We all have a unique idea of home. East Bay homes come in a variety of different styles and sizes, so there’s something for everyone to choose from. It’s an area that is in demand and certain to only gain in popularity in the coming years, meaning these homes will continue to appreciate in value. Of course, a home is more than just a place to live; it’s also a reflection of your lifestyle. With that in mind, there are some interesting things that East Bay homes are known for. This article delves into those key points, such as how homes are priced in the East Bay real estate market. We will also address the individual attention that is given to East Bay homes that makes them so highly appealing to home buyers. Read on to learn more.
Listing Homes Below the Desired Price
Homes for sale in the East Bay Area are known for being a bit unusual in comparison to other houses listed on the real estate market. This is due to a different type of pricing culture. Instead of starting high, they start low. The fact is that East Bay homes are usually listed below the actual price that homeowners and real estate agents expect them to sell for.
Here are some numbers to back up this point… During the first half of 2019, some single family homes sold for as much as, or up to, nineteen percent over the original price they were listed for. The trend is that the average home in the East Bay is sold for at least ten to thirteen percent more than the sticker price, if not more.
This trend of listing homes below the desired sale price has become an established practice for many decades. It’s important to understand this distinction in the East Bay real estate market in order to plan accordingly when you make an offer. This phenomenon is perhaps the most apparent in the Inner East Bay.
Making the Right Offer
All in all, the general thought is that when a home is listed with a more attractive price, it draws more notice from potential buyers. It also makes a bidding war more likely, further driving up the price of the home, as well as the profit. It may not seem straightforward, but it’s something that sellers are able to do in such a desirable part of the state.
You can see why it’s so important to work with a skilled real estate agent if you’re shopping for an East Bay home. Expect that when you finally make an offer on a home in the East Bay, your realtor will advise you to go over the asking price.
There’s no set percentage for how much more to offer, but a good agent will have some idea of a fair price based on the home and its neighborhood. This can seem counter to the way things are usually done, because they are. It’s simply part of the local real estate culture. Although, in recent years, some houses are being listed more closely to the desired price. This tends to happen when the market is flooded and buyers have more homes to choose from.
The East Bay includes homes from Oakland all the way to Richmond. Most houses in these areas are well cared for and meticulously maintained. This is important because if your neighbors don’t manage the upkeep on their own homes, it can drive down the value of all the surrounding properties in a neighborhood. The truth is, homes that look properly groomed with lovely yards, professional landscaping, and an overall sense of tidiness draw much more interest from home buyers. Even if you have no future plans to sell, this is worth considering in selecting a neighborhood because it is sure to influence the value of your home if you ever change your mind and decide to put it on the market.
So Many Styles of East Bay Homes to Choose From
There’s a wide variety of beautiful homes to choose from in the East Bay. Of course, your preferences will likely depend on your lifestyle. For instance, if you have children, you’ll need more space than a single professional, and the local schools will probably factor into your considerations. Or, if you enjoy gardening or want pets, a big yard is probably on your must-have list. From a condo with a view, to a historic home with room for a growing family, there’s something for every aesthetic and lifestyle.
Realtors are Matchmakers
As mentioned above, real estate is about more than just the architecture of a house because home is much more than a place to eat and sleep. The Bay Area is more expensive than most parts of the country, so buyers expect homes to meet their lifestyle needs. There are a lot of unique designs in the East Bay that you won’t find anywhere else.
For this reason, realtors specialize in matching buyers with their perfect home. This is a real skill that involves careful listening, as well as in-depth knowledge of the market. For example, different buyers could both be searching for a four bedroom listing with three baths, but still ultimately want completely different things in their ideal dream homes. So, a good realtor will also take into consideration all the must-haves of a client, such as the style of the home. There are modern home designs, Mediterranean style houses, minimalist designs, cozy bungalows, and enticing mid-century homes, just to name a few popular looks.
Buying a home is a little bit like falling in love. It can be an emotional process, and it’s easy to get attached to a home, even before you know everything about it. The bottom line is that most home buyers will know a house is the one for them when they lay eyes on it. In this way, a good real estate agent is a lot like a matchmaker.
A Strong Market
Most people think of San Francisco when the Bay Area comes up in casual conversation, but one thing people often aren’t aware of is that the East Bay Area real estate market is thriving as its communities grow. Not only is it more affordable than San Francisco real estate, but the East Bay is a happening place that is sure to remain in high demand, especially among new buyers who are trying to enter the local real estate market for the first time and finding the peninsula is out of their price range. In some instances, the East Bay can provide a higher quality of life than other communities in the Bay Area. This is because it doesn’t carry the same financial burden, while also having so much to offer. Although, the average cost of homes continues to rise as locals relocate to the East Bay, drawn to the extra sunlight and space, and less traffic.
Home Sweet Home
Finding the right home can be challenging, but it’s worth taking your time to be methodical about the process. If you’re looking at houses in the Bay Area, definitely make some time to scope out the beautiful homes in the East Bay. You might just fall in love. For one thing, it tends to be warmer than the foggy peninsula, which is nice if you enjoy being outdoors. All in all, the Easy Bay is a great community to invest in, whether you’re a single professional, or raising a family.
Do you have questions? For more information on listings or local neighborhoods, please contact us at The Laura Wucher Real Estate Team. Our Walnut Creek office is available until 7PM. Reach us by phone at (925) 595-8047, or fill out this easy contact form. You can also chat with a live support agent directly on our site.