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Market Conditions in Berkeley : Real Estate Advice

  • All242
  • Local Info9
  • Home Buying110
  • Home Selling5
  • Market Conditions12

Activity 14
Mon Feb 18, 2013
Anna Bellomo answered:
Best (and wise) thing to do is to check the Megan's Law website:

http://www.meganslaw.ca.gov

Anna
0 votes 4 answers Share Flag
Sun Sep 23, 2012
Eric H. Wong answered:
what do you want to know about the property?
0 votes 4 answers Share Flag
Thu Mar 1, 2012
Robert Chomentowski answered:
You could check similar homes in the area on a title company web site and look at the historical sales. You might find something that sold in 1989 and that would give you a good idea.
0 votes 1 answer Share Flag
Tue Oct 25, 2011
Michael Hughey answered:
That is a Weird question? I thas no bearing on anything relative , plus the question is ambiguous?
0 votes 4 answers Share Flag
Fri Apr 12, 2013
Bill Eckler answered:
Hale,

Providing comparison properties is only one of the many services provided by real estate professionals. This is also information you can personally access through trulia, zillow, your local tax department, etc.

Good luck,

Bill
... more
0 votes 2 answers Share Flag
Tue Dec 7, 2010
Pacita Dimacali answered:
Depends on your criteria.

Are you looking only at detached single family homes? What size home -- there are so many nice and cute bungalows, but there are also very large homes that have sold

i can send you charts showing median sold compared to median or sale from 2007-2010 to compare supply and demand, days on market to show inventory levels, etc.

Let me know..,,or wait a few minutes and I can give you a general overview
In the meantime, here's a link to Trulia's report on market activity/values in Berkeley Hills
http://www.trulia.com/real_estate/Berkeley_Hills-Berkeley/527/market-trends/ which show median salesprice at $724K, a 12% decrease compared to prior year.
... more
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Sun Sep 13, 2009
Liz Stevens answered:
We saw a few large Albany homes in the north of $1mil range. I sold one on Peralta...but that was another market. The MLS will give you the most up-to-date values that are current. all the best. Liz ... more
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Mon Oct 20, 2008
Ute Ferdig - Atty. Negotiator answered:
You could contact the Berkeley Association of Realtor. Realtor Associations usually gather statistical data like that. See link below to get you started. Hope they'll be able to provide you with the information you are looking for or maybe they can at least point you in the right direction. Another avenue to consider would be the National Association of Realtors (NAR) www.realtor.org ... more
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Thu Oct 2, 2014
Dena Jones answered:
That will depend on what type of renovations you want to complete. Do you want to do the work yourself or hire professionals? The type of materials you want to use will also effect an estimate. ... more
0 votes 6 answers Share Flag
Thu Apr 3, 2008
Kenneth Lee answered:
The land that has three bridge views in Oakland and Berkeley are at a premium. In building a home, the rule of thumb is $300.00 per sf, but you need to add on the cost of land, permits, etc... Also, many times the lots in this area are on a steep slope which will add to the costs of building on it.

I would recommend that you buy an existing property and customize it to your own tastes.
... more
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Wed May 19, 2010
Pam Winterbauer answered:
Sheldon....

A local Realtor can help you with trends and statistics. Beware that Berkeley has a very tight rent control and be sure to use a Berkeley Realtor. Good luck.
0 votes 5 answers Share Flag
Tue Nov 6, 2007
Norman Gee answered:
Depending on the size of the lot it may be more profitable to build a detached second unit add an off street parking space, and perform a condo conversion. If the conversion doesn't involve a property that is part of Berkeley's rental inventory it should be cheaper and less complicated than converting rental units. Typically, detached condos will sell for at a higher per square foot price than a duplex. Depending on location and size, most duplexes in Berkeley sell for under 800K while similarly sized condos will probably sell for 450K - 550K each. R2 zoning probably allows a footprint of 35% - 40% of the total lot square footage and 2 stories should also be allowed. I am engaged in a similar project right now in North Berkeley and it's been a real learning experience. I've included the link to the City of Berkeley's planning department so you can call and get the actual footprint allowed. Prices in Berkeley have remained amazingly strong for the most part although some neighborhoods have definitely softened. My advice is to get the most current comparable prices for both duplexes and condos in your area to see which option works better for you. ... more
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Sat Jun 4, 2011
ian cockburn answered:
Thinking ahead like that..no one can predict that far in advance...on any 1 house, in any 1 area...and then compared to what stock in the market?
You need to define your personal level of risk first before looking at the "big picture".
Go beyond the level of basing your housing needs on someone's name...you need to define exactly what you want relative to your income and the amount of money you will have to put down on the house. It is this money you put down is what you compare to the market as a rate of return on that initial investment, since you have to live anyway somewhere.
... more
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Sun Mar 30, 2008
Eric H. Wong answered:
While I am seeing price reductions in the Berkeley flatlands, those homes in Kensington, North Berkeley and they Berkeley Hills seem to be maintaining their values. In fact, in those areas, and in the $750K to $950K range it is not uncommon to see multiple offer situations even in today's market.
It is true, there is not the double digit appreciation per year going on any more, in these special areas, there is also not a drastic price reduction going on.
... more
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