Alameda Landmark Now A Short Sale

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.

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

. . 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 .

From Alameda's Oldest to its Newest

Besides this weeks Alameda Housing Inventory report, 94501 Real Estate takes a look at one of Alameda’s first homes and a look at the block that wants to be Alameda’s newest housing development. Like every Monday, the listing and Inventory are below.

We feature a home, on December 5, in the Alameda Snapshot feature that has been identified as Alameda’s oldest home. The Webster House went on the market this week for $1,795,000. The listing description: Architecturally & historically significant Webster house bed & breakfast inn is offered for sale! 1854 gothic revival house was designed by Andrew Jackson Downing. Designed as a single family home, 6bd, 6ba, 7 fireplaces and a great karma nestled in a central alameda location.

This is a Bed and Breakfast on Versailles is #22 on the monument list, is Alameda's oldest home and dates back to the year a portion of Alameda was incorporated.

This is the second home on the Alameda Monument list to be place on the market in the last three months.

The newest proposal for a housing development is the Boatworks project. The project is located on Clement to the Estuary from Oak to Elm Streets. I thought I would let readers see the current state of the site it a short video. The curb appearance of the site has not changed much since in the 30-years I can remember.

For more information on the proposal and the political implications of the project see: Blogging Bayport or The Island’s report.

New Listings for the Week

1238 Versailles at $1,795,000

1535 Lincoln at $638,000

50 Benedict  at $629,000

56 Bannister at$599,000

709 Haight at $569,900

308 Fair Haven at $535,000

950 Shorepoint, #106 at $335,000
1170 9^th  Street, #13 at $299,000

 

Alameda Inventory Report -- February 1, 2009, 8:30 AM

Total                           146

94501                         117

94502                         29

SFR                            84

Condo                        35

Multi-Family               27

Foreclosure               11

Short Sale                  21

Price Reductions      56

High Listing                $1,795,000

Low Listing                $214,900