EZ 4clozhur--2253 Clinton Avenue, Alameda, CA
WTF is up w/ those abbrev. posts on MLS(r) sites? Today's listing has "ez acces to parks."
I remember seeing this mini Vic on the market not that long ago, and indeed it has sold twice over the past 3 1/2 years, not counting its latest run-in with the bank (data courtesy of the excellent Bay Area Sold Homes site):
The earlier transaction made the agent proud:
We sold it for way over asking! Yay us! Of course that was the responsible thing to do, since $475,000 for 888 sqft (a mere $535 / sqft) is such an incredible deal. Things had turned sour a couple of years later, as the property sold for $525,000 (a steal at $591 / sqft) after being listed for $549,000 in late 2006; it didn't sell until August, 2007 (my emphasis):
And now, guess what, we're in foreclosure (screenshot edited for size; removed one panel). It sure didn't take long.
Darwin: 1, dumb homebuyers: 0.
Now we're down to $311 / sqft, which is still on the high side, but considerably more reasonable. Expect a bidding war and a quick sale over asking for this widdle guy.
Oh, and those other handkerchiefs on Lincoln struggling in the $400k-$500k range? They're toast with a new comp like this.
This is an excellent development. Watch for more of these in the scary upcoming holiday season.
Update 12/11/08: Sold for $400,000.
Excellent Home buying opportunity [...] Adorable 1 bed and 1 bath fully detach victorian nestled on a traquil tree line st with ez acces to parks, [...] one of the LOWEST priced homes is Alameda and a great condo alternative on a Huge lot.This abbreviated listing is for an abbreviated home with the following abbreviated specs:
1 bedroom, 1 bathroom, 888 sqft, 3,750-sqft lot, $276,500, MLS(r) #40368605 and #346373
(map)
I remember seeing this mini Vic on the market not that long ago, and indeed it has sold twice over the past 3 1/2 years, not counting its latest run-in with the bank (data courtesy of the excellent Bay Area Sold Homes site):
08/12/2007 | 2253 Clinton Avenue | $525,000 | 1 | 888 | 1895 | Alameda | 94501 |
05/29/2005 | 2253 Clinton Avenue | $475,000 | 1 | 888 | 1995 | Alameda | 94501 |
We sold it for way over asking! Yay us! Of course that was the responsible thing to do, since $475,000 for 888 sqft (a mere $535 / sqft) is such an incredible deal. Things had turned sour a couple of years later, as the property sold for $525,000 (a steal at $591 / sqft) after being listed for $549,000 in late 2006; it didn't sell until August, 2007 (my emphasis):Open Homes for the Weekend of Oct. 7 and 8, 2006
Information on open homes listed below was gathered by the Alameda Sun for the purposes of providing prospective real estate buyers a place to start their search. The Sun does not guarantee the accuracy, timeliness or completeness of the information. To list your property on this page or www.alamedasun.com, call 263-1472.
1437 Morton St. $259,000 Sunday 2-4 1433 Morton St. “B” $315,000 Sunday 2-4 955 Shore Point Court #212 $325,000 Sunday 2-4 2133 Santa Clara Ave. #212 $398,000 Sunday 2-4 1533 Pacific Ave. $450,000 Sunday 2-4 2137 Otis Drive #209 $475,000 Sunday 2-4 1816 Chestnut St. $495,000 Sunday 2-4 1033 Verdemar Drive $520,000 Sunday 1:30-4:30 1033 Verdemar Drive $520,000 Saturday 1:30-4:30 2253 Clinton Ave. $549,000 Sunday 2-4
And now, guess what, we're in foreclosure (screenshot edited for size; removed one panel). It sure didn't take long.
Darwin: 1, dumb homebuyers: 0.Now we're down to $311 / sqft, which is still on the high side, but considerably more reasonable. Expect a bidding war and a quick sale over asking for this widdle guy.
Oh, and those other handkerchiefs on Lincoln struggling in the $400k-$500k range? They're toast with a new comp like this.
This is an excellent development. Watch for more of these in the scary upcoming holiday season.
Update 12/11/08: Sold for $400,000.
See, there's just no winning with househeads.
They tell you housing only goes up, and you're an idiot for not being a debtslave. "Where are your numbers?" they accuse.
And then when you document with proof that people are losing money, they then accuse you are "Perusing another person's misfortune" and wish bad karma on you.
There were no "unpredictable" bad events that happened to anyone of these. We saw it all coming back in 2002 in fact.
Trying to save people money and keep them from going into foreclosure and bankruptcy by showing what have become very, very common financial errors that have put hundreds of thousands into foreclosure nationwide?
Seems to me like a valuable public service to me.
Thanks, Scott and Mark. One does what one can.
What do you think this house will sell for?
I'd be really surprised if it sells for less than $300K, frankly. Another small house nearby on Park sold for somewhere in the $500K range just a couple of months ago.
Edvard, you may not realize everybody is paying other people's mortgages these days, what with the Bear Stearns and Fannie/Freddie bailouts. So you might as well save money by renting.
I enjoy reading this blog for people's insights on specific properties and the housing market in general. Can we please stop all personal attacks and name-calling? Everyone is free to express his/her opinion on the topic at hand. One may disagree with someone else's opinion, but please do so with courtesy and integrity.