Along with location location location, think price price price
The story behind “homes sold” data for Berkeley is becoming a familiar one as asking prices are reduced before a house eventually closes.
Thus, 60 Bonnie Lane, a 3/1.5 “English-style” home with views in north Berkeley (above), sold for its reduced price of $765,000 after going on the market for $799,000. [4% under asking].
And 2808 Woolsey Street in The Elmwood, a 1920s 4/2.75 traditional with cottage (above) went up for sale in September for $1,375,000. It was reduced to $1,250,000 the following month and sold for $1,185,000. [14% under asking]
But there’s always one that bucks the trend, isnt’ there, giving hope to all the sellers out there. 1042 Miller Avenue (above), in the north Berkeley hills, a 3+/3 Henry Miller designed mid-mod “classic” began with a $725,000 asking price and sold for 10% more at $800,000. [9% above asking]
At some point we will all work out what the market will withstand price-wise. Although it won’t be easy in such tumultuous times. Real-estate agents with whom I have spoken over the past few weeks are as uncertain as the rest of us as to precisely what the new year will bring. One thing is sure: pricing right is more important than ever.
