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Oakland, CA Real Estate News

By Michael Brent
(Oakland, Fremont Appliance, Air Conditioning and Heating Rep)
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By Wai-Yew "Andrew" Lam
(Adelphi Retirement Management, Inc.)
BUSINESS EXCHANGE: If a owner of a business seeks to dispose of the business, doing so in Section 1031 exchange can result in significant tax savings.  The business owner may want to dispose of one business in one metropolitan market in order to focus on another metropolitan market.  Business types that may be eligible for 1031 exchange are; distributorships and franchises, including cable televisions, beer distributorships, restaurant franchises, gas station franchises, laundry franchises, and Professional services practices are just a few. The exchange must be broken down into individual exchanges by category of "like-kind" assets.  For example, the value of the office equipment relinquished must be matched against the value of the office equipment received.  Intangible asset are a ke...
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By Wai-Yew "Andrew" Lam
(Adelphi Retirement Management, Inc.)
REVERSE EXCHANGE: The reverse exchange is a specialized exchange arising from a situation in which an exchanger must acquire the replacement property prior to selling their relinquished property.  Since it is impossible to exchange properties when you own both properties at the same time, a reverse exchange is required if the replacement (purchase) property escrow must close before the relinquished (sale) property escrow closes. Types of Reverse Exchange Transactions Type A:            The Intermediary assigns into the purchase contract and takes title to the replacement property.  The exchanger has 180 days from close of escrow on the replacement property to sell the relinquished property in order to complete the exchange. Type B:            The Intermediary takes title to the relinqui...
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By Wai-Yew "Andrew" Lam
(Adelphi Retirement Management, Inc.)
DELAYED EXCHANGE: As an investor in real estate, you understand how important it is to preserve your wealth and assets.  If your investment property has appreciated in value or you have depreciated the property, a sale would require the payment of tax on the capital gain of up to 30% or more (combined federal and state).  However, if you were to exchange your property utilizing the benefits of IRC Section 1031, you can defer the tax on the gain, allowing reinvestment of all your equity. The 1031 Tax Deferred exchange offers great flexibility to the investor.  You may exchange one property for several others; consolidate several properties into one, eliminate or create joint property ownership, and exchange into property anywhere within the United States.  Under this Internal Revenue Cod...
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By Michael Greenslade
(Better Homes & Gardens | Mason-McDuffie Real Estate)
Okay you must buy these through me I want to represent the buyers on this one.Run, do not walk to the following website.www.cathedral-building.comFloors 7-14 are being turned into 1 unit per floor NEW YORK STYLE units.  The view Down Broadway would have to be nothing less than spectacular.  Floor 7 features windows all the way out to the gore point of the building.  Floor 8 features a roof top deck over floor 7's gore point debut.  Floor 14 features a mezzanine level and then a roof top deck on top of the entire building.This is a National Register of Historic Places landmark building.Here is a photo I took a while ago. 
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By Michael Greenslade
(Better Homes & Gardens | Mason-McDuffie Real Estate)
This weekend I was holding a home open for Aireen V. Choy in East Oakland on 108th Avenue.  From the front porch of this home you could clearly see up into the hills behind Foothill Square shopping center the Oakland Zoo.  Several times I saw the little train travel it's tracks around the zoo. It got me nostalgic about my childhood visits to the zoo.I remember on hot summer afternoons when I was a kid growing up in San Leandro's "The Broadmoor" neighborhood being able to hear some of the animals from the Oakland Zoo.On a very good day, you could hear the lions and tigers roar, but that was rare.  Just about everyday you'd be able to hear the monkey "ewww ewww ewww ewww ahhh AHHH AHHH AHHH"  It was kind of neat to hear jungle sounds from right down here on Superior Avenue.I remember goin...
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By Carla Higgins
(The Grubb Company)
Real Estate Sales Commissions ExplainedReal estate agents are paid on a commission basis. More often than not, both buyers and sellers commission are paid from the selling price of the home. Commissions are calculated from the percentage averaged from the 5-8 percent of the sold home. Some firms charge a flat rate.The reason for the difference in rates is generally tied to the type of marketing done for the home. If the rate is low, less capital will be placed into advertising the home. If the rate is higher, more marketing will generally be done. This should be worked out clearly before hand with the buyer's agent. In essence though, you will often times get what you paid for. The average rate is 6%.Explanation of Commissions By using a 6% total commission:In general, the buyer's agent...
