If you can get the financing--601 Fortress Isle, Alameda, CA

You may remember 601 Fortress Isle, a lagoon-side rancher that was in deep trouble last Spring. To refresh your memory:

3 bedrooms, 2 bathrooms, 1,940 sqft, 7,452-sqft lot

Photo from Zillow, resized down, fair use; not EBRD-copyrighted as far as I know
It was purchased for $925,000 in April, 2006, and went back to the bank last year:

Sale History
10/14/2008: $652,500 *
04/06/2006: $925,000
Well, it's back, and not yet on the MLS. Better act fast, says the agent:


*Not yet on MLS* Alameda Foreclosed Dream Home Available

Location: South Shore
GET IT BEFORE A REALTOR DOES, STAY AHEAD OF THE GAME WITH THIS BANK OWNED PROPERTY near the water!Ready to move in with waterside access. Great for summer entertaining as well as winter fireside relaxation! A real steal and if you can get the financing then I highly recommend this property!

*Due to this bank owned property being so new, please call for most updated details as the pictures and information below may be out of date*

My favorite part is "if you can get the financing then I highly recommend this property!" It makes me wonder if the agent is consciously trying a new approach, the friendly-advice sales tactic (as opposed to the "buy now or be priced out forever" mouth-breather hard sell), or if he's just new.

I wouldn't mind if a Realtor(tm) did get this property. Chances are they would probably lose it pretty quick, since $680,000 isn't a walk-in-the-park mortgage payment and Realtor(tm) incomes haven't exactly been going up, That would in turn provide me with more material for the next couple of years. Everybody wins.
Update 1/13/09: There's a feeding frenzy of classless agents around this property.

You can't pass this house up, It is located on a corner lot in a court. The back yard has a patio and access to the water. Close to shopping and close to Alameda Beach. Your welcome to make an offer, You know what it's worth.
pictures are dated back 11/23/2005
I wonder what the house really looks like now--it was nice enough in the 2005 pictures, but foreclosures have a way of going to pot.

Update 1/17/09: I don't know what's going on with this house--here's a third agent with his name on it.

Update 1/19/09: Yet another agent, and a different price ($745,000) and amusingly worded false advertising--"overlooking with the ocean!!!!!". Agents, do everyone a favor and check your facts, ok?

Update 1/20/09: And another. What is going on here? These all seem to be out-of-town agents who have no idea what Alameda is like--the previous listing touted the ocean view, and this one mentions a lake.

601-fortress-lake.jpgAnother mind-bender is the claim that "Previous owners spent well over $120,000 in upgrades. The floors, the kitchen, the lights, the countertops, the bathrooms are all spanking new." That's over and above the $925,000 the owners paid, mind you. And this: "We are getting tons of calls on this one, even while it's being cleaned up." What exactly needs to be cleaned up? Did the owners go ballistic and blow the inside away?

Update 1/31/09: The morons Realtors in charge of this listing are pulling the old "reviewing offers today" trick. I have an offer for you, but I'd have to wash my own mouth with soap if I published it here, and since I just did some serious house cleaning I'm not in the mood for more, so I'll refrain.

Update 3/20/09: It seems none of the multiple offers was good enough. Back on the market.

About this Entry

This page contains a single entry by L. Opine published on January 11, 2009 8:36 PM.

Nearly full legal--3221 Encinal Ave, Alameda, CA was the previous entry in this blog.

How many real estate agents can Alameda sustain? is the next entry in this blog.

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