The nice thing about writing The Perspective week after week (after week) is that I have accumulated a fair amount of real-time history and can easily access the sales patterns with respect to Piedmont’s unique marketplace. Wanting to compare the number of this year’s listings, with last year’s, I looked no further than my own newsletters (e-letters!) of February 2008 to comparison shop. As I chase these statistics, I realize we are on track for a robust Spring Market!

While many observers perceive that there is too much inventory on market, it just isn’t true. (In Stockton - yes. In Piedmont - No!) Last year, the Multiple Listing Service (MLS) reported 16 homes for sale in Piedmont, with an average list price of $1,928,375 and average days on market (DOM) reported at 46 days. This year, the MLS reports 18 new listings since the beginning of 2009, with an average list price of $1,816,726 and an average DOM of just 14 days!

This seems to indicate that aggressively priced homes quickly find buyers, while homes that are stalling need to adjust the list price downward in order to meet buyer demand!

While it’s true that recent bank upheavals, poor economic forecasts decreasing stock values and uncertain employment opportunities are all contributing to current buyer conservatism, the blunt truth is that the bulk of homes that are languishing, are simply overpriced for the market conditions - AS THEY EXIST! Which isn’t to say that there aren’t plenty of willing and able buyers about - there are. (They are even showing up in the POURING rain - and that’s commitment!)

With mortgage rates at historical all time lows and a shiny new Stimulus Package on its way, designed to promote and reward home ownership, ALL buyers continue to seek good values, regardless of where they fall on the spectrum. As new buyers move into the marketplace, the market will in turn, experience improved health and better stability, restoring faith and encouraging other buyers to move UP the ladder. As has always been true, first-time buyers drive the marketplace!

Sellers, are you listening? Are you attracting buyers or are you mired in last year’s values?

What’s Coming?

There’s a good deal of activity heading our way so grab a cup of coffee and let’s begin . . .

Scott Hill brings 950 Leo Way in Montclair to the market this Sunday. This charming Cape Cod home - custom built in 1993 - sits on a quiet wooded street and features 4bdrms/3bths, formal living room and dining room with French doors to a patio and level grass yard, master suite with beautifully update bathroom, 2-car garage, and ample natural light! List Price: $1,125,000. Open Sunday, March 1, 2-4:30. www.950Leo.com

Anne Feste brings a truly appealing 2004 Tudor home to the market this week at 9 Woodside Glen in the enchanting, secluded pocket neighborhood of Westminster. This sharp and sunny newer construction home, on a mostly level lot, features many modern amenities which include a spacious master suite on the main floor, formal living and dining rooms and gourmet kitchen opening on to a lush garden. With an inviting open floor plan and a friendly cul-de-sac location, this wonderful 4bdrm/2.5bth home is listed for $1,050,000. Open Sunday, March 1, 2-4:30 www.grubbco.com

Dana Cohen has just listed 10 Buckeye Avenue - an adorable Upper Rockridge Traditional, featuring 3bdrms/1.5bths, Bay views, open living and dining rooms with stone fireplace and wonderful gardens that incorporate patios and play area for easy outdoor entertaining. Only one block from the Village Market and close to schools, BART and shops, this wonderful home is listed for $715,000. Open Thursday, February 26 for Broker’s Tour from 10am-1pm and on Sunday, March 1, 2-4:30pm. www.10buckeye.com

Bebe McRae’s newest listing is at 6150 Broadway Terrace in Upper Rockridge. This stately 5bdrm/3bth expanded Traditional features a wonderful master suite, separate au-pair/guest suite, family/media room, updated kitchen opening onto park-like gardens and garage with work room and easy access to the home. List price: $1,550,000. Open Sunday, 2-4:30pm. www.grubbco.com

Now that your home from skiing, make sure you see my listing at 308 Pala Avenue, open this Sunday 2-4:30 and always, by appointment! This elegant Mediterranean features 4bdrms/3bths, formal living and dining rooms, sunny spacious kitchen, bonus media/family room down and extensively renovated rear garden in Central Piedmont. List price: $1,850,000. www.308Pala.com

Gene Boomer has just listed 1126 Harvard Road in Piedmont. This inviting 4bdrm/3.5bth Traditional has been thoughtfully renovated and expanded to meet your growing needs while maintaining distinctive period details from the 1920’s. Featuring formal living and dining rooms, updated kitchen with adjoining family room, rear deck, level play yard, hardwood floors and ornate fireplace, this spacious home is nestled in a peaceful and private setting, appointed with mature oak trees and wrapped by three vacant lots, owned by East Bay Municipal Water District. Close to schools, parks, recreational facilities and Lakeshore Shopping district and transportation, this elegant home also offers an excellent Piedmont location! List price: $1,449,000. www.grubbco.com

