Utmost68, Home Owner in Richmond, CA

Is the Richmond Annex market heating up?

Asked by Utmost68, Richmond, CA Mon Jun 18, 2012

I noticed that several houses in the Annex have received multiple offers in the last couple of months. Does anyone know if the PRICES are actually going up in the Annex? Trying to decide if it's a good time to put our house on the market.

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Prices have stabilized in the last 90 days. Because of the lack of inventory, record low interest rates, and a few years of pent up demand, well priced, well prepared homes in the annex, and all over Berkeley, El Cerrito, Oakland, etc have been getting multiple offers, and selling well above the list price.

The best thing to do, to help you figure out if this is the right time to sell, is to have an experienced, local Realtor come out to your property and give you a market analysis of them. After you have these numbers, you will know if it is the right time or not.

A lot of variables go into this decision. How long have you had the property? What if anything do you still owe on them? What is their condition? Ask a Realtor to come out and give you an honest evaluation.
0 votes Thank Flag Link Mon Jun 18, 2012
This question is a little difficult to answer without knowledge of the property in question. However, the lack of inventory has caused an increase in prices over the past 4 months or so. You may want to begin interviewing realtors so that they can inform you how properties are selling in your area and advise you on the best strategy for your property- short and long term, if applicable.

If you have any other questions please feel free to contact me!

Davey Cetina
Buyer’s Specialist | DRE# 01887446

Better Homes and Gardens Real Estate
2095 Rose St, Ste 100 | Berkeley, CA 94709
[t] 510.517.7238 | [f] 510.780.2110
david.cetina@bhghome.com
0 votes Thank Flag Link Mon Jun 18, 2012
Keep in mind that there are only 8 properties currently active in Richmond Annex, so your competition would be minimal. Only two of those have been on the market for longer than 30 days (but both are labeled as contingent). This is a good indication that these properties are moving quickly.
Flag Mon Jun 18, 2012
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