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Looking for a Bargain? See Alameda’s Top 15

Posted by 94501RealEstate
September 9, 2010

In this current economic time everyone is looking for a bargain, so I thought I would give you Alameda’s top 15 based on the percentage of price reduction.


Looking at the list these homes have had anywhere between one and five reductions. The list contains both condos and single family homes, the interesting part is of the 37 distressed properties on the market only four are on the Top 15 list.


The home with the largest reduction is 1213 Saint Charles that saw the price $289,000 for almost a 21% reduction. This is a great looking home in the Gold Coast, but the seven figure price tag leaves it a tough buy for most.


My favorite is listed for $599,000, a 17% discount is 2837 Madison. It has four bedrooms and two and half baths, bay windows and wainscotting. A very nice home and a more moderate price.


If you are looking for a great starter place the condo at 1170 9th Street at $199,000 may be a good place to look for a deal. It is only one of two units offered at under $200,000. It is a one bedroom place, but if you like water it has a pool and is on the lagoon.


If you are looking for a single family residence there are a few to select from under $500,000. there are 20 single family residence with at least two bedrooms between $299,950 and $499,999. If you need more than two bedrooms the selection gets slim two three bedroom, two four bedroom and one five bedroom homes in this range.


Top 15 Bargains

List Date Original List New List Price % Number of Reductions Address
21-Apr-10 $1,389,000  $1,100,000 79.19% 2 1213 SAINT CHARLES ST
12-Jul-10 $725,000  $599,000 82.62% 2 2837 MADISON ST
04-May-10 $300,000  $249,000 83.00% 2 965 SHOREPOINT CT #203
14-Jun-10 $599,900  $499,900 83.33% 2 2149 LINCOLN AVE
20-Jan-10 $239,000  $199,900 83.64% 5 1170 9TH ST #13
22-Jan-10 $285,000  $240,000 84.21% 3 2209 OTIS DR #R
19-Nov-09 $1,385,000  $1,195,000 86.28% 2 1000 GRAND ST
21-Jun-10 $1,390,000  $1,200,000 86.33% 2 1831 SAN JOSE AVENUE
07-Jul-10 $478,900  $418,900 87.47% 2 3201 OTIS DR
11-Jun-10 $965,000  $849,000 87.98% 2 1525 GIBBONS DRIVE
18-May-10 $859,000  $760,000 88.47% 5 64 STEUBEN BAY
07-Jul-10 $789,000  $699,000 88.59% 2 3125 BAYO VISTA AVE
16-Jul-10 $544,000  $484,000 88.97% 1 108 PARFAIT LN
30-Jul-10 $650,000  $579,000 89.08% 1 1529 MOZART STREET
08-Mar-10 $379,950  $339,950 89.47% 3 2101 SHORELINE DR #262
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August Home Sales Take Big Chill

Posted by 94501RealEstate
September 8, 2010


After a big run up in sales prior to the end of the Federal Tax Credit, home sales in Alameda dipped in the month of August significantly. The decline in sales is reflective of what is happening across the country where sales haven fallen off as credit has been become more difficult and buyers are wary to buy a home. Alameda sales are down 41-percent in May and 34-percent from June.
Looking back the past two years August had 56 sales in 2009 and 48 in 2008 compared to 35 this year. This is a 27-percent decline year-over-year. The combination of growing inventory and slow sales will continue to put pressure on the Alameda market.
Both the median ($578,000) and average sale ($623,951) price were up in August. The median is the highest since June of last year and the average you have to go back to November 2008.
The positive for sales were May and June, the sales number were very good compared to the last two year. Both months exceed the prior two years sales for the same time period. Most of this was due to buyers taking advantage of the tax credit.
Alameda Home Sales Graph from January 2009 to August 2010:




