A Snarky Post About Real Estate

Okay, so, its been a while since I've written anything about the local Real Estate scene.
All the Realtors in town are missing me super bad sooooooo.....

Here is a screen shot from Craig's List Real Estate Section for all the houses for sale in
Alameda.

I know, not super readable but the point is check out how many listings there are.
Know how many listings are for actual houses for sale in Alameda?
Out of 30 listings only five of those CList ads appear to be for actual houses
for sale with the ad being put up by the listing Realtor.
Putting on my math hat for a minute, that means that only 16% of the listings are real...

The rest is just garbage.
Garbage like this.

Honestly, is someone going to look at this ad with the incorrect English and be like,
'Ya, he's definitely the guy for me??'  Maybe he's a great Realtor, I don't know. But
I would definitely not choose this person based solely on this add...

Which BTW, Isn't the Real Estate for sale section on Clist just supposed to be about
Real Estate for sale? Not people pimping themselves? Didn't they get rid of the section?

The vast majority of the noise looks like this.

$635000 Great deal in Alameda, Come to the East End (alameda)

0BR apartment

Three ways to access this listing :
#1 - Cut & Paste this search URL into your browser: http://po.st/5NfspH
#2 - Reply to this ad and we will send you the email link and Information about the house for sale
#3 -- The old fashioned way. . ...Call or text us at 925-286-7112 and let us know how we can
assist you with your property search.

Simon Watson- Keller Williams Realty
Realtor Bre 01881304
925-286-7112........ 510-859-4773
Market Update: November 26th,
NOV 26th Closed a Cal Vet Loan Today in 20 days.
NOV 5th. .We just got out latest VA Client into contract, we beat 6 other offers
including an ALL Cash Deal, Closing Dec 5th
Our Team Has Sold Over 31 Homes In The Last Twelve Months. Call
Us Today If You Are Considering Buying or Selling a home.
 

I love the fact that the links aren't even real.
Cut and paste...really?
Annnnd who clicks on links anymore that look like that?
Sure, I'll click on the hidden link, I'm sure it won't go to a virus-malware filled
pornsite.....

I bet I'm not the only person who is annoyed by this nonsense.
Maybe the realty company hired some company in India to 'aggressively'
market them.....I don't know...

Readers, Alameda house searchers....does this nonsense turn you off as much as it does me?
Honestly, if CList doesn't get on the stick and do something about it I bet all the legitimate ads
are going elsewhere....

Sorry CList you know I love you (a bit too much) but this is just ridiculous.

Crazy Alameda Real Estate

Let's talk serious about the state of Alameda Real Estate.
I mean, what the hecks going on?

Crazy Micro-Bubble 
I've been talking to several families looking to buy a house in Alameda. They keep getting shut out of the bidding. One recent sale went famously for $100k over asking!
There are just basically no houses on the market. In all of Alameda there are less than 30 houses on the market.
From talking to people here's what I believe is happening, its a bit of a perfect storm for Alameda real estate.
Very low inventory, very low interest rates and wealthy-ish folks coming over from Frisco to buy houses in Alameda.
I spoke with one wealthy-ish family and they were 0-24 in bidding on houses in Frisco! They are fed up with the situation there and came to Alameda where their real estate bucks would go farther.
I believe that they are not the only people in that situation.
Alameda used to be sorta a 'hidden gem' but its been discovered by wealthy-ish folks who would normally want to live in Frisco.

How You Can Get a House in Alameda
From talking to several Realtors here's what I think you have to do to score a house in this micro-bubble.....you're not going to like it.

First, this is not the market for 'first time home buyers'. Sorry guys but you're screwed. FTHB's in my experience just don't have the ability to make a quick decision and that's what you're going to have to do in our current market.

Second, have a VERY clear and FIRM idea of the type of house you want and what areas are acceptable to you.

Third, have all your ducks in a row. Be pre-approved for a loan, have a big fat wad of cash ready to go for a down payment.

Fourth, Have a Realtor that is worth their salt. Your Realtor should know every house on the island that's for sale that fits your requirements. They should have their ear to the ground for houses that will be on the market in the near future. This last one is the most important because I think that there are only two ways to get a house in Alameda.
1. Make a 'pre-emptive' offer on a house that is not yet officially on the market.
2. Your agent should be taking you to the brokers open to any house you're interested in and you should make an offer right then and there.

If you're very lucky the home owner will decide that your offer is better than the hassle of having open houses and waiting. Even in these scenarios you will have to offer over asking.

How Come You Haven't Done A Knife Catching Review In A While
1. Haven't been many interesting houses on the market recently. Or any houses really.
2. Houses are selling too fast! I'd have to go to the brokers open to tour the place and take my pictures. Think I'd be welcome there? Me and a house FULL of Realtors? The phrase 'Tar and Feathered' comes to mind.
3. I've been busy with other stuff. The usual picture filled review takes me at least 3 hours to put together.

But don't worry, I'm getting the sense that the micro-bubble we're in is going to start bringing out the charlatans and hustlers again....

But Wait, There's More
Through the blog I've been approached by several strangers to review houses for them that they were seriously interested in. So, I've done a couple of 'private reviews' on a commission basis. If you think something like that might interest you please contact me through the email link in my profile.