When German inspired, Gaumenkitzel closed its doors in March it was a surprise. Now the space is home to a brand new cocktail bar/BBQ joint. And Anja Voth, owner of Gaumenkitzel, is opening a new restaurant.
HEADS & TAILS BARBECUE
2121 San Pablo Avenue | Berkeley
Operating Partner Drew Majoulet has gone on record saying that they want this place to be known, first and foremost, as a bar with approachable food. He says it’s “not for BBQ nerds and it’s not for cocktail nerds” it’s really hoping to be a “low-key” place. With that being said, both the BBQ and the cocktails are pretty highly recommend the brisket melt sandwich if,
1966 University Ave | Berkeley
After making the difficult decision to close Gaumenkitzel earlier this year, it was unknown whether or not Anja Voth would reopen the restaurant elsewhere. The new space, which is much smaller, will not replicate the previous restaurant but it will carry on its culinary spirit. The inside seats 10-14 but there is a shared garden space behind the shop. Anja’s will start off focused on breakfast and lunch but likely to expand to dinner a few nights per week.
Impact Of The Election On The Housing Market
Spoiler alert: I’m not a Pulitzer Prize winning journalist. And if you were hoping to get a politically charged rant, sorry. No go. Instead, I want to touch on something I hear quite often when people talk to me about real estate and that is The Election.
It’s not uncommon for folks to pontificate on how drastically the housing market will change, one way or another, if Candidate X wins. Honestly, they are very entertaining conversations to have.
Historically, however, there has been little evidence to suggest that elections have a significant or consistent impact on the housing market. Studies from Freddie Mac indicate that, while election cycles may introduce very legitimate short-term uncertainty in the economy, the housing market typically remains influenced by more stable factors such as interest rates, employment levels, and overall economic growth.
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MAKING THE CASE FOR REGULAR PEST INSPECTIONS
When I first began working as a real estate agent one of the first pieces of advice my mentor gave me was to advise my clients to get pest inspections every 3 years.
That advice didn’t seem too important at the time given all that I was absorbing, but a few years later it is one of the most common things I advise home buyers.
Last week I came across a scenario that illustrates the importance of this advice.
While reading through the pest inspection on a Berkeley home for a client, the pest inspection identified $94K worth of repairs that were called for on the Sec 1 of the report (I’ll explain Sec 1 below).
When I spoke to the listing agent about the report, this is what he shared with me: “Back in 2017 when I helped this family buy the house there was $34K worth of repairs on the report. Since then they haven’t made any repairs and now we’re at $94K.”
While I don’t expect that most home owners can easily put down $34K on repairs, the damage to wood that can occur when not addressed can be substantial and accelerated. Especially when we have a wet winter.
What is Sec 1 of a pest inspection? This is where the pest inspector has infestation to wood on the home. They not only list the area that is damaged but they’ll also provide an amount to remedy the damage.
Sec 2 of a pest inspection is where the inspector identi fi es conditions that exist that could potentially lead to an active infestation.
Keep in mind that damage to wood can be caused by insects but more often it’s caused by water/moisture. The cost for a pest inspection averages around $400+/-.
SOURCE: Freddie Mac Analysis, May 2024
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However, the 2024 election cycle might break this historical trend. For the first time in recent memory, housing affordability has become a top concern for voters across the political spectrum. The National Association of Realtors (NAR) reports that housing affordability is at its lowest level in decades. A Gallup poll in May found that the cost of owning and renting a home was the No. 2 most important problem facing families. A Redfin commissioned survey in March showed that more than half of Americans said that housing affordability is impacting who they will vote for this cycle.
Higher interest rates and increased construction costs have contributed to slower housing development over the last few years. Depending on where you look, there is a shortage of 1.5M-2M homes in order to achieve a balanced housing market.
As the presidential race is about to really ramp up, candidates are beginning to unpack their positions on top issues and housing is becoming one of them. Both candidates have called for an increase in housing supply as a way of bringing down the costs but, are you ready for this . . . they have completely different plans on how to achieve the goal of increasing housing. While there have been some plans laid out already, the coming months will most likely see a much bigger national spotlight on the topic.
While it remains uncertain how much impact the 2024 election will have on the housing market, the unprecedented focus on housing affordability suggests that political outcomes may play a more significant role in shaping real estate trends than in previous years. This could see political decisions more directly influencing market behavior, making it essential for buyers, sellers, and investors to closely monitor the evolving political landscape. Stay tuned . . .
