April 2008

Oakland's Cinco De Mayo!

Monday, April 28th, 2008 at 11:44am. 627 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.

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102% Financing Through Cal HFA

Thursday, April 17th, 2008 at 4:44pm. 657 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…

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Strategy For Bank Owned Property

Thursday, April 10th, 2008 at 1:05pm. 631 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…

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Lake Merritt and Downtown Slated to Be the Next BID's in Oakland

Friday, April 4th, 2008 at 1:07pm. 625 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.

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