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

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By Ironman   Apr 19, 9:06pm   ↑ like (4)   ↓ dislike   4 links   915 views   32 comments   watch (0)   quote  

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What the hell is in the drinking water in CA....

A teardown at 383 60th St., in the heart of Oakland's Rockridge neighborhood, hit the market for $495,000 in March 2017. A month later it sold for $755,000.
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Peeling paint, rotting wood, unfinished ceilings and torn-up linoleum didn't stop prospective homebuyers from making an offer on a ramshackle Rockridge abode.

The teardown at 383 60th St. sold for a quarter-million over asking on Friday after receiving 19 offers.

The one-bedroom, two-bath bungalow built in 1905 went on the market in March for $495,000 and sold last week at $755,000.

People were lined up out the door on the first open house, according to listing agent Dalia Juskys of Red Oak Realty.

"At least 200 people came through," Juskys said.

The seller of the Rockridge home originally purchased the home in the 1970s and hadn't lived there in decades. When the property first went on the market, Juskys told SFGATE the owner held onto the house to remain in Rep. Barbara Lee's district. She also admitted her listing was either a teardown or "massive fixer-upper" with no heating or even a workable kitchen.

"It's quite hysterical," Juskys said. "Everything is dilapidated ... The only thing that's livable is the bathroom."
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http://www.sfgate.com/realestate/article/Rockridge-teardown-real-estate-Oakland-19-offers-11083945.php#photo-12560539

Comments 1-32 of 32     Last »

1   MMR   255/255 = 100% civil   private mesage   Apr 19, 9:09pm  ↑ like (3)   ↓ dislike (1)   quote   top   bottom   home   share  

Problem is NIMBYs who do everything in power to limit the supply of housing ...place obviously a shithole

2   Patrick   1380/1380 = 100% civil   private mesage   Apr 19, 9:14pm  ↑ like (6)   ↓ dislike   quote   top   bottom   home   share  

Lol, only one of those offers was proven to really exist.

3   Straw Man   213/213 = 100% civil   private mesage   Apr 19, 9:33pm  ↑ like (5)   ↓ dislike   quote   top   bottom   home   share  

Fucking morons.

4   BayArea   217/217 = 100% civil   private mesage   Apr 20, 6:26am  ↑ like (3)   ↓ dislike   quote   top   bottom   home   share  

I lived in rockridge for 7yrs. Beautiful and extremely desirable part of the East Bay.

It sold for $250,000 over asking because $495,000 wasn't a real price.

The online real estate estimators have that property at around $950,000.

That location right off College Ave is beyond desirable. That's the heart of Rockridge.

5   Ironman   1507/1563 = 96% civil   private mesage   Apr 20, 8:03am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

BayArea says

The online real estate estimators have that property at around $950,000.

Ironman says

What the hell is in the drinking water in CA....

6   Strategist   937/939 = 99% civil   private mesage   Apr 20, 8:51am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

BayArea says

I lived in rockridge for 7yrs. Beautiful and extremely desirable part of the East Bay.

It sold for $250,000 over asking because $495,000 wasn't a real price.

The online real estate estimators have that property at around $950,000.

That location right off College Ave is beyond desirable. That's the heart of Rockridge.

The buyers will spend $500,000 to build a new home, making the new value $1.5 million. Brand new home with your choice of upgrades.

7   Strategist   937/939 = 99% civil   private mesage   Apr 20, 8:52am  ↑ like (1)   ↓ dislike   quote   top   bottom   home   share  

Ironman says

BayArea says

The online real estate estimators have that property at around $950,000.

Ironman says

What the hell is in the drinking water in CA....

How much would that dump cost in New Jersey?

8   Ironman   1507/1563 = 96% civil   private mesage   Apr 20, 8:53am  ↑ like (1)   ↓ dislike   quote   top   bottom   home   share  

Strategist says

How much would that dump cost in New Jersey?

