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Emeryville Property Transfer TaX Ordinance #14-011 (PDF)

Please be advised that as of Jan. 1, 2015 the city of Emeryville now has a transfer tax of $12 for each $1,000 per the attached Property Transfer TaX Ordinance #14-011. Visit for more info: http://oar.org/pdfs/14-011%20PropertyTransferTax%20110414%20(2).pdf

Bornstein & Bornstein + Bay Property Group's insight:

Learn more about the Property Tax announcement for Emeryville, CA.  

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Brooklyn vs. Oakland: 2 Sister Cities struggle with Affordability

Brooklyn vs. Oakland: 2 Sister Cities struggle with Affordability | East Bay Real Estate News | Scoop.it

Though we sometimes forget in our seven by seven microcosm, San Francisco is not the only city with prohibitively expensive housing. In fact, according to Bloomberg, 20% of all U.S. housing markets are “now less affordable than their historic average as price gains outpace income growth from New York to San Francisco.” The most unaffordable though is neither Manhattan nor San Francisco, but instead is Brooklyn, NY. The gallery above highlights the typical home the median home price can buy you.

Unaffordable home ownership

Real estate data powerhouse RealtyTrac posits the findings of a recent survey of  475 U.S. counties as cautionary: Affordability—or lack thereof—is unsustainable long term, an “early warning sign of a possible home price bubble — where prices overinflate and eventually decline.” Based on RealtyTrac data, 12% of these counties now have higher median home prices than the peak of the 2005-2008 property bubble.

What is “affordable”?

Obviously income and affordability go hand-in-hand. Thus, RealtyTrac based its study also on “the median household income required to make a monthly payment for a median-priced home from the beginning of 2000 through October, using a 10 percent down payment” and the average 30-year fixed mortgage interest rate.

“Incomes have not grown nearly as fast as home prices” in the regions where affordability declined, Daren Blomquist, vice president at RealtyTrac, said in an interview. “That disconnected home-price growth has been driven by investors and other cash buyers who aren’t as constrained by income.”

In Brooklyn, almost 70% of residents rent and will continue to do so as ownership slips out of the range of possibility. Unfortunately, rents too have gone up, “surging as wealthy New Yorkers priced out of Manhattan displace the poor” and investors and foreign buyers “drive up home prices in high-cost markets, keeping many residents locked into rentals.”

Brooklyn vs. Oakland

In Brooklyn, the median sale price climbed to a record $587,515 in the third quarter of this year. That means Brooklyn residents would pay more than 90% percent of the median income to afford the payment on a median-priced home. The home in the gallery above is typical for what that amount (or more) will buy.

In Oakland, per RentJungle data, as of 11/2014, the average apartment rent within 10 miles of Oakland, CA is $3297, with one-bedroom apartments in Oakland renting for $2835 a month on average and two-bedroom apartments renting at an average of $3750. Meanwhile, the median home selling price is $500K—close enough to Brooklyn’s to make for an interesting comparison.

After all, Oakland, like Brooklyn, is removed from its sister city—one famously more expensive—by a body of water, bridges, trains and ferries. And Oakland real estate values, like Brooklyn’s in relationship to Manhattan, have gone up in response to more and more people being driven out of San Francisco’s market and looking to Oakland for lower prices. The Redfin infographic to the right shows median prices for the whole area in the last 90 days.

The median Oakland home

There aren’t a lot of homes for around $500K on the MLS right now in Oakland, but those that are might be considered a bit depressing. Just above the median at $525K, here’s a property at 1088 24th. Check it out and see how it compares to Brooklyn.

Bornstein & Bornstein + Bay Property Group's insight:

We have noticed the comparison between Brooklyn and Oakland and now it is proving validated by the media, read on! 

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Oakland Is Rising Fast... and SF Tops $1M Home Sales in US

Oakland Is Rising Fast... and SF Tops $1M Home Sales in US | East Bay Real Estate News | Scoop.it

In Oakland, however, the expensive home sales are clustered in a set of neighborhoods, including Rockridge, Montclair, and Piedmont. With buyers struggling to afford other spots in the Bay Area, they are beginning to flock to Oakland, where the average price of a seven-figure home is a comparatively low $1.324 million, and where and buyers often receive more for their money than they do in San Francisco.

