Your Real Estate Expert for Berkeley and Beyond
“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
Broker Associate, Realtor®
DRE# 02014153
District Homes
1758 Solano Ave.
Berkeley, CA 94707
Direct:
(510) 390-5406
THE OUTLOOK: North Berkeley & the Berkeley Hills, Q1 2026 results
THE OUTLOOK: Berkeley Real Estate Market Update, Q1 (January - March) 2026 Limited inventory was the defining feature of the Berkeley market in the first quarter of 2026. North Berkeley The supply of homes for sale was low across Berkeley, but it was especially tight in North Berkeley. There were only 28 homes available during the first three months of the year (Q1), about one-third fewer than at the same time in 2025. With so few homes to choose from, competition between buyers was intense, with more offers than we’ve seen in the last several years. Median sold price: $1,600,000 [...]
THE BERKELEY PIER
THE BERKELEY PIER I've long been fascinated by the Berkeley Pier, which extends far into the Bay at the foot of University Avenue. Once open for walking and fishing, it has been closed to the public since 2015. According to City documents, the pier was built in 1926 by the Golden Gate Ferry Company to serve an auto ferry to San Francisco. At its peak, it began near the current I-80 on-ramp at University Avenue, and stretched about 3.5 miles (!), almost to Treasure Island. After the Bay Bridge opened in 1935, the car ferry was no longer needed, and [...]
REAL ESTATE ANSWERS: Should I replace my gas water heater, or switch to a heat pump version?
I need a new water heater. Should I replace my gas unit, or switch to a heat pump water heater? If you are looking for the simplest, lowest cost replacement today, sticking with gas is still a viable option (for now!). But there are a number of reasons to seriously consider the heat pump option. Gas appliances burn fuel inside the home, and in the process produce nitrogen oxides (NOx). These are linked to respiratory irritation and asthma, and they also contribute to smog. That smog connection is why the Bay Area Air Quality Management District, or BAAQMD, has adopted [...]
THE OUTLOOK: North Berkeley & the Berkeley Hills, Q4 and 2025 (annual) results
THE OUTLOOK: Berkeley Real Estate Market Update, Q4 and full-year 2025 results The real estate market in Berkeley held up well in 2025, mostly because Berkeley continues to be in great demand, but also thanks to a slight downward trend in interest rates. Rates started 2025 at around 7%, and ended the year in the low 6% range. This shift helped bring some renewed energy into the market, particularly in the second half of the year. --- North Berkeley For 2025, the median sold price in North Berkeley was $1,600,000, down 9% from 2024. However, that drop reflects a change [...]
THE OUTLOOK: North Berkeley & the Berkeley Hills, Summer (Q3) 2025 results
THE OUTLOOK: North Berkeley & the Berkeley Hills, with results from Summer (Q3) 2025. How is the Real Estate Market Doing? The current economic and political climates, combined with interest rates in the mid-6% range (even after the Fed’s September rate cut), continue to weigh on buyer confidence. The good news, though, is that Berkeley real estate remains strong—and even gained ground in the third quarter. Both North Berkeley and the Berkeley hills posted solid results, reflecting continued demand despite broader uncertainty. *** North Berkeley In North Berkeley, the median sold price in Q3 2025 was $1,575,000—up 7% from last [...]
Street Names: SHATTUCK AVENUE
Street Names: SHATTUCK AVENUE Do you ever wonder where the names of Berkeley streets come from? Shattuck Avenue and Kittredge Street were both named after Francis Kittredge Shattuck. Shattuck was an early resident and a prominent force in the growth of what became the City of Berkeley. He was born in New York in 1824 and moved to California with his friend and brother-in-law George Blake when they heard that gold was discovered here. Shattuck and Blake each acquired 160-acre parcels in what is now central Berkeley. Francis Shattuck had various political roles, and was mayor of Oakland from 1859-1860. [...]
REAL ESTATE ANSWERS: Is Berkeley checking how we sort our waste and recycling?
