“Sticker Shock” is a new occasional series in which we identify listed homes which appear to be overpriced, overvalued and over here. No guarantees: you may check this listing out and find it to be the home of your dreams. Just our view, for you to agree or disagree with.
Yes it’s a very good neighborhood, and yes the actual property is quite nice, but seriously folks, more than half a million greenbacks for a slice of a house in Berkeley?
2926 Benvenue Avenue is a 2/1, 1,050 sq ft condo with hardwood floors, a fireplace, built-ins and a diminutive but lovingly remodeled kitchen. There’s a small private deck and a partial basement, but the garden is shared. It came on the market in October 2008 priced $585,000 and has had one cut to $539,000.
I was talking to someone today who is buying a perfectly respectable single family home in Oakland for $350,000. I just don’t see why anyone would shell out $200K more for what seemed to me to be a rather cramped condo (and did I mention the silver woodwork?).
Looking at the comps — and the economic state we’re in — I humbly suggest we need about another $100k off this one.
2926 Benvenue link is bad?
Thanks Debtpocalypse. I’ve fixed the link.