Ellen Lynch

Hi,

Great time to buy as you are likely hearing. In West Oakland where you're looking, there are some great buys, mostly foreclosures. Many of them need work, so it is important that you work with an agent who can help you assess the amount of work a house needs. Foreclosures/REOs do not have inspections or disclosures about the property... so you as a buyer are on your own. It is all the more important to work with a realtor who can help you get qualified professionals in to assess the property, get legitimate inspections and prices for work needed, and act as your advocate. There is indeed a whole process, that you should go over with a realtor you are comfortable with. It is very important for you to work with a mortgage lender you are comfortable with as well..one who can access all banks and first time programs to evaluate what is best for you and your needs. A good realtor can recommend a good mortgage lender, if you don't have a good lender. May I recommend an excellant mortgage lender in Oakland, (regardless of what realtor you use): Holmgren and Associates Mortgage, Oakland: http://www.Mortgageholmgren.com/ They've been a local lender, and very involved in the community for a very long time...had no part in the mortgage meltdown or questionable loans. Total integrity. They will advocate for your best interests and even refer outside if need be, (which is rarely necessary). I often use Mari Parsnick, my favorite consultant there. My clients have loved working with her and say she has gotten fantastic loans and worked hard to get the best deal for them.

If you know the neighborhoods in west Oakland you are comfortable and familiar with, that is major.

Talk to people, get referrals, and check out any and all realtors you talk with. Ask for referrals.

I am happy to talk with you about any of this. I enjoy working with first time buyers and have lots of resources.

The best of luck in your search!


Ellen Lynch, Realtor
Keller Williams Realty, Oakland
cell:510-978-9345 - Wed Sep 24 2008, 19:11

Hi there,

Here is my input: Because you are in 94611, a highly desireable area, you would indeed do well to finish the cosmetics on your condo. Buyers expect more for their money now, and they don't want to have to do anything to a place, particularly a condo. Yes prices are falling, but 94611 has not been hit as hard as some places such as 94606, just east of the lake. Some contractors are flexible, will wait for payments..if you can possibly get this work done. Is it much more than painting? Why don't you ask some realtors to come over and give you their opinions of pricing and what you need to do to get it ready? Get different feedback and see if it is worth it to you to stretch a bit more and get the work done if you can.. Otherwise, the rental market is strong here right now and you might do well to rent it, even if you can't cover all your costs. Many folks are doing this. I would be very surprised if it made sense for you to sell your condo without finishing the work.. Feel free to contact me to talk about it. Good luck. Ellen Lynch - Sat Aug 9 2008, 20:01

Hi Gethin
Fruitvale is one of the most established, recognized neighborhoods in Oakland. Fruitvale is overall a solid area with a diverse population. There are inexpensive and expensive houses. There are good schools and not so good schools. One of the best private schools in the city is located in Fruitvale. Fruitvale boasts fantastic ethnic restaurants, a strong hispanic community, lower-Glenview/Dimond connection with numerous shopping areas. If you go close to MacArthur, you have Peets, La Farine, Farmer Joes, Longs, Gelato Ice Cream and boutique shops.. also Dimond Library, Dimond Park with wonderful outdoor (heated) swimming pool. Ignacio De La Fuente is the Council Person for this district, and you can always call the office for specifics abouy schools, crime, etc.. http://www. idelafuente.com
Good luck! Just drive around and trust yourself! I love the Fruitvale! I've sold a few houses there.. and live just a couple of miles away. - Sun Jul 13 2008, 19:51

Staging is still effective. Depending on the condition of the house, price point, location and possibly other factors, a stager should at least be brought in to advise, along with your realtor. For a fee, the stager may be able to make a few recommendations (clearing out, moving things around, adding some pieces or art work): she/he may just help you get it looking in tip top shape for sale. Overall, it is still cost effective in general to have a house staged, particularly if it is empty, unless it is a total fixer upper, even in neighborhoods where prices have been hardest and are declining further. Prospective buyers have an easier time visualizing living there if there is some nice furniture and artwork there already, (that is not too personal or too cluttered etc.). Good stagers are worth their weight in gold! - Sun Jul 13 2008, 12:39

Hi. I suggest you first check with the local building dept to see if this is even legal or "doable". Some roofs are not built for the weight of a deck. It may or may not be permittable by local zoning as well. Oakland Building Dept: 510-238-3441, ask for zoning, then building, and give them the address. They will look it up and answer your questions over the phone about viability. If you are permitted to convert the roof, then I suggest you get a licensed General Contractor to look at it. Nobody can give you a legitimate price over the phone or internet without seeing the actual structure and how it is built. Get different estimates and always referals from the Contractor.. and check up on them! Good luck. Ellen Lynch - Sun Jul 13 2008, 12:22