Market Update – Oakland 94610 – July 8, 2022
This week the median list price for Oakland, CA 94610 is $1,647,000 with the market action index hovering around 66. This is less than last month’s market action index of 77. Inventory has increased to 18.
“How’s the Market?” (rate of sales versus inventory)
The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Need to sell or buy a house? Questions? Call me today.
Ernest Villafranca, Realtor
3923 Grand Ave. Oakland CA 94610
510-418-9443
Need to sell or buy a house? Questions? Call me today.
Ernest Villafranca, Realtor
3923 Grand Ave. Oakland CA 94610
510-418-9443
Escape the fast lane and come home to this 4 bedroom, 2.5 bath sanctuary nestled amid mature, lush foliage. Bordering the Sequoyah Country Club with direct views of the greens, this luxurious home offers plentiful privacy and style. The upper-level entry boasts a spacious sitting room with stone fireplace and features 4 large bedrooms and 2 bathrooms, including a sprawling main suite with en suite bath, private fireplace, deck and spa. A beautiful open staircase accented by gorgeous greenery descends to a grand living and entertainment space with another fireplace and custom, glass wine closet, all making a spectacular statement.
Asking $1,799,000…financed, cash. Possession at close of escrow.
Need to sell or buy a house? Questions? Call me today.
Ernest Villafranca, Realtor
3923 Grand Ave. Oakland CA 94610
510-418-9443
Main House: 5 bed, 2.25 bath, 3000 SF, lot 5500 SF, built 1912
A stately home in move-in condition, architectural detail, tall ceilings and a wide entrance with a wide porch. Two sunrooms; one which could be another bedroom. Nice, private front garden. Active Fire Station next door provides quiet and secure surroundings. Solar panels. No neighbors in front. Walk to the lake, bus, shopping and minutes from Downtown San Francisco. Great for live-work. Room for a boat.
ADU: 2 bed, 1 bath, 520 SF, built 2022
Modern, laminate floors, big sliding patio doors, airy and sunny. Modern kitchen and bathroom. All the creature comforts in a small package. ADU is perfect for Airbnb at $6K a month or regular rental at $3,500 a month.
Asking Price: $1,700,00
Need to sell or buy a house? Questions? Call me today.
Ernest Villafranca, Realtor
3923 Grand Ave. Oakland 94610
510-418-9443
#oaklandrealtor #oaklandrealestateagent #probaterealestatesales #94610homes #grandlakehomes
An agent friend with another brokerage called me to ask my opinion regarding a gas odor in the house.
She said, “Ernest, an agent who was showing my listing smelled gas and called the fire department!! My Oakland listing is in contract. The buyers, who have removed ALL contingencies, are also saying there is a gas smell. I didn’t smell gas. What should I do?”
I told her:
It is important to show that you’ve made an effort to determine the source of the gas leak…if any.
Finally, ask the buyer what is it that they want? Do they want consideration in terms of money or repairs? Cancel the purchase? What? Remind them that they have removed all contingencies, but that you are willing to work with them. If you got a great offer, be generous and offer some money back. Above all, keep the deal alive.
Oakland sales have a new requirement: Sidewalk Ordinance. This requirement resulted because too many people were tripping and falling on the uneven, cracks, and holes on the sidewalks. And then, the people were suing the City.
For example, an uneven sidewalk caused caused a man to trip and fall on June 12th. The fall resulted in a trip to the Emergency Room. The man had facial contusions, and other scrapes and contusions on his shoulder, arm, hands and leg. Someone used cold patch previously to “fix” this problem but it obviously wasn’t good enough. The man said, “The sidewalk needs to be replaced by someone who knows what he is doing.”
But there is some temporary good news. As of December 1, 2020, the enforcement of the sidewalk certification requirement will be suspended for all properties that close escrow between December 1, 2020 and January 29, 2021.
Background: Effective July 9, 2019 – Before a title transfer may be completed, property owners must complete an inspection and any necessary repairs and upgrades to bring abutting sidewalks into compliance. (Oakland Municipal Code Chapter 12 Section 12.04.380).
So you don’t live in Oakland?! It may be a good idea to check the condition of the sidewalk of the property. If it’s a tripping hazard, it might be a good idea to fix it.
Need to sell or buy a house? Questions? Call me today.
I also do probate real estate sales.
Ernest Villafranca, Realtor 510-418-9443
Residential and Commercial
www.oaklandhomesales.com
Hablo Español
It has been a tough year. No question about that. But the housing market did have many bright spots.
It still hard for buyers as the housing inventory continues to be low and very competitive.
For the full article see above. (Click on the link.)
Do you need to sell or buy a house? Questions? Call me today.
Ernest Villafranca, Realtor 510-418-9443
Residential and Commercial
www.oaklandhomesales.com
Hablo Español
We’ve all been down that road before. We show up with our buyers at the property after closing escrow and the racks in the garage are gone. The Ring doorbell has been replaced with some tacky plastic “Brass” doorbell, or the mirror in the bathroom is now a cheap Home Depot replacement. We thought certain things were conveying with the property. Somethings were clearly part of the house. But we were surprised. What is personal property and what is a fixture is a debatable topic. So why get into arguments? There is a remedy; if you want that Buddha fountain in the back yard, say you want it by putting it in writing in the contract.
One time in Oakland, representing a buyer, there was an argument with the seller and listing agent over a washing machine and a dryer. We got the appliances because in was in the purchase agreement. The seller was going to take them. The listing agent and seller had missed it in the purchase agreement.
Need to sell or buy a house? Questions? Call me today.
Ernest Villafranca, Realtor 510-418-9443
Residential and Commercial
www.oaklandhomesales.com
Lic #01330018
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©2024 Better Homes and Gardens Real Estate LLC. Better Homes and Gardens Real Estate LLC. All Rights Reserved. Better Homes and Gardens®, the Better Homes and Gardens Real Estate Logo, BHGRE, Be Better and Expect Better are service marks owned by Meredith Corporation and licensed to Better Homes and Gardens Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Better Homes and Gardens Real Estate office is independently owned and operated
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