Loss leaders: April 2008 Archives
This "fantastic" Victorian on a reasonably nice block of Lincoln showed up in my mailbox courtesy of Trulia last night:
I suspect the whole "original charm
has not been distorted but improved upon" bit is a reference to the
decidedly non-period brick skirt and iron railings everywhere. Whether
it's an improvement really is a matter of opinion.
It's currently listed at $644,000, which is about right for a 1,200+ sqft 3+2 Victorian in Alameda these days if it wants to sell, although there are others at that price point that have been sitting around for a while. The specs are comparable to that Willow house:
This grand victorian, like a great wine, stands nobly with time. Crafted in 1885 with choice materials this home has been remodeled to welcome you and provide you with years of comfort, The original charm has not been distorted but improved upon. Hardwood floors and large kitchen echo years of great..
I suspect the whole "original charm
has not been distorted but improved upon" bit is a reference to the
decidedly non-period brick skirt and iron railings everywhere. Whether
it's an improvement really is a matter of opinion.It's currently listed at $644,000, which is about right for a 1,200+ sqft 3+2 Victorian in Alameda these days if it wants to sell, although there are others at that price point that have been sitting around for a while. The specs are comparable to that Willow house:
- Single family
- 3 beds
- 1.0 bath
- 1,227 sqft
- Lot 5,540 sqft
- Built in 1885
Because this listing doesn't appear to be on MLS sites yet (the official property site says MLS #40166066, so it should show up on Pacunion shortly), I can't verify whether it's actually active or a remnant listing from the last go-round that wound up in Trulia's database (I've seen that happen on other sites picking up expired listings). Assuming it is, it certainly inspires one to buy a house these days considering what a great investment real estate has been in the past couple of years:
Counting commissions, we're looking at $100K down the drain in less than 2 years. That's more than what most people earn in the same amount of time. Lovely.
ZESTIMATE®: $584,500
- Value Range: $514,360 - $642,950
- 30-day change: -$31,000
Last sale and tax info
- Sold 06/22/2006: $710,000
- 2007 Property Tax: $8,866
This Victorian with a whopping 7 bedrooms and 5 bathrooms in only 1833 sqft is back at $625,000 (MLS #40339457):
(no photo yet)
It was on the market for what seemed like an eternity in 2006 and 2007 and was one of the earliest exemplars of the market's collapse. The records suggest it was finally repossessed and it's now on the market for over $100,000 less than the previous price.
Update 11/1/08: Sold for $670,000 on 7/16/08. Zillow isn't including that transaction in their Zestimate either, so I don't know if it's a real purchase or some repossession/auction/foreclosure/whatever.
This victorian home has great potential: can be very easily turned into a duplex for extra income. It feels much larger than records show.
It was on the market for what seemed like an eternity in 2006 and 2007 and was one of the earliest exemplars of the market's collapse. The records suggest it was finally repossessed and it's now on the market for over $100,000 less than the previous price.
Sales History
Close
- 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.
Makes you wonder what to tell realtors when they tell you now is a great time to buy. 2005 was, too.
Sale History & Tax Info Sale History 08/15/2007: $620,500 * 06/01/2005: $727,000 No other sale data is available
Update 11/1/08: Sold for $670,000 on 7/16/08. Zillow isn't including that transaction in their Zestimate either, so I don't know if it's a real purchase or some repossession/auction/foreclosure/whatever.
This condo (re)appeared on the market today (MLS #40339010) with a "major price reduction" to $359,000:
Corner end unit- privacy with views of bay & crab cove. Great amenities include club house, gym, pool & sauna. Walk to shops, dining & transportation. Walking trails to beach & cove. New wood laminate floors in kitchen & bath. Dining area. Extra storage space. Covered parking. Large enclosed patio.
