Three pretty East Bay homes under $1M—and one made the cover of Sunset Magazine in 1941 ByAnna Marie Erwerton March 20, 2017 at 4:03 AM IMAGE8OF75 Kales kitchen. EBRD / MARVIN GARDENS EAST BAY From December of 2016 to March 8 of this year, Oakland’s median sales price for all homes was $555,000; in Berkeley for the same time, it was $977,000. But this figure includes everything from one-bedrooms to four-bedrooms or more, in everything from move-in condition to dilapidated tear-downs. Can a family truly buy a decent size, attractive home in Oakland for under a million dollars? In a word, yes. Or: maybe. Here are three nice examples listed now, two in Oakland and one in Berkeley (all pictured in the gallery above). Of course, we must qualify this sunny news with the caveat that well over half of both city’s listed homes are selling for over-asking. Custom made retro in Oakland At $725,000,2666 Camino Lenadaseems like a bargain. It’s unique cabin-like interior is the result of custom, “handcrafted 1930s” design that won it the attention– and cover– of Sunset Magazine in 1941. With vaulted ceilings, knotty pine walls, oak floors, two fireplaces and wrap around decks, not to mention a generous and serenely sylvan lot. Keep in mind though:Estately figures say 88 percent of nearby homeshave sold for anywhere from $140,000 to $445,000 over asking. Also in the under-a-million club This Rockridge Craftsman at5505 Kales. lists for $989,000 in an Oakland neighborhood where 84 percent of similar homes are selling for over asking. At 1,245 square feet, the 1911 home has two bedrooms, one bath, a big backyard and lots of charm. This very sweet 1947 Berkeley home at174 Fairlawnis close to Tilden Park. It’s 1,301-square-feet of mid-century modern design, and offers three bedrooms, one-and-a-half baths and an art studio in the backyard for $849,000. Still, 89 percent of comparable homes are selling over asking in this neighborhood. On the Block can’t really afford any of these homes, but is still heartened to find pretty properties listed at under one million dollars in Berkeley and Oakland. We’re having a hard time picking a favorite from these three examples… readers, which one gets your vote? Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert http://blog.sfgate.com/ontheblock/2...over-of-sunset-magazine-in-1941/#photo-789277
You gotta love how we're going full circle from granite countertops and stainless steel to "retro 1930s". Think about how insane this is, flippers ripping out old school stuff to replace with modern McMansion nonsense and then trends changing such that they're tearing out the granite and stainless steel to go *all the way back* to the old school look. I mean my general preference is the older/simpler/non-douchey look but I find the irony of the full circle trend-based thing to be funny and yet ultimately a waste of money for everyone but the flippers. The entire industry isn't about actually selling a home anyway - it's about selling the idea of being a homeowner. All individuals involved prey on the centerpiece of that "American Dream" idealism and gladly take that $$$ to the bank.
Ya know.... when you're talking about a $900K, 1200 sqf house.... the costs of switching out counter-tops and appliances.... is so negligible its like talking about the bid/ask spread on YM. I cannot believe that trap house on Kales Ave can be sold for.... (and HAS sold for!).... almost a million dollars. That pretty much gives one some leeway in paint color and counter-tops. jmho
Well my point was really about the fact that they're not even selling houses anymore - they're selling "the dream" aka the American one. In reality the real middle class can't afford any of this shit, this is dual income smug tech worker American dream type stuff and they'll gladly pay just to have a slice of that dream. None of this stuff is intrinsically $1M+ by any means whatsoever, but you know how markets work. Once the tech economy craps itself again (or any number of other economic issues rear their head) we'll start to see reversion to the mean again.