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.
With the IPO of Facebook, the San Francisco Bay Area has a sudden influx of new millionaires. Sure, you can buy a house in Palo Alto, Redwood City or San Jose (after all, you are a millionaire now). But you can have SO much more for your money over here in the Easy Bay! Here are the top ten reasons you should consider buying your home in one of our fine East Bay cities (Oakland, Piedmont, Berkeley, Emeryville, Kensington):
Top Ten Reasons You Should Live In The East Bay:
1. Oakland is the center of the Bay Area culinary universe. It’s true! Where once was a wasteland is now a hotbed of yummy delights. Don’t believe me? Clearly the New York Times thinks so. But so does Diablo Magazine, the Los Angeles Times, and the San Francisco Examiner. With hot new restaurants like Bocanova, Hibiscus, and Wood Tavern, you definitely won’t starve for delicious food. Feeling thirsty instead: Oakland boasts amazing watering holes too. From the sleek Bar Dogwood, to the retro-hip, Bar 355 or grunge art bar, Cafe Van Kleef, you won’t die of thirst either.
2. Have kids? The City of Piedmont School District is consistently rated amongst the top 10 school districts in the state.
3. Need Play Space? The East Bay Regional Park district boasts over 111,000 acres of public land in 65 different parks. There are over 1200 miles of trails in the hills for walking, biking, and horseback riding. If that isn’t enough for you, there are city and county parks here as well.
4. Need a home with some significant square footage? The average price per square foot in Piedmont is $342. In Palo Alto the average price per square foot is $1,128!!! You can definitely make your millions go farther here than there!
5. Its a lot less foggy over here, and warmer in the Summer. It really is (you can still look across the bay, though, at the fog blanketing the West Bay)!
6. Oakland has a thriving art scene. Once a month the enormous Art Murmur takes place in Oakland’s Uptown District. There you can enjoy hundreds of small local galleries, local artisans, food trucks galore, and all of the funky fun that is Oakland’s Uptown District. Want more offbeat art? How about the Albany Bulb? Want to learn to weld, make jewelry, or spin fire? You and your kids can take industrial arts classes at Oakland’s own The Crucible.
7. Oakland has consistently been referred to as one of the most ethnically diverse cities in the United States. If you appreciate diversity, diverse opinions and variety all tied up in an air of mutual respect, then the East Bay is for you.
8. How many parking tickets have you gotten in front of your San Francisco flat? Parking over here is almost never an issue. You will gain days of your life back by avoiding the constant need to circle around in search of a parking spot.
9. The locavore movement is alive and well here. There are over 35 Farmer’s Markets to choose from on the weekends- with 12 of those in Oakland alone! My favorites are the market near Lake Merritt on Saturday (includes jumpy castles) and a very groovy version that takes over the DMV parking lot in Temescal on Sundays.
10. Lastly, you will love flying again with the easy navigation, parking and smaller security lines at the Oakland Airport. Tickets are often cheaper than SFO, too!
So, new Facebook millionaires… what are you waiting for? Give me a call and I will be happy to take you on your own private tour of the Bay Area’s best kept secret!
With a Berkeley address, and Oakland schools, houses in 94705 can sometimes be confusing. But you will forget all about the confusion when you enter this beautiful home and see the sweeping views of the bay. Twenty-three Bay Forest features 3 big bedrooms and 3 full baths, situated in a nearly 2500 square foot lot. Built in 1993, this house is in great shape and ready for its new owner.