5309 Shafter Ave, Oakland, CA 94618
By genesplitter Follow Thu, 19 May 2011, 3:14pm 817 views 9 comments
In Oakland CA 94618
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Oakland, CA
genesplitter's website
This 2/1 is down the street from us. Apparently is was sold last month, although there was no "for sale" sign (records show it sold in zero days). It also sold for $880,000, which is nearly $300,000 more than my 2/1 a block away. Does anyone know why this house would sell for the equivalent of $769 / sq foot?
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It is not a 2/1 any longer. They added another "Dwell-style" structure -- apparently 450 sqft office with half-bath, so it's not useful as an in-law. It looks like the agent wanted to report the sale on MLS as "$15K above asking and sold in 5 days," even though it was an off-market sale. With the extra square footage, it's closer to $550/sqft.
http://www.redfin.com/CA/Oakland/Undisclosed-address-94618/home/1698771
It's also awesome that the realtor's name is Marvin Gardens Real Estate. :)
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duuuuuuuuude it's rockridge. it should've sold for 2.5million!
all joking aside, it never ceases to amaze me what people are willing to pay to live in rockridge.
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i mean have you seen that development by alcatraz and benvenue? great location, i used to live on hillegass, but i mean come on, 1 million bucks so you can share a driveway with 6 other homes and literally reach out your window and touch your neighbors house?
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Oakland, CA
genesplitter's website
The 450 sqft office addition partly clears this up, although as a Rockridge resident I think $880K for this 2/1 is still crazy, and why zero days on market?
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genesplitter says
Read further in my original response. It was never really on MLS. If you look at Redfin, it was sold on April 7 per public records. Then the realtor posted it on MLS on April 9 and marked it sold on April 14, so it would look like the house sold $15K over asking in 5 days. The MLS listing is fake, "for comp purposes," fake comp purposes, that is.
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Oakland, CA
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Oh, now I get it. It's "better" if Rockridge prices keep their "value". This will help when the next 2/1 gets sold, hopefully for a similar price. (help the seller that is). Zillow seems to show a dozen homes in pre-foreclosure and two normally listed homes for sale. Something just doesn't smell right here.
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Someone got shafted if they actually paid that
Here is an arguably better comp with 4 bedrooms:
http://www.redfin.com/CA/Oakland/6107-S-Rockridge-Blvd-94618/home/1817533
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totallyscrewed -- what's interesting about 6107 S Rockridge Blvd is that it's the listing agent for 5309 Shafter was the buying agent, and the selling agency for 5309 Shafter was the listing agency.
I don't disagree with your premise, but it's far easier to walk to Rockridge BART, restaurants, and other businesses from 5309 Shafter.
genesplitter -- realtors will often put off-market sales on MLS "for comp purposes," but they usually do it more often when it's a favorable comp, rather than when it's an unfavorable comp. You do have to watch for shenanigans. The most extreme example was on SocketSite -- 2041 Sacramento, where the listing agent fraudulently listed a sale $1.95M, when in reality the property never sold and was being foreclosed at $1.88M:
http://www.socketsite.com/archives/2010/10/while_the_mls_reports_a_sale_public_records_report_a_fo.html