Oakland Bargain Basement: Homes Under $400k

buy.gifIf you want to score a bargain in the Bay Area, Oakland might be one of your best bets. Not only are prices ebbing to levels not seen in 10 years, but with Oakland you have a centrally located urban hub. With BART, AC Transit and access to 880, 580, 13 and 24, living in Oakland allows you to reach San Francisco, Berkeley, other parts of the East Bay as well as the North and South Bay quite easily. A couple of months ago I was incredulous at what I thought were huge price slashes in Oakland. Now I’m realizing that was just the tip of the iceberg. It’s becoming commonplace to see homes that were once sold for $600,000 barely 1-2 years ago going for less than 50% of their pre-housing-meltdown value ( 879 44th St. is an example, see below). Oakland renters, this is your chance!

2637 23rd Ave. 2bd/1ba 672 SF
Original Price: $246,900 Reduced to: $209,900
Previous high sale: $400,000 in April 2006

2736 Myrtle St. 2bd/1ba 900 SF
Original Price: $168,000 Reduced to: $129,000
Previous high sale: $810,000 in June 2006

1137 34th St. 5bd/1.5ba 2015 SF
Original Price: $628,000 Reduced to: $360,000
Previous high sale: $640,000 December 2005

3029 Chestnut 3bd/1ba 1084 SF
Original Price: $360,000 Reduced to: $319,000

879 44th St. 3bd/1ba 1615 SF
List Price: $250,000
Previous high sale: $600,000 in August 2006