At the beginning of May, I always start to get excited about the Lafayette Kitchen Tour. No matter how many houses I see throughout the year, I love the kitchen tour because it is a great opportunity to see new kitchen design trends and the creative new choices homeowners are making in their kitchens, while at the same time supporting local charities. If you are thinking about remodeling and need ideas or if you are preparing your home for market, the kitchen tour is a great way to do research.
As the spring market unfolds this year, it is important to keep in mind that buyers are paying a steep premium for homes that are completely remodeled to the taste of today’s buyers. For example, 1083 Upper Happy Valley Road, listed for $1,625,000 just sold for $1,905,000. We are hitting new highs in terms of price per square-foot: At 2,073 sqft, 1083 Upper Happy Valley Road sold for $919 a square-foot. In addition, 3943 S. Pearldale sold for $994 a square-foot in March. Although both of these homes were on the smaller side, they were both completely remodeled.
Many families moving to Lamorinda have two working parents and do not feel that they have time for remodel projects and are willing to pay a premium for something done. In this market it pays to update kitchens and baths and professionally stage your home as long as you are making choices that appeal to new buyers’ tastes. Make sure you consult with your realtor to ensure you are picking the right finishes.
CNBC recently reported that this year’s spring market is the “Strongest Seller’s Market Ever”. They also state that San Francisco tops the list for the the largest number of people looking for homes to purchase outside of their city. Mortgage rates have recently come down and remain near record lows after creeping up slightly at the beginning of the year. The relatively cheap cost of money has certainly helped the spring market.
Now back to the kitchen tour - This self-guided tour will be held on Saturday, May 20th from 10am to 3pm and welcomes guests into six special Lafayette homes with masterfully designed unique, elegant, and awe-inspiring kitchens. Proceeds from this year’s event benefit the work of four local non-profit organizations: Contra Costa Interfaith Housing, Alternative Family Services, The Taylor Family Foundation, and Trinity Center. These organizations were selected by the Lafayette Juniors for the support they provide to women, families, and individuals in need throughout the East Bay.
Tickets are $40 ($35 tax deductible), with a box lunch available for $15. Tickets can be purchased online at www.lafayettejuniors.org and are also available at Premier Kitchens in Lafayette.
Hope to see you on May 20th . Please feel free to email me or call with your real estate questions – I can be reached at firstname.lastname@example.org or at (925) 951-3817.