Observe This

obser.jpgNew on the market in Oakland is a 2,318 sf, four-bedroom, three-bath home sitting on a quarter acre. Located at 4919 Observatory Avenue, this home made the top of our Daily Stat board just 3 days into listing. This brand new, Spanish-style home is different from many of the new builds and remodels. It appears that much attention has been paid to small details and design elements, such as intricate stained glass-and-iron doors, the millwork that panels the living room, stone floors with inlaid mosaics, ornate ceilings with curved moldings, and beautiful ironwork. Priced at $1,800,000, the square foot cost is $777. My biggest concern is that according to Zillow, there does not appear to be any homes in this neighborhood on a lot that size or priced above $1,000,000. That makes this the biggest, most expensive home in the neighborhood, which typically is not the best investment. While it would tend to bring up the price of the surrounding homes, it will appreciate slower than if it were in a neighborhood of like-priced homes.

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