For a limited time--1531 Morton Street, Alameda, CA
I didn't write about 1531 Morton when it came on the market last Spring, but it's been taunting me for a while. Yesterday's silly Craigslist post pushed me over the edge, so here's a little writeup.
Once upon a time, in 2006, somebody bought a big house on at 1531 Morton Street for $550,000 (Zillow used to show this information, but either they lost it or someone asked them to hide it, because I can't find it anymore). I don't know what shape it was in, but the county records at the time described it as follows:
Over the next two or three years, somebody apparently did lots and lots of work on the house, raising its square footage to 3,720 sqft and adding one bathroom (per Zillow). And because all that hard work shouldn't go unpunished, they listed it in Spring 2009 for well over twice what they paid for it. I don't quite remember what the initial price was, but it's been spotted at $1,169,000 and $1,125,000.
Evidently frustrated that the house didn't sell, somebody yanked it off the MLS(r):
... and proceeded to handle the transaction themselves. It resurfaced as a FSBO on Craigslist yesterday (emphasis mine) for $1,099,000:
And you can imagine where grumpy ol' L. wasn't going to let them get away with this.
Once upon a time, in 2006, somebody bought a big house on at 1531 Morton Street for $550,000 (Zillow used to show this information, but either they lost it or someone asked them to hide it, because I can't find it anymore). I don't know what shape it was in, but the county records at the time described it as follows:
4 bedrooms, 1 ½ bathrooms, 2,662 sqft ($207 / sqft)
Over the next two or three years, somebody apparently did lots and lots of work on the house, raising its square footage to 3,720 sqft and adding one bathroom (per Zillow). And because all that hard work shouldn't go unpunished, they listed it in Spring 2009 for well over twice what they paid for it. I don't quite remember what the initial price was, but it's been spotted at $1,169,000 and $1,125,000.Evidently frustrated that the house didn't sell, somebody yanked it off the MLS(r): ... and proceeded to handle the transaction themselves. It resurfaced as a FSBO on Craigslist yesterday (emphasis mine) for $1,099,000:Exquisitely Remodeled 2,700 sf - 4 Bdrm + 1,200 sf Home Office (alameda)
Date: 2009-08-24, 11:48PM PDT
Reply to: (redacted)
For sale by Owner - Major Price Reduction. Currently offered at $ 1,099,000 for a limited time.
Elegantly remodeled, Pitched Gable Colonial Revival home. 4 Bedrooms, 2 1/2 Bathrooms.
Immaculate restoration includes electrical upgrade, new copper water lines, new dual zone heating system, cork floors at kitchen, wool carpet at bedrooms and fully restored, beautiful oak wood floors.
Designer kitchen equipped with brand new professional applicances and an island with sink.
A delightful deck, located off the kitchen, provides and ideal gathering place for meals and relaxation and overlooks a garden and fountain.
High coved ceilings, an abundance of natural light, spacious living room with bay window and fireplace.
Large, inviting formal dining room with built-ins and another fireplace.
Approximately 2,700 square feet with an additional 1,200 square feet multi-purpose ground floor space ideal for office/game room/family room.
Next to Alameda's Gold Coast neighborhood, in close proximity to parks, markets, shops, restaurants, beaches.
Safe, community living with high performance schools and only 25 minutes away from SF with a beautiful Ferry ride.
Please Call Bud at 510.xxx.xxxx or Sinan at 510.xxx.xxxx to schedule an appointment to view the property or send an e-mail to xxxxxxxx@aol.com
Seller does not warrant nor assume responsibility for the accuracy of square footage or other information provided by Seller or obtained from public records or other sources. Buyer should verify all information through appropriate professional and personal inspections.
And you can imagine where grumpy ol' L. wasn't going to let them get away with this.- How is $1,099,000 a "major price reduction" from $1,125,000? That's 2.3% off, which is less than the seller's agent commission the sellers stand to save by going FSBO.
- What exactly does "for a limited time" mean? Is the seller going to raise the price if it doesn't sell? Or are you actually threatening to take the house off the market and deny Alameda the favor you spent 3 years working on doing our little town?
- If 1531 Morton is "next to the Gold Coast" then everything is next to the Gold Coast. Have some dignity.
- Did you really have to trick out your kitchen with the stone countertops and the extra island sink?
- What economic indicators suggest a 100% markup on a 2006 purchase price is actually realistic?
- Have you looked at how the comps have been doing lately?
Update 8/28/09: Chez Neumansky has some interesting information. In particular, I had no idea 1533 Morton, the "first green infill", was on the same lot right behind this house.
Update 8/29/09: Reader C.F. sent me the following photos of 1531 Morton (thanks!). 1533 Morton is highlighted, as is the sign pointing passers-by to it. After all, when walking around a neighborhood looking for 1533, behind 1531 isn't exactly the most obvious place to look.
Update 8/29/09: Reader C.F. sent me the following photos of 1531 Morton (thanks!). 1533 Morton is highlighted, as is the sign pointing passers-by to it. After all, when walking around a neighborhood looking for 1533, behind 1531 isn't exactly the most obvious place to look.
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