Brand loyalty--826 Oak Street, Alameda, CA
Owners who take good care of their property should be commended. A house requires upkeep, and better materials usually mean the maintenance or upgrade will last longer.
That said, some listings look like that million-dollar home page from a few years ago.
That said, some listings look like that million-dollar home page from a few years ago.
Traditional 3 bedrm 2 bath home. Gourmet kitchen w/Viking Stove, Bosch DW, copper plumbing, updated electrica svcl , dual pane windows, sewer lat done, bolted & seismic retrofitted foundation, landscaped front & bckyrd w/auto sprinklers; County rec show 1.5 bath, but 2nd bath added with permit.(826 Oak Street, MLS #40345819)
The house looks nice enough, and it evidently has gobs of desirable high-end kitchen thingamajigs. What puzzles me is why those thingamajigs are listed FIRST, before all the other improvements (the ones that actually matter): foundation, sewer lateral, windows, electrical and plumbing. I guess the vanity of a "gourmet kitchen" takes precedence over having a house that doesn't fall down the next time a big earthquake hits.
All that work costs money, and it seems the sellers are trying to get it back. The house is listed for $775,000 four years after it sold for $545,000:
All that work costs money, and it seems the sellers are trying to get it back. The house is listed for $775,000 four years after it sold for $545,000:
That's a 9.25% annualized appreciation rate, and given the current market conditions, I don't see how the sellers will get that much, regardless of how much their improvements cost.Last sale and tax info
- Sold 06/16/2004: $545,000
- 2007 Property Tax: $7,139
Miscellaneous