About Alameda's Fernside

I Every time I have a broker's tour in my island city, I always (ALWAYS!) serve Chinese dim sum appetizers and bottled water. It's become sort of a "signature" refreshment, and people who know me, know I will always serve dim sum.

Today, I held a broker's tour for my newest listing at a very desirable part of Alameda called Marina/Fernside. Here's the VISUAL TOUR.

Over 50 agents toured the place, and many chatted for a spell. I was expecting a good turnout, but I can't believe just how many came.We even had agents from neighboring cities ---- and that's a rarity in itself.

Did I do anything different?No, nothing new. But I did:

• Post it on craigslist (some agents said they or their clients saw the ad, and wanted to check it out
• Create a visual tour
• Posted it on VFlyer
• Advertised in the Tour View of the MLS that I am serving dim sum while they last

Some of us were discussing what seems to be a sudden turn in events, following dismal 2007 and 2008. Perhaps the crowded broker's tour is a harbinger of good news. And what is causing this?

Observations and opinions

1. There's a pent up demand
2. Buyers probably believe that in their case, it's the right time to buy
3. Buyers are afraid that we've probably hit bottom now, and judging from recent multiple offer situations, the market is on the mend
4. The tax incentives and credits are only for a certain period of time. Who knows when we will have credits like these again?
5. Interest rates are too attractive to pass up. Even if the prices of homes go down, if the interest rates rise, then it's a wash. So why wait?
6. Homes in desirable neighborhoods, and that are priced right and look nice, will still sell.
7. There is a dearth of good properties in desirable neighborhoods, that are priced right and look nice
8. It's the rite of spring --- and expect more homes to come on the market!

Open house --- huge turnout? Gee, I hope so. I am now poised to have a big turnout this weekend, based on how many agents came. Some of them said they're sending their clients to the open house. Oh yes, please do!

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