Piedmont Avenue Open House 2-4:30

71 Ronada Avenue has a walkscore of 78.  

Located near Piedmont Avenue shops and restaurants, this home has charm, period details and light.
Open Sunday, October 4th, 2-4:30pm

Looking for a Deal? Make sure you are prepared with a mortgage pre-approval

Buyers are asking me whether a pre-approval is really necessary and what information they need to gather together to get pre-approved. For buyers ready to get into this active spring market the answer to the first question is Yes! Yes! Yes!

And to the second, the paperwork involved in getting a loan approval has grown, as the loan climate has tightened. It's not really more than a full doc loan ever was, but people that applied for their last mortgage in the early 2000's may have had the experienced that not as much was required. Don't take it personally!

Here's what you need:

· Copy of driver’s licenses.

· Last two pay-stubs.

· 2007 & 2008 W-2’s.

· 2007 & 2008 Federal tax returns with all schedules.

· Last two monthly statements, or the most recent quarterly statement, for your savings, brokerage, and retirement accounts. (Including all pages.)

First Time Homebuyers Tax Credit

Bringing the Dream of Homeownership Within Reach

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers.

Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream.

Who Qualifies?

First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.

To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?

The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Will the Credit Be?

The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:

The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.

The buyer's income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

Yes, some buyers may still be eligible for the credit.

The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $95,000 for singles and over $170,000 for couples are not eligible for the credit.

Will the Tax Credit Need to Be Repaid?

No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.

Association of Realtors~~Renting vs. Buying in 2009

According to research by the National Association of Realtors, 2009 might be the most affordable year to buy a home in decades. I am working with several buyers looking for homes in the $250,000 to $350,000 range and there are Berkeley and Bay Area homes to look at. They need some work, but buyers are realizing their long held ambitions of home ownership!



Open the PDF
rent_vs_buy_analysis_03-2009.pdf

Sunday Open Homes~~Berkeley and Oakland

For Sunday March 1st, 2009

I am at 6851 Aitken in Montclair, Oakland. It's supposed to be a torrential downpour, so I'm not sure who will visit, but I will be there from 2-4:30pm.

Happy house hunting in the rain!

Just for fun check out the Maybeck cottage at 1471 La Loma. This space was originally designed by Bernard Maybeck to house his Packard, back when La Loma was a country lane. Also up 100 and something steps is a cottage way up on Panoramic, above the UC Berkeley Stadium. Very interesting historically, but not much to live in!

Number 10 Buckeye in Upper Rockridge and 7030 Broadway Terrace are my picks of tour for this week!

Best,

Nicole

The Buyers Are Out in Rockridge!

Think the market has slowed down for the holidays?

Think again!
My listing at 51st was advertised for the Open House from 2-4:30 and the agent holding it open didn't get out of there until after 6:00pm!

The news about the possible first-time homebuyer mortgage rates of 4.5% is bringing out swarms of buyers. If you have been on the fence about listing your home, this could potentially change your thinking! Call to find out more about the program and for my list of qualified mortgage brokers!

Nicole

A Seamless Buying Transaction

It’s all about you!

Your home buying experience should be fun, joyful, and as stress-free as possible. I try to make your transaction feel seamless, from our first meeting, to the closing of your escrow. It is my job to support you in achieving your goals, without rushing you or making you feel pressed.

At the same time, if I think you are missing out on something, I will let you know in the most specific way possible, and arm you with comparables and statistics to help you make your decision. What’s next for you? I commit to listening and finding you the right home, at the right price for your budget, with the best possible terms.
Seamless Service

BuyersHandbook.pdf

3900 Piedmont Avenue, Prudential Office, Nicole Bailey

During the forth quarter of the year, it is natural to evaluate your progress and plan for 2009. One thing I’ve learned about this market is that agility and flexibility are how successful agents make it happen.

Newer agents that are making the most headway tend to be people that didn’t ride the wave of real estate through the high times and understand the entrepreneurial nature of the business.

3900 Piedmont Avenue Prudential is a boutique office with a small number of desks at a higher productivity level. We have room for a few serious minded agents who are ready to get to work.

Creative agents understand that there have to be new ways of doing business, including blogging, SEO technology, and REO strategies. As your coach and trainer, I am here to facilitate your success in the business. Join our office at 3900 Piedmont Avenue and launch yourself into 2009!



Nicole Bailey

391 51st Street--New Listing Open Saturday and Sunday!

391 51st Street, Oakland
www.391FiftyFirst.com

Visit this very sweet, and surprising craftsman this weekend!

Open House Saturday, August 30, from 1-5
Open House Sunday, August 31, from 1-5

Redwood Heights, Oakland "Just Sold!"

The East Bay, Oakland, Berkeley Real Estate Market is alive and kicking! www.3748Virden.com
Sold in 11 Days on the market! For information on selling your Oakland, Berkeley home in record time call me!

Nicole
510.593.7501

Oakland, CA Home Sellers

A Well Priced Listing is a Listing That Sells!

