Comments on: Oakland Price Reductions: Homes in the 400, 500 and 700k Range

By: Alison

Alison — Wed, 28 May 2008 02:12:47 +0000

GFW: huh, I would hardly call 1065 55th St. a “shitter” or a fixer…perhaps its not in a great neighborhood but it looks well-taken care of and even a bit remodeled. This would be a good first-time home for folks, not a flipper candidate. But I agree that the price must come down… and most likely will in this market.

By: mrbogue

mrbogue — Fri, 23 May 2008 15:39:34 +0000

gfw: agreed the price should come down. on the positive note it is walking distance to Arizmendi’s and KFC.

i’ve also noticed that the traffic in the adjacent strip mall died out ever since CompUSA closed. I travelled down there one afternoon recently and it was pretty much dead, with the exception of a large number of thug-looking types “just hanging out” obviously not shopping.

They better get a replacement store in there pronto, or else the place might go the way of MB mall/El Portal Plaza in the late 80’s early 90’s.

By: gfw

gfw — Fri, 23 May 2008 10:00:08 +0000

Sorry– I was talking about the house at 1065 55th St., but it goes for most Oakland fixers on the market right now…

By: gfw

gfw — Fri, 23 May 2008 09:57:57 +0000

I don’t mean to be bitter and mean, but a house in that area, even if it is tricked out, cannot go, in this market, for over 350k. So if you want to make money flipping… properties like this are a no-go.

Try to find shitters in good neighborhoods!!!