Kensington: A Blueprint For Your Next Home
This was a first for me: a home listing which shows architectural blueprints (above) but no photographs.
I was perusing listings in Kensington because there is just so little out there in Berkeley at the moment. I had also just had a conversation with a friend with whom I always have the best real-estate discussions. We had both noticed, as we drive through, how appealing a particular little area of Kensington is — just south of El Cerrito if you’re on Colusa Avenue.
Anyway this listing stopped me in my tracks: 389 Ocean View Drive is ostensibly a 2/1.5 home built in 1925 with Bay Views. The owner is asking a mere $549,000 for what he or she sensibly describes as a “fixer upper” that needs work. Apparently there are plans and neighborhood approval (what about city approval?) for an expansion which would create a 3/3 home with a 2-car garage and a deck.
Sounds like somebody hitting too many obstacles or just being overwhelmed with the “big project”. One person’s problem another person’s opportunity perhaps?
kj said:
Kensington has what is known as KMAC, or the Kensington Municipal Advisory Council — they review re-modeling plans & receive input from neighbors before issuing a ruling on any proposed work. It’s a non-binding approval that gets forwarded to the County, which normally follows the suggestion.
Neighbors have tremendous sway over the council, as views, neighborhood character, scale, etc. are all valid reasons for opposing modifications. I have personal experience with this – I used to live next door to a house that sold to an Albany developer who wanted to put up a horrible Mc Mansion that nobody in the neighborhood wanted – we all opposed the deal and eventually shut it down. So the ‘neighborhood approved’ comment is actually quite relevant.
Here’s a link for more info:
http://www.aboutkensington.com/kmac.html
December 6, 2007 2:35 PM
sc said:
I really dont think 549k for a tiny 2/1/5 fixer in kensington is a good deal.
I think you need to readjust your thinking out of bubble pricing and into reality of the new market which is affected by affordability, price/income ratios, economic indicators, and the mortgage crisis.
I think a more appropriate description of the home would be a small fixer listed at 549k would be a good deal with a 15% discount off list price, credits toward updating, and seller paid closing costs.
In this market, who wants to pay that price in that neighborhood for a tiny fixer???
December 6, 2007 4:12 PM
David said:
It’s not really a “fixer.” It’s a tear-down. You’re paying $550K for the lot and the privilege of building essentially a new house.
December 6, 2007 4:37 PM
Tracey Taylor said:
KJ: Thank the Lord for informed readers such as yourself. I was merely dipping my toe into the Kensington market (I’m a Berkeley “connoisseur”) and so I am delighted you enhanced my post with such valuable information. Thank you.
SC: The average price for a 2-bedroom house in Kensington is $952K (according to Trulia) which makes $549K look reasonable. But without seeing the house it is impossible to judge. Maybe you’re right or maybe…
David: … is right and all we have here is a tear-down. It would certainly explain the listing’s absence of photos.
December 6, 2007 5:51 PM
D Gordon said:
This property was just purchased for $550k in August 2007. Wonder if it just being abandoned at this point due to lack of funds…
December 7, 2007 9:55 PM
tracey.taylor said:
D Gordon: Somebody out there knows what’s going down with this house/lot. Anybody?
December 7, 2007 11:50 PM