Sale Date Address zip Sale Price
03-Aug-10 234 SHEFFIELD RD 94502 $855,000
03-Aug-10 1801 VERSAILLES AVENUE 94501 $850,000
04-Aug-10 2101 SHORELINE DR #461 94501 $365,000
06-Aug-10 983 PARK ST 94501 $409,500
10-Aug-10 119 CENTRAL AVENUE 94501 $465,000
10-Aug-10 1200 SAN ANTONIO AVE 94501 $1,635,000
11-Aug-10 608 FORTRESS ISLE 94501 $790,000
11-Aug-10 1825 NASON ST 94501 $390,000
12-Aug-10 2615 WASHINGTON ST 94501 $525,000
12-Aug-10 3402 REDHOOK LN 94502 $425,000
12-Aug-10 1712 THIRD STREET #305 94501 $265,000
12-Aug-10 2935 SOUTHWOOD DR 94501 $1,200,000
13-Aug-10 1516 FIFTH STREET 94501 $678,000
13-Aug-10 2015 LINCOLN AVE 94501 $530,000
13-Aug-10 1713 EAGLE AVE 94501 $500,000
13-Aug-10 1001 SHORELINE DR #108 94501 $419,300
17-Aug-10 410 MARSHALL WAY 94501 $470,000
17-Aug-10 1001 SHORELINE DR #406 94501 $412,000
18-Aug-10 965 SHOREPOINT CT #222 94501 $298,000
20-Aug-10 356 ANDERSON RD 94502 $960,000
20-Aug-10 2778 SHANER DR 94502 $607,500
20-Aug-10 534 QUEENS ROAD 94501 $578,000
20-Aug-10 950 SHOREPOINT CT #216 94501 $185,000
23-Aug-10 2845 ENCINAL AVE 94501 $638,000
23-Aug-10 837 PACIFIC AVE 94501 $455,000
27-Aug-10 1 STONE HBR 94502 $780,000
27-Aug-10 1305 HANSEN AVE 94501 $776,000
27-Aug-10 2157 SAN ANTONIO AVE 94501 $745,000
27-Aug-10 1555 SANTA CLARA AVE 94501 $565,000
30-Aug-10 1809 KOFMAN PARKWAY 94502 $838,000
30-Aug-10 1312 SAN ANTONIO AVE 94501 $650,000
31-Aug-10 236 RATTO RD. 94502 $879,000
31-Aug-10 632 ARLINGTON ISLE 94501 $705,000
31-Aug-10 22 BRITT COURT 94502 $620,000
31-Aug-10 3523 OLEANDER AVE 94502 $375,000
Median $578,000
Average $623,951

For More Detail
August 2010 Sales

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Alameda Inventory: 31-Percent Growth Over Last Year

Posted by 94501RealEstate
September 7, 2010

Alameda home inventory has been steadily growing since the beginning of the year, when the Island was well below a 100 units of housing for sale. Over the past eight months inventory seem to be stuck in the 130 range, but began to grow again and with the end of the Federal tax credit, and the traditional selling season.


Since both of those milestones have passed it is good to reflect back and see how the market has changed.

Enter the Fall of 2009, there was a downward trend in inventory after peaking in July and bottoming at 131 units during the first week of September. The lack of inventory continued well into 2010 and lag for most of the year.

Inventory is now at 185 units, this is a growth of of 31-percent from September 2009. The largest growth came in the condominium market that more than doubled. The condo market has struggled over the past two years as evident with 11 condos listed at $250,000 or below. Three of those units are in the Park Webster complex at the foot of Webster Street. The Woodstock Coop (townhouse) also has two listed under the $250,000.

The distressed market has also grown over the past year. The most concerning is the growth of Short Sales. Short Sales is the seller’s attempt to sell the home for less than they owe on the property. The number of short sales double from the prior year. The properties range from $149,888 to $720,000.





Date: Septemer 6, 2010 Sep-10 Sep-09 Change
Total Inventory 185 131 54
94501 140 104 36
94502 45 27 18
Single Family 99 86 13
Condos 55 26 29
Multi-Family 29 17 12
Foreclosure 17 12 5
Short Sale 21 10 11
Price Reduced 72 47 25
% of Price Reduced 38.92% 35.88% 3.04%
High List  $1,835,000  $1,899,000
Low List  $149,888  $204,900

Note: The inventory includes to parcels of land for sale. 

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Alameda Real Estate: Odds, Ends and Inventory

Posted by 94501RealEstate
February 16, 2010

Just a quick post today. The Alameda home inventory is down from the prior two weeks, and if you look at the chart below you can see the steep decline since July. If this was a ski slope it would be a lots of fun, but this line just makes the market sluggish.

Inventory_Feb_15_10

The market add three new foreclosures this past week and you can see that distressed properties make up almost 30 percent of the Island’s inventory. Distressed properties have made up 25 percent of the market since November. I think that this trend is going to continue most of this year.

