Fifth time's the charm--214 Pacific Avenue, Alameda, CA
This unassuming rancher at 214 Pacific just came on the market today, listed at $464,900 (MLS #40349348):
The funny-looking price suggests a bank sale, and sure enough:
Update 10/5/08: Sold for $466,500.
WONDERFUL RANCH STYLE HOME,COZY LIVING ROOM W/FIREPLACE,GOURMET KITCHEN W/BREAKFAST NOOK,SPACIOUS BEDROOMS,PRIVATE BACKYARD WITH PATIO,CLOSE TO SCHOOLS,PARKS,AND SHOPPING
The funny-looking price suggests a bank sale, and sure enough:
Interesting how the not-included-in-Zestimate $519,164 looks a lot like 80% of $620,000, aka the 80 part of an 80/20 financing scheme. I wonder if there was ever a group of lenders that overwhelmingly specialized in the 20 part, for the juicier interest rates on them cute little piggyback loans. If so, they must be doing spectacularly well these days, seeing as the main lender gets first dibs when a repossessed home sells, and repossessed homes seem to be hitting the market at around 80% of the previous sale price.
Sale History 01/17/2008: $519,164 * 10/28/2005: $620,000 08/24/2000: $337,500 07/11/1997: $170,000
Update 10/5/08: Sold for $466,500.
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