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By Carla Higgins
(The Grubb Company)
The Home Inspection ProcessYou have secured a mortgage commitment from your Mortgage Broker, and after an exhaustive search, you have found the perfect house. The house appears to be well maintained, with manicured lawn and all the amenities you always wanted. You sign a purchase agreement and 45 days later, the closing is completed, and you have moved into your dream house.Two weeks later, after a major rainstorm, you notice that a large water stain has appeared in the master bedroom and living room. You call in the plumber to see if a leak has developed in you plumbing system. After an extensive search the plumber advises you that the plumbing system is fine, and the roof is the source of the leak.After consultation with a roofing company, you are informed that the roof is completely ...
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By Michael Greenslade
(Better Homes & Gardens | Mason-McDuffie Real Estate)
Hey historic home watchers,Here it is, as featured in the book "Storybook Style" the central castle on Picardy Drive in Oakland.  Run to your local library and look up this book and check out this building! This was the sales office for the tract and showed off the talents of architect W.w. Dixon and builder R.c. Hillen.  The living room of this unit looks and feels like a castle.Marvin Garden Real Estate is listing this property 5717 N. Picardy Drive.  It is listed for $525,ooo.oo.  The local MLS # for this listing is 40332889.Contact me if you are interested in seeing this landmark property.
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By Michael Greenslade
(Better Homes & Gardens | Mason-McDuffie Real Estate)
Opportunity knocked.I am showing 2323 Magnolia Street Unit 10 with Andres Enriquez from the San Francisco office of Prudential.This is a dramatic loft space with soaring 18 foot ceilings.  An open floor plan great for entertaining friends.  Up the steel staircase is an office area and a large bedroom.  Custom walnut cabinetry in the kitchen and bath just add to the finishing touches that are all over this unit.  1500 square feet of living spaceCall me for an appointment to see this great living space.  This property is offered at $575,ooo.oo
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By Rebecca White, Real Estate Agent - San Francisco
(Alain Pinel REALTORS)
Having half my business in the East Bay, I am a member of the Oakland Association of Realtors. Whereas I live in San Francisco, I enjoy working in parts of Oakland as well as it is more affordable for many of the first-time buyers with whom I work.As I have mentioned before, there are very few REOs (foreclosed or bank-owned properties) in San Francisco. Across the Bay, it's a different story and an excellent opportunity for investors!I'm partial to North and West Oakland near Emeryville and Berkeley. Currently there are half a dozen 2-BR detached houses for sale $350,000 or less that are foreclosures. (one is very close to my short sale listing and available for nearly $100,000 LESS!)East Oakland is a different story with more than 50 foreclosed homes available at $300,000 or less. I sa...
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By Rebecca White, Real Estate Agent - San Francisco
(Alain Pinel REALTORS)
Hello People Who Need Help, I want to share a recent success story with you. On the first of February, I listed an adorable bungalow on the Oakland/Emeryville border. Immediately I received an offer over the list price. As my clients were having a baby and I was at a convention for a few days, we decided to wait and set an offer date after I could hold two open houses. Voila! A total of three offers--all over asking. It took some time to get the short sale package together for the lender but when we did, it was amazing! I got it accepted the first go-round with NO counter-offer. Now we're waiting for the buyers' loan approval and will close in two weeks. My sellers are very happy and sent the sweetest email to me calling me a "Godsend". They were on the brink of foreclosure and I saved ...
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By Carla Higgins
(The Grubb Company)
Does Your Hard Water Need Softening?Ask yourself the following questions to see if your water may need softening. Do you have soap scum in sinks and bathtubs? Bathtub rings? Do your dishes or glass shower doors have spots? Do your foaming soaps and detergents work properly? Are your clothes dingy and yellowed by soapy residues that require an extra rinse cycle? Clogged pipes or increased water-heating costs from buildup of minerals? Have you ever had skin infections from bacteria trapped in pores underneath soap scum? If you've answered yes to any of these questions, you are likely among the 85% of people in the US that are affected by hard water. Hard water is caused by the dissolved minerals calcium, magnesium and manganese. Hard water not only causes the already mentioned issues but ...
