$6,000 a month sitting around--3240 Sterling Avenue, Alameda, CA
This house has been on craigslist for a few days, priced at $629K, but only today did a full-blown listing with big pictures appear.
Nothing spectacularly wrong with this lovely bungalow until you look at its recent sale history.
I want $72,000 a year for doing nothing too.
Update 2/6/2008: Price dropped to $599,000.
Update 2/27/2008: Funny how a purported $6,000 / month appreciation is turning into a $500 / month drop. This home just got dropped to $550,000, less than the purchase price 15 months ago. Some Christmas present they gave themselves.
Update 7/27/08: Hard to believe, but this sweet bungalow is still active, with an even lower price. The price drop history looks like this:
Nothing spectacularly wrong with this lovely bungalow until you look at its recent sale history.Looks as though the seller may have priced it using the "my home appreciation is as good as a full-time job" method and added $6,000 per month to its original purchase price. Never mind that prices haven't exactly been appreciating over the past 12 months, and certainly not at a 13% y-o-y pace. The official site says nothing about recent improvements or maintenance, so you'd basically be paying a $72,000 premium for the privilege of buying a one-year-older house.Last sale and tax info
- Sold 12/27/2006: $557,000
- 2007 Property Tax: $7,078
I want $72,000 a year for doing nothing too.
Update 2/6/2008: Price dropped to $599,000.
Update 2/27/2008: Funny how a purported $6,000 / month appreciation is turning into a $500 / month drop. This home just got dropped to $550,000, less than the purchase price 15 months ago. Some Christmas present they gave themselves.
Update 7/27/08: Hard to believe, but this sweet bungalow is still active, with an even lower price. The price drop history looks like this:
$629,000 to $599,000 in early February, 2008
$599,000 to $550,000 in late February, 2008
$550,000 to $525,000 at some point
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