I found its old price in Google's cache: $379,000 when it was known under MLS #40317111. The "major" price reduction is thus a whopping 5.3%. Color me unimpressed. Based on this other Google cache find, it had been on the market for 80 days as of 3/30/2008, which means it has now been listed for a hair over 4 months:
The condo itself is also not particularly impressive, at least based on its specs:
List Price: $359,000
ZipRealty will give you up to $2,154 cash back.*
The condo itself is also not particularly impressive, at least based on its specs:List Price: $359,000
ZipRealty will give you up to $2,154 cash back.*
| Bedrooms: | 2 |
| Full Baths: | 1 |
| Partial Baths: | 0 |
| Square Feet: | 843 |
| Lot Size: | 1.7 Acres |
| Year Built: | 1970 |
| Listing Date: | 04/26/08 |
| On Market: | 0 day |
| Type: | CONDO/TH |
| Status: | ACTIVE |
| MLS #: | 40339010 |
One might understand why the sellers have been slow to respond to the lovely market conditions we're currently in, given this:
Update 7/9/08: "Owner says sell it now" and prices it at $309,900. Baddabing.
Assuming the unit does sell at $359,000, they'll have lost $28,000 + 6% commission ($21,540), i.e. $49,540 or a 12.8% negative ROI.Last sale and tax info
- Sold 02/10/2006: $387,000
- 2007 Property Tax: $2,488
Update 7/9/08: "Owner says sell it now" and prices it at $309,900. Baddabing.
I completely missed this one when it came on the market 16 days ago. A multi-family Victorian in the East end, this home (MLS# 40334154) listed at a mere $650,000 is described as follows:
Every single picture is a front view of the exterior of the house (what's left of it), from various angles, including not one but two daring across-the-street shots:
If the house didn't look so derelict, it might actually sound decent (except lots in that part of town are typically small, and the pictures suggest there isn't much land around the structure):
But the best part about this great opportunity is how great an opportunity it was for the lesser fool trying to get rid of it:
This is a great opportunity for first time home buyers and investorswhich I believe is code for "you'll be working on this house even after your ARM resets for the 3rd time." The ZIP Realty listing shows seven pictures, all of which are variations on this one:
Every single picture is a front view of the exterior of the house (what's left of it), from various angles, including not one but two daring across-the-street shots:If the house didn't look so derelict, it might actually sound decent (except lots in that part of town are typically small, and the pictures suggest there isn't much land around the structure):| Bedrooms: | 0 |
| Full Baths: | 0 |
| Partial Baths: | 0 |
| Square Feet: | N/A |
| Lot Size: | N/A |
| Year Built: | 1895 |
| Listing Date: | 04/03/08 |
| On Market: | 16 days |
| Type: | MFR |
| Status: | ACTIVE |
| MLS #: | 40334154 |
But the best part about this great opportunity is how great an opportunity it was for the lesser fool trying to get rid of it:
Last sale and tax info
- Sold 11/01/2006: $679,000
- 2007 Property Tax: $1,564
This home (MLS #40336605) just appeared on the market today, tax day 2008, for $627,000, with no photo and a terse description:
List Price: $627,000
I'm sure the Owen at the bank is thrilled to have this house back after such a short time.
What I'd like to know is what kind of an idiot a homebuyer pays $800,000 for a 1716-sqft house on a lot that's barely twice that. I guess it's the kind of idiot homeowner who has to send the keys back less than 18 months later.
Note the bank is not only eating 30 years' worth of interest on a juicy loan, they're also listing the house for $67,000 less than the repo price. I guess everybody'san idiota homeowner.
Bank Owend , Great Community,3 bedroom /2 1/2 bath. lovely home in a great area. Has Spacious Master suite w/ walk in closet. You would love to call this place homeThe specs make it sound like an honest house, although the lot is small:
List Price: $627,000
| Bedrooms: | 3 |
| Full Baths: | 2 |
| Partial Baths: | 1 |
| Square Feet: | 1,716 |
| Lot Size: | 3,616 Sq. Ft. |
| Year Built: | 1964 |
| Listing Date: | 04/14/08 |
| On Market: | 1 day |
| Type: | SFR |
| Status: | ACTIVE |
| MLS #: | 40336605 |
I'm sure the Owen at the bank is thrilled to have this house back after such a short time.
Sale History & Tax Info
Sale History |
|
| 11/14/2007: | $694,108 * |
|---|---|
| 04/28/2006: | $800,000 |
No other sale data is available |
|
* Transaction not included in Zestimate. More info | |
Note the bank is not only eating 30 years' worth of interest on a juicy loan, they're also listing the house for $67,000 less than the repo price. I guess everybody's
There's no description on this property (MLS #40327779), so I'll keep the editorializing short and let the numbers speak for themselves.
