Featured home: 740 Hap Arnold Street in Antioch

Contra Costa contemporary comfort with luxurious touches

Where: 740 Hap Arnold Street, Antioch, CA 94509 (listing | tour)

This contemporary home in Antioch offers luxurious touches throughout. The formal living room and dining room stand out with gorgeous plantation shutters. Granite countertops, beautiful cabinetry, and high-end appliances highlight the spacious kitchen, which also boasts its own wine refrigerator. The family room features hardwood flooring and a fireplace, as well as large glass doors that open up to your private backyard. Outside, the sizable pool and patio space with plush landscaping becomes a personal oasis for you and your family.

Designed with an attention to detail and privacy in mind, this distinctive property in Antioch is a wonderful piece of modern real estate.

The 2,077 square-foot home and property include:

  • 4 beds
  • 3 baths
  • Attached 2-car garage
  • Hardwood and tile flooring
  • Master suite with upgraded master bath
  • Fireplace
  • Back patio and pool area

Listed at $529,950 by Hollie Guillory of the Walnut Creek office.

View more homes for sale in Antioch | Learn more about the Antioch community.

FEATURED HOME: 808 Walnut Ave in Charming Burlingame

Craftsman perfection in the heart of the Peninsula

Grey Craftsman home with white trimWhere: 808 Walnut Avenue, Burlingame (listing | virtual tour)

Picture perfect inside and out, this beautifully appointed Craftsman home was built in 2007. Refined millwork, plantation shutters, and hardwood floors combine for an ambiance that is timeless and luxurious.

The spacious 2-story floor plan has 5 bedrooms and 4.5 baths and a wonderful kitchen and family room combination, plus inviting venues for outdoor living, complete with built-in barbecue center.

Plus, all of this is just one-half mile to the downtown Burlingame for the best in shopping and dining.

  • Square Footage: (+/-) 3,163
  • Lot Size: 6,300
  • Listed: 6/17/2016
  • Year Built: 2007
  • Elementary School District: Burlingame Elementary District
  • High School District: San Mateo Union High District
  • MLS: ML81591174

Offered at $2,998,000.

Listed by Joanne Norris of Alain Pinel Realtors – Burlingame.

Stop by an open house on Sat. June 25 or Sun. June 26, from 1:30-4:00pm.

See more homes for sale in Burlingame | Visit our Peninsula community page

Special APR Discount for Inman Conference

Did you know one of the BEST real estate events of the year is happening in San Francisco this year? Inman News presents both Agent Reboot and Real Estate Connect this July at the Hilton San Francisco Union Square.

The events kickoff with Agent Reboot on July 9th. This one-day boot camp, revamped with all new content for 2013, is a crash course in digital marketing to make your upcoming year your best. Get expert advice via case studies, mobile marketing techniques to attract the digital consumer, strategies to foster and build relationships on social media, tips to ensure your website is personalized and local and so much more.

Next up is the main event – the 3-day, information packed Real Estate Connect from July 10-12th. Real Estate Connect is where real deals are made, new partnerships are formed, new technologies are introduced, start-ups are launched and hard issues are debated openly. Connect SF will position you to take advantage of tomorrow. This year, APR’s own VP of Relocation and Business Development Michi Olson will be speaking.

Unsure whether to attend? Check out our post from last year highlighting some of the take-aways and tools.

Even better – this year we’ve partnered with Inman News to make it easier for you to attend both events – at a reduced price. You can save $300 if you REGISTER NOW. This special deal for local agents will give you tickets to both events for the exclusive price of $649.

Register NOW – and secure your spot in this incredible 4-day event.

Unique Opportunity in Today’s Real Estate Market

Author: Bob Gerlach, Vice President and Manager of Alain Pinel Realtors Palo Alto

As I’m sure you’ve heard interest rates are at record lows. Today, a new home owner can get a fixed rate loan in the low 3% range or a variable rate loan in the high 2’s. If someone had told me that interest rates would be this low, I wouldn’t have believed them!

Since rates have been a bargain for some time, it seems to have desensitized us to the fact that this is a unique opportunity for homeowners that has a huge impact on affordability.   And… based on historical data, these rates may not be around forever.

Let me add some context to this – when I started in real estate industry in the 1970’s, interest rates hovered around 10-12%.  In the early 1980s, I saw interest skyrocket to above 15%!  I remember one sale in particular that we closed at 18% – and the buyer was thrilled that they didn’t have to pay 20%. According to Freddie Mac, the average interest rate in 1981 on a 30-YR, fixed-rate mortgage was 16.63%. That’s almost 4 times as high as rates are today.

Below is a graph that tracks the interest rate from the early 1990’s to present day.

As you can see,  this clearly indicates that our low rates today are uncommon.  If we look at it from a historical perspective, interest rates should start to creep back up over time.  If this does occur, it could have a significant impact on a buyer’s borrowing power.

What impact does an interest rate increase actually mean to the consumer? Let’s look at an example – a $1 million 30-YR, fixed rate mortgage with average interest rates from 1980, 1990, 2000, 2010, and now.

Today’s monthly payment on a $1 million loan is reduced by nearly half from 1990. Over the course of the mortgage, this results in over $1.3 million in savings on interest. Even if you only look back just two years to 2010, you save $700 on your monthly payment – resulting in over $250,000 savings over the mortgage.

