The “Close to Coffee” Revolution in Real Estate

By
Real Estate Agent with McGuire Real Estate

The “Close to Coffee” Revolution in Real Estate Time was when a prestige neighborhood in the Berkeley or Oakland hills was the destination of choice for people looking for a house.  Well, get out of your car and put on your walking shoes, because now the determining factor is becoming how “close to coffee” you are.  Or to put it another way, what’s your “Walk Score"
 
I was working with a young couple determined to buy their first house in Berkeley.  They have unilaterally eschewed the “Hills” as being too far away from everything.  And we are focused on homes within 10 blocks of coffee.  That would be the “flats” or bungalow neighborhoods of Berkeley, where houses and lots are smaller, neighbors ... and coffee are closer.  (That translates into Walk Scores of 80’s and 90’s versus 40’s for the Berkeley Hills.)  I’ll bet Alfred Peet never knew he was starting a real estate revolution when he started the coffee revolution. 

Actually, my clients are not alone.  In fact, we bid on a house in the Elmwood area, close to coffee, shops and restaurants ... and so did six others.  The home went about $150,000 over asking while similar sized houses in the Berkeley Hills, priced $300,000 less, are languishing.

It turns out being connected -- not just electronically, but physically -- is all important to this generation of Buyers – the Millenial’s and GEN X’s in their 20’s and 30’s.  They would rather have a more modest bungalow than an expansive home with a view ... as long as they are close to coffee.  In this day and age, coffee ... not the street you live on... determines how well connected you are.  And what price your house will sell for.

If you’d like to see what houses are for sale in the neighborhoods of Berkeley and Oakland, just give me a call:  510-847-2409. 

Barbara Reynolds, your East Bay real estate specialist

Posted by

McGuire Real Estate

Leading Real Estate Companies of the World

Barbara Reynolds, MacGuire Real Estate, East Bay Real Estate Specialists

Real Estate Blog Directory

 

Comments (2)

Jeff Jensen
The Federal Savings Bank/Lending in 50 states - Greenwich, CT

That is an interesting way to assess one's housing needs.

Oct 18, 2011 09:03 AM
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale TahoeLauraRealEstate.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Great post.  It's always interesting to see what the current trends are, and how they've changed with time.  Enjoyed how well you know your neighborhoods and the profile of those buyers.  Thanks for sharing.

Oct 18, 2011 09:35 AM