List Price: $548,000
(that's $120,000 off) with a recent history:
List Price: $548,000| Bedrooms: | 0 |
| Full Baths: | 0 |
| Partial Baths: | 0 |
| Square Feet: | N/A |
| Lot Size: | N/A |
| Year Built: | 1930 |
| Listing Date: | 03/04/08 |
| On Market: | 40 days |
| Type: | MFR |
| Status: | ACTIVE |
| MLS #: | 40327779 |
| Price Reduced: 03/18/08 -- $668,000 to $548,000 |
|
|
(that's $120,000 off) with a recent history:
Assuming a 6%, $32,880 commission, we're looking at a $94,880 loss. Whee!Last sale and tax info
- Sold 10/28/2005: $610,000
- 2007 Property Tax: $7,997
It's not often you see 6-digit price drops on small houses like this bungalow (MLS #40327720), but it does happen:
Now listed at $448,000, it took a decisive drop 3 weeks or so after it was listed, and 4 years + 1 day after its last sale closed:
Given the way escrows go, I doubt the specific price drop date was significant to the sellers. They must have bigger issues to deal with at the moment, given:
Bamboo like pergo, shutters, pretty, cozy and very nice interior. Craftsman w/ natural light. 2 bedrooms,2 full bathrooms, pleasant yard w//cottage/ storage. Quiet side (West end) of Alameda close to beach, schools, park, shopping. No showings until further notice. phone agent.
Now listed at $448,000, it took a decisive drop 3 weeks or so after it was listed, and 4 years + 1 day after its last sale closed:| Price Reduced: 03/18/08 -- $548,000 to $448,000 |
|
|
Given the way escrows go, I doubt the specific price drop date was significant to the sellers. They must have bigger issues to deal with at the moment, given:
Homes priced at below 2004 prices aren't selling; credit is hard to get; long-term fixed-rate mortgages are higher; yet you see brain-dead agent questions and answers like this on Trulia Voices:Last sale and tax info
- Sold 03/19/2004: $485,000
- 2007 Property Tax: $6,746
Why is now the best time to buy?I say the NAR deserves a collective Darwin award.
1.) Market--historic, plummeting prices. 2.) Conditions--buyers in driver's seat: more selection, better bargaining opp'ties & comparable selections, 3.) Mortages--better deals, more companies anxious to get customers and better overall rates nationwide. If you have solid credit rating, you are in a very strong position, 4.) There is far greater latitude to leverage your money over a time period suiting you--not your bank and, 5.) Sellers are desperate, need to sell and want to snag a good deal. Could home-buying be better??
Prices are low rates are great.. what else would you ask for...
This listing just came on the market 3 days ago, around April 10th, but I could swear I'd seen it before. At any rate, there's no photo yet, but here are the specs:
I didn't realize an agent would allow a house to be both "cozy" and "spacious." But there's going to be a spacious gap in the seller's bank account considering the following:
Update 10/9/08: It's back on the market as MLS(r) #40374485, with the same inane "Hurry this won't last" description, and the same silly $599,000 price.
Update 10/26/08: Price dropped almost $5,000 to $594,300 on 10/22. I scoff.
Update 11/10/08: Now officially a short sale.
3 bedrooms, 2 bathrooms, 1,503 sqft, 5,000-sqft lot, MLS(r) #40335733, $599,000
Hawaii in alameda? This lovely home is a strolling distance to the shore, schools, shops and rest-aurants. It's a spacious 3bd/2baths/2cgarage cozy home. Features central heating, romantic fireplace in livingrm, move in condition. Hurry this won't last.
I didn't realize an agent would allow a house to be both "cozy" and "spacious." But there's going to be a spacious gap in the seller's bank account considering the following:$94,000 under + $35,940 commission = $129,940 lost in 18 months. Whoaaaaaaaa.Last sale and tax info
- Sold 10/02/2006: $693,000
- 2007 Property Tax: $4,381
Update 10/9/08: It's back on the market as MLS(r) #40374485, with the same inane "Hurry this won't last" description, and the same silly $599,000 price.
Update 10/26/08: Price dropped almost $5,000 to $594,300 on 10/22. I scoff.
Update 11/10/08: Now officially a short sale.