Carol Brown brings 168 Wildwood Avenue in Piedmont to the market on Sunday, March 8. This charming, all-level Mediterranean features 3bdrms/2bths and is centrally located near elementary, middle and high schools, playing fields and Grand Avenue restaurants, shops and transportation. Offering a sunny living room with craftsman fireplace, dining room that opens to an eat-in kitchen, master suite with bath, nearly level access to lovely back garden, large basement and two garages on a private back alley, this sweet home has been lovingly maintained and updated. List price: $985,000

Finally, if a “fixer” is in your future, don’t miss the new listing on Manor Drive that features terrific street presence and “good bones” (as we say in the buisness) but requires more than just cosmetics. Please give me a call to go over the inspections in more detail and to book an appointment!

(I haven’t mentioned every special home - just a few of my favorites! For a more complete guide, please feel free to email me at jgardner@grubbco.com or better yet, give me a call 510 326-0840!)

What’s Pending?

The uber-sophisticated contemporary on Marsh on the Piedmont side of Montclair, went pending very quickly. This unique home had tried to find a buyer last year with a competitive discount firm, but had no luck. This year, the motivated seller listed with The GRUBB Co. and met buyer demand. He sold in quick time and with more than one offer! List price: 1,295,000.

Discount firms tend to provide discount service! Examine your goals and decide how you want your home positioned in this very complicated marketplace!

While one prospective seller recently suggested that “homes sell themselves,” the example above proves the opposite is true. Now, more than ever, choose your agent and your brokerage carefully. This important decision may make the difference between selling or NOT selling your home!

What’s Happening?

The Stimulus Package is the talk of the town (ours and every other town as well) but don’t expect to see changes filter down for several weeks. Mortgage interest rates continue to shift daily, if not hourly.

While Buyers may be coming to the Sunday Open Homes willing and able, they frequently are surprised to discover that they aren’t quite as ready as they previously thought.

Too often buyers work backwards. They find the house they want first and then begin the process of qualifying for the loan, only to discover that changes in employment or credit have harpooned their ability to buy in this stricter environment!

Working with a reputable mortgage broker or a private banker from the beginning of your home buying process not only qualifies you up front, it also brings great clarity to the process about your purchasing power! www.lasallefinace.com

At a time when terms are every bit as important as price, good preparation increases your chances at the negotiation table!

What’s Fun!

Honigman Designs goes to the Oscars! Did you watch the Oscar ceremony on Sunday evening and happen to catch Amanda and Pete Doctor, of Pixar fame at the awards show?

It’s no surprise to anyone who adored this sci-fi animated masterpiece (like I did) that WALL-E won for Best Animated Feature, but the unexpected surprise was that jewelry designer, Amy Honigman-Tobe, was a winner in her own right as well. Pete’s wife, Amanda was adorned with an intricate sapphire and gold necklace and elegant moonstone and sapphire earrings which were both designed and created by Piedmont artist, Amy Honigman-Tobe!
Amy creates sophisticated pieces and currently sells her elegant designs through Pave, McMullen and Nathan & Co. Says Amy, “Custom pieces are my favorite as my customers get just the look they want.” Now how much more fun does it get than attending the Oscars in jewelry designed specifically for you?

Amy can be contacted at HonigmanDesigns@comcast.net. Stay tuned for her upcoming web-site as well.

Congratulations to Honigman Designs and to all the creative folks at Pixar for your well-deserved recognition and your showing at the Oscars!

The Piedmont Plug!

You wouldn’t think that Montclair Village needs another coffee shop, would you? Between Nellie’s, Peet’s and Starbuck’s, how much coffee can one village drink?

Here’s where you’d be wrong. The Metro Cafe & Bar has just opened its doors and they offer not only gourmet coffees and teas, but innovative sandwiches, salads, soups and desserts - as well as premium beer and wine! Now coffee (and coffee houses) just got a whole lot better!

The Metro Cafe & Bar is located at 2058 Mountain Boulevard and is open Monday-Friday 6am-9pm and Saturday and Sunday 7am-8pm and according to my boss, DJ Grubb, “They make the best tuna sandwich it town.” Enjoy and don’t forget your laptop. (There’s plenty of Internet access as well.)

See you next week!

THANKS FOR READING!

For more information about any of the properties or events listed above, please call me at (510) 339-0400 x264, or simply respond to this email. I’d love to share my real estate tips and my experience in the Piedmont community with you!

Feel free to visit my website at JulieGardner.com for more information as well.

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