January 7, 2008
In Berkeley A Buyer Needs Something To Buy
By one account, there are currently a mere 65 homes for sale in Berkeley as listed on the MLS. The price breakdown is as follows:
They say it’s a buyers’ market (and if you look closely they’ve been saying it for some time) and, as you may know, I am (perhaps unwisely) chomping at the bit to buy.
But just look at that meager table: no matter which price category I happen to fall into — and even given that the data may not be a totally true reflection of reality — there is barely anything out there for buyers like me to actually buy. (Even if I were rolling in legal tender, I don’t think those lead-glass doors — below — in the most expensive home on today’s list are quite my style.)
So, say I decide to wait it out and continue renting for the foreseeable future. Well, the same source lists just six possible rentals in Berkeley, only one of which is a single family home. (For some reason rental homes are hard to come by in this city. University professors going on sabbaticals provide one source — but that’s a short-term option — otherwise word of mouth seems to secure the best results.)
This sad state of affairs does not seem to be reflected everywhere in the Bay Area. According to my South Bay/Silicon Valley Sweet Digs colleague Brenda Keener, I would have the pick of 4,073 properties listed on MLS if I decided to move to San Jose.
Anyone know the way?
dan said:
Not sure if you’re serious but.. I’m sure those numbers are about to change, at least for sales as opposed to rentals. People don’t want to put their houses on the market between mid-November and mid-January. I’m one of those people; we moved out of our Redwood Hts (Oakland) home at the end of November but it’s not going to be on the market until this friday. So little has been on the market in our neighborhood since the summer, that it’s hard to predict how things will go..So, want to buy a beautiful home in Oakland?…
January 7, 2008 2:04 PM
Tunguska said:
BRAVO Tracey!
Rent for a while, take it easy, take your time.
You can expand your search area because renting is not a long term commitment unless you want it to be.
Craigslist is a good place to find rentals too.
January 7, 2008 5:31 PM
Tracey Taylor said:
Dan: I hope you are right. I think you may well be, as I am now beginning to hear of homes that are coming on in the next few weeks. As for your house — it sounds tempting. We have set our sights on Berkeley because we love it and because we hope our kids can go to Berkeley High when the time comes. But if the right house came along in a part of Oakland we like(yours perhaps?) we would pounce!
January 7, 2008 5:34 PM
tracey.taylor said:
Tunguska: for someone who reads a real-estate blog you’re very pro renting! Craigslist is a good thought — though often I find there are a fair number of condos but not so many family homes for rent.
January 7, 2008 5:37 PM
sc said:
On Craigslist, there are over 20 rentals available in Berkeley, not including surrounding areas like rockridge etc.
Many appear to be SFR’s.
January 7, 2008 7:17 PM
Adam said:
http://sfbay.craigslist.org/eby/apa/529602954.html
What the doctor ordered? If you were buying, that amount monthly would get you a tiny place in South Berkeley with bars on the window.
January 7, 2008 7:32 PM
Tracey Taylor said:
SC and Adam: I am touched. Truly. To seek out listings for me and even cherry-pick one potential home. Thank you. I will keep you posted on progress, literally.
January 7, 2008 9:36 PM
d gordon said:
Yep, CL is where it’s at for rentals, at least until they ever charge for listings.
I would wait definitely wait, Tracey. Shoot for 2009 to start looking to buy in Berzerkeley.. unless you find the house you have always dreamed of sometime in 2008 way underpriced and plan to stay there a long time.
Good luck house hunting.
January 7, 2008 11:44 PM
Tunguska said:
Tracey, I am interested in housing! That’s why I look at real estate blogs. Your’s is great because it is so specific to the area I’m interested in. Real estate and rentals fulfill the same basic human need. I’ve found that renting is a great option that many people overlook.
I have a wife and one toddler and we rent in the Piedmont Avenue area and love it. The house is big, renovated, costs 2500 a month, and we can stay here as long as we like (the landlords are totally cool and financially stable). The money from the sale of our previous house is sitting the “bank”.
I’m not sure how old your kids are, but HS for us a a while off so this area makes sense for now.
Again, prices will most likely be MUCH lower in 2-3 years.
January 8, 2008 9:44 AM
David said:
Don’t understand why anyone would want to live in berkeley, but rentals will come on the market in summer of course when students leave.
If you can handle not living in Berkeley proper, I would go for Albany north of Solano or Rockridge for obvious reasons (better schools, restaurants, more for your money, both rental and buying). Why pay a premium to be near UC if you don’t go there?
January 8, 2008 1:26 PM
Tunguska said:
David - Albany is a little too quiet for me. I prefer College Avenue to Solano. Rockridge is wonderful, but high school is a problem.
Berkeley has just the right mix for some people.
January 8, 2008 1:36 PM
David said:
Heh. I used to live 2 blocks from Berkeley high school. Wasn’t that impressed, except by the amount of illegal substances the kids would consume in broad daylight during school hours.
But whatever/wherever you like obviously. Just not my scene after living there for 6 years. Not really my scene during those 6 years, but I had a cute little house I was reluctant to leave.
D
January 8, 2008 10:19 PM
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January 23, 2008 1:59 AM
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January 23, 2008 2:31 AM
Tracy said:
Hi. If you’re keen to look a little farther out there are TONS of homes listed in El Cerrito and Richmond Annex area (2 Bart stops away from Berkeley). These houses are going for a steal at the moment and may be a good first home investment until the market picks up and then you can sell for more and move to your dream location.
February 20, 2008 7:09 PM
tracey.taylor said:
Tracy: Thank you for the tip but you know how it is. I’ve lived in the same area since I moved here from London and my family has put down roots. I don’t want to start again. So I will stubbornly persevere against the odds! Thanks for the comment.
February 20, 2008 10:49 PM