The mighty have fallen--6 Callan Place, Alameda, CA
A huge modern Craftsman revival with Bay views has been on the market for a while, and today it has reminded us of its latest big price drop. 6 Callan Place has caved (MLS(r) #338507 or #40327569). First, the outsized specs:
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4 bedrooms, 3 1/2 bathrooms, 2 stories, 4,695 sqft (or 4,536, depending on the MLS(r) number), approx. 5,749-sqft lot, $2,095,000, on the market for 6 months as of 8/31/08The price has already been dropped multiple times and add up to $533,000):$2095000 Over $500k in reductions for this San Francisco bay and downtown view! (alameda)
Reply to: hous-821786147@craigslist.org [?]
Date: 2008-08-31, 11:36PM PDT
Principles only, no agents, e-mail for a private tour of the special property.
Custom-built Craftsman with well over 4600 sq feet +/- reduced from the over $2.6 Million dollar price tag makes this your dream come true! Make us of a slow sellers market and sell when the tables turn!
$2,628,000 to $2,490,000 in late April, 2008"No agents"--could the seller be going FSBO? They might need all the commission-cutting they can get given the sale history:
$2,490,000 to $2,295,000 in mid July, 2008
$2,295,000 to $2,095,000 in late August, 2008
6% of $2,095,000 is a substantial $125,700, so they'd net $1,969,300. That's not a heck of a lot more than the last purchase price, but still respectable. And even if they have to drop the price again and lose money on the transaction, I doubt it'll be an amount someone who lives in a $2M house really cares about.Last sale and tax info
- Sold 06/22/2004: $1,900,000
- 2007 Property Tax: $22,954
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Look back just a couple of months and you will see this property was listed through Southerby's (sp?) @ $3.2 million.....
Wow, that's crazy. Since this house sold for $1.9M in 2004 (an overheated market), its value is certainly less than that today, so even the current price is way too high.
I saw this house on an open house about six months ago. It's a lovely house, but VERY dark inside and really small bedrooms for such a large house. The floor plan is also very custom/odd. Also, there isn't any yard to speak of. Probably why it's been on the market for a year. It should probably be priced around $1.5M.
House next door is now for sale at aroung $2,000,000. Much nicer floor plan, but theyonly paid about $900,000. 10 years ago, so they expect a $100,000. profit each year, for 10 years. Seller already bought another home in Monterey (must be nice), so they may drop this to a more realistic $1.5MM.
Any knife catcher want to take a chance??