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Posted: 4/19/2017 6:30:34 PM EDT



Housing Bubble 2


Peeling paint, rotting wood, unfinished ceilings and torn-up linoleum didn't stop prospective homebuyers from making an offer on a ramshackle Rockridge abode.

The teardown at 383 60th St. sold for a quarter-million over asking on Friday after receiving 19 offers.

The one-bedroom, two-bath bungalow built in 1905 went on the market in March for $495,000 and sold last week at $755,000.

Pics at link: left cold lib paper;

http://www.sfgate.com/realestate/article/Rockridge-teardown-real-estate-Oakland-19-offers-11083945.php#photo-12560539



ETA Trulia pics added
Link Posted: 4/19/2017 6:36:36 PM EDT
[#1]
Californians be stupid yo.
Link Posted: 4/19/2017 6:40:06 PM EDT
[#3]
Quoted:

Housing Bubble 2
Peeling paint, rotting wood, unfinished ceilings and torn-up linoleum didn't stop prospective homebuyers from making an offer on a ramshackle Rockridge abode.
The teardown at 383 60th St. sold for a quarter-million over asking on Friday after receiving 19 offers.
The one-bedroom, two-bath bungalow built in 1905 went on the market in March for $495,000 and sold last week at $755,000.
Pics at link: left cold lib paper;
http://www.sfgate.com/realestate/article/Rockridge-teardown-real-estate-Oakland-19-offers-11083945.php#photo-12560539
ETA Trulia pics added
View Quote
There would be two kinds of buyers.
One who buys it, tears it down, builds a new home and sells it.
Then, the other kind would buy it, tear it down, build a new home and live in it.
Link Posted: 4/19/2017 6:40:39 PM EDT
[#4]
Wow.


The bathroom is nice.
Link Posted: 4/19/2017 6:42:35 PM EDT
[#5]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
$755k here would buy you a small mansion.
View Quote
That could probably buy my whole town!  
Link Posted: 4/19/2017 6:45:20 PM EDT
[#6]
That price could get you some nice land and house out here or a damn nice house in the suburbs of Cleveland.
Link Posted: 4/19/2017 6:48:16 PM EDT
[#7]
$755k would buy Jackson.
Link Posted: 4/19/2017 6:48:37 PM EDT
[#8]
If I had that kind of money, it's a rehab, not a tear down.
Link Posted: 4/19/2017 6:50:01 PM EDT
[#9]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Californians be stupid yo.
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So much wisdom in so few words.
Link Posted: 4/19/2017 6:51:21 PM EDT
[#10]
Half-size lot?

Oaklandia.

Coming soon.
Link Posted: 4/19/2017 6:52:29 PM EDT
[#11]
Discussion ForumsJump to Quoted PostQuote History
Shit, 750k would buy me a nice sized place near the water on a Caribbean Island like oh say Bonaire with some money to spare.
Link Posted: 4/19/2017 6:52:45 PM EDT
[#12]
It's walking distance from a bunch of expensive restaurants, a Trader Joe's, and BART (train system that serves the SF area).

Everything some techie working in SF could want.
Link Posted: 4/19/2017 6:55:48 PM EDT
[#13]
You said 1br 2 bath.  The link says 3 br 1 bath.  Is that the right link?
Link Posted: 4/19/2017 6:56:11 PM EDT
[#14]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
That price could get you some nice land and house out here or a damn nice house in the suburbs of Cleveland.
View Quote
Yeah, but then you are stuck living in some less desirable state like OH, OK, MS etc.
Link Posted: 4/19/2017 6:56:53 PM EDT
[#15]
what the hells up with the bathroom?  Looks clean and modern compared to the rest of the shithole
Link Posted: 4/19/2017 6:57:31 PM EDT
[#16]
Link Posted: 4/19/2017 7:02:57 PM EDT
[#17]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


Yeah, but then you are stuck living in some less desirable state like OH, OK, MS etc.
View Quote
Less desirable than San Francisco, CA?

seriously would move back to NJ first.
Link Posted: 4/19/2017 7:03:52 PM EDT
[#18]
Location, location, location....  I guess.

