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Can we talk? ...here are some tips for viewing and purchasing condos and lofts in Downtown Oakland...

By
Real Estate Agent with Coldwell Banker Realty DRE# 01188453

Here are some things to keep in mind when you buy condos and lofts in California. The marketing agent in many condominiums represent the fiduciary interest of the Seller. It's important for you to have an agent which represents your interests at the negotiation phase. And this phase starts surprisingly at the first visit as the marketing agent begins qualifying you and determining your needs. I think this is one of the most important reasons you need an agent with you on the first visit. You never know if the place you see will be the eventual living space you settle upon. If you find a place you like your emotional attachment can keep you from focusing objectively on the important purchasing facts.

To maximize the use of your agent for go sees; first,  find the location you like ; conduct internet research on real estate  websites such as Realtor.com and Zillow to get comparable prices. Once you have a definite price in mind and location, contact your agent and take them with you on your first visit.

Other Tips:

1) Don't go at it alone. An  experienced agent can help you negotiate closing costs and other incentives. 
2) If the purchase price is too good to be true it may not include upgrades. 
3) Some of the better condominiums have extra services and amenities such as  24 hour concierge, fitness centers, libraries, underground parking, secured parking, fully equipped business centers.
4) Many  amenities or perks(such as free home owner fee periods) are available to those  purchasing with the preferred lenders
5) Most condos have two sets of preferred brokers: A Major  bank  lender(s) and a loan broker for people who need more flexible options.
6) Many units in a condominium sell out because of their location within  the building(your agent can help you pick out the best units)
7) Try to view the space in spite of the staging and imagine if your furniture will fit in the space. Visit the unit(s) on a second day as the lighting affects the mood and highlights certain features.

Business Partners:Cynthia Kelsaw-Sales Associate, Bach Nguyen-Broker(in rear) and  Michael Kelsaw(right) at Jack London Realty.

Comments (2)

Anonymous
Lisa
Very insightful information. I think you have hit on a very good ideal> The area of Jack London square is really a baby boomers fantasy. I like the ideal that it has all conviences at hand eg. shopping transportation and leisure.
Aug 07, 2007 12:31 PM
#1
Michael Kelsaw
Coldwell Banker Realty - Walnut Creek, CA
Realtor-Broker Associate
Thank you Lisa for visiting. You're right about Jack London Square. Jack London Square is a short distance away from the City Center Area of Oakland. I'm convinced in three years or so all of Downtown Oakland will be the hot place to be.
Aug 07, 2007 01:52 PM