9 Things San Francisco Buyers Need to Know about the East Bay

It’s no secret that San Franciscans are turning their homebuying eyes toward Oakland, Berkeley and other East Bay cities.

But Golden City residents don’t always know what to expect from the sunny side of the bay — that the sunset views from Joaquin Miller Park rival any in across the Bay (other than Land’s End maybe), that a hike among giant redwoods is roughly a 10-minute drive from downtown Oakland or that the commute to downtown San Francisco can be shorter from North Berkeley than many parts of the town they call home.

And many are making the move. Red Oak Realty estimates that a quarter of its buyers in 2015 came from San Francisco.

For this reason, we’ve outlined some common San Franciscan misconceptions about their eastern neighbor.

1. East Bay culture is vibrant, diverse

You may think you’ll miss San Francisco’s culture, but take a walk around Oakland’s Lake Merritt — you’ll see all colors, ages, races, languages, classes and socio-economic levels enjoying East Bay’s jewel. And there are more artists per capita in Oakland than any other city in the US. You’ll love it, and soak in the same cultural vibrancy that used to shine so brightly in San Francisco.

Lake Merritt, Oakland’s cultural hub, offers world-class people watching.

“It’s so (culturally) rich over here,” said Red Oak Realty agent Patrick Leaper. He emphasizes this to his prospective San Francisco buyers looking east.

2. It’s competitive

The heat burning San Francisco’s housing market is searing the east as well.

Some San Francisco buyers anticipate they’ll breeze into the East Bay and win the home that piques their interest with no problem. Not the case.

East Bay single-family homes went for an average of 13.4 percent over asking in 2015, according to MLS data analyzed by Red Oak Realty.

Be prepared to come with top dollar, write offers with no contingencies and prepare for multiple-offers on the homes you want, said Red Oak agent Jose Fernandez. Thinking an offer of $30,000 over asking will win a house can be a pipe dream.

3. A relatively BIG deal

But homes here can still be had for a relatively big deal to San Francisco.

Check out the median price per square foot of homes in a pair of comparable San Francisco and East Bay neighborhoods around walkability and proximity to coveted amenities: Noe Valley (San Francisco) and Rockridge (Oakland), and Hayes Valley (San Francisco) and Temescal (Oakland).

Source: EBRDi data analyzed by Red Oak Realty

4. Understand the heat of East Bay’s hottest neighborhoods

East Bay homes ARE a relative deal to San Francisco homes, but it’s best to be prepared to guard against sticker shock and potential heartache.

To give you a taste of what to expect, check out the average 2015 list-price-to-sale price of homes in some of the area’s hottest ’hoods.

Top 5 East Bay hottest neighborhoods

Source: EBRDi data analyzed by Red Oak Realty

Click here to see how all neighborhoods performed (prepared by Red Oak Realty using local MLS data).

5. Farther as the crow flies, shorter by BART & bus

As anyone who’s taken the slow-as-molasses metro from Outer Sunset knows, the San Francisco commute can be a beast.

If your workdays take you to the Financial District or SOMA, many parts of the East Bay — including even North Berkeley and Richmond can offer quicker commutes — than parts of San Francisco. This is thanks to a robust AC Transit transbay bus system (yes, bus!) that spiders into many pockets of the East Bay and, of course, BART.

When you hear bus, don’t recoil. Transbay buses have WiFi and are quick. North Berkeley to the Financial District — 35 minutes.

Red Oak Realty agent Emma Morris had one recent San Francisco buyer client set on a charming 4-bedroom, 2-bath home in North Berkeley, but faced stiff competition and a skyrocketing price: it went for $1.67 million, 52 percent over asking. They did not win it.

She introduced her buyers to Kensington, the hamlet nestled in the hills north above Berkeley. They found a larger 4-bedroom, 3.5-bath home two blocks from a Transbay bus stop for $1.25 million, 3.1 percent below list price.

6. It’s sunnier

Need we say more?

7. Hire a good local agent

The East Bay spans multiple cities, each with their own strengths and weaknesses. The same can be said for its dozens of neighborhoods, whose character can shift street by street.

This variegated makeup requires buyers to have a local expert in the corner to have the best chance to win the home they want, said Red Oak agent Linda Elkin.

Some East Bay sellers (and their agents) will hesitate to sell to out-of-area buyers who don’t have a local agent, she said. They know local buyer’s agents know how to properly educate their clients about the nuances of a home’s neighborhood, eliminating the possibility of a backout if buyers learn of some unforeseen area imperfection at the last minute.

A knowledgeable local agent helps, but it’s also critical to get a vibe yourself, Red Oak Realty agent Angelo Raymundo said. He advises his buyer clients to walk the streets of the neighborhoods they’re interested in and talk the neighbors.

8. You won’t starve

San Francisco has world-class eats, but you won’t lose hip, top-notch food and ambiance from your backyard in the San Francisco bay jump.

Calavera (and its amazing Mezcal collection),

Calavera in Oakland

Penrose

Penrose in Oakland

Comal

Comal in Berkeley

9. You might have a yard … and a parking space!

Enough said.

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