Perrier Jouett--5 Jouett Square, Alameda, CA
This new McMansion on Jouett Sq (where the heck is that?) just showed up today (MLS #40349789):
The asking price is $899,999, which seems low enough considering the house is 2805 sqft (i.e. $320 / sqft), although the whole 1-dollar-below-$900K is silly and cuts out buyers who search for homes starting at $900K, but agents never learn, and besides there can't be that many folks in Alameda whose starting price is $900K. But the best part is the home's sale history:
Update 9/7/08: Back/still on the market as MLS(r) #40367782 for $839,999.
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Beautiful three year young home. 4bedrooms, 3 bathhs and an office downstairs!Lots of upgrades. custom tiled foyer, custom draperies. gourment kitchen , island with custom granite countertop, stainless steel appliances, and custom cabinets. professional landscaped backyard. Tons of upgrades.That sounds really nice. The outside, however, remains a mystery, and there are only pictures of the interior, such as this:
The asking price is $899,999, which seems low enough considering the house is 2805 sqft (i.e. $320 / sqft), although the whole 1-dollar-below-$900K is silly and cuts out buyers who search for homes starting at $900K, but agents never learn, and besides there can't be that many folks in Alameda whose starting price is $900K. But the best part is the home's sale history:Assuming 20% down and a 7% fixed-rate mortgage for $720,000, we're talking about $4,800 a month in mortgage + $1,000 in property tax, $119 for your friendly neighborhood HOA, and another $750 for maintenance (1% of the home price), i.e. $6,869 a month just to service your house. This means your buyers need to have a gross income of $247,000 a year (based on gross income = 3x housing costs). Given these census facts, your pool of buyers is somewhat limited, even before you consider how hard it is to get financing these days. Good luck (not).Last sale and tax info
- Sold 11/14/2006: $925,500
- 2007 Property Tax: $12,274
INCOME IN 1999 |
|
|
Households |
25,078 |
100.0 |
Less than $10,000 |
1,586 |
6.3 |
$10,000 to $14,999 |
1,072 |
4.3 |
$15,000 to $24,999 |
2,464 |
9.8 |
$25,000 to $34,999 |
2,986 |
11.9 |
$35,000 to $49,999 |
3,800 |
15.2 |
$50,000 to $74,999 |
5,244 |
20.9 |
$75,000 to $99,999 |
3,349 |
13.4 |
$100,000 to $149,999 |
2,977 |
11.9 |
$150,000 to $199,999 |
907 |
3.6 |
$200,000 or more |
693 |
2.8 |
Median household income (dollars) |
51,896 |
(X) |
Update 9/7/08: Back/still on the market as MLS(r) #40367782 for $839,999.
Announcement: read about EBRD, Inc.'s DMCA content removal complaint against this blog
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