The very top end of Oakland's market still can't touch San Francisco's. Despite the presence of some super-luxury homes like the "Frank Lloyd Wright-style" spaceship in Oakland's Claremont Hills, which hit the market earlier this year asking $21 million, Oakland hasn't yet had any sales above $5 million in 2014.

Bornstein & Bornstein + Bay Property Group's insight:

Watch Oakland closely and you will notice a great rising opportunity trend here! 

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Weekend at a new Coffeehouse in the East Bay

Weekend at a new Coffeehouse in the East Bay | East Bay Real Estate News | Scoop.it
Yelp is a fun and easy way to find, recommend and talk about what's great and not so great in San Francisco and beyond. Members share their favorite recommendations everything from the latest restaurants and shops, to the best hair salons…
Bornstein & Bornstein + Bay Property Group's insight:

Seeking a new coffee shop in the East Bay...check out these highly rated options. 

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Two Large Tech Companies Scoping Out Oakland's Sears Building

Two Large Tech Companies Scoping Out Oakland's Sears Building | East Bay Real Estate News | Scoop.it
Without naming names, two “large technology companies” are reportedly in discussions to lease the entire Sears Building in Oakland’s Uptown neighborhood which the department store vacated in September. The 400,000-square-foot building, which was built for the H. C. Capwell Company in 1929 and fronts Broadway, Telegraph Avenue and 20th Street, was acquired by Lane Partners for …
Bornstein & Bornstein + Bay Property Group's insight:

Commercial real estate developments will certainly help the local real estate economy in Oakland... stay tuned!

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Oakland Residential Market Sees % Rise in Interest and Activity

Oakland Residential Market Sees % Rise in Interest and Activity | East Bay Real Estate News | Scoop.it

San Francisco’s expensive and ultracompetitive real estate market is pushing apartment renters, house hunters and investors to a resurgent Oakland.
“It’s making the Oakland product very affordable,” said Paul Zeger, a partner at San Francisco-based real estate sales and marketing firm Polaris Pacific.
A number of new residential projects are under way or in the pipeline in Oakland as the city’s rents and home prices surge due to the Bay Area’s ongoing economic boom that has made San Francisco and Silicon Valley among the hottest markets in the world. But compared to those two areas, Oakland offers a less costly yet still attractive alternative.
People are moving out of such San Francisco neighborhoods as trendy Hayes Valley and going across the bay where the restaurant, entertainment and cultural scenes are experiencing a revival—especially in Jack London Square and Uptown, Zeger said.
“In San Francisco, you can rent a one-bedroom apartment for $3,000 to $4,000 a month,” he said, but for the same monthly mortgage, “you can own a two-bedroom home in Oakland.”
According to real estate brokerage Redfin, the median home sales price in Oakland was $550,250 in June—a year-over-year growth of 3.8 percent. In contrast, the median price in San Francisco was $925,000—a growth of 12.8 percent—while it was $770,000 in San Jose where it saw a 10.8 percent increase.
Average monthly rental rates up 11% in the East Bay over the past year! 
Rents in the East Bay also are on the rise but remain way below San Francisco and South Bay rents. According to research by commercial real estate services firm Cassidy Turley, the average monthly rate in the East Bay jumped nearly 11 percent in the past year to $1,805. Average rents in San Francisco, however, are at $3,229 and in Santa Clara County $2,321—both rates representing an annual growth of more than 9 percent.

Bornstein & Bornstein + Bay Property Group's insight:

Average monthly rental rates up 11% in the East Bay over the past year! 

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Berkeley considers outlawing pet restrictions on rentals

Berkeley considers outlawing pet restrictions on rentals | East Bay Real Estate News | Scoop.it

Apartment hunters having an impossible time finding pet-friendly dwellings may want to set their sights on Berkeley, which is considering a first-of-its-kind law that would forbid landlords from imposing pet restrictions on tenants.

City Councilman Jesse Arreguin wants landlords to accept everything from hamsters to Saint Bernards — so long as the pet can be reasonably accommodated, is well behaved and the tenant takes responsibility for property damage.

