http://westinmeansbusiness.com
** The Rate Hikes Hit in 2022. The Market Didn't Actually Change Until 2024. ------------------------------------------------------------ I've been in and out of a lot of showings and listing conversations the past couple of weeks, and the same pattern keeps showing up: this isn't really one market right now. It's two. Homes that are genuinely move-in ready, in a good location, and priced honestly for what they are, are still pulling multiple offers. Homes that need real work (even ones that are otherwise very nice) are sitting. Some go days without a single offer.
It's tempting to blame this entirely on the Fed's 2022 rate hikes, but that's not quite the real timeline. Rates jumped fast that year (the 30-year went from around 3.2% in January 2022 to over 7% by October). But the market didn't actually slow down the way you'd expect. Bay Area prices kept climbing through 2023 (San Francisco alone was up about 8.5% that year), and bidding wars kept happening, because inventory was tight enough that a lot of buyers could still absorb the higher payment.
2024 is when I really started noticing the shift; nice houses, not just ones needing work, began to sit. I bought my own place that year, and it was part of that same pattern playing out around me in real time.
Since then, buyers have gotten a lot pickier than they were pre-2024. At today's monthly payment, people don't want to also take something on. If there's anything slightly off (a dated kitchen, deferred maintenance, an awkward layout), a lot of buyers won't even write an offer. They want something they can justify the payment for and just move into. Zillow's own research backs this up nationally: by early 2025, fixer-uppers were selling at the steepest discount in three years, while move-in-ready, remodeled homes were pulling a real price premium. What I'm seeing locally lines up with what the data's been showing everywhere else.
If you're thinking about selling: that's the real bar right now, and it's higher than it was even two years ago. A home that needs work isn't unsellable, but pricing and marketing it like it's already turnkey is exactly how it ends up sitting.
If you're buying: on the genuinely move-in-ready homes, expect real competition. On the ones that need work, you likely have more room than you'd think; a lot of other buyers are walking away from exactly those houses before they even get to the offer stage.
If you're weighing a listing and want an honest read on where your price and your home's condition actually land right now, or you're starting to look and want help reading a property before you're in escrow, reply and let's talk it through.
Read the Market Research Here (https://zillow.mediaroom.com/2025-02-19-The-end-of-the-fixer-upper-Remodeled-homes-sell-for-the-highest-premiums) Let me know if there is anything I can do for you Call/Text Westin Means 510-735-5685 Here are a few resources for Home Buyers & Sellers that I have curated. Search For Homes (https://westinmeans856.realscout.me/) https://www.canva.com/design/DAE6hZlOl9w/jSYnYVXz2T7c8nCY8W87CA/view?utm_content=DAE6hZlOl9w&utm_campaign=designshare&utm_medium=link&utm_source=publishsharelink
https://www.dropbox.com/s/y3v4t0j90matosy/Listing%20Presentation%20x%20TEAMFAST.pdf?dl=0
https://www.mortgagenewsdaily.com/mortgage-rates
https://hmbt.co/ZpDiU3
Current Listings
** 6606 Hagen Blvd, El Cerrito, CA 94530 ------------------------------------------------------------ * Asking $1,388,000 * 5 Bed | 4 Bath * 2,530 Sq Ft
View Listing (https://www.homes.com/property/6606-hagen-blvd-el-cerrito-ca/qwf1wh48746kn/)
** 1249 Heavenly Dr, Martinez, CA 94553 ------------------------------------------------------------ * Asking $849,000 * 4 Bed | 2 Bath * 1,564 Sq Ft
View Listing (https://www.homes.com/property/1249-heavenly-dr-martinez-ca/d0jw3qyscse54/) https://www.homes.com/property/6606-hagen-blvd-el-cerrito-ca/qwf1wh48746kn/ https://www.homes.com/property/1249-heavenly-dr-martinez-ca/d0jw3qyscse54/
** County Level Data ------------------------------------------------------------ Alameda County Data (https://www.zillow.com/home-values/1510/alameda-county-ca/) Contra Costa County Data (https://www.zillow.com/home-values/3159/contra-costa-county-ca/) Marin County Data (https://www.zillow.com/home-values/625/marin-county-ca/) San Francisco County Data (https://www.zillow.com/home-values/3227/san-francisco-county-ca/) Santa Clara County Data (https://www.zillow.com/home-values/3136/santa-clara-county-ca/)
** City Level Data ------------------------------------------------------------ Alameda (https://www.zillow.com/home-values/16697/alameda-ca/) Berkeley (https://www.zillow.com/home-values/16992/berkeley-ca/) Concord (https://www.zillow.com/home-values/51518/concord-ca/) Fremont (https://www.zillow.com/home-values/97745/fremont-ca-94538/) Lafayette (https://www.zillow.com/home-values/25455/lafayette-ca/) Moraga (https://www.zillow.com/home-values/32942/moraga-ca/) Orinda (https://www.zillow.com/home-values/42569/orinda-ca/) Pleasant Hill (https://www.zillow.com/home-values/53925/pleasant-hill-ca/) San Francisco (https://www.zillow.com/home-values/20330/san-francisco-ca/) San Jose (https://www.zillow.com/home-values/33839/san-jose-ca/) Union City (https://www.zillow.com/home-values/41333/union-city-ca/) Albany (https://www.zillow.com/home-values/37073/albany-ca/) Castro Valley (https://www.zillow.com/home-values/30785/castro-valley-ca/) El Cerrito (https://www.zillow.com/home-values/51858/el-cerrito-ca/) Hayward (https://www.zillow.com/home-values/18518/hayward-ca/) Martinez (https://www.zillow.com/home-values/12592/martinez-ca/) Oakland (https://www.zillow.com/home-values/13072/oakland-ca/) Piedmont (https://www.zillow.com/home-values/6495/piedmont-ca/) Richmond (https://www.zillow.com/home-values/26751/richmond-ca/) San Leandro (https://www.zillow.com/home-values/13698/san-leandro-ca/) San Lorenzo (https://www.zillow.com/home-values/47550/san-lorenzo-ca/) Walnut Creek (https://www.zillow.com/home-values/34637/walnut-creek-ca/)
My goal is to give my clients the truth about the market, and then give them the tools they'll need to succeed.
I am always available
Westin Means (510) 735-5685 (tel:*15107355685) west@westinmeans.com DRE 02068528 westinmeansbusiness.com
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