Sunday, May 26, 2013

KnifeCatching 1304 Morton St. Again and Again and Again....

Read This:The following review is just my opinion and only my opinion I am not a professional house appraiser or inspector and I am not a structural engineer. The opinions expressed in this review are based on my own inspection of the property, the publicly available facts from aggregator sites such as Redfin and Zillow and the online permit database for the city of Alameda. I am not responsible for incorrect or missing data that appears in these sources. In fact, its probably best that you just ignore everything you read here as the lunatic ravings of an unbalanced mind.

It's baaaaaaaaaaaaaaaaack!!!!! again, and again, and again and again....

KnifeCatching 1304 Morton St. Revisited.


My initial review of 1304 Morton St. can be found here.
Then my re-review can be seen here.

Up for review today is 1304 Morton St. which has the official specs of being a 4-0 of 2064sq ft on a nice sized 5513 sq ft lot built in 1895 on sale for.....wait for it.......$979k!!!!!

No I'm not actually going to review this house again....according to the records nothing has changed on the place. They increased the price by almost $100k and now its pending after only being on the market for 7 days!!!

Yay Crazy Alameda Bubble!
One important point from the earlier review.
Still Has Unpermitted Work Issues:
So yes, it appears that someone narc'd on the homeowner for the unpermitted work in what was the basement... (wasn't me honest). Luckily the HO was already talking to the city about getting the work permitted so they dodged the whole code enforcement super expensive bullet but the work still has to be 'normalized'.

A quick check of the building dept records is encouraging. The owner got planning approval to officially convert the house back to a single family and got the planning okay for the work already done in the basement area.

The records show that the HO has entered into the amnesty program and paid the fees to start that. What that gets you is an inspection by a building inspector who will tell you what needs to be done to legalize the space.

As far as I can tell this has not officially happened yet. The permit is not finaled. I hope whomever the soon to be new owner is gets this taken care of as part of escrow or else they are buying a lot of liability for $979k.

Conclusion
If the permit issues are taken care of and the house actually sells for anywhere near asking...in this market I'd have to say this represents a 'deal'
Ya, I know, you never thought you'd hear that coming from me.
 

1 comment:

Anonymous said...

Places like this increase their price by 100K and get offers and yet our neighbor's place at 401 Camden Rd. didn't sell in the months it was recently listed? Craziness!