I just had my first open house with my new listing on Virden Avenue in the Redwood Heights neighborhood of Oakland. Of course it is much too early to know, but the sellers of this property did their homework and we had an open conversation about the market.

Even though the home is clean, clear and practically new, the sellers took the approach that the market is the market and priced according to recent sales and the trend of the neighborhood. I was busy from 1:00pm when I opened the home until 5:10pm when the last buyers left the property to call their agent and go home to think about it.

I have to hand it to the sellers because I think their strategy really worked. Make the property as attractive as possible and then price it as sharply as possible! For more information about Virden Avenue check out the property website!

www.3748Virden.com

Conservation is like Sunscreen

I've been thinking about Ecology in that way that we considered it in the 1970's when I was a kid. The word has a retro-tree hugging feel these days, but actually just means "the study of the environment."

When I think about Ecology though, I think about saving things for the future. In this way, I think of conservation in the same way I think about sunscreen. I am 43 years old, not ancient, but the number is not a "young" number. I have been using sunscreen regularly my entire life and specifically on my face every day since I was 25 or so. I have saved my skin for the future, my future. It hasn’t been a hardship on me not to "waste" my skin.

I look at environmental conservation the same way. I LOVE to swim in a clear, cold lake. When I was a kid we sailed up to Princess Louisa Inlet in Canada. There is a lake there that inspired my mom to skinny dip. I haven't been back, but I like to think it is still pristine. I hope it is.

We also sailed to the South Pacific. For a year, my family and me were in the Marquesas, the Tuamotus, Tahaiti, Moorea, and Bora Bora and finally Hawaii. We didn't have an outboard engine on our Avon dingy then. When we anchored out in the bay, we rowed to shore in every weather and sea condition.

We carried our own water in 25-gallon jugs and poured it into tanks on the boat. A few times during the trip we were able to use a hose at a dock, but mostly just us and the rowing. When I think about water and wasting it, I have to consider whether I would want to row it against an incoming tide in a dingy with five people and 100 gallons of water. It just makes sense to save it~

Look for my new listing coming soon!

www.3748virden.com

Selling Your Oakland/Berkeley Home--Tip #1

Seller Error #1:

Not Taking Seriously "What Buyer's Look For"

When buyers look at a property, they are looking for a home, NOT a house. Emotions play a vital role in a buyer’s decision-making process. They look for a "feeling," not a two bedroom home. If you want to sell your home, give the buyer that feeling that they are “home.”

Sensory factors that impact a buyer's decisions are smells, color, clutter, and personal effects.

The home you live in is completely different from the one you sell.
But it’s easier than you think!

Here are a few tried and true tips for showcasing your home for sale:

1. The first impression is the decision maker for a buyer. Be sure to work with a Realtor that knows what Buyer's are looking for. Look at other homes on the market. How does your's compare? What is the landscaping like? Are there stains in the driveway? Is it cluttered? Remember, the buyer is seeking the appearance of a well-maintained property. Give it to them!

2. How is your exterior paint and trim, even the color - is it chipping, fading, out of style for two decades? Does the roof look healthy? What is the first thing you notice as you approach your home?

3. Tour your own home. Concentrate on the impression of your senses: smell, touch, sight, and hearing. Walk through each and every room while focusing on these senses. Be sure to keep an eye and nose ready for flooring and carpet stains and odors.

4. De-Clutter. If it’s not essential, put it away. Pack up the extras. Your home should appear fresh and orderly. The buyer needs to imagine moving in. The garage also needs to be clean and neat.

5. Hire a professional cleaning company to clean your home. You’ll be assured a faster sale, and a better selling price for your home.

6. Pets can often be the anti-sale. Make sure that they cannot be seen or smelled by the buyer. Take the pet out of the house when the buyer is there, and take extra care to remove the pet’s odor. Remember, you’re accustomed to it, but it is very present to the buyer who is nitpicking for their future home.

7. A bright, well-lit room is a must for buyers. Open all blinds and curtains and turn on all lights.

8. Turn off all appliances and noise-makers such as the television, the radio, and anything that will distract the buyer’s attention from your home.

Oakland Mid-Century LOVE!

It's so fun to come across relatively untouched Mid-Century Modern homes, and there are just not THAT many in Oakland Real Estate to begin with. There are a few gem neighborhoods where the homes have had only one or two owners and you can find all the cool fixtures and design details that a true modernist looks for.

I've got some fun pix of this home on Rhoda. The weather was cloudy so they didn't come out quite as nice as they could have...but you get the idea!

Montclair Rental Home, Art at the Round House

Oakland Berkeley Market

Consider the Market

One adage that holds true despite real estate market cycle ups-and-downs is that it’s always a good time to buy if you’re ready for homeownership, are committed to the long-term investment and you can afford it. For buyers who are ready today, now is an excellent time to buy a home. Today home buyers are experiencing conditions for the best buyer’s market since the mid 1990s. Interest rates remain at historical lows, there is plenty of traditional mortgage money available, there’s a lot of inventory, sellers are motivated and home prices have dropped. Despite the great home-buying climate, some potential buyers remain on the fence, confused by the onslaught of negative media attention paid to the real estate industry.