State laws exist to grant exemptions from pet bans to tenants with physical or mental disabilities who rely on service animals or emotional-support animals, but Arreguin’s proposal would offer protection to all tenants and type of pets.

Part of the problem, Arreguin said, is that landlords have complained about a “floodgate” of tenants claiming mental illnesses and the need for emotional-support pets. Such exemptions from pet bans confuse other tenants, Arreguin said. His proposal would provide “clarity and convenience” for both landlords and tenants, who would be required to disclose whether they have a pet.

Additionally, Arreguin said, allowing tenants to keep pets would cut down on the city’s homeless pet population. Every month, several people surrender their dogs or cats at the city’s animal shelter because they can’t find landlords who accept them, officials there said.

Landlords are less than thrilled about Arreguin’s proposal.

“It’s going to create more disputes, more strife, more problems. I don’t think it’s something the city needs to get involved with,” said Sid Lakireddy, president of the Berkeley Property Owners Association. “The status quo doesn’t need fixing.”

 

Damage control

...
Bornstein & Bornstein + Bay Property Group's insight:

“It’s going to create more disputes, more strife, more problems. I don’t think it’s something the city needs to get involved with,” said Sid Lakireddy, president of the Berkeley Property Owners Association. “The status quo doesn’t need fixing.”

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Join us at Sunday Streets Berkeley this weekend!

Join us at Sunday Streets Berkeley this weekend! | East Bay Real Estate News | Scoop.it

Come o"Open Streets events are possible in cities all over the country because of the support of people like you! Donate to help make another Sunday Streets Berkeley possible.

Sunday Streets Berkeley is presented by Livable Berkeley and the City of Berkeley

in association with the Downtown Berkeley AssociationNorth Shattuck Association,  Office of Mayor Tom BatesEast Bay Bicycle Coalition, & Ecology Center.

Livable Berkeley promotes sustainable land use and transportation policies to reduce our impact on the environment and make our city more walkable, and more cyclist and public transit-oriented, with vibrant public spaces and commercial districts.

Bornstein & Bornstein + Bay Property Group's insight:

Come out on Sunday, bring the family and the kids for a day partying and fun on the streets of Berkeley!

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Fried Chicken For The Soul - East Bay

Fried Chicken For The Soul - East Bay | East Bay Real Estate News | Scoop.it
Yelp is a fun and easy way to find, recommend and talk about what's great and not so great in San Francisco and beyond. Members share their favorite recommendations everything from the latest restaurants and shops, to the best hair salons…
Bornstein & Bornstein + Bay Property Group's insight:

"Regardless of our northwestern latitude, there's no denying that the East Bay's got soul. So next time you're jonesing for some fried chicken, collard greens, and honey-butter cornbread, hitch a ride to one of these Yelper-approved joints."

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SF bankers now exporting tenant-displacing TIC loans | SF Politics

SF bankers now exporting tenant-displacing TIC loans | SF Politics | East Bay Real Estate News | Scoop.it

Fractional mortgage loans used to convert apartments into owner-occupied tenancies-in-common have fed theeviction and displacement crisis in San Francisco, where the median home price just surpassed $1 millionfor the first time. Now, some of the same San Francisco banks that pioneered fractional loans here have started offered them in the East Bay and on the Peninsula.

Bornstein & Bornstein + Bay Property Group's insight:

"San Francisco banks that pioneered fractional TIC loans here have started offered them in the East Bay and on the Peninsula."

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City to Watch: Oakland Rising

City to Watch: Oakland Rising | East Bay Real Estate News | Scoop.it
Oakland is enjoying a moment in the sun right now, as evidenced by a recent spate of media hits and amorous outpourings on social networks. But after Nat Geo photographer Catherine Karnow and I spent time there on assignment, we both left convinced that the city’s ascent isn’t fleeting, but one that will have a long tail, bolstered by a steady stream of colorful shop and restaurant openings and an influx of equally colorful characters seeking lower rents and a less stressful lifestyle.
Bornstein & Bornstein + Bay Property Group's insight:

Read more about the impressive rise of the west coast "Brooklyn"... evolving, growing and a truly rising star on the horizon!