Browsing for a completely different property on Zillow, I was alerted to the fact a large East end Victorian was apparently back on the market:
This property was on the market last November and the price was $920,000 then:
Per Zillow's property page this listing is now active again, as of 2 days ago, and listed at $895,000. The agents are internet-savvy cats and I doubt this is an error, even though the postlets link on the Zillow page is dead:
Located on a quiet block near Alameda’s desirable East End schools, this unique and stately Victorian duplex has been structurally overhauled with careful attention paid to its many rich architectural details.
[...]
Currently divided as two equal but separate units of approx 1500 sq ft each (1: 2+BD/1BA and 1: 3++BD/1BA), this property seems an obvious conversion back to a magnificent single family home with 6+ bedrooms, 2 baths, sweeping staircase, and grand rooms.
This property was on the market last November and the price was $920,000 then:Per Zillow's property page this listing is now active again, as of 2 days ago, and listed at $895,000. The agents are internet-savvy cats and I doubt this is an error, even though the postlets link on the Zillow page is dead:I'm not sure I'm quite ready to forgive that uncharacteristic affront to taste and logic in their copy, which describes the two units as "equal but separate", when they're not even equal (one has "2+" bedrooms, the other "3++"), but that's probably the least of their seller's worries, given what the bottom of that Zillow page reveals:
Took them a while to realize a Victorian duplex that cost $920,000 would never be cashflow-positive even if 100% occupied, especially with only one bathroom in each unit. Assuming no money was spent on upkeep, and a 6% commission, we're looking at about $80,000 down the chute, not including property tax. Will update with MLS ID if it shows up on the MLS again.Last sale and tax info
- Sold 09/13/2005: $920,000
- 2007 Property Tax:$11,237
This large Gold Coast home came on the market about 3 months ago (MLS #40317490), on January 10:
Its price dropped from $1,398,000 to $1,298,000 in early March, 2008.
Large home in Gold Coast;3 car garage;fabulous entryway, graceful stairway, large LR, & formal DR. Period details, redwood wainscoting, open floor plan; ideal for entertaining. Newly refinished hardwood floors on 1st & 2nd stories. 2 bonus rooms on 3rd floor and a partial basement.
Its price dropped from $1,398,000 to $1,298,000 in early March, 2008.If I remember correctly, this house was repossessed by the lender. That transaction shows a price of $1,495,000, which may be the default amount on the loan. Interestingly, the home was bought for quite a bit less than that, so one suspects a HELOC gone wild:
The amount of fake money generated, exchanged and subsequently lost over the past few years just in the real estate market is staggering.
Sale History 11/19/2007: $1,495,000 * 10/16/2001: $1,195,000 * No other sale data is available
Interestingly enough, in Alameda, being almost on the beach doesn't really command a higher price, especially with condos. Maybe it's because the island is so small that you're never really far from the beach. At any rate, here's a cozy 1+1 currently listed at $390,000 that's trying to keep its head above water, a little too late (MLS #40330229):
After only 18 months of ownership, the "motivated seller" finds him/herself faced with a $33,400 loss with the usual assumptions, not counting the new carpet, paint, countertops and cabinets.
Those countertops aren't hideous, for a change. It's a shame.
Motivated seller. Newer paint, neutral carpet, granite counter tops and updated kitchen cabinets. Corner unit private.
After only 18 months of ownership, the "motivated seller" finds him/herself faced with a $33,400 loss with the usual assumptions, not counting the new carpet, paint, countertops and cabinets.Last sale and tax info
- Sold 09/07/2006: $400,000
- 2007 Property Tax: $5,267
Those countertops aren't hideous, for a change. It's a shame.
In a condo mood tonight, I decided to investigate the scene, and found a lovely exemplar of mid-2000s remodeling, a lovely 1+1, 742 sqft condo with Terminator kitchen (and bath, Danke schön), track lighting and granite everywhere (MLS #40334911):
Nothing says "welcome home" quite like anthracite counters and the Bosch logo in every room. I wonder if there's an "Arbeit macht frei" sign hanging above the front door (on the inside, of course).
