Oakland: Bank-Owned Listings
While foreclosed homes have brought economic lows to the country and heartbreak to their current owners, the flip side is that they are now providing a way in to homeownership in the Bay Area for many who thought they could never own. While the process of buying a bank-owned home may seem daunting (the first challenge being sifting through the hundreds, perhaps thousands if you are considering several areas, on the market) it may be well worth it, especially if you qualify for first-time home buying programs. To whet your whistle I’ve sorted through the Redfin listings of Oakland bank-owned homes and chosen a few below. All homes below (with the exception of the Excelsior one) are going for more than $200k off the previous high sale.
The listings I’m highlighting today are all in East Oakland. Maxwell Park and the Millsmont area are historically popular for their proximity to Mills College and family feel. The home at 10782 Hellman St. is listed as in the Chabot Park area; on the map it looks very close to the Oakland Zoo, not as close to Chabot Park but not too far either. Areas near Lake Chabot and the regional park can be hilly with nice views and depending on how close, very green with trees. Finally, the home at 1401 Excelsior Ave (pictured above) is listed as being on Bella Vista Hill, however it seems more like “lower” Glenview, since Bella Vista Ave. is on the other side of the freeway.
2754 Kingsland Ave. Maxwell Park
4bd/2ba 1596 SF
List Price: $354,900
Stucco craftsman bunglaow
Previous high sale: $590,000 October 2005
3700 Lundholm Ave. Millsmont
3bd/2ba 1616 SF
List Price: $429,900
1960’s Stucco
Previous high sale: $745,000 January 2007
10782 Hellman St. Chabot Park
4bd/2ba 2238 SF picture here
List Price: $489,900
Previous Sale: $692,160 November 2007
1401 Excelsior Ave. Bella Vista Hill/Lower Glenview
3bd/1ba 1200 SF
List Price: $519,900
Previous Sale: $448,768 April 2008
Described as an “As-Is” sale.
David said:
2754 Kingsland needs a lot of work, which is sad, because thanks to the miracle of Google, it was a cute, well-kept house before the people who bought it last (the ones who “owned it” when the bank took it).
It looks like whoever it was tore out a lot of stuff, failed an attempt at a remodel, and to top it off, the garage appears to be falling down shortly (and it shares a driveway with the neighbor).
I’m sure it could be cute again, but it took more than my imagination and likely $$$ in the bank to think about this one for me.
June 9, 2008 10:18 PM
Alison said:
Hi David, thanks for your comment. That’s too bad about an apparent failed remodel.. Also, what do you mean, “thanks to the miracle of Google?”
June 10, 2008 11:18 AM
David said:
Kingsland was sold last by Kate Phillips (her website came up in a google search on the address) and her website happened to have pictures from when she sold it on behalf of the last person(s) to have owned it. Looked cute.
June 10, 2008 12:49 PM
bajeckabean said:
Yeah, I saw the Kingsland house too and it was a pretty bad looking wreck. It had dog feces on the floor all over inside and was just in really bad shape.
It’s a cute house from the outside and could be really nice with some money and elbow grease. I’ve got the elbows but not the money for that one.
I drove by it the other day and saw someone out front clearing debris so maybe it’s been purchased?
September 17, 2008 12:59 PM
Alison Ching said:
Hi Bajeckabean:
whoa, I draw the line at dog feces. Yuck. Since it’s off the market now, perhaps someone did buy it. Or maybe the bank is cleaning it up to sell? A colleague of mine just bought a foreclosed home in Southern Cali to use as a rental and he said the bank actually made improvements to the home to sweeten the deal; it was in move-in condition once he closed.
September 17, 2008 1:06 PM