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Temescal Telegraph Business Improvement District - Home

Temescal Telegraph Business Improvement District - Home | East Bay Real Estate News | Scoop.it

11th Annual- Temescal Street Fair, Telegraph Ave btwn. 40th and 51st St. in North Oakland. Fine Crafts and Community Booths, Sunday July 6th, from noon to 6pm. Come out and celebrate!

Bornstein & Bornstein + Bay Property Group's insight:

Join the community at the Temescal Street Fair this Sunday from noon to 6pm, 40th to 51St in North Oakland!  Bring the whole family...

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Development Booming Along East Bay I-580 Corridor

Development Booming Along East Bay I-580 Corridor | East Bay Real Estate News | Scoop.it
By Michele Chandler Rising property values in San Francisco are finally rippling out to surrounding communities, helping to fuel a flurry of development in the East Bay. Major multifamily, retail and office projects are going up along an important stretch of Interstate 580 that includes the neighboring cities of Livermore, Dublin and Pleasanton. Retail is […]
Bornstein & Bornstein + Bay Property Group's insight:

"Major multifamily, retail and office projects are going up along an important stretch of Interstate 580"

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What's Libby's New Plan as Mayor of Oakland

What's Libby's New Plan as Mayor of Oakland | East Bay Real Estate News | Scoop.it
A Plan to Make Oakland Safe Again

"It’s time to reject that crime is an urban tax we must pay for living in Oakland. Oaklanders need to know police will be there when we need them, and that we and our neighbors will get prompt responses to 911 calls. We must expand community policing so that we connect our police with our neighborhoods in a way that prevents crime before it happens. We must address the root causes of crime, starting with better schools, wages and jobs." –Libby Schaaf

Read Libby's Community Safety Policy Paper (PDF).

Not only will Libby hire police we need, she will also institute better policing practices and drive crime prevention and school outcomes for our children. As Mayor, Libby Schaaf will:

Strengthen the Police Force

Work to hire more police officers to protect every Oakland neighborhood and bring the Oakland police department up to full strength.

Hire more civilian police employees

Speed up police investigations and keep police officers out in our neighborhoods.

Fix the 911 System

Build an improved 911 system to speed up response times so the police come when you call.

Restore Community Policing

Improve neighborhood policing that reduces violence by building trust, identifying the specific needs in the neighborhood, and using data to know where to step in before crime happens.

Education for all Oakland

read more... http://libbyforoakland.com/issues.html

Bornstein & Bornstein + Bay Property Group's insight:

Oakland's new Mayor Libby Schaaf has a variety of initiatives and plans for the flourishing city... read on to learn more!

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Nuisance Eviction Ordinance changes regarding sex workers...

Nuisance Eviction Ordinance changes regarding sex workers... | East Bay Real Estate News | Scoop.it
Sex worker advocacy groups in the Bay Area have taken to social media and traditional media methods to express their outrage over Oakland’s recent updates to an existing “nuisance eviction ordinance” for housing. Advocates believe that the newest addition will allow landlords to unfairly e
Bornstein & Bornstein + Bay Property Group's insight:

the nuisance ordinance revisions on September 16...some of the recommendations included adding gambling, possession of illegal ammunition, and “prostitution, pimping, pandering and solicitation activity” as causes for eviction!

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New Oakland Mayor - Schaaf to Make Oakland Easier for Developers

New Oakland Mayor - Schaaf to Make Oakland Easier for Developers | East Bay Real Estate News | Scoop.it

Yesterday morning Oakland Mayor-elect Libby Schaaf, joined by the city's top developers, explained why the stars are aligning--and what's still a little off center--at Bisnow's 450-person event at the Marriott City Center.

Schaaf, an Oakland native, says Oakland's too beautiful to "sell its soul for growth"--and it doesn't need to. To grow the city without causing displacement, she's encouraging big development in the right places. And we've got plenty of those, she says. (Unlike a "city unnamed" across the Bay, we still have dirt, she says.) There are places begging for development and she's working hard to make it easier. That means "performing your EIR for you to encourage that growth.

