Off the deep end--3231 Fernside Blvd, Alameda, CA
Fernside strikes again with another obscenely overpriced property, represented by an agent who really should know better. 3231 Fernside Blvd just appeared (MLS(r) #40378008) with the grotesquely inflated list price of $939,000:
(listing) 3 bedrooms, 2 bathrooms, approx. 5,200-sqft lot, $939,000
(public records) 2 bedrooms, 2 bathrooms, 1,472 sqft, 5,376-sqft lot
40' Deep Water Dock. [...] 3 plus bedroom home with water view and access [...] Lots of charm with up-dated kitchen, baths, newer windows and newer roof. [...]
Even if there is a third bedroom and an additional, say, 175 sqft, not reflected in the public records, we're talking about $570-$630 / sqft.
There seem to be two houses sharing the 3231 number: this property and 3231A, which is home to a communications consultancy (another East End home-based business). Interestingly, though, both 3231 and 3231A have recent, overpriced sale histories. Our property was sold in late 2003, and its neighbor was sold in June 2004, both well north of $600,000.
Update 1/03/09: Surprise, the price has dropped to $899,000. Not enough, but it's a start. I must say it looks fabulous, except for the bedrooms, but that's mostly furniture and decoration.
There seem to be two houses sharing the 3231 number: this property and 3231A, which is home to a communications consultancy (another East End home-based business). Interestingly, though, both 3231 and 3231A have recent, overpriced sale histories. Our property was sold in late 2003, and its neighbor was sold in June 2004, both well north of $600,000.
3231 Fernside (this property):What annoys me most about this idiotic price is that it's almost guaranteed to find a greater fool with a greater wallet willing to pay that much for 1,500 sqft on the water. But who knows--a combination of colder temperatures, a massive credit crisis, and the slow year-end real estate season might bring this property down to earth come January.3231A Fernside (the telecoms neighbor):
- Sold 12/02/2003: $690,000
- 2007 Property Tax: $8,911
- Sold 06/29/2004: $649,000
- 2007 Property Tax: $8,470
Update 1/03/09: Surprise, the price has dropped to $899,000. Not enough, but it's a start. I must say it looks fabulous, except for the bedrooms, but that's mostly furniture and decoration.
From what I hear, there are so many people out of their homes and into boats selling for as little as $3,000 (there's a boat glut), all marinas in the bay are at their full capacity of residents.
Maybe the dock could be rented out for $200-300 a month additional income to another resident.
Seriously? People who lose their homes are moving into boats? That's just outstanding.