Real Estate in Oakland, Berkeley and Piedmont, California » Market

Laurel District Bungalow for sale on Maybelle Ave Oakland

agentevo — Thu, 02 Sep 2010 19:31:29 +0000

This adorable 1 bedroom California Bungalow has got to be one of the cutest (and least expensive) homes for sale in the Laurel District of Oakland. It was purchased by a contractor and extensively brought back to life. He paid attention to retaining the original character that is present in many of the Laurel District homes. The home is 1 bedroom, 1 bathroom, kitchen, living room and adorable side patio-garden.

If you do the math, it is likely that you could purchase this Laurel Bungalow for less than it would cost to rent elsewhere. Listed at $175,000 it truly is a great value.

My name is Brian Santilena and I’ve been selling homes in Oakland since 1998. If you would like more information about this Laurel District Bungalow or properties in other terrific Oakland neighborhoods please feel free to drop me a note.

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Mortgage Broker info for home buyers

BrianS — Sun, 06 Jun 2010 22:42:50 +0000

Home buyers that are considering purchasing a home in Oakland, Piedmont or Berkeley California will inevitably find themselves communicating with a mortgage broker or a retail bank about obtaining a mortgage. This short video answers some basic questions about the differences between banks and brokers, what are loan points, reasons to use a local institution and information of the pre approval process. It is not intended to answer every question but as a home buyer I hope it will provide you with a starting point of which to begin building your understanding of the overall home buying and loan process.

Click here to view the embedded video.

Brian Santilena, Sr. Sales Associate and top real estate agent with Pacific Union Real Estate, representing home buyers and home sellers in the Oakland Hills, Berkeley Hills and Piedmont California marketplace since 1998. He is a Realtor, Certified Residential Specialist(CRS) and is highly knowledgeable in real estate for sale in the Oakland Hills premier neighborhoods such as Haddon Hill, Rockridge, Montclair, Glenview, Trestle Glen, Crocker Highlands, Oakmore, Laurel District and Redwood Heights. Berkeley Hills neighborhoods such as Northbrea, Westbrea, North Berkeley Hills, Berkeley Flats, Thousand Oaks, South Berkeley, Gourmet Ghetto, Elmwood, Uplands, Claremont, LeConte. City of Piedmont, City of Kensington, City of Albany. Please feel free to CONTACT BRIAN if you have any real estate needs in Oakland, Berkeley or Piedmont CA.

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How does a late mortgage payment affect my FICO score?

BrianS — Mon, 03 May 2010 21:29:19 +0000

Even in the better parts of the Oakland Hills such as Piedmont, Montclair and Rockridge homeowners occasionally get into a financial pinch that can lead to a late mortgage payment. If you’re delinquent on your mortgage, your credit score will suffer. Everyone knows that. The question is, by how much? Until recently, those answers were hard to come by. Fair Isaac, which developed FICO scores, pulled back the curtain a bit, revealing some estimates of point-score declines following mortgage delinquency problems.

Here is the average hit your credit will take:
30 days late: 40 – 110 points
90 days late: 70 – 135 points
Foreclosure, short sale or deed-in-lieu: 85 – 160
Bankruptcy: 130 – 240

Some borrowers may think that because they never missed a payment, they can “walk away” from their homes with relatively little impact on scores. Not true. “When a deed-in-lieu or short sale is reported as a partial payment, it’s treated as a serious delinquency,” Watts said, “just like a foreclosure.”

Even if borrowers made payments faithfully for years before short selling or doing a deed-in-lieu, their credit score will still take a hit. The total decline will run about 85 points for the 680 score borrower to as much as 160 for the 780 score.

Mortgage debt, combined with other financial problems, can send borrowers into bankruptcy, the worst thing that can happen to your credit score.
Thanks to Rodger Smith at LaSalle Financial for this great info.

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Homes Sold in Upper Rockridge Q1 2010

BrianS — Sun, 18 Apr 2010 03:20:29 +0000

This Upper Rockridge real estate sales report covers single family homes that have sold in Oakland’s Upper Rockridge district during the fourth quarter of 2009.

Click here to view the embedded video.

