I deliberately ignored this property when it first came on the market because, frankly, 94502 condos interest me about as much as pork futures, but in the interest of comprehensiveness, here is 22 Rutland Court, a "sparkling" condo on Bayfarm, with the following specs:

2 bedrooms, 2 1/2 bathrooms, 1,519 sqft, 2,688-sqft lot, 2 stories, 2-car garage, MLS(r) #40350870

Sparkling 2 bedroom, 2.5 bath Bay Colony duet [...] near the Sshoreline, Ferry and recreation. [...] vaulted ceilings and lots of light [...] wood burning fireplace and babmboo floors make this a warm and inviting setting. The eat-in kitchen has access to the garden and rear deck ideal for entertaining. Upstairs has two master suites with tile baths and lots of closet and storeage space. [...] HOA fees are $342 mo.
[...]
bamboo floors
cheery kitchen
[...]
Serene cul-de-sac.

The MLS(r) listings is only slightly different, but obviously composed by the same person:

New Price! Easy to show--bring an offer. [...] bamboo floors, cheery eat-in kitchen, deck and garden area ideal for entertaining. Master suite [...] tiled baths. Garage & washer/dryer. Cul-de-sac near ferry & shoreline

Now, I don't know about you, but the most I'd ever pay for a good-sized 2-story townhome on Bayfarm is probably about $350,000. If that. Especially with the $342 monthly HOA dues. But the sellers are asking a trifle more--$664,700 at last reckoning. It's less than they used to want, back when it was known as MLS(r) #343705 and listed at $679,000 (that's a whopping 2.1% price drop, in case you were wondering).

I was a bit curious about the weirdly shaped new price, so I did some math and found that it's tailored almost exactly so the owners will make back their exact purchase price if the agents split a 5% commission. Imagine that. 

Last sale and tax info

Sold 10/28/2005: $630,000

2008 Property Tax: $9,915

At least the listing suggests the owners had the decency not to pimp out remodel a perfectly fine looking 16-year-old condo with a big HELOC and granite everywhere.

Sparkling or not, though, given the state of the condo market and the massive, massive premium the owners overpaid in 2005, I just don't see them getting out of this with money in the bank.

On yet another one of those misspelled street names in 94502 lies today's short-sale duet, which sports not one but two master bedrooms suites.

2 bedrooms, 2 bathrooms, 1,519 sqft, 2,560-sqft lot, MLS(r) #40385586, $499,000

Two master suites grace this bright and sunny Bay Colony duet [...] Very short distance to the ferry, schools, shopping, [...] walking paths along San Francisco Bay. 

The MLS(r) listing is amusingly worded:

Sunny duet [...] Two master suites and additional ½ bath. [...] This propety has a "long driveway". Vaulted ceilings & lots of windows. Roof two years old. [...]

The "propety" has a "long driveway". Not a long driveway, mind you--a "long driveway". I'm not sure why that would be a selling point, with or without the scare quotes. And even if there were a pool of buyers out there with a "long driveway" fetish, $328 / sqft is on the high side for a duet on such a teeny tiny lot.

Maybe the owners are tired of serving two master bedrooms (although I'm not clear on how both bedrooms in a 2-BR unit can be the master), considering:

Last sale and tax info

Sold 03/25/2005: $650,000

2008 Property Tax: $10,280

Assuming the property does sell for $499,000, and subtracting 6% for agent commissions and the price of a new roof (rounding down to net proceeds of $450,000), we're looking at $200,000 up in smoke in less than 4 years. That's just under what most people take home in solidly middle-class 94502. Well done.

Our old pal Ringo Liu is back on craigslist with a vengeance and a new passel of unsellable overpriced loss leaders. Today's fine specimen is...

2 bedrooms, 2 bathrooms, 1,694 sqft, $740,000

$740000 36 Sea Bridge (alameda) (map)

---

Reply to: toringoliu@aol.com ^[?]
Date: 2008-10-31, 3:05PM PDT


Sunny one level House in great location. Remodeled Kitchen. Updated bath w/ skylight. Elegant Wood floors. 2 patio doors. High catherdal ceiling. Sunnny floor plan with atrium. Cul-de-sac. private backyard w/ hot tub. Spacious front driveway. Steps to lagoon path, school & shopping. No bonds.

You might think $437 / sqft isn't too bad, and it's certainly a bargain compared to two years ago:

Last sale and tax info

Sold 09/08/2006: $842,000

2008 Property Tax: $10,248

You read right, somebody paid almost $500 / sqft for a boring late-1970s rancher in a tightly-packed neighborhood filled with boring 1970s ranchers.