Around here that would be sold for taxes, AS IS.

Side note.  A few weeks ago they (the city) were putting a house up for taxes.  They had to do a walk through and take pictures.  Yep, you guessed it, dead body inside.  Turned out the be the owner of the house.  80+ years old, lived alone, died in his recliner and no one missed him.

He had been dead for at least 3 years.
Link Posted: 4/19/2017 7:05:33 PM EDT
[#19]
Well, $50k under that will get you this 6,500 sqft beauty on 5 acres in my AO. So....

This
Link Posted: 4/19/2017 7:07:21 PM EDT
[#20]
The realtor who listed that house for $495K knew it would sell for hundreds of thousands more.  It was designed to attract buyers and initiate the bidding war that happened.

Everything in that neighborhood is 1-2 million dollars and has been that way for over a decade.
Link Posted: 4/19/2017 7:12:40 PM EDT
[#21]
McMansion time
Link Posted: 4/19/2017 7:15:29 PM EDT
[#22]
Insanity, but than again their are loons in NYC who pay that and more for a parking space.
Link Posted: 4/19/2017 7:16:27 PM EDT
[#23]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Less desirable than San Francisco, CA?

seriously would move back to NJ first.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:


Yeah, but then you are stuck living in some less desirable state like OH, OK, MS etc.
Less desirable than San Francisco, CA?

seriously would move back to NJ first.
San Fran or some boring, relatively featureless state east of the Rockies? Tough choice...

Good thing there are other alternatives.
Link Posted: 4/19/2017 7:32:06 PM EDT
[#24]
I've watched them move to Texas and create the same markets. It's insane.
Link Posted: 4/19/2017 7:33:06 PM EDT
[#25]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


San Fran or some boring, relatively featureless state east of the Rockies? Tough choice...

Good thing there are other alternatives.
View Quote
I was wondering if you are an idiot. Thanks for settling it for me.
Link Posted: 4/19/2017 7:39:27 PM EDT
[#26]
Location is key.

Huge house for sale in detoilet for 1k.

http://m.huffpost.com/us/entry/5310936
Link Posted: 4/19/2017 7:40:49 PM EDT
[#27]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
San Fran a communist hell-hole or some boring constitution observant, relatively featureless state east of the Rockies? Tough choice...

Good thing there are other alternatives.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Quoted:


Yeah, but then you are stuck living in some less desirable state like OH, OK, MS etc.
Less desirable than San Francisco, CA?

seriously would move back to NJ first.
San Fran a communist hell-hole or some boring constitution observant, relatively featureless state east of the Rockies? Tough choice...

Good thing there are other alternatives.
FIFY
Link Posted: 4/19/2017 7:53:10 PM EDT
[#28]
I've seen way worse rehabbed.
Link Posted: 4/19/2017 7:59:17 PM EDT
[#29]
Discussion ForumsJump to Quoted PostQuote History
Quoted:


I was wondering if you are an idiot. Thanks for settling it for me.
View Quote
I almost wasted a mouth full of beer on that . My phone thanks you.
Link Posted: 4/19/2017 8:51:53 PM EDT
[#30]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
I was wondering if you are an idiot. Thanks for settling it for me.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:


San Fran or some boring, relatively featureless state east of the Rockies? Tough choice...

Good thing there are other alternatives.
I was wondering if you are an idiot. Thanks for settling it for me.
Link Posted: 4/19/2017 9:13:40 PM EDT
[#31]
Taken part in a few of these types of deals in W. Seattle. The ones that I was going for, the agent was dumb as a box of rocks and didn't understand zoning and density requirements. One of my friends (also competitors) got one of them, and the Seattle Times did an article about the house. He flat out said the listing agent was under qualified and didn't do his client justice.

