Comments on: Berkeley: Home Sales Are Picking Up — Better Late Than Never

By: tracey.taylor

tracey.taylor — Fri, 11 Apr 2008 18:58:07 +0000

SurveyKid: Great thinking. Goes to show that there are ways and means of keeping one step ahead of the game!

By: SurveyKid

SurveyKid — Fri, 11 Apr 2008 18:06:48 +0000

Something fun to watch on my Redfin Favorites list, is to see all the pulled listings come back on months later, at a lower price. I never remove the listings from my Favorites. I just let them go blank. But now that Spring has arrived: here they come. In Boston, in San Diego, in SF Bay.

–The Kid

By: Tracey Taylor

Tracey Taylor — Wed, 09 Apr 2008 23:11:26 +0000

Catsjellicle: I am furious on your behalf. What a way for a homeowner to play the market. I hope it backfires on them and I’m sorry your hopes were raised only to be so cruelly dashed.

Having said that I agree with Billy that you’re well out of it in terms of doing business with people like that — and I agree with Toady that you’ll be back on your bike in no time.

In fact it sounds like you already are. Panoramic looks nice (I was up there on a hike this morning and it’s a glorious area) and there will be a flurry of new listings coming onto the market over the next few weeks. Good luck and keep us posted!

By: Billy

Billy — Wed, 09 Apr 2008 21:32:17 +0000

No shame in renting. We are renting in SF and want to move to North Berkeley, and after looking at prices have decided that we will move over and rent before we buy. Renting comes with its own hassles, but right now it just seems like a safer, better bet. One thing I am sure of, there is not much appreciation that can be expected over the next 5 years. You may not see the declines that many have predicted (although that is still very possible), but there is no chance of real appreciation. Toady is right about the time horizon, unless this is a move you are going to make for 10+ years, then you are not missing out on the “investment” aspect of owning.

I beat myself up on this daily, but patience is a virtue and will eventually be rewarded.

By: catsjellicle

catsjellicle — Wed, 09 Apr 2008 21:01:22 +0000

to toady: i just looked at the 545k, panoramic way listing. it certainly looks interesting..i wonder if its 2 bath or 1 bath..the listing says both. we will certainly be looking into it.

thanks!! i look at the panoramic way listing and i am already feeling hopeful. house lust..what can i say? isnt it crazy how we are programmed to keep on looking for ‘home’?

and many thanks to everyone else who said all the kind and encouraging words! not so blue anymore..:)

By: catsjellicle

catsjellicle — Wed, 09 Apr 2008 20:18:41 +0000

thanks…i suppose this is a lesson for me when i argued with tracey a while back that bidding wars wont occur in this market anymore.

i am not going to mention the actual address of the property. the way i see it, someone out there probably can afford to overbid for that house. and if they get it, good for them.

i am just a little upset about the way this system works. it beggars belief.

By: Toady

Toady — Wed, 09 Apr 2008 20:07:33 +0000

Personally, I would wait. But if you’re looking for a home that you can live in for the next 10-15 years, there are deals to be had in your price range in Berkeley. And there will be lots more over the next month.

Don’t despair. As a buyer with good credit and capital (I have to assume), you’re in the driver’s seat. If you have a good agent, you’ll be out looking at more houses tomorrow.

And sometime in July, when you see 1946 Marin on the sold homes list at $749K, you’ll look back on this and laugh.

By: catsjellicle

catsjellicle — Wed, 09 Apr 2008 20:00:00 +0000

at this point, i am regretting our decision to give up our apartment lease. i am wondering if renting IS better than owning afterall. i can understand a reasonable counteroffer. i still cant wrap my mind around the expected 50k bidding war and its not even a million dollar property. the neighbourhood seems like comfortably middle class and the property isnt fablously remodeled or anything.

if sellers expect a 50k bidding war in this market, i suppose its just not worth it for us.

By: Toady

Toady — Wed, 09 Apr 2008 19:58:05 +0000

Still lots of pretty unreasonable expectations from sellers in Berkeley. Nobody wants to believe they missed the free money train. I would be pretty irritated, especially when what it comes down to is a mere 6% difference. Greed.

But it is their loss. As David pointed out, increasing a list price in this market seems like a very bad idea. And you can take your $800K and buy one of any number of very nice homes coming on the market. Did you see 545 Panoramic? Just relisted at $799K after not selling for mid-800s last fall.

By: catsjellicle

catsjellicle — Wed, 09 Apr 2008 19:52:00 +0000

billy, no counter offer. before we submitted the offer, we decided that we were ready to examine and consider a counter offer if it came up.

and no, i wouldnt go back to do business with these folks.