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.
Art said:
1131 Excelsior is sitting basically next to the 580, so I wouldn’t feel too bad about that one! I’m curious about Bates, though—perhaps it’s just that it’s quite small and that’s a family-oriented neighborhood?
September 18, 2008 11:53 PM
dg said:
I saw photos on ziprealty of 8888 Skyline earlier today.
September 19, 2008 1:09 AM
peninsula renter said:
and 1267 Bates has some neighbors on sale that look like they will lose big…
1357 BATES Rd – listed $685k(55days), last sale $785k in 2006.
1206 TRESTLE GLEN Rd – listed $749k(133days), last sale $840k in 2006.
September 19, 2008 5:35 AM
rbehs said:
I believe Bates is under large powerlines.
September 19, 2008 9:19 AM
optionarm said:
In the street view for Bates, if you angle the view upwards, you can see the enormous power structure.
September 19, 2008 10:00 AM
Alison said:
Hi Art, thanks for commenting. Close-freeway proximity can be a major downer, so ok, I won’t feel bad about the Excelsior one, lol! As far as Bates… it’s a 2bd/2ba and over 1000 sf so not bad for a small family. Perhaps its due the “large powerlines” that rbehs mentioned. Would that be an earthquake hazard? Or even a health hazard..?
DG: thanks for the heads up about photos. I will check them out asap.
Peninsula Renter: ooo, maybe. That is a lot of DOM. Thanks for pointing those out, I will look into them.
Rebs: thanks for the great tip. That’s interesting; checking for large powerlines is not something that I had on my house-hunting checklist, but if they’re that big, I guess it would obviously be something to take note of. Thanks!
September 19, 2008 10:03 AM
Alison said:
Optionarm: thanks for the comment! We must have posted right at the same time because I just saw your comment now. OOOOO wow! I just angled up and I see what you mean. That is gigantic. Looks like it’s right smack in the back yard.
September 19, 2008 10:06 AM
Art said:
We looked at another house in Trestle Glen last summer (maybe it was even on Bates?) that had the same problem—a gigantic transformer sitting next door. In addition to being a giant eyesore, it also hummed audibly (which gave our realtor pause before she took us in!) I remember wondering if PG&E had had to pay the owners anything for the loss in property value when they installed the thing….given that a lot of Trestle Glen’s appeal is for families with young children who are school-hunting, I could see that being a dealbreaker for lots of folks.
September 19, 2008 10:17 AM
David said:
Yeah, the problem with powerlines is not the EMF, but that g****** noise.
September 19, 2008 10:21 AM
Jackie Aldridge said:
No, it’s the EMF.
September 19, 2008 8:14 PM
Adam said:
That whole area in Glenview/Trestle Glen has a series of streets that are straddled with massive transformers and power lines that are not only unsightly, but might even pose some health hazards of some sort. It’s hard to imagine that they wouldn’t. That said there are some nice homes in the area, but the other thing I find slightly off putting is that a lot of the streets are very narrow and parking is a bit wonky at times.
Not my cup of tea, but the area does have some nice homes and the prices being what they are could make it more appealing for the right buyer.
It’ll be interesting to see how all this plays out across the Bay Area.
September 20, 2008 9:05 AM
Ella said:
Yes, but does anyone have any reliable information one way or the other about the potential effects on health of living near EMF, and what numbers they have to be?
June 30, 2009 9:39 PM