We have been working with so many clients who would prefer to purchase a new home rather than have to rent. A new line of thinking is brewing for the Bay Area . . . buying in areas that might not be a first choice. We remind our relocation clients that the benefits of considering these areas is that they are going to be the newest popular places to live.
For instance, the East Bay’s up-and-comers include Oakland’s Fruitvale and Millsmont districts, and some neighborhoods in Richmond. The median price for Richmond homes was $380,000 in the three-month period from January through March 2017. In the three-month period from December 2017 through February 2018, the latest numbers available, the price soared to $548,000, according to Redfin.
Crime in Richmond has dropped and in recent years the city has become a national model for community policing. New businesses are coming to Richmond, too, such as Catahoula, which opened some years ago on San Pablo Avenue. Also, Nearby Pinole, as well as Hercules, another West Contra Costa County city, are also up-and-coming cities.
Casa Arabella for instance, is a new 94-units of affordable housing near the Fruitvale BART station – great commute option.
Richmond and Oakland are close to San Francisco, making them attractive to commuters. Some areas that are further out, such as Vallejo, are also seeing a jump in prices. The San Francisco Bay Ferry provides year-round weekday and weekend service between Vallejo and the San Francisco Ferry Building, one of the biggest draws for the city.