Brian Santilena is a resident and has been selling Upper Rockridge 1998. If you would like more details about buying or selling in Upper Rockridge please call Brian directly at Pacific Union Real Estate 510.338.1380. For up to date details of homes on the market and comming soon please become a Fan of my Homes In Upper Rockridg on Facebook.

15 MARGUERITE DR
1 BEDROOM
1 BATH
1056 SQFT
SOLD AT $550,000
16 DAYS ON THE MARKET

115 MANDALAY ROAD
3 BEDROOMS
1 BATH
1310 SQFT
SOLD AT $613,550
58 DAYS ON THE MARKET

228 FLORENCE AVE
2 BEDROOMS
1 BATH
1466 SQFT
SOLD AT $755,000
10 DAYS ON THE MARKET

4401 HARBORD DRIVE
3 BEDROOMS
2 BATHS
2364 SQFT
SOLD AT $900,000
8 DAYS ON THE MARKET

5039 PROCTOR AVENUE
4 BEDROOMS
3 BATHS
2300 SQFT
SOLD AT $995,000
14 DAYS ON THE MARKET

30 WILDING LANE
3 BEDROOMS
2 BATHROOMS
2172 SQFT
SOLD AT $1,130,000
12 DAYS ON THE MARKET

54 STARK KNOLL PLACE
3 BEDROOMS
2 BATHS
2018 SQFT
SOLD AT $1,405,000
10 DAYS ON THE MARKET

59 BOWLING DRIVE
5 BEDROOMS
6 BATHS
6000 SQFT.
SOLD AT $3,200,000
OFF MARKET SALE

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Upper Rockridge Q4 2009 Homes that have Sold

Brian Santilena — Tue, 02 Feb 2010 20:31:30 +0000

This Upper Rockridge real estate sales report covers single family homes that have sold in Oakland’s Upper Rockridge district during the fourth quarter of 2009.

Click here to view the embedded video.

I am a resident of Upper Rockridge and a long time real estate agent that specializes in the area. You are welcome to contact me via email or call me directly at my Pacific Union Real Estate office 510.338.1380. Thank you. Brian Santilena.

5523 Estates Drive
4 bedrooms
3 bathrooms
2382 sqft
$601,400 sale price
$252.00 price per sqft
31 days on the market

5925 BROADWAY
3 bedrooms
2 bathrooms
2230 sqft
$610,000 sale price
$274.00 price per sqft
58 days on the market

39 HARBORD CT
2 bedrooms
2 bathrooms
1270 sqft
$670,000 sale price
$528.00 price per sqft
58 days on the market

5615 MASONIC AVE
4 bedrooms
3 bathrooms
2800 sqft
$805,000 sale price
$288.00 price per sqft
108 days on the market

5766 HARBORD DR
4 bedrooms
3 bathrooms
3131 sqft
$834,000 sale price
$266.00 price per sqft
45 days on the market

5862 VIRMAR
2 bedrooms
2 bathrooms
1401 sqft
$856,000 sale price
$611.00 price per sqft
13 days on the market

4878 HARBORD DR
4 bedrooms
3 bathrooms
2199 sqft
$860,000 sale price
$391.00 price per sqft
6 days on the market

5132 COCHRANE AVE
4 bedrooms
2 bathrooms
3562 sqft
$936,000 sale price
$263.00 price per sqft
134 days on the market

5062 COCHRANE AVE
3 bedrooms
2 bathrooms
2347 sqft
$987,000 sale price
$421.00 price per sqft
15 days on the market

40 SONIA ST
4 bedrooms
3 bathrooms
2937 sqft
$1,062,000 sale price
$362.00 price per sqft
120 days on the market

35 CONTRA COSTA PLACE
4 bedrooms
2 bathrooms
3620 sqft
$1,150,000 sale price
$318.00 price per sqft
57 days on the market

