For the seventh time in the past eight months, the San Francisco metro area ranked as the nation’s hottest real estate market in February, with other Golden State cities also experiencing high demand amid limited supply conditions.
Oakland is seeing a lot of fast growth, new businesses – like Uber – and it’s changing fast. In 2016, people will continue to cross the bridge hoping to find an affordable place to live, driving up home values in Oakland neighborhoods.
Oakland is a better place to invest in real estate than San Francisco for single-family rental property because of a higher return on investment and lower pricing, according to data from real estate firm HomeUnion.
Allowable Annual Rent Increase The annual CPI increase rate effective July 1, 2015 through June 30, 2016 is 1.7%, and cannot take effect earlier than July 1, 2015. Tenants can only be given one increase in any 12-month period, and the rent increase cannot take effect earlier than the tenant’s anniversary date (i.e., at least […]
Real estate contingencies typically fall under three major categories: appraisal, home inspection and mortgage approval. Think of these contingencies as a buyer’s and seller’s safety net. If a home does not appraise at a certain value, if an inspection reveals a major problem, or if the buyer cannot obtain adequate financing, the parties can back out of the contract without penalty.
Before selling, building or installing a new water meter an Oakland homeowner will need certification that their sewer lateral (PSL) is in good condition. Certificates are good for twenty (20) years if the lateral is new.
If the lateral was only repaired or passed the city’s inspection with no repairs needed, the certificate is valid for seven (7) years.
A median two-bedroom apartment in San Francisco now rents at $5,000 a month, while Oakland has become an increasingly attractive destination for buyers, renters, startups and established corporations
Construction has started on a 25-unit housing project in Oakland’s Uptown neighborhood less than a block away from Uber’s future headquarters, more evidence that a wave of new market-rate residential development is coming to the city.
Before Uber snapped up the Sears building several other tech companies vied for it, and recently, Oakland has welcomed firms like Lennar Multifamily, a homebuilder, and The Worker’s Compensation Insurance Rating Bureau of California. Vacancy rates downtown will soon dip below 6%, home prices are skyrocketing, and the city has grown by 16,000 since 2010.