Selling? Ask for your Marketing Blueprint----

I was talking to a seller-client recently after forwarding her a typical "pricing memo." The memo covered a number of topics all related to value, but her reaction was "when we moved from the City, we didn't get nearly this level of detail and insight on the market, how our home fits into it, and pricing for our home!"

My memos probably are about the best in the local market, but I'm frankly most surprised by information the typical Piedmont agent offers regarding marketing a home they are in competition to sell (as opposed to pricing it).

Fundamentally, most agents or brokers take a "trust me" approach--"here are samples of my past work (flip, flip, flip through a presentation binder); if you sign my listing agreement, I'll do the same for you. I can't really answer too many questions right now because I'm not yet hired to do the job, so haven't spent much time thinking about your situation. And I won't--not until I have the signed listing agreement."

If you've ever worked for an ad agency (as I have) or if you've ever watched an episode of Mad Men, for that matter, you know that's not how advertising agencies get the "deal."

The "creatives" slave away deep into the night trying to clearly understand the product; they come up with concepts, and cast them off, finally settling on the "ah-HA" marketing effort. The pieces all fall into place and the client says "yes, you understand the essence of our product."

And while the ad guys probably won't have a sample ad that's perfect and ready to go to the media buyers, they have enough of a gameplan to let the corporate decisionmaker know with whom he'd like to place his sizeable marketing budget for the next several years (we're still with Mad Men here).

And make no mistake--when you go to sell your million-dollar home, you're putting $50,000 to $60,000 in the hands of your agent for, fundamentally, marketing.* Half will go to the buyer's agent for responding to the marketing and bringing your buyer, and a bit less than a quarter will go to the brokerage to provide back-office support (much of it marketing-related), and a small amount will go to E&O insurance, and to cover time spent in negotiations and while in escrow. But the vast majority of what you're paying for is the marketing of your home--the framing of your home within its market, the marketing ideas themselves, and then their implementation.

I think it's fine for agents to say "trust me" on implementation--the ads, postcards, brochures, e-newsletters, broker open houses, Sunday open houses and so on, assuming they have a good reputation on these fronts. And of course many agents don't realize that real estate is, in fact, not a one-size-fits-all business. (They were taught that marketing a home involves nine nice photos, a bullet list of features (*3 bedrooms *two baths *2100 sf *Lush landscaping *Rich details) and a paycheck.)

But it's what I call the Marketing Blueprint for a home that actually sells it. The blueprint gets inside the head of the buyers for your home, and then feeds them the details they need to make an offer on your home.

So if it's a "fixer" and buyers may be uncertain about how big a job it is, I have suggested a Renovator's Open House (with vendors who can give your buyers the information they need up front). The San Francisco Chronicle thought that was such a cool idea that they wrote a cover story on me in 2007.

If it's a mid-century modern home, I bring my library of mid-century modern books to the open houses, I place the home in the mid-century pantheon, and I've even added a Google Earth shot from above to emphasize the boomerang shape of the home for buyers.

If it's an historically important home in Piedmont, I've had a Piedmont historian at the open house telling stories about how the home fits into the neighborhood and how life was "back in the day."

If it's a great value for the money, there will be plenty of detailed information outlining that fact for value-sensitive buyers.

And so on.

Developing that Marketing Blueprint takes some time, expertise, good punctuation, and risk. I can pull together a fabulous Marketing Blueprint for your home, but if your brother is a real estate agent in Alameda, I may not convince you to hire me (and I'd hope that you wouldn't pass all my hard work on to your brother, but I completely understand the temptation).

Of course the strategy comes into better focus and the missing pieces (OK--how old exactly is that roof?) get filled in once we sign the deal and get seriously working. Nevertheless, I feel sellers deserve to know my gameplan--how I plan to market what's likely their biggest asset--before they hire me.

The Marketing Blueprint is the rough equivalent of the specs you expect from a contractor giving you a bid for a new kitchen, or the roofer giving you a bid for a new roof. You'd never accept "trust me" from those vendors; why would you say "yes, I trust you; just go and sell my house" from a real estate agent?

Instead, you should expect each to say, "this is how I suggest you position your home; this is how I would propose to do so; this is what I am planning to do; and this is what I anticipate you will net."

When you go to sell, expect each of the three agents (or better yet, brokers) you interview to give you a Marketing Blueprint. Your house is unique; doesn't it deserve a unique Marketing Blueprint?