Is Berkeley checking how we sort our waste and recycling? Yes, the City has been checking a subset of our curbside refuse and recycling bins for correct sorting lately. If they find items in the wrong bin, they leave a note with tips to help you sort correctly. Because I spend a fair amount of time trying to figure out which bin various items go in (or which Ridwell bag to use), I periodically go online and check the sorting rules, and thought I’d share some interesting and clarifying tips I found. The question that has come up most often [...]
THE OUTLOOK: North Berkeley & the Berkeley Hills, Spring (Q2) 2025 results
THE OUTLOOK: North Berkeley & the Berkeley Hills, with results from Spring (Q2) 2025. Spring is traditionally the busiest season in the Berkeley real estate calendar, and 2025 was no exception. Across both North Berkeley and the Berkeley Hills, the second quarter brought a flurry of activity, supported by sustained strong buyer demand. Even as interest rates remained elevated and economic signals remained mixed, the local market showed resilience. Price trends this spring were driven in large part by the mix of properties sold. North Berkeley saw more condo sales, and the Hills saw more higher-end sales; these shifts shaped [...]
Movies in the Park
Movies in the Park Looking for something to do on a Friday night coming up? How about seeing a movie in a Berkeley park? The City of Berkeley’s free evening movie series runs through mid-September. If you’re going, the City suggests arriving at least 30 minutes before showtime, and recommends not driving there if possible, as street parking will be limited. Plan to bring something to sit on (low beach chairs only—so the people behind you can see—or a blanket, sleeping bag, etc.), a flashlight or headlamp, and weather-appropriate layers in case it gets chilly. I would definitely bring some [...]
THE OUTLOOK: North Berkeley & the Berkeley Hills, Q1 2025 results
THE OUTLOOK: North Berkeley & the Berkeley Hills, with results from Q1 2025. As I write this in early April, the newly implemented Trump tariffs have introduced a big wave of uncertainty into the economy. Uncertainty and tariffs generally aren’t good for the stock market—but paradoxically, bad news for stocks can mean good news for interest rates. In uncertain times, investors often move money into bonds, which tends to push mortgage rates lower. And lower rates are good for the housing market. Even in periods of economic instability, a home remains a solid long-term investment: you can live in it, [...]
PARKING PERMITS
Parking Permits If you live in a Berkeley neighborhood with two-hour street parking limits and have a residential parking permit that exempts you from the time limit near your home, it’s time to start thinking about renewal. You’ll need to have your new permit in place by July 1st, and if you renew online, remember that the City of Berkeley says processing may take five to seven days. You also won’t be able to renew if you have any unpaid parking tickets, so make sure to clear those first. Permits these days are digital and tied to your license plate [...]
THE OUTLOOK: North Berkeley & the Berkeley Hills, 2024 wrap-up and results from Q4
THE OUTLOOK: North Berkeley & the Berkeley Hills, 2024 wrap-up and results from Q4 Looking back on the Berkeley real estate market for 2024, mortgage rates continued to be the big story. The Federal Reserve cut its federal funds rate target three times in the last portion of 2024, by a total of 1%. Mortgage rates reached their lowest level of the year in September, in the low 6% range, right around the time of the first Fed rate cut. Since then, though, despite two more Fed cuts, mortgage rates have climbed back up to almost 7%. What happened? Mortgage [...]
THE BERKELEY PUBLIC SCHOOLS FUND
The Berkeley Public Schools Fund There are many great reasons to support public schools. Public schools ensure all children, regardless of background, have access to quality education and future opportunities. They teach critical thinking and help the next generation of voters analyze information, identify misinformation, and make informed decisions, supporting the functioning of our society. Public schools also foster community vibrancy. They bring together students from diverse backgrounds, promoting inclusion and understanding. Schools serve as gathering places where people connect, hosting cultural events, art programs, and performances. They provide essential services, like meal programs, counseling, and extracurricular activities, contributing to [...]
THE OUTLOOK: North Berkeley & the Berkeley Hills, Q3 2024 wrap-up
THE OUTLOOK: North Berkeley & the Berkeley Hills, Q3 2024 wrap-up The most interesting news in real estate lately has not been about the local market, but rather about interest rates and Federal Reserve policy. Over the summer, the expectation was that we were reaching the point where the Fed would start lowering interest rates. After 11 increases in the Fed’s interest rate target from March 2022 to July 2023, and more than a year at the July 2023 peak, the Fed reduced its target rate on September 18th. The cut was widely expected, and interest rates on home loans [...]
