It’s been far too long since we’ve heard from one of our favorite correspondents from the East Bay, Burbed reader A Lewis. A (he says we can still call him A) writes in to let us know that there is still real estate worth following in his favorite city of El Cerrito. Let’s have a look and listen in.
El Cerrito, CA 94530
Sold for $1,200,000
3,441 Sq. Ft.
$349 / Sq. Ft.
Lot Size: 0.54 Acres
Sold On: Apr 19, 2013
County: Contra Costa
Community: Miravista Highls
a classic Colonial Revival on a 1/2 acre estate. Custom built with lavish attention to detail. Features include a 2 story tall portico at the entrance a wide spiral staircase to the upper floor inside, and fabulous access to patios and gardens from various entry level rooms. Ideal for entertaining
Take it away, A!
Update 6:45 pm: A says it’s fine to include the following graf that we thought was social chitchat just for us.
** Sorry I abandoned the site – but I’ve been priced out forever, and Real Estater was right about the stock market, so I just had to admit my own limitations and tried to spend time thinking about things besides real estate. I’m still a renter. But I can’t stop myself from occasionally looking at Redfin in my neighborhood, which you will recall is the hills of El Cerrito – 94530 baby! **
Here’s a house I know that tried to sell in 2008 for $1.2M, failed pitifully because of the ‘crash’, but they waited it out, and lo and behold, they got their price last week! And I wanted to share the listing because the first pick has 6, yes 6 columns showing!
So in my mind, prices in the hills of El Cerrito are back to peak levels, and appear to be rising.
I don’t know if that qualifies us for RBA status, but we seem to be back to where we were in 2007 (oh, except for having about 25% of the inventory), a crazed over-bidding environment on places that need a lot of work. People writing letters with their offers to beg for the privilege of buying with no contingencies, etc…
I guess another difference is how much buying is all-cash – in 2007, I think there was a lot more leveraging.
It’s a great time to sell a house, that’s for sure. But I can’t afford to buy one – oh well! I’d say I missed my chance, which was about Q1 2012, but prices hadn’t dropped enough for me to afford things even then.
Maybe the next crash will be harder. Maybe not – I bought a lotto ticket last month as an alternative way to solve the problem…
Looking at how bekawlumned this house is, we don’t understand why A didn’t sell every vehicle, video, and spare family members to own this house. Every bedroom just screams, “Oh my God, I live here!” Why this is almost as impressive as what you can get in Palo Alto for a similar asking price.
Can you imagine what you’d have to pay for kawlums in The Real Bay Area?