Oakland Real Estate 
General issues in the Oakland real estate market.
There are currently 22 blog entries related to this category.
The Oakland Real Estate Market is HOT
Wednesday, May 30th, 2012 at 2:41pm. 545 Views, 0 Comments.
I'm happy to say, that there is definitely a significant increase in activity compared to this time last year. Multiple offers are becoming more and more common, I've had several clients in the past few months get outbid on properties. One recent client purchased a home in Castro Valley and paid over 25k over the asking price.
The inventory of homes for sale has went down, which means that naturally demand is increasing. In addition to near historic low interest rates, this has led to our Market in Oakland and the surrounding East Bay to really heat up. I'm hopeful that this also means that we are closer to the days when foreclosures and short sales are just a small fraction of the market...as they should be. Condo developers are putting units on the…
New Sewer Lateral Ordinance for Oakland Real Estate
Tuesday, February 21st, 2012 at 4:46pm. 1415 Views, 0 Comments.
As of January 16th of this year, Oakland now has a city wide sewer lateral ordinance that affects the sale of all Single Family homes in Oakland. Similiar to Berkeley and Alameda (which already had sewer ordinances) real estate transactions in Oakland will require a certifcate of clearance prior to the close of escrow. The ordinance applies to:
1. Any transfer of title
2. A remodel which exceeds 100k in value
3. The installation of an updgraded main water supply line
It is not the buyers or sellers responsibility to pay, that must now be negotiated unless the seller already has it done. This applies to short sales and foreclosures as well, so it's something to keep in mind when making an offer these days. If the work isn't done prior to escrow, then…
AB29-Annual Firefighting Fee
Friday, December 2nd, 2011 at 1:37pm. 1298 Views, 0 Comments.
If your home is in a designated wildland fire area, there is a new $150.00 annual fee that will be assessed to you to help pay for fire prevention services. There is a lot of real estate in Oakland and the the rest of the East Bay that are in high fire areas, and homeowners in these areas already pay a supplemental tax to pay for fire services. This new annual fee will be in addition to any special assesments that already exist for a particular area.
Are you eligible for a City of Oakland Real Estate Transfer Tax Discount?
Wednesday, May 25th, 2011 at 10:19pm. 1246 Views, 0 Comments.
If you are planning on buying a home in Oakland, then you should know that you may be eligible for a discount on the real estate transfer tax (a tax that the city collects on every real estate transaction in Oakland). This can save you some cash at the closing table, so look into it to see if you meet the requirements.
4.20.080 - Exemption for low and moderate income first-time homebuyers.
Section 4.20.020 notwithstanding, the tax on all transfers of real property located in the city made on or after August 10, 1993 in which the buyers are low and moderate income first-time homebuyers shall be levied at the rate of one and one-quarter (1.25) percent of the value of consideration. For the purpose of this section, "low and moderate income first-time…
Quarterly East Bay Real Estate Market Report
Friday, May 6th, 2011 at 11:57am. 796 Views, 0 Comments.
The link below will take you to a video which was done by the Vice President of our company, it's outlines what the real estate market has done over the last quarter.
Guest Article "Real Estate" Finally a Good Investment?"
Wednesday, January 19th, 2011 at 12:12pm. 791 Views, 1 Comments.
I was forwarded this interesting articel by a fellow agent about the state of the real estate market and current projections.
Real Estate Market Report for Alameda County
Wednesday, November 17th, 2010 at 11:01am. 817 Views, 1 Comments.
Despite a slowdown in home sales following the expiration of federal tax incentives, a declining inventory of entry-level and bank-owned homes andmultiple offers on many properties helped propel home prices higher on an annualized basis in Alameda County during the third quarter, according to a report by the research division of Better Homes and Gardens Mason-McDuffie Real Estate based on an analysis of MLS data.
Countywide, 2,343 existing, single-family detached homes changed hands in the third quarter, a 17 percent drop from the second quarter and 25 percent below the 3,110 homes sold in the third quarter of last year. Ironically, homes sold at an extremely rapid pace. The average number of days on the market before sale fell to only 38 days for the…
Oakland Down Payment Assistance Still Available
Thursday, October 28th, 2010 at 5:29pm. 1931 Views, 0 Comments.
The City of Oakland has had a program in place for several years to help assist first time buyers purchase Oakland real estate. The program allows for a borrower to get a second loan for up to 20% of the purchase price of the home. This loan does not have to be paid back to the city of Oakland until the house is sold or refinanced.
For many first time buyers, this is a big deal because it prevents them from having to dish out the large downpayment, which is often the biggest obstacle. There is no definitive timeline as to how long this program will be in place, basically until the money runs out.
See the link below for details on how to qualify.
Oakland's Median Sales Price up 58%
Tuesday, July 20th, 2010 at 2:01pm. 767 Views, 0 Comments.
With all the doom and gloom in the media, it's always nice to put things in perspective with some hard numbers. It would probably shock many people to know that the median sales price in Oakland is actually up 58% year to year.
The chart below illustrates:
Don't Skip The Home Inspection
Wednesday, May 5th, 2010 at 11:25am. 899 Views, 0 Comments.
Every now and then I come across a buyer who questions whether or not they really need a home inspection, and I always have to stress to them the importance of getting one. If there is already a home inspection done before the home hits the market (pre-sale), then as long as it was done by someone reputable you can feel pretty comfortable trusting the information they provide. Some buyers choose to hire another inspector of their choosing just to be sure.
However on almost all short sales and foreclosures (which makes up over half of the current market) the sellers never have pre-sale inspections done, which makes it hugely important that you get one done as soon as you are in contract. I would say it's most important when dealing with a foreclosure,…
The Oakland Real Estate Market is HOT
I'm happy to say, that there is definitely a significant increase in activity compared to this time last year. Multiple offer... Add Comment Read MoreShort Sale Debt Cancellation Set to Go Away
Originally, when you did a short sale you were taxed on the amount that you were forgiven by the lender. This was a seri... 13Comments Read MoreChanges To FHA Mortgage Insurance Premium
The Federal Housing Administration recently announced an increase in the upfront Mortgage Insurance Premium. Mortgage insuran... 4Comments Read More
