Oakland Ca Real Estate Blog 
Oakland's Cinco De Mayo!
Monday, April 28th, 2008 at 11:44am. 400 Views, 0 Comments.
With it's thriving Latino population, Oakland is home to a large Cinco De Mayo celebration every year. From Fruitvale to 41st avenue along International Boulevard, you can find food, music, cars, dancing, arts and crafts and more.
The event draws many from surrounding cities, and is a reflection of the true diversity that Oakland has to offer.
102% Financing Through Cal HFA
Thursday, April 17th, 2008 at 4:44pm. 410 Views, 0 Comments.
I've written before about Cal HFA loans, and I thought it would be good to remind you that it is still possible for certian borrowers to get a loan for up to 102% of the value of the home with Cal HFA. This means no money out of pocket for down payment or closing costs.
The way it works is as follows: You get a 1st loan for 96% of the value, then you have the option of getting up to an additional 7% in loans, either for down payment, closing costs or both. These addtional loans would come in the form of a 4% and a 3% "silent" loan, meaning you do not pay it back until you sell or refinance the home.
Of course there are income limitations with Cal HFA, and they vary according to what area the home you want to purchase is in. For "moderate" income…
Strategy For Bank Owned Property
Thursday, April 10th, 2008 at 1:05pm. 394 Views, 0 Comments.
With so many Bank Owned properties on the market, us Realtors are starting to see certain "patterns" play out in term of how the Banks are pricing them. What I've been noticing is that they are not hesitating as much to lower the price if it's been sitting for a while. I often talk to buyers who have their eye on a bank owned property, but want to wait until they reduce it further before they write an offer. However, in most cases as soon as the Bank reduces the price to a very attractive one, multiple offers come in, and now all of a sudden you are in competition.
In some situations, it may be a better strategy to go ahead and write an under-asking price offer, cutting ahead of the competition that may jump out once the price is officially reduced. As…
Lake Merritt and Downtown Slated to Be the Next BID's in Oakland
Friday, April 4th, 2008 at 1:07pm. 381 Views, 0 Comments.
BID's or Business Improvement Districts allow business owners to come together, pool resources and make improvements to their neighborhoods and businesses. These improvements result in helping ot foster economic activity, which is something that every city could use more of. In Oakland, there have been seven of these BID's created so far, and the next two to come are going to be Downtown and Lake Merritt.
Permanent FHA Reform is Needed
Friday, March 28th, 2008 at 7:28pm. 341 Views, 0 Comments.
With all the turmoil in the mortgage industry, it's good to see that they have finally raised the FHA limits for high cost areas such as Oakland (and the whole Bay Area). However the bad news is that unless there is legislation passed to extend it, these reforms will expire at the end of this year.
I realize that the main driver for this reform was to allow people to refinance into these lower-rate loans, but the reality is that buyers need more options. The best way to allow for more options without creating another subprime mess is to give people better rates on loans that are in the median price ranges of the area they live in.
Before the revised limits, the most you could get an FHA insured loan for is $417,000, now you can get a single FHA…
Congrats To Oakland's McClymonds High Warriors!
Wednesday, March 19th, 2008 at 4:42pm. 310 Views, 0 Comments.
If you are at all into sports(and even if you aren't), then you know that 32-0 is a pretty good record...for ANY team. The remarkable part is that it's a record held by Oakland's own McClymonds Warriors who are the new state high school basketball champions! I haven't been following high school basketball much lately, but when I heard this news I got excited.
Being an Oakland native and a product of Oakland Public Schools, I'm especially proud. Hats off to you fellas! Undefeated for the whole season...WOW They deserve a celebration/parade of some sort to celebrate the victory!
Units in The 8 Orchids Building at 7th & Broadway Up For Auction
Monday, March 10th, 2008 at 1:47pm. 1312 Views, 9 Comments.
As prices adjust downward, we are seeing that many of the new condo developments are having a hard time selling units. As time passes, some developers are having to slash prices in order to sell.
At the 8 Orchids building at 7th and Broadway, they have reduced the one bedroom units to $225,000, and the three bedroom units to $375,000. The building is not new construction, but it has been totally gutted and tastefully remodeled. Only time will tell how many other developers might end up slashing prices .
My Colleague Has Listed The Lowest Priced Listing in Oakland!
Friday, March 7th, 2008 at 1:41am. 389 Views, 0 Comments.
A buddy of mine in the office just listed a bank owned, small two bedroom one bath home on a small lot. Although it's in a pretty rough part of Oakland and it's a total fixer, the fact that there is a single family home on the market in Oakland for under $100,000 is remarkable to me.
New Lofts In Oakland's Laurel District
Monday, March 3rd, 2008 at 2:57pm. 713 Views, 0 Comments.
If you are familiar with the Laurel District in Oakland then you have probably noticed the new development on the corner of 35th and Macarthur across the street from Taco Bell. The lot that it sits on was vacant for many years, and I always wondered what was going to become of that real estate.
This is really the first new loft development in the heart of the Laurel District, so I see this project as being somewhat unique. There are nine units total, with the majority (seven) of them being 3 bed, 3.5 bath units from 1304 to 1410 square feet. There is also one 4 bed, 3.5bath unit and a 4 bed, 4bath unit that will be available starting late April. Pricing on the first units will range from $475,000-$525,000 and the HOA dues will be between $200.00 and…
Real Estate Auctions Can Be Risky For Buyers
Saturday, March 1st, 2008 at 4:30pm. 376 Views, 0 Comments.
The buyers market that we have been witnessing for the past couple of years has brought back the tactic of selling real estate at auction. Developers and Banks hold auctions to get rid of properties quickly, without having to wait for months while the property is marketed etc. Auctions usually draw large crowds, although usually only a handful of people actually end up bidding. There was one auction is Rockridge that brought 60 people, but only received ONE bid!
The most important thing for a buyer to know about most auctions, is that they do not allow for a contingency period for inspections, appraisal or your loan. This means that if for any reason you are not able to close (and close in 30 days or according to your contract) after having your offer…
Home Affordable Foreclosure Alternatives Program (HAFA)
On April 5, 2010 the HAFA program was rolled out. Basically it's a streamlined liquidation program that allows a homeown... 1Comments Read MoreOakland's Median Sales Price up 58%
With all the doom and gloom in the media, it's always nice to put things in perspective with some hard numbers. It would prob... Add Comment Read MoreTax Credit Deadline Extended for those In Contract
GREAT news for any first time buyer who is in contract but may not close by the June 30th deadline. The deadline has bee... Add Comment Read More
