While price reductions are becoming more the norm these days in Oakland, it’s truly startling when you look back over the sales history for some homes.
Take 1131 34th St. a 3bd/1ba 1465 SF bungalow (above). Currently listed for $289,000, it has been reduced from $299,900. Yeah, I know 10k is not a big reduction but it’s the sales history that took me for a ride, check it out:
$530k barely a year and a half ago?? You’ve got to be kidding me. Predatory lending, anyone? If this one doesn’t take the cake, I don’t want to know what does.
Then there’s this Montclair home (above) on 6400 Oakwood Dr. a 3bd/2.5ba 1544 SF for $524,900. Again, while the reduction from $550,900 is not outrageous by any means, it’s previous high sale of $900,000 (October 2006) puts the pricetag in perspective. It’s listed as a fixer, but what would need nearly half a million dollars in fixing I can’t guess. Perhaps it’s close to $1M sale was yet another example of a seriously bloated housing bubble.
For those of you house-hunting or just biding your time, what are some of the deepest cuts you’ve seen? (I was just kidding earlier when I said I didn’t want to know what takes the cake. Let me know. Really. Please. Thanks!)