FAQs
How is the housing market?
The housing market is HOT in the East Bay! Houses are selling faster than ever – many only on the market for a couple of days. We are seeing multiple offers, some homes receiving more than 10 offers! It appears buyers are motivated to buy homes both because of COVID changing their space requirements (desiring more space and an in-home office) and of course the historically low interest rates. Home prices continue to stay strong.
What are interest rates?
Interest rates this week are hovering between 2.75%-3% depending on loan type.
What’s on the market?
477 Mitchell – This property was a lot of fun to work on. It went pending in 12 days with multiple offers. Check out the great photos! 477mitchell.com
Upcoming listings – I am currently working on some great properties. One, a spacious retreat in Oakland with glorious views. The other, a sophisticated and stylish Craftsman Bungalow on the West End of Alameda. Stay tuned for more info.
Alameda Homes For Sale
How low is the inventory?
Alameda – As of June 30, 2020 Alameda is at 62% of single family homes sold as compared to the same time last year.
Oakland – As of June 30, 2020 Oakland is at 69% of single family homes sold as compared to the same time last year.
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Berkeley – As of June 30, 2020 Berkeley is at 60% of single family homes sold as compared to the same time last year.
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Friends,
As always, let me know if I can be of service.
I hope you and your family continue to stay well,
Sophia
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