Comments on: Berkeley: New Releases As Well As A Rerun http://blog.redfin.com/sfbay/2007/12/berkeley_new_releases_as_well_as_a_rerun.html Redfin Bay Area Sweet Digs Tue, 07 Feb 2012 16:59:16 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Tunguska http://blog.redfin.com/sfbay/2007/12/berkeley_new_releases_as_well_as_a_rerun.html/comment-page-1#comment-2263 Tunguska Wed, 02 Jan 2008 20:00:44 +0000 http://blog.redfin.com/sfbay/2007/12/berkeley_new_releases_as_well_as_a_rerun.html#comment-2263 Good Luck Tracey! Not to sound like a real estate bubble head, but I read your post about putting an offer on a house and then backing out because of various reasons. This is big money! If it drops only 5 %, that comes straight out of your downpayment, with leverage! You also mentioned that you learned so much in the process. I think if you wait and watch you will learn even more and ultimately have a much better outcome. Your deadline could be changed maybe? Or you could *gasp* rent a nice house in the Elmwood for much less than the mortgage. This protects you from the downside of prices and allows for a larger downpayment once the credit cruch really starts going. If you feel the premium to own is important enough, then go for it. IMHO you will get more for you money in 2 years. And renting is really not a bad option. I sold my house in 2006. Now I happily rent a house for my family in a great neigborhood in Oakland, and will eventually buy THE house in a few years. We could do it now, but we would have much less disposable income. In the mean time I'm enjoying you blog, we are both Elmwoood-philes! Good Luck Tracey!

Not to sound like a real estate bubble head, but I read your post about putting an offer on a house and then backing out because of various reasons. This is big money! If it drops only 5 %, that comes straight out of your downpayment, with leverage! You also mentioned that you learned so much in the process. I think if you wait and watch you will learn even more and ultimately have a much better outcome.

Your deadline could be changed maybe? Or you could *gasp* rent a nice house in the Elmwood for much less than the mortgage. This protects you from the downside of prices and allows for a larger downpayment once the credit cruch really starts going.

If you feel the premium to own is important enough, then go for it. IMHO you will get more for you money in 2 years. And renting is really not a bad option. I sold my house in 2006. Now I happily rent a house for my family in a great neigborhood in Oakland, and will eventually buy THE house in a few years. We could do it now, but we would have much less disposable income.

In the mean time I’m enjoying you blog, we are both Elmwoood-philes!

]]> By: tracey.taylor http://blog.redfin.com/sfbay/2007/12/berkeley_new_releases_as_well_as_a_rerun.html/comment-page-1#comment-2260 tracey.taylor Wed, 02 Jan 2008 18:14:37 +0000 http://blog.redfin.com/sfbay/2007/12/berkeley_new_releases_as_well_as_a_rerun.html#comment-2260 Tunguska: I agree with you that ideally one should wait a while before buying. Prices will likely keep coming down this year. Some of us (me) have a deadline though, and so I am actively looking to buy a home now. Wish me luck! Tunguska: I agree with you that ideally one should wait a while before buying. Prices will likely keep coming down this year. Some of us (me) have a deadline though, and so I am actively looking to buy a home now. Wish me luck!

]]> By: Tunguska http://blog.redfin.com/sfbay/2007/12/berkeley_new_releases_as_well_as_a_rerun.html/comment-page-1#comment-2259 Tunguska Wed, 02 Jan 2008 17:40:58 +0000 http://blog.redfin.com/sfbay/2007/12/berkeley_new_releases_as_well_as_a_rerun.html#comment-2259 When I was there school was in session, although it wasn't a recess. The noise was not noticeable. The yard is not appealing at all. The house is on a cute little block where people take care of their homes. I would not be surprised to see a neighbor with a pool. All in all, I would wait a while before making any offers in this area. Although there are many people that want to live in the Elmwood, the market is undeniably softening. This trend will continue well into 2009. Winter 2009 may be a good time to start looking again, but even that may be early. When I was there school was in session, although it wasn’t a recess. The noise was not noticeable.

The yard is not appealing at all.

The house is on a cute little block where people take care of their homes. I would not be surprised to see a neighbor with a pool.

All in all, I would wait a while before making any offers in this area. Although there are many people that want to live in the Elmwood, the market is undeniably softening. This trend will continue well into 2009. Winter 2009 may be a good time to start looking again, but even that may be early.

]]> By: Tracey Taylor http://blog.redfin.com/sfbay/2007/12/berkeley_new_releases_as_well_as_a_rerun.html/comment-page-1#comment-2253 Tracey Taylor Tue, 01 Jan 2008 19:59:44 +0000 http://blog.redfin.com/sfbay/2007/12/berkeley_new_releases_as_well_as_a_rerun.html#comment-2253 Thanks for the input Tunguska. It looks as though the house has very little yard -- is that right? And it is opposite Willard Middle School which might mean there's a noise factor. (A close look at the aerial map shows the neighbor two doors down has a pool which is unusual for this area.) Thanks for the input Tunguska. It looks as though the house has very little yard — is that right? And it is opposite Willard Middle School which might mean there’s a noise factor. (A close look at the aerial map shows the neighbor two doors down has a pool which is unusual for this area.)

]]> By: Tunguska http://blog.redfin.com/sfbay/2007/12/berkeley_new_releases_as_well_as_a_rerun.html/comment-page-1#comment-2251 Tunguska Tue, 01 Jan 2008 08:57:57 +0000 http://blog.redfin.com/sfbay/2007/12/berkeley_new_releases_as_well_as_a_rerun.html#comment-2251 I looked at 2436 Stuart the first time it went around. There is a horrible slope towards the NE corner, no driveway, and it was a rental property at the time so the condition was poor. I saw it again after "renovation", not much improvement, just some new tile. I looked at 2436 Stuart the first time it went around. There is a horrible slope towards the NE corner, no driveway, and it was a rental property at the time so the condition was poor. I saw it again after “renovation”, not much improvement, just some new tile.

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