A blog about the East Bay real estate scene, particularly in Piedmont, CA, of interest to buyers, sellers, and residents alike.
Wednesday, July 20, 2016
China, the Market, and the Virtual Food Drive
PacUnion and the China Market--
The spouse and I were hiking in Japan last month, so I was reading the Asian Wall Street Journal. Was pleased to see that Pacific Union is the only real estate firm in the world (yes, you read that right) that advertises in that edition on its own (rather than through a network of many regional firms under an American umbrella like Luxury Homes, Luxury Portfolio, etc.). While other Bay Area firms might advertise there along with homes from Connecticut, Hawaii, and Colorado, our full-page ad covered only homes in the Bay Area, all listed by Pacific Union.
It's part of our CEO's push to make Pacific Union the go-to locus for Chinese buyers interested in real estate here. See this front page story from last Sunday's Chronicle that supplies context and stories. As the Chinese economy continues to slow (and investigations ramp up), we may see more of these buyers looking for a haven.
Several of my listings in the past year or so have garnered strong all-cash offers from mainland Chinese buyers, and I've advertised some of my more contemporary turn-key listings in the Journal to good effect. For those Mandarin readers, here's our site--
Today's staff meeting suggested that the local real estate market continues its strong upward push. The combination of 30% fewer listings than last year, yet strong buyer demand, means that our "absorption rate" is at the lowest point in two years--that is, there are way too many buyers chasing way too few listings, and homes are going off the market with great velocity.
Slightly fewer homes sold in multiple offers this November compared to last (72% vs. 75%) but otherwise, all signals are positive, and loan rates remain at rock-bottom levels (under 3% for a 5-year adjustable loan).
Alameda County Food Bank Gets Matching Funds TODAY
Planning a donation to the food bank? Do it today and Royal Coffee in Emeryville will match your donation! Click here to choose the organization you'd like to donate through (top right under Start Shopping, Select Your Group). Two great choices are Pacific Union (we're more than halfway to our goal already) and the Piedmont BSA (Boy Scouts). Cash donations stretch much further than canned goods (as the food bank can tap into deep vendor discounts that we can't), though if you missed the canned good pickup last month, the Boy Scout office still has its barrel ready for your cans just outside the door at 10 Highland Way.
This blog covers issues related to real estate and your home in Piedmont, California. We cover the local market, renovation ideas (particularly those of a green nature), some gardening material, local housing/taxation/development debates, what buyers and sellers want, and national trends.
Lots of good info and insight; no cattiness.
The blog includes my e-newsletter articles dating back to 2006, and blog posts while ActiveRain.Com was my blog platform. Feel free to subscribe to the blog here (go to the top of the page), or email me (Kennedy@MaureenKennedy.net) and I'll add you to my quarterly e-newsletter list. And don't forget to forward this link to your friends and colleagues thinking about moving to town, or ready to move on to the next stage of their lives. I always have time for your referrals!
I look forward to your comments, suggestions, and new information you think Piedmonters, and those thinking about moving to town, should know.
My job is to inform, listen, analyze, market, and above all close your transaction promptly and at a price with which you are comfortable. I grew up in the Washington, DC area and graduated from Mount Holyoke College and the Kennedy School of Government at Harvard University. After working on housing and tax issues in Virginia, Alaska, and in the halls of Congress, I managed the nation's single-family and multi-family rural housing loan programs and advised HUD Secretary Henry Cisneros on housing and urban policy as Deputy Assistant Secretary for Policy. I’m a licensed broker, serve on the Advisory Board of the Institute for Luxury Home Marketing (based in Dallas), and have earned designations from e-Pro, EcoBroker, the National Trust's architectural program, and the NAR’s At Home with Diversity program. I'm a member of the Council of Residential Specialists, and of course the National, California and Oakland Associations of Realtors.
No other agent or broker practicing in Piedmont has such a strong professional background.