C'est le Buzz: Price $0
There is a trend in the marketplace right now where the sales price of some homes is not listed in the multiple listing service at close of escrow. This requires a special form and normally is requested by the buyers. They want their privacy. Why? They don't want their neighbors to know how much money they have or they don't want the public knowing how much over the asking price they paid for their new home. On June 13th, the MLS changed the rules stating that the actual sales price must be entered on all listings. This new ruling is to go into effect by mid-July 2014. This will make life a lot easier for agents and appraisers as well.
We are also closely watching the prices. In the midst of all the oh wows, the reality is that the high end market is not totally back to the 2006 market. In fact, some of the high end listings in Piedmont are sitting. In the Claremont district, we are seeing some sales drifting toward the three million mark but not four million which we did see in the 05/06/07 market.
The hottest market right now in the East Bay with the potential for upward movement is in the area called NOBE .This name describes a collection of neighborhoods including north Oakland, Berkeley, and Emeryville. Neighborhood activists feel that long time residents are being forced out by increasing prices and development.
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