Percent of Distressed

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The inventory for week shows that single family residence are still below 60 units. Of the 56 units for sale 16 of those properties are either a short sale or foreclosure; this is 29 percent of the inventory. If you are looking on Bay Farm the inventory 25 units, so buyers do not have much selection.

I would expect a bit of a sales run as the Federal Tax Credit comes to a close in April (buyers need to be in contract by April 30, 2010) on lower end properties that would fit the income limits for buyers. Until the market gains new inventory prices will be low and sales will be slow.

Alameda Inventory: February 12, 2010

.

.

 2/15/2010

.

 Total 109

.

 94501 84

.

 94502 25

.

 SFR 56

.

 Condo 32

.

 Multi-Family 19

.

 Short Sale 18

.

 Foreclosure 14

.

 Price Reductions 32

.

 High List $1,999,000

.

 Low List $199,900

.
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Increase in Single Family Homes For Sale

Posted by 94501RealEstate
February 8, 2010

This week the Alameda Real Estate Inventory showed a niced increase with an additional nine units for sale. The increase in Single Family Residences was the most positive part of the increase in inventory.

The SFR market was below 60 units for the past seven weeks, so any bump even a small one is encouraging. Since most of the Island’s housing stock is SFRs then an increase in this category is good for the current market, which has been suffering from a lack of inventory. There are 11 news single family listing since last Monday.

New Listings

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 List Date List Price Adress Beds Baths Sq Feet Type

.

 2/5/2010 $648,000 336 LINA AVENUE 4 3.5 3150 SFR

.

 2/5/2010 $549,000 2015 BUENA VISTA AVENUE 2 1 1318 SFR

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 2/5/2010 $619,900 404 KITTY HAWK RD 3 2 1438 SFR

.

 2/5/2010 $430,000 3116 LA CRESTA 3 2.5 1628 TNHS

.

 2/4/2010 $450,000 2017 LINCOLN AVENUE 3 2.5 1443 SFR

.

 2/4/2010 $639,000 404 CAMDEN RD 3 2 1503 SFR

.

 2/4/2010 $698,000 227 INVERNESS CT 3 2.5 1891 SFR

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 2/3/2010 $565,000 7 KINGSBURY COURT 2 3.5 1503 CONDO

.

 2/3/2010 $470,000 3037 LINDA VI 3 2.5 1628 TNHS

.

 2/2/2010 $354,900 1819 UNION ST 2 1 997 SFR

.

 2/1/2010 $250,000 1825 SHORELINE DR #112 1 1 621 CONDO

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 2/1/2010 $517,000 1618 6TH ST 2 2 1422 SFR

.

 2/1/2010 $310,000 447 LINCOLN AVE 2 1 722 SFR

.

 2/1/2010 $1,300,000 2809 SEA VIEW PKWY 5 3 2744 SFR

.

 2/1/2010 $779,000 105 SHEFFIELD RD 4 2 1954 SFR

Overall, Inventory still remains low, but relative to the the current sales levels it may be an appropriate level of housing stock until more buyers come to the market. This is the proverbial chicken and egg; in this case buyer and seller. More people will sell when they have people to buy and buyers will buy when there is something that fits their needs to buy.

A shift needs to happen to shake the market loose, but until then I will just continue to monitor the numbers.

Alameda Inventory February 8, 2010

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.

.

 2/8/2010

.

 Total 113

.

 94501 89

.

 94502 24

.

 SFR 61

.

 Condo 31

.

 Multi-Family 19

.

 Short Sale 18

.

 Foreclosure 11

.

 Price Reductions 29

.

 High List $1,999,000

.

 Low List $188,000

.

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Alameda Snapshot: Empty Again

Posted by 94501RealEstate
February 5, 2010

It appears that the New Zealander has closed leaving the historic Croll’s building empty again. Here is an Alameda Snapshot of the beautiful stain glass incorporated in the building.

Croll's Stainglass

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January A Fizzle For Home Sales

Posted by 94501RealEstate
February 4, 2010

After a strong close to Alameda home sales in the final four months of a lackluster 2009 in, 2010 started with a completed fizzle. The first month of this year so far has recorded just 16 sales. This is the lowest total I have seen in the three years of data that I have compiled.