6173 Ocean View Drive
4 bedrooms
3 bathrooms
3573 sqft
$1,186,000 sale price
332 price per sqft
86 days on the market

6126 OCEAN VIEW DR
4 bedrooms
4 bathrooms
3478 sqft
$1,254,000 sale price
$361.00 price per sqft
7 days on the market

5747 BUENA VISTA AVE
5 bedrooms
3 bathrooms
4223 sqft
$1,600,000 sale price
$379 price per sqft
7 days on the market

5420 GOLDEN GATE AVE
4 bedrooms
4 bathrooms
5168 sqft
$1,950,000 sale price
$377 price per sqft
96 days on the market

6076 MANCHESTER DR
5 bedrooms
4 bathrooms
6122 sqft
$4,800,000 sale price
$784 price per sqft
14 days on the market

Brian Santilena, Sr. Sales Associate with Pacific Union Real Estate, has been representing home buyers and home sellers in the Oakland Hills, Berkeley Hills and Piedmont California marketplace since 1998. He is a Realtor, Certified Residential Specialist(CRS) and he’s highly knowledgeable in the Oakland Hills premier neighborhoods such as Haddon Hill, Rockridge, Montclair, Glenview, Trestle Glen, Crocker Highlands, Oakmore, Laurel District and Redwood Heights. Berkeley Hills neighborhoods such as Northbrea, Westbrea, North Berkeley Hills, Berkeley Flats, Thousand Oaks, South Berkeley, Gourmet Ghetto, Elmwood, Uplands, Claremont, LeConte. City of Piedmont, City of Kensington, City of Albany. Please feel free to CONTACT BRIAN if you have any real estate needs in Oakland, Berkeley or Piedmont CA.

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Want to find out if Fannie or Freddie owns your Mortgage?

Brian Santilena — Tue, 10 Nov 2009 20:03:09 +0000

In the past it has been much more difficult to find out if federally owned mortgage giant Fannie Mae or her brother, Freddie Mac, is the owner of your mortgage. It has become important, because only their loans are eligible for the fedrial governments new refinancing program for people that have less than 20 percent equity in their home.

It is now much easier!

It isn’t overly apparent to most people about who owns their mortgage. The company that originated your loan will often continue to collect the monthly payments and send out statements after they sell the loan to Fannie, Freddie or other investors.

The refinance plan, part of the new Making Home Affordable program, serves people whose Fannie or Freddie loans are for 80 to 105 percent of their homes’ value.

At first, officials said the only way to find out if Fannie or Freddie owned their mortgage was to call their loan servicer. Now, both Fannie and Freddie online look up pages to make your inquiry that much easier

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Best house on Brokers Tour November 2, 2009

Brian Santilena — Mon, 02 Nov 2009 19:14:17 +0000

Monday’s Brokers tour consists of properties in southern and eastern Oakland and the city of Piedmont. There are lots of good properties out there but the one that stood out to me was 6300 Estates Drive in Oakland CA 94611 Oakland’s Piedmont Side of Montclair. It’s a smaller Spanish Mediterranean style home very close to the Montclair Village and just a short drive to Rockridge.

This is NOT my listing. I just think it has great potential. The lot is large and southwest facing. Trimming the trees will allow the sunlight to flood the lot yet retain privacy. Across the street is the Blair reservoir so you will never have to worry about noisy neighbors across the street. For the assertive Buyer the home is ripe for a second story addition. Adding another level, something like a master suite with decks may even capture a San Francisco view in the distance. The bedrooms have walls of multi pane windows overlooking a large rear garden. It’s set on a mild down-slope. Not to steep yet open and airy.

This home sold in October 2007 for $1,060,000. Now it’s on the market for $969,000. That’s 10% off ! Who knows, since it’s been on the market 2 months now it may even be able to be purchased for less.

3 bedrooms
2 bathrooms
1599 interior square feet
18,000+ lot size
Built in 1925

The property is listed by Sotheby’s and for the online tour click here: http://www.visualtour.com/applets/flashviewer2/viewer.asp?t=1982334&sk=46

Brian Santilena has been representing home buyers and home sellers in the Oakland Hills, Berkeley Hills and Piedmont California marketplace since 1998. He is a Realtor, CRS Certified Residential Specialist and Sr. Sales Associate with Pacific Union Real Estate. He is highly knowledgeable in the Oakland Hills premier neighborhoods such as Haddon Hill, Rockridge, Montclair, Glenview, Trestle Glen, Crocker Highlands, Oakmore, Laurel District and Redwood Heights. Berkeley Hills neighborhoods such as Northbrea, Westbrea, North Berkeley Hills, Berkeley Flats, Thousand Oaks, South Berkeley, Gourmet Ghetto, Elmwood, Uplands, Claremont, LeConte. City of Piedmont, City of Kensington, City of Albany. Please feel free to CONTACT BRIAN if you have any real estate needs in Oakland, Berkeley or Piedmont CA.