• Mortgage loan interest rates are low. The adage that interest rates have nowhere to go but up remains accurate when looking at interest rates for mortgages over the past few years. In 1999, for example, eight percent was considered a low rate and in the late ‘80s, mortgage interest rates were in the double-digits.

• There is plenty of conventional mortgage loan money on the market. The subprime mess that has brought many investors to their knees is completely unrelated to the typical buyer who seeks a traditional, fixed-rate mortgage product. As long as this buyer has a job, good credit and a down payment, he could get a mortgage loan that’s probably in the low six percent range. A home buyer packing a pre-approved mortgage loan has sellers eating out of his hand right now.

• Inventory is high. Generally, the days of bidding wars are over. Home buyers today can spend their time looking at houses without having to worry about whether they might lose the deal if they failed to act immediately. The wide range of inventory also heats up the competition among sellers.

• Motivated Sellers. The market for buyers is so good right now that most for-sale homes are on the market because they must sell. Motivated sellers may not be the happiest lot to buy from, but they are willing to consider all types of concessions in their bid to win the buyer.

• Home prices have dropped. Home price appreciation over the years was quick and substantial – pricing a lot of buyers out of the market. Potential buyers should welcome lower prices offered today. For the first time, the National Association of Realtors reported that the national median home price dropped. This news has scared some buyers but a closer look at the numbers shows that the drop is miniscule compared with the unprecedented home price appreciation we’ve seen over the past 10 years. And, there is no national median – all real estate markets are local. Take a closer look at the numbers using the following real example:

In December 1999, a house in an East Bay suburb sold for $200k. The entire balance was financed using a 30-year fixed-rate loan with an eight percent rate. The monthly payment was about $1,200. The same house sold six years later for $525k. The buyer financed the entire balance at six percent interest and his monthly payment is about $3,100. Today Zestimate values the same at house at $450k. That’s a big drop for the homeowner, but the decline doesn’t impact monthly costs much when you look at the big picture.

Suppose you bought the house today at $450k using a 30-year loan fixed at six percent. Your monthly mortgage would be about $2,700. Suppose over the next two years interest rates rise to eight percent and your home value plunges to $350k. At eight percent, the monthly payment is $2,600. The monthly price difference is nominal and a $100,000 value drop in the East Bay suburb is considered unlikely.

Now is definitely the time to buy. What are you waiting for?

Staging Your Rockridge Home

What is staging anyway? Staging is part Art and part Science. The trick is to place enough furniture and accessories in the home to give the buyer the idea of a lived in home without filling it up with kitsch or making it too personal.

I like to form a relationship with a stager that is symbiotic. She knows what I will want to do with the house based on the list price, neighborhood and condition of the property. Sometimes she will request hard scape changes by contractors, but most of the time she will help select paint colors and smaller changes like removing old blinds and funky bathroom hardware.

The price of staging is based on how much furniture, how many rooms are staged, fresh flowers and plants or silk, and number of visits the stager needs to make to the property to advise the seller or REALTOR.

I have been using Bonnie Pearson Designs, located in Oakland, she warehouses her own goods and has ample space to create floral and plant arrangements for the home. At my current Rockridge listing, a client walked into the home today and said, "The home even smells beautiful!"

Contact Bonnie Pearson and Lisa Downes by email at bonnie@bonniepearsondesign.com.

Rockridge Brown Shingle

Classic Rockridge Home!

Visit this wonderful 1908 Brown Shingle, full of life and history in the heart of Rockridge! This home is blocks from BART, Market Hall and Peaberry’s Coffee and Tea. Your easy San Francisco commute will have you home and enjoying your Rockridge lifestyle in less than twenty minutes.

This extraordinary property has four upstairs bedrooms, and a reading area plus a covered sleeping porch that can be used as a playroom or office. There is a formal entryway, leading to a large living room and formal dining room, complete with the original, intact, built in cabinetry and art glass. From there, step into a library with original built in cabinetry and windows out to the lush backyard.

All original Craftsman details have been maintained and are in quite good condition. A wonderful feature is the kitchen opening out to the large back yard, providing and privacy and a wonderful spot to entertain.

Located on almost 14,000 square feet and close to transportation hubs and freeways, it is a primo location for whatever you can imagine!

We will be on the Market mid-August, 2007. For additional details about the home, call Rockridge Agent, Nicole Bailey 510.593.7501.

5905claremont.com

Classic Claremont Brown Shingle

Coming Soon!

This Classic Rockridge neighborhood Brown Shingle will be on the market the last week in August, 2007. Nearly 2,700 square feet of living space and a lot size of almost 14,000 square feet. You will want to make this home your own. There is a cabana and the original carriage house in the back yard as well as mature fruit trees and redwoods.

Join us for our Rockridge Neighborhood open house Thursday, August 23rd from 5:00pm to 7:00pm.

For additional information about my new listings call Nicole Bailey, 510.593.7501 or email to nicole@baileyhomegroup.com.