Jake Gleason

Your Real Estate Expert for Berkeley and Beyond

  • Deep Market Knowledge
  • Analytical, Strategic, Creative
  • Honest, Adept, Direct

“Marilyn is exceptional. Her knowledge base, enthusiasm for her job, professional ethics, organization, sensitivity to our aesthetic requirements, loyalty and gentle perseverance set her apart.”

-- Bill and Carol Seidel

Marilyn Garcia, PhD

Marilyn Garcia, PhD Broker Associate, Realtor® CA DRE LICENSE #01355514

The Grubb Company 1656 Shattuck Avenue Berkeley, CA 94709

Direct: (510) 390-5406

THE OUTLOOK: North Berkeley, Spring 2018 wrap-up

I was excited to crunch the numbers for this spring season, with two questions in mind. First, there has been a lot of talk lately about the relatively high level of inventory on the market, so I wanted to see how the number of active listings compared to past springs.  It turns out that there were in fact more active listings this spring (47) than in the past several years (36 in spring 2017, 35 in 2016, and 33 in 2015).  This pattern — more homes for sale as the market has been rising — is not surprising, as more [...]

Home Project Website

https://www.homewyse.com/ I saw a mention of the website above in a Money magazine article about home improvement projects, so I checked it out and thought it was worth passing along.  It's a price calculator for home renovation and maintenance projects.  You select a project, make some choices about the scope of the work, the quality of the materials and the type of contractor, enter your zip code, and they give you a rough estimated range for the cost.  I found this really interesting.  I cannot vouch for the accuracy of their numbers, but there is information about their methodology and sources on [...]

By |July 1st, 2018|Coldwell Banker, Remodeling and Repairs, Resources|

REAL ESTATE ANSWERS: What can I do to make a dark room brighter?

Some people love a cozy, darker space, but for others (and for getting top dollar in a sale), bright, airy spaces are optimal.  How can you get this look in an existing home?  The obvious answer is with remodeling—adding windows or skylights to let in more natural light.  There are many ways to brighten a room, though, that don’t involve calling a contractor and spending lots of money.  Here are some suggestions: Start by making the most of the windows you have. If it’s been a while since the windows were washed (note to self…), having them cleaned can make [...]

By |July 1st, 2018|Interiors, Remodeling and Repairs|

THE OUTLOOK: North Berkeley, Spring 2018 wrap-up

I was excited to crunch the numbers for this spring season, with two questions in mind.

First, there has been a lot of talk lately about the relatively high level of inventory on the market, so I wanted to see how the number of active listings compared to past springs.  It turns out that there were in fact more active listings this spring (47) than in the past several years (36 in spring 2017, 35 in 2016, and 33 in 2015).  This pattern — more homes for sale as the market has been rising — is not surprising, as more sellers are inspired to take advantage of higher prices. A lot of the spring listings came on the market in May, so many will close escrow in June, and the outcome for those will be in the summer statistics.

The other thing I wondered about was how much the increase in interest rates has affected prices so far.  Interest rates on home loans now are about a full percentage point higher than they were last year.  We’re looking at rates in the high 4% range (4.75%+) now for a typical home loan, compared to the high 3% range last year.  A buyer who last year was approved for a maximum purchase of $1.3M (the current median price) at a 3.75% interest rate with a 20% down payment is now not going to be able to borrow as much (if everything else is the same).  At an interest rate of 4.75%, the maximum loan amount that corresponds to the monthly payment that same buyer qualified for is now $117,000 less.  On the positive side, jumbo loans (above $679,650) have come down in cost relative to conventional loans, and in some cases, actually have lower interest rates than smaller loans.

The increase in interest rates hasn’t had a negative effect on prices, which have been steady. During Spring 2018, 24 properties sold, in an average of only 16 days on the market.  The median sold price in North Berkeley was $1,300,000, which is up 1% from last spring, and the average sold price per square foot was $849, about the same as a year ago.

88% of the North Berkeley sales this spring went over list price, and on average, those that went over sold for 22% above list price.

