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Oakland : Real Estate Advice

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  • Home Buying345
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Activity 588
Thu Mar 28, 2013
Michael Bardales answered:
The food. Oakland has the fastest growing foodie spot. The food places are usually next to a local lounge where you can pop in and have a few good drinks with local music.

Old Oakland has been that hot spot plus its a few blocks from 12th street bart station. If you go up more - You're in Uptown Oakland - very close to another Bart Station. Another great food and lounge area. I can go on...

I usually tweet about these type of places in Oakland - @mrbardales . Also, I am from San Francisco and now live in Oakland. Its not what they think!
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Thu Mar 28, 2013
Michael Bardales answered:
If you're buying -
Most lenders are allowing up to a 55% back end debt to income ratio. Which means - Lenders take you're monthly expenses and divide it into your gross monthly income. The loan program will determine what maximum debt to income ratio you're allowed. It also factors down payment closing cost, etc. I recommend getting pre-approved for that solid answer. Sounds complicated but is very simple process.

If you're renting - Use the same basic concept. From there, we can work backwards to determine your max monthly amount versus whats is available in the market for that price range.

I can help you in both area - if you're renting or buying. feel free to contact me.
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Thu Mar 28, 2013
Simon Campbell answered:
The City of Oakland does allow rent increases above and beyond the CPI allowance. I checked on their site and this is what it says:

"The justifications that will establish rental increases above the current CPI limits are:

capital improvement costs
increased operating and maintenance costs
allowable annual rent increases not given to tenants in prior years ("banking")
mortgage costs
repair costs for casualty losses not covered by insurance
fair rate of return on investment for owners (as provided for under California law)"

http://www2.oaklandnet.com/Government/o/hcd/o/RentAdjustment/index.htm
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Mon Jun 17, 2013
Pacita Dimacali answered:
Michael

Do you have a question?

Or are you answering someone's question?

Or are you getting ready to post a blog?
0 votes 4 answers Share Flag
Wed Jul 5, 2017
Pacita Dimacali answered:
Depends on the property and depends on your lease. If you're renting a house, your lease may call for you to keep up the maintenance including the yard. If there are repairs such as plumbing, electrical, etc. by all means call the landlord who would surely want to know and do some preventive maintenance instead of letting the problem go unresolved.

But for a simple light bulb change? It would seem to me that the tenant should be able to make this change without involving the landlord.

However, if the property has high ceilings, or if the lights are outside and will involve a lot more work and equipment, then the landlord should make arrangements to replace them for safety reasons.

Here's where some common sense and simple kindness and consideration would go a long way in good tenant/landlord relationships
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Fri Mar 22, 2013
Pacita Dimacali answered:
Since more properties that banks foreclose on are eventually assigned to realtors who list them on the MLS, most any resourceful realtor will find them for their buyers. The best way is to align yourself with a realtor who is knowledgeable, strategic and resourceful.

But first, if you haven't gotten yourself preapproved for a loan, that's the first thing you should do to be fully prepared on what kind of loan you can get, and what you're comfortable paying for a property.

If you are interested in bidding in an auction, note that foreclosures don't always translate to good deals. There could be other liens on the property that are not known or disclosed at the time. Or there may be extensive/hidden damage. If you have an offer accepted, then you can get your own inspections to determine costs. There are a lot of risks involved. Here's a video by Foreclosure Radar that explains the process https://www.youtube.com/watch?v=1CanJbhGdJM

By the way, Foreclosure Radar is an excellent resource for identifying properties in distress (delinquent, about to be foreclosed, etc)

How may I help?
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0 votes 8 answers Share Flag
Thu Mar 21, 2013
Pacita Dimacali answered:
There's a 2 BR/2 BA unit for rent now for $2550. Depending on the size of the 1 BR/1 BA, what's included in the rent (washer/dryer?) and which way it faces, it can probably rent anywhere from $1100 - 1600.

There's a certain downtown vibe in that area. And the fact that it's literally just a couple of blocks away from BART is a big plus.
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Sun Mar 17, 2013
Pacita Dimacali answered:
If you will scroll through the ad, you'll find that the rental agent is Shon Slaughter, (510) 516-0609

So rather than him calling you (as surely, other folks are interested in this rental) you should contact him directly. You will likely be asked to complete a rental application.

