5 Tips For Summer Success
Patrick MacCartee
NOVA
(510) 859-4895
T H E T I P - L I S T I N G S - E A T S
JUST THE TIPS
Summer is in full swing and with relatively high numbers of people being vaccinated in the SF Bay Area, people are out having fun and enjoying the summer. Don’t let your weekend plans hinder the hunt for your next home. Here are 5 tips for house hunting this summer in a very competitive market.
#1 Hunt on Weeknights
Headed out of town for the weekend? Get in early. Don’t wait for the open house, grab your Realtor® (preferably this one) and tour the home after work. Commuter traffic is done at 6p right now and sunset is well after 8 pm. Get in early if you can, information is king, and having it before everyone else can give you and timing advantage. What is early info good for you ask, see tip #2
#2 Preemptive Offers
It may sound counterintuitive to write a hefty offer over list price when you are the only one bidding, but in the end, you could be saving a bundle by avoiding a bidding war. While homes in the area selling for $1MM over list price, several clients purchased their dream home on or under budget using this strategy. One client received a postcard from the seller with the following quote “…your realtor was a smart one BTW. Yours was not the offer that I would have taken had the sale gone to offer date…” Humblebrag much! Understanding the sellers’ motivation is key for this strategy, so do your homework, better yet have your Realtor® do it for you. See 3 amazing opportunities for off-market listings below.
#3 Expansion Opportunities
Thinking about starting a family? You are not alone. Many people start their hunt with the 4 bedroom home for their soon-to-be family. People generally can’t visualize in 3 dimensions or understand how to maximize a home’s full potential. Homes with 2 bedrooms that have the potential to be 4 bedrooms are heavily undervalued and are easier to buy than a fully realized property. There are many 2 and 3 bedroom homes out there with huge upside potential for expansion in the basement and/or attic space. Buying an unrealized home in a great school district can be a great way to enter into a hot market and provides you the option to invest and expand according to your family's timeline.
#4 Loan Officer > Loan Rate
In this competitive market, having strong deal terms can be more important than the price you are willing to pay. Being able to close a deal, even if financing, in 15 to 21 days can set you apart from the pack and keep you competitive with cash offers. Focus less on the interest rate, they should all be pretty close anyway and focus on who is originating your loan and what they are capable of. Ask them if they can do a 15-day to 21-day close once pre-qualified. Ask your agent who they think is solid and can get the job done. Feel free to ask me about my favorites that kick tail and make it all too easy.
#5 The STING!
Right now the single-family home market is HOT! You may feel like you are overpaying right now, and it’s not hard to do, however, in a year or two, you will have recouped your investment and be in a more comfortable position. Get ready for the sting and know it goes away rather quickly, summer cocktails may help.
OFF-MARKET LISTINGS
Your opportunity to get a jump on the competition!!
Walking neighborhood w/ tons to do
Craftsman Bungalow
Totally updated w/ great yard
2 Blocks to Piedmont Avenue
Tons of amazing places to eat, drink, shop
BART/Transit/Freeways
Noe Valley of Oakland
Price: 1,500,000
3532 Kempton Way, Oakland CA
Great Schools & Fun Neighborhood!
Charming Craftsman in lower Piedmont
Piedmont School District
Great bites, fun bars, shopping, all a short walk
Tranquil backyard with deck
3B/2b - 1,720 sqft
List Price: $1,149,000
4427 Moraga Ave, Piedmont, CA
Stunning neighborhood & schools
Craftsman Home w/ deep yard
Blocks to College Ave & BART
"Top Drawer" schools
Tons of charm and opportunity to update with your taste
Marina of Oakland
3B/1b + ADU 1B/1b + kitchen
Price: call - 510.859.4895
5862 Chabot Court, Oakland, CA
EATS in the EAST
Cosecha --> BOMBERA
One of the food casualties of COVID 19 was the much loved Cosecha in the Swan building in Old Town Oakland. Cosecha helped pioneer the area 10 years ago, but when Oaklands vibrant business district turned into a ghost town, chef/owner Dominica Rice-Cisneros had to close its doors. Her celebration of women and food carries on with Bombera. Bombera which means firewoman in Spanish is located in an old Firehouse behind the Farmer Joe's grocery store in the Fruitvale Districts of Oakland. They currently have weekly popups while they finish their build-out and post COVID ramp-up. For updates on the menu and weekly schedule check their Instagram @bomberaoakland
FETA BUTTERMILK DRESSING
I love salads. I could eat them for every meal, even breakfast. Of course, what makes the salad a show stopper is the dressing. I ran across this salad recipe from NYT Cooking this week and had to share it. I made a triple batch of the dressing after having it once. I plan to throw it on everything I can this summer or just eat it with a spoon. The only modification I made was adding a second fresh diced japaleño so more flavor blast comes through the buttermilk.