We’re starting the summer with more inventory and higher interest rates, so I’m expecting the market to be more balanced between buyers and sellers.  This is good news for buyers, and not bad for sellers either, as it will help keep buyers in the market over time.

By |July 10th, 2018|Categories: Coldwell Banker, Data, Housing Market, North Berkeley, Real Estate Trends|Tags: , , |

Home Project Website

https://www.homewyse.com/
I saw a mention of the website above in a Money magazine article about home improvement projects, so I checked it out and thought it was worth passing along.  It’s a price calculator for home renovation and maintenance projects.  You select a project, make some choices about the scope of the work, the quality of the materials and the type of contractor, enter your zip code, and they give you a rough estimated range for the cost.  I found this really interesting.  I cannot vouch for the accuracy of their numbers, but there is information about their methodology and sources on the site (under the Reference menu at the top).  Whether or not their numbers are very accurate, it could be useful in getting a sense of the factors that determine the cost of a particular project that you’re contemplating.

By |July 1st, 2018|Categories: Coldwell Banker, Remodeling and Repairs, Resources|Tags: , , |

REAL ESTATE ANSWERS: What can I do to make a dark room brighter?

Some people love a cozy, darker space, but for others (and for getting top dollar in a sale), bright, airy spaces are optimal.  How can you get this look in an existing home?  The obvious answer is with remodeling—adding windows or skylights to let in more natural light.  There are many ways to brighten a room, though, that don’t involve calling a contractor and spending lots of money.  Here are some suggestions:

Start by making the most of the windows you have. If it’s been a while since the windows were washed (note to self…), having them cleaned can make a big difference. Next, think about removing or lightening your window coverings.  If you need some coverage for privacy, consider something sheer that will still let in light. Also consider whether you can get the privacy you need by only covering a portion (usually the lower portion) of the window.  Top-down blinds, half curtains with the rod in the middle of the window rather than above it, or a frosted window film directly on the glass are all ways to block a portion of the window, while letting light in through the rest.

Hanging the curtain rod well above a window can make it seem bigger.  Also, be sure the rod is wide enough that the curtains, when open, are not blocking the window.  Move tall, bulky pieces of furniture away from windows, so they don’t cast shadows and block natural light.

Next, think about lightening the colors in the room.  Choose light-colored or white paint for walls, and white paint for ceilings.  If you have dark floors, consider light-colored area rugs.  You don’t have to go all white throughout the room though. If you love color, add it with furniture, art and accessories. Using some dark accents will add depth to the décor.

Using mirrors is an old, but very effective, trick.  I wouldn’t recommend mirrored wall or other surfaces (it would add light, but that look feels quite dated), but an oversized framed mirror, hung or propped up against the wall, especially across from windows, is a great look that really opens up a room.

Finally, adding lights, or choosing different lights, might be the perfect last step.  Choose brighter bulbs for your existing fixtures if they can safely use them, consider if a lighter lampshade is appropriate, or add fixtures that bounce light across your (nice white!) ceiling.  Pay attention to the color temperature of the light bulbs you use.  I personally find the light from bulbs that have a color temperature around 3000K (this is like the light from a halogen bulb) to be bright and cheery, without being too cold.  Stay away from bulbs marked “daylight” — that sounds like nice natural light, but it actually is a very cold blue light that feels very industrial compared to what we are accustomed to in a home setting.

By |July 1st, 2018|Categories: Interiors, Remodeling and Repairs|Tags: , , , |

Your Real Estate Expert for Berkeley and Beyond

  • Deep Market Knowledge
  • Analytical, Strategic, Creative
  • Honest, Adept, Direct

“Marilyn is exceptional. Her knowledge base, enthusiasm for her job, professional ethics, organization, sensitivity to our aesthetic requirements, loyalty and gentle perseverance set her apart.”

-- Bill and Carol Seidel

Marilyn Garcia, PhD

Marilyn Garcia, PhD Broker Associate, Realtor® CA DRE LICENSE #01355514

The Grubb Company 1656 Shattuck Avenue Berkeley, CA 94709

Direct: (510) 390-5406

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