Remodeled appliances--1726 Eagle Ave, Alameda, CA
An aggressively-priced bungalow just appeared on the market this week. 1726 Eagle Avenue has the following specs:
But if the house was sold for $237,000 in 1991 (the $9,000 transaction in 1998 is likely a non-arms-length transfer between relatives, although I don't know that for a fact), and if the July 17, 2009 transaction is what it looks like, i.e. a bank taking the house back, how exactly does one justify adding on so much to the loan balance that one winds up losing a house that should be 2/3 paid off?
3 bedrooms, 2 bathrooms, 1,491 sqft, 3,750-sqft lot, MLS(r) #40434309, $381,200The aggressive, non-round asking price suggests a bank is likely involved in the transaction on the sell side, which is supported by the recent history:
Granite kitchen with all appliances all remodeled. Laminated floors, painted, new bathrooms. There are new double pane windows. There is also a separate non conforming unit with separate entrance in the rear.
Property History for 1726 EAGLE Ave
| Date | Event | Price | Appreciation | Source |
|---|---|---|---|---|
| Oct 16, 2009 | Listed | $381,200 | -- | EBRD #40434309 |
| Jul 17, 2009 | Sold | $592,285 | 45.3%/yr | Public Records |
| May 06, 1998 | Sold | $9,000 | -39.4%/yr | Public Records |
| Oct 28, 1991 | Sold | $237,000 | 11.5%/yr | Public Records |
| Apr 21, 1989 | Sold | $180,000 | -- | Public Records |
But if the house was sold for $237,000 in 1991 (the $9,000 transaction in 1998 is likely a non-arms-length transfer between relatives, although I don't know that for a fact), and if the July 17, 2009 transaction is what it looks like, i.e. a bank taking the house back, how exactly does one justify adding on so much to the loan balance that one winds up losing a house that should be 2/3 paid off?
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