Yesterday, we broke the news that EVB, an 80-person ad agency, will transplant its HQ from S.F. to Oakland at 1738 Telegraph in early 2015. The lucky landlord is Citrine Advisors (president Jerry Smith, above, was a speaker). The decision to move from 55 Union was partly driven by EVB’s desire to be part of Oakland's inspiringart, music and tech scene. Their new 10k SF office couldn't be much closer to culture (Fox Theater is across the street). The former Woolworth’s Department Store is getting a custom revamp and will feature a penthouse roof deck and ground floor retail space the agency plans to use as a rotating art gallery. Expect a formal announcement from the company today.


Read more at: https://www.bisnow.com/san-francisco/news/office/Libby-Schaaf-Make-Oakland-Easier-for-Developers-40505

Bornstein & Bornstein + Bay Property Group's insight:

Oakland is about to change under the new mayor Libby Schaaf, with a soft-spot for real estate development improvements, stay tuned!

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Libby Schaaf declares victory in Oakland mayor’s race

Libby Schaaf declares victory in Oakland mayor’s race | East Bay Real Estate News | Scoop.it
A tearful, bleary-eyed Libby Schaaf declared victory in the Oakland mayor's race at 2:15 a.m. Wednesday after Alameda County elections officials released preliminary instant runoff results that showed her finishing far ahead of second-place candidate Rebecca Kaplan. Schaaf started out in the lead and climbed to apparent victory with 63 percent of the vote by defeating 14 other candidates gunning for the seat. A spokesman for Kaplan called Schaaf’s announcement “premature” and said the re
Bornstein & Bornstein + Bay Property Group's insight:

Welcome the new mayor of Oakland! Meet Libby Schaaf who will be taking over for Jean Quan... what changes will come? Stay tuned... 

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Announcement: Oakland's Tenant Protection Law Passed

Announcement: Oakland's Tenant Protection Law Passed | East Bay Real Estate News | Scoop.it
The Oakland City Council approved a law Tuesday that seeks to protect Oakland tenants from evictions by landlords seeking to raise rents.The Tenant Protection Ordinance would make it easier for tenants to fight landlords in court if they are being illegally pressured to vacate their units.
Bornstein & Bornstein + Bay Property Group's insight:

With Oakland now having the highest rental growth rate in the US, the issue of poorly protected tenants is now sealed into a new law!


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On the Up...Oakland's Art Murmur and First Fridays!

http://oaklandartmurmur.org/about-oakland-art-murmur/

The mission of Oakland Art Murmur is to ignite and nurture a lifelong love and appreciation of art. Through public programming and community outreach, we increase awareness of and participation in the visual arts in Oakland.

Oakland Art Murmur’s vision is for Oakland to be recognized as a nationally and internationally-known and respected contemporary art destination.

PROGRAMS

OAM organizes a free monthly First Friday gallery walk, known as ‘The Art Murmur’, when member galleries and mixed-use venues are collectively open to the public and hold artists receptions. This takes place on the First Friday of the month from 6–9pm.

Most member galleries also participate in the weekly Saturday Stroll, when galleries and mixed-use venues are open every Saturday from 1–5pm. Many galleries also host free cultural programs such as receptions, artist talks, lectures, musical performances, and literary readings on Saturdays.

OAM offers a monthly Guided Walking Tour on the third Saturday of each month, when a gallery director or other prominent member of the Oakland art community takes visitors to 3-5 galleries for presentations from curators or artists about their current shows. Tours are themed and take place 2–4pm.

OAM distributes printed maps of member galleries and exhibition spaces. Mobile maps are available through our friends at Mosey.

OAM maintains this website, which offers detailed information about current exhibitions and events.

OAM also offers supporters access to special events and discounts at member galleries and cultural partners through our Friends of Oakland Art Murmur membership program.

IMPACT

OAM member venues exhibited over 1200 artists in more than 400 exhibitions in 2012, to an estimated 84,000 visitors.

OAM ran 14 free public walking-tours in 2012, introducing hundreds of visitors to Oakland’s galleries and the artists they show, while educating them about topics such as ceramics, drawing, textile approaches in art, starting a collection, street art in Oakland, and trends in contemporary art.