For a reference, January 2007 had 37 sales and 2008 and 2009 recorded 21 sales in the opening month of the year. The year-over-year decline is 24 percent and the month-over-month change is a decrease of 59 percent.

Jan2010Sales

Typically January and February are slow months for home sales, but the unusually slow sales have been compounded by a lack of (new or good) inventory for buyers to choose from and the difficulty for many to still secure financing.

Because the sales were low the Alameda median home sale price dropped to $477,800. This is $91,200 drop from December or a 16 percent decline. The positive is that it is higher than January 2009’s $457,000. The high median sales price in 2009 was $594,000 in June.

January 2010 Alameda Home Sales

.tblGenFixed td {padding:0 3px;overflow:hidden;white-space:normal;letter-spacing:0;word-spacing:0;background-color:#fff;z-index:1;border-top:0px none;border-left:0px none;border-bottom:1px solid #CCC;border-right:1px solid #CCC;} .dn {display:none} .tblGenFixed td.s0 {background-color:white;font-family:arial,sans,sans-serif;font-size:80.0%;font-weight:normal;font-style:normal;color:#000000;text-decoration:none;text-align:left;vertical-align:bottom;white-space:normal;overflow:hidden;text-indent:0px;padding-left:3px;border-top:1px solid black;border-right:1px solid black;border-bottom:1px solid black;border-left:1px solid black;} .tblGenFixed td.s2 {background-color:white;font-family:arial,sans,sans-serif;font-size:80.0%;font-weight:normal;font-style:normal;text-decoration:none;vertical-align:bottom;white-space:normal;overflow:hidden;text-indent:0px;padding-left:3px;border-top:1px solid #CCC;border-right:1px solid #CCC;border-bottom:1px solid #CCC;} .tblGenFixed td.s1 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black;}

.

 Sales Date Address Type List Price Sale Price %

.

 1/5/2010 1041 CAMINO DEL VALLE TNH $365,000 $378,000 104%

.

 1/6/2010 1428 UNION ST SFR $825,000 $801,000 97%

.

 1/6/2010 1533 MOZART ST SFR $350,000 $335,000 96%

.

 1/8/2010 1547 B SANTA CLARA AVE SFR $575,000 $530,000 92%

.

 1/8/2010 2815 OTIS DR SFR $459,000 $426,000 93%

.

 1/8/2010 2031 OTIS DR #F CONDO $279,900 $285,000 102%

.

 1/8/2010 16 CALLAN PL SFR $1,850,000 $1,795,000 97%

.

 1/12/2010 1367 HANSEN AVE SFR $679,000 $679,000 100%

.

 1/12/2010 1560 LINCOLN UNIT C SFR $230,900 $210,000 91%

.

 1/13/2010 653 CENTRE COURT TNH $479,000 $483,600 101%

.

 1/13/2010 1825 SHORELINE DRIVE #213 CONDO $239,000 $245,000 103%

.

 1/15/2010 2140 CLINTON AVE. MFR $995,000 $880,000 88%

.

 1/15/2010 1554 4TH ST SFR $499,000 $530,000 106%

.

 1/15/2010 801 PARK STREET SFR $509,900 $490,000 96%

.

 1/15/2010 430 COLA BALLENA #C CONDO $484,000 $472,000 98%

.

 1/26/2010 2031 OTIS DR #G CONDO $215,000 $210,000 98%

.

 Median $477,800

.

 Average $546,850

.
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Alameda Landmark Now A Short Sale

Posted by 94501RealEstate
February 1, 2010

Sorry about the lack of posts last week, but have been under the weather and did not feel much like writing.

Here is today’s home inventory for Alameda and the data shows a nice upswing in inventory this week. In total the Island is up 11 more units than last week, but there is a concerning underlying element in the numbers that is cause for concern.

Five of the 11 units for sale are distressed properties; our of the properties are short sales. If this trend holds it is a sign that people are continuing to struggle with their mortgages and can not hold on at the current rate.

Three of the four short sale listings add this week were townhome/condos. The only exception is The Webster House at 1238 Versailles Avenue. Built in 1854 this is a City landmark and now a victim of the housing downturn. According to the listing comment it is a: Historical gem currently used as a bed & breakfast & tea house (business being sold separately). Fully remodeled w/ commercial kitchen & charming touches throughout. Large grounds, set far back from the street w/ great curb appeal.

