September 2024 - Greater Bay Area - Market Update

 

As we welcome September, we celebrate and honor the hard work and achievements of American workers. This holiday, observed on the first Monday of the month, has its roots in the labor movement of the late 19th century, a reminder of the dedication that built our communities. For many, Labor Day also marks the unofficial end of summer and the beginning of a new season of real estate opportunities.

 

This year, we're seeing positive signs in the market, with **a 1% drop in mortgage rates** that has already led to improved home sales. If you've been thinking about buying or selling, now is a great time to take action, as this trend is giving buyers more purchasing power and sellers more competitive offers.

 

Looking ahead, we're also anticipating a potential **further drop in rates** if the Federal Reserve moves forward with its expected interest rate cut in mid-September. This could create even more favorable conditions for buyers, making it an exciting time for anyone looking to make a move in the market.

 

Here are some tips as we move into the fall market:

 

**Get your home fall-ready.**

 

As the weather cools, buyers are looking for well-maintained properties. Consider adding seasonal touches to your home’s decor and ensure your exterior is in top shape.

**Take advantage of the current market shift.**

 

With mortgage rates dropping, you can lock in more affordable financing, giving you a competitive edge whether you're buying or selling.

 

**Stay informed.**

 

If you're waiting for the potential interest rate cut, now is the time to prepare your finances and get pre-approved for a loan so you can act quickly if rates drop further. Enjoy the long Labor Day weekend, and if you’re ready to take advantage of the improving market conditions, We're here to guide you every step of the way!

 

- Tia Hunnicutt, LIC #01840070

 

Find out about your property’s past to help you plan for the future

 

 

A shortage of homes for sale across America can lead to some buyers making rash decisions to win a property against other interested parties.

This is dangerous – by all means fall in love with the home of your dreams, but you must know exactly what you are buying.

 

 

2 bedrooms | 2 bathrooms | 1,141 sqft

$674,000

Seize this rare opportunity to live around a lake with this well-maintained 2 BR, 2 BA condominium, situated in a classic mid-century modern building across the street from beautiful Lake Merritt. Located on the first floor, the 1200 sf unit features an open concept floor plan with an entire wall of sliding glass doors that provide a bright, sunny living space and a large outdoor patio adjacent to the pool. The two bedrooms are spacious: the primary bedroom features an ensuite bathroom, while the second bedroom includes a built-in Murphy bed for use as a guestroom, studio, or office. The larger main bathroom has a tub/shower and beautiful San Giorgio tile floor. The kitchen is equipped with a smooth glass top electric range for easy cleaning and extra counter space, a built-in microwave, dishwasher, and eating area. The spacious living and dining rooms, combined with the large patio space, are perfect for entertaining. Featuring include three large double-door closets, a pantry, a parking space in a secure garage, and a laundry room adjacent to the unit. Situated in the historic Lakeside District near the Chinatown, Jack London Square, the Grand Lake Farmers' Market, major theaters, Laney College, Whole Foods, cafes, bars, restaurants, gyms, and access to BART and freeways.

 

 

6 bedrooms | 4 bathrooms | 1,918 sqft

$939,000

 

This recently renovated, West Oakland duplex boasts a full three bedrooms and two baths in each unit. An outstanding opportunity for an owner occupant or for an investor offering spacious living quarters with a touch of old-world charm. Featuring original architectural details, ample natural light, new kitchens and bathrooms and a convenient location, this property is perfect for those seeking both character and modern comfort. Upgrades include: completely rebuilt front steps, new washer/dryer, new stove, refinished tub, new shower/tub tile, new light fixtures, new kitchen countertops, new dishwasher, new shower door installed, new dehumidifiers installed with continuous drainage to outside, new exterior foundation slab waterproofing added, installation of drought tolerant patio and trees), new steel privacy door/gate, new wooden gate. EV car charger and Sewer compliant! Offering memorandum available by request.

