Thursday, April 20, 2017

Do I have to check everything?

Rockridge dump receives 19 offers, sells for quarter-million over asking.

SFgate had a hyperventilating article about this tear down getting a quarter million dollar over asking in Oakland. Self I thought - that is alarming. Oakland real estate is getting crazier than I thought.

Then I started looking at the listing and found the last time it sold was in the 70's. Which led me to looking at the place through Google street view, and it's the tiniest place. Less than 1000 square feet. The thing that really got me looking at the street view was the listing had a fairly large lot. Compared to it's neighbors, you could tear this thing down and put in a 3-4 bedroom house and it would completely fit into the neighborhood.

Then I did some comps on their neighbors houses, and even with 250,000 over asking, they are still getting a DEAL.

All while sitting on my ass on the couch. That is not even a story. Seriously.

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