WPA--2448 Roosevelt Drive, Alameda, CA
It's been a while since we featured an honest-to-goodness bought-at-the-peak-now-what property, and I was getting worried the market was actually going to drown in non-distressed sales, which are a lot less interesting. But 2448 Roosevelt restored my faith in the market's ongoing collapse. The specs:
Update 9/29/09: Sold for $575,000 on 9/1/09.
2 bedrooms, 1.5 bathrooms, 1,385 sqft, 3,800-sqft lot, MLS(r) #40408203, $660,000I don't know about you, but the house I've been waiting for sits on a little more than 3,800 sqft of land, and it's also not $476 / sqft. Some folks need to realize their house isn't actually worth what they paid for it in 2006, not now, not then, not ever.
This is the home you have been waiting for. [...] Close to beach, South shore shopping, transportation and park. Large living room has beamed ceilings, french doors to outside patio and private backyard. New windows, upgraded electrical.
Drop it to $525,000 and it'll sell in a day. Keep it at $660,000 and watch the selling season fade away as you keep paying your oversize mortgage for another year. Or not.Last sale and tax info
- Sold 09/27/2006: $645,000
- 2008 Property Tax: $8,060
Update 9/29/09: Sold for $575,000 on 9/1/09.
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