THE OUTLOOK: North Berkeley & the Berkeley Hills, Q2 2024 wrap-up
THE OUTLOOK: North Berkeley & the Berkeley Hills, Q2 2024 wrap-up It has been a wild real estate market out there this spring. Buyers were very picky, and many were looking for properties that were close to shops, campus and transportation. Buyers in this category seem to have adjusted expectations and accepted that higher interest rates are the new normal, and they are back in the market. As a result, we saw some big bidding wars for desirable homes, and some high price results. Since much of the area I’m calling “North Berkeley” is close to shops and transportation, it [...]
REAL ESTATE ANSWERS: Where can one get more information on the current homeowners insurance crisis in California?
Where can one get more information on the current homeowners insurance crisis in California? The current insurance situation comes up a lot in my profession, since virtually every real estate transaction results in a new homeowners insurance policy. All buyers who are getting a bank loan must get homeowners insurance (it’s required by lenders), and of course all but the most extreme risk-loving cash buyers will want coverage as well. We fairly regularly get presentations and other insurance information at office meetings. When I heard that Susan Wengraf, Vice Mayor of Berkeley and Councilmember for District 6, was hosting a [...]
RANDOM REFUSE & RECYCLING BITS
My husband and I were recently trying to figure out if a white takeout food container could go into our green Berkeley compost collection bin. (I think the answer is no, because even though it is mostly paper, it has a plastic coating inside to make it hold liquid.) In trying to find the answer to our question, I came across a couple bits of potentially useful information I thought I would share. Did you know that you can ask the City to come out and clean your trash and/or compost bin? You just call the service center at 510-981-7270 [...]
THE OUTLOOK: North Berkeley & the Berkeley Hills, Q1 2024 wrap-up
THE OUTLOOK: North Berkeley & the Berkeley Hills, Q1 2024 wrap-up How is the market doing so far this year? It’s been mixed. Higher interest rates are definitely having an effect. Some properties are selling quickly with multiple offers, and others are not. In general, properties that are well-presented (with good preparation, good staging, and good marketing), and that are strategically priced compared to similar properties, are selling well. There are a good number of first-time buyers in the market, who typically shop for smaller/less expensive homes. There are also wealthy or high-income buyers, who can afford a purchase even [...]
Berkeley is the (among the) best! / Going Green
Best Cities Niche.com recently released its 2024 ranking for the “Best Cities to Live in America,” and Berkeley was #11! Berkeley was rated highly in the categories Public Schools, Good for Families, Nightlife, Diversity, Weather, Health & Fitness, Commute, and Outdoor Activities. Berkeley was bested in this ranking only by Irvine (ranked #6 overall) among California cities. For full details, see niche.com/places-to-live/search/best-cities/. Going Green I am always looking to expand my knowledge of anything related to real estate, and I recently finished the coursework to be a designated “Green” Realtor®. The coursework covered a broad range of topics, from ways [...]
THE OUTLOOK: North Berkeley & the Berkeley Hills, Q4 and full-year 2023 results
THE OUTLOOK: North Berkeley & the Berkeley Hills, Q4 and full-year 2023 results 2023 was an interesting year in Berkeley real estate, where the driving factor was interest rates. Rates climbed to almost 8% during 2023, from around 3% at the start of 2022, with two main effects. On the demand side, higher interest rates reduced demand by increasing costs for any buyer needing to get a loan. To give you a sense of the impact, a loan of $1M at an interest rate of 3% costs $4216/month; at 8%, the monthly payment on that same loan is $3122 more [...]
THE OUTLOOK: North Berkeley & the Berkeley Hills, Q3 2023 results
THE OUTLOOK: North Berkeley & the Berkeley Hills, Q3 2023 results The main feature of the Berkeley real estate market in the third quarter of 2023 was the combination of rising interest rates and low inventory of homes for sale. Interest rates on home loans have climbed to the high 7% range, reaching almost 8% as I write this. This is more than double what rates were at the beginning of 2022, so it’s not surprising that we’ve seen a reduction in demand for properties compared to last year. At the same time though, there has been a decline in [...]
