There is a great article over at Berkelyside that details the exact level of pain and suffering it takes to prevail on a house purchase in Berkeley these days. Check it out here.
Attached is the Sunday Open House list:
Happy Mothers Day!
SF Curbed, our local real estate blog, reports that here in the Oakland, median home prices have increased even faster than in the city of San Francisco. Based on data from Ziprealty, SF Curbed reports the median home price in Oakland has increased from $245,ooo last year to a whopping $432,000 this year! By contrast, San Francisco’s median home price has only increased 20% over the same time period. Wow.
However, the article also notes: “the actual dollar amount (Oakland’s median price) is still only half the median home sale price in San Francisco.” So, although prices are exploding here in the East Bay, home prices here are still an amazing bargain compared to the city across the bay. Below is a graphic of zip code by zip code median home prices here in the East Bay (courtesy of Ziprealty). See the full SF Curbed article here.
Interestingly, the map leaves out one of the most expensive neighborhoods in Oakland, namely Rockridge. The current median price in Rockridge according to DQ News is $700,000.
John Wheatley has a great article on how he went about purchasing a property specifically to rent out via AirBnB. If you are not familiar with AirBnb, go and check it out. My wife and I have used it many times when visiting other cities. Basically the owner is renting the property out on a several day to week long basis. This sort of arrangement allows for much higher rents than monthly leasing. Another similar site to AirBnB is VRBO (Vacation Rentals By Owner).
Here is John’s article, chock full of tips and tricks.
South Berkeley bungalow w/ separate 2 BR cottage!The main house features an open living & dining room,cozy fireplace & built-ins. Sunny kitchen w/ Carrera couners & breakfast nook. Two BR cottage has eat-in kitchen,sunny living room, newer windows & separate patio. 1 block to San Pablo Park.