Results tagged “Bryant” from Knife Catchers

Somehow, in the tsunami of Bayport houses coming back on the market in great distress just two or three years after they were first built, I missed 268 Bryant. I won't bore anybody with a long discussion and stick to the facts.

5 bedrooms, 4 bathrooms, 3,743 sqft, 5,381-sqft lot, MLS(r) 40425512, $975,000

Entering through the elegantly arched front doorway and beautiful entry with soaring ceilings and welcoming living room you know you are home! Sophisticated, tranquil and spacious, [...] exquisite residence [...]

This property was listed about 3 months ago for $998,000 and recently dropped a hair to $975,000.

It was first sold in 2005 for $1,071,000, and given the competition just around the corner, I don't see how it can possibly sell for near asking.

The great unwinding of the Bayport complex is continuing apace. Today's "esquisite" McMansion at 311 Bryant, which has been on the market for almost two months already, has the following specs:

4 bedrooms, 3 bathrooms, 3,149 sqft, 3,977-sqft lot, MLS(r) #40421484, $955,000

Come and enjoy luxuary living at its best [...] over 100K in upgrades. Hickory Espresso Hardwood floors, granite Counter in Kit. / Cherry Cabinet with Mahogany finish. [...] Surround sound & much, much more.

The Craigslist post is a tad more lyrical, with the randomly capitalized words that sell houses faster:
 

This Italian Malpeque Plan 9 with Approx. 3,149 Sq. Ft. is part of the Cove Collection, 4 bedrooms, 3 baths. It is located within Alameda’s newest Community, Bayport of Alameda. This home features classic architectural design with a multitude of upgrades to satisfy the most sophisticated discriminating buyers. Upgrades start with the Front Door that leads into the upgraded Hickory Espresso Hardwood Floors, beautiful arched doorways throughout, Plantation shutters, Crown Molding, Upgraded gourmet kitchen, with Stainless Steel appliances, Granite countertops, Cherry Cabinets with Old World Mahogany Finish. Family Room comes with a Fireplace & build-in Media Center that leads to a finished and landscaped backyard. Upstairs enjoy the loft with a build-in Media center and a secluded state of the art master suite and master bath with a deep jetted tub that leads to a large walk-in closet.

This monument to decadence and excess has one of the most obscenely tricked-out kitchens I have ever seen:

It will not surprise anyone to read the initial buyers spent way too much in 2005:

Property History for 311 Bryant Ave

Date	Event	Price
Sep 04, 2009	Price Changed	$955,000
Aug 12, 2009	Price Changed	$975,000
Jul 25, 2009	Listed	$995,000
Jun 17, 2005	Sold	$1,017,500

Unfortunately, for this thing to have a shot at competing with the glut of Bayport houses for sale, the price needs to drop significantly more than it has.

Note to Bill and Griselda: it's spelled exquisite with an 'x'.

I harbor nothing but loathing for the (admittedly well-built) monstrosities that have flourished like kudzu out of the barren, infected soil of the west side for the past five years. They have no personality or yards (unless you count a spot to pitch your grill and a small-dog run as a yard), but they sport humongous floor plans, obscene kitchen and bathroom appointments, and price tags to match.

Thankfully, a lot of the investors idiots who bought into that development in the mid-2000s are losing their shirts.

This week, not one, not two, but three such monuments to housing bubbliness came on the market.

258 Bryant Avenue is by far the largest:

4 bedrooms, 3 1/2 bathrooms, 3,453 sqft, 5,162-sqft lot, MLS(r) #40426136, $975,000

It joins a chorus of other large houses on Bryant that have appeared on the market at various points in the past year or two:

• 410 Bryant (listed at $889,000, sold for $852,000, $6,500 less than its previous sale price, not counting commissions)
• 310 Bryant (listed at $799,000 last March, still unsold as far as I can tell)
• 350 Bryant (listed at $929,000 in late 2008, sold for $805,000 last Spring, a $51,500 loss v. its previous price before commissions)
  

258 Bryant is on its way to match its neighbors' performance--even if it sells at full price, the commissions guarantee a loss for the seller.

Property History for 258 BRYANT Ave

Date	Event	Price
Aug 24, 2009	Listed	$975,000
Nov 16, 2005	Sold	$956,000

2408 Coral Sea Street is a bit smaller, but still boasts 4 bedrooms and a "nice park close" by, which is handy to supplement the minuscule lot:

4 bedrooms, 2 1/2 bathrooms, 2,925 sqft, 3,760-sqft lot, MLS(r) #40426155, $737,550

[...] built in 2006. It sits near College of Alameda among a group of homes all recently built. Very spacious with living room, family room, large kitchen, courtyard off of dining room, laundry room, master bath suite. [...] nice park close to the house.