Market Pulse
Just like that, the highly speculated rule changes for real estate have been implemented. And guess what?! Offers were made, homes continued to sell and other than an extra layer of communication, it was business as usual. But make no mistake, the rules governing real estate transactions are continuing to evolve and it’s widely accepted that we have not seen the end of changes. More on that in future issues.
So where are we now?
When it comes down to it, conversations on both sides (selling & buying) are centering around net sheets. Specifically seller net sheets. Because at the end of the day, what a seller actually walks away with is what matters most. This is what is going to have the biggest impact on which offers are accepted.
So what does that mean for buyers?
For buyers to have success in a sellers market they need clarity. Clarity in all areas. With the new emphasis on net sheets, buyers will be doing themselves a favor by thinking like the seller. While the purchase price is the obvious headline grabber, keep in mind there are other factors that can be creatively leveraged to position an offer as more beneficial to the seller. Take into consideration:
• Concessions - this one is pretty obvious. This is where buyers can negotiate all, some or none of their broker commission to be covered by the seller.
• Terms - understanding what is most important to the seller is pivotal. They may need a rent back, they may be in a bind and need a quick close. Either way, understanding their overall situation is critical to constructing a favorable offer.
• City Transfer Taxes - depending on the purchase price in Berkeley, city transfer tax can go from 1.5% to 2.5%! This cost is split between seller & buyer and understanding exactly what impact this has on the seller is important.
• Capital Gains - depending on the amount of equity in the home the seller may end up paying more in taxes depending on the sale price.
Mom’s Blackberry Cobbler
Growing up this was always the time of year my mother would take our family out to pick blackberries at their peak sweetness. While there were certainly prickled fingers and stained thumbs, the
• 1/2 tsp kosher salt
• 6 tbsp cold butter, cut into pieces
• 1/4 boiling water
• 2 tbsp cornstarch
• 1/4 cup cold water
• 4 cups fresh blackberries
• 1 tbsp lemon juice
Steps
1. Preheat over to 400°, line a baking sheet with aluminum foil.
2. Mix flour, 1/2 cup sugar, baking powder, and salt together in a large bowl. Cut in the butter until the mixture resembles coarse crumbs. Stir in boiling water just until the mixture is evenly moist.
3. Dissolve cornstarch in cold water in a separate bowl. Mix in remaining 1 cup of sugar, blackberries, and lemon juice. Transfer to a cast iron skillet and bring to a boil, stirring frequently. Drop in spoonfuls of dough and softly spread the dough. Then place skillet onto baking sheet.
4. Bake in the preheated oven until dough is golden brown, about 25 minutes.
P.S. Tilden Park & Cordonices offer some excellent blackberry picking options. Otherwise, you can hit up your local grocer . . . just don’t use frozen!
JOIN
Upcoming Events
Sept 1st | Oakland Museum of California
Michael Perry
510.641.6543
m.perry@ggsir.com 1559 Solano Ave. Berkeley, CA 94707
Lic #02193642
First Sundays at Oakland Museum of California are free and tickets to special exhibitions are discounted to $6! Enjoy the OMCA Kids Nature Playspace and a rotating selection of exhibitions year round. First Sunday of each month.
Sept 6th | Triple Rock Brewery 6 PM
Berkeley Born & Brewed is a celebration of two of Berkeley’s finest: Triple Rock Brewery & Lyrics Born. Triple Rock is celebrating its 40th anniversary of being a staple tap house for locals and Berkeley’s own rap ambassador, Lyrics Born, will be performing his hits along with a live band. Tickets are $25 and available at www.eventbrite.com
Sept 8th | 48th Solano Avenue Stroll 10am-5pm
The East Bay’s Largest Street Festival
Come and enjoy the mile long celebration with over 400 vendors including entertainers, food booths, artists, crafters and family fun. Admission is free but parking can be tricky so get there early.
Sept 13th | Piedmont Piano Company 5:30pm
Looking for a good date night? Why not enjoy listening to 3 time Grammy nominee, Italian singer Roberta Gambarini perform with pianist Tamir Hendelman. The intimate setting of the Piedmont Piano Co. is the perfect spot for a much needed date night. Tickets avail at www.piedmontpiano.com
Sept 20-22 | Oakland A’s Final Weekend
Farewell to the Coliseum This may not be the last game at the Coliseum but it sure is likely to be the last fun game at the Coliseum. Come bid an emotional farewell to the A’s as they look to sneak a win out against the NY Yankees. This might end up being the biggest crowd its seen since the 90’s.