Meh :)
Link Posted: 4/19/2017 9:20:09 PM EDT
[#32]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
There would be two kinds of buyers.
One who buys it, tears it down, builds a new home and sells it.
Then, the other kind would buy it, tear it down, build a new home and live in it.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:

Housing Bubble 2
Peeling paint, rotting wood, unfinished ceilings and torn-up linoleum didn't stop prospective homebuyers from making an offer on a ramshackle Rockridge abode.
The teardown at 383 60th St. sold for a quarter-million over asking on Friday after receiving 19 offers.
The one-bedroom, two-bath bungalow built in 1905 went on the market in March for $495,000 and sold last week at $755,000.
Pics at link: left cold lib paper;
http://www.sfgate.com/realestate/article/Rockridge-teardown-real-estate-Oakland-19-offers-11083945.php#photo-12560539
ETA Trulia pics added
There would be two kinds of buyers.
One who buys it, tears it down, builds a new home and sells it.
Then, the other kind would buy it, tear it down, build a new home and live in it.
You have forgotten the 3rd type. The one who buys it, slaps up some drywall, splits it to two units and rents it as a slumlord.
Link Posted: 4/19/2017 9:27:38 PM EDT
[#33]
How the hell does someone pay more than asking? Ud think the first asshole who was like oh hey ill give u blah blah blah would have got it
Link Posted: 4/19/2017 9:32:04 PM EDT
[#34]
It sold for 97k 20 years ago
Link Posted: 4/19/2017 10:40:36 PM EDT
[#35]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
FIFY
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View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Quoted:
Quoted:


Yeah, but then you are stuck living in some less desirable state like OH, OK, MS etc.
Less desirable than San Francisco, CA?

seriously would move back to NJ first.
San Fran a communist hell-hole or some boring constitution observant, relatively featureless state east of the Rockies? Tough choice...

Good thing there are other alternatives.
FIFY
Like I said, tough choice. Big sacrifice in quality of life either way.
Link Posted: 4/19/2017 11:13:40 PM EDT
[#36]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Yeah, but then you are stuck living in some less desirable state like OH, OK, MS etc.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
That price could get you some nice land and house out here or a damn nice house in the suburbs of Cleveland.
Yeah, but then you are stuck living in some less desirable state like OH, OK, MS etc.
Maybe less desirable in your mind and I wonder what you really know about them.  Keep in mind that those 3 states were pivotal in getting a conservative majority in not only the WH, but the Senate, Congress, Scotus and helped take over 1000 house/sendate and governorships across the states too. But your state didn't help

Washington is only one step away from being Cali (since they are all moving there).  And while it may be beautiful in some ways, Washington state gets uglier all the time to me.
Link Posted: 4/19/2017 11:24:21 PM EDT
[#37]
Link Posted: 4/19/2017 11:25:44 PM EDT
[#38]
Given it's a democrat controlled city, they probably have housing moratoriums, which messes with the pricing
Link Posted: 4/20/2017 12:02:20 AM EDT
[#39]
That is Oakland, not SF, or SJ, shit hole city with a huge price.
Link Posted: 4/20/2017 12:05:10 AM EDT
[#40]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Californians be stupid yo.
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Except its people moving here from Texas.
Link Posted: 4/20/2017 12:07:11 AM EDT
[#41]
Link Posted: 4/20/2017 12:13:42 AM EDT
[#42]
Link Posted: 4/20/2017 12:16:59 AM EDT
[#44]
Link Posted: 4/20/2017 12:24:15 AM EDT
[#45]
Discussion ForumsJump to Quoted PostQuote History
Quoted:

I'm ready to move

Clicking on the links these homes look brand new and are empty?
View Quote
How in the hell do property taxes work in Oklahoma?

$8871 on an assessed value of $73K?

$9708 6 years earlier on an assessed value of $80K?
Link Posted: 4/20/2017 12:24:27 AM EDT
[#46]
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Quoted:
Except its people moving here from Texas.
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Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Californians be stupid yo.
Except its people moving here from Texas.
No joke. In 47 years I don't think I have seen 20 Texas plates but with in the past year I see 2 to 3 Texas plates a day here.
Link Posted: 4/20/2017 12:29:40 AM EDT
[#47]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
How the hell does someone pay more than asking? Ud think the first asshole who was like oh hey ill give u blah blah blah would have got it
View Quote
Conditional offer at asking price, contingent on financing/inspection etc. Seller says Ill think about it for 48 hrs and give you answer while you get your shit together.

