Oakland is one place in the country where everyone has a secret desire to own a property. It is like a satellite town away from the fast life of San Francisco. It is quiet and beautiful, nut never too far away from the action. This is the beauty of the city of Oakland which has a strategic location being 30 minutes away from San Francisco, 15 minutes from the Berkeley campus, and adjacent to the cities of Alameda and San Leonardo. But what is more appealing to all those who love to own a property in Oakland, is its climate which has been labeled as the best in the entire country. Are these not reasons enough for the Oakland real estate market to be looking up?
The Bay Area is naturally beautiful and who would not like to be soaking all the sun at this amazing place, knowing he is in close proximity to his place of business. It is really hard to talk in general terms about Oakland real estate with different areas in the city having their own distinguishing features. Despite being 8th largest city in California, the population of Oakland stands at just 400,000. It is home to the three big sporting teams of California, the Oakland A’s, Golden State warriors and Oakland Raiders. Port at Oakland is the 4th largest in the country. It is very modern and technologically very advanced in the country. It is a place where people want to be, and this is why people are interested in owning a property in Oakland.
The prices of property in Oakland were increasing sharply till in 2005, they had almost reached the sky. It had become difficult for people to even dream of owning a property in Oakland, but the prices have come down though it cannot be said that the price bubble has completely burst. Lenders in Oakland are trying to soften the scene by offering home loans at a reduced rate of interest which is why there has been a new vigor seen among those who had been lying low for quite some time. Oakland real estate is now again looking upwards with NGO’s like ACORN and Cal HFA working in unison with the lenders providing all the information to those who have interest in Oakland real estate.
If you are inclined to owning a property in Oakland, you must have knowledge of all the pros and cons of the area so as to be able to make a wise decision as it is not a matter of 1-2 tears that you will be paying EMI’s. With lenders now offering half a percentage point low rate of interest, you can save a fortune considering you pay back in 30 years. It is advisable to have all the information from your realtor. ACORN and Cal HFA have made things easier for the people by providing a list of all the properties in Oakland as also the list of lenders providing home loans. Now is the time to be investing in Oakland real estate.