Oakland, CA

Blog with news about the Oakland California high-rise condominium and loft market.

There are currently 11 blog entries related to this category.

I felt inspired to write this piece this week after learning how few colleagues intend to hold open houses for their listings and reading about how charities are overloaded with well-intentioned volunteers who want to work with the less fortunate and count their blessings--only this time of year. I relate this to the perpetual busyness everyone complains about when not focusing on their home search. Historically, the holidays have proven an excellent time for buyers, from reduced competition to sellers wanting to unload for tax purposes. Read on for all 5 reasons to purchase now--with the bonus 6th reason that I’m here to help!

1. Decreased competition. Have you been making the busyness excuse? Too busy to get pre-approved or to meet up and discuss

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As mentioned in my In Defense of the HOA (Dues) article, the number one objection I get from buyers is that condos will cost them more than houses because of HOA dues. Given the age of houses here in the Bay and the amount of maintenance and upkeep they require, and given my personal receipts, I feel it’s safe to say that a condo will generally cost less in monthly maintenance. That still doesn’t mean it’s right for you. Let’s look at some myths and facts about condos vs. houses. 

Note: “Condo” for purposes of this article includes coops, townhouses, and lofts, while “house” is a single-family residence (SFR). 

The myth of the condo costing more because of HOA dues should be sufficiently debunked by now. For more details, see the above-referenced

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Let me first state that I’m defending no HOA, as all HOAs are different, run by different boards, the quirky personalities that comprise those boards, and often outside management companies hired by the HOAs, with varying degrees of competence. Rather, I’m defending HOA dues, as compared to costs of owning and maintaining a single-family home.

The number one objection I receive to purchasing condos from buyers is the monthly HOA payments, as if magically these figures will be saved by owning a single-family home instead. This outlook can be incomplete and misguided. Because I sell here in the Bay Area, I’ll be comparing costs in the Bay. Mileage may vary in far-flung areas.

Note first that HOA dues tend to cover at minimum water/sewer and garbage

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It’s been over a decade since the City of Oakland saw even one high-rise built within the city’s downtown core which overlooks neighboring San Francisco.

With the huge growth of Oakland over the past few years, it’s no surprise to find that there’s not one, not two, but now eight planned high-rises to be constructed in, or near, the city’s downtown core.

That’s a total of 2,000 units planned for Oakland.

There’s no doubt that the area is growing at a rapid pace as near-downtown neighborhoods like Jack London Square and Lake Merritt are already starting to see a wave of San Francisco expats making the move from renting to owning a home in these booming neighborhoods.

So what does Oakland have coming down the pipe for high-rise developments?

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Located in the heart of Adam's Point. A rare Tri-level 3-bed, 2.5 bath condo (really feels like a house). Heavily updated throughout, gas stove, hardwood floors. Bedroom on each level. 2 decks and secluded backyard. Wired for sound throughout. Great Views! 4 parking spaces! HOA has earthquake insurance.
1,356 Views, 1 Comments.

high-rises fireworks

Written by Brian Enright

Millions of Americans love watching fireworks on the 4th and New Years Eve.  In fact we like them so much that we pile in the car, sit in the heat for hours to get a good spot and then suffer the traffic to get back home.  What if you could just step out onto your terrace for the best view?  Then when it's over and everyone else has to schlep back to their car you just step inside for another glass of wine.  If that sounds like a good way to enjoy the show then take a look at the list below.  We asked each Highrises.com partner agent and high-rise specialist which buildings have the best fireworks views.   Consider a condo in these buildings if you like to entertain on holidays.  OR find a friend who lives in one of them...

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Are you thinking about putting your condo on one of the many vacation rental sites like AirBNB but not certain if your HOA allows it?  Here are some steps to help you navigate the process of renting out your condo for a short term vacation rental and avoiding personal liability.Airbnb Logo

CITY RESTRICTIONS

The first step is to look at the laws that your city has regarding short term rentals.  Many cities have restrictions on short term rentals (typically less than 30 days) that if not followed can lead you to penalties and fines.  You can easily check to see what your regulations are by doing a Google search with your city name and the key words “short-term rental regulation”.  There have been hotel and zoning laws enacted by your city far before the AirBNB

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The USUThis is one of our new favorite things!  The USU was created for urban dwellers, and is especially useful for high-rise residents as it provides much-needed storage space right in your parking space.  USU launched in Austin, TX, where they have hundreds of units in buildings throughout the city.  Because of the demand USU has expanded and can now ship and set up their storage units throughout the United States.  If you could use about 60 cubic feet of extra storage give them a call at 512-981-5735 or visit the USU website.  They even provide "white glove" delivery and set up right in your parking space.  Click here to see their brochure.

 

USU with CarUSU with content

 Loaded up USU

www.TheUSU.com

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We have great news in the United States real estate market today.  Last month, in November, foreclosures are down 37% when compared with one year ago’s market in November 2012.  This exciting data released from RealtyTrac showed that in just one month (October 3013-November 2013) the number of foreclosures are down 15% to a total of 113,454 homes reporting foreclosures in November 2013.  This brings the number of foreclosures the lowest they have been since August 2006.  The foreclosures include bank repossessions, scheduled auctions and notices for default.  

According to the US Census, privately owned housing building permits are up 13.9% in October 2013 when compared with the years previous permits in October 2012.  Also, in the third quarter prices

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Are you wondering if now is a good time to buy a home?

With the recent history of the housing market dive, many waiting to buy a house have hesitancy in buying a new home.  The housing market is making (or some would say has made) a comeback all across the United States in the last year.  Foreclosures are down and inventory is decreasing in cities, particularly in hip urban communities where multifamily housing is available for a variety of needs.  High-rise condos are in demand nationwide.    

Hot Markets in Real Estate

Nationwide home values increased 12.3 percent in the second quarter this year compared to the second quarter increase in 2012.

Home values jump up in 2013 YOY!

Atlanta 38.9 percent

Las Vegas 31.4 percent

Los Angeles

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