June 22, 2007

"Alameda Delusional Flipper"

REALTOR.com: Find a Home – Listing Detail1127 MOUND ST
ALAMEDA, CA 94501
MLS ID# 40271679
$580,000
2 Bed, 1 Bath, 776 Sq. Ft., 0.07 Acres

1127mound.jpg

Single Family Property, Area: Alameda Map Area 1, Subdivision: EAST END, County: Alameda, Approximately 0.07 acre(s), Year Built: 1900, Single story, Garage

Burbed Reader Adam had this to say:

Check out 1127 mound alameda, ca
Delusional floppers at work. I believe it’s the second higest $/sq foot in alameda @ 747 sq foot.

http://www.redfin.com/stingray/do/printable-property?external_id=1803836

http://homes.realtor.com/search/listingdetail.aspx?mlslid=40271679&typ=7&sid=a1ba4d0835d94d2da8ce537060a587a5&lid=1082312633&lsn=1&srcnt=1#Detail

Looks nice huh? Those floppers did a really good job on the outside, what with all that beautiful resin lattice work ($20 a sheet from home depot). I see no reason they shouldn’t expect a 200% return on their investment in a little over a year.

Uh, Adam – Alameda is prime. The sheer fact that it’s in the Bay Area means it deserves returns like that. Now, granted, it’s not as prime as Milpitas, where some houses appreciated $1500+ per day (check back next week to see this!) – but still, it’s special here.

I predict this will double again next year. It’s inevitable especially with the strong job growth here!

Click here to post a comment -- Posted by: burbed @ 4:49 am

No Responses to “"Alameda Delusional Flipper"”

  1. oakbitterrenter Says:

    Now down to 549. Wow, that’s quite a price reduction, these guys must be… stupid to even think that this thing is worth

  2. David Says:

    Now down to 489K. heh.

  3. l. opine Says:

    Hi I’m new here. Found this from a link on a blog linked to from the housing bubble blog. This place is fun.

    I’ve found higher ppsqft in Alameda… See link to my own bubble chronicles.

    http://www.knifecatchers.com

    Cheers!


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