June 2025: Living & Breathing the East Bay Market

Hey June!

It’s been a busy 2025 for Nicole and me, and we’re so grateful to be of service to you.
So far this year, we’ve helped 13 homeowners successfully sell their properties and guided 6 buyers into new homes. But don’t let those numbers fool you—this market isn’t “easy breezy.” Let’s pull back the curtain on what’s really happening behind the scenes.

In January, we closed on a condo that, while presented beautifully, lacked some key features today’s buyers are seeking—there was no in-unit laundry, and the HOA dues were high. On top of that, the condo market has experienced a measurable decline (more on that in the next article). The property sat on the market for 89 days before going pending. I had advised the sellers to hold off on listing, but their personal circumstances required a sale. In the end, they sold at a loss.

We also represented a trust sale for a bungalow with significant drainage issues. It received multiple offers but ultimately sold for 1% under asking. Contrast that with a small Berkeley bungalow we just closed on—it received 6 offers and sold for 71% over asking. And in a rare move, we canceled a listing altogether—something I’ve only done 10 times in over 20 years—because the market simply couldn’t support the price the sellers needed to make the sale viable.

Bottom line: This market is unpredictable. That’s why tools like price-per-square-foot averages and automated online valuations are not reliable indicators of your home’s true value.

Here’s a real-world example: I recently pulled data for homes sold within a specific pocket of Oakland’s 94602 zip code, specifically north of 35th Avenue in the Laurel District. Over the past six months, the average price per square foot was $690.03—but with a huge range, from $489.06 to $988.70. That $988.70 per square foot sale? It was a small, fully updated home with large, usable, and beautifully landscaped outdoor spaces. It sold for all cash, likely reflecting the buyer’s urgency or preference more than comparable market data. With no appraisal involved, there’s no way to know if that price would have held, (or appraised at that price) under financing conditions.

Meanwhile, another property in the same area is pending at $582.25 per square foot based on county records. But here’s the nuance: the advertised square footage—measured independently—is higher than what the county reports. The seller is also providing over $30,000 in buyer closing cost credits and covering more than $10,000 in point-of-sale compliance items. Once you adjust for these factors, the true price per square foot comes down to approximately $558.19.

So what should you do as a buyer or seller navigating all this conflicting and confusing data?

That’s where I come in. As a full-time professional who lives and breathes the East Bay market, I offer insights far deeper than any algorithm. I interpret the numbers, uncover the story behind them, and help you make informed, strategic decisions based on your specific goals—not just stats.

If you’re thinking about buying or selling, let’s talk. I am here to guide you every step of the way.

– Deidre
 

4133 Norton Avenue, Oakland is available and open this Sunday from 2-4 pm, come visit me! www.4133Norton.com 

March 2025: The Spring Market is Here!

Happy March!

I'm grateful for another spring. Like clockwork, the birds begin their morning songs this time of year. While I have one little yipper who chatters all night and sometimes wakes me in the middle of my sleep, I still appreciate the season's renewal, rebirth, and the fresh start it brings—all sprinkled with sunlit mornings between the rain.

We are now in the midst of the spring market, and I'm seeing buyers actively searching for places to call home and communities where they can plant roots. The market right now is extremely complex, filled with a myriad of inventory, and I'm seeing more flipped properties—homes that have been purchased, renovated, and resold for profit. Some feature ultra-modern finishes that don't always complement the home's original architecture and era while others are tastefully done.

A challenge I'm noticing is that in some of these flipped properties, the disclosures and inspections can feel ambiguous. Often, not all recommended repairs are addressed, and finished walls can conceal areas and limit an inspector's ability to see the full scope of various home systems, which some buyers find concerning due to the possibility of damage or problems that may exist behind the inaccessible areas. Because of this, many of my buyer clients feel financially stretched—debating whether they should spend their entire budget upfront or set aside funds for potential unforeseen repairs.

Of course, even when purchasing a home from a longtime owner, surprise repairs can still arise—that's part of homeownership. Maintaining a home takes ongoing care and attention. For example, every two years, I have my tankless water heater descaled to extend its life. After a heavy storm last month, I discovered water in my crawl space despite having a French drain and sump pump. Upon inspection, I learned that my pump needed to be replaced. A home is like a family member—it requires "doctor appointments" and "prescriptions filled" to maintain its integrity.

But in return, what a home gives us is profound. It shelters us through stormy weather, keeps us warm and dry, and inspires us when morning light floods through the windows. It's where gardens bloom, breezes carry the scent of lemons, and music and laughter fill the air. It's where we find comfort on difficult days. It is, simply, my favorite place.

As buyers navigate today's market, they analyze everything—the layout, condition, potential repairs, point-of-sale requirements, recent comparable sales, and whether the home will fit their needs for years to come. Affordability is a defining factor, and because people are staying in their homes longer, they are also thinking ahead to future needs.

A growing trend I'm seeing is that buyers are subtracting more than just the cost of deferred maintenance from their offers. The reason? They can't finance the repairs—they need to pay dollar for dollar out of pocket while factoring in the risk of going over budget and the inconvenience of managing renovations.

On the flip side, I'm also seeing buyers willing to take on larger projects to get into neighborhoods they might not otherwise afford, securing homes at lower prices than properties with less repair and updating needs. 

For more insights into the spring market, check out my latest Real Estate Market Trends segment on KTVU. And as always, I'm here for any specific questions or needs you may have.

Warmly,

 

March 2025 | KTVU Fox 2 | Real Estate Market Trends