In it's current condition, barely $100K (mostly in the property value).

9   Tenpoundbass   752/753 = 99% civil   private mesage   Apr 20, 8:55am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Home sweet shithole.

10   Tenpoundbass   752/753 = 99% civil   private mesage   Apr 20, 8:56am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Ironman says

In it's current condition, barely $100K (mostly in the property value).

This might have sold for more as an empty lot.

That's easy $20K in demolition and disposal. Perhaps 10 times that in the land of Regulations.

11   HEY YOU   321/321 = 100% civil   private mesage   Apr 20, 8:57am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

We all know,"You can't fix stupid."
An informed buyer would snatched it up with a cool $million.

12   Patrick   1380/1380 = 100% civil   private mesage   Apr 20, 9:04am  ↑ like (6)   ↓ dislike   quote   top   bottom   home   share  

1. The price is just for the land. The house is a scraper. The sale price would have been even higher without the additional cost to remove that shack.
2. The article is one of tens of thousands placed by realtor scum in a propaganda move to give the impression that the housing market is so hot that houses go for over asking.
3. They would never have accepted their asking price. It was a fraud specifically designed to manipulate public opinion. And it worked.

13   BayArea   217/217 = 100% civil   private mesage   Apr 20, 9:27am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

I know I know, it seems crazy.

But you guys are smart guys. It's not the dilapidated wooden box that you are paying for. Someone got a lot of land in one of the most desirable locations of the East Bay, for a price that you'd expect to pay for such a thing.

Don't get too fixated on the state of the box you see in the pic.

14   Ironman   1507/1563 = 96% civil   private mesage   Apr 20, 9:29am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Patrick says

It was a fraud specifically designed to manipulate public opinion. And it worked.

Why do you CA residents allow this shit to go on??

15   BayArea   217/217 = 100% civil   private mesage   Apr 20, 9:35am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Oh and just for reference:

I'm looking at the houses surrounding that one... between $1.275 and $1.7M from what I can see on redfin... $750K for that lot looks more than fair if you want to pursue Rockridge.

16   MMR   255/255 = 100% civil   private mesage   Apr 20, 9:47am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Ironman says

Strategist says

How much would that dump cost in New Jersey?

In it's current condition, barely $100K (mostly in the property value).

In higher cost area of NJ, maybe up to 250k

17   MMR   255/255 = 100% civil   private mesage   Apr 20, 9:54am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

BayArea says

Oh and just for reference:

I'm looking at the houses surrounding that one... between $1.275 and $1.7M from what I can see on redfin... $750K for that lot looks more than fair if you want to pursue Rockridge.

Some nice areas of Oakland for sure, but the price surge in recent years absolutely due to people being priced out of SF and overall, having lived in Bay Area and visiting there few times in past years, I hardly see any new home construction, at least when compared to places like Atlanta, Phoenix, Las Vegas and even New Jersey

18   MMR   255/255 = 100% civil   private mesage   Apr 20, 9:55am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

BayArea says

I know I know, it seems crazy.

But you guys are smart guys. It's not the dilapidated wooden box that you are paying for. Someone got a lot of land in one of the most desirable locations of the East Bay, for a price that you'd expect to pay for such a thing.

Don't get too fixated on the state of the box you see in the pic.

Clearly a tear down, but how was rockridge priced 10-15 years ago?

19   MMR   255/255 = 100% civil   private mesage   Apr 20, 10:12am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

BayArea says

I lived in rockridge for 7yrs. Beautiful and extremely desirable part of the East Bay.

It sold for $250,000 over asking because $495,000 wasn't a real price.

The online real estate estimators have that property at around $950,000.

That location right off College Ave is beyond desirable. That's the heart of Rockridge.

Well it is one of the few majority white neighborhoods, yet Oakland tech is still only 17% non Hispanic whites

Surely that is worth 600-700/sf

20   FP   167/167 = 100% civil   private mesage   Apr 20, 10:32am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

MMR says

I hardly see any new home construction,

There is a lot, but mostly (from what I've seen) apartment buildings, townhouses, and detached with microscopic lots.

