Foreclosures / REOs 
There are currently 6 blog entries related to this category.
How buying an Oakland REO property really works
Thursday, October 29th, 2009 at 5:18pm. 133 Views, 0 Comments.
It would be funny if it wasn't so true!
1st Quarter housing figures are in for Bay Area home sales
Monday, April 27th, 2009 at 11:41am. 193 Views, 0 Comments.
The figures for the 1st quarter have come in with some predictable results. Housing sales are way up (almost 200% in Hayward!) with the bulk of these sales in the lower end markets. Foreclosures have been the bread and butter of this market with Short Sales and REOs bringing in buyers from all over. I've had one eager man in New Zealand who has been buying up properties in Richmond.
The low interest rates combined with the $8000 tax credit has made first-time buyers and investors dive into affordable East Bay and Oakland Real Estate. The median sales price of homes sold has dropped dramatically because of the focus on the lower end market. The median price of a Oakland home sale has dropped 70% since the same quarter last year. While many areas of Oakland…
Affordable Oakland Real Estate again -- are we near the bottom?
Sunday, March 29th, 2009 at 2:24pm. 107 Views, 0 Comments.
In just a few years Oakland, San Leandro and other East Bay homes have become affordable to many first time home buyers. The median price of Bay Area homes has continued to drop from $720,000 in the spring of 2007 to the current $295,000 median price of homes sold in Feb 2008. The majority of these homes have been REOs(bank owned) and short sale (pre- foreclosure) listings but these have also brought down the price of surrounding owner occupied homes as well. Additional changes in lending practices and the $8000 federal tax credit have also stimulated buying in many neighborhoods. Maxwell Park, Laurel, and Dimond neighborhoods have seen plenty of buyers looking to get into these areas. Some houses are selling for over $200,000 less than they were just…
Steal this Home $299,000 - Part II
Tuesday, February 24th, 2009 at 1:03pm. 88 Views, 0 Comments.
So the auction for the 'perfect' house in Berkeley had some bumps along the way. At the last minute, a termite report was produced which detailed $14,000 to $24,000 in repairs. Personally, I would never trust a report with that much leeway, especially one that came in the day before the auction. The auctioneer had previously assured me that the termite work had been cleared two years ago so this was troubling to me.
Plenty of people showed up in the rain to bid but ultimately the home didn't sell. The reserve was $525,000, which might have been fine if there was no additional work to be preformed, but that termite report was looming. The home is back on the market for $525,000 or best offer. Good luck to the sellers because they have had the hardest time…
Investors Buying in Oakland
Friday, January 23rd, 2009 at 7:59pm. 57 Views, 0 Comments.
I just read an interesting article on the state of home sales in parts of Oakland. Low priced ($200,000 and less) homes are becoming very attractive to investors. They can buy a home, rent it out, and still have positive cash flow because of the strong rental market. Many investors are coming in with all-cash offers for a smooth transaction with the bank.
The median price of a home in Oakland is now $330,000 which is roughly half of what it was only 18 months ago. What is driving homes sales up and prices down is the amount of REOs (bank-owned) and short-sales being sold. 50% of homes sales last month involved foreclosed homes, but foreclosures only represented 14% in Dec. 2007.
Banks are also starting to list their homes low and let the market…
Foreclosures in California - We're number two!
Monday, January 5th, 2009 at 7:15pm. 49 Views, 0 Comments.
I always take info from the internet with a grain of salt but here are a few figures I found.
Top 10 Worst States For Foreclosures
Top 10 Worst States For Foreclosures in 2008
1. Nevada – 1 in 61 households
2. California – 1 in 88 households
3. Florida– 1 in 95 households
4. Michigan– 1 in 102 households
5. Ohio– 1 in 107 households
6. Colorado – 1 in 109 households
7. Arizona – 1 in 112 households
8. Georgia– 1 in 142 households
9. Indiana– 1 in 196 households
10. Texas– 1 in 205 households
Top 10 States With Least Amount of Foreclosures in 2008
1. Vermont – 1 in 12,294 households
2. South Dakota – 1 in 4,693 households
3. North Dakota – 1 in 4,288 households
4. West Virginia – 1 in 3,071 households
5. Mississippi – 1 in…
My Account
Log in, to view your saved searches and add to your favorite listings.
... So You Can:
- View detailed property information
- Print detailed property flyers
- Save your searches & favorite homes
- Inquire about a private showing
- Map individual property locations
- Share your favorite homes with friends
