WANT--1304 Morton Street, Alameda, CA
Why can't this house come on the market in a year or two, for $500K less?
Location? Check.
Looks? Check.
Maintenance? Check.
Size? Check.
Price? $1,250,000.
Zillow shows the following:
At $1.25M, this means the seller is expecting about 9.9% y-o-y appreciation every year since they purchased the property, which is completely unreasonable. Assuming an appreciation that matches historic trends (i.e. around 5%), today's price should be about $830,000.
Update 4/29/08: This is what it really looks like without Photoshop.
Update 9/5/08: Still on the market at $1,150,000. I wonder if that has anything to do with the price being, you know, too high.
Update 9/12/08: Ditto.
Announcement: read about EBRD, Inc.'s DMCA content removal complaint against this blog
Queen Anne style victorian in desirable Alameda! Upgraded electrical, plumbing,roof,foundation. Spectacular gourmet kitchen remodel with state of the art appliances, wolf stove,sub-zero refrigerator, hidden drawer dishwasher. Custom artisan stained glass windows, hand stenciled, painted walls and ceiling. Truly one of a kind property. One public Open House on Sunday May 4, 2008 from 1-4pm or can be shown by private appt - pre-approved buyers only please-agent debbie 650-619-2790
image from craigslist post, not MLS(r) listing (why the disclaimer?)
Location? Check.
Looks? Check.
Maintenance? Check.
Size? Check.
Price? $1,250,000.
Zillow shows the following:
At $1.25M, this means the seller is expecting about 9.9% y-o-y appreciation every year since they purchased the property, which is completely unreasonable. Assuming an appreciation that matches historic trends (i.e. around 5%), today's price should be about $830,000.
Update 4/29/08: This is what it really looks like without Photoshop.
Update 4/30/08: MLS #40339703
Update 7/7/08: On craigslist with a catchy title. OMG indeed.
$1199000 OMG! rare remodeled victorian! buyer bonus available! (alameda) (map)
Reply to: debbie@debbiewong.com
Date: 2008-07-07, 12:38PM PDT
visit www.1304morton.com for pictures and virtual tour - price reduced by 50K - seller has purchased - seller willing to pay down buyers loan rate or pay 1% of buyer closings costs - this is a rare opportunity to get a victorian in excellent condition - roof and foundation done-home wired for internet-plumbing and electrical upgraded - a must see!
Update 9/5/08: Still on the market at $1,150,000. I wonder if that has anything to do with the price being, you know, too high.
Update 9/12/08: Ditto.
Announcement: read about EBRD, Inc.'s DMCA content removal complaint against this blog
I just have one question. . . Can I keep the furniture?!?!?!??!
Wow.
I think they're having an open house this weekend.
Yes, I think I read something about that on CL. I'll most likely go. Anyone going? We could have a knifecatchers party.