*$100,000 to $120,000 for a $2 million home......

Pacific Union is Christie's Great Estates Regional Affiliate

Only Pacific Union has access to the international reach and highest caliber marketing expertise of Christie's Great Estates, which in turn is the only firm formally associated with an international auction house.

The Great Estates third quarter newsletter can be found here, if you'd like to hear a bit more about two sumptuous listings--a Frank Lloyd Wright home and Yves St. Laurent's Tangier home--and upcoming auction items.

Let me show you what I can do with Christie's materials and unique marketing placement in marketing your home.

Market Trends Back Up--3Q09 Update

Following the national trends (see the cool NYT graphic we've been watching here.) Piedmont's average home sale price as reported by the MLS increased by 8 percent over prices last quarter. Recall that last quarter was the first time we saw a clear drop in prices--they were down about 16% compared to the second quarter of 2008. While the third quarter's prices are back up, they remain about 8-9 percent below the average we'd seen since November of 2005.

The average home price was $1.49 million, and $525/sf, and the typical home sold in 33 days at 95% of the original asking price. Prices ranged from $770,000 to $4 million, and $409/sf to $720/sf. No portion of the market seemed to have difficulty garnering an offer, once prices represented good value to serious buyers. Twenty one homes sold, moving us rather close to the typical volume of homes sold in the late summer.

Remember that these closed transactions reflect deals struck 30 to 60 days ago (as our escrow periods have lengthened due to changing financing and appraisal processes). If we look at pending transactions, the good news continues. Sixteen homes are pending (two were short sales, and several received all-cash offers), and while we don't know exactly how pricing will turn out yet, the typical stats based on asking prices are very consistent with this quarter's outcomes.

In contrast, Berkeley average prices are off 13 percent (to $671,000) compared to the third quarter of 2008. Oakland's situation is very complex. The average price across the city has declined 27 percent compared to 3Q08. There were 200 more sales, however, and 200 more all-cash transactions (now representing fully one-third of all sales in the city).

Note that of the 21 homes currently on the market in Piedmont, none is distressed (defined as either a potential short sale or a bank-owned property). But life is not necessarily rosy in all quarters. I imagine there are a number of Piedmonters who are underwater (that is, they owe more on the property than it is currently worth) but can keep up with payments as long as jobs or savings hold up. Today's news that personal expenditures increased 1.3% (1% excluding durable goods like cars-for-clunkers) offers a nice shot-in-the-arm for those concerned about the broader economy.

I have a vision of households going off to Costco to replenish their stores of paper towels and jarred spaghetti sauce, having subconsciously cleared out the shelves these last several months, a story line from one of Jhumpa Lahiri's short stories. The future looks bright if you're laying in the larder.

See details on transactions here and email me if you'd like a copy of Clarus MarketMetrics report on the Piedmont market.

Kennedy Wins National Real Estate Marketing Award!

Here's the release:

Maureen Kennedy Recognized in

National Real Estate Marketing Competition

Maureen Kennedy won the coveted Overall Excellence in Personal Marketing award at this year's exclusive Leaders in Luxury conference in late October. Judged by Lisa Waldie of Dallas-based Brand Agent advertising and branding firm, the competition included submissions from among the roughly 100 meeting attendees, all members of the prestigious Institute for Luxury Home Marketing.

Entrants from across the country submitted material on their property ads and collateral material, blogs, websites, honors, media efforts, and logos, and were judged based on quality, creativity, and appropriateness for the luxury niche.

"Kennedy's approach to marketing crafts an individualized plan customized to each unique situation and client. Her stated core principles of Listen, Inform, Analyze, Market and Close communicate the very essence of successful luxury marketing. The result is a brand personality that is both unique and appealing to potential customers," said Waldie.

According to Kennedy, "Attendance at Leaders in Luxury is important to an upper-tier professional's success. By networking with the best in the business, sharing ideas, and learning about the latest trends and outlooks, I can help my affluent clients find success where others are finding challenges. It's a real honor to receive this award from among such an elite group of agents and brokers."

Kennedy, a Pacific Union agent in the Montclair office, is a licensed real estate broker. She was selected earlier this year as one of 50 Realtors on the Rise by Real Estate magazine, an influential national industry magazine. Kennedy also organized a session on Eco-Brokerage in the Luxury Market for the Leaders in Luxury meeting, held this year in Miami.