THE OUTLOOK: North Berkeley & the Berkeley Hills, Q2 2023 results
Looking at the market data for the second quarter of 2023, the theme seems to be “good news, bad news.” Let’s start with the bad. If you compare price results for the second quarter of this year to the second quarter of 2022, prices are, not surprisingly, down. The median sold price in the hills was $1,725,000 for the second quarter this year, which is down 12% from last year. The average sold price per square foot, $904, is 13% lower than it was for the same period last year. In North Berkeley, the median sold price in the second [...]
N11 Refresher
N11 Refresher Here’s a brief refresher on N11 quick-access phone numbers (where N is a number between 2 and 9) . 911 of course connects to a dispatcher for emergency services. Did you know, though, that if you call 911 on a cell phone, the call often ends up in a regional center, and then needs to be forwarded to more local help? If the call needs to be re-routed, this adds time to the process. This is not ideal in an emergency, so it’s a good idea to have your local, direct-access emergency number stored in your cell phone, [...]
THE OUTLOOK: North Berkeley & the Berkeley Hills, Q1 2023 results
A big question on many people’s minds lately is “how is the real estate market doing?” One important answer to that is that inventory has been really low so far this year. There were only 32 listings on the market in the Berkeley hills during the first quarter (Q1) of 2023, which is less than half the number from the same period last year. With so little inventory, there also weren’t many sales. The 15 sales in Q1 this year were also less than half as many as in the first quarter of 2022. In North Berkeley, there were only [...]
More Recycling
More Recycling I started using a new paid recycling service called Ridwell in January, and I have to say, I have been loving it. Ridwell charges $14 to $18 per month (depending on the number of months you commit to), and comes to your house every two weeks to pick up items that our regular City recycling pickups don’t collect. They pick up plastic film (including most bubble wrap, grocery and newspaper bags, and the outer packaging on many items), batteries, light bulbs, and threads (clothing and other fabrics) every time, plus they have one additional special category on each [...]
THE OUTLOOK: North Berkeley & the Berkeley Hills, Q4 and Annual 2022 results
Last year was the craziest roller coaster I’ve ever seen in our local market. We started 2022 with an intense surge in buyer activity, but that surge was reversed by the summer and through the end of the year, as buyers adjusted to higher interest rates, concerns about the economy, and declines in the stock market. *** NORTH BERKELEY: Looking at 2022 as a whole, the median sold price in North Berkeley was $1,650,000, which is unchanged from the previous year. Average sold price per square foot, at $1046, was up 7% compared to 2021. Properties in North Berkeley sold [...]
Changes Afoot!
Changes Afoot! My 20-year anniversary in real estate has inspired me to look over my work systems and find ways to improve going forward. One area that I have re-vamped is the way I collect and analyze local market data. My goal has been to reformat my ongoing database to make it easier to create charts and graphs. I’m also going to start saving data for Berkeley as a whole, in addition to data for North Berkeley and the Berkeley hills. Another change: In the past, I have looked at real estate “seasons” that correspond with the level of activity [...]
THE OUTLOOK: North Berkeley & the Berkeley Hills, Summer 2022 results
The real estate market over the summer was noticeably more subdued than in the first half of the year. Buyers were in an absolute frenzy in the spring, anxious to get into the market before interest rates increased, and as a result, prices went up sharply. Over the summer, the spring spike in prices vanished, as buyers became much more cautious. A number of factors together explain why the summer market slowed. The stock market went down (affecting buyers’ down payment funds), and interest rates went up (affecting affordability). Some buyers could no longer afford the type of home they [...]
It’s been 20 years!
It does not feel like it has been this long, but this October marks twenty years that I have been a full-time realtor in Berkeley. I started in real estate with my salesperson’s license in October 2002, and then completed the additional certifications to get my broker’s license in 2006. It was a hard decision to change careers from academia to real estate (I was previously an economics professor at the University of San Francisco), but real estate is my passion, and I haven’t regretted it. I get to apply my economics background in things like analyzing market conditions, thinking [...]
