Can't sell? Raise the price part 2--1192 Park Street, Alameda, CA
You may remember a hapless Victorian on a busy block of Park street nestled amidst such lovely amenities as a party store, a tire store, and a laundromat. It was on the market last spring, for no less than $925,000, and the owner was making a big deal of having spent over $120,000 on renovations. Well, what do you know, it's back as MLS(r) #40376306 for considerably less, $708,500, which is still obscenely high for that poor old wreck in that wretched location.
As much as I love Victorians and want to see them preserved, I'm afraid there isn't much to save here, even though the building itself has appealing specs (except for the tiny lot):
What blows the mind is how one goes from paying $165K for a house in 2005 to what looks a lot like a foreclosure with a loan balance half a million dollars fatter just 2 1/2 years later (Zip Realty confirms this is a foreclosure).
As much as I love Victorians and want to see them preserved, I'm afraid there isn't much to save here, even though the building itself has appealing specs (except for the tiny lot):4 bedrooms, 2 1/2 bathrooms, 2,672 sqft, 3,744-sqft lotThe sale history is edifying: not a single arms-length transaction in the bunch.
[...] As is sale. Upper level,, with hardwood floors [...] Lower level under construction, designed and approved for another 3 bedrooms.1 bath
Sale History 06/03/2008: $644,100 * 12/07/2005: $163,000 * 04/18/2003: $112,000 * No other sale data is available
What blows the mind is how one goes from paying $165K for a house in 2005 to what looks a lot like a foreclosure with a loan balance half a million dollars fatter just 2 1/2 years later (Zip Realty confirms this is a foreclosure).
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