OAM member venues offered over 100 free Saturday programs for the public during the year, including artists talks, panel discussions, curator’s introductions, artists performances, concerts, film screenings, art demonstrations, and book signings.

OAM continues to contribute to the economic health and reputation of downtown Oakland by filling storefronts, attracting new visitors and residents to the area, and providing a positive and engaging cultural experience for those who come.

OAM also supports its community by generating not only local but also regional, national, and international press attention to Oakland, providing good-news stories about the city’s thriving art scene and cultural renaissance.

HISTORY

Oakland Art Murmur began as an acknowledgment by eight arts spaces located in the Northgate and Temescal neighborhoods that a cooperative effort to promote the arts in the region would garner more attention for their individual visual art programs. This led to the first First Friday Art Walk in January 2006, when all participating spaces (which then included 21 Grand, 33 Grand, Auto 3321, Boontling Gallery, Buzz Gallery, Ego Park, Front Gallery, and Rock Paper Scissors Collective) held concurrent receptions. The gallery walk grew over the years, and Oakland Art Murmur now includes almost forty galleries and mixed-use art spaces throughout the City of Oakland.

Along side Oakland Art Murmur’s First Friday gallery walk, a popular street festival known as Oakland First Fridays has also evolved, which includes street performances, food and craft vending, one-night art installations, receptions and shows at art venues who are not associated with OAM. This event is currently managed by Oakland First Fridays with infrastructure support from KONO, City of Oakland, and Uptown CBDs. Together, Oakland First Fridays and Oakland Art Murmur attract up to 20,000 pedestrians, bicyclists, BART riders and car-poolers from across the Bay Bridge and beyond the Caldecott tunnel on that one evening a month.

With First Friday so successful, the OAM organization has turned its energies in the to bringing visitors to the galleries on other evenings and days, raising awareness about Oakland’s galleries and artists among audiences outside of Oakland, and building relationships with other cultural institutions and patrons, both in Oakland and beyond.

ORGANIZATION

Oakland Art Murmur is a non-profit California public-benefit corporation, run by a volunteer Board of Directors. It is fiscally-sponsored by Fractured Atlas, and receives tax-deductable donations through them. Its day-to-day operations are managed by a part-time Director of Operations, Jillian Piccirilli, who is supported by President of the Board Danielle Fox, Membership Director Dalya Sachs, Gallery Liaison Dasha Matsuura, Designer Jason Kulp, and a team of wonderful volunteers.

Bornstein & Bornstein + Bay Property Group's insight:

Oakland is rising up, art walks, first fridays and other aspects of this up and coming city is happening, watch out Brooklyn! 

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Oakland leads US 9.4% growth almost 2X of SF!

Oakland leads US 9.4% growth almost 2X of SF! | East Bay Real Estate News | Scoop.it

2 Bay landlords who are doing everything they can to evict low-income tenants who are either living in rent-controlled apartments or receiving assistance from the Section 8 housing program.


Industry insiders say this trend is a sign of the times. As the housing market bounces back landlords can get more money by renting to new tenants who are not part of the Section 8 housing program. Getting out of the program is not as simple as opting out. Landlords must first get tenants to agree to leave or they need just cause to evict.


But some landlords aren’t willing to wait, and 2 Investigates uncovered some questionable tactics being employed to force low-income residents out of their homes quickly.

Bornstein & Bornstein + Bay Property Group's insight:

Oakland had the highest annual rent growth in the nation at 9.4 percent. San Jose came in second at 8.9 percent and San Francisco came in ninth at 5.1 percent. 

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SPUR to open Oakland office for 'inclusive growth' policies

SPUR to open Oakland office for 'inclusive growth' policies | East Bay Real Estate News | Scoop.it

"The urban policy group SPUR will set up shop in Oakland for the first time in January, pledging to push for strategies that will help the city achieve “inclusive growth.”

The organization, formerly known as the San Francisco Planning and Urban Research Association, " brought aboard Oakland director Robert Ogilvie last week to extend a reach that has included San Francisco for more than a century and San Jose for two-and-a-half years. The expansion comes as "Oakland sees rents shooting up, badly needed "redevelopment starting to taking shape and all the tricky questions that come with a shifting city.