Hosted annually, Leaders in Luxury is an exclusive, invitation-only educational and networking opportunity comprised of real estate agents who work in high-end markets nationwide. The sponsoring Institute for Luxury Home Marketing, based in Dallas and founded by Laurie Moore-Moore, is the premier training and membership organization for luxury home real estate professionals internationally.

Since 1975, Pacific Union GMAC Real Estate has thoughtfully matched generations of buyers and sellers throughout the entire Bay Area. It is the only firm in California to receive a distinguished four-star International Property Award in association with CNBC Europe and the London Daily Mirror for superior marketing materials and client services in the luxury marketplace. A premier, locally managed brokerage with deeply experienced real estate professionals, Pacific Union GMAC applies cutting-edge technology to enhance the client experience.

###

Great Jack London Square Loft--$515,000

Virtual tour:

Www.NewMarketLoft.Com

With a big and attractive south-facing view, this secure Jack London Square loft has it all: lots of light, perfect location, spacious and functional layout, high-end amenities, and best of all, a solid financial footing.

An enclosed bedroom, separate office or guest space, and one-plus baths make this unit work overtime to meet your lifestyle needs.

· Great Jack London location a close to the social swirl;

· Close to Lake Merritt BART (SF is 2 stops away), ferry, Amtrak, freeways; two lights to Alameda grocery stores;

· South-facing 1+ BR/1+ BA, custom closets, in-unit laundry, storage, stainless steel and granite kitchen, gas range, secure garage parking;

· Solid management and reserves, nearly 90% owner-occupied; and

· Building includes attractive foyer, roof deck with grand views, exercise/gym room.

201 4th Street #512, in Jack London Square:

-Comfortable loft living: The floors are concrete, but the lifestyle is assuredly not Spartan. The kitchen and baths, finished in stainless steel and granite, complement an in-unit washer and dryer, huge closets and storage space. A wall of south-facing windows bring in the light (matching drapes will convey). Innovative barn and pocket doors separate the bedroom, bath and laundry from the office/guest space, guest half bath, living/dining/kitchen area. Ingenious!

-Location: A half-block away from the future site of Jack London Square's much-anticipated white-tablecloth restaurant Mono, and just a few blocks from Old Oakland's offerings and Soizic, the nearby restaurant scene is thriving. One current owner walks to the nearby BART station every day for her job in SF (it's a short walk and a 10 min. ride away); the other hops conveniently on 880 to reach his regional locations. Groceries are just minutes away through the Webster Tube in Alameda, and Lake Merritt, downtown, and Whole Foods are a short drive away.

-Well maintained building: Converted in 2001 and well managed by Massingham and Associates, the units' owners are a cohesive group with a listserve. Reserves are strong, and nearly 90% of owners are owner-occupants, according to tax records. The rooftop deck offers killer views of the surrounding neighborhood, the East Bay Hills, and the Bay and San Francisco, while the exercise room is ready to help you address holiday overindulgence. One secure parking space.

-Quick commutes, so more time for the good life: BART is just a few blocks away as is the 880 freeway; the ferry, Amtrak stations (and Peerless Coffee!)are also closeby. Easy drive to Berkeley, Emeryville and beyond.

Remaining open houses:

Monday, Jan. 21st, 10-1 pm

Sunday, January 20th, 2-4:30 pm

For more information, call or click:

Maureen Kennedy, Broker

510.290.8535

Kennedy@MaureenKennedy.Net

www.MaureenKennedy.Net

Oops, Did She Say That?

Yep, some of you were wondering if it were a Freudian slip when I said in the Bolinas note that a property was ''over-priced'' at $1.395 million.

A big part of our jobs as realtors is to provide insight on value--sales price, appreciation potential, renvoation costs, and so on. So we don't do anyone any favors, least of all our clients, by leaving them to guess whether a price is appropriate, might be adjusted through strategic negotiation, or if the seller is just dreaming. (Of course some buyers have the willingness and capacity to pay more for their ''perfect'' house than it might be worth to the market; but even they should know whether the house is likely to appraise . . . )

A higher price may mean a tad more money in our pockets (for ease of calculation, assume that 1% of that ''excess'' price goes into my pocket) but it's hardly worth losing a client's trust over!