Realtor tells next buyers agent they have an offer, buyers agent then offers $10k more with conditions such as needing to move within the next 10 days, willing to pay rent while deal is pending.  

Sellers agent calls offer #1 and kets them know someone else wants it for more, fewer conditions, care to change your offer?

My foreman listed his house for sale last week, not accepting offers for the first 48 hrs, open house last Sat/Sun, showing by appointment. Only 4bd house in his school district for sale under $400k. Asking price was $335k  IIRC. Said today at lunch the current offer is $344k, realtor expects itll hit $370k
He already bought a house in NC near his folks for $65k and is ready to sell and move.
Link Posted: 4/20/2017 12:31:39 AM EDT
[#48]
I told my wife if we could just move our 4.5 acres and house to Comifornia we could sell it and retire.
Link Posted: 4/20/2017 1:32:32 AM EDT
[#49]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Maybe less desirable in your mind and I wonder what you really know about them.  Keep in mind that those 3 states were pivotal in getting a conservative majority in not only the WH, but the Senate, Congress, Scotus and helped take over 1000 house/sendate and governorships across the states too. But your state didn't help

Washington is only one step away from being Cali (since they are all moving there).  And while it may be beautiful in some ways, Washington state gets uglier all the time to me.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
Quoted:
That price could get you some nice land and house out here or a damn nice house in the suburbs of Cleveland.
Yeah, but then you are stuck living in some less desirable state like OH, OK, MS etc.
Maybe less desirable in your mind and I wonder what you really know about them.  Keep in mind that those 3 states were pivotal in getting a conservative majority in not only the WH, but the Senate, Congress, Scotus and helped take over 1000 house/sendate and governorships across the states too. But your state didn't help

Washington is only one step away from being Cali (since they are all moving there).  And while it may be beautiful in some ways, Washington state gets uglier all the time to me.
It's not like a typical conservative there personally did anything more than a typical conservative here did. And your state voted for Clinton and Obama both twice. So you are only a step or two behind us. Welcome to the club, pal. That's the worst of both worlds. So-so geography/outdoor activities and so-so politics. But at least houses are cheap there.
Link Posted: 4/20/2017 1:35:16 AM EDT
[#50]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Conditional offer at asking price, contingent on financing/inspection etc. Seller says Ill think about it for 48 hrs and give you answer while you get your shit together.

Realtor tells next buyers agent they have an offer, buyers agent then offers $10k more with conditions such as needing to move within the next 10 days, willing to pay rent while deal is pending.  

Sellers agent calls offer #1 and kets them know someone else wants it for more, fewer conditions, care to change your offer?

My foreman listed his house for sale last week, not accepting offers for the first 48 hrs, open house last Sat/Sun, showing by appointment. Only 4bd house in his school district for sale under $400k. Asking price was $335k  IIRC. Said today at lunch the current offer is $344k, realtor expects itll hit $370k
He already bought a house in NC near his folks for $65k and is ready to sell and move.
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
How the hell does someone pay more than asking? Ud think the first asshole who was like oh hey ill give u blah blah blah would have got it
Conditional offer at asking price, contingent on financing/inspection etc. Seller says Ill think about it for 48 hrs and give you answer while you get your shit together.

Realtor tells next buyers agent they have an offer, buyers agent then offers $10k more with conditions such as needing to move within the next 10 days, willing to pay rent while deal is pending.  

Sellers agent calls offer #1 and kets them know someone else wants it for more, fewer conditions, care to change your offer?

My foreman listed his house for sale last week, not accepting offers for the first 48 hrs, open house last Sat/Sun, showing by appointment. Only 4bd house in his school district for sale under $400k. Asking price was $335k  IIRC. Said today at lunch the current offer is $344k, realtor expects itll hit $370k
He already bought a house in NC near his folks for $65k and is ready to sell and move.
Yup. The market here is batshit crazy.
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