Oakland Oozing With Possibilities

p1030611.jpg

When I was 16 years old I worked at Emporium-Capwell's in Downtown Oakland.  This department store was on Broadway in what is now Sears.  As I was growing up I remember Oakland and its thriving retail business.  We had I. Magnin's,  Joseph Magnin's, Liberty House, Little Daisy and more.

These businesses are gone, but the beautiful buildings remain.  I yearn for healthy downtown.  I would love Oakland to model after Pasadena, California.  Their shops, department stores and restaurants are on a main street, not in a mall.

p1030646.jpg
p1030648.jpg
p1030635.jpg

Look at the buildings, you can't deny Oakland's beauty.

Grand Opening of New Oakland Winery!

Stage Left Cellars Opening and Wine Tasting

This Saturday, April 4th,  from 11:00- 5:00 pm Owners Melinda and Rich Doty of Left Stage Cellars will be having their grand opening in their new space at 2102 Dennison St., in Oakland. (Click here for a map) Come see this new Oakland business and see 13 original works of art by Oakland artist, Scott Courtenay-Smith.  (Click here for Scott's website)  It's at the 23rd Avenue exit from 880 South, in a cool little industrial park.   Support Oaklanders who are making Oakland a great place to work, live and thrive!

21370.jpg
10284.jpg
Source: http://www.theoaklandberkeleyjournal.com/w...

Glenview Bungalow That Caught My Fancy

4039 Linwood Avenue in the Glenview district of Oakland caught my fancy last week on Broker's Tour.  (This home is currently listed with Leslie Easterday of Pacific Union. Listed at $695,000)  When you are purchasing a home you either want one of two things: You want the purchase price to include finish work that suits your style and sensibility or you want the purchase price to reflect that it is in need a cosmetic face lift to suit your needs.

This house on Linwood was pristine, great light, warm hardwoods and original details such as the original hearth tile and built-in shelving.  The lot is a small, but the raised garden beds really appealed the gardener in me.  Additionally the Glenview district is a very walkable neighborhood with great restaurants.  A Cote, (The very popular Rockridge eatery) is in the process of opening a sister restaurant in the Glenview on Park Blvd.  This restaurant will feature Pan American food highlighting food from Argentina, Cuba and Mexico.

Dreamy 1941 Laurel Heights (Oakland) Traditional

4145 Eastlake Avenue is my favorite house from Monday's Broker's Tour.  (Broker's Tour is a scheduled tour of homes open to Realtors.)  Eastlake Avenue located on the border of Laurel Heights and Redwood Heights is one of my favorite streets. This street features views, a cul de sac and is a tucked away street off of the beaten path.  This house has random plank hardwood floors in the living room, views, rounded corners, (a feature seen in the 1930's and 1940's) an eat-in kitchen and a large downstairs which includes a living area, an extra bedroom, kitchen and bathroom.  The master bedroom upstairs has a small balcony, a great place to catch a few rays of sun and glimpse Downtown Oakland and the Bay. This property shows pride of ownership,  is super clean, appears to be well maintained and is move-in ready.  Homes are rarely for sale on this street making this a property to see. This house is currently listed with Vicky Faulk of Coldwell Banker for $725,000, Thanks Vicky!

p1030482.jpg
p10304931.jpg
p10304842.jpg

Get Property For $5000 in Oakland? What You Should Know About Auctions.

427780255_e9d399c3401.jpg

I am hearing from many people that they are itching to buy a house via auction.  One friend told me that they were going to buy a house in Oakland this year for $5000.  He said that he did not care about the condition of the house or the neighborhood.  I understand, buying a piece of property for 5 grand is enticing.  If houses were available to purchase for $5000, I would buy a West Oakland Victorian and renovate it back to its turn of the century glory.    Here are a few things you should know about buying property via auction.

There is no Department of Real Estate regulations of auctions, nor separate regulations of auctioneers who conduct real estate auctions.  If the auctioneer is selling real property the auctioneer must be a licensed broker or work with a Department of Real Estate licensed broker.

To buy a home via auction you MUST have adequate financing lined up before bidding as the purchase agreement usually does not contain a financing contingency. (a period a time in which you can back out of the contract if you can not cement financing.)

When buying a home via auction you will not be provided with any reports or disclosures regarding the property condition.  For example, the foundation could fail and the roof could be long overdue for replacement. Unfortunately an inspection contingency period will not be a part of the part of the purchase contract.  A time period in which you can back out of the deal if you are not satisfied with condition of the house.

Typically bidders who purchase homes via auction are professional investors, they are not folks looking to buy a home to owner occupy.  They are investors who know all of the potential pitfalls regarding the process When you are bidding on a foreclosure via auction you could be bidding on just the junior or second mortgage that has been foreclosed.  For example the starting bid on a home is $40,000.  You bid on this property and win the home for the $40,000 amount.  However, unbeknown to you, there could be a senior loan or mortgage attached to this property for an additional  $300,000, where you are now responsible for paying it off in full in order to actually own the home.  How horrifying would that be to think you are purchasing a fixer upper home for $40,000 and realize you are now on the hook for $340,000!

I wouldlike to hear from you!  Do you have a positive auction experience in the Bay Area?  Let me know.