The new listing at 935 Fresno Avenue in Berkeley is a perfect example of the type of home that would have been sniffed at 20 years ago. It would have had 3 strikes against it: It needs a lot of work, it’s in the flats, and it’s less than a block from a busy shopping district. Now, those 3 strikes have become 3 home runs. Today’s Buyers love fixer-uppers, because most first-time Buyers are simply priced out of anything else. (Thus, the relative demand and proportionate pricing for fixers has gone way up.) They love the flats, where they are connected to those things they value for themselves and their families — walking to schools and shops, access to public transportation, seeing their neighbors out walking their dogs, block parties and chatting over the garden fence. And they love being close to shopping avenues — several of my recent sales have been just a few doors off busy avenues, and in each case, there has been fierce competition and escalated bidding. “The Flats” have become the new high-end location.
If you are thinking of buying or selling a home near Solano Avenue, this is a good one to watch, to see what happens to the differential between asking price and selling price.
935 Fresno Ave, Berkeley
3 bedrooms, 1 bathroom, 1382 square feet
One-half block from Solano Avenue
Represented by Jane Strauch, Grubb Company
List price $1,025,000 — but watch what happens with overbidding!
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