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Home Buying in 94501 : Real Estate Advice

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  • Local Info6
  • Home Buying17
  • Home Selling6
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Activity 15
Thu Aug 29, 2013
Pacita Dimacali answered:
From time to time, there will be properties sold at Woodstock Cooperative in Alameda. This property is one of them. There's another one for sale on 1813 rd St listed for $309,500 (NOT $64,935), although offers were due Aug 27.

Please note that because this is a cooperative, there are certain restrictions
Must be Owner occupied only
Buyer must be approved by HOA
Buyers should only use NCB for co-op financing 1-866-622-6446 x 3425.

I don't know where you saw a price of $64,935 --- but you can't find anything to buy at that price in Alameda where as of this writing, the least expensive property, 1 BR/1 BA condo is listed for sale at $239,900.
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Mon Dec 17, 2012
The Medford Team answered:
Good answers below - I would also reiterate that even if a unit WAS on the market, we cannot provide valuations in this venue. Hook up with a good Realtor, have them assist you with searches and/or CMAs (Comparative Market Analysis). It’s the absolute best way to get pertinent information. ... more
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Fri Sep 7, 2012
John Juarez answered:
Either the house was purchased by a third party buyer as an investment or it was purchased by the bank to protect their loan. In either event, the price is not relevant to you since you will not be able to buy it for that price. ... more
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Tue Jun 19, 2012
Fl answered:
Latenighter,
I am not only real estate investor friendly, investors are my specialty.
I have been an investor myself for 17 years, covering the whole Bay Area from Alameda County to Sonoma County. There are a lot more criteria in shopping for investment than for your own home, due to the business aspect, financing aspect and landlordding aspect. I am an RE sales agent with all that investors' experience. I live in Alameda but I cover the whole Bay Area.

Fran Lai,
Century 21 Mission-Bishop
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Fri Feb 11, 2011
Jose Cerda-Zein answered:
Good afternoon Joan. You can give me a call directly at 510.523.5673. We can set up a consultation to get you into what you want. I look forward to talking to you soon.
0 votes 4 answers Share Flag
Mon Aug 16, 2010
Brian LeBars answered:
Hi Roger...

You are a popular guy tonight. I work with an Alameda native agent. It is a unique area that takes a personal touch. If you would like a referral please let me know. The Island is unique. ... more
0 votes 21 answers Share Flag
Mon Aug 16, 2010
Kirk Knight answered:
Eb,
If you were my client I could attempt to quantify your question and reduce it to a risk algorithm, but at the end of the analysis it's an emotional decision for you. "Can I sleep at night as a result of this decision?," is how a very successful real estate investor described his final gut check to me.

CUT TO THE CHASE:
In all candor, I suggest that your most logical answer is to keep renting locally and make an investment elsewhere. Then you are avoiding the uncertainty of a local purchase.

However, you may be shifting the uncertainty to a different investment of different location with a different set of uncertainties. It's why securities investors diversify their investments, why venture capitalists put 10-20 start ups into a portfolio, why we were told as children not to put all our eggs into one basket.

FULL DISCLOSURE: I make most of my living on the commissions from buying an selling properties, and some of my income on development, so what I just suggested doesn't make me a penny, but if you were my client I would have a fiduciary responsibility to help you understand and evaluate your choices. At the end of the day, you have to make your own decision, but at least you can sleep with it.

I'd appreciate the opportunity to help you reach that decision
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0 votes 17 answers Share Flag
Sat Jun 12, 2010
Salena answered:
Thanks to all of you. My post was a result of agent believing that there was no contradiction. I contacted the RESPA division of HUD, who responded that what has occurred is a clear violation and illegal. They have requested that I file a complaint against my broker. I feel that my agent is not working in my best interests. In the least I will ask to resolve the error rather than sue the seller. No one wants that. The request by the seller for a short sale does not mean that the seller does not have the availability to contribute to some of fees. Now I know bottom line whomever picks title pays. ... more
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Sun Jan 10, 2010
Tara-Nicholle Nelson answered:
It's a violation to the lender on the existing mortgage, not the new lender, to my knowledge.
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Tue Jan 5, 2010
Tara-Nicholle Nelson answered:
For your dollar, Alameda, Albany, Berkeley and Lamorinda (Lafayette/Orinda/Moraga) have the best public schools, all the way from K-12, within a reasonable commute from your husband9;s office. I also have clients who live and send their kids to certain El Cerrito schools, and are very happy with them. A couple of Oakland neighborhoods have decent K-6 schools, but they are pricier neighborhoods, and most homeowners prefer to go private by the time their kids get to high school. Similarly, Kensington has fabulous schools, but is higher priced, generally speaking.

If you're willing to shell out for private schools, though, the East Bay is your oyster. I live in Oakland and have sent my kids to several private and charter schools, and feel that there are some fabulous options here for private education.
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Sat Oct 24, 2009
Pacita Dimacali answered:
Michelle

Wherever you go, at least one of you will be challenged by a commute. Wouldn't it be wonderful if you can telecommute a few days during the week?

Castro Valley and Fremont are good considerations in terms of commuting distance and school rankings.

And here's a link to Alameda County's Academic Performance Index for your reference.
http://api.cde.ca.gov/AcntRpt2009/2008Base_Co.aspx?cSelect=01,Alameda

Good luck!
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Fri Apr 10, 2009
Troystaten answered:
You can go to the county recorders office but the easiest way is to ask a Realtor to help you. If you would like I can help you with this. It would help to have your address so I can narrow the search for what sold in your area. As Pacita mentioned if your doing this to lower your property tax that is currently due you don't have much time. Feel free to contact me.

Thanks

Troy
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Tue Mar 3, 2009
Jean Powers answered:
Buyers also need to becareful regarding multiple offers. I have been a broker for 25 years (raised here) and felt that during the time when properties were skyrocketing it was because buyers were competing and scrambling to buy now out of fear of not getting into a home.. Even in that market I educated my buyers on the pitfalls of competing and that it is possible to pay too much for the property even though it may appraise for the higher price. The Woodstock development has always been good for buyers because of it being a coop which kept the values lower than other townhouses and condos in Alameda. This development is still valued well the only issue is that a buyer must use only one particular lender or pay cash. The plus is that there is a lender for this deveopment now as yrars ago the only way to purchase in Woodstock was all cash or seller carryback. Multiple offers are great for sellers. ... more
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Fri Jun 27, 2008
Pacita Dimacali answered:
If your question pertains to the city of Alameda, and not the county of Alameda, the comparable search should yield some results in the vicinity. But if you're looking only in very specific city blocks, then it's possible that you won't find comps.

Do note though, that a 48% drop in price in one year is unrealistic in this city where property values are holding firm. Granted that there may have been some reduction in market values today compared to 2-3 years ago, we don't and haven't seen such a drastic drop that you're speaking of. What we are seeing is that the prices seem to be reverting to 2005-6 levels. And... it's all relative as to where the properties are located.

If you are thinking of buying in Alameda, or if you are in contract on a property in Alameda, do try to find an appraiser who is intimately familiar with this town. One of the challenges we faced with out-of-town appraisers is that they sometimes use comps from one end of the city to the other. In Alameda, as small as this island is, homes on the east end are generally priced higher than on the west end.

If you're moving to Alameda soon, welcome!
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Tue Jul 24, 2007
Michael Christensen Las Vegas Real EstateAgent answered:
I always shoot for 20% under asking price. It's a good place to start. You can also send a copy of the homes for sale in the area to justify your offer. In this market, you never know what the bank will do. I have seen some move fast and some turn down everything. ... more
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