21   Straw Man   213/213 = 100% civil   private mesage   Apr 20, 10:38am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

FP says

MMR says

I hardly see any new home construction,

There is a lot, but mostly (from what I've seen) apartment buildings, townhouses, and detached with microscopic lots.

Tons of new construction in East Dublin and Southern Pleasanton. Both apartments and SFHs.

22   zzyzzx   416/416 = 100% civil   private mesage   Apr 20, 11:39am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Strategist says

How much would that dump cost in New Jersey?

In Baltimore City less than $10000, possibly a LOT less.

23   zzyzzx   416/416 = 100% civil   private mesage   Apr 20, 11:40am  ↑ like (1)   ↓ dislike   quote   top   bottom   home   share  

Ironman says

The seller of the Rockridge home originally purchased the home in the 1970s

Would have been better if article posted this 1970's buying price.

24   BayArea   217/217 = 100% civil   private mesage   Apr 20, 1:45pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

MMR says

BayArea says

I know I know, it seems crazy.

But you guys are smart guys. It's not the dilapidated wooden box that you are paying for. Someone got a lot of land in one of the most desirable locations of the East Bay, for a price that you'd expect to pay for such a thing.

Don't get too fixated on the state of the box you see in the pic.

Clearly a tear down, but how was rockridge priced 10-15 years ago?

In 2007? Housing market was on fire just before the subprime housing meltdown. Rockridge real estate was scorching hot in 2007.

25   Lashkar_i_Trumpi   787/787 = 100% civil   private mesage   Apr 20, 6:28pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Next on : Home Buyers California.

"What do you guys do?"

I'm a professional Feng Shui Consultant, and my wife is a part time Harpsicord tuner and Hamster trainer.

"Wow, a Harpsicord tuner?"

Oh, it runs in the family, Marv. My brother owns the West Coast's largest Hurdy Gurdy distribution center in Palo Alto.

"What's your budget?"

Uh, 1.5 Million is about what we'd like to pay.

"I think we might find some 1000-ish square feet, lower end, maybe fixer-uppers, in that price range."

26   BayArea   217/217 = 100% civil   private mesage   Apr 20, 7:13pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Lashkar_i_Trumpi says

I think we might find some 1000-ish square feet, lower end, maybe fixer-uppers, in that price range."

$1.5M in Palo Alto? Where?

27   Strategist   937/939 = 99% civil   private mesage   Apr 20, 7:15pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

BayArea says

Lashkar_i_Trumpi says

I think we might find some 1000-ish square feet, lower end, maybe fixer-uppers, in that price range."

$1.5M in Palo Alto? Where?

The landfill.

28   Patrick   1380/1380 = 100% civil   private mesage   Apr 21, 11:38am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

I added the address from the original post as my first item on https://whatdidyoubid.com:

https://whatdidyoubid.com/address/4/383-60th-street-piedmont-ca-94618

Site needs a ton of work and more features, but it's alive!

29   BayArea   217/217 = 100% civil   private mesage   Apr 21, 12:14pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

@Patrick , good candidate property to start. Although the link isn't working for me.

30   Lashkar_i_Trumpi   787/787 = 100% civil   private mesage   Apr 21, 12:16pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

BayArea says

$1.5M in Palo Alto? Where?

The couple isn't looking in Palo Alto; the Brother of the wife has a Hurdy Gurdy Warehouse in Palo Alto. Right next to Spatula City.

31   Patrick   1380/1380 = 100% civil   private mesage   Apr 21, 12:21pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

BayArea says

Patrick , good candidate property to start. Although the link isn't working for me.

How about now? Please hit https://whatdidyoubid.com/address/4/383-60th-street-piedmont-ca-94618 and let me know if that works.

Thanks!

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