We have been getting numerous calls from sellers in the greater Oakland, Berkeley and East Bay market area telling us that they are considering the sale of their home but are wondering if now is a good time to sell with current market conditions favoring the buyer at this time. We have been highly focused on this issue for several months now and do our best to always communicate with industry leaders both locally and nationally to help us better understand the broader implications of this East Bay market change. We also believe It is our responsibility to make sure that we don't suggest strategies that are short term reactionary responses to local market changes based on worry or fear. We recently had a lengthy conversation with one of the top local East Bay real estate appraisers who is fully versed on market activity in Oakland, Piedmont, Berkeley, Albany, Kensington, El Cerrito, Alameda as well as many other near by communities. In a nut shell when we asked him what he saw in the market place he responded by saying that "the less expensive the property was, the harder it was to sell." He went on to say that properties in the upper end neighborhoods approaching the million dollar range or greater were still selling with shorter market times and often selling in multiple offers and for over asking. This phenomenon is also continuing in the hot neighborhoods around solid and fun retail streets. Upper Rockridge, Trestle Glen, Crocker Highlands, Piedmont, Berkeley Hills and Alameda still have a market that favors sellers when the home is marketed and priced correctly. One program that we are exclusively offering to all of our buyers who make offers on our listings is a buyers protection plan aimed at easing the fears of buyers and helping them pull the trigger on a home purchase. With this program, if the buyer is not 100% satisfied with the purchase of their home in the first 18 months, we offer to buy it back or sell it for free 'BUYERS PROTECTION PLAN' Regarding the question of when is a good time to sell is, our response is this, if you plan on selling one way or another in the next five years then we believe you should sell now. The last down real estate cycle lasted approximately seven years with the following pattern: The first three years were market decline where homes continued to loose value, the next three years the market was basically flat and the general public had a distaste for real estate and the last year showed a mild pick-up in the market signaling the change toward a sellers market again. We are currently in the second year of this cycle so if you do not want to sell now you should be prepared for a possible continued loss in equity and understand your options should the market prophecies of the last down cycle repeat themselves. Things to understand are as follows; How much equity do you have in the property and can you sell without taking an actual loss? Do you have a pre-payment penalty attached to your loan and if so when does it expire? Do you own a home in one of the still hot neighborhoods or are you in one of the less fortunate. If you would like more information regarding these questions, thoughts as well as other real estate tips and support click this link and we are happy to help! Great Real Estate Information!

As always - Thanks for reading and may you have a prosperous real estate experience!

Dave and Carla Higgins
(888) 627-4399
info@DaveAndCarla.com
http://www.daveandcarla.com/
http://www.oaklandhomefinder.com/

Keller Williams Realty

Labels: Berkeley, East Bay Oakland, Piedmont Alameda, Real Estate, Safe Neighborhoods