Flip flopping--1732 Union Street, Alameda, CA
You'd think flipping houses had gone out of fashion in 2006. But I guess not:
This property (MLS #40328773) came on the market on 3/8/2008, per ZipRealty. Are people so bored they're flipping houses for entertainment?
$450,000 - 6% - $1,819 - $438,500 = $17,319 loss, or $48 / day of ownership, which, amusingly, is almost exactly what my rent comes out to.
The next person who claims I'm throwing money on rent gets a free, customized public berating on this blog.
Update 4/18/08: This is really bizarre, but not unheard of (the ugly orange triplex right next to farmer's market at 647 Taylor did the same thing a year or two ago, and still hasn't sold; MLS #339308). After not selling for a while, the seller raised the price to $465,000:
ZipRealty Price Track:
And they don't seem to know what price they really want:
Cozy bungalow updated throughout. This beautiful home features brand new hardwood floors, remodeled kitchen, and new paint inside and out. Nice neighborhood and great schools. Check out virtual tour!
This property (MLS #40328773) came on the market on 3/8/2008, per ZipRealty. Are people so bored they're flipping houses for entertainment?That's right--back on the market 359 days after the last sale, listed at $450,000. With our standard assumptions:Last sale and tax info
- Sold 03/15/2007: $438,500
- 2007 Property Tax: $1,819
$450,000 - 6% - $1,819 - $438,500 = $17,319 loss, or $48 / day of ownership, which, amusingly, is almost exactly what my rent comes out to.
The next person who claims I'm throwing money on rent gets a free, customized public berating on this blog.
Update 4/18/08: This is really bizarre, but not unheard of (the ugly orange triplex right next to farmer's market at 647 Taylor did the same thing a year or two ago, and still hasn't sold; MLS #339308). After not selling for a while, the seller raised the price to $465,000:
ZipRealty Price Track:
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Price Increased: 03/21/08 -- $450,000 to $465,000 |
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And they don't seem to know what price they really want:
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