Why invest in Oakland’s satellite cities?
- Homes, including foreclosures, more reasonably priced than Oakland
- Investor-friendly historical price trends
- Family-friendly suburban settings
- Seamless access to Oakland’s employment and recreational avenues
Oakland is a city that flourished economically in the 1900s as a major center for retail convenience in the Bay Area. Up until the early 2000s, development decisions were driven largely by authorities favoring major retail shopping downtown, bringing thousands of workers into the city center.
Find Foreclosure Homes in Oakland
A shift was apparent by the late 2000s, away from the development of commercial and retail business centers and towards prioritizing more residential units. Present day Oakland is often revered as a hip and multicultural residential alternative to neighboring San Francisco’s high cost of living. Investors have been trickling into Oakland’s housing market to capitalize on buyers enamored by its abundant avenues for outdoor recreation, the culinary and musical scene, and robust school districts.
As an investor looking for an affordable way to turn a profit from flipping a home, you can investigate foreclosure homes in Oakland. Auction.com has an expansive list of Oakland foreclosures for you to browse through and leverage our state-of-the-art platform to find your next big investment.
According to the Q2 2024 US Home Sales Report released by ATTOM Data, Oakland is among the cities with the highest median-priced single-family homes and condos unless you invest exclusively in foreclosure homes there. Redfin reported a median price of $890K for homes in Oakland.
When it comes to investment properties that are lighter on the pocket, the below-mentioned cities surrounding Oakland are great options, be it for traditional real estate or foreclosure homes. These cities, while offering more reasonable median prices, are also more likely to attract a buyer looking for family-friendly suburban settings with access to modern amenities and employment avenues.
San Leandro
This eastern city of the San Francisco Bay Area is a suburb of Oakland with a walkability score of 97. In addition to having 21 public parks and several quality schools, the employability quotient here is high with corporate businesses aplenty – a Coca Cola plant, Ghirardelli, Columbia Cosmetics, and more. Redfin revealed that San Leandro witnessed a 1.8% drop in home prices compared to last year, reporting a median sale price of $840K in June 2024.
Emeryville
The median home sale price in Emeryville was nearly half that of Oakland in June 2024, having witnessed a 27% Year-over-Year (YoY) reduction. Situated about 5 miles away from Oakland, Emeryville is chock-a-block with software startups and biotechnology companies, equally supplemented by plenty of quaint residential suburbs in neighborhoods like South Point, Emery Bay Village, and Watergate.
Richmond
Following a 7.4% YoY decline, the median home sale price was $655K in June 2024. While affordable by Bay Area standards, you can expect to gain significant returns on your investment property here. You can invest in Point Richmond, May Valley, and El Sobrante, which are some of the most sought-after Richmond neighborhoods that posted sharp spikes in home sale prices.
Pittsburg
As per Redfin, homes in Pittsburg sold for a median price of $600K in June 2024. You can explore properties in neighborhoods like Turnstone Circle and Carpino Avenue. The Pittsburg Unified School District sees tremendous graduation rates with highly rated schools like Los Medanos and Delta View attracting buyers. Bay Area Rapid Transit (BART) service connects this city to northern and eastern Contra Costa County areas.
Concord
In Concord, state-of-the-art modern housing goes hand in hand with a lush green environment, having been designated a Tree City USA for 33 years consecutively. Investors here may attract buyers looking for a respite from metro living. The median selling price for a home was $791K as per Redfin’s June 2024 data.
Walnut Creek
You can invest in properties in Whyte Park Avenue, Northgate, Parkmead, and Walnut Heights, which are neighborhoods that are popular among homebuyers in Walnut Creek. Properties here have been more affordable than Oakland since a 0.61% price drop brought the median selling price of a home to $810K in June 2024.
Hayward
While homes are marginally more expensive here than in Oakland, Hayward homes spend far fewer Days on Market (DoM), which looks promising for investors. The city has an eclectic mix of amenities – homes on Hayward Hills offer panoramic views, Cal State East Bay University offers top-notch post-graduate programs, over 3,000 acres of parks provide recreational activities, and a charming marine habitat is right along the shoreline.
Links To Helpful tools:
- Remote Bid™: The future of Foreclosure auctions. Browse, bid, and win select Foreclosure properties from anywhere with ease. Qualify for Remote Bid™ or meet with a specialist today.
- Frequently Asked Questions: Find answers to frequently asked questions from Auction.com users.
- Foreclosure Home Properties Help Center: Navigate through a Foreclosure auction with confidence using our quick access guide. Learn terminology and catch up on state requirements. We have tailored sections for Foreclosure and REO properties.
- Real Estate Auction Calendar: Find real estate auction events in your area. Filter by state, asset type, and date to get a list of properties near you, or search Auction.com to start a list of properties with our useful filters.
- What is Auction.com? Find out what auction.com can do for you.
- Start your search! Visit the Auction.com search page to find all our foreclosure & bank-owned homes
The information in this blog post is being provided for informational purposes only and not for the purpose of providing legal or real estate investment advice, and no liability is assumed by Auction.com, LLC. with respect to such information.
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