Bay Area Real Estate stats and numbers can be interpreted any number of ways.  As a Buyer or Seller,  geo- microtargeting is key.  Looking closely at the most recent sales in the specific neighborhood is the best way to determine the value of a home.

Buyers gain confidence determining “value” AFTER finding a home you can picture as theirs……. but don’t buy.   Once you learn what the new owners paid for it you’ll be ready to purchase your “dream home” at market value. 

ACTUAL 

In Oakland/Piedmont fewer homes are sold this year than last, but listings are down so inventory levels haven’t changed significantly in desirable neighborhoods.

In Rockridge, Crocker Highlands, Montclair, Oakmore & Temescal  well priced homes in all price ranges are getting multiple offers (and selling for over the asking price) IF the home is in great condition and priced well.  

10/4/07  Temescal, List Price $649K

3 BR/1Ba Craftsman Bungalow, 1300 sf

 Offer accepted in 8 days (>$700K)

9/15/07  Piedmont, List Price $7.8M

7 BR, 7++Ba Contemporary, 2 1/2 acres, pool & tennis courts

Offer accepted  in 7 days.

9/18/07   Upper Rockridge, List Price $1.049M

3 BR, 2 1/2 Ba, Contemporary built in 1998.  Offer accepted in 3 days!

10/5/07 Piedmont Ave Neighborhood $772K

3 BR, 2 BA Craftsman, 4100 sq ft lot sold in 8 days for $825K

Rockridge seems to be the area that attracts most first time buyers moving to the East Bay because of the variety of restaurants, shopping and the BART station just off College Ave an easy walk to the BART station. Many homes along “walk-to-BART” streets of Rockridge were built in the teens to the 30’s so there are California bungalows & Craftsman style. It’s not unusual to find a 2 BR, 1 Ba home in Rockridge with a converted garage for use as an office or studio. Natives NEVER refer to the Colllege Ave/BART area as lower Rockridge even though it is a tremendous contrast to Upper Rockridge.

Broadway Terrace is the major artery through Upper Rockridge and climbs the hills to streets lined with newer luxury homes, many with stunning views of SF and the Bay. The homes are much larger than the homes near College Ave and were built after 1992 because the 1991 Oakland fires consumed most of the homes in the area. Homes in Upper Rockridge have been built in the Mediterranean, French Provencal, Tuscany & English Tudor styles.

If Rockridge is your choice, be prepared to compete with other buyers and choose a Realtor that knows the area and is willing to spend the time to help you stay informed the moment a new home comes on the market. Just give me a call!

Piedmont

2 Br/ 1.5 Baths charming English cottage, 1700 sq ft interior space on a 3300 sq ft lot, 1 car garage in the center of Piedmont.

Rockridge

3 BR/ 1.5 Baths Craftsman 2 story home built in 1912, 1680 sq ft interior space no garage or offsteet parking, 10 minute walk to Rockridge BART on a 2220 sq ft lot.

Montclair Hills

4 BR/ 2.5 Bath 1973 Modern, level-in, terraced lot , master suite and 2 bedrooms on lower level, house 2760 lot 6018 sq ft

Crocker Highlands

4 BR /2.5 Baths 2 story Traditional built 1918 sq ft 2622, lot 5292 no garage or offstreet parking moldings, updated kitchen.

From a corporate relocation director, “……more corporate Relo’s to SF purchase a home in the East Bay because it’s the most affordable housing area in the Bay Area”. Many first time home buyers currently renting in SF discover the same. Once they cross the bridge the challenge is to figure out which neighborhood works best for them!

Oakland Neighborhoods is a map many prospective buyers find useful when first exploring the “inner” East Bay.

When I meet buyers at an Open House that want to know more about neighborhoods in Oakland & Piedmont I ask if commuting is a priority. Most are surprised & relieved to learn Rockridge isn’t the only option. There are many neighborhoods with excellent commutes to SF and other parts of the Bay Area that are more affordable.

Oakmore, Glenview & Montclair are all close to Park Blvd, which has a casual carpool stop at Park & Hampel. The transbay bus route stops on Park & has roomy seats and wifi. All three neighborhoods have a distinct flavor.

Most homes in Montclair were built in the late 40’s-60’s, Mid-century and Contemporary, hillside & woodsy, some have views.

Architectural style of homes built in Oakmore includes Mediterranean, Tudor and Mid-Century built from the 20’s through the 50’s on sidewalked streets. The Oakmore HOA includes 240 homes and was organized in the 20’s to represent the interests andneeds of Oakmore to the City of Oakland.

Glenview is considered a “walk to coffee” neighborhood because of cafe’s restaurants and retail located on Park between Wellington & Glenfield. Steets in Glenview are sprinkled with Craftsman style homes & vintage bungalows from the 1920’s and 1930’s. Many have been lovingly restored with great attention given to hardwood floors, gardens and landscaping, and updated, modern kitchens.