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Mary Smartt--Smartt Moves with Mary Smartt

The Top East Bay Restaurants

top100

The San Francisco Chronicle just came out with its annual list of the Top 100 restaurants in the Bay Area. Of course, most are in The City itself, but they included 14 East Bay restaurants. Of the 14, several are old favorites of mine and others are now on my list to check out. Plus, they left off one of my favorites!

Of course, standard-bearer Chez Panisse is on the list, as well as other favorties like Oliveto and Bay Wolf. Here in Rockridge, they also included the wonderful A Cote and new kid on the block Wood Tavern. Both are great! Another favorite--Pizzaiolo over in the Temescal district--also made the list. One I will need to check out is the brasserie-style restaurant Flora in Oakland's up-and-coming Uptown district.

Now, over on Piedmont Avenue, they include one my favorites--Dopo. What a great place to stop in for a wonderful little pizza!

Also on Piedmont Avenue, they should have included the terrific Park Avenue Bar & Grill. Owner Chris VavRosky cooks up one of the tastiest burgers in town and mixes some mean drinks! Make sure to check them out!

Over on Berkeley's Solano Avenue, I was glad to see Latin small plate specialist Fonda was highlighted, as well as Mediterranean spot Rivoli. Down on Fourth Street, I will need to check out Japanese/California cuisine restuarant O Chame, as well as nearby Indian joint Vik's Chaat Corner.

Through the Caldecott Tunnel, it looks like I will need to go check out Va De Vi in Walnut Creek and Bo's Barbecue in Lafayette.

I love to eat out, so if you ever need a restaurant recommendation, just let me know. Perhaps I'll join you!

(photo courtesy of SFGate.com!)

Home Design Deals in the East Bay

Well, I'm back from a little break. This time we hit the Rhine River from Amsterdam to Frankfurt with stops in Dusseldorf, Cologne and more. Now, back to the real estate market...and real estate blogging!

I love Ikea as much as the next person, but sometimes you need something a little different. One of the great ways to find unique and affordable home decor ideas is to hit the Alameda Point Antique and Collector's Faire. This where many of the East Bay's top interior designers and home stagers get their goods, so why shouldn't you have a chance at them, too?

I've been meaning to write about the Alameda Point Antique and Collector's Faire for quite some time, but now I don't have to because the SF Chronicle has just run a terrific article about the place. It is a great read full of tips and guidance on navigating about 750 vendors and bumping elbows with about 9000 other early-rising shoppers.

Here are some of the main tips shared in the article:
  • Get there early. Very early! The gates open at 6pm and eager shoppers are already waiting in line.
  • If you see something you like, buy it. It probably won't be there when you come back.
  • Feel free to haggle. One designer recommends asking "How much are you asking?" as opposed to "How much is it?"
  • Some shoppers like the new vendors on the far side because they may not be as savvy as the old-time vendors
  • Grab a map and take notes so you don't get lost.
  • Prices usually drop as the day goes on so that vendors don't have to cart stuff back.
The Faire occurs the first Sunday of each month, so mark your calendars for April 6th. The admission cost is $15 each, but it goes down in price as the day gets later.

This article is a fun read and really gives you everything you need to know about the Alameda Point Antique and Collector's Faire. And, if you ever have questions about interior design and home staging in the East Bay, just let me know. I'm always happy to help. I can be reached at 510-547-5970 x57 or MSmartt@jps.net.

Countrywide Foreclosures in Oakland

As I've written about before, a lot of people still ask me about buying foreclosures. Due to the media's coverage of real estate market and the sub-prime fallout, there is a belief that there are tons of foreclosure deals out there just waiting to be snapped up. But think again. The East Bay is just different.

Click here to visit a list of Countrywide's currently active foreclosures in California (and dig deeper to look at the whole country). There are over 4200 Countrywide foreclosures in the state as of February 12th. How many are in our neck of the woods?

Well, Oakland has 33 on the list, and your search pretty much begins and ends with that. There is one foreclosure in Berkeley, and none in Albany, Emeryville, El Cerrito and Piedmont.

