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
REAL ESTATE ANSWERS: What counts as a bedroom in real estate, and do more bedrooms add value?
What counts as a bedroom in real estate, and do more bedrooms add value? A bedroom in general is just a room where people sleep. For a room to count as a bedroom for real estate purposes, there are several requirements: (1) FLOOR SIZE. According to the standards used by appraisers, a habitable room must have a floor of at least 70 square feet in area and be at least 7 feet in any direction. So a 7’x10’ room is okay, but a 6’x12’ space, even though it’s 72 square feet, wouldn’t be counted as a room (or a bedroom) [...]
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 [...]
REAL ESTATE ANSWERS: How do actions by “the Fed” affect interest rates on home loans?
How do actions by “the Fed” affect interest rates on home loans? The Federal Reserve System (“the Fed”) uses monetary policy to keep the U.S. inflation rate low, and keep the economy operating at full employment. These are competing goals, so their work is a major balancing act. The Fed’s primary policy tool is changes in the federal funds rate, which is the rate at which commercial banks loan extra reserve funds overnight to each other (so it’s a very short-term interest rate). The Fed raises rates to combat inflation, and reduces them if they are trying to fight high [...]
Mobile Driver’s License
Mobile Driver’s License Did you know that the California DMV has a mobile Driver’s License (mDL) pilot program running now, open to up to 1.5 million users? If you’re interested in giving it a try, start by downloading the free app called “CA DMV Wallet” from the Apple App Store, or from Google Play if you have an Android device, and then follow the straightforward instructions there. You create (or log into) your DMV account, enter some basic information, scan your driver’s license, and then “scan” your face (like you’re taking a selfie). Next you submit your request, and wait [...]
COMPLETED SALES, North Berkeley, 3rd Quarter 2023
Click to see details and photos of properties SOLD in North Berkeley, 7/1/2023-9/30/2023. Note that, after you follow the link, you can click on each individual property to see photos and more details. Click "Close" near the top to return to the list. * For the purposes of this newsletter, “North Berkeley” is defined as the area bounded by University Avenue in the south, the line of Sacramento Street to the west, the Berkeley border to the north, and below Arlington Avenue, Los Angeles Avenue, and Spruce Street (south of Los Angeles) to the west.
COMPLETED SALES, Berkeley Hills, 3rd Quarter, 2023
Click to see details and photos of properties SOLD in the Berkeley Hills, 7/1/2023 - 9/30/2023. Note that, after you follow the link, you can click on each individual property to see photos and more details. Click "Close" near the top to return to the list. * For the purposes of this newsletter, “Berkeley Hills” refers to the area bounded as follows: north of campus, east of a line heading north on Spruce from campus, cutting over on Los Angeles to Arlington, and then north along Arlington to the Kensington border.