The Webster House

Distressed properties are 35 percent of Alameda’s inventory. Inventory growth is a good thing given the City has less than three months of it, but at the cost of others losing their property this can have other social impact.

Alameda Inventory — February 1, 2010 .tblGenFixed td {padding:0 3px;overflow:hidden;white-space:normal;letter-spacing:0;word-spacing:0;background-color:#fff;z-index:1;border-top:0px none;border-left:0px none;border-bottom:1px solid #CCC;border-right:1px solid #CCC;} .dn {display:none} .tblGenFixed td.s0 {background-color:white;font-family:arial,sans,sans-serif;font-size:90.0%;font-weight:normal;font-style:normal;text-decoration:none;text-align:left;vertical-align:bottom;white-space:normal;overflow:hidden;text-indent:0px;padding-left:3px;border-top:1px solid black;border-right:1px solid black;border-bottom:1px solid black;border-left:1px solid black;} .tblGenFixed td.s2 {background-color:white;font-family:arial,sans,sans-serif;font-size:100.0%;font-weight:normal;font-style:normal;text-decoration:none;vertical-align:bottom;white-space:normal;overflow:hidden;text-indent:0px;padding-left:3px;border-top:1px solid #CCC;border-right:1px solid #CCC;border-bottom:1px solid #CCC;} .tblGenFixed td.s1 {background-color:white;font-family:arial,sans,sans-serif;font-size:90.0%;font-weight:normal;font-style:normal;color:#000000;text-decoration:none;text-align:left;vertical-align:bottom;white-space:normal;overflow:hidden;text-indent:0px;padding-left:3px;border-top:1px solid black;border-right:1px solid black;border-bottom:1px solid black;} .tblGenFixed td.s12 {background-color:white;font-family:arial,sans,sans-serif;font-size:90.0%;font-weight:normal;font-style:normal;text-decoration:none;vertical-align:bottom;white-space:normal;overflow:hidden;text-indent:0px;padding-left:3px;border-right:1px solid #CCC;border-bottom:1px solid #CCC;} .tblGenFixed td.s9 {background-color:white;font-family:arial,sans,sans-serif;font-size:90.0%;font-weight:normal;font-style:normal;color:#000000;text-decoration:none;text-align:left;vertical-align:bottom;white-space:normal;overflow:hidden;text-indent:0px;padding-left:3px;border-right:1px solid black;border-bottom:1px solid black;border-left:1px solid black;} .tblGenFixed td.s7 {background-color:white;font-family:arial,sans,sans-serif;font-size:90.0%;font-weight:normal;font-style:normal;color:#000000;text-decoration:none;text-align:right;vertical-align:bottom;white-space:normal;overflow:hidden;text-indent:0px;padding-left:3px;border-right:1px solid black;border-bottom:1px solid black;} .tblGenFixed td.s8 {background-color:white;font-family:arial,sans,sans-serif;font-size:90.0%;font-weight:normal;font-style:normal;color:#000000;text-decoration:none;text-align:right;vertical-align:bottom;white-space:normal;overflow:hidden;text-indent:0px;padding-left:3px;border-right:1px solid black;border-bottom:1px solid black;} .tblGenFixed td.s5 {background-color:white;font-family:arial,sans,sans-serif;font-size:100.0%;font-weight:normal;font-style:normal;text-decoration:none;vertical-align:bottom;white-space:normal;overflow:hidden;text-indent:0px;padding-left:3px;border-right:1px solid #CCC;border-bottom:1px solid #CCC;} .tblGenFixed td.s6 {background-color:white;font-family:arial,sans,sans-serif;font-size:90.0%;font-weight:normal;font-style:normal;color:#000000;text-decoration:none;text-align:right;vertical-align:bottom;white-space:normal;overflow:hidden;text-indent:0px;padding-left:3px;border-right:1px solid black;border-bottom:1px solid black;} .tblGenFixed td.s3 {background-color:white;font-family:arial,sans,sans-serif;font-size:90.0%;font-weight:normal;font-style:normal;color:#000000;text-decoration:none;text-align:left;vertical-align:bottom;white-space:normal;overflow:hidden;text-indent:0px;padding-left:3px;border-right:1px solid black;border-bottom:1px solid black;border-left:1px solid black;} .tblGenFixed td.s10 {background-color:white;font-family:arial,sans,sans-serif;font-size:90.0%;font-weight:normal;font-style:normal;color:#000000;text-decoration:none;text-align:right;vertical-align:bottom;white-space:normal;overflow:hidden;text-indent:0px;padding-left:3px;border-right:1px solid black;border-bottom:1px solid black;} .tblGenFixed td.s4 {background-color:white;font-family:arial,sans,sans-serif;font-size:90.0%;font-weight:normal;font-style:normal;color:#000000;text-decoration:none;text-align:left;vertical-align:bottom;white-space:normal;overflow:hidden;text-indent:0px;padding-left:3px;border-right:1px solid black;border-bottom:1px solid black;} .tblGenFixed td.s11 {background-color:white;font-family:arial,sans,sans-serif;font-size:90.0%;font-weight:normal;font-style:normal;color:#000000;text-decoration:none;text-align:left;vertical-align:bottom;white-space:normal;overflow:hidden;text-indent:0px;padding-left:3px;border-right:1px solid #CCC;border-bottom:1px solid #CCC;border-left:1px solid #CCC;}

