Craftsman death match--3215 Fairview Ave v. 1371 Pearl St, Alameda, CA
I don't know if someone actually did to a decent CMA, or if the market beat the astronomical odds of having two sellers with a clue list their homes the same week, but we have ourselves an interesting battle of the Craftsman homes brewing.
To my left, the incumbent, listed on 9/19/08, is 1371 Pearl Street, a large Craftsman with the following specs:
To my right is 3215 Fairview Avenue, a far-East-End Craftsman with the following specs:
I don't know which one will sell first, but they're certainly priced somewhat reasonably for this market ($354 / sqft and $360 / sqft, respectively), and directly in competition with one another. My guess would be that Fairview will sell for more money and/or sooner, because of its location.
What is certain is that the fixers in the neighborhood are in for a serious reality check.
To my left, the incumbent, listed on 9/19/08, is 1371 Pearl Street, a large Craftsman with the following specs:
3 bedrooms, 1 1/2 bathrooms, 1,691 sqft, 4,920-sqft lot, finished basement(!), MLS(r) #40370464, $599,000No sale history on Zillow and a very low property tax for 2007 suggest it's been owned for a long time.
Charming [...] East End. Large living room [...] brick fireplace box beamed ceiling's and inlaid hardwood floors. [...] finished basement perfect for office [...] Deck off master bedroom [...]
To my right is 3215 Fairview Avenue, a far-East-End Craftsman with the following specs:
3 bedrooms, 2 bathrooms, 1,665 sqft, approx. 4,790-sqft lot, split level, MLS(r) #40371023, $599,000The sale history is somewhat recent, but suggests the owner has maneuvering room:
[...] craftsman [...] one of Alameda's most sought after neighborhood
Pearl has a basement and seems to be in beautiful condition judging by the photos on the property site. Fairview has the extreme East End appeal that makes people lose their minds and overbid like crazy.Last sale and tax info
- Sold 02/22/2001: $400,000
- 2007 Property Tax: $5,882
I don't know which one will sell first, but they're certainly priced somewhat reasonably for this market ($354 / sqft and $360 / sqft, respectively), and directly in competition with one another. My guess would be that Fairview will sell for more money and/or sooner, because of its location.
What is certain is that the fixers in the neighborhood are in for a serious reality check.
1371 Pearl is so not what it's cracked up to be. The first two rooms (living and dining) are typical beautiful and were untouched by owners. The rest of the house is a crazy mish mash of nothing-ness. A master bedroom was added to the back of the house but you have to walk through a laundry room to get to it. It has a finished basement that is entered by going outside the house but it's strangely has a gate INSIDE it as though they were trying to keep small children in...
It has no garage and not even a driveway which is unusual for that end of the n'hood. It also has a large portion of the curb in front of it painted red which is even stranger and more constrictive. It had quite the showing on Sunday but I think people were fairly confused by it, as I was. Back yard awesome and big but large deck that is so termite ridden I would have been reluctant to let those coming through the open house step on it.
Nothing to say it doesn't go pending quickly though... Going and visiting it explained the under $600k price.
1371 Pearl has approx. 20k on the pest and an extremely outdated kitchen with one tiny little counter. The biggest concern I had is the fact that there is a large apartment complex directly behind and several more on that block. With no garage and no driveway parking could be a nightmare.
I agree completely with KCG's comments about the crazy mish mash of nothing-ness which for me included the back yard. The main bathroom was odd too in that the toilet faced the shower.
Thanks for the info! I was thinking of checking it out, because the pictures were attractive, but I think I'll pass.
KCG hit the mark. This property is strangely configured, with a master bedroom stuck on the back of the house using sub-bar construction and materials. The kitchen is a mess. The backyard is only large because there's no garage taking up space. In this market it needs to be priced below $550K.
You know it's difficult to see what is the value of real estate agent given that buyers (smart ones anyway) are too savvy and do their own home work and share information. I anticipate the change in real estate agent's commission rate in the near future. Having bought three of our homes on our own, and seeing site like this this flourishes, I couldn't help but wonder if real estate agent could become the next dying profession (like the car sales people). Those who use internet and shop for the best rate know what I'm talking about.
I also learned that this property has an old brick foundation, which needs to be completely replaced. No, thank you!
Brick foundation? No good. Which of the two has one?
1371 Pearl has a brick foundation. Who can spend over half a mil on a house that needs that much money just to make the foundation safe?