Why Ringo Liu doesn't mention the potentially appealing fact this property is within walking distance from Alameda's giant golf course is a mystery. Maybe people have learned that "near the golf course" also means "near the Oakland airport."

Sometimes it feels as though whoever named the streets in 94502 was mildly dyslexic. They're all sort-of spelled the way you would expect, but with a strategic typo for whimsical effect: Mecartney, Parodi, Bismark, and now Camellia. Today's bank-owned Craigslist listing at 1012 Camellia Drive has the following specs:

3 bedrooms, 2 bathrooms, 1,623 sqft, lot, 5,096-sqft lot, $659,900

$659900 Large 3 bedroom in Bay Farm BANK OWNED (alameda) (map)

---

Reply to: philip@kaakeproperties.com ^[?]
Date: 2008-10-13, 9:19PM PDT

1012 Camellia Way

This home is in need of a little TLC, however it could represent a good value to the right buyer. Close to Harbor Landing shopping center.

I love the non-committal yet threatening "it could represent a good value to the right buyer." I also like the fact it was purchased for a song many years ago yet still managed to be repossessed:

Sale History
01/18/2008:	$551,807 *
10/12/1994:	$63,000
No other sale data is available
* Transaction not included in Zestimate.

I would like it very much if someone could explain to me how you go from a $350 / month mortgage to a loan balance that's almost $490,000 higher in just 14 years and subsequently lose your house.

Is every homeowner a complete imbecile?

Oh, and to the people at the bank: $659,900? For a property that "could represent a good value to the right buyer"? You'd have more success selling whatever you're smoking than selling repossessed homes. Idiots.

Today's craigslist post is a townhouse in an area of 94502 I have never heard of, "Baywood Village," but then I try not to spend too much time over there. The specs:

3 bedrooms, 2 1/2 bathrooms, 1,725 sqft, MLS(r) #40373871, $565,000

This spacious three bedroom, two and a half townhome is located in the Harbor Bay subdivision of Baywood Village. The living room and master suite are large with beamed ceilings and plenty of light coming through the high windows. The kitchen has a breakfast bar with an adjoining family room. There are three outdoor patios to be able to enjoy the greenbelt-like grounds. Check out the walking path along the lagoon. Close to shopping and restaurants with a community swimming pool, this is a very desirable home priced to sell.
(description from vflyer, not an MLS site)

I don't know about "priced to sell"--$328 / sqft for a condo that probably comes with hefty HOA dues (not mentioned in the post) is a bit steep. That said, it's almost back to its 2003 price judging by its sale history:

Last sale and tax info

Sold 08/20/2003: $512,000

2007 Property Tax: $6,832

In fact, it's another one of those listings where the agent's extensive, professional comparative market analysis  curiously came out to the previous price + 6% agent commission + basic maintenance costs over 5 years, almost exactly. Funny how those CMAs work out.

It seems the market has ground to a stop this week, perhaps in reaction to the current crisis on Wall Street. But that hasn't stopped owners on Parfait Lane from advertising their overpriced condos on craigslist.

102 Parfait Lane and 108 Parfait Lane have identical specs:

2 bedrooms, 2 bathrooms, 1,534 sqft, $410 / month HOA dues

Accordingly, they also have near-identical descriptions (and presumably the same amenities for the same $410 / month HOA dues).

102 says "Well-maintained upper unit at Brittany Landing The Bay. Located next to San Francisco Bay there are bay and lagoon walking paths with sweeping San Francisco views. The Harbor Bay Fitness Club is a short walk and Brittany Landing has a lovely pool and hot tub. Spacious open rooms with vaulted ceilings and a balcony off the master bedroom are just a few of its special features"

108 says "beautiful 2 bedroom 2 bathroom condo in brittany landing at the bay in harbor bay, alameda. 1534 sq. ft. newer hardwood floors in entry, kitchen and hallway. gated community with 24 hr. security. swimming pool and spa. carefree living in alameda. available for viewing by appointment only. monday thru friday 9am to 4pm. no weekend viewing. call Ron Palmer at 510-735-4753 for your own personal tour. Prudential California Realty 3320 Grand Ave Oakland, Ca"

102 was purchased almost 20 years ago:

Last sale and tax info

Sold 07/31/1989: $239,000

2007 Property Tax: $4,345

108 was purchased 4 1/2 years ago:

Last sale and tax info

Sold 03/12/2004: $438,000

2007 Property Tax: $5,912

And therein lies the rub for Ron Palmer's listing: 102 is asking for about 9% more than 108's previous purchase price ($480,000), while its neighbor is trying to get a whopping $645,000, a 34% premium over the other unit, which is already arguably overpriced at $313 / sqft with those sizable HOA dues ($4,920 per year that's not going into your roof/flooring/plumbing fund or other property-value-enhancing vehicle).

