It’s time to point and laugh at the East Bay again, and Burbed reader Bob in Oakland has got just the place. Thanks very much for keeping us apprised of all the wanna-bes who won’t be living in the Real Bay Area no matter how much they try overbidding. After all, anyone can show 365 percent profit when houses like this were selling for way less than Not A Lot Of Money.
2612 YUBA Ave
El Cerrito, CA 94530
Sold for $903,000
2,570 Sq. Ft.
$351 / Sq. Ft.
Lot Size: 7,000 Sq. Ft.
Sold On: Jun 28, 2013
Community: Mira Vista Estates
View: Bay, City Lights, Downtown, Partial, San Francisco
County: Contra Costa
Gorgeous Tudor/arched entry, Juliet balcony, sunken LR/ exposed beam ceilings. Perfect combination of old & new. Upgraded kit/caesarstone/ tiled backsplash & stainless appliances. Updated baths. Plus rooms. Lovely yard/ brick patio. Super house for entertaining. Close to BART, shop. & restaurants.
365 percent appreciation in El Cerrito!
Actually that appreciation was just from March to August of last year: 375k to 745k in five months.
It just sold AGAIN – the third time in 16 months.
Listed at 779k, went pending in two weeks, and sold for 903k (16 percent over asking).
Yes, it’s a good-sized house on a good-sized lot. But 240 percent appreciation in 16 months – W…T…F!!
Maybe the way it works is that this house gets extra price increase boosts, because the value of a typical listing is actually dropping simply by being exposed to other homes located in the East Bay. Think of it as a belt of lead weights, or a heavy chain connected to a big ol’ Oakland anchor.
Why would anyone buy this house for $903,000, when it’s full of exposed hardwood and the living room is sinking plus it has a frighteningly large kitchen? It makes much more sense to buy a fixer-upper in Mountain View instead. Think of all the time you’ll save when everything is at your fingertips because the rooms are so conveniently close-in. And the Bay views from El Cerrito will lead to woolgathering when you’ll be needing to focus on work. Mountain View Eichloids don’t have those distractions! Besides, it’s not like you’d be leaving Google during daylight hours anyway.