Rather than merely give you the heads-up on some new listings in Berkeley, I am inspired by my Sweet Digs neighbor Anna Hibble (and she by some nifty sales snapshots on Submedian), to look at the sort of return on investment appreciation the owners of these homes are eagerly anticipating.
(First up is strange to say the least: a 7-bedroom bank-owned house for sale in Berkeley which last sold for $1,000 so the math doesn’t really work. But I had to include it as it looks intriguing.)
Difference: $484,500 [or $48,450/year value increase]
Update: Coincidentally, over at SocketSite at the same time a lively discussion has been under way about the difference between appreciation and added value.
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refanatic writes, Jan 12, 2008: (3 posts)
Real Estate The Best Investment? Some Sellers Are Banking On It
Rather than merely give you the heads-up on some new listings in Berkeley, I am inspired by my Sweet Digs neighbor Anna Hibble (and she by some nifty sales snapshots on Submedian), to look at the sort of return on investment appreciation the owners of these homes are eagerly anticipating.
(First up is strange to say the least: a 7-bedroom bank-owned house for sale in Berkeley which last sold for $1,000 so the math doesn’t really work. But I had to include it as it looks intriguing.)
1234 Haskell Street, Berkeley 94702 (pictured above left)
Asking: $606,000 (or $645,000 depending where you look)
Last sale: $1,000 (8.24.2007)
Difference: $605,000 in 5 months [or $121,000/month value increase!]
927 Euclid Avenue, Berkeley 94708 (pictured above middle)
Asking: $1,075,000
Last sale: $806,000 (6.8.2000)
Difference: $269,000 [or $38,408/year value increase]
1404 Oxford Street, Berkeley 94709 (pictured above right)
Asking: $749,999
Last Sale: $585,000 (1.10.2003)
Difference: $164,999 [or $41,250/year value increase]
1535 Fairview, Berkeley 94703
Asking: $590,000
Last sale: $105,500 (3/19/1997)
Difference: $484,500 [or $48,450/year value increase]
Update: Coincidentally, over at SocketSite at the same time a lively discussion has been under way about the difference between appreciation and added value.