I was running comps today as I needed to reduce the price of my East Oakland listing. It has been on the market a few months with nary a peep from any of my colleagues. Interestingly enough, when I checked the Oakland crime statistics, this address had less crime than other recent sales and listings (of mine) in North Oakland, West Oakland and neighborhoods around 30th, Market and MLK. Yet some guy delayed me at my Open House for an hour so he could come by to see it and he got scared off by a memorial down the street. According to a neighbor boy, some kid was in a car accident-NOT a gang-related incident (according to my "source").
People judge; it's sad. These nice young men hanging out at the corner even helped me put my signs away. Or maybe I am naïve?
When I was young, we hung out in our neighborhood and no one thought much of it. (But then we didn't have music blaring or pants that showed our cracks. J ) I am not sure of the differences between now and when I was young, I just know that no one likes to see a group of teenagers hanging out on their street corner.
As usual, I digress. As I checking out the comparable sales, pending and active listings near 1031 89th , I was surprised to notice that the median price of all of these types of listings had dropped below $90,000. Recent sales were closer to $80,000. I saw cute houses-one even had a white picket fence-in the $50-60,000 price range. I was flabbergasted! Especially when I saw a pending sale that had a list price of $24,900. Yes, it was an REO and was seriously fire-damaged, but the lot and foundation are worth more than this!!!!
It is very sad that people re losing their homes and neighborhoods are losing homeowners. I don't have a solution; this is yet another lament. I am merely saddened that my seller has fierce competition to sell what was supposed to be a "gift" from the elderly aunt for whom she cared for many years. This bequest has become a burden.
It is on lock-box and it has some redeeming qualities. Go show and sell-PLEASE!!! See how cute it is:
;)
;)
Rebecca, I recently went to the Oakland Association of Realtors Monday Morning Meeting for the first time (I've been an affiliate member for a while, but this was my first meeting...) and was similarly shocked to find out that there are a lot of listings under $100K, but under $25K - WOW... I live and stage in Oakland but this market was completely off my radar. Not surprizingly they don't generally stage... ;-) but, still I am shocked...
I am also with you on the boys on the corner... I prefer to stay naive, expect the best and not be afraid to talk to young people, not prejudge them by their clothes - sometimes that naivete brings me great experiences with great people... and so far no bad results...