Good luck
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Sun Mar 17, 2013
Tim Moore answered:
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Sat Mar 16, 2013
The Medford Team answered:
Overall, Realtors are prohibited by law from telling you whether or not any specific neighborhood is safe. It’s called “steering” and we are prohibited by our code of ethics and federal law from providing such information. Here are a couple posts that explain more:

NO STEERING ALLOWED: 3 Important Facts To Know As A Buyer
http://www.trulia.com/blog/carl_medford/2010/03/no_steering_allowed_3_important_facts_to_know_as_a_buyer

Don’t Get ‘Steered’ in the Wrong Direction
http://sanleandrotimes.com/index.php?option=com_content&view=article&id=3462:dont-get-steered-in-the-wrong-direction-&catid=7:examples&Itemid=121

However, we CAN tell you where to go to get information. In your case, for crime statistics, go to the following sites:

http://www.neighborhoodscout.com/ca/oakland/crime/
https://www.crimereports.com
http://www.spotcrime.com
http://www.nixle.com/
http://www.everyblock.com/
http://www.localcrimenews.com
http://www.mylocalcrime.com
http://www.crimemapping.com
http://www.meganslaw.ca.gov
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Thu Mar 14, 2013
Richard Matus answered:
You'll get the best terms and rates if you live in one of the units. Investor loans will have a little higher rates and require more down than a 4 unit building that is owner occupied. If you don't own a home and would like to get an investment property, this is the best way to do it. You'll get the best loan that you can lock in for 30 years at great rates, it makes a lot of sense.

I hope this helps.
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Mon Apr 13, 2015
Pacita Dimacali answered:
To complement mydeco, try the app called Magic Plan. This is available on iphone/ipad. https://itunes.apple.com/us/app/magicplan/id427424432?mt=8

By taking pictures from various points in a room, one can create a floor plan. The you can utilize the floor plan to arrange furnishings, etc. ... more
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Fri Feb 22, 2013
Gina Odom answered:
Hi soon to be landlord,

Below are a few links that should help you answer some questions regarding tenant-law. If you want to use a screening company to help you determine tenant credibility then I suggest using Saferent or a similar company. Or, if you want to save some money and screen yourself then you can just ask the potential tenant to submit a current credit report plus credit score with their application. Be careful and make sure you do your due diligence about being a landlord in Oakland. Tenants are typically favored and you want to make sure you do everything by book! If you don't want to take on the liability I would hire a reputable property management company. Good luck!

http://www.dca.ca.gov/publications/landlordbook/catenant.pdf

http://www2.oaklandnet.com/Government/o/hcd/a/FAQ/index.htm
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Mon Feb 18, 2013
Debra (Debbie) Rose answered:
Clara, this is one of the typical rental scams out there - you were wise to question it.
Report the email to trulia - I believe there is a report button for that purpose.

Be wary of any far fetched stories like this one. The scammers always claim to be out of the area with elaborate stories.....next you would be asked to wire money for the keys. They come up with all kinds of stories as to why you can't see the place in person..........the biggest tip off that this is a scam is that the rental amount is usually way too low - too good to be true...because it isn't true!


Don't be lured in because you see real photos...they often cut and paste photos from real listings.
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Wed Feb 1, 2017
Antoine Pirson answered:
Before you decide to rent out your house, make sure you understand the financial and tax consequences of doing so, now and in the future. You better talk with you CPA first. Most owner are surprised when I tell them the details. Once you understand that, become a member of EBRAH, in Oakland., They have all the forms, and the procedures to follow to finding a tenant, screening, tenant laws, etc. ... more
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Sun Feb 17, 2013
Pacita Dimacali answered:
Best way to find out, besides going to the local police department, is to check sites like crimespotting.org

And since you're on Trulia, they also have a site http://www.trulia.com/crime/Oakland,CA/

Compare these stats with what you see in San Francisco
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Tue Feb 12, 2013
p888chang asked:
Tue Feb 12, 2013
Joy Anna Mercedes answered:
I have a great contractor you can talk to. 510-502-7811

Sounds like a great idea. Do these rooms have closets or windows?
0 votes 6 answers Share Flag
Sat Feb 9, 2013
Tracy Butler answered:
Hi Beatrice, 6890 Gunn Drive in Oakland is open this Sunday, 1-5pm. List price is $1,185,000, 4 bedroom, 2.5 bath, 3115 sq. ft. If you'd like I can send you the listing of Sunday Opens that is provided to me each week, I'd just need your email to send it. Either way, good luck, the Montclair/Oakland Hills area is a great place to live!
-Tracy Butler
tracy@butlerhomesales.com
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Wed Jul 3, 2013
Katie Daire asked:
The parking lot fills up so early, and I'm not expecting my number on the permit wait list to come up anytime in the next 10 years. Any tips on where to park between 7:30-10AM near Roc...
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