Dana Cohen Dana Cohen Logo
dcohen@grubbco.com
July 1, 2015 
Quarterly Real Estate Update

 


 
 
 315 Blair Avenue     
Piedmont
Just Sold
Represented the Buyers
Originally Offered at $3,100,000

    
1906 Hoover Avenue
Oakmore

Just Sold
Represented the Sellers, 8 Offers
Originally Offered at $878,000

110 Alta Avenue
Piedmont
Represented the Buyers
Originally Offered at $1,599,000

  

4195 Montgomery Street     
Piedmont Avenue
Just Sold 

Represented the Sellers; 6 Offers     

Originally Offered at $885,000      


  

The New Normal in Landscaping  

  

With summer upon us, some would-be home buyers seem to be taking a breath and are being more selective, particularly at the higher end.  This will be welcome news to those who have been outbid during the spring and persistent enough to continue their process over the days and weeks ahead.


 

Summer is also a great time to think about the condition of your landscaping.  As the drought continues to take its toll on our lawns and gardens, many of us find ourselves spending more time in the "drought tolerant" section of local nurseries.  Faced with the double threat of continued dry weather and the increasingly voracious appetite of deer coming further into the city searching for food, landscaping requires a bit of new thinking.  And for those of you who may be considering the sale of a home in the near future, the historically important "level lawn for play" is losing its appeal to a "water wise garden".


 

I'll be the first to admit that I've always been a big fan of lush flowering landscapes and sprawling green lawns. Yet, in the last few months, I have been quite surprised by the beauty and simplicity of a well designed garden of succulents, mulched borders and pebbled paths. If you find yourself in the mood for a fun gardening field trip, try visiting American Soil & Stone or Acapulco Rock & Soil, a few blocks from each other near the Richmond Costco. It may spark your imagination for ways to transform your brown lawn into something interesting and beautiful.


 

Before making any changes, check out the rebates of up to $2,500 that are available from East Bay Municipal Utility District for lawn conversions and irrigation upgrades (www.ebmud.com/watersmart ). I am often asked about these from home sellers who want to spruce up their yards prior to a sale.  Unfortunately, by then, it is too late, as EBMUD has a somewhat lengthy process to receive the rebates, and they are only offered as credits against the owner's future water bills.  If you plan to enjoy your home in the years ahead, it may well be worth considering.


 

Have a restful and enjoyable summer!

 

Local Market Activity*548 homes were sold during the quarter ended June 30, 2015 compared to the 546 homes sold in the same period last year. The median price jumped 12% to $997,500 up from $892,500 in the same period last year. Properties sold in 16 days on average, faster than the 19 days in the same period last year as demand continued to far exceed supply.  At the date of this report, there were  183 homes available for sale, up from the 142 homes at the time of my last quarterly update.  Out of my 13 sales during the quarter, my average listing sold with 5 offers in 10 days at 31% over the list price.

 

  

*detached homes over $450,000 in Albany, certain neighborhoods in Berkeley, El Cerrito, Kensington, Piedmont and the hill areas of Oakland

  

Best ,

Signature

 

Dana Cohen
The Grubb Company

CalBRE# 01317652