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HydroCabron
2013 Sep 3, 2:01pm
Is there no end to the supply of stereotypical Chindian billionaires?
Its a nice house don't get me wrong. But a house a block over which is sightly larger is selling for 650,000 with no takers. The exterior is not as nice the interior needs a kitchen etc. The house is worth in my option about 500,000-600,000. So this person is underwater on day one of home ownership.
This is a duplex, not a single family house. Also, Piedmont is not part of Oakland, it is a separate city.
Its a nice house don't get me wrong. But a house a block over which is sightly larger is selling for 650,000 with no takers. The exterior is not as nice the interior needs a kitchen etc. The house is worth in my option about 500,000-600,000. So this person is underwater on day one of home ownership.
come on now. can't be underwater if it was paid with cash. /sarcasm
http://www.redfin.com/CA/Oakland/747-61st-St-94609/home/531052
Asking price on this house was 700,000 in 2007 which is basically the peak of the housing bubble. It sold for 721,000 in jan 2008. It was listed for 745,000 which in my option is over priced for this part of oakland. The house just sold for 875,000 which is 130,000 thousand dollars over asking. Note this is an ok part of oakland we are not talking rockridge or piedmont. This is amazing.
#housing