Thursday, November 12, 2009

East Bay Real Estate Market Update: North Oakland Homes, One of the 10 hottest Zipcodes in the US

It appears from this chart that the bottom of the market in this zip code happened last February.  The green column represents the List Price and the red column represents what the property actually sold for.  What's going on? This area is seen to be an afordable one and a good entry point for first time buyers.  its proximity to both Berkeley and Emeryville and developments like the Dogtown area make it both attractive and affordable.  Developers and flippers have found distressed proerties in this area and are fixing them up and turning them over.  They price a bit low and watch the bidding take off. My opinion is that this growth is not sustainable and will tend to moderate a bit. But this area is undergoing rapid transformation and prices are still affordable.  This area, in my opinion, is a good one for first time buers to explore.

Please visit my website for morereal estate information related to Berkeley, Oakland, Emeryville, Albany, El Cerrito and other parts of the East Bay.  Please feel free to call me at 510-368-2854 or email for information , home valuation or other real estate resources.

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