There goes nothing--517 Taylor Avenue, Alameda, CA
A little bird told me the new listing at 517 Taylor, a West-End bungalow on a stretch of tightly huddled-up homes, might be a foreclosure (MLS(r) #40368965). The specs are bleh:
It's a large home for a 2+1 floor plan, but the lot is small (most of them are on that block of Taylor), so $349 / sqft is a bit high, especially considering the last sale amount (presumably the balance of the loan in default that's being foreclosed upon):
2 bedrooms, 1 bathroom, 1,615 sqft, 3,772-sqft lot, $563,900
(no description as of 9/12/08)
(view map)
It's a large home for a 2+1 floor plan, but the lot is small (most of them are on that block of Taylor), so $349 / sqft is a bit high, especially considering the last sale amount (presumably the balance of the loan in default that's being foreclosed upon):
I didn't find any other sale information anywhere. What I did find is that 517 Taylor is or was the address for a flooring business--I doubt the warehouse was there, so it was probably a home-office/administrative address sort of thing.
Historical home sale price (1): $324,350 Prior sale date: Jul 31, 2008
I get the feeling this will be priced around $499,000 before you know it.
West Side Flooring
517 Taylor Ave
Alameda, CA 94501
Contact West Side Flooring
Phone: (510) 865-6510
Business Profile for West Side Flooring
Services: Floors, Flooring & Flooring Contractors
It is a foreclosure. 1st bought it for 324,350k
The loan was with New Century originally, now the bank is bankrupt,
second loan of 200k totally wiped out wiped out.
Looks like it was a gift back in 1998 with a loan of 198,750k
Refi over and over again, last at 472K then took 200k second.
So 672k was taken out of this home. I see this in house after house, this one is pretty tame. Everyone wanted to get paid upfront
and then they just walkaway.
No wonder our country is on financial life support.
This is awesome information. Thanks for sharing. That's a lot of money to take out of a house that was never worth that much to begin with. Who approves those refi loans?!?
They're actually stating it's a 3/2 in the listing but there is only two pictures so it's hard to know. Public records state otherwise.