Thursday, January 15, 2015

Knife Catching 1187 Regent St.

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.

I thought the last place was bad but this place takes the cake.


1187 Regent St, Alameda, CA 94501

2 beds1 bath1,092 sqft     

$774,900
Zestimate®: $620,513    
 
Ron Pilgrim - Agt: (925) 584-7214 - Beautiful curb appeal. Large eat-in kitchen, tile counters, SS range and hood, a lot of storage. Large bedrooms with shared updated bath. Family room and formal room w/built-ins. 2 pane windows, electrical updated. Street level has a garage, laundry room, storage area, workshop. Nice backyard patio.

Facts

  • Lot: 4,415 sqft
  • Single Family
  • Built in 1895
  • 8 days on Zillow
  • Cooling: Central
  • Heating: Forced air
  • Price/sqft: $710
  • MLS #: 40683379
What do y'all think? Is it going to sell like a hotcake?
Really, $774,900 for a 1100sq ft 2-1........REALLY!!!
What in tarnation is going on here?
If this place sells I'll know the bubble is popping. 

GAH!!!! $775k for 1100sqft......GAH!!!!!

Update
HOLY CRAP THE PLACE IS PENDING ALREADY!!!!
OKAY FOLKS IF THIS ISNT EVIDENCE THAT WE ARE
IN A CRAZY BUBBLE I DON'T KNOW WHAT IS.


PENDING, WHO WOULDA THUNK IT!?!?!?!?!?!?

2 comments:

Ragnar said...

The most shocking thing to me is how close European prices have come to that!

Property in Vienna, Austria where I live tended to be considerably cheaper than in expensive US locations but nowadays the prices you consider horribly inflated aren't much higher than what I'm seeing here!

Or what do you think about a 1600 sq. ft. condo just above an English basement, facing north onto a busy street with tall houses for roughly $700k?

Granted, the place was lovely with its original ca. 1900 interior (beautiful panel doors and solid 1" thick oak herringbone floors) but for 4 rooms + hall and kitchen and one bath (one of the rooms facing south but onto a tiny breeze yard) the price still seems outrageous!

A friend of mine paid close to 500k for a flipped condo that was around 1100 sq. feet and some 30 of that were in a glorified insulated garden shed! The only bonus was a private garden almost the size of the condo itself (minus the shed of course).

The conversions are just off the top of my head, if you want to do your own, the first place was 140 sq. m. and €545k and the second place was 100 sq. m. (20 in the outbuilding, advertised as an ideal office) for 350k.

And the worst of it, it does seem like there's a real demand behind these prices, not a random bubble!

At those rates, renting is most definitely cheaper around here, especially if you don't mind working-class neighbourhoods!

Paul said...

I love these "Knifecatching" posts. I was looking to move from a rent controlled apartment in SF over to Alameda, but have put my search on hold because of the high valuations on single family homes at the moment. Your blog is extremely resourceful for me and I've learned so much about what to look out for in buying an Alameda home. Please keep them coming! Thanks for taking the time to post these - Paul.