Opportunity Knocks?

At 55 Crest Ave. in Alamo, you might see a “best of both worlds” type home. It’s a 0.84 acre lot, the land is appealing, and because of that, they’re listing at $795,000.

But if you’re waiting to move into the 21st century, this may not be the place for you. Believe it or not, this run-down old place had almost 50 disclosure packages requested because of its location and potential.

I personally know a few people who are interested in the renovation project, with the knowledge that a remodeled home in that area may sell for much more later on.

Of course not all buyers who request a disclosure package will write, but I suspect they got at least 15 offers, the opportunity is too great even if the property sells for one million, it is surrounded by $1,500,000-$2,000,000+ homes.

There was a combination of speculators looking to flip it and disgruntled buyers who have lost out on homes and think it might be worth building their dream home. It just goes to show that the Bay Area real estate market is crazy red hot right now – it is a seller’s market.

If you are thinking of buying in or around Walnut Creek, give me a call! I’d love to help you.

Z Gallerie’s shelves full of treasures

Z Gallerie has made a triumphant return to Walnut Creek!

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Years ago, the furniture and home decor store was open where Patio World currently resides and now it has a new home where Anthropologie was on Locust St. This location might have more staying power than the last one, given their nice new storefront and the addition of more parking.

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I went there recently and saw some fanciful items. The store is organized primarily by color. I especially liked the cool skull selection – also love those pillows. It is very hip with many accouterments, some furniture, and perfect for some last-minute Christmas gifts, too!

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img_9620 img_9617I remember when I first moved to San Francisco, I would browse Z Gallerie and think about the days I could afford their stuff and have a home to put it in. Flash forward to today: I see a lot of stuff that isn’t really needed, but are extras to decorate your home with in current styles. Either they’ve changed their merchandise, or I’ve changed my views!

First-Time Home-Buyers vs. Repeat Buyers

One Cool Thing chartAccording to the California Association of Realtors, first-time home buyers look for different things in a property than repeat buyers do. Californians list rental fatigue as the single most important reason for buying a home. From those who are trying to move up, it’s a size upgrade, followed by a location improvement.

First-time home buyers are who allow repeat home buyers to move up to the next home and continue the domino effect into the higher-priced homes. This chart to the left provides an interesting look at the different reasons different types of buyers want a new house.

On average, first-time home buyers will stay in their first home between 5-7 years. The reasons for eventually selling vary, but often it is because of the addition of new members to their family, or the search for more space, good schools and a neighborhood where home owners can see their kids riding bikes and being part of a safe community.

I recently listed a past client’s home who bought 3 years ago. When she called me, she said, “Kristin, you were right. We are ready to move.” When they bought their home, I told her they would be there maybe for 5 years and she adamantly said we will be here for a long time.  Do you have a similar story?  Are you outgrowing your first home?