Currently listed at $329,000, the owners are looking at a loss of at least $32,740, not counting the steel and stone remodel, with the usual 6% commission assumptions:
Update: ZIPRealty (no link, login required) shows a price drop almost as soon as the unit went on the market:
Remodeled with unit BOSCH LAUNDRY! Kitchen - bosch dishwasher, cabinet depth refrig. granite counter. Bath -custom tile shower. Redesigned dress area with laundry -Over looking Pool .Beautiful grounds! Great ComplexThe listing makes it abundantly clear the 2 quarries' worth of granite and 50 metric tons of German stainless steel are a big selling point--here's the first photo:
Nothing says "welcome home" quite like anthracite counters and the Bosch logo in every room. I wonder if there's an "Arbeit macht frei" sign hanging above the front door (on the inside, of course).Currently listed at $329,000, the owners are looking at a loss of at least $32,740, not counting the steel and stone remodel, with the usual 6% commission assumptions:
Kann ich ein Käseburger haben, bitte?Last sale and tax info
- Sold 08/23/2005: $342,000
- 2007 Property Tax: $4,627
Update: ZIPRealty (no link, login required) shows a price drop almost as soon as the unit went on the market:
| Price Reduced: 04/09/08 -- $349,000 to $329,000 |
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I don't usually pay attention to condos, but the address on this one sounded familiar so I had to look it up (MLS #40334736).
Cute 1 bedroom 1 bathroom cop floor condo with balcony. Newer interior paint (11/07) and newer carpet (3/08). Extra storage and community pool. Located near beach, park, shopping, transportation and restaurants.
The seller is asking $285,000 for a 701 sqft condo, which comes out to $406 / sqft. What's more interesting, though, is that it's only been owned for a few months:
Talk about a quick way to lose $32,100.Last sale and tax info
- Sold 07/31/2007: $300,000
- 2007 Property Tax: $1,841
Where's Neil Diamond when you need a tune to cheer you up?
This listing at 1440 Caroline Street (MLS #40334919), reported for sale on Zillow ages ago (147 days as of April 10), has now been dropped well below its previous price of $507,000, to $455,000.
I won't argue about whether Caroline really is "West End" (I thought the West End started at Webster street), but there's no question this is one of our loss leader and price drop champions, having once been listed at $587,000 back in early September of last year.
What with this poor house's sale history and description as "completely remodeled" (let's say a $50,000 remodel job, maybe, with new kitchen, baths, refinished floors, pain, some electrical and plumbing, to paraphrase), and we're looking at a fat six-digit loss. On a less-than-half-a-million-dollar property. Yikes.
This listing at 1440 Caroline Street (MLS #40334919), reported for sale on Zillow ages ago (147 days as of April 10), has now been dropped well below its previous price of $507,000, to $455,000.
This split level, Spanish Style home, features 3 bedrooms 1-1/2 baths. Completely remodeled - New kitchen, baths, interior and exterior paint, refinished floors, some electrical and plumbing. Located in the West end of Alameda.
I won't argue about whether Caroline really is "West End" (I thought the West End started at Webster street), but there's no question this is one of our loss leader and price drop champions, having once been listed at $587,000 back in early September of last year.
What with this poor house's sale history and description as "completely remodeled" (let's say a $50,000 remodel job, maybe, with new kitchen, baths, refinished floors, pain, some electrical and plumbing, to paraphrase), and we're looking at a fat six-digit loss. On a less-than-half-a-million-dollar property. Yikes.$27,300 (6% commission) + $50,000 remodel + $40,000 owed to the bank or lost as a down payment due to sale below purchase price = $117,300.Last sale and tax info
- Sold 01/23/2004: $495,000
- 2007 Property Tax: $6,633
I paid attention to the multi-family home at 2134 Lincoln Avenue only peripherally when it was on the market, mostly because of its location. I vaguely remember it being listed over $800,000--the number $850,000 is what comes to mind when I look at the picture and try to remember the details:
Trulia's fantastic recently-sold property page for this property shows off its sad purchase history (confirmed by the corresponding Zillow page):
Ouch. My favorite part of this year's market is to read real estate professionals writing things like
Property Information
Street Number: 2134
Apt Number:
Street: Lincoln Ave
City: Alameda
Zip Code: 94501
Beds: 6
Baths: 3
Year built: 1908
Sqft: 3,015
Lot Size: 8,727
Sales History
Historical home sale price (1): $780,000
Prior sale date: Jan 31, 2008
Change since this sale (1): NA
Historical home sale price (2): $860,000
Prior sale date: Nov 9, 2005
Change since this sale (2): -9%
Ouch. My favorite part of this year's market is to read real estate professionals writing things like
buying a home or condo is never a bad investment , I can almost guarintee when you sell in 2011 or 2012 you will have equity , please follow up with me at that time , i would be interested to know i was more than right . Jennifer Connelly 253-330-4196(source).
