saying that I capitalize on these giveaways by affixing my business information (sticker or business card). Another way to get my name out there.
And make no mistake: these magazines are fabulous resources for locals and guests alike.
So happy that there are two really good magazines to share: Alameda and Oakland Magazines.
Took time off for a leisurely lunch and read the latest issue of Alameda Magazine.
Love, love, love this … (7 comments)

Pacita Dimacali, Alameda/Contra Costa Counties CA (Alain Pinel) Rainmaker large

Pacita Dimacali

Alameda/Contra Costa Counties CA

Oakland, CA

More about me…

Alain Pinel

Address: 6211 La Salle Ave, Oakland, CA, 94611

Mobile: (510) 205-2992

Email Me





RSS 2.0 Feed for this blog