THE OUTLOOK: North Berkeley & the Berkeley Hills, Spring 2022 results
There has been a lot going on in the real estate market since my last newsletter, when I wrote that competition between buyers was looking especially intense. The prospect of increasing interest rates always motivates buyers to find something before rates go up, so they bid extra hard for available properties. As a result, we saw more incredible sale prices during the spring, and the market reached a new peak. **** NORTH BERKELEY There were 39 properties on the market in North Berkeley over the spring season (March through the end of May), and 27 properties sold. Of these, all [...]
Bulky Waste and an E-Waste Resource
Did you know that, as a Berkeley homeowner, you can schedule one free bulky waste pick-up per calendar year? Just call (510) 981-7270 to schedule for an upcoming Wednesday. They’ll pick up a maximum of 3 cubic yards, which they say is the equivalent of about 20 large trash bags. Everything they pick up goes to the landfill, so be sure to separate out recyclables, green waste, and consider Urban Ore for items that can be re-used. Some things are not eligible for the bulky waste pick up. Included on the “not OK” list are things like hazardous waste items, [...]
THE OUTLOOK: North Berkeley & the Berkeley Hills, Annual 2021 & Winter 2021-22 results
It’s time as usual to look at the previous year’s results for our local real estate market, and also talk about the results for the winter season just ended. 2021 started off with a bang. A big upswing in buyer interest led to major competition between buyers, which led to big price increases. The craziness moderated somewhat later in the year as interest rates started increasing and more homes came on the market for sale, but values stayed at the new higher levels. In 2021, there were more properties on the market in both North Berkeley (127 active listings) and [...]
Variations in Sold Price per Square Foot
If you are a regular reader of this newsletter, you have many times encountered the notion that, everything else being equal, the amount a property sells for per square foot of living space tends to be lower for large homes, and higher for small homes. To illustrate this point, I grouped the detached homes sold in North Berkeley and the Berkeley hills* over the course of 2021 by size category, and found the average sold price per square foot for each category. The results are above. As you can see, the pattern holds as a general rule: the larger the [...]
THE OUTLOOK: North Berkeley & Berkeley Hills, Fall 2021 results
I mentioned in the last newsletter that the market seemed to be cooling off a bit from the spring frenzy, and that was true through most of the fall season. That has changed recently (the market has been crazy hot again in December!), but we won’t have data on that until next year, when the currently pending sales have closed escrow. Over the fall, inventory was relatively high, and it was the competition between properties that made the market a little cooler than earlier in the year. Prices are still sky-high though. Sales over $2 million are now not uncommon [...]
REAL ESTATE ANSWERS: Should I be careful not to over-disclose when I’m selling my home?
Should I be careful not to over-disclose when I’m selling my home? Completing seller disclosure forms in California can be a daunting task. A seller is legally obligated to disclose all known material information about the property to the buyer, and can be sued for hiding defects or problems. A material fact is any piece of information that would affect the buyer’s decision to purchase the property. To meet this obligation, sellers complete a series of detailed questionnaires about the current condition of the property, ongoing maintenance, past repairs and upgrades, and a whole array of other topics. Some of [...]
SEWER LATERALS AND DRAINAGE
Sewer Laterals and Drainage We’ve had a number of office discussions about water-related issues since the first “atmospheric river” passed our way, and I heard something about sewer laterals that I wanted to pass along. A sewer lateral is the underground pipe that takes wastewater from your home to the city sewer line. You probably know that when you sell a home in Berkeley, the sewer lateral needs to be brought up to current standards, either before or soon after a sale, unless there is a compliance certificate already on file. The reason this is a requirement is not to [...]
THE OUTLOOK: North Berkeley & Berkeley Hills, Summer 2021 wrap-up
I have been getting lots of questions lately about the state of the market, with people mentioning news articles that cite slowing. Our local market was not quite as crazy over the summer as it was over the spring, and that seems to be continuing into the fall. However, the spring was sooooooo crazy, that even with a little cooling, the market is still very solid. **** BERKELEY HILLS There were 96 active listings in the hills for the summer 2021 season (June through August), and 66 properties closed escrow. These numbers are up from the spring, which is not [...]