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Oakland Real Estate Market 10/13/09

Brian Santilena — Tue, 13 Oct 2009 17:58:20 +0000

At our Pacific Union office meeting this morning in the Oakland Montclair office some interesting topics were discussed.

It is sounding more and more likely that the first time buyer’s tax credit that was implemented as part of the stimulus package will be going away on November 30, 2009. The government has extended the program for Veterans however. Some think that the entire program will be extended but there is no consensus.

FHA loans have avoided the appraisal pitfalls that the conventional market has experienced lately because FHA has continued to allow the mortgage brokers to choose the appraiser. Now some of you may be thinking that it’s a good thing NOT to have a mortgage broker choosing the appraiser. In general I’d agree with you. However, if the appraiser is instead chosen by the lowest fee or by a lottery system, the appraiser may be completely out of touch with the market place he’s being asked to review. You can see the potential for poor service and/or appraisal results. I chalk this up to “unintended consequences from well intentioned laws.” It is rumored that FHA is now moving toward the same appraisal guidelines of the conventional market. We will see how things turn out. Time lines for escrows are creeping up to the 40-45 day mark. This is due mainly to lender delays. A home sale without a loan can close in a matter of 5-7 days. When a lender is involved and all of the appraisal, underwriting, verification, loan docs etc. are involved it takes more time. If any one of the steps in the process is delayed, it puts a Buyers good faith deposit at risk even if the delay is comes from your lenders non timely performance.

Brian Santilena has been representing home buyers and home sellers in the Oakland Hills, Berkeley Hills and Piedmont California marketplace since 1998. He is a Realtor, CRS Certified Residential Specialist, liscened contractor and Sr. Sales Associate with Pacific Union Real Estate. He is highly knowledgeable in the Oakland Hills premier neighborhoods such as Haddon Hill, Rockridge, Montclair, Glenview, Trestle Glen, Crocker Highlands, Oakmore, Laurel District and Redwood Heights. Berkeley Hills neighborhoods such as Northbrea, Westbrea, North Berkeley Hills, Berkeley Flats, Thousand Oaks, South Berkeley, Gourmet Ghetto, Elmwood, Uplands, Claremont, LeConte. City of Piedmont, City of Kensington, City of Albany. Please feel free to CONTACT BRIAN if you have any real estate needs in Oakland, Berkeley or Piedmont CA.

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How to successfully negotiate as a home buyer

Brian Santilena — Tue, 22 Sep 2009 20:09:36 +0000

I can’t believe how many of today’s home Buyers and home Sellers believe that “take it or leave it negotiations” are productive. I’ve negotiated over 200 transactions of my own as well as another 100 for other agents as a real estate office manager in the city of Piedmont. A simple rule that I recommend following is to never be the one to end the conversation. For example, I’m representing a home buyer who has made an offer on an Oakland Hills home. The property is listed for $825,000 and has been on the market 35 days with no price reductions. My Buyer writes an offer at $780,000. The Seller counters at $815,000. My Buyer responds back at $790,000. The Seller then comes back at $810,000. At that point my Buyer essentially slams their hand on the table saying “$790,000 is my final price.”

In this market a Seller, by negotiating is making sure that they are squeezing as much value out of their home sale as possible. The Buyers, while reading in the papers that prices are falling in the Oakland Hills, Berkeley Hills and Piedmont market places, are very concerned about purchasing in a declining market and of course are always looking to get the most house for the least money. So the art of negotiating in real estate isn’t just knowing what TO do, it is often knowing what NOT to do.
Even if my Buyers do the hand slap on the table, I find that a “polite NO” is generally much more effective.

