Berkeley: Nice To See Some Reasonable Looking Prices Again
Now that reports from the frontline of the property downturn are routinely making headline news, it is not surprising that open-house listings look more enticing for us potential buyers.
Scanning the lists, Berkeley home prices generally look more reasonable than they did a year ago and, while we may not be talking about outright bargains, a few new listings caught my attention this week for what looks like value for money, at least on paper:
2605 Ashby Avenue: This is a big house (above) listed as having 9+ rooms, 4++ beds and 2 baths. It looks like it has plenty of original features and some style and it’s in a great neighborhood. The big downside is that it is on a major, heavily trafficked road. Which may go some way to explaining the $850,000 price tag.
171 Hill Road: This unusually designed 3-story brown-shingle (above) is 12-sided no less! According the the realtor, it’s the first time it has come on the market. Distinctive architecture and great views for $975,000.
1312 Poe Street: This is a remodeled 2/1 garden condo (above) with common grounds in a cul-de-sac in West Berkeley. The setting looks inviting, there are granite countertops in the kitchen and the interiors appear to be in good condition. Price: $550,000.
sw said:
Sorry, affordability is still near or at record lows. It’ll be awhile before prices are “reasonable” again.
August 28, 2007 8:29 AM
tracey.taylor said:
You’re right that it’s a long process for prices to drop to “reasonable” levels. I do think though that here and there asking prices are lower than they would have been 12 months ago. Don’t you?
August 28, 2007 10:03 AM
sw said:
Yes, prices are generally lower now than they were a year ago. That should make it even easier for buyers to wait as there is no reason the trend will change in the near future. You would have to be just plain nuts to be buying right now (unless you are trading down) since you can rent anywhere in the bay area for 50% the cost of owning.
Best of luck to all and love the blog.
August 28, 2007 11:54 AM