RESOURCEFUL
RESOURCEFUL I try to recycle as much as possible, but I pretty frequently find myself staring at something trying to figure out what to do with it. I recently downloaded the “Resourceful” app to my phone, and I really like it! [If a phone app is not your thing, you can get the same information online at ResourcefulApp.com.] On Resourceful, you can look at various products, and see recycling information that is specific to Berkeley, and also ideas for more sustainable alternatives. Resourceful also has a useful general guide to recycling in Berkeley. Here are a few tidbits about [...]
REAL ESTATE ANSWERS: What kinds of projects can add lasting value to my home?
What kinds of projects can add lasting value to my home? Suppose you want to do some work on your home, and you want to choose a project that will add value, not just today, but into the future when you might sell your property. We all know that kitchens and baths sell houses, so remodeling either of those is an obvious possibility. However, if you have a long time horizon, there's a problem with that choice: remodeling is very style-dependent. If you remodel your kitchen now, but don’t sell your home for 15-20 years, you’re not going to get [...]
THE OUTLOOK: North Berkeley & Berkeley Hills, Spring 2021 wrap-up
I am definitely a data-lover (I know that will not come as a surprise!), but I have been especially looking forward to analyzing the data for Spring 2021. The Berkeley market has been super hot since the start of the year, and the spring results are where that should show up. **** BERKELEY HILLS Over the spring season, there were 75 active listings in the hills, and 59 properties sold. These numbers are both higher than for Spring 2020 (not surprisingly, given that was the start of the pandemic shut-downs), and they’re also higher than in Spring 2019. Properties were [...]
A GREAT CAUSE
A GREAT CAUSE Since as far back as I can remember, I have always loved libraries. When I was growing up, I loved the independence of wandering the aisles and choosing my own reading adventures. As a teen, the library was a safe and welcoming place to study and to meet up with friends. In college and graduate school, libraries were places to find answers, and spots of quiet serenity where I could get serious work done. As an adult, I borrow books all the time (although now I do it electronically, which I know is a controversial choice for [...]
REAL ESTATE ANSWERS: What is the right pricing strategy for my home?
What is the right pricing strategy for my home? In Berkeley and in the surrounding areas, it has long been the case that many properties are listed below what they’ll likely sell for. I’ll call this “low pricing.” Low pricing is a strategy intended to attract the attention of a wide range of buyers and to generate multiple offers. Most properties around here follow this strategy, but it’s not the only possibility. “Transparent” pricing is a newer term for the classic pricing strategy followed in most other areas. It refers to choosing a list price that is at a value [...]
THE OUTLOOK: North Berkeley & Berkeley Hills, Winter 2020-21 wrap-up
As always in the March/April newsletter, I’m going to review both the data for the past year, and also look at the winter quarter results (for December through February). *** 2020 Results: 2020 was a surprisingly solid year in local real estate, despite a big lull in activity with the first shelter-in-place. After just a few weeks, though, real estate was deemed an essential service, and activity gradually picked back up. Berkeley Hills 150 properties sold in the Berkeley hills in 2020, which is a bit fewer than in 2019, but there were also fewer homes on the market. Properties [...]
THE OUTLOOK: North Berkeley & Berkeley Hills, Fall 2020 wrap-up
I find this sort of amazing given what’s been going on in the world this year, but our real estate market has continued to do remarkably well through the fall season. The combination of super low interest rates and the desire to have a better space to shelter in has kept demand from buyers strong. At the same time, fewer property owners have put their homes on the market — for Berkeley as whole, the number of homes for sale from January through November this year was down 14% compared to the same period last year. With low supply and [...]