.

.

 2/1/2010

.

 Total 104

.

 94501 82

.

 94502 22

.

 SFR 54

.

 Condo 29

.

 Multi-Family 19

.

 Short Sale 19

.

 Foreclosure 10

.

 Price Reductions 28

.

 High List $1,999,000

.

 Low List $188,000

.
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December Existing-Home Sales Down but Prices Rise; 2009 Sales Up

Posted by 94501RealEstate
January 25, 2010

Some very sobering news from the National Association of Realtors® today, after a rising surge in sales due to the November deadline for the tax credit in September through November, existing-home sales fell as expected in December. First-time buyers rushed to take advantage of the tax credit and created a nice surge in sales in the prior three months.

In Alameda, we saw real estate sales follow the same pattern as the National trend. The Island’s sales peaked in October with 75 sales. September through November accounted for 168 of Alameda’s 491 sales for last year; 34 percent.

NAR reports prices rose from December 2008 and annual sales improved in 2009. This was also true for Alameda. Alameda reported an 85 percent increase in year-over-year sales for the month and a $4,000 increase in the median home price. Alameda’s median home price for December was $569,000.

Nationally, NAR report existing-home sales – including single-family, townhomes, condominiums and co-ops – fell 16.7 percent to a seasonally adjusted annual rate1 of 5.45 million units in December from 6.54 million in November, but remain 15.0 percent above the 4.74 million-unit level in December 2008. That is a big number a 16.7 percent drop. As reported in other news organizations economists expected an 11.6% decrease in sales during December, which was a big shock to the markets.

For all of 2009 there were 5,156,000 existing-home sales, which was 4.9 percent higher than the 4,913,000 transactions recorded in 2008; it was the first annual sales gain since 2005. Alameda saw an increase in sales with an 11 percent increase.

The national median existing-home price for all housing types was $178,300 in December, which is 1.5 percent higher than December 2008. Alameda’s median was a marginal increase, but is still significantly higher the national median.

Total housing inventory at the end of December fell 6.6 percent to 3.29 million existing homes available for sale, which represents a 7.2-month supply4 at the current sales pace, up from a 6.5-month supply in November. Raw unsold inventory is 11.1 percent below a year ago, is at the lowest level since March 2006, and is 28.2 percent below the record of 4.58 million in July 2008. Alameda’s inventory continues to decline; a year-over-year comparison of December show at the end of 2009 there was a 35 percent decline in the number of homes for sale. Today Inventory, shown below, shows that the decline continues.

Inventory Data — January 25, 2010
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.

.

 1/25/2010

.

 Total 93

.

 94501 77

.

 94502 16

.

 SFR 51

.

 Condo 20

.

 Multi-Family 20

.

 Short Sale 15

.

 Foreclosure 9

.

 Price Reductions 29

.

 High List $1,999,000

.

 Low List $239,900

.
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2010: a time of stabilization | Real Estate and Technology News for Agents, Brokers and Investors | Inman News

Posted by 94501RealEstate
January 22, 2010

2010: a time of stabilization Real Estate and Technology News for Agents, Brokers and Investors Inman News

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