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Old 04-06-2011, 10:49 AM
 
277 posts, read 94,279 times
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Default House Affordability in Berkeley-Oakland Area?

My sister has been house hunting in the Oakland, Berkeley area for a 3 bed 2 bath house, no condo, near downtown, and under 400K. So far nothing, I was up there this weekend and everything in that range is in some pretty bad parts of Oakland or way out by the Oakland Zoo and even then they are very tiny homes like 1100 square feet with odd shaped rooms. She does not want to go out further east due to not wanting to commute and not liking the area. Is it even possible to find something of decent size that is in a decent area for under 400k? So far it seems impossible.
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Old 04-06-2011, 02:04 PM
 
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Quote:
Originally Posted by Setsuko View Post
My sister has been house hunting in the Oakland, Berkeley area for a 3 bed 2 bath house, no condo, near downtown, and under 400K. So far nothing, I was up there this weekend and everything in that range is in some pretty bad parts of Oakland or way out by the Oakland Zoo and even then they are very tiny homes like 1100 square feet with odd shaped rooms. She does not want to go out further east due to not wanting to commute and not liking the area. Is it even possible to find something of decent size that is in a decent area for under 400k? So far it seems impossible.
All depends on location and condition...

I have seen some 2400 square foot home in the Oakland Hills above the zoo in her range.

The last one also had a panoramic view from the Santa Cruz Mountains to the South and Mt. Tam to the North... the view bumped the price to 500k and it went pending in 12 days.

Most of the older homes are closer to downtown and many are of modest size and one bath was the standard for many years.

50% of the homes are going to investors with deep pockets... so I think she really needs to work with an agent to find the listings before they hit the MLS...

A lot of my best finds were brought to me... I'm not a Realtor.

I've always found Berkeley to be a unique market... so I can't advise you.
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Old 04-06-2011, 02:40 PM
 
Location: Zurich, Switzerland
24,605 posts, read 29,988,241 times
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$400,000 is not a huge amount in Oakland for what it seems like your sister is looking for.

However a quick glance on realtor.com(Im not a realtor btw) yielded 2 incredible finds that look like fixer uppers but I think are very nice for the price:

$399,000 for Montclair is actually a steal...and the commute to Downtown Oakland is relatively quick.
44 Glenwood Glade Oakland CA - Home For Sale and Real Estate Listing - MLS #40513260 - Realtor.com®

$395,000 for this one. Not bad at all in a quiet hillside neighborhood. Commute can be an issue on 580(Id say allot 30 minutes by car to Downtown Oakland)
4815 Reinhardt Dr Oakland CA - Home For Sale and Real Estate Listing - MLS #40495052 - Realtor.com®
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