The funny non-round price is due to a rather checkered past:

Property History for 2408 CORAL SEA St

Date	Event	Price
Aug 24, 2009	Listed	$737,550
Dec 01, 2006	Sold	$567,000
Mar 23, 2006	Sold	$1,002,000

It, too, has neighbors in rather less than stellar shape:

• 2438 Coral Sea Street tried to sell itself numerous times and finally sold last spring for $750,000, $300,000 less than its initial list price in early 2008 and $230,000 less than its previous sale price in 2006. Blam.
  
• 2418 Coral Sea Street did too but still hasn't sold as far as I can tell.

Lastly, 238 Hollister Street, the smallest of the bunch. It "needs a new owner," evidently because the old one didn't work out too well. I wonder why a kitchen would need to be updated in a house built just 4 years ago.

3 bedrooms, 2 1/2 bathrooms, 2,361 sqft, 3,462-sqft lot, MLS(r) #40426267, $682,605

Move in Ready [...] updated kitchen, just needs a new owner to call this place home

Its price is also an amusing reflection of its owners' exceptional financial savvy:

Property History for 238 HOLLISTER Ave

Date	Event	Price
Aug 25, 2009	Listed	$682,605
Jun 02, 2009	Sold	$747,505
Dec 16, 2005	Sold	$832,000

One of its neighbors appeared to be having some trouble deciding what to do last October:

• 398 Hollister Avenue tried to sell itself for $787,000, then rent itself for $3,500 / month. Unsold as of 8/30/09.
  

So much for home ownership promoting neighborhood stability.

Update 9/28/09: 2408 Coral Sea sold for $688,500.

It was last sold right when it was built:

Last sale and tax info

Sold 09/14/2004: $858,500

2008 Property Tax: $11,934

The pricing strategy appears to be something along the lines of "We're not losing money on this! Let's get a pair of agents who will share a 4% commission and we can break even."

It looks great if you like huge new McMansions that look the same on tiny lots with nice, straight new sidewalks and minuscule green spaces whose personality gets brutally manicured out of them on a regular basis.

Update 8/30/09: Sold for $852,000, less than its 2004 price.

A side effect of completing a sold-out housing development at the top of a housing bubble is that, when the market turns sour, an entire subdivision is underwater all at once. This week's McMansionette at 310 Bryant Ave has the following specs:

4 bedrooms, 2 1/2 bathrooms, 2,925 sqft, 4,013-sqft lot, MLS(r) #40400068, $799,000

Master developmnt [...] W/ Newer elementary Sch. Spacious Private sunny courtyard & backyard w/ morning & afternoon sun. [...] Extra large master suite. [...] Formal dining rm w/ spacious kitchen & lots of cabinets. Big family Rm. Anderson window.

The sale history might be a lesson for future buyers:

Property History for 310 BRYANT Ave

Date	Event	Price
Mar 14, 2009	Listed	$799,000
Aug 19, 2005	Sold	$861,000

But we know all too well home buyers aren't exactly the most prudent type, so somebody will probably think this is a great bargain at $273 / sqft and buy it near list price in the worst down market in US history. Oh well.

 

Not much grows on the ugly west side of this lovely island, probably due to its recent past as a contaminated military base. Other than McMansions, that is. Today's huge property has the following specs:

4 bedrooms, 3 bathrooms, 3,179 sqft, 4,160-sqft lot, MLS(r) #40380296, $929,000
(public records say 3 bedrooms, 2 1/2 bathrooms)

[...] highly sought after Plan 9 [...] features a dramatic entry w/vaulted ceilings and exterior balcony. [...] beautifully upgraded w/ granite counters, maple cabinetry, upgraded flooring, [...] Developer has SOLD OUT of this model!

There isn't much land around this thing, and it makes you wonder how exactly the 3,179 sqft is used--is every bedroom a 25x25 ballroom?

Look on the bright side of life, though--this is a sought-after, sold-out model! I wonder if they'll throw in the de rigueur SUV (or truck) parked in front.

The sale history suggests the seller is expecting to get out from under this anvil with some money left in the bank, maybe so they can make the payments on that shiny black Armada with alloy wheels:

Last sale and tax info

Sold 04/07/2005: $856,500

2008 Property Tax: $11,892

But who knows, maybe that price doesn't include the "upgrades" and they're already upside down after agent commission.

There's a special place in hell for folks who build, buy and sell these monstrosities. They're going to be in good company.

Update 12/28/08: Price dropped to $909,000 a week before Christmas.