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By Carla Higgins
(The Grubb Company)
13 Extra Costs to be Aware of Before Buying a Home"The last thing you need are unbudgeted financial obligations cropping up hours before you take possession of your new home."Whether you're looking to buy your first home, or trading up to a larger one, there are many costs - on top of the purchase price - that you must figure into your calculation of affordability. These extra fees, such as taxes and other additional costs, could surprise you with an unwanted financial nightmare on closing day if you're not informed and prepared. Some of these costs are one-time fixed payments, while others represent an ongoing monthly or yearly commitment. Not all of these costs will apply in every situation, however it's better to know about them ahead of time so you can budget properly. Remember, buy...
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By Carla Higgins
(The Grubb Company)
Surges Happen!How to Protect the Appliances in Your HomeThe power you get from the wall outlet is known as "120 volts AC power." The power companies try to keep that voltage uniform. Lightning, short-circuits, poles knocked down by cars, or some other accident can make the voltage jump to hundreds, even thousands of volts. This is what engineers call a "surge." A surge will last only a few millionths of one second (the "blink of an eye" is thousands of times longer than the typical surge). It is enough to destroy or to upset your appliances.What can a surge do to your appliances? Your appliances are designed to run on the normal 120 volts AC supply, with some tolerance for more or less, but they can be damaged, or their controls can be upset by surges. The result is then frustration and...
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By Ernest Villafranca, 3923 Grand Ave. Oakland CA, 510-418-9443
(Better Homes and Gardens Real Estate )
Oakland Marketing Meeting at Oakland Association of Realtors, at 1528 Webster St., every Monday morning, 8:30-9:30 am. There is free parking on the side. (Please don't park in reserved spots.)For real estate professionals who want to promote their listings and comment on the market. Also a good place to network in a friendly atmosphere. General public is also welcome.There is internet access, projector, screen, and sound system. Your listings are projected on the screen. We may not have time and gas to go look at all listings but we can see them quickly on the screen, and hear your presentation.If you work in the Oakland vicinity, stop by. Everyone has a chance to speak. Refreshments and coffee provided. Free admission.I started the meeting as a way to promote OAR and National Associati...
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By Fritz Hochfellner
(Pacific Union GMAC R.E.)
http://eastbaycaliforniarealestate.com/
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By Fritz Hochfellner
(Pacific Union GMAC R.E.)
Eastbay home for sale with room for everyoneFebruary 16th, 2008 by Fritz Hochfellner   Eastbay home for sale with room for everyone NEED SPACE? to hold the BRADY BUNCH, in-laws, home office, RV, Boat or just need more room to stretch? This home has it: 10 rooms in a gigantic 4++ BD, 3 Bath Piedmont Pines contemporary on a wonderful level lot with dramatic window wrapped living and dining areas, huge play loft with skylights and views, cooks kitchen, sun-trenched decks & gardens, a fully equipped au-pair suite, even a 3+ car garage and wine cellar. It will hold everything and everybody!  Eastbay home for sale with room for everyone East Bay - Oakland-Berkeley-Alameda-Piedmo...
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By Mary Smartt, Smartt Moves with Mary Smartt
(Lawton Associates / www.LawtonAssociates.com)
As I've written about before, a lot of people still ask me about buying foreclosures. Due to the media's coverage of real estate market and the sub-prime fallout, there is a belief that there are tons of foreclosure deals out there just waiting to be snapped up. But think again. The East Bay is just different.Click here to visit a list of Countrywide's currently active foreclosures in California (and dig deeper to look at the whole country). There are over 4200 Countrywide foreclosures in the state as of February 12th. How many are in our neck of the woods?Well, Oakland has 33 on the list, and your search pretty much begins and ends with that. There is one foreclosure in Berkeley, and none in Albany, Emeryville, El Cerrito and Piedmont. That Oakland list does offer some deals for people...
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By Byron Green
(Keller Williams Realty)
First Time Homebuyers Mortgage Assistance Program (MAP)  Purpose:The First Time Homebuyers Mortgage Assistance Program (MAP) is a City of Oakland program operating jointly with participating lenders to create homeownership opportunities for lower-income, and first time homebuyers to purchase homes in Oakland.  The City of Oakland will lend qualifying homebuyers up to $75,000 to purchase a home.  As no payments are required on the City's Loan, the program extends the borrower's abiltiy to buy without increasing the monthly principal and interest payment.This can easily enable a homebuyer to have more buying power, and also significantly reduce a monthly payment that would otherwise be larger without the extra money to initially put down.    REQUIREMENTS:- Borrowers must be 'First Time Ho...
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