As a team, we have been able to get the market to move again through perseverance, education, and grit. This is great news for everyone as we really do believe it is a good time to buy and sell a home! I thought it would be helpful to share market insight and advice from our Sales Team as well as stats confirming our market intel: 

Wendy Means, Buyers Agent 

What is working for Buyers right now, is to submit your best offer on a home you love! After submitting three offers last week, we were pleasantly surprised to learn that we were the only offer received for each of the three houses. When submitting offers earlier in June and July, we were still competing against other parties with two to three offers being the norm. It is important to note that being the only offer doesn’t necessarily mean it’s easy to have your offer accepted. We are encountering unrealistic Sellers whose Realtors may or may not have prepared them for this market and thus we are experiencing longer, more difficult, negotiations. We are very grateful for the industry relationships and experience our team has as it is taking rational conversations, from both the Buying and Listing agents, to prevail. In closing, it's a special time for Buyers right now if they can “take the plunge” with confidence. 

*There are more choices (inventory in Lamorinda is up) and as shared above, there is less competition. Here are current June Lamorinda Stats from TrendGraphix: 

# of Homes For Sale in June 2022 in Lamorinda is 79 units. Up 79.5% compared to last month and up 16.2% compared to last year.
# of Homes Closed in June 2022 is 74 units. This is down 17.8% compared to last month and down 26% compared to last year.
# of Homes Placed under Contract in June 2022 is 55 units. This is down 34.5% compared to last month and down 39.6% compared to last year. 

Sarah Kellar, Buyers Agent 

My best success story for the week happened with Buyers in Moraga. We wrote a beautiful offer, despite having no competition, and the Sellers countered us back substantially over list price and they wanted a fee rent-back in their home. They clearly were not prepared for or aware of the shift in our Lamorinda Real Estate Market. We were able to advise our clients to stay calm and remain kind while standing our ground. We needed to allow the Seller and the Listing Agents time to adjust mentally to the changing market. With cool heads and one kind gesture, our clients were able to lock in their interest rate and proceed with the purchase of their dream home. 

Allison O’Brien, Listing Agent 

I had multiple Sellers this week who were able to enter into contracts to sell their homes. Some negotiations were tougher than others, but nothing was simple. It took a nose to the grindstone attitude and a realistic picture of, and willingness to accept, the reality of our shifting market to succeed. It is important to remember that the Lamorinda market is up 36% since the start of the pandemic. While Sellers are mourning the top of the market, houses are still selling at good prices. If you can get your head around this, you will be able to act when a ready and willing buyer comes your way. Don’t miss the Buyer in front of you in hopes you will find someone better. No day is better than today in a declining market. 

*Per TrendGraphix, in June of 2022, the average Lamorinda price per square foot for sold properties was $913. This is down 3.1% compared to last month yet still up 17.1% from last year! 

Lauren Woolsey, Listing Agent 

I too have had success this week with Sellers! The three most important things a Seller can do right now are: 

• Shine online, in person, and in the disclosures - We have less than 30-seconds to catch the attention of a prospective Buyer on their I-phone. Their level of excitement will entice them to visit in person or just watch what happens. If we do get them to the house, it must be clean, staged, and in great condition. If they take the next step to review the disclosures, they must be as clean as possible and transparent. Our team is in a unique position to help you ensure your home shines! Take advantage of our depth, complementary and proprietary staging, team of vendors, and money fronted at zero % interest for clean-up and improvements.
  
  
• Trust the process and our advice – Our experience and depth of hyper-local knowledge is unparalleled. We are transparent and collaborative. Listen to what we have to say and trust that we are all working together to create the best possible experience for you. We may not say what you want us to say but we wouldn’t say it if you didn’t need to hear it! Remember, knowledge is power.
  
  
•  Let the cake bake – Have patience! Selling Real Estate is a process and can take time depending upon your home and goals. Don’t rush and skip steps, we need to do this the right way and we need to give people time to make educated decisions. 

We’ve got this and are confident with our ability to advise you in this market! 

Dana, Wendy, Sarah, Allison & Lauren