That Oakland list does offer some deals for people who are willing to put a lot of work into the homes and a lot of patience. Most of the deals are in the $200k and $300k range, but there is one as low as $118,000 and one as high as $744,000. Buying foreclosures takes a lot of time because everything needs to pass through the bank's bureaucracies, and the purchases are "as-is."

I found it to be quite interesting and wanted to share it with you. So, peruse the list and let me know what you think. And, if you have any questions about foreclosures, please let me know. I am always happy to help. I can be reached at 510-547-5970 x57 or MSmartt@jps.net.

"Rockridge is Just Different"

Today, Ron Kriss, our broker here at Lawton Associates, announced a comprehensive and historical comparative analysis of the Rockridge real estate market. And, he has concluded that "Rockridge is Just Different." I have worked with Ron Since the mid-90s and we have seen the market in all of its many ups and downs.

Rockridge has long been one of the most desirable neighborhoods in the entire Bay Area, and the real estate market here is atypical. Lawton Associates, an expert in the Rockridge district, has been the top-selling real estate brokerage in the neighborhood for over 10 years.

This chart, compiled by Ron, demonstrates the fact that there were more homes sold in Rockridge in 2007 than in the two previous years. The average list price and the average sold price have gone up every year including 2007. The chart includes a split of 2007 into the first half and second half of the year, to further counter the mainstream media's point that the market is getting worse. "Maybe things are getting worse in the Greater Bay Area, the State of California, and the United States," adds Kriss, "but not in Rockridge. Both six-month periods of 2007 were very strong and there was even continued over bidding on many premium homes."

Ron adds, "Compared to the peak of 2004, there were fewer homes sold in Rockridge in the 2005-2007 time period. This is mostly because there were just fewer homes on the market during this 3-year time period, not because homes were not selling. The number of cancelled, withdrawn, and expired listings over the above chart's four year period has not changed very much."

Ron's 2008 Forecast-" The market could actually get very hot in 2008"

Based on early trends from January 2008 and the proposed increase of the conforming loan limit, Ron also provides a forecast for the next eleven months.

"I can tell you that the spring real estate market has already started off with a bang and there is not enough inventory. This coupled with historically low interest rates has shown us a very robust marketplace so far. If buyers are waiting for prices to drop and sellers to give their homes away, I don't think 2008 is the year. In fact with the conforming loan limits set to increase under the just signed "Economic Stimulus Package" the market could actually get very hot in 2008."

If you have questions about the Rockridge market, or other markets in Oakland and Berkeley, just let me know. I am always happy to help. I can be reached at 510-547-5970 x57 or MSmartt@jps.net.

Below Market Rate Condomimiums

One terrific option for first time homebuyers in any market is the purchase of a "below market rate" condominium. These are generally city-run programs to provide affordable entry to the real estate market for low and moderate income earners, especially in areas where housing prices can be high.

Every program is different, but many cities generally work with developers to set aside a percentage of units that would be designated as "below market rate." For instance, a one bedroom condominium might cost $275,000 instead of $425,000. And, these units are usually required to be as equitable to the condos priced at a fair market value.

These BMR programs have income restrictions and they often have lotteries for high-demand developments. But, the extra paperwork and patience can pay off if you are looking for affordable homeownership. The main downside to these programs is that you will earn little or no profit when you sell the unit, due to restrictive re-sale regulations, and you still have to pay HOA dues. But if homeownership is the goal, not profit-making, then BMR programs are a great option.

For information on the City of Emeryville's well-developed BMR program, visit their website. Berkeley also offers a BMR program, and so does San Francisco. Check out your own city's housing department if you don't live in these cities.

And, it just so happens that I am currently listing a beautiful BMR resale condo in the desirable Terraces at Emery Station building in Emeryville. It is a one-bedrom/one-bath top floor condo with some views of the Oakland Hills. The location is terrific, close to everything in Emeryville, from Ikea to Emery Bay and more. Plus, it is perfect for Amtrak commuters. The Terraces has great amenities, such as a gym with sauna and an entertainment room. And, this BMR condo is listed at just $264,400.

If you would like more information on this BMR condo or how to apply for BMR programs, please let me know. I'm always happy to help. I can be reached at 510-547-5970 x57 or MSmartt@jps.net.