Price drops: May 2009 Archives
Yet another East End property purchased during the run-up just hit the market. 3042 Thompson Avenue has the following specs:
Keep 'em coming. The more inventory we have, the more downward pressure on prices, even with all the Spring fever idiots buying for over asking.
Update 9/19/09: Back as MLS(r) #40429335 for $699,000.
3 bedrooms, 2 bathrooms, 1,490 sqft, 4,400-sqft lot, MLS(r) #40410279, $725,000Purchased in 2003 for too much money, it's now on the market for too much money ($487 / sqft).
Great Fernside District Neighborhood. [...] Formal Living Rm & Dining Rm. Breakfast nook facing front of house. Master Bedroom W/Bath & Exit Door to Deck and Yard. Newer Furnance,Water Heater and Windows.
Keep 'em coming. The more inventory we have, the more downward pressure on prices, even with all the Spring fever idiots buying for over asking.
Update 9/19/09: Back as MLS(r) #40429335 for $699,000.
You may remember the heinous failure of the auction scheduled a few Fridays ago for 1238 Versailles. Looks like they're trying a real listing again, listed at $1,395,000.
"Live where you work"? How many people who can afford a $1.4M house work in Alameda?
"Only the second owners"? Let's do a little math. "After 25 years" means the house was purchased in 1984. Since it was built in 1854, the previous, original owner was at least 150 years old when they sold (assuming they were at least 20 years old when they bought the house new). That's another seriously old seller. The weather on the island must be very good for one's health and longevity.
Oh, and it didn't sell at $1,395,000, and nobody bid on it at the auction even though it started at $595,000. So what exactly makes you think it'll go this time around?
$1395000 / 6br - BED & BREAKFAST INN RESTAURANT & TEAHOUSE (alameda) (map)
Reply to:
Date: 2009-05-05, 12:06PM PDT
Beautiful historic property renovated with building permits. Rated as a 14 year old house by the insurance company! Bed and Breakfast Inn, Restaurant and Teahouse established over 25 years. Live where you work in a gorgeous Island setting. Ferries are accessible to take you all over the Bay Area, as well as access to Bart (Bay Area Rapid Transit) Six bedrooms, six baths, six fireplaces and a full commercial kitchen approved by the Alameda County Health Department. We have an exemption from parking and the property is zoned commercial, so this is a legal conforming use - no Use Permits required.
The "Oldest House in Alameda" 22nd City Historical Monument, since 1854, shipped around the Cape Horn designed by Andrew Jackson Downing. Large coastal redwood trees and California live oak create a very unique setting in this east end property. We have been hosting High Tea and Dinners daily as well as weddings and receptions. Owners retiring after 25 years. We are only the second owners. Chance of a lifetime! Call 510-523-9697 for a private showing.
Versailles Ave at Encinal Ave (google map) (yahoo map)
- it's NOT ok to contact this poster with services or other commercial interests
"Live where you work"? How many people who can afford a $1.4M house work in Alameda?
"Only the second owners"? Let's do a little math. "After 25 years" means the house was purchased in 1984. Since it was built in 1854, the previous, original owner was at least 150 years old when they sold (assuming they were at least 20 years old when they bought the house new). That's another seriously old seller. The weather on the island must be very good for one's health and longevity.
Oh, and it didn't sell at $1,395,000, and nobody bid on it at the auction even though it started at $595,000. So what exactly makes you think it'll go this time around?
To my surprise, an old favorite that failed to sell for the longest time is now back on the market. 1600 Dayton has the following specs:
or:
The neighborhood is about as good as it gets, and while it's not my cuppa architecturally speaking, it might actually sell this time around, assuming it's structurally sound (one of the issues with another very large property that remains unsold after multiple large price drops, in addition to its owner's questionable ethics, was its giant brick foundation and a lot of "deferred maintenance" on the roof and various other parts). The one thing I vaguely remember from one of Dayton's prior incarnations was some truly hideous wood paneling in one of the rooms, but it shouldn't incur too big a penalty.
Thanks for the well wishes, everyone.
6 bedrooms, 4 1/2 bathrooms, 4,000 sqft, 9,555-sqft lot, MLS(r) #40408137, $1,799,000At $1.8M ($450 / sqft) it's getting closer to the price it needs to be for a high-end mansion type, although it's still a mighty big check to write. It's certainly priced better today than it was the last few times it was listed:
Gold Coast Estate-1928 Original owner, custom. Sunken LR, outstanding craftsmanship. New Kitchen, new appliances. [...] natural wood entry, french doors, gothic touches, hardwood floors. [...]
or:
Property History for 1600 DAYTON Ave
| Date | Event | Price |
|---|---|---|
| May 04, 2009 | Listed | $1,799,000 |
| Dec 16, 2008 | Delisted | * |
| Sep 29, 2008 | Price Changed | * |
| Mar 25, 2008 | Price Changed | * |
| Jan 02, 2008 | Listed | * |
| Jul 07, 2007 | Listed | * |
The neighborhood is about as good as it gets, and while it's not my cuppa architecturally speaking, it might actually sell this time around, assuming it's structurally sound (one of the issues with another very large property that remains unsold after multiple large price drops, in addition to its owner's questionable ethics, was its giant brick foundation and a lot of "deferred maintenance" on the roof and various other parts). The one thing I vaguely remember from one of Dayton's prior incarnations was some truly hideous wood paneling in one of the rooms, but it shouldn't incur too big a penalty.
Thanks for the well wishes, everyone.Update 9/29/09: Finally sold for $1,622,500.
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