“Oakland is trying to invent a new model of neighborhood development that’s inclusive of everyone. I hope we can help figure that out,” SPUR’s executive director Gabriel Metcalf said. “Without intervention, what the market does is lead people with more money to always win. Oakland doesn’t want to go down the path of becoming a totally gentrified city. It wants to find a way to make room for everybody.”

In recent years, SPUR has worked with San Francisco-based developers, politicians and activists to search for affordability solutions, such as the Housing Trust Fund. Since starting a San Jose operation, SPUR has pushed the city to expand public transit. The group has also "staked out an explicitly pro-growth stance – rankling advocates who have pushed for San Francisco to hit the brakes on building new highrises.

Ogilvie, formerly the vice president of strategic engagement at Changelab Solutions, said SPUR is looking to make a positive impact on Oakland by bringing business and political leaders to the same table as “the most sophisticated advocates in the country.” He added that the group would likely start with work focused on the city’s downtown.

Bornstein & Bornstein + Bay Property Group's insight:

“Oakland is trying to invent a new model of neighborhood development that’s inclusive of everyone. I hope we can help figure that out,” 

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OPEN HOUSE - 6 Units at 1911 40th Ave., Oakland 94601

OPEN HOUSE - 6 Units at 1911 40th Ave., Oakland 94601 | East Bay Real Estate News | Scoop.it

Investment Highlights:

  • Over $35k in recent updates
  • 4 Units have new kitchen cabinets, granite counter tops, and laminate flooring
  • New bathroom flooring
  • A new exterior perimeter fence
  • Close to Fruitvale BART station and freeway access to I-580


Bornstein & Bornstein + Bay Property Group's insight:

Join Nolan Jones for his OPEN HOUSE on

Thursday, 8/28 12-1:30pm   

ALL Offers Due by Sept. 1st at or before 5pm

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Berkeley Property Owners: Real Property: Transfer Tax Seismic Refunds %

REAL PROPERTY TRANSFER TAX – SEISMIC RETROFIT REFUND

A property transfer tax of 1.5 % is imposed on all transfers by deeds, instruments, writings or any other document by which any lands, tenements, or other interests in real property are sold, located in the City of Berkeley, which are, or is granted, assigned, transferred or otherwise conveyed to or vested in a purchaser, or purchasers thereof, or any other person or persons, by his/her or their direction. For details, see Berkeley Municipal Code (BMC) Chapter 7.52. (see note, below, on BMC access)

Included here is information about: 

From the date of recordation of transfer, an applicant will have 1 year

areas:

1.  Completion of Seismic Retrofit Work and/or Requests for Extensions

Property owners have up to 1 year after the sale is recorded with Alameda County to complete the seismic work and file for the refund. The ordinance does allow for this deadline to be extended for good cause, for up to 1 additional year. Requests for extensions are handled on a case-by case basis, and must be submitted to the Finance Department no later than the initial deadline, and must be received in writing.

“Good cause” includes: 1) the inability of the applicant, after a prompt and diligent search to find and retain the services of an architect, engineer, contractor or other service provider whose services are necessary for the seismic retrofit work; 2) unforeseen and unforeseeable circumstances such as a significant change in the scope of the seismic retrofit work due to circumstances in the field which could not reasonably have been known earlier; and 3) serious illness or other extraordinary and unforeseeable circumstances that prevented the timely commencement or completion of the seismic retrofit work. 

“Good Cause” does not include 1) ignorance of the applicable City ordinances or regulations concerning the seismic retrofit refund provided in this chapter or state or local laws relating to the standards with which seismic retrofit work must comply; or 2) delays which were within the control or responsibility of the applicant. (Ordinance 6539-NS § 1, 2000; Ord. 6262-NS § 1, 1994; Ord. 6146-NS §§ 1, 2, 1992; Ord. 6072--NS § 2, 1991; Ord. 6069-NS§ 1, 1991; Ord. 5061-NS § 5, 1978) (see note, below, on BMC access related to these Ordinances)

2.  Processing the Refund

After the seismic work is completed the owner or the contractor must file a Seismic Retrofit Verification & Refund Application with the Planning Department - Building & Safety Division (510) 981-7440. A City of Berkeley Building Inspector inspects the work, and approves or denies the application. If the Building & Safety Division approves the Verification Application, the Finance Department will either a) authorize the title company to release funds held in escrow, or b) issue a refund check if funds were not held.

