Come see--2017 Lincoln Ave, Alameda, CA
This cute blue property at 2017 Lincoln has been on the market for ages, but I missed its débutante ball in mid-May and didn't write about it then. Poking around on Zip Realty, its scarlet "Short Sale" badge drew me in, so here goes.
Here's a family portrait of our fully-loaded property standing next to its older sibling:
It's reasonably sized and at $388 / sqft not grotesquely overpriced compared to other listings on the market (note that I didn't say it was reasonably priced). Its price was dropped to $560,000 from $649,000 back in early August, and it's still sitting around waiting for a buyer. I don't know when it became an official short sale, but $560,000 is 11% more than the previous sale price, which suggests the loan balance has grown either due to a gnarly negative-amortization mortgage with very low pick-a-payments and/or a HELOC gone wild.
3 bedrooms, 1 1/2 bathrooms, 1,443 sqft, 5,320-sqft lot, MLS(r) #40344005, $560,000(Never mind that some people can't stroll.)
Come see this home. Fully loaded with [...] located within a stroll's distance to park street alameda theatre!!!
Here's a family portrait of our fully-loaded property standing next to its older sibling:
It's reasonably sized and at $388 / sqft not grotesquely overpriced compared to other listings on the market (note that I didn't say it was reasonably priced). Its price was dropped to $560,000 from $649,000 back in early August, and it's still sitting around waiting for a buyer. I don't know when it became an official short sale, but $560,000 is 11% more than the previous sale price, which suggests the loan balance has grown either due to a gnarly negative-amortization mortgage with very low pick-a-payments and/or a HELOC gone wild. The property appears to be very close to its neighbors, in spite of a large-ish lot, and right across the street from something that looks like a high school, so the location is less than ideal if you value peace and quiet, but then again if that's the case you're probably not shopping on Lincoln anyway. The location + short sale + left on the shelf + economy + holiday season combo puts the odds of a quick sale pretty close to nil.Last sale and tax info
- Sold 10/29/2004: $509,000
- 2008 Property Tax: $6,77
So here is the deal on this one....they re-did the kitchen and it looks great....it also appears to have been done without permits....if that weren't enough....it also looks as if all of the electrical was re-done.....also without permits. The walls in the main room are warped and all of the windows appear to be original to the house (read- you can hear absolutely everything on the street - including when the elementary school lets out).
The lot is large for A-town, but the neighbors were loud when I went to see the place...
Thanks for the information, this is great!