THE OUTLOOK: Berkeley (North & Hills), Summer 2020 wrap-up
Between the pandemic, the wildfires, and the blanket of smoke we’ve had to live with lately, one would think that the local real estate market would have gone into hibernation, but this has not been the case. The pandemic has caused many people to re-evaluate where they want to live. We’ve been spending much more time in our homes— for work, for school, for meals, for entertainment, for exercise, for leisure— so having the right indoor and outdoor spaces for those activities is more important than ever. Many people working from home are moving to take advantage of lower real [...]
ARE YOU UNDER-INSURED?
ARE YOU UNDER-INSURED? The huge wildfires this year are a reminder that we should all periodically evaluate our insurance coverage, and make sure that we could rebuild if we ever needed to. Most insurance policies auto-renew each year, and the coverage may not keep pace with rising building costs. To get a very rough sense of the adequacy of your existing coverage, take your total coverage amount and divide it by the square footage of your home to calculate how much you would be able to spend per square foot if you had to rebuild. Experts say that $250-$300 per [...]
THE OUTLOOK: Berkeley (North & Hills), Spring 2020 wrap-up
I’m going to shift focus somewhat for this issue of The Outlook. We’re living in a time right now when many of our usual concerns seem trivial. Compared to the importance of the growing calls for an end to systematic racism and violence against black people and reforms in the way we police our communities, and compared to coping with a global pandemic and its effect on our lives and livelihoods, real estate market statistics seem like a side note. However, there are a variety of reasons why people still want to know what’s happening in the local real estate [...]
Home Loans, Interest rates, and Real Estate Newsletters
HOME LOANS AND INTEREST RATES x Interest rates on home loans have been very low lately! If your interest rate is close to, or above, 4%, it could be worth your while to contact your favorite loan person and see if you could benefit from refinancing your loan. x (See the update below.) Also, the limit on conforming loans (which can be sold to Fannie Mae and Freddie Mac) in our area was increased for 2020 to $765,600, up from $726,525 last year. Loans below that limit often have lower interest rates than those above. UPDATE, March 20, 2020 While [...]
Bridge Loans
BRIDGE LOANS Did you know that it’s possible again to get a bridge loan? A bridge loan is a short-term loan that can be used to access the equity in a home you are planning to sell in order to purchase a new home. Following the financial crisis in 2008, lending standards got extremely strict, and bridge loans vanished from the market. Non-cash buyers who wanted to buy a new home before selling their old one needed to either (1) show that they had enough income to make payments on the loans on their existing home and on their new [...]
How sold price per square foot varies with property size
I've mentioned in past newsletters that, in general, smaller properties sell for higher prices per square foot. This chart compares the average sold price per square foot for properties of different sizes. The data is from the area indicated, January 1, 2019 through October 31, 2019.
Emergency Alerts
EMERGENCY ALERTS Have you signed up yet for Alameda County emergency alerts? The system is called AC Alert, and it’s very easy to sign up to receive notifications from city and county agencies in the case of an emergency. Just go to ACalert.org online, and you can sign up to receive notifications by voice message, text message and/or email. The City of Berkeley previously used an alert system called BENS, but this system is no longer active, and subscribers to BENS are not automatically signed up for AC Alert. There are other alert systems that have slightly different focuses. I [...]
REAL ESTATE ANSWERS: How have the massive fires in recent years affected homeowner’s insurance locally?
How have the massive fires in recent years affected homeowner’s insurance locally? I spoke with Ruth Stroup with Farmers Insurance, who is always a great source of information about the insurance world, and asked her what changes she’s seen as a result of the tragic fires we’ve had in California over the last few years. Ruth said that the huge claims in back-to-back years from the fires have affected insurance companies’ ability to get reinsurance. (Reinsurance pays a share of the claims in the case of massive losses like with the fires, and is a critical component of the insurance [...]
REAL ESTATE ANSWERS: How old is the housing stock in Berkeley?
Many times over the years, when counseling new buyer clients, I have pointed out that the majority of the homes in Berkeley are older, built in the early part of the 1900s. I know this anecdotally, and from looking at so many homes over the years, but I had not seen any actual figures. I thought it would be interesting to look at the data, so I went to my handy public records database and looked at records for the single family homes in Berkeley. A couple things to keep in mind: (1) I only looked at structures that are [...]