Oakland: Great Deals I Wish I Had Waited For
I bought my Oakland house near the height of the housing bubble, circa 2006. Since then, I’ve watched with chagrin as housing prices drop like bombs all around. Still, many of the homes I’ve seen take the steepest dives have been in dire need of repair, homes that should never have gone for above $400k max, even during an overpriced housing market. So it’s given me some comfort to know that while my home price has dropped (got the assessor’s statement over the summer, wow) homes that I viewed as a “step-above” mine still had not dropped to the price I paid for my tidy craftsman bungalow (the sweet 1913 home my inspector said was solid and incredibly well-maintained). Well, today I start crying into my beer, ‘cuz I’ve found some homes that are in more desirable neighborhoods than mine and are approaching (or are at) the price I paid two years ago. Wail. Here they are:
1267 Bates Rd. is described as a “bright, sunny and cheerful” 1920′s Mediterranean in the Trestle Glen neighborhood. Priced at $529,000 it’s the lowest listing I’ve seen for Trestle Glen. Nearby properties have sold in at least the $600-$700k range; once you cross over Holman Rd. on the map you’re getting into million dollar listings.
1131 Excelsior Ave. pictured above is a 3bd/1ba 1667 SF home in lower Crocker Highlands close to the 580 freeway. It’s been reduced from $550,000 to an even $500,000 and has been on Redfin for 119 days. The property style is listed as “traditional” and I’m not sure what that means: from the picture it looks like a house you’d find in the French countryside, replete with a sloping roof that you could easily imagined thatched. Just for added flair, it has a row of impeccably trimmed lollipop tree-bushes in front. The fact that it’s been on the market for almost 4 months is odd; anyone know the story?
Finally we have 8888 Skyline Boulevard , a 2bd/2ba A-frame that will be auctioned off “to the highest bidder” on October 9th at 12pm. It’s minimum price is $449,000. While there are no photos (and I could not find any while googling either, so please let me know if you find some) it is described as having an in-law unit that rents for $850/month. So will it come with the renter? That’ll do nicely for the mortgage payment if so.