Another interesting sign of the times is that it took 15 years for $239,000 to grow into $438,000 (a fairly normal 4.125% y-o-y appreciation), but 108's owner has no qualms about expecting the same absolute gains in just four years (a completely unreasonable 10.125% y-o-y appreciation). And 102 claims to be an upper unit, which is arguably better than a ground-floor unit--no amount of flamenco dancing by your neighbors can dislodge your chandeliers or rattle your dentures.

I once heard a house owner deride condo living as a lifestyle sought after by fat retirees wearing big gold chains and half-open Hawaiian shirts. I see it more as a dangerous proposition when near-perfect comps are right under your nose (16 ft away, per Google's walking directions), waiting to strike at your listing with the exact same offerings and a lower price.

In any case, $410 / month sure buys you a lot of Hawaiian shirts. 

Real estate agents must use a special dictionary. In mine, a "bargain" is a good deal, a product that can be obtained for less money than other comparable products, or for less than you would normally expect to pay for it in general. A house priced around $800,000 rarely qualifies. Especially with the following specs:

3 bedrooms, 2 1/2 bathrooms, 1,736 sqft, 4,050-sqft lot, MLS(r) #40355249, $799,000, listed 7/10/08

$799000 Bargain 4 Bedroom home in Harbor Bay (alameda)

---

Reply to: rliu@hbrinfo.com ^[?]
Date: 2008-09-19, 2:27PM PDT


Sunny southern special floorplan w/High ceiling. Large private backyard. Newer designer paint. Good Size driveway. Close to Shoreline, park, & school. Wider st. attractive move-in condition.

Must See!!

Open House Sun 9/21 2-4 pm
Harbor Bay Realty
Ringo Liu
510.814.4848

Ringo: $460 / sqft is not a bargain. In fact it's arguably too expensive by a factor of 2. And "designer paint" doesn't really cost any more than the odd bucket of Behr.

The sale history is littered with non-arms-length transactions:

Sales History

Sale History & Tax Info

Sale History
06/30/2005:	$150,000 *
04/07/1987:	$204,000 *
No other sale data is available
* Transaction not included in Zestimate

I suspect the listing history will also be littered with price drops.

Update 10/31/08: Indeed. Down to $775,000.

Writing listings isn't hard, but occasionally you'll run into some that have you scratching your head.

$898000 Price big change.Brand New House 5bed/3bath/2pkg,Bay Farm Island (alameda)

---

Reply to: summershouses@yahoo.com ^[?]
Date: 2008-09-16, 6:54PM PDT


Price big change. was $950,000 and Now asking:$898,000. This is a brand new, never been lived in home in Bay Farm Island of Alameda. This gorgeous 4 bedroom upper, 1 bedroom on street level, 3 bathroom, 2 car side by side parking garage house is 2,200 square feet, and features new hardwood floors, cascading staircase and high end, new luxury kitchen appliances sure to make any chef happy.

Floor plan includes high vaulted ceilings, large formal dining room and spacious kitchen.
New stainless steal appliances, granite counter tops and pristine hardwood floors.
Master bedroom with large master bath including jet bath, independent shower and dual vanity sink.

You just have to have a house with a price big change and stainless steal appliances.

The house is brand new, so there's no record of it on Zillow or Trulia. The current price big works out to $408 / sqft, which is a bit steep, even with a happy chef in the kitchen and very, very clean residents in the 5 bedrooms using the multiple cleaning devices in the master bath. If it's brand new, the builder might have some room to drop the price a bit (again).

Today's craigslist post is rather unremarkable. First the publicly available specs:

3 bedrooms, 2 bathrooms, 1,385 sqft, 5,152-sqft lot, $649,500 ($469 / sqft)

$649500 SINGLE LEVEL, EASY LIVING MEDITERRANEAN (alameda) (map)

---

Reply to: hous-827372508@craigslist.org ^[?]
Date: 2008-09-04, 1:27PM PDT


Great single level, easy living Mediterranean in Alameda's Bay Farm area. 3 bedrooms, 2 baths, newly painted interior, eat-in kitchen, wood floors, updated light fixtures, 2-car garage, large patio. Close to shops, restaurants, excellent schools, parks, golf, tennis, fitness club. Convenient commute, or use bus, BART, and ferry service to S.F.

