Part of the Bay Area News Group

Alameda real estate gaining assessment value

By lryan
Thursday, July 23rd, 2009 at 11:30 am in Real Estate.

Alameda houses growing in assessed value.

Alameda houses growing in assessed value.

“Alameda, Piedmont, Albany, Berkeley, Emeryville, Lafayette, Moraga and Orinda have all seen their assessed property values increase, albeit slightly, according to data from the Alameda and Contra Costa counties’ assessors’ offices.”

Remember good news? It seems it may not have left the planet after all, at least in terms of property value. Check out this story from the Alameda Journal.

[You can leave a response, or trackback from your own site.]

  • bob

    Stories like these do more to remind me why my wife and I are moving to another city in a few years- possibly to Austin, Raleigh, Atlanta, or some other place or state. That begs the question: is this really good news? I mean- the situation in Alameda, Piedmont, or basically anywhere in the Bay Area that’s remotely desireable is that you are still going to be shelling out something close to half a million bucks for what is typically a starter home with a small yard.

    Housing markets have fluctuations, corrections, bubbles, and doldrums. Its important for these cycles to run their course in order for the future generations of residents to be able to afford their own homes so they can in turn ensure a future tax income for their respective cities. The problem is that the prices are still way too high for even folks making good incomes. My Wife and I make well into the 6 figure range, yet even if we were to put down a sizeable chunk of change, the payments would mean if we lost our jobs ( which is more likely than it was a few years ago) we would immediately be in financial trouble. We’re not willing to take that risk nor should home buying be such a drastic decision.

    Thus the Bay Area and other juicy parts of the state finds that they still have an affordability problem and the latest batch of the youngest and brightest are vacating its borders.( at least most of my 30-something friends are) Just look at any report on national growth and its clear that its happening most aggresively in states like North Carolina, Texas, Georgia, and even parts of Alabama. Economic success occurs where the middle class prospers.

    We actually visisted a few of these cities. Most are quite nice, well-planned, and now with their own brands of young, hip, energetic appeal (Japanese returaunts, breweries, and art galleries). The difference is that a typical house in these areas can easily be had for under $150,000, or about the price of 2/3rds of a 1 bedroom loft in Oakland. In other words, its actually realistic to have a regular job and a regular, manageable mortgage and live a regular middle class lifestyle versus paying to have a middle class existence with a dual executive income.

    Thus is it any wonder that when I read stories like these- that THANK GOODNESS, property values are holding tight and I assume will for the wishful sakes of their long-term property 13, Measure A protected owners once again begin their climb into stratosperic appreciation, that I start thinking of packing some bags. Adios Bay Area. Enjoy your property values.