Try this on for size:
Dear Mr and Ms. Seller,
Thank you for taking the time to respond to my clients offer. This is a challenging market and while we understand your position it is important to respect that both sides have their own respective financial realities. These Buyers unfortunately are simply not in a financial position to meet your number. As a good faith gesture and as a sign of their enthusiasm to make your house their future home, they are increasing their offer by $1,000. We realize that this is a far cry from what you are asking but we are hoping that this good faith gesture will ensure that if after another few weeks of marketing your home for sale and if another buyer doesn’t materialize, that there is nothing such as hard feelings that would prevent you from re engaging us. I truly think these are the right buyers for your wonderful home.

Sincerely,
Brian Santilena
Pacific Union Real Estate
Oakland, Berkeley and Piedmont

Brian Santilena has been representing home buyers and home sellers in the Oakland Hills, Berkeley Hills and Piedmont California marketplace since 1998. He is a Realtor, CRS Certified Residential Specialist, liscened contractor and Sr. Sales Associate with Pacific Union Real Estate. He is highly knowledgeable in the Oakland Hills premier neighborhoods such as Haddon Hill, Rockridge, Montclair, Glenview, Trestle Glen, Crocker Highlands, Oakmore, Laurel District and Redwood Heights. Berkeley Hills neighborhoods such as Northbrea, Westbrea, North Berkeley Hills, Berkeley Flats, Thousand Oaks, South Berkeley, Gourmet Ghetto, Elmwood, Uplands, Claremont, LeConte. City of Piedmont, City of Kensington, City of Albany. Please feel free to CONTACT BRIAN if you have any real estate needs in Oakland, Berkeley or Piedmont CA

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Pitfalls of purchasing a REO forclosed home in Oakland and Berkeley Hills CA

Brian Santilena — Wed, 06 May 2009 23:12:32 +0000

Though REO (bank owned) properties, foreclosures and short sales are much less common in the Oakland Hills, Berkeley Hills and Piedmont real estate communities, the worsening economy is resulting in these type transactions becoming more prevalent. Many of today’s Oakland Hills home buyers want to see how they can take advantage of this situation. Finding a foreclosure in the Oakland Hills is a relatively easy. It’s closing the deal on a foreclosure that poses the most challenges. Banks usually list their foreclosed properties after talking to several real estate brokers. Even if they list at a lower than market price, any property that is located in one of the better Oakland Hills neighborhoods like Montclair, Upper Rockridge, Glenview, Crocker Highlands, Trestle Glen, North Berkeley, Elmwood etc. there are still several prospective home buyers lined up to make offers. Buyers are then faced with an escalating purchase price through competition.

If you are really looking to get yourself in a good position to buy a discounted foreclosed property here are a few suggestions:
1) Get your financing together. At the minimum you need to be FULLY pre-approved for your loan. If you are able to make an all cash offer you can save even more.
2) Expect delays and a lack of professional courtesy by the (Seller) bank. Time lines are almost non existent. You may submit your offer and not get a response for weeks (if at all.) Closing can be delayed substantially if the bank thinks a better offer than yours may come in.
3) Have realistic expectations about the condition of the property. Foreclosed homes have usually been vacated by the prior owner who was not very happy when they vacated. Banks do the very minimum when preparing for a sale.
4) If you are getting a loan, be sure that you maintain an appraisal contingency. If your lenders appraiser reports the property to be in poor condition, your lender may choose not to loan on it. If you’ve removed your appraisal contingency already, your deposit may be forfeited. Also confirm with your lender that you can extend your interest rate lock if the escrow drags on. You don’t want to let go of a great interest rate lock because of unexpected delays.

With great opportunity comes great risk. Do your homework and get prepared. If you do, you just may save yourself a bundle of money.

I have been counciling home Buyers in the city of Oakland since 1998. If you are looking to purchase or sell a home in the Oakland Hills, Berkeley Hills, Piedmont or the surrounding communities, I’d love to hear from you. Thank you. Brian Santilena Realtor with Pacific Union Real Estate Oakland-Montclair.

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