October 24, 2011

Please show with extreme caution

We’ve spent far too long with overpriced real estate in Google’s back yard.

Let’s return to the other City By the Bay (San Pablo Bay), and see what bargains are to be had in Vallejo real estate.  Thanks very much to Burbed reader Scott for sending in today’s featured house.

 

1115 Lewis Ave, Vallejo, CA 94591
$11,500

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BEDS: 4
BATHS: 2
SQ. FT.: 1,860
$/SQ. FT.: $6
LOT SIZE: 0.28 Acres
PROPERTY TYPE: Residential, Detached, Single Family
STORIES: 1
YEAR BUILT: 1959
COMMUNITY: Vallejo
COUNTY: Solano
MLS#: 21127170
SOURCE: BAREIS
STATUS: Active
ON REDFIN: 5 days

This property has been partially burned and is not habitable. No roof, electrical or plumbing. Please show with extreme caution.

imageIf you haven’t already read Michael Lewis’ “California and Bust,” on how our state and municipal budgets are doing in today’s economy, I strongly recommend it to you.  He closes his look at Golden State finances with a look at the bankrupt city of Vallejo.  To say city services have been cut would be like describing strip-mining as thinning.  In his meeting with City Manager Phil Batchelor, Lewis mentions there is one other employee; when she takes a break she has to lock up the entire office because nobody else is there.

“Do you know that some cities actually pave their streets?” says Batchelor. “That’s not here.”

Maybe that explains why, if the value is in the quarter acre of land, that the value barely heads into five figures.  At these fire sale prices, you can rebuild or scrape it down!  Heck, you can rebuild AND scrape it down, then build something else! So many possibilities!

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Comments (17) -- Posted by: madhaus @ 5:02 am

17 Responses to “Please show with extreme caution”

  1. SEA Says:

    Recall: The value is in the land.

    “Feb 25, 2005 Sold (Public Records) $460,000″

  2. PKamp3 Says:

    Oof. Fire sale prices. Only 1:14 to Mountain View if you work at Google (probably need to have flexible hours for that long shot down the 680).

    I’m excited for the LinkedIn share lockup to expire on November 21st. Maybe those new IPO millionaires will bid Vallejo’s prices up to where they should be?

  3. Tracy Tea House Says:

    Maybe the fire was started by the fence oil?

  4. The Gilroy Alex Says:

    Damn. I could literally show up with cash. I really could.

    Looks like a basement or what would it be called, half-basement? Lower floor? Whatever. I lived in a half-buried level room in Colorado and it was nice. That house may be re-buildable from that level.

    Of course I’d need a fire team. In the Vietnam war sense of the term. Gotta have watches 24/7, someone to do something when Charlie’s on the wire. I know a few homeless guys who might be game, but I dunno how they are with guns. Gotta be able to pot a ‘possum without thinking about it, even if said ‘possum looks humanlike.

    Maybe that’s why it’s only $11k. Xe’s services don’t come cheap.

  5. madhaus Says:

    For this amount you could park two dozen RVs and run a high-volume escort and massage business, without any worries of police interference. Heck, they would welcome the business taxes.

  6. sfbubblebuyer Says:

    Somebody found a way to get their money out of the house. Insurance payout!

  7. Parrhesia Says:

    Alex, we really don’t need any more shooting in this town, nor people who are willing to pull the trigger without thinking about it. This is not a war zone. This is my home. ‘Possums look like ‘possums, and humans look like humans.

    What we need are people who are willing to roll up their sleeves and work at our sides. There really is a lot to love here. If you’re interested, you’ll find that we have a very strong community that welcomes you as you are & neighbors that will help you when times are hard. If you believe that people are vermin, kindly move somewhere else.

  8. The Gilroy Alex Says:

    Parrhesia – first I have no intent to move to Vallejo. Second, a gang member breaking in to do harm to me sure looks like a possum to me! Finally, if you guys are actually getting some community spirit and starting to watch out for each other, it’s about time.

    #5’s RV based cathouse complex sounds like a much better – from a Vallejo viewpoint – use of the place than having a decent citizen move there. So I won’t deprive you of a future job!

  9. SEA Says:

    Are thugs as tasty as possum?

  10. The Gilroy Alex Says:

    They both make good compost.

    As for what possum tastes like, you’ll have to ask the thugs.

  11. ms Says:

    This is the first piece of Detroit I’ve ever seen in even not RBA.
    What made Vallejo this bad?
    What the hell happened in Vallejo? What makes it worse than say Fruitvale or EPA or Watsonville?

  12. * Says:

    went pending yesterday. it’ll be flipped.

  13. madhaus Says:

    ms, did you read the Michael Lewis piece? Vallejo went bankrupt and cut all government services, including half the police and fire departments. There’s too much city for the amount of emergency staff, and everyone knows it, including the criminals.

    That’s why Tracy’s comment in #3 is so funny. Click on the Vallejo tag to find out why.

  14. The Gilroy Alex Says:

    What’s wrong with Vallejo? This.

    http://www.timesheraldonline.com/ci_19176380

  15. AstroWallaby Says:

    Given the current budget trajectories Vallejo’s today is San Jose’s tomorrow.

    (It’s all worth it though, to ensure that fifty year old cops will be able to retire and enjoy their few, only thirty or so, golden years on six-figure pensions just like the ones we all get in the private sector. THEY DESERVE IT. )

  16. ms Says:

    #13, I sure did read the Lewis piece, profoundly disturbing and an outstanding piece of writing.

    I can see how Vallejo got to be “it.” The stoning is like Shirley Jackson’s Lottery in its randomness and the hope that maybe next year, your city won’t be it.

  17. Michelle Says:

    Was a lovely home large upstairs living area, basement and super huge yard. Loved the house, the neighbor hood not kid friendly. It is a true diamond that has been roughed up.


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