Home Buying in Berkeley>Question Details

Home Buyer In…, Home Buyer in Berkeley, CA

I have that dream to live in Berkeley. How's the market there? Up or down? Anything for less than 500K? Thx!

Asked by Home Buyer In Berkeley, Berkeley, CA Mon May 5, 2008

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My first question to you would be, "What are your needs?"

As my colleagues have demonstrated, there are homes selling in the range you are asking about, certainly. Where are you coming from and what are you expectations for a $500K property? ie.. square footage, number of bedrooms?

If you are currently living in a city nearby, you probably have an idea of what you might be looking at, but if you are traversing the country, you may be disappointed at what is available. For some, a walking neighborhood is the most important thing and in that case a condo is a great option. Some of the more affordable single family homes require a lot of work. These are things to consider as well. Good luck!
0 votes Thank Flag Link Wed May 7, 2008
Yes, Berkeley is a great town to live, and I am also looking to buy a condo can walk to UC Berkeley campus http://berkeleyhousing.blogspot.com/

I just went there for a weekend to check out the area and streets and the location with respect to the major buildings of Berkeley where my kid going to be around, but the two condos matched just sold, so we need to work harder to find next time over there ...

If you also loves units near UC Berkeley campus, I have documented a list of available ones http://berkeleyhousing.blogspot.com/ and you can click around to see the one you like. If you are over 55 year old, there is one you can get it for only $265,000 which is wonderful!
0 votes Thank Flag Link Wed May 7, 2008
Keep your dream alive - Berkeley has been one of the only cities where the prices have held steady through the first 8 months of the slowdown. There is a progression on how this works: first, homes stay on the market longer than they did in the previous market. secondly, a larger # of homes for buyers to choose from. Third, sellers who realize that the market is getting softer each day they wait reduce their prices so that they can get an offer from a buyer. Finally, offers get negotiated between buyer and seller. In Berkeley, we are still at the "more houses on the market stage" - look carefully at the homes that have been on the market for more than 30 days - there are the negotiating opportunities. let me know how I can counsel you. All the best, Liz
0 votes Thank Flag Link Mon May 5, 2008
Correction to my previous answer--29 home have sold not 38 as previously written.
Thanks, Susan
0 votes Thank Flag Link Mon May 5, 2008
Now is a good time to realize your dream of buying a home in Berkeley. Between January 1 2008 and today, May 5 2008--31 properties are currently for sale in the $300,000 to $500,000 range in Berkeley. This includes everything from 1 bedroom condos to 2,3 and 4 bedroom detached homes. The average sale price of these available homes is $413,691. 20 properties are pending with an average asking price of $439,040 and an average of 40 days on the market. 38 properties have sold with an average of 38 days on the market and an average sold price of $426,275 down from the average listed price of $441,108. Some properties, dependant on neighborhood and school zone, may have multiple offers and go over the asking price. That being said, given the current level of inventory in your price range, now would be a great time to get started.

Susan Kaney
Web Reference: http://www.susankaney.com
0 votes Thank Flag Link Mon May 5, 2008
Hello,

For the home buyer looking to potentially buy in Berkeley:

Yes, there are definitely options below 500k in Berkeley. It will really depend on the size of home you are looking for and location. The market has slowed in some areas of Berkeley, where other areas have not. As is seen in other areas, the condo market has slowed more, so there are some great opportunities for a condo.

There are a few single family homes under 500k, with some of them being bank owned. Some of these homes would definitely require some sweat equity, and that is something you would need to determine if you are interested in.

There are currently 33 active listings in your price range in Berkeley. If you would like a list of the homes for sale, please email me at Lisa@LisaCartolano.com

If you have any questions about homes for sale in Berkeley or the home buying process, you can contact me for information.

Take care,

Lisa

Lisa Cartolano
Alain Pinel Realtors
510.213.1139
Lisa@LisaCartolano.com

Vist my blog Real Estate News Without The Schmooze at http://www.NoSchmooze.com
0 votes Thank Flag Link Mon May 5, 2008
Hello,

Yes, there are definitely options below 500k in Berkeley. It will really depend on the size of home you are looking for and location. The market has slowed in some areas of Berkeley, where other areas have not. As is seen in other areas, the condo market has slowed more, so there are some great opportunities for a condo.

There are a few single family homes under 500k, with some of them being bank owned. Some of these homes would definitely require some sweat equity, and that is something you would need to determine if you are interested in.

There are currently 33 active listings in your price range in Berkeley. If you would like to see a list of the homes for sale, email me at Lisa@LisaCartolano.com

If you have any questions about homes for sale in Berkeley or the home buying process, you can contact me for information.

Take care,

Lisa

Lisa Cartolano
Alain Pinel Realtors
510.213.1139
Lisa@LisaCartolano.com
0 votes Thank Flag Link Mon May 5, 2008
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