 

 

1  bedroom | 2 bathrooms | 900 sqft

$1,050,000

 

This stunning 1+bed, 2 bath cottage in one of Oakland's most desirable neighborhoods is a serene retreat nestled in the beauty of the hills. Newly constructed in 2002, this architectural gem features exposed beam ceilings, abundant natural light, radiant, heated tile floors throughout, off-street parking, and an additional room and bathroom below with a separate entrance. Perfect for relaxation and for entertaining, the entryway features French doors which open into a private, sun-filled courtyard. Once inside, soak in the extraordinary design elements of this contemporary masterpiece. The gourmet kitchen features a clever use of space in order to offer plenty of cabinet space for even the most discerning chefs. A true oasis, the upstairs bathroom features marble tile throughout, updated fixtures, and radiant tile floors. The primary bedroom is endowed with impeccable natural wood design elements and lovely verdant views of downtown Oakland/San Francisco Bay. Find yourself in nature as directly outside of the bedroom a lovely yard reveals itself. Enjoy access to excellent public/private schools, and proximity to Claremont Country Club, Temescal Regional Recreation Area, and numerous other local and regional parks. Savor the Rockridge, Piedmont, and Elmwood nightlife/shopping.

 

 

 

1 bedroom | 1 bathroom | 728 sqft

 

$479,000

 

Welcome home to this stylish one bedroom, one bath, second floor condominium nestled in a verdant, gated community in Oakland’s Claremont hills. Featuring a spacious kitchen with tons of storage, abundant natural light, and an airy open floor plan, this home is tailor made for entertaining. The bedroom has a large walk-in closet and is adjacent to the roomy bathroom. The balcony, accessible from both the living room and the bedroom, is exceptionally private and features verdant views of the hills. Deeded parking is located in the garage with convenient access to the elevator. The heated pool, relaxing sauna, fully equipped gym, stylish clubhouse, and on-site HOA are conveniently located. Plenty of guest parking can be accessed throughout the complex. Your dream home awaits! Open Saturday and Sunday!

 

3 bedrooms | 2 bathrooms | 1,236 sqft

$445,000

 

Nestled in the vibrant Stonehurst area of Oakland, this single-story, 3-bedroom, 2-bathroom Contemporary-style home is character-filled and offers the perfect blend of modern design and comfortable living. The open kitchen features stainless steel appliances, granite countertops, and ample cabinets. Windows throughout the home fill the space with natural light. Outside, you'll find a front yard and a nice backyard, perfect for relaxing or entertaining. Conveniently located near I-880,I-580 and minutes from Oakland International Airport, local shops, restaurants, and parks, ensuring everything you need is within reach.

2 bedrooms | 2 bathrooms |1,223 sqft

$540,000

 

A lovely bungalow features modern amenities. It is built as a 2/2 layout, but the additional spaces can easily be converted to 4/2.This home features a spacious primary suite with an open sitting area, office space, and a luxurious soaking tub and jets. The kitchen boasts granite counters, a gas stove, tile flooring, and stainless steel appliances. Enjoy a cozy dining area flooded with natural light, laminate flooring throughout the main living areas, dual pane windows, and central heat and air conditioning. Additional highlights include a bonus room downstairs with indoor laundry facilities and a loft. Outside, discover a serene and low-maintenance backyard perfect for relaxation and entertaining, featuring a deck off the primary suite, a cement patio, and a storage shed. Located conveniently close to I-80 freeway, public transportation and the Vallejo Ferry, this home offers both comfort and convenience.

 

3 bedrooms | 2 bathrooms | 1,344 sqft

$299,000

 

Artfully nestled in wine country, this newly renovated three bed, two bath home boasts an unparalleled view of the oldest lake in North America. Experience modern living with updated bathrooms, flooring, and fresh paint throughout. The open-concept living area, perfect for entertaining, features a cozy stove and large windows that flood the space with natural light. Enjoy cooking in the spacious kitchen equipped with abundant cabinet space and yet another outstanding view of the lake. The spacious primary bedroom includes an ensuite bathroom with a stylish tub and separate walk-in shower. Step out onto your private deck and soak in stunning views of the lake, perfect for morning coffee, evening relaxation, or reveling into the morning hours. The side and back yards offer plenty of space for gardening, outdoor dining, or simply enjoying the peaceful surroundings. Known for wine and farm to table cuisine and warm weather, the area is a hotspot for year round outdoor adventures like canoeing, swimming, and fishing. Continuously inhabited by Pomo Native Americans for over 10,000 years, Lake County has been ranked by the American Lung Association as having the cleanest air in the nation. Near local parks, hiking trails, and all the recreational activities Lake County has to offer!