Cost vs. Value--'07 Report Available

OK. So you are on the fence about whether to do a major remodel (scrape it to the floor) or a minor remodel (replace appliances and countertops) for your kitchen. It definitely needs something. But you've been indecisive for months. How to get off the fence?

Take a look at this year's Remodeling magazine analysis of the payback rates for various renovation projects. As in past years, the bottom line is that most remodeling projects return more than their costs here in the Bay Area (and the Pacific Region, for that matter). Not so the case nationwide. But then there are the surprises that you can muse on in the shower. Why is it that the return rate is lower here for siding replacement than on average, across the nation? Which is the "best" investment (wooden deck addition) and the "worst" investment (back-up power generator).

And by the way, the data say you get a 7% value bump from a minor remodel compared to a major remodel--

eMail me for a copy of the report.

Roaring '20s Glamour; Renovation-Ready!

Wildwood Avenue, central Piedmont:

Please celebrate the

Roaring '20s in Piedmont

with a glass of Pomegranate Punch at

421 Wildwood Avenue

Friday, July 20th, 5-7 PM

It will come to market Thursday at $3 million.

RSVP to me on 510-986-9517.

Check www.421WildwoodAvenue.Com on Thursday morning for a complete series of photographs, history of the home and its past owners, map situating the home among Piedmont's schools and amenities, and blueprints!

Open House Preview on Friday July 20th from 5-7 pm (featuring Rosamund Castle, author of the updated history of Piedmont, Queen of the Hills)

Renovator's Open House Sunday July 22, 2-4:30 pm (featuring Paul Cerami, builder; Arleta Chang, Jarvis Architects; Lawrence Fleury Landscape Design; and Angelisse Karol Color and Design)

Sunday Open House July 29th, 2-4:30 pm

Renovate this Newsom brothers Monterey Colonial home in the perfect Central Piedmont location, and enjoy the results for the next generation!

Built in 1927 with yesteryear's attention to detail, this gracious 5+ bedroom/4 ++ bath home offers spacious public rooms, a huge half-acre lot, gorgeous fountains, an exterior fireplace for gathering, and the handcrafted finishes you might expect: original plaster walls, hardware, ironwork and woodwork, and beautiful arches and niches. An expansive patio off the living and dining rooms affords the indoor-outdoor flow perfect for your entertaining plans. Just a stroll Piedmont's excellent schools and a three-minute drive to Piedmont Avenue's theater, restaurants and cafes, this location is perfect for those who yearn to connect. The short commutes mean more time for the good life!

· Fabulous Monterey Colonial architectural details at every turn;

· Gracious and spacious public rooms with gorgeous hardware and features;

· Great central Piedmont location near all schools;

· Effortless commute: casual carpool and express bus to SF (just 20 mins!) are a short stroll away; quick drive to Berkeley, Emeryville and the Tunnel;

· Located in the town San Francisco magazine calls "best for kids";

· 5 BR/ 4 ++ BA, study and other plus spaces, 4160 sf, huge lot with legacy plants and unique landscape features, three-car garage.

Spacious, sunny rooms with handcrafted details throughout: After they park in the grand circular drive, serve a dozen friends with grace and elbow room in the classic dining room with cocktails on the adjacent patio; the spacious living room offers an impressive period fireplace. See the light fixtures and door hardware!

Unusually large lot in this downtown location: Piedmonters prize a location close to all schools, the town pool, recreation department, tennis courts and transit. But most center-of-town homes offer relatively small lots. In contrast, this property's lot is over a half-acre in size, with classic design features that just can't be replicated today, including Moorish fountains, grand outdoor fireplace, and a gorgeous pond. With a larger lawn in addition to the spacious patio shared by the dining and living rooms, this home offers all the outdoor functionality your household needs.

Bonus rooms for your flexible lifestyle: Need a home office? Guest suite? Large workshop? Rumpus room? Sewing room or crafts space? This home has several bonus spaces to meet your needs. The three-room suite over the garage can afford a private retreat for guests.

Lots of upside potential in this changing market: This home is renovation-ready, and represents great value. Most remodeling investments have a strong net positive return in the Bay Area (Remodeling magazine), and those returns go into your pocket. The roof was replaced in 2002 and Dan Szumski gives a big thumbs up on the foundation. So you can focus on choosing the perfect finishes. With refinished floors, this home will be transformed; with a remodeled kitchen and baths, it will shine!

