Dear friends,
Last month I shared some of the details about the listing I’d been preparing on an idyllic street in North Berkeley, just half a block from Solano Avenue, and Andronico’s. Over several months we had planned the upgrade of this two+ bedroom, one bath bungalow, starting with a new roof, and some foundation upgrades. Then the entire home was renovated inside, including period-appropriate bathroom and kitchen remodels, taking the kitchen down to the studs, installing all new cabinets, counters, tile backsplash and new appliances. It was painted inside and out, and the garden reshaped. I must say the result was really lovely, and well over 100 visitors agreed!
Normally having a listing on the market during an extreme heat wave would not have made me happy. But in this home, we had just installed a very efficient ducted heat pump system that provides both heating and A/C as a bonus, and we got the perfect weather to show it off! On my final Sunday open house, the temperatures outside rose well into the 90s, but inside it was a cool 68 degrees. It was such a treat to watch folks take the single step into the living room, and say “ahhh” as they experienced the air conditioned-comfort of this home.
It was a very popular property, the kind of listing that we dream of as agents. From the very first tour people responded with enthusiasm, and the resulting sales price was well beyond my expectations. We had 36 parties ask for disclosures, and a dozen parties prepared offers. As you read this, this 1253 sq. ft. bungalow will have just closed for the astonishing price of $2.1 million, 77% above the list price of $1.185 million. If you are curious to see what commanded this much attention, you can take the virtual tour that I narrate, and see lots of photos at 940Fresno.com.
Any day I hear offers on one of my listings is always a very special day. For that brief period, I am very focused on the fiscal responsibility I have for my seller, and I am very conscious of the power that I have through strategic negotiating to influence his fortunes. I try not to set crazy expectations in my head, let alone in the minds of my sellers. But each of my last listings has had increasingly enthusiastic results. This listing set a new record for $$/sq. ft. for a one-bath home in Berkeley, at $1677. And it continues my perfect track record for having every one of my listings sell over list, regardless of the market, now over 28 years. I know there’s some luck involved, but I also know that the harder I work, the luckier I become!
I’m especially thrilled for my seller, given the market context. Earlier this week we heard the review of the third quarter performance, and the picture was mostly of declining sales prices, and escalating cancelation rates. It is no secret that even the loveliest neighborhoods in Oakland have been struggling lately, largely because of very bad press about crime. But even I was surprised to learn that 39% of Oakland listings failed to sell during this past quarter, with 21% of Berkeley listings failing to sell. For more information about third quarter market behavior, take a look at the following article.
While it’s a joy to be “Listing Queen for a Day,” it’s a very different feeling when representing buyers. I have a lovely new client who is looking for a home much like my Fresno listing in size, style and location. I would never have recommended that she offer over $2 million on that property, and that now sets a new high mark for similar properties in North Berkeley. Our jobs as Realtors really force us to be like the lyrics of the Joni Mitchell song: “I’ve looked at life from both sides now!”
Last week I had the honor of interviewing our State Senator, Nancy Skinner. This was part of a long-term lecture series for the Hillside Club, and one that I coordinated for four years as VP of the Club. I called it “A Candid Conversation,” and I hope that those who were there in the room, or on Zoom, enjoyed getting a behind-the-scenes look at what it’s like to be a legislator, and how some of our key bills on housing as well as the environment came to be law. You can listen to the interview here (edited with stills, as the original video was not satisfying)
During the interview, I mention a film that I saw a couple of weeks ago as a fund raiser for the Ecology Center. The film is enlightening, both about the specific issue of the Sugary Drinks tax movement, but also in showing how government actually works. This was a case where Big Soda used its lobbying powers to defeat a measure with clear benefits to many communities. If you’d like to see it, there will be an additional showing next week:
Tuesday, October 22, 7 – 9 pm at the New Parkway in Oakland. Between the Sun and the Sidewalk, a powerful documentary about one community’s fight against Big Soda. This film follows two fiercely dedicated young Latino political organizers leading a team of new recruits to mobilize their community to support a sugary drink tax. When the state government passes a stealth law to ban all local soda taxes until 2030, these young activists fearlessly battle the corporate lobbying efforts to block them. Sponsored by The Ecology Center.
If you do watch the film and you live in Berkeley, I am quite sure that you will be motivated to vote Yes on Measure Z, which will remove the January 1, 2027 expiration date and extend indefinitely the general tax on sugary drinks and sweeteners at 1 cent per fluid ounce. The original measure passed with more than 75% of the vote in 2014, with positive results: since the tax took effect, consumption of sugary drinks has declined, water consumption has gone up, and obesity rates have dipped among Berkeley kids. “Sugary drinks are proven risk factors for many health problems, including obesity, Type 2 diabetes, cardiovascular disease, tooth decay, and some cancers,” the argument for the measure reads in part. “Almost 50% of African American and Latino children are predicted to get diabetes in their lifetimes.”
In addition to the health impacts, proponents of the tax said its revenue helped pay for gardening teachers in all 17 schools and supported tens of thousands of health and dental screenings for low-income residents. Measure Z requires a simple majority to pass. I don’t often suggest a specific vote, but this one really feels like the right thing to do. And of course, the most important thing is to VOTE!
Some of you may know that I LOVE Halloween! As Halloween falls on a Thursday this year, the Ecology Center is turning the North Berkeley Farmers Market that evening into a celebration, with pumpkin carving, lessons for making paper flower offerings for Dia De Los Muertos, and a DJ spinning spooky tunes. Read more about It here. Not sure yet whether I will bring out my inner witch, but you can be sure I’ll be in costume. I’d love to hear what is your favorite costume!
This is a scary time for sure, so a little playfulness, as well as some serious honoring of our ancestors may help get us through the anxiety of these last few days before the election. May Democracy and hope win, along with love for our neighbors. Always.
Arlene
P.S. I was surprised to learn that I ranked #12 by dollar volume in Oakland over the past 12 months. What matters is the positive results that represents for my sellers (and all those transactions were listings).
