To arm or alarm?

One of the worst things about showing a house is when there is an alarm on it. Sure, the listing agent does their best to explain to you how to deactivate it, but that doesn't always help when your heart rate is shooting through the roof and all you can hear is the "beep...beep...beep."

At one house, neither the client nor I could find the keypad. So we set it off.

At another house, I made my client punch in the code.

Just recently, I came across a lockbox that, as soon as I opened it, said "alarm code 1524." Just great. Thanks, dear listing agent, for putting a note into the MLS!

If you are a seller, what does an alarm mean to a potential buyer? We certainly know how I feel about it. But what about the buyer? This past weekend I took out a client who was from out of town. His comment? "Is this a bad neighborhood?" We were in the Berkeley Hills.

Here is the flipside: if a buyer walks in and sees the alarm pad, but it isn't activated, they want to know if it works. They like the idea that their home could have an alarm.

But if it does have a working alarm, and it's on, panic sets in.

My advice is to turn off the alarm while it is on the market. Is their something you are protecting? Valuable artwork? Jewlery? If so, you should be removing all valuables from your home anyhow as they could become damaged or stolen. Consider setting set hours for agents to bring clients to your home; during that time the alarm is deactivated. Then when you are home, activate it.

If you do not have an alarm, but are thinking about getting one, many home security companies will offer a free security assessment of your home. Most alarms companies charge an installation fee (I've seen them as low as $300) and a monthly maintenance fee. But if an alarm isn't your forte, perhaps you should consider a dog.

Don't let those credit bureaus exploit you!

Here are some facts about credit bureau's:

1. Credit bureaus sell elads to banks and mortgage companies

2. Pricate information divulged includes address, phone number, and credit score

3. Banks pay $25 - $100 per lead

4. No legislation exists yet to prevent bureaus from selling leads

5. Onslaught of unsolicited marketing as soon as the loan application si submitted

6. May lower your credit score 10 to 15 points

7. Opt out! www.optoutprescreen.com

The East Bay market- it's on fire!!

It's hot, hot, hot! Despite what the media has portrayed over the past 6 months, our market still has its game.

• Last week a 2 bedroom/1 bath home in El Cerrito had 8 offers.
• Two weeks ago a condo in North Oakland had 5 offers.
• This week a 2 bedroom/1 bath home in the Berkeley Hills had 16 offers.
• Next week? I predict multiple offers on a tiny house on Everett in El Cerrito and even more offers on a "deluxe fixer" in Rockridge.
  

Bubble? Not in my hood!

But isn't this what happens every Spring? Part of understanding where we are is looking at where we have been. Let's look at the number of solds over the last 3 years:

..............Feb .....Mar .....Apr ......May
2005 ......256 ......406 ......437 ......435
2006 ......226 ......306 ......356 ......366
2007 ......194

March and April are generally peak times in the market. But why now? Why in the midst of foreclosures and lower sales are we still seeing multiple offers? Because the buyer's never left. And the money is still cheap. And it's the Bay Area, land of...well...no land.

Ode to February

Goodbye February, Hello Mayor!

1. Unbelievable. Did you know that some 14 percent of all Americans have more than 10 credit cards? This according to a recent study conducted by Experian Consumer Direct, a leading provider of online direct-to-consumer credit reports, scores and monitoring products. When will all of this crash the economy?

2. Phew! Mortgage rates eased back down as the month draws to a close. The 30-year fixed-rate mortgage averaged 6.22 percent for the week ending Feb. 22, down from the previous week when it averaged 6.3 percent. Last year at this time, the 30-year FRM averaged 6.26 percent. Hip hip hooray! Lock in this low rate today!

3. Multiple what? We are seeing moderate activity throughout most areas of the East Bay. This past week alone I have seen multiple offers on homes, including one in Oakland and one in El Cerrito. In Berkeley, more units have gone pending in the past week than we have seen in the past few months.

4. Bubbles are for baths. The media still hasn't determined whether or not there is a bubble- they are at war with themselves.

5. JetBlue- who? sent out personal emails, went on local talk shows, and even posted a video on YouTube apologizing for their "miscommunication" flaws following the recent irreverent weather conditions on the East Coast. Gee, thanks.

6. More goo. www.gootube.net, an online real estate video portal, complete with the google mapping system, is released.

7. Go orange! The American Institute of Architects' 150th anniversary celebration included our very own Golden Gate Bridge as one of the top 150 architectural gems.

8. Senator Hillary Clinton officially announced her candidacy for president and took the stage in presidential real estate politics. Sen. Clinton will co-sponsor a bill which will bar banks from real estate brokerages. Woah, Nelly! Could someone in politics actually be in favor of Realtors and consumer concerns?

9. Unzip the zillows. Zillow. com is under scrutiny once-again. There is a new phrase attached to Zillow- "unzillowable." If something is unzillowable, it is unable to be valued by the popular website zillow.com. Items which determine value include noise, traffic, views, paint, and the neighbor's dog. Wouldn't it therefore be plausible to say that no property can obtain an accurate "zestimate" from Zillow?

And finally, #10. It isn't real estate related, but it is definately noteworthy.

10. Gavin Newsom...need I say more?

Chicken and Waffles?

Many of you who know me know that I love food! If you are looking for a taste of retro East Oakland, look no further.

Today I had lunch with some clients at Merritt Bakery in Oakland. I have had their cakes, but never actually sat down at the restaurant.

The hostess, who called me "hon," immediately looked at us and with a wink and a smile, said "Feel free to sit wherever!"

We went towards the back. The menu offers a large variety of typical diner food: Fried Chicken (I think there were 4 peices) complete with corn, potatoes, and a salad. Or how about the HUGE Club sandwich with enough meat to feed a family of four.

But that isn't what people come here for. It's the house fav: Chicken "n" Waffles.

It comes with 2 pieces of mouth-watering fried chicken and an enormous waffle- all piled on top of each other- and a bottle of syrup on the side. Who can resist this?

Committed to their neighborhood, this downhome diner is a part of Oakland not to be missed. The next time you are taking a walk around the lake, stop by for a piece of pie.

Merritt Bakery
203 E. 18th. St. (at 2nd Ave & 3rd Ave)
Oakland, CA 94606
(510) 444-6955