Location: With its excellent schools, gracious streets, prestigious history, glorious architecture and locally controlled services, Piedmont has been a sought-after hometown for generations.. The location offers effortless access to schools, playgrounds, work, tennis, town pool or country clubs, great restaurants, theater, and the GrandLake farmer's market.

Five bedrooms and the four ++ baths you need: Too frequently, cosmetic upgrades involve complicated variances and paperwork. This remarkable home comes with the bed/bath and garage space combo that meets your needs!

Easy commutes, so more time for relaxing: Express buses/casual carpool to San Francisco leave within a few blocks; easy drive to Oakland offices, BART, Berkeley, Emeryville, OAK/SFO and beyond.

Feel free to pass this invitation on to friends and colleagues (see below).

For directions, http://www.mapquest.com/maps/map.adp?searchtype=address&country=US&addtohistory=&searchtab=home&formtype=address&popflag=0&latitude=&longitude=&name=&phone=&level=&cat=&address=421+Wildwood+Avenue&city=Piedmont&state=CA&zipcode=ere; for more info and photos (check back for additional photos after Thursday morning), http://421wildwoodavenue.com

Maureen Kennedy, Broker and Realtor
Prudential California Realty
342 Highland Avenue
Piedmont, CA 94611

510-290-8535 (cell)

Stunning Success--Tailored Marketing Blueprint Does the Trick

Click here for the story, which appeared on the front page of Sunday's Open House pull-out section. Take special note of the bit about the persimmon cake . . . .

Not to toot my own horn too much, but this is what it takes to sell a great home in a market like we have right now. Attention to detail, careful analysis of the attributes of the home, great marketing savvy and local connections.

Getting Close to 55?

Let's say your birthday is in June, and you'd love to sell your long-held house and move to a wonderful, three-bedroom, two-bath 20th-floor condo on Lake Merritt. Or a great house within walking distance of Market Hall and the Rockridge BART. But, your PHS junior has one year left, and you'd rather not give up your incredibly low property tax bill. What to do?

A huge benefit of hitting 55 is that one can sell the house, trade down in Alameda County (or one of a half dozen other counties in the state offering reciprocity), and take the current low tax bill to the new abode.

So if your current property tax bill is $3,500, but the tax bill on that condo or sweet Rockridge bungalow would total $10,000, don't worry.

First, email for a brochure Dewey Watson and I developed on this issue. Then sell/buy or buy/sell your homes, file the essential paperwork with the county tax assessor, save $6,500 in taxes annually, and you've demonstrated your financial savvy.

Then, fill out the form at the school district office, and your junior can spend his/her final year commuting to PHS, under the ''senior privileges'' provision. Really.

Consult your financial advisor on all this, but read on for some extra points:

You can buy your replacement property before OR after you sell your original property, as long as the time gap is no more than two years. And there are inflation-adjustments. For instance, if you sold your original home last year, took a six-month trip around the world, and just purchased a replacement home for $1,000 more than your sale price, you're fine.

We're assuming that your home has appreciated bigtime--that means you've got capital gains bigtime. Note that the first $250,000 (single)/$500,000 (married) of your capital gain on the sale of your original home is excluded from tax.

If you have additional gains, and would really prefer to invest those gains rather than pay tax on them, consider renting your home for a period and then selling it. Then buy your replacement home, and purchase an investment property with any excess tax-deferred gains (through a Starker exchange). This is easy stuff to do. If the investment property were in a location that attracted you, you could decide in the future to make it your primary residence.

55 is looking better and better!

I Care about Handcrafted Marketing

I imagine you don't spend a lot of time at open houses. But let's talk about 25 Mesa Avenue, a fabulous fixer with great bones, on the market in January.

Usually I make Hershey's brownies from Costco for open houses--assuming there's no white carpet! But 25 Mesa Avenue, a great home in Piedmont's coveted Golden Rectangle neighborhood, has a gorgeous persimmon tree right in the backyard, though the persimmons were all gone by January.

I think there's nothing that expresses the essence of a home's legacy plants like a home-baked treat featuring the garden's produce. So during the season I picked the persimmons, made cakes, and stored them in my freezer, awaiting the open houses. Visitors loved the cake, and loved the story. So much of marketing is about telling stories.

Oh, and each of the 1000 postcards we sent out mentioned the cake. I'm doing the same, but with little lemon cakes, for my upcoming 5 bed/3 ba ''killer view'' home in Redwood Heights.