Picutesque--3259 Sterling Avenue, Alameda, CA

Another adorable bungalow on Bungalow Boulevard! It feels like the whole adorable street is being sold off this year. This little guy at 3259 Sterling has the following publicly-available specs (MLS(r) #40366431; no link until EBRD issues are resolved):

2 bedrooms, 1 bathroom, 1,073 sqft, 3,422 sqft lot, $562,000

Adorable bungalow on picutesque Sterling Ave. [...] Craftsman with tons of original detail [...] Updated kitchen and bath, [...] Perfect location on cozy street [...]

Now the street is "picutesque." That must mean "so cute you are compelled to take photos." But at least they didn't use the word "sweet."

At $562,000, it's right in the middle of the other two bungalows on Sterling, but it's quite a bit smaller (the other two are both 1,194 sqft, or 10% larger), and at $524 / sqft it's just way too expensive. I would personally price it at $499,000 and sell it in one weekend, but then, I'm not the owner. Neither would I buy it, even at that price, but that's beside the point--it's just overpriced by about $120 / sqft. Drop it to $440,000 and you might just get rid of it.

Nothing special about its sale history:

Last sale and tax info

Sold 12/24/2001: $384,000

2007 Property Tax: $5,512

My main beef (other than the amount itself) is that the $562,000 price means a 7% y-o-y appreciation, and that's just greedy. You should have sold it 2 years ago.

Update 11/7/08: Sold for $570,000.



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