1017 HOLLY STREET at Mecartney

A huge modern Craftsman revival with Bay views has been on the market for a while, and today it has reminded us of its latest big price drop. 6 Callan Place has caved (MLS(r) #338507 or #40327569). First, the outsized specs:

4 bedrooms, 3 1/2 bathrooms, 2 stories, 4,695 sqft (or 4,536, depending on the MLS(r) number), approx. 5,749-sqft lot, $2,095,000, on the market for 6 months as of 8/31/08

$2095000 Over $500k in reductions for this San Francisco bay and downtown view! (alameda)

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Reply to: hous-821786147@craigslist.org ^[?]
Date: 2008-08-31, 11:36PM PDT

Principles only, no agents, e-mail for a private tour of the special property.
Custom-built Craftsman with well over 4600 sq feet +/- reduced from the over $2.6 Million dollar price tag makes this your dream come true! Make us of a slow sellers market and sell when the tables turn!

The price has already been dropped multiple times and add up to $533,000):

$2,628,000 to $2,490,000 in late April, 2008
$2,490,000 to $2,295,000 in mid July, 2008
$2,295,000 to $2,095,000 in late August, 2008

"No agents"--could the seller be going FSBO? They might need all the commission-cutting they can get given the sale history:

Last sale and tax info

Sold 06/22/2004: $1,900,000

2007 Property Tax: $22,954

6% of $2,095,000 is a substantial $125,700, so they'd net $1,969,300. That's not a heck of a lot more than the last purchase price, but still respectable. And even if they have to drop the price again and lose money on the transaction, I doubt it'll be an amount someone who lives in a $2M house really cares about.






Announcement: read about EBRD, Inc.'s DMCA content removal complaint against this blog

Today's Craigslist post doesn't beat around the bush. It comes out and tells you this is an REO and gets right down to business.

$509000 ALAMEDA FORECLOSURE!! (Bay Farm Island) (alameda) (map)

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Reply to: anthony@anthonympayne.com ^[?]
Date: 2008-08-23, 10:51AM PDT

A Bank Owned Foreclosure, In a Wonderful Bay Farm Island Location, 2 Bedrooms & 1.5 Baths, 1035 SqFt., Well Maintained, Single Level Home, Close to Ferry. Don't Miss This One!!

[...]

Announcement: read about EBRD, Inc.'s DMCA content removal complaint against this blog

It's not often that I compliment sellers or agents on their pricing strategy, so I'll make this one special: I'm creating a new category, "priced to sell," to highlight listings with non-idiotic prices relative to the current market. It doesn't mean I condone those prices--in most cases they're still too high given rents, salaries and other indicators. That's why the category isn't named "The price is right." Still, I wanted to recognize these sellers' non-cluelessness, and have an archive where all those listings could be found together for ease of reference. It might be fun to track how quickly the category grows as the market cools off, say, around the holidays.

Today's inaugural inductee is a large townhouse on Oak Park Drive (MLS #40361652):

3 bedrooms, 2 1/2 bathrooms, 1,701 sqft, listed in early August, 2008

Here's the third post in Izabella Lipetski's "or best offer" serial Craigslist novel.

$439000 Asking Price or Best Offer on this Great Townhouse!! CALL NOW!! (alameda)

---

Reply to: ilipetski@yahoo.com
Date: 2008-08-15, 11:23AM PDT


Sunny Islandia C Model on Fir Ave. Asking price: $439,000 or best offer! New carpet 7/08. Alarm system. New roof 2007. Close to tennis courts. Master bedroom has vaulted ceilings and overlooks greenbelt. Near shopping and transportation. Double car garage and patio. Newer sinks in the bathrooms and newer counter tops in the bathrooms and kitchen.

For more information and/or for a private showing of this home, please contact Izabella at (510)522-9600. And please visit my website: www.izabellalipetski.com

This unit appears to have been purchased the year it was built and owned by the same person since then, so even if the "best offer" they get is lower than their asking price, as long as they didn't go wild with cash-out refinances:

Seller Facts:

• Townhouse
• 3 beds
• 1.0 bath
• 1,340 sqft
• Lot 1,540 sqft
• Built in 1971

Last sale and tax info

Sold 09/10/1971: $30,500

2007 Property Tax: $1,462

An asking price of $439,000 corresponds to 7.5% y-o-y appreciation every year since it was sold. That's quite a bit higher than historical trends that more or less track inflation + about 1%.

