Bay Area Real Estate & Development Blog | Oakland, Piedmont & Cupertino - Oakland Homes

Green Day's singer puts his Oakland CA mansion on the market for $4.85 Million

Posted by Bruce Wagg on October 8th, 2009

Green Day frontman Billie Joe Armstrong put his Oakland estate on the luxury market, offering a rare look inside one of the East Bay’s more distinctive celebrity-owned homes.

The five-bedroom, Mediterranean and French Normandy-inspired residence was built for Armstrong in 1998 by architect Mark Becker. Set on more than half an acre in Oakland’s Claremont Pines area near Rockridge, the property combines dramatic Bay views, custom architecture and a fascinating connection to Oakland’s architectural history.

A Custom Oakland Home With Bay Views

The property includes sweeping views toward San Francisco Bay, a swimming pool and pool house, an open interior layout and a number of highly individual architectural details.

Among the standout…

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Vintage Oakland Film - Alaska Packer's sailing ships and the 'new' Oakland Airport

Posted by Bruce Wagg on June 2nd, 2009

This is the next part of the vintage Oakland real estate developer movie from the 1920's that documents the building of Oakland's 9th St pier and the famous Alaska Packers Fishing Fleet of sailing ships with their big masts. They also show the "new" Oakland airport which cost over a million dollars to built. The lineup of biplanes and old aircraft are great to see.

 

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My 15 minutes of Fame -- The Internet and Real Estate on NBC channel 11 at 6pm

Posted by Bruce Wagg on May 4th, 2009

I just finished filming a feature story for NBC Channel 11 with Tech and Business reporter Scott Budman about the Internet and Real Estate. It should be on tonight at 6pm during the Business segment. Hopefully I don't end up all over the editing room floor. Scott is an old friend from Oakland, an award winning journalist and father of two. You can see the video here. Click Here

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1st Quarter housing figures are in for Bay Area home sales

Posted by Bruce Wagg on April 27th, 2009

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…

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Affordable Oakland Real Estate again -- are we near the bottom?

Posted by Bruce Wagg on March 29th, 2009

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…

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Oakland Homes for Sale from $33,000 to $4,388,000

Posted by Bruce Wagg on March 19th, 2009

Oakland has always a diverse city but never more so than now. There are now three different homes in Oakland listed for $45,000 and less and 3 homes listed for more than $3.5 million. One of the Million dollar listings has breathtaking views of Oakland, San Francisco as well as the $33,000 home in the flat lands, though you might need a telescope to see it.

1504 92nd is a cute 2 bedroom 1 bath bungalow that is listed at $33,000. This same home would sell for 10 times this amount and more in many Oakland neighborhoods but as they say, ' location, location, location". In reading the MLS further, the $33,000 listing price is actually the opening bid at auction later in the month but I will keep you posted for what it actually sells for.

 

Another house on…

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Investors Buying in Oakland

Posted by Bruce Wagg on January 23rd, 2009

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…

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Foreclosures in California - We're number two!

Posted by Bruce Wagg on January 5th, 2009

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 2,501…

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The birth of my Oakland Real Estate Blog-ventures

Posted by Bruce Wagg on November 6th, 2008

First off, I realize that blogging requires a commitment to the 'art' . I am not a writer by training ;-). You have probably already figured this out in my first sentence or two. I am a poor speller and never was confortable in Mrs. Singaras' English class at Skyline (1984). But I hope that I can entertain and amuse you all with some stories and histroy about my real estate adventures. It is Nov. 2008. Obama was elected days ago and the country and the Bay Area in general are in for a lot of changes. What will this mean for Oakland and the neighborhoods, remains to be seen. But we are hopeful and because I love Oakland so much, I am not moving anywhere else, so stick with me and let's experience Oakland together.

 

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