City of Oakland Mortgage Rates and Loans

by Amy Lillard

(5/18/2013) When most people think of the Bay Area in California, they think of the thriving metropolises of San Francisco and San Jose. But that may be about to change, as more and more people are talking about Oakland. Named “Most Exciting City in the Country” for 2013 by real estate blog Movato, Oakland is developing as a major cultural, athletic, and business hub with a booming real estate scene.

Overall, the median sales price for homes in Oakland was $300,000 during the first half of 2013, according to real estate site Trulia. That’s an increase of almost 40 percent over a year’s time. The average listing price for the week ending May 8, 2013, was $557,880, with prices varying widely across neighborhoods. Average price per square foot for the Oakland area was $264, an increase of almost 40 percent over last year.

Oakland is home to over 390,000 people, the eighth largest city in California. It neighbors San Francisco, creating a highly attractive tourist and resident location. With its location on the Pacific, and status as one of the busiest ports in California, it’s also one of the most diverse cities in the nation.

Oakland enjoys a Mediterranean climate like many other California locations, marked by mild winters and warm summers. Oakland has an average of 260 sunny days per year. The city is a naturally beautiful one, located on flat plains of the East Bay and the foothills and hills of the East Bay range. The city also features Lake Merritt, an urban estuary with a mix of fresh and salt water that was once the first official wildlife refuge in the country. It’s still home to many rare and endangered species, and also provides a beautiful waterfront downtown area.

That downtown area and other commercial areas throughout the city are marked by health care, technology, renewable energy and manufacturing companies. The local economy is dominated by the marine cargo transport industry due to the coastal port. In business and elsewhere, Oakland is continually listed among the top cities in the U.S. for sustainability practices and usage of electricity from renewable resources.

From a cultural perspective, Oakland has a significant art scene and boasts the highest concentration of artists per capita in the country. Food is an adventure in Oakland, with a diverse variety of cuisine reflecting the ethnically diverse city. Oakland has a prominent music scene in all genres, especially blues and jazz. And for sports fans, professional teams in football, basketball and baseball satisfy every need.

For more on Oakland, visit these sites:

http://www2.oaklandnet.com

http://visitoakland.org

http://www.tripadvisor.com/Tourism-g32810-Oakland_California-Vacations.html

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