Average Annual Home Price Appreciation

Source: Office of Federal Housing Enterprise Oversight
From 1994-1998 (5 years)

United States	4.3
Alaska	4.0
Alabama	4.5
Arkansas	3.9
Arizona	5.7
California	3.4
Colorado	7.5
Connecticut	2.3
District of Columbia	3.2
Delaware	2.1
Florida	3.7
Georgia	6.0
Hawaii	2.1
Iowa	5.0
Illinois	3.7
Indiana	5.1
Kansas	5.5
Kentucky	5.1
Louisiana	5.2
Massachusetts	5.8
Maryland	1.9
Maine	3.6
Michigan	8.3
Minnesota	6.2
Missouri	4.8
Mississippi	5.4
Montana	5.1
North Carolina	5.4
North Dakota	4.0
Nebraska	5.6
New Hampshire	4.6
New Jersey	2.6
New Mexico	3.9
Nevada	2.8
New York	2.6
Ohio	5.2
Oklahoma	3.9
Oregon	7.4
Pennsylvania	2.2
Rhode Island	1.9
South Carolina	5.3
South Dakota	4.9
Tennessee	5.7
Texas	3.4
Utah	8.3
Virginia	2.6
Vermont	2.0
Washington	5.2
Wisconsin	5.4
West Virginia	4.5
Wyoming	5.4

Assuming 5% y-o-y appreciation we'd be looking at an asking price around $190,000. It'd sell in 24 hours at that price...

The second of Izabella's "obo" craigslist posts this week is...

12 Shepardson Lane is listed at an asking price $609,000 (MLS #40337083). No price drop history is available on Zip Realty, despite of an unflattering 4 months or so on the market as of this writing. The publicly available home specs include:

2 bedrooms, 2 1/2 bathrooms, 1,658 sqft condo, listed in mid April, 2008, currently listed at $609,000

$609000 ASKING PRICE OR BEST OFFER FOR THE BEAUTIFUL & SPACIOUS TOWNHOUSE!! (alameda)

---

Reply to: ilipetski@yahoo.com
Date: 2008-08-15, 11:22AM PDT

Spacious townhouse in a gated community on Shepardson Ln. Asking price: $609,000 or best offer!! Two master suites with private baths featuring marble floors and a sunny kitchen with a breakfast area. One car garage with extra parking outside. Spacious front and back yard. A must see!

For more information and/or for a private showing of this home, please contact Izabella at (510)522-9600. And please visit my website: www.izabellalipetski.com

Neither Zillow nor Trulia has any sales information about this property, so one has to give it the benefit of the doubt. That said, $609K for a (large) 2-bedroom condo near the airport ($367 / sqft) seems a little steep, considering the HOA dues are likely to be pretty high as well.

This unit is one of three advertised on craigslist today with a singularly redundant title:

$657000 ASKING PRICE OR BEST OFFER FOR THIS BEAUTIFUL BAY COLONY HOME!!! (alameda)

---

Reply to: ilipetski@yahoo.com
Date: 2008-08-15, 11:22AM PDT


Lovely 3 bed/2.5 bath Bay Colony home on McDonnel Rd. Asking price: $657,000 or best offer!! Newer carpetand updated wood floors on lower level. Located near SF Ferry, trails, parks, and more!!! MUST SEE!!

For more information and/or for a private showing of this home, please contact Izabella at (510)522-9600. And please visit my website: www.izabellalipetski.com

423 McDonnel Road has an asking price (or best offer, remember) of $657,000 (MLS #40305981). We've talked about some of this one's neighbors here. An impressive 295 or so days on the market and 3 price drops later, it still hasn't sold. On to the publicly-available specs:

3 bedrooms, 2 1/2 bathrooms, 1,625 sqft, 2,720 sqft lot, listed in late October, 2007
Price dropped from $745,000 to $729,000 in late March, 2008
Price dropped from $729,000 to $699,000 in late April, 2008
Price dropped from $699,000 to $657,000 in mid June, 2008

Not surprisingly, this is a loss leader:

Last sale and tax info

Sold 07/10/2007: $730,000

2007 Property Tax: $7,523

Today on Craiglist an eager seller's agent named Izabella Lipetski thought it would be helpful to state the obvious three times in a row.

Last I checked, all real estate transactions that do complete are "asking price or best offer."