Let’s look at this a different way – let’s say your budget allowed for $7,372 in monthly payments. In 2000, you would only be able to take out a $1 million dollar loan. With today’s interest rate, to have that same payment, you would have to have a loan of $1,647,730. That is an increase in purchasing power of almost $650,000. We aren’t talking about minor increases – today’s interest rates allow for a significant increase in what price home you can afford.

At Alain Pinel Realtors, we understand how rare these interest rates are and the very real affect they have on consumers. Contact your REALTOR® and see how much more buying power you may have today.

Chart is reproduced with permission from Mortgage-X.com. All average interest rate data is from Freddie Mac unless otherwise noted. This article recently ran in the Palo Alto Daily News publication Premier Homes.

About Author:

Bob Gerlach currently serves as Vice President and Manager of the Alain Pinel Realtors Palo Alto office which has consistently been one of the top producing offices within the company. Bob started his real estate career in 1977 as a sales agent, yet quickly moved through the management ranks. For more information call Alain Pinel Realtors Palo Alto at 650-323-1111 or email at bgerlach@apr.com.

Why Off-Market Can Be Off the Mark

Author: Rainy Hake, Executive Vice President, Alain Pinel Realtors

To say that the real estate market in the Bay Area is “competitive” would be an understatement. Inventory is at historic lows and as the economy in the area remains strong, demand is high. In this environment, it seems that every seller, every buyer, and every agent has a story about multiple offers. However, we’re also seeing another trend – an increase in “off-market” transactions and the buzz around them, especially on the Peninsula  It is more important than ever for buyers and sellers to understand these transactions and how it should be affecting how they interact with the market.

What is an off-market listing?

An off-market listing is when a home is for sale, but the seller and broker decide not to put it on the Multiple Listing Service (MLS) – which is the data and information sharing system and network among all the participating brokers. Instead, the owner or agent attempts to sell the property by privately marketing and distributing information within his or her network.

There are obvious dangers in this strategy that potential sellers should be aware of. By selling a home off-market, you are placing all your trust in a single agent to distribute and market your property. You have no guarantees in the exposure your property will get and no way to know if you have received fair market value for your property. In a market flooded with buyers experiencing a shortage of inventory, it would seem mass exposure is ideal. With the MLS, you have an organized, regulated way to distribute reliable data to brokers and achieve mass exposure, while not leaving any money on the table.

Strategically some sellers may choose to market their home off-market in the short term as a “coming soon” in order to wet the public’s palette without turning on the crucial “days on market”  ticking clock until the property is ready for primetime. However, in a seller’s market where demand is out pacing supply, a potential false start can be potentially damaging in procuring the highest possible selling price.

There are of course some non-financial reasons that people might want to sell their home off-market – the most clear one being privacy. In an area like the Peninsula, which is filled with high-end homes and high-profile individuals, the desire to keep some matters quiet is understandable. Also, selling a home can often be a very personal decision – perhaps you’re leaving the area but have not told your employers, or a divorce or financial hardship has suddenly created a need to sell your home. A for sale sign in front of your house brings questions. With luxury homes, there is the added desire to not have people walking through your home unless there is a true intention to purchase.

However, these do not explain why we’re seeing an increase in the past few months. While there has been an increase in wealth due to the booming tech industry, the rise in off-market sales we have seen cannot all be attributed to big Silicon Valley CEOs. There are financial reasons for selling your home off-market as well. In a market in which buyers are hungry for inventory and perhaps have had a few failed multiple-offer situations, they might be willing to pay a higher price to have access to an exclusive property. Additionally, some sellers might not be actively trying to sell their home, but would if the price is right. By having it for sale off-market, they can test the waters with a higher price and see if anyone bites.

What do off-market listings mean for sellers?

Whether you chose to sell your house on the MLS or off-market, the most important thing to understand is that there are risks involved on both sides. Exposure is key to selling your home – whether it’s on the MLS or off-market. If you do choose to list your property off-market, it is crucial that you work with a brokerage and agent that you trust to expose your property to the proper buyers. Before you choose an agent at a small boutique firm for an off-market listing, you have to consider their network.

What do off-market listings mean for buyers?

For buyers, it is more crucial than ever to start working with an agent. In this age of technology, we have begun to see empowered consumers – they are independently doing their own research and looking at data on Trulia, Zillow, and other listing portal sites. However, with such a large number of off-market listings, these sites are not able to represent an accurate picture of what is going on in the market. With such low inventory, only looking on the MLS or other sites may not be the best strategy to expose you to all the homes that you might be interested in. In order to be exposed to the most homes, it is imperative to start working with an agent who has a large network and truly can communicate what is happening in your market.

At Alain Pinel Realtors, we have 31 offices around the San Francisco Bay Area. We have the largest and widest footprint of any independent brokerage in the Bay Area. The extensive network that our agents offer and the relationships they have is unmatched by any of our competitors. When it comes to off-market listings, whether exposing a property to the proper agents and buyers, or helping buyers find the properties that others haven’t shown them – our agents have a massive advantage – a network of 1,400 agents that they trust plus an international partnership with Leading Real Estate Companies of the World®. In this hot market, working with a REALTOR® is more important than ever – a firm like Alain Pinel Realtors and its vast network can help bring insight and knowledge into what is truly going on in your market.

About Author:

Rainy Hake currently serves as the Executive Vice President of Alain Pinel Realtors where she plays a role in managing the strategic direction of the company, and also oversees the Marketing, Technology, Training and Strategy departments. She has over 15 years of experience in the real estate industry and holds and MBA from the University of Oxford.
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