By Don Dunning | January 23, 2016
For my entire real estate career, I have maintained a basic assumption, a paradigm, of how the market operates. 2015 was the year I began to seriously question whether San Francisco Bay Area real estate has fundamentally and irrevocably changed.
Read MoreBy Don Dunning | September 28, 2013
“We often miss opportunity because it’s dressed in overalls and looks like work.”
– Thomas A. Edison
Everyone loves a bargain. Sometimes, however, a good deal can be missed because value was not recognized. This is surprising when it occurs in a hot real estate market, but it recently happened with several East Bay properties.
Read MoreBy Don Dunning | May 19, 2013
Earlier this year, I counseled buyers and sellers against contracts without contingencies in an article called “Contingency-free Contracts Can Be Dangerous”. Several weeks later I read an article by a licensee that advocated what I had warned against, but did not mention the substantial risks involved with these practices.
This led me to consider a different approach — to appeal directly to sellers and help them see how their agent can get them into really hot water.
Read MoreBy Don Dunning | April 5, 2013
“Common sense is the most fairly distributed thing in the world, for each one thinks he is so well-endowed with it that even those who are hardest to satisfy in all other matters are not in the habit of desiring more of it than they already have.”
– Rene Descartes
It is no secret that a shortage of inventory, combined with historically low interest rates, has led to a market where, in certain areas and price ranges, multiple offers are the norm. Recently, I wrote about the dangers of contracts without contingencies.
There are few areas of real estate where buyers need outstanding representation more than in the handling of multiple offers. Sadly, some buyers are working with licensees who lack the knowledge, caring, or both to protect them from paying more than necessary.
Read MoreBy Don Dunning | March 9, 2013
“It’s like deja-vu, all over again.”
– Yogi Berra
Unbalanced markets lead to unbalanced behavior that buyers often later regret. Today, extremely low inventory combined with record-low interest rates have buyers scrambling to be one of a horde vying to buy a home or condo.
The rules change when a substantial number of buyers compete for one property. This could result in five offers or over 25, depending on many factors. The compelling question for buyers is, “How can I get this home?” The answer, in my experience, can sometimes be detrimental to a buyer’s financial and emotional health.
Read MoreBy Don Dunning | October 28, 2012
Human beings consistently fail to learn from history. If you are or will be in the market to buy or sell a home, not paying attention to the past could cost you dearly.
Read MoreBy Don Dunning | June 30, 2012
It is estimated that 39 percent of U.S. households own 78 million dogs. Or, as dog lovers like my wife and I understand, the dogs own us. In spite of all the joy these creatures bring, they can cause damage in a home. Most folks recognize this.
Sometimes, however, what we think we know takes on an entirely different dimension. That was the case with a woman who bought a lovely East Bay home over a year ago, but has yet to move in.
Read MoreBy Don Dunning | June 19, 2011
After over 30 years in real estate, I don’t see much any more I can call unique. My new listing at 5321 Miles Avenue in the Rockridge district of Oakland, however, definitely fits that description. This is one of six townhomes built in 1979 around a gorgeous, huge, tropical atrium. The unit has a deck […]
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