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Summary of what's happening in the East Bay.


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Historical Average and Median Prices for Detached Homes in Fremont

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A request from a client to run a historical chart of the average and median prices for detached homes in Fremont last year has opened a lot of conversations.  This is the first time since BayEast MLS started recording sales data in 1997 that Fremont's average detached home (aka: single family homes) sale has officially reached the $1M mark.  As always, I don't have a crystal ball, I'm not a lawyer or accountant, so I can't interpret this chart for you.  This chart has NOT been adjusted for inflation, this is just the raw sales average and median prices.
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Solar Panel Leases

Many people don't really think about solar panels when they buy a home.  Homeowners who like the idea but can't afford to pay upfront the installation costs choose to lease them over a period of time.  Sometimes during this period of time, the homeowner puts their home up for sale and that can open a can of worms. Why am I bringing this up? A) In Southern California it's really popular and it's slowly creeping up here to Northern California.  and B) The new residential purchase agreement (RPA) just added new verbiage to address this issue.  It gives the seller 7 days to make the disclosure and provide any paperwork necessary to assume/cancel the lease to the buyer.  What are the issues? One of them is that the seller needs to transfer the lease to the buyer upon sale of the home or cancel it.  If the buyer doesn't qualify for the lease or doesn't agree to the terms, trouble starts.  I've heard a seller pay $50k+ in cancellation fees because they di...
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Prudential Realty joins Berkshire Hathaway's HomeServices Network

2014 seems to be the year of brokerage consolidation! First Realogy/NRT (which owns Coldwell Banker, Sotheby's, ERA, and many more ) purchased ZipRealty earlier this year.  Now Berkshire Hathaway, which bought Intero/Alain Pinel, is in talks with Prudential Realty to join their HomeServices Network. More info here-- http://rismedia.com/2014-10-29/prudential-california-realty-joins-berkshire-hathaway-homeservices-network/
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