Izabella didn't list the exact address on any of the three craigslist posts but a search by price and street on her site reveals the following:

423 McDonnel Road, a long-suffering single-family home in 94502

12 Shepardson Lane, a 4-month-old listing, also in 94502

3164 Fir Avenue, a condo with no MLS ID that I could find, in 94502 as well

Good luck to the sellers. One thing I'd like to see them held to is the "or best offer" language in the listings. If buyer A comes in at $250,000 and that's the best offer the sellers get within a given time frame, perhaps they should be required to take that offer.

Of course the "OBO" language comes with a built-in loophole, namely there is no expressed time limit, so you can always say "this offer is low, I'll most likely get a better one soon", thereby making the OBO language even more meaningless than it already is.

Is it supposed to instill a sense of urgency? It didn't work for me.

Today's listing might be the fastest price drop on record (MLS(r) #40360141; no link until EBRD issues are resolved). Here are the publicly available specs:

3 bedrooms, 2 1/2 bathrooms, 1,701 sqft, condo/townhouse, listed on 8/1/08 for $555,000, dropped to $549,000 on 8/3/08

Beautifully maintained [...] plantation shutters,laminate flooring, neutral color carpet,[...] spacious living and dining area, nice kitchen [...] Loads of natural sunlight [...] walking distance to alameda ferry.

This property is also a cousin to yesterday's listing, historically speaking: it's on the market for just over commission + last sale price in 2003:

Last sale and tax info

Sold 09/30/2003: $497,000

2007 Property Tax: $6,568

Two listings don't make a trend, but a price drop to 2003 levels in late 2008 is an appealing possibility.

Today's craigslist post is a must-see that will not last, evidently (MLS(r) #40354885; no link until EBRD issues are resolved).

$844000 This is a MUST SEE!!! (alameda) (map)

---

Reply to: Rkim@hbrinfo.com
Date: 2008-07-28, 11:56AM PDT


Beautiful Alameda Harbor Bay Isle home located in a desirable area. It has a large living and dining room with a kitchen and breakfast nook that look out to a wonderful garden. The master bedroom has a large closet, storage space in the attic, gorgeous new hardwood floors, a laundry room and much, much more! This will not last!!! For more information, please see: www.126Sable.com. Open Sunday August 3rd, 2-4pm. Richard Kim, Realtor, Harbor Bay Realty richard@SearchAlamedaHomes.com www.SearchAlamedaHomes.com 510-814-4813

Laconic Ringo Liu is at it again with another must-see listing:

$750000 Lovely Direct Lagoon home w/ partial Bay Views in Bay Farm (alameda)

---

Reply to: toringoliu@aol.com
Date: 2008-07-25, 2:32PM PDT


Big. Private backyard w/ patio and lawn. Spacious rnt yard and driveway. High cathedral ceiling. Lots of windows. Tile roof, newer carpets & designer paint. Close to Ferry, shoreline, trails & schools. Good size mastersuite and kitchen w/ view. Must See!

This place looks like a SFH, but Zillow has it as a condo. Perhaps it's one of those single-family-homes-with-HOA deals: the worst of both worlds!

Public Facts:

• Condo
• 3 beds
• 2.5 bath
• 1,489 sqft
• Lot 3,800 sqft
• Built in 1997

No scary history (which may be why this listing is uncharacteristically wordy; maybe this one will be worth his time):

Sales History

Sale History & Tax Info

Sale History
09/24/1997:	$272,000 *
No other sale data is available
* Transaction not included in Zestimate.

This transaction was not used in computing the Zestimate for this house due to anomalies we detected with this transaction. These anomalies can include unusual document or transaction types, sales between possibly related parties, unusually high or low transaction prices, or other data irregularities that might indicate the transaction is not a full-value, arms-length transaction.

I wonder if Zillow's stats masters took it out because it was too high, or because it was too low. If you ask me, $272,000 for less-than-1,500-sqft condo was just about as excessive in 1997 as $750,000 is in 2008.

Agent Ringo Liu is a man of few words, judging by his recent activity on Craigslist--3 posts in rapid-fire succession, but none of them is longer than 30 words.

Here's one:

$849000 Large Bay Farm Home! (alameda)

---

Reply to: toringoliu@aol.com
Date: 2008-07-25, 2:32PM PDT


One bedroom and full bath downstairs. Bonus loft/study area upstairs. Wood floors and high ceiling. Very open and spacious floor plan. Good size backyard. Close to park & shops & schools. Must See!

Looks nice enough:

But perhaps something in him knows these are bum listings and he might as well save his efforts for more worthy homes:

Last sale and tax info

Sold 12/21/2005: $859,000

2007 Property Tax:$10,416