To complete the Seismic Retrofit Refund process, you will need:

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Refund of Overpayment of Real Property Transfer Tax

You may file a claim for refund of OVERPAYMENT of Transfer Tax, apart from the Seismic Retrofit Refund process, see the following procedures and claim form. You have 1 year from the date of payment “under protest” to file a claim. (Government Code Section 935; BMC Chapter 7.20) (see note, below, on BMC access) 

To file a Claim for Refund of Real Property Transfer Tax, you will need:

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 to complete all seismic retrofit work and submit a Seismic Retrofit Verification & Refund Application to the Planning Department - Building & Safety Division. For further details, see the Seismic Retrofit Program & Refund Guidelines and the following information.

Seismic Retrofit Refund Program

The Seismic Retrofit Refund Program allows for up to 1/3 of the City of Berkeley transfer tax to be refunded for voluntary seismic upgrades to residential property. See also BMC Section 7.52.060.K. (see note, below, on BMC access)

The Seismic Retrofit Refund Program consists of 2 main 

Bornstein & Bornstein + Bay Property Group's insight:

"The Seismic Retrofit Refund Program allows for up to 1/3 of the City of Berkeley transfer tax to be refunded for voluntary seismic upgrades to residential property. "

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Love Our Neighborhood Day - Come out and Play, Sat on 7/12

July 12th, 2014 Love Our Neighborhood Day, North Oakland and Emeryville. Come out and Play from 11am to 3pm! @loveourhood 

Bornstein & Bornstein + Bay Property Group's insight:

Join us for a community outreach day from San Pablo Ave, 55th, Doyle, and 65th St will become human powered fun! 

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Richmond Cops Dance to celebrate 33 year low crime rate!

Richmond Cops Dance to celebrate 33 year low crime rate! | East Bay Real Estate News | Scoop.it

Richmond, CA police will likely always have the reputation of working in a city that once ranked on the nation's 10 most dangerous cities list.

But on Saturday, the handful of on-duty at the city'sJuneteenth Festival didn't have any immediate homicides to solve.

Instead, they got down and dirty to the "Wobble," asDJ O Aces spun the tunes from his table. Dressed in full uniform, two officers wiggled and shook - holsters attached - as onlookers cheered them on. At one point, a woman in a leather skirt and a pink top joined the pair.

Angel Estes, 50, was there, and shot the scene on his cell phone.

"It was so awesome," he told NBC Bay Area on Wednesday. "I was noticing how they were interacting with the community. With all the crime, you wouldn't think they'd have the time."

In 2007, Richmond was removed the the FBI's 10 most dangerous cities list. Under the leadership of Richmond Police Chief Chris Magnus, Bay Area News Group noted that Richmond's 2013 homicide total was its lowest in 33 years.

Sixteen people were killed in Richmond in 2013, the lowest total since 1980 and a far cry from the 40-plus tallies of just a few years ago. The newspaper also noted that total reported crimes also continued a decade-long fall and were more than 40 percent lower than the 2003 total.

All that should give Richmond police a reason to dance."

Bornstein & Bornstein + Bay Property Group's insight:

Richmond once ranked as one of the nation's top 10 most dangerous cities... not crime is dropping rapidly. This will increase real estate pricing also!

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Zillow CEO Spencer Rascoff named EY National Entrepreneur Of The Year™ 2013 Services Award winner

Zillow CEO Spencer Rascoff named EY National Entrepreneur Of The Year™ 2013 Services Award winner | East Bay Real Estate News | Scoop.it
/PRNewswire/ -- Spencer Rascoff, CEO of Zillow, has been named the EY National Entrepreneur Of The Year™ 2013 Services Award winner. The EY Entrepreneur Of The Year Award is the country's most prestigious business award for entrepreneurs.

Via Russ Bergeron
Bornstein & Bornstein + Bay Property Group's insight:

Congrats to Zillow's CEO, Spenser Rascoff, for being names National Entrepreneur of the Year!

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