One of the most beautiful Queen Annes to hit the market in a long time just appeared on Craigslist (MLS #40334907) and various MLS sites:
It looks glorious on the outside, the lot is large, and it seems to have been very nicely kept up.
It looks glorious on the outside, the lot is large, and it seems to have been very nicely kept up. Located a half block from Edison School, this Elegant Queen Anne Victorian has been lovely maintained w/magnificent detail. Come see the enchanting garden in full bloom.
At $905,000 it's hardly a bargain, but considering its purchase history, it's making our Loss Leader hall of fame today.
Update: this property apparently sold for $896,000.Last sale and tax info
- Sold 05/17/2005: $932,000
- 2007 Property Tax: $11,445
Usually, you hurry to buy something when it's 1) a bargain or 2) very rare and unusual and in high demand, or both. A short-sale fixer on a postage-stamp lot (3510 sqft) that looks the same as over a dozen homes within walking distance doesn't qualify (MLS #: 40333297):
Update 4/9/2008:
Update 4/22/08: The craigslist post is now titled "Waiting for an offer...East End FIXER!!"
Cute bungalow in the Fernside! 3 bedrooms and 2 baths, garage converted to a living space, hardwoods throughout. The kitchen has been updated and actually quite roomy! Nice size yard, fenced with plenty of room for a nice outdoor living space..once you decide what to do with it :)
Terms?
No kidding.Asking Price: $649,000.00Flexibility: VERY flexibleAdditional Pricing Information: POssible short sale...bring your best offer!!
Last sale and tax info
- Sold 07/28/2006: $670,000
- 2007 Property Tax: $8,245
Update 4/9/2008:
Holy something, Batman.PricingAsking Price: $560,000.00Flexibility: VERY flexibleAdditional Pricing Information: SHORT SALE!!!! HURRY
Update 4/22/08: The craigslist post is now titled "Waiting for an offer...East End FIXER!!"
Pricing
Asking Price: $549,000.00
Flexibility: VERY flexible
Additional Pricing Information: SHORT SALE!!!! HURRY
You'd think by now sellers would have gotten the message that the days of 15 offers above asking are over. Hell, NAR is calling it a buyer's market, a it's got to be true. So one has to wonder about the cheeky "Flexibility: Firm" on today's Craigslist post (MLS #40333, which sounds wrong):
In beautiful East End of Alameda, this lovely Bungalow is move-in ready.Has large Family Room, Security System, Dual-Pane windows, Hardwood floorsAnd many upgrades. Call Agent for more information.The house is almost 2000 sqft, which is nice, but only 2+1, on a small < 4000 sqft lot. The"firm" price:
is only $719,000, or $365/sqft, so on the face of it it's in line with those few homes that are selling these days.Let's see what happens. The seller is going to need that firm price, and then some:
Update 9/7/08: So much for firm.Last sale and tax info
- Sold 10/20/2006: $715,000
- 2007 Property Tax: $2,564
Last sale and tax info
- Sold 04/22/2008: $700,000
- 2007 Property Tax: $8,841
There's nothing particularly remarkable about today's bungalow (MLS #40333168), except maybe as a harbinger of a new norm--selling at or below one's purchase price. It seems to happen more and more, and it's hard to imagine that all those cases are distress sales--though maybe they are?
It's described as
Update 5/15/2008: the agent's site and Zillow both say this sold for $530,000.
It's described as
Open April 5 & 6. 2-4 One of Alameda's desirable neighborhood a few blocks from Ediston School. 2 car garage- partial basement. Very well maintained and is in Move-In Conditionand listed at $565,000. Its prior sale was just 3 1/2 years ago and fetched almost that much:
Add property tax, commission, and the cost of keeping a "very well maintained" home, and you get an underwater transaction.Last sale and tax info
- Sold 07/23/2004: $542,000
- 2007 Property Tax: $6,980
Update 5/15/2008: the agent's site and Zillow both say this sold for $530,000.
Miscellaneous