Asking for thoughts on the Skyline Circle gated community in the Oakland Hills (Sequoyah)? T

Asked by Jj, California Sun Jul 10, 2011

he homes in this area are selling for about 50% less than what they sold for 5-6 years ago. I'd like expert advice...do you think that buying a house in his area is a good investment? Do you think that home prices in this area are going to continue to drop?

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Travis Hill, Agent, Oakland, CA
Sun Jul 10, 2011
Hello my name is Travis Hill with Open Home Professionals and I just finished showing two properties located on Skyline Circle (8230 & 8240) to clients. Both of these properties are in good condition and priced to sale. Would you like to see either of these properties.

I would like to set up a customized search profile for you on my MLS database. I need to know the following criteria in order to set up your profile. What is your price range, cities of interest, and how many bedrooms and bathrooms do you need?

I appreciate your business and look forward to servicing your real estate needs. Please call me directly at 510-367-5411 regarding questions.

Sincerely,

Travis Hill/Broker
Open Home Professionals, Inc.
Direct: 510-367-5411
E-Fax: 510-336-6657
http://www.openhomeprofessionals.com
0 votes
Ellen Lynch, Agent, Berkeley, CA
Sun Jul 10, 2011
Hi Jj,

Skyline C took a big hit and it is a little surprising if you ask me. I sold a house there a little over a year ago- a short sale (probate as well). I got to meet many of the neighbors and the buyers who really love that enclave. I think there is great value there, it is safe, beautiful, peaceful and the residents love it. When there was one break in, the community voted to put that security gate up. There are four ex-Police Officers living on the Circle, and all I can say is this: People do love it there and I believe this is a good investment if you like the community. These were new homes, built in the late 90s and selling for top dollar at the time. They have really taken a big hit and the few foreclosures and short sales took a big toll. One of the people who wanted to buy the listing I had lives there. . He believed in the community so much he wanted this second home as an investment and rental home! I would personally be surprised to see prices drop much more there.
0 votes
Barbara Wils…, Agent, Danville, CA
Sun Jul 10, 2011
Boy, that is the question of the time. Buy a home because you want your own place, you want the mortgage deduction, and you would enjoy the area, the lifestyle, and the commute is one you can deal with. Don't buy because you think you can use your home as a piggy bank. It is one asset among many with which you should diversify your financial investments. So whether they drop a bit more, or not, if you are planning on staying longer than 3-5 years, you should not be that concerned about potential price changes.

Many homes are selling for between 35% and 50% of what they sold for at the peak, and in fact, most. I have heard positive and negative things about those homes. Some people in the Oakland/Piedmont areas don't like them because they are "cookie cutter" homes, and lack the custom feel of many homes in the hills. But the other half of the population like them because